Latest news with #NDRC
RTHK
2 days ago
- Climate
- RTHK
Thousands moved as heavy rains hit Beijing and nearby
Thousands moved as heavy rains hit Beijing and nearby Two residents of Hebei province were dead and two missing in the wake of the deluge. Photo: CCTV via Reuters Heavy rain intensified around Beijing and nearby provinces in northern China on Monday, exacerbating the risks of disasters such as landslides and flooding, authorities said, as they relocated more than 4,400 people. Colossal rain continued to pound the northwestern suburban area of Miyun in Beijing causing flash floods and landslides and affecting many villages, state broadcaster CCTV reported. Images circulated on China's Wechat app showed areas of Miyun where cars and trucks were floating on a flooded road and water levels had risen so high that it had submerged part of a residential building. Northern China has seen record precipitation in recent years, exposing densely populated cities, including Beijing, to flood risks. Xiwanzi Village in Shicheng Town, near Miyun Reservoir, was severely affected, CCTV said on Monday with an additional 100 villagers transferred to a primary school for shelter. It comes after the maximum flood peak flow into the Miyun reservoir reached a record high of 6,550 cubic meters per second, Beijing authorities said on Sunday. In neighbouring Shanxi province, videos from state media showed roads inundated by strong gushing currents and submerged vegetation including crops and trees. In Beijing's Pinggu District, two high-risk road sections have been sealed, authorities said. Authorities are carrying out search and rescue work across cities including Datong, where a driver in a Ford car has lost contact while driving in the floods, the People's Daily reported. China's Water Resources Ministry has issued targeted flood warnings to 11 provinces and regions, including Beijing and neighbouring Hebei, for floods from small and midsize rivers and mountain torrents. Two were dead and two missing in Hebei province, CCTV said on Sunday morning. Overnight rain dumped a record 145 millimetres per hour on Fuping in the industrial city of Baoding. China's National Development and Reform Commission (NDRC) said on Monday that it was urgently arranging 50 million yuan to support Hebei. The funds would be used to repair damaged roads and bridges, water conservancy embankments, schools and hospitals in the disaster area. The NDRC said it was "promoting the restoration of normal life and production as soon as possible." (Reuters)
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Business Standard
2 days ago
- Business
- Business Standard
Why Chinese are leaving property sector jobs to acquire drone skills
China has reportedly recognised 'drone flight planner' as a new profession, part of a sweeping effort to expand the country's low-altitude economy and address a widening talent shortage in the sector. The designation, made by China's Ministry of Human Resources and Social Security, comes amid a growing shift in the labour market, with workers—especially from the ailing property sector—reskilling to enter the drone industry, reported South China Morning Post. Wang Xiaojun, deputy director of the ministry's Department of Vocational Capacity Building, described the role as involving 'planning multi-drone flight paths, developing flight plans and missions, and managing operations on-site', according to the report. He said the new profession has attracted 'many tech-savvy and creative young people'. Driving growth in low-altitude airspace The low-altitude economy, covering manned and unmanned operations below 1,000 metres, has been identified by Beijing as a strategic emerging industry. It is expected to spur innovation, create jobs and inject momentum into the slowing economy, the report said. In December 2024, the National Development and Reform Commission (NDRC) set up a dedicated unit to craft policies for the sector. Despite this, the NDRC has warned of a skills shortfall—an estimated 1 million trained personnel are needed to meet demand. As of end-2024, China had only 247,300 licensed drone operators, far behind the more than 2.17 million registered drones, a near-doubling from the previous year, according to the Civil Aviation Administration of China. Property professionals eye drone careers The mounting talent gap has opened new avenues for jobseekers, especially those hit by the real estate sector's downturn. Zhang Chao, who runs drone training programmes in Yunnan province, told South China Morning Post that since mid-2024, the number of trainees has tripled to about 140 per month. Most are between 20 and 40 years old. 'Given the challenging economic environment, some people, originally from professions such as property sales, have resigned to acquire drone skills and transition into drone-related careers,' Zhang was quoted as saying by South China Morning Post. Others, he added, view it as a promising future bet or a fallback option amid growing uncertainty in traditional sectors. Students, universities adapt to new industry demand The shift is not limited to mid-career workers. A growing number of Chinese students are reportedly enrolling in drone certification courses during summer breaks. Many are high school and university students studying drone-adjacent fields. 'Several of them are majoring in fields closely related to drone technology and believe the industry will continue to grow,' Zhang said. In response to this interest, universities are adjusting. In April, the Ministry of Education approved 'low-altitude technology and engineering' as a new undergraduate major. Institutions such as Beihang University and Beijing Institute of Technology are launching related programmes from autumn 2025. India too sees drone skills push India is also witnessing a steady rise in drone-related careers, driven by agri-tech innovations, logistics trials, and government-backed skilling programmes. Under the Namo Drone Didi Scheme —launched in November 2023—15,000 women from self-help groups are being trained as drone pilots to operate agricultural drones and offer Drone-as-a-Service. The Indian Air Force and NCC are also integrating drone training. According to a Times of India report, the first batch of master instructors from NCC's OTA in Kamptee has been certified by DGCA to train cadets across India, and Maharashtra's NCC centre in Nagpur is now a regional drone training nodal centre.
South China Morning Post
4 days ago
- Business
- South China Morning Post
China to amend key law as push to stamp out vicious price wars intensifies
China plans to amend a decades-old pricing law as part of an ongoing campaign to curb the vicious price wars plaguing several industries – a deep-rooted issue that threatens to wipe out corporate profits and fuel deflationary pressure. The amendment, which covers 10 clauses in the law, updates the definition of unfair pricing practices to include 'involution-style' competition, according to a draft released by China's National Development and Reform Commission (NDRC) and the State Administration for Market Regulation on Thursday. The term 'involution' has become a buzzword in China that refers to the excessive, cutthroat style of competition that has emerged in several industries, as companies facing weak domestic demand and oversupply problems slash prices in a bid to attract customers. The trend has become a serious concern for Beijing in recent months, with Chinese officials repeatedly vowing to stamp out the price wars and criticising companies that engage in 'disorderly' styles of competition that risk undermining economic growth. As China's economic landscape had undergone profound changes, the pricing law that originally came into effect in 1998 needed to be updated, government agencies said in a statement. 'With new economic forms and business models continuing to emerge, some industries have seen prominent cases of disorderly low-price competition, creating new demand for price regulation and oversight,' the statement said. The amendment, which is open for public comment until August 23, adds a new clause stating that businesses shall not force other operators to dump products at below-cost prices. Previously, the law only banned firms from selling goods below cost to eliminate competitors or monopolise the market.
The Hill
5 days ago
- Politics
- The Hill
Obama leading Democratic redistricting fundraiser in Martha's Vineyard
Former President Obama is set to appear at a Democratic redistricting group's fundraiser next month in Martha's Vineyard, as the party looks to go toe-to-toe with Republicans' redistricting push in Texas. Obama is named as a special guest on an invitation for an event hosted by former Attorney General Eric Holder, the chairman of the National Democratic Redistricting Committee (NDRC), and Rep. Nancy Pelosi (D-Calif.), according to an invitation obtained by The Hill and first reported by Politico. The invitation says the dinner and discussion will benefit the NDRC and affiliated groups on Aug. 19. Democrats are pushing for blue states to consider redrawing their House maps to offset similar efforts taking place in Texas, where President Trump has said he's looking to pick up five House seats. Ohio is also redrawing its maps, which is required this year because a previous plan didn't pass with bipartisan support in 2022. Republicans could make the maps more favorable to their party as they seek to win back seats held by Reps. Marcy Kaptur (D-Ohio) and Emilia Sykes (D-Ohio). California Gov. Gavin Newsom (D) is the only Democratic governor who so far has signaled he's open to redrawing his state's map to help his party. California uses an independent redistricting commission, however, and would have to overcome some hurdles in order for Democrats to do mid-cycle redistricting in the state. Other Democratic-led states such as New York or New Jersey that could see similar pushes, also have redistricting commissions and would likely need to have their state constitutions amended in order for Democrats to successfully redraw maps. The redistricting tit-for-tat could be previewing a tumultuous midterm cycle. Republicans are already bracing for an unfavorable political environment next year given the historic trends that run against the president's party in midterm cycles.
Forbes
5 days ago
- Business
- Forbes
China Market Update: Law Draft Focuses On Overcapacity And Price Wars
CLN Asian equities were mixed overnight, as Japan and Mainland China outperformed. It was a relatively quiet night with Hong Kong and Mainland China semis higher on President Trump's AI Action Plan as Mainland China had a very broad rally led by Shenzhen growth stocks while mega cap banks, oil, and telecom lagged. Remember our thesis that foreign investors will always favor growth stocks when investing in China! Hong Kong and Mainland China were led by healthcare and materials. The biggest news item today was the National Development and Reform Commission (NDRC) and State Administration for Market Regulation (SAMR) announced a price law amendment draft that included 'criteria for identifying unfair price behavior' including 'identifying low-priced dumping', 'improve the identification standards of unfair price behaviors such as price collusion' and stated industry leaders 'shall not use their influence or dominant position in the industry to force or bundle sales of goods'. There will be a consequence for such behavior as 'improve the legal responsibility for price violations' such as 'punishment for unfair price behaviors' and for those 'who violate the clearly marked price'. This draft is extensive, though one line that jumps out is 'dumping at a price lower than the cost'. Reuters had a good article on rising commodity prices in China and the government's overcapacity crackdown (I'll put it on X/Twitter @ahern_brendan). Another thesis is that China's deflationary days are over, in addition to China exporting deflation. Hopefully, the restaurant delivery war between Meituan, Alibaba, and will also end. Meituan +0.9% seems to see the writing on the wall as the company held a symposium in Shanghai with participants in its ecosystem, which included restaurant owners voicing concern that the current delivery price war is weighing on restaurant dining. Remember, we had Shanghai's local SAMR meet with Meituan, and Alibaba yesterday. Hong Kong growth stocks were mixed, with Tencent +0.91%, while NetEase -3.25%, CATL -1.24%, and Alibaba -0.5%. Biotech was led higher by WuxiBiologics +3.83% which announced that the 1st half of 2025 revenue will increase ~16% YoY and net income ~56% YoY. Mainland Chinese investors bought $473mm of Hong Kong stocks via Southbound Stock Connect. The State-owned Assets Supervision and Administration Commission (SASAC) met with local SOEs in Beijing to discuss implementing reforms and becoming more efficient. President Xi met with European Commission President Ursula von der Leyen and European Council President Antonio Costa on EU-China relations. Premier Li met with EU Commission Chairman von der Leyen on trade. He will also give a speech at the opening of the 2025 World Artificial Intelligence Conference in Shanghai on July 26th. The China equity rally is a sleeper of a trade (not just YTD but since January 2024), though the renminbi's rally versus the US dollar is even more so. On April 9th, USD/CNY hit 7.34 versus today's close of 7.15. Yes, the US dollar index is off nearly twice as much in percentage terms versus CNY's gains. Maybe countries should accuse the US of being a currency manipulator! Just kidding! New Content Read our latest article: KraneShares KOID ETF: Humanoid Robot Rings Nasdaq Opening Bell Please click here to read Chart1 Chart2 Chart3 Chart4 Chart5 Chart6
