Page 28 - 2022 White Paper on the Business Environment in China
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2 White Paper on the Business Environment in China
support to growth-enhancing policies. In the Global South. It had already donated vaccines to
longer run, in emerging market and developing more than 80 countries and three international
economies, policies to improve health and organizations and exported vaccines to more
education services, digital infrastructure, climate than 40 countries (CD, Who’s Approval).
resilience, and business and governance practices
will help mitigate the economic damage caused The pace of recovery in Asia and global
by the pandemic, reduce poverty and advance emerging improved as the rate of COVID-19
shared prosperity. In the context of weak fiscal vaccination accelerated in China. By June 2021,
positions and elevated debt, institutional reforms the vaccination volume in China accounted for
to spur organic growth are particularly important. around half of the volume distributed daily
Policymakers face formidable challenges-in public around the world. Over 639 million doses of the
health, debt management, budget policies, central vaccines have been administered across the
banking and structural reforms-as they try to country as of May 30. The Wall Street Journal
ensure that this still fragile global recovery gains said that concerns about the efficacy of Chinese
traction and sets a foundation for robust growth vaccines were probably misplaced, and quoted
(Xinhua, World Bank). trial data from the World Health Organization
as saying that Sinopharm's vaccine was 70%
The expectation by April 2021 was that China effective at preventing symptomatic COVID-19.
would produce more than 3 billion COVID-19 According to the Chilean government, the vaccine
vaccine doses of the vaccine by the end of 2021 from Sinovac has an efficacy of 67% in preventing
(Xinhua, 3B COVID), but only Pfizer-BioNTech, symptomatic disease, and was up to 85% effective
AstraZeneca and Johnson & Johnson vaccines in preventing hospitalization, 89% effective in
had obtained approval from the World Health preventing admission to an intensive care unit,
Organization for emergency use, an indication and 80 percent effective in preventing death
to national regulators that the vaccines were caused by the virus (CD, Faster). As of January
deemed to be safe and effective, and a seal 1st 2022, the National Health Commission said
of approval for the vaccines to be included in more than 2.84 billion doses of COVID-19 vaccines
COVAX, a global program to provide vaccines to had been administered on the Chinese mainland
the developing and least-developed countries. (Xinhua, Over 2.84b). Over 1.2 billion people
However, the US’s restrictions on exports of nationwide had finished the vaccination process
vaccines and raw materials for vaccine production by the end of 2021. (CD, Over 1.2 Billion)
citing vaccination of its own people as its first
priority, and the world's largest producer India's The Omicron Variant Outbreak
suspension of its vaccine exports due to its own
grave pandemic situation, made these vaccines There were growing concerns about a new
a rare commodity worth hoarding. Even as the variant of COVID-19 first identified in South Africa
vaccination ratio in some rich countries neared in November 2021. The omicron variant emerged
or had surpassed the level required for herd as millions of Americans returned home from
immunity, they still refuse to divert more vaccines Thanksgiving, and it presented heading into the
to help poorer countries. Although 1 billion doses Christmas season. As of this writing, the omicron
of vaccines had been administered worldwide, variant had been found in at least a dozen countries
only 1.6% of them had gone to African countries. around the world. Although the Center for Disease
Given this, news that the WHO's reviews of Control and Prevention hasn’t confirmed any cases
three more vaccines were near completion was in the United States, health officials said the variant
widely welcomed as a positive development. The is likely already there (WSOC TV).
global health body's reviews of the Sinopharm,
Moderna and Sinovac Biotech vaccine were In the rush to understand the threat posed by
finalized by the first week of May 2021. While the the Omicron variant, some experts were pointing
COVAX program was paralyzed by the shortage hopefully to early signs that it may cause only
of vaccines, China had been doing all it could to mild illness, without some of the trademark
provide vaccines for the needy population in the
28
support to growth-enhancing policies. In the Global South. It had already donated vaccines to
longer run, in emerging market and developing more than 80 countries and three international
economies, policies to improve health and organizations and exported vaccines to more
education services, digital infrastructure, climate than 40 countries (CD, Who’s Approval).
resilience, and business and governance practices
will help mitigate the economic damage caused The pace of recovery in Asia and global
by the pandemic, reduce poverty and advance emerging improved as the rate of COVID-19
shared prosperity. In the context of weak fiscal vaccination accelerated in China. By June 2021,
positions and elevated debt, institutional reforms the vaccination volume in China accounted for
to spur organic growth are particularly important. around half of the volume distributed daily
Policymakers face formidable challenges-in public around the world. Over 639 million doses of the
health, debt management, budget policies, central vaccines have been administered across the
banking and structural reforms-as they try to country as of May 30. The Wall Street Journal
ensure that this still fragile global recovery gains said that concerns about the efficacy of Chinese
traction and sets a foundation for robust growth vaccines were probably misplaced, and quoted
(Xinhua, World Bank). trial data from the World Health Organization
as saying that Sinopharm's vaccine was 70%
The expectation by April 2021 was that China effective at preventing symptomatic COVID-19.
would produce more than 3 billion COVID-19 According to the Chilean government, the vaccine
vaccine doses of the vaccine by the end of 2021 from Sinovac has an efficacy of 67% in preventing
(Xinhua, 3B COVID), but only Pfizer-BioNTech, symptomatic disease, and was up to 85% effective
AstraZeneca and Johnson & Johnson vaccines in preventing hospitalization, 89% effective in
had obtained approval from the World Health preventing admission to an intensive care unit,
Organization for emergency use, an indication and 80 percent effective in preventing death
to national regulators that the vaccines were caused by the virus (CD, Faster). As of January
deemed to be safe and effective, and a seal 1st 2022, the National Health Commission said
of approval for the vaccines to be included in more than 2.84 billion doses of COVID-19 vaccines
COVAX, a global program to provide vaccines to had been administered on the Chinese mainland
the developing and least-developed countries. (Xinhua, Over 2.84b). Over 1.2 billion people
However, the US’s restrictions on exports of nationwide had finished the vaccination process
vaccines and raw materials for vaccine production by the end of 2021. (CD, Over 1.2 Billion)
citing vaccination of its own people as its first
priority, and the world's largest producer India's The Omicron Variant Outbreak
suspension of its vaccine exports due to its own
grave pandemic situation, made these vaccines There were growing concerns about a new
a rare commodity worth hoarding. Even as the variant of COVID-19 first identified in South Africa
vaccination ratio in some rich countries neared in November 2021. The omicron variant emerged
or had surpassed the level required for herd as millions of Americans returned home from
immunity, they still refuse to divert more vaccines Thanksgiving, and it presented heading into the
to help poorer countries. Although 1 billion doses Christmas season. As of this writing, the omicron
of vaccines had been administered worldwide, variant had been found in at least a dozen countries
only 1.6% of them had gone to African countries. around the world. Although the Center for Disease
Given this, news that the WHO's reviews of Control and Prevention hasn’t confirmed any cases
three more vaccines were near completion was in the United States, health officials said the variant
widely welcomed as a positive development. The is likely already there (WSOC TV).
global health body's reviews of the Sinopharm,
Moderna and Sinovac Biotech vaccine were In the rush to understand the threat posed by
finalized by the first week of May 2021. While the the Omicron variant, some experts were pointing
COVAX program was paralyzed by the shortage hopefully to early signs that it may cause only
of vaccines, China had been doing all it could to mild illness, without some of the trademark
provide vaccines for the needy population in the
28
