Creating More Job Opportunities Becomes Urgent
In Beijing, some restaurant owners survived the first wave of the epidemic, because they had some funds and deposits at that time, plus the government introduced a rent reduction and exemption policy. But when the second wave of outbreaks hit Beijing, many of them totally lost their confidence. In fact, the food and beverage industry is one that has been hit hard in the covid-19 epidemic. The entire industry is increasingly in trouble, which may mean that a large number of people lose their jobs.
From February to May this year, China’s urban unemployment rate has stayed much higher than the end of 2019. Stabilizing the employment rate and helping out the unemployed have become the two core issues of current policies to ease the impact of the increase in unemployment. In other words, the relevant support policies must help enterprises on the one hand and provide social security for the unemployed on the other.
Reopening the Economy Becomes a Greater Challenge for US
Since the beginning of July, it has become more challenging for some states in the US to contain the novel coronavirus epidemic, and the increase of confirmed cases in many places continues to set new records.
Dr. Anthony Fauci, director of the National Institute for Allergy and Infectious Diseases, predicted that if the current situation is not reversed, it will be possible that the United States see a daily increase of 100,000 infected cases per day. Fauci believes that some states failed to abide by the corresponding standards set by the federal government in the process of reopening the economy, causing the epidemic to become more serious. Many economists told the Caijing reporter that the poorly prepared restart of the economy led to the resurgence of the epidemic, and the economic recovery that the United States had originally expected is becoming difficult to fulfill. In view of the continued surge in new cases, at least 17 states in the United States have temporarily suspended plans to reopen the economy. To make matters worse, in the case of the second outbreak of the epidemic, the consumer confidence of Americans has once again declined, which will affect the strength of the economic rebound.
Financial Sector to See Mixed Operations
On June 27, a leak sent shockwaves through the entire finance world. There were reports claiming the China Securities Regulatory Commission plans to issue brokerage licenses to commercial banks, or it will select at least two pilot commercial brokers from several major commercial banks. The reform of mixed operations for the financial sector once again caused speculation. In fact, as early as 5 years ago, the supervisory authorities discussed issuing brokerage licenses to banks. The Securities Regulatory Commission responded to this news by saying that some policies are “currently under discussion”.
Some research reports indicate that judging by profit contribution, and other factors, ICBC and CCB are more likely to be the potential candidates. If this policy is brought into force, the boundaries of the industry will become increasingly blurred. Under this condition, for many financial institutions, the question they have to think about is what their core competitiveness is.
New Outbreak of Covid-19 Hits Beijing
On June 11, a local diagnosis of a novel coronavirus infection in Beijing was confirmed. Up to July 1, a total of 329 local confirmed cases were reported. In this round of the epidemic, the most vulnerable people are the employees in the Xinfadi wet market, the epicenter. After the outbreak, a set of response mechanism was triggered to track, quarantine and treat the possible infected citizens. The efficiency is much higher than what happened in Wuhan more than six months ago. However, this new outbreak also indicates that viral testing will become commonplace in the lives of the Beijing residents in 2020.
Since the latest outbreak, people have not moved around freely. For one thing, they are afraid of being infected, but also because of fear that the health code may become red after passing through high-risk areas. With regard to the source of this round of epidemic in Beijing, the preliminary judgment of the disease control authorities is that the virus came from outside of Beijing, but the specific transmission path is still a mystery.
