A fan made from Chinese currency. Photo: Xinhua

China will step up efforts to support green industries with innovative financial products and services, said the People’s Bank of China (PBoC).

The PBoC will push the development of green loans, bonds, and insurance, as well as derivatives as part of efforts to support peaking carbon dioxide emissions and achieving carbon neutrality, Wang Xin, an official with the country’s central bank, said at a press briefing.

By the end of last year, the country’s outstanding green loans reached nearly 12 trillion yuan (US$1.86 trillion), topping the world, Wang said. The bad loan ratio of green loans stood far below the average of the loans issued by commercial banks, he said

To increase green transition support, the central bank will optimize financial institutions’ evaluations of their green finance businesses. It will also make better use of digital and financial technology in environmental information disclosure, Wang said.

Central and Eastern Europe

China plans to import more than US$170 billion worth of goods from Central and Eastern European Countries (CEEC) in the next five years, Chinese President Xi Jinping said at the China-CEEC Summit in Beijing on Tuesday.

Xi said China is aiming to double the number of agricultural products it imports from the region and set a target to increase the trade volume for agricultural products by 50%.

China will accelerate the establishment of a new development pattern, featuring dual circulation, which takes the domestic market as the mainstay and allows domestic and foreign markets to boost each other, he said.

Awake craniotomy

The Department of Neurosurgery at Huashan Hospital performed an anesthesia awake surgery on a patient diagnosed with brain arteriovenous malformation (BAVM) adjacent to language area with multiple intracranial aneurysms.

A 60-year-old man developed headaches before he was admitted to hospital. His emergency head computer tomography showed haemorrhage caused by a ruptured middle cerebral artery (MCA) aneurysm on the right side of his brain. The angiography showed that he suffered from rare bilateral multiple intracranial aneurysms and a left frontal BAVM, which were clinically critical and extremely fatal.

Huashan Hospital in Shanghai Photo: Asia Times

Huashan Hospital’s surgical team, which consists of eight members, designed a two-staged hybrid surgery approach to minimizing the disease and financial burden of the patient. In the first stage, the team clipped the right ruptured aneurysm and treated the other two unruptured ones to reduce the risk of future rupture. In the second stage, the team addressed the other two left aneurysms and the BAVM.

“Awake anesthesia is a procedure now widely applied in resecting the brain tumor. We can locate the eloquent area with the brain mapping, remove the tumor piece by piece and respect the border of eloquent gyrus. But removing BAVM is a different story, we only have one chance to remove the nidus en bloc,” said Song Jianping, associate professor of the Neurosurgical Department at Huashan Hospital, adding that such surgery was almost second to none in the world.

A hybrid operating room for surgery Photo: Asia Times

E-vouchers

Beijing will issue e-vouchers worth 40 million yuan (US$6.2 million) to residents who answer the government’s call to stay put during the upcoming Spring Festival holiday, local authorities said on Tuesday.

The Spring Festival, which falls on February 12 this year, usually sees hundreds of millions of Chinese head to their hometowns for family reunions. But this year, the capital city has advised its residents to avoid unnecessary travel due to the Covid-19.

The Beijing Municipal Commerce Bureau said on Tuesday that the vouchers will be issued via four online shopping platforms, including JD.com and Suning, and two food delivery platforms, Meituan and Ele.me, between February 12 and 16.

Company news

Chinese technology giant Tencent Holdings has become the target of a fresh anti-monopoly complaint from regulators, this time from a supplier of smart vehicle technology and a General Motors China venture.

The supplier, Shanghai PATEO, accused Tencent in a statement of abusing its messaging app’s dominant market position to restrict sales of its products. Tencent responded to the allegation saying that “maliciously sensationalizing monopoly” should not be a shield for rights infringement.

PATEO offers voice recognition features and other mobile applications that rely on Tencent’s all-in-one WeChat app. It added that Tencent has been asking car companies to stop using PATEO’s Internet of Vehicles products since August 2020.

Tencent said in the statement that PATEO developed the Xinbaojun Autolink app and WeChat Notification Assistant software without gaining authorization from Tencent.

The stories were compiled by Nadeem Xu and KoKo and first published at ATimesCN.com.