GBA Briefs: 5/14/2020

Prices ease: Inflation is gradually subsiding across Guangdong, with the CPI index for April slipping to 4.1%, down from 5.2% in March. Driving this was an easing in food prices, as the effects of last year’s pork shortages began to ameliorate: in April, food prices fell by 2.2%, a decrease of 2.1 percentage points from the previous month. Non-food prices also slowed their rise, falling by 0.2% over March, although it was encouraging to see that inflation in services picked up, by 0.3%. SCN.

Guangdong clear: Guangdong has had no confirmed cases of the coronavirus for 14 straight days. Tests continued to be carried out for asymptomatic cases, with 6.79 million having been done so far at a detection rate of 6.2 per 100,000 population. SCN.

HK virus: Hong Kong can continue with relaxed social distancing measures as long as a newly recorded cluster of local coronavirus cases do not erupt into a wider community outbreak, public health experts say. The coming days would be critical to determine the scale of the latest infections as authorities carry out widespread tests. SCMP.

First 4K UHD station: Guangzhou Radio and TV Station has become the first city station in the country to launch a dedicated 4K Ultra HD channel. It already has 500,000 set-top boxes upgraded in the provincial capital, and more are being converted. With programming produced by the Nanfang media group, the Southern Metropolitan Channel is being positioned as a lifestyle channel focused on the Greater Bay Area. It will be all in Cantonese and carry a heavy dose of content related to the traditions and history of Lingnan (Cantonese) culture. DY. 

HK economy: Hong Kong’s commerce minister says the second quarter will not see much improvement from the first, when the economy contracted 8.9% YoY, its worst quarterly result since records began to be kept in 1974. SCMP.

Tencent takes off: Shenzhen-based Tencent’s Hong Kong-listed shares took off today after the gaming and social media giant reported better-than-expected results, in what analysts said is just the start of a big run-up. SCMP.

5G Bus: Guangzhou has launched a 5G-enabled bus service, which allows real-time monitoring of its interior. This enables passengers waiting at bus stops to check the location of the buses coming up, the congestion of each, and whether seats are available, so that they can decide which ones to take. SCN.

Shenzhen rewards HQs: Shenzhen is throwing out financial incentives for companies to establish their headquarters in the city. These can range as high as 20 million yuan. Even after they are established, the city government is continuing to reward them for their contribution to the local economy. Luminaries include Tencent, Ping an, DJI, to name only the most famous. SZN.

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