In today’s briefing:
- Chinese Exporters Lose Some of Their Edge From a Weakening Yuan
- CX Daily: What’s in Store for China GDP, Fiscal Policy in 2023
- China’s State Drugmakers Scramble to Stock Pharmacy Shelves Amid Run on Covid Medicines
Chinese Exporters Lose Some of Their Edge From a Weakening Yuan
- So far this year, the onshore spot yuan has depreciated by about 9% to around 7 per dollar, weakening to 7.3200 per dollar in early November — the lowest since December 2007.
- The weaker yuan has prompted more orders because some merchants cut their prices denominated in U.S. dollars.
- Due to waning global demand, Chinese goods exports in dollar terms contracted 8.7% year-on-year in November
CX Daily: What’s in Store for China GDP, Fiscal Policy in 2023
- Outlook /: In Depth: What’s in store for China GDP, fiscal policy in 2023
- Covid-19 /: Hong Kong approval expands mainlanders’ access to mRNA Covid shots
- Trade /: Chinese exporters lose some of their edge from a weakening yuan
China’s State Drugmakers Scramble to Stock Pharmacy Shelves Amid Run on Covid Medicines
- Some state-owned drugmakers have moved to round-the-clock production and ramped up overseas procurement after the sudden reversal of China’s “zero-Covid” policy cleared pharmacy shelves of fever and cough medicines.
- After acute outbreaks in Beijing and Guangzhou overran Covid controls, demand has exploded across the country for so-called “anti-epidemic drugs,”
- According to data provided to Caixin by JD Health, the pharmacy platform saw an 18-fold spike in sales of anti-epidemic drugs in the week to Dec. 4, compared to the week to Nov. 4.
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