China scrubs internet posts on positive economic impact of Covid-19

A Chinese economist’s suggestion that Beijing’s handling of coronavirus would be responsible for about $10tn of China’s economic growth this year has been scrubbed from social media after an online backlash.

Li Ling, head of the China Health Development research centre at Peking University, estimated that efforts to fight the pandemic would be responsible for earnings of Rmb67tn in 2020, or about two-thirds of China’s gross domestic product.

But her presentation at the weekend to the “Understanding China” forum in the southern city of Guangzhou sparked angry comments online. Some apparently misunderstood Ms Li’s estimate as suggesting China had profited from the virus and accused her of glossing over the country’s sacrifices in fighting a virus that killed about 4,700 and infected more than 90,000.

“How was that calculated? Zero minus negative one equals one?” Ahu, an anchor at a Wuhu television station, wrote on Weibo, the Twitter-like microblog.


Read More

OneConnect Gives Investors Positive Growth Trend With Current Financials

OneConnect (OCFT) went public in December 2019, raising $312 million from the sale of its stock.

Shenzhen, China-based OneConnect Financial, a Ping An spin-off founded in 2015, has developed a SaaS financial technology platform for banking service and insurance providers.

Management is headed by Wangchun Ye, who has been with the firm since its inception and was previously general manager of multiple departments in the head office of Huaxia Bank.

Below is a brief overview video of the company’s product launch in Singapore:

Source: OneConnect

The firm has more than 3,700 institutional users as of September 30, 2019, to whom it offers 12 cloud-native solutions and over 50 products, such as increasing revenue, managing risks, improving efficiency, enhancing service quality and reducing costs.

Investors in OneConnect have included SoftBank Vision Fund and parent firm Ping An. Source: Crunchbase

According to a 2019 market research report by ReportLinker, the global financial

Read More