Income gap widens: A third of Chinese households with annual incomes of between 10,000 yuan and 30,000 yuan would see their earnings dropping significantly this year, while only 13% of high-income households believe their earnings would be severely hit by the coronavirus outbreak, according to a survey conducted by Gan Li, professor of economics at Texas A&M University. SCMP.
JD considers dual listing: Chinese e-commerce giant JD.com is considering a secondary listing in Hong Kong in May or June, with Citibank, UBS and CLSA selected as the lead underwriters, according to a source familiar with the matter. Caixin.
Restaurants suffer: Chinese restaurants are in the process of reopening, but only to find it difficult to recover even half of their revenues prior to the coronavirus outbreak amid loss of dine-in business. Caixin.
Nansha amid outbreak: A piece by Southcn.com takes a closer look at how Guangzhou’s Nansha district managed to control the coronavirus outbreak with the employment of both digital and human surveillance. Southcn.com.
Foshan gets subsidies: Guangdong’s government-run fund has offered subsidies of 26.8 million yuan to 178 science and technology projects in Foshan, covering a variety of areas including advanced materials and biomedical industry. Southcn.com.
Cars rev up again: Guangdong’s automobile manufacturing industry is on the way to recovery, with major companies including Nissan, Volkswagen, Toyota and BYD restarting their production lines in partial capacity. Southcn.com.