User blogs
A Charleston woman was given a $3 lottery ticket and it has paid off, winning her $100,000.Get more news about 彩票包网,you can vist nb68.com
WCIV-TV reports the winning ticket was purchased at the Dodges Store #863 on Johns Island. That business received $1,000 for selling the ticket.
Having never played the lottery before, the woman — whose name has not been released — was surprised when the Lady Jumbo Bucks Crossword ticket spelled out 11 words to win her the game’s top prize.
She says the ticket was a gift from “a dear friend” and she still “gets emotional thinking about it.”
There are two top prizes of $100,000 in the $3 Lady Jumbo Bucks Crossword game with odds of winning listed at 1 in 600,000.
WCIV-TV reports the winning ticket was purchased at the Dodges Store #863 on Johns Island. That business received $1,000 for selling the ticket.
Having never played the lottery before, the woman — whose name has not been released — was surprised when the Lady Jumbo Bucks Crossword ticket spelled out 11 words to win her the game’s top prize.
She says the ticket was a gift from “a dear friend” and she still “gets emotional thinking about it.”
There are two top prizes of $100,000 in the $3 Lady Jumbo Bucks Crossword game with odds of winning listed at 1 in 600,000.
Winning Lottery in Nagaland
Guwahati: A rickshaw puller from West Bengal has become an overnight star after winning a lottery jackpot worth Rs 50 lakh. Gaur Das, a resident of Guskara in Purba Barddhaman district, won the first prize in Government of Nagaland's State Lottery on Sunday.Get more news about 菲律宾牛博包网,you can vist nb68.com
Das and his union members were supposed to go for a picnic but the plan got cancelled due to rain. Das chanced upon the lottery ticket while returning home when a lottery seller almost forced him to buy that ticket. Das said he was initially reluctant as he only had Rs 70 in his pocket but when the seller repeatedly requested him, he gave in and bought the ticket for Rs 30.
On Sunday afternoon he went to a nearby lottery ticket shop to check the result and found that he had won the first prize of Rs 50 lakh. He was overwhelmed and rushed home and shared this news with his wife, he said. He didn’t disclose this to his neighbour thinking of his safety. On Monday, he submitted the ticket to a nearby bank.
People have been thronging to his house ever since the news became public.
Das lives with his widowed mother, wife, two daughters and a son. Since his income is not sufficient to sustain the family of six, his wife and mother work as daily wage labourers. His elder son is in class 3 and two daughters have just been admitted in primary school. Das also often took up daily wage work to meet the family’s financial needs.
Das told News18 that he will build a new house with the lottery money as it is difficult for his family of six to live in the current house. He also plans to utilise this money to properly educate his children.
The first prize of this lottery is Rs 50 lakhs, second prize is Rs 9,000
while the third winner will receive Rs 500, fourth prize is Rs 250 and
the last prize is fixed at Rs 120.Get more news about 电子游戏包网,you can vist loto98.com
The consolation prize is of Rs 1000, which is more than the third prize. The price of a lottery ticket for Dear Bangalakshmi Teesta lottery is Rs 6.
There are designated days for the lottery results. Every Monday at 4pm, the results of this lottery are declared.
Here are the instructions for checking the lottery results.
To claim the prize, winners need to bring their lottery ticket to the West Bengal Gazette office. Winners can claim the prize up to 30 days after the declaration of lottery results.
Officers will carry out a verification process after receiving the winning ticket. Once the process is complete and the authenticity of the ticket has been proved, the winner is given the prize money.
Lottery is given to winners after taxes are deducted from the winning amount.
Different lotteries are drawn every day of the week. The weekly names of the West Bengal State Lottery Department are Dear Bangalakshmi Teesta for Monday, Dear Bangalakshmi Torsha for Tuesday, Dear Bangabhumi Raidak for Wednesday, Dear Bangabhumi Bhagirathi for Thursday and Dear Bangabhumi Ajay for Friday. The names of the weekend lotteries are Dear Bangasree Damodar which is drawn every Saturday while Dear Bangasree Ichamati is announced every Sunday.
The consolation prize is of Rs 1000, which is more than the third prize. The price of a lottery ticket for Dear Bangalakshmi Teesta lottery is Rs 6.
There are designated days for the lottery results. Every Monday at 4pm, the results of this lottery are declared.
Here are the instructions for checking the lottery results.
To claim the prize, winners need to bring their lottery ticket to the West Bengal Gazette office. Winners can claim the prize up to 30 days after the declaration of lottery results.
Officers will carry out a verification process after receiving the winning ticket. Once the process is complete and the authenticity of the ticket has been proved, the winner is given the prize money.
Lottery is given to winners after taxes are deducted from the winning amount.
Different lotteries are drawn every day of the week. The weekly names of the West Bengal State Lottery Department are Dear Bangalakshmi Teesta for Monday, Dear Bangalakshmi Torsha for Tuesday, Dear Bangabhumi Raidak for Wednesday, Dear Bangabhumi Bhagirathi for Thursday and Dear Bangabhumi Ajay for Friday. The names of the weekend lotteries are Dear Bangasree Damodar which is drawn every Saturday while Dear Bangasree Ichamati is announced every Sunday.
One lucky person will be pocketing $492,568 after a winning Jersey Cash 5
ticket was sold at a grocery store in the township.The lucky winner
purchased the ticket at Acme Markets, located on Route 515 in Vernon,
for Saturday’s drawing, according to New Jersey lottery officials.Get
more news about https://www.loto98.com,you can vist loto98.com
The winner matched all five numbers drawn, which were: 02, 12, 30, 33 and 39. The XTRA number was: 4.Acme Markets will receive a $2,000 bonus for selling the winning ticket.
Retailers across the state sold 471,617 tickets for Saturday’s drawingThe overall odds of winning any monetary amount in the Jersey Cash 5 drawing is one in 133; the odds of winning the jackpot is one in 962,598.
Jersey Cash 5 drawings are held every night at approximately 7:57 pm. Tickets must be purchased prior to 7:53 the night of the drawing. Adding the XTRA number increased non-jackpot prizes up to five times.
No one won the jackpot during Sunday’s drawing with tonight’s jackpot an estimated $136,000.
The winner matched all five numbers drawn, which were: 02, 12, 30, 33 and 39. The XTRA number was: 4.Acme Markets will receive a $2,000 bonus for selling the winning ticket.
Retailers across the state sold 471,617 tickets for Saturday’s drawingThe overall odds of winning any monetary amount in the Jersey Cash 5 drawing is one in 133; the odds of winning the jackpot is one in 962,598.
Jersey Cash 5 drawings are held every night at approximately 7:57 pm. Tickets must be purchased prior to 7:53 the night of the drawing. Adding the XTRA number increased non-jackpot prizes up to five times.
No one won the jackpot during Sunday’s drawing with tonight’s jackpot an estimated $136,000.
World of Warcraft has been around for almost 16 years to date and has
surpassed and sets limits for MMO games worldwide, crowning itself as
the most popular MMO to have ever graced the world of gaming. World of
Warcraft or WoW for short, received a separate version known as WoW
classic in 2019.To get more news about Buy WoW Classic Items, you can visit lootwowgold official website.
WoW classic was Blizzard’s attempt at letting their player base relive the memories and nostalgia of the base game that was released in 2004. With mind-blowingly difficult enemies that force group coordination, quests that make you question your skill and lack of quest markers, WoW Classic is the hard mode of the retail version of World of Warcraft that is out today.
When the game was released in 2019, the result paled in comparison to what was expected; many expected a hundred thousand players maximum to join the grounds, but instead millions of die-hard fans flocked in to replay their favorite MMO from their childhood. The numbers almost reach one million players upon release with millions of viewers actively taking part in streams relating to the game.
World of Warcraft Classic is the original World of Warcraft, with a few minor tweaks and adjustments to make it more playable in the current era of gaming. The art, the text and the NPCs are all left untouched from the original launch. The developer team has also opted to keep certain bugs that were in the original WoW, thereby making World of Warcraft Classic extremely similar to it both in feel and playability.
The gameplay is however a bit different from the modern retail version of WoW, players do not have to worry about many status effects such as interrupts, purges and dispels that did not exist at the time; instead players are advised to be more selective in their talent tree, as it matters a lot more in WoW classic when compared with the modern retail version.
Mobs and monsters are not easy to defeat in WoW classic when it is compared with the modern version of WoW. The monsters hit hard and since they do not scale, it is very tough for beginners, on most occasions they will out-level your character. Hit rating is back in WoW classic, and in general, you have a higher tendency to end up dead.
It is challenging, WoW classic is so much more challenging than the modern retail version of WoW. The original vanilla game was hard and difficult and that has been preserved in WoW classic, which could be both an upside and a downside.
This is what made WoW popular in the first place. What you see, experience and feel in WoW Classic is what made it the most played MMORPG in the world. These are the elements that combined together to be that fantastic title that millions of players loved over the years; and that is why WoW Classic is that much good. It is time tested, players loved the concept back then and so they continue to do now in 2020.
It is also not a hidden fact that players that play WoW Classic are actually older than most gaming communities in the world, this is mostly because WoW Classic is actually a revamp of a really old game, so most of the players that come to enjoy it are old as the game itself. This brings forth a more mature community that understands the game thoroughly preventing any form of unnecessary friction and toxicity.
WoW classic was Blizzard’s attempt at letting their player base relive the memories and nostalgia of the base game that was released in 2004. With mind-blowingly difficult enemies that force group coordination, quests that make you question your skill and lack of quest markers, WoW Classic is the hard mode of the retail version of World of Warcraft that is out today.
When the game was released in 2019, the result paled in comparison to what was expected; many expected a hundred thousand players maximum to join the grounds, but instead millions of die-hard fans flocked in to replay their favorite MMO from their childhood. The numbers almost reach one million players upon release with millions of viewers actively taking part in streams relating to the game.
World of Warcraft Classic is the original World of Warcraft, with a few minor tweaks and adjustments to make it more playable in the current era of gaming. The art, the text and the NPCs are all left untouched from the original launch. The developer team has also opted to keep certain bugs that were in the original WoW, thereby making World of Warcraft Classic extremely similar to it both in feel and playability.
The gameplay is however a bit different from the modern retail version of WoW, players do not have to worry about many status effects such as interrupts, purges and dispels that did not exist at the time; instead players are advised to be more selective in their talent tree, as it matters a lot more in WoW classic when compared with the modern retail version.
Mobs and monsters are not easy to defeat in WoW classic when it is compared with the modern version of WoW. The monsters hit hard and since they do not scale, it is very tough for beginners, on most occasions they will out-level your character. Hit rating is back in WoW classic, and in general, you have a higher tendency to end up dead.
It is challenging, WoW classic is so much more challenging than the modern retail version of WoW. The original vanilla game was hard and difficult and that has been preserved in WoW classic, which could be both an upside and a downside.
This is what made WoW popular in the first place. What you see, experience and feel in WoW Classic is what made it the most played MMORPG in the world. These are the elements that combined together to be that fantastic title that millions of players loved over the years; and that is why WoW Classic is that much good. It is time tested, players loved the concept back then and so they continue to do now in 2020.
It is also not a hidden fact that players that play WoW Classic are actually older than most gaming communities in the world, this is mostly because WoW Classic is actually a revamp of a really old game, so most of the players that come to enjoy it are old as the game itself. This brings forth a more mature community that understands the game thoroughly preventing any form of unnecessary friction and toxicity.
World of Warcraft Classic, the game mode that has wholly copied the past
one more than ten years ago has exceeded everyone's expectations.
Blizzard has added more servers for it, the number of long-term
overcrowded players and high ranking in past three weeks, everyone
realizes that WOW Classic is almost the most successful game of Blizzard
this year, and magically, the old game can attract players of all ages,
not just for nostalgia.To get more news about buy gold classic wow, you can visit lootwowgold official website.
However, once an MMORPG becomes popular, more focus was put on it, players spent a lot of time trying to find bugs in WOW Classic and use it, now it turns out that they have succeeded, although it is not allowed by Blizzard.
In recent days, a player of WOW Classic has gained tremendous wealth, that's because he found an exploit and earned 100,000 WOW Classic Gold with his companions.
It seems to be the first time to find exploit in WOW Classic, the game-breaking bug took advantage of the layering system, which was the method used by the first player who reached level 60, but this time, the players in the exploit were allowed to skip the dungeon directly and then repeated killing the final boss to make money.
According to the normal settings, a team of 5-10 players needs to fight together, spend an hour through the dungeon and complete the quests, but one user left his group and reinvited his teammates, reset the dungeon to get rid of the quests.
Obviously, Blizzard is very angry about it, and the community manager wrote on the post, "As soon as possible, we will identify those who knowingly abused this bug in exploitative manner...we will then take appropriate punitive measures", as a result, the most serious punishment faced by the player who broke the game rules and his companions may be forever banned from playing WOW Classic again.
It is very clear that Blizzard has never liked players to buy WOW Classic Gold in abnormal methods, but it doesn't change that someone violates the game's terms of service in order to make profits.
Some gold-selling sites are in full swing, and the price of one WOW Classic Gold is even higher than one dollar on some sites, it sounds a bit outrageous, but the number of gold is still in short supply, for it, we can only suggest purchasing in a more rational way.
However, once an MMORPG becomes popular, more focus was put on it, players spent a lot of time trying to find bugs in WOW Classic and use it, now it turns out that they have succeeded, although it is not allowed by Blizzard.
In recent days, a player of WOW Classic has gained tremendous wealth, that's because he found an exploit and earned 100,000 WOW Classic Gold with his companions.
It seems to be the first time to find exploit in WOW Classic, the game-breaking bug took advantage of the layering system, which was the method used by the first player who reached level 60, but this time, the players in the exploit were allowed to skip the dungeon directly and then repeated killing the final boss to make money.
According to the normal settings, a team of 5-10 players needs to fight together, spend an hour through the dungeon and complete the quests, but one user left his group and reinvited his teammates, reset the dungeon to get rid of the quests.
Obviously, Blizzard is very angry about it, and the community manager wrote on the post, "As soon as possible, we will identify those who knowingly abused this bug in exploitative manner...we will then take appropriate punitive measures", as a result, the most serious punishment faced by the player who broke the game rules and his companions may be forever banned from playing WOW Classic again.
It is very clear that Blizzard has never liked players to buy WOW Classic Gold in abnormal methods, but it doesn't change that someone violates the game's terms of service in order to make profits.
Some gold-selling sites are in full swing, and the price of one WOW Classic Gold is even higher than one dollar on some sites, it sounds a bit outrageous, but the number of gold is still in short supply, for it, we can only suggest purchasing in a more rational way.
Blizzard announced earlier this week that it planned to release WoW
Tokens in Classic for the Chinese region at the request of the region’s
player base. Since then, players in North American and Europe have been
concerned that the change may spread to all regions. To get more news
about buy classic wow gold, you can visit lootwowgold official website.
Asmongold addressed the issue in a video posted on Twitter last night, saying that he thinks there’s more than a 50 percent chance Blizzard makes the controversial change.
“The fact is guys, I think it’s about a 60 percent chance that we’re going to see the WoW Token added to Classic WoW here,” Asmongold said.
Blizzard recently released a PTR for the next phase of Classic content and some people have reported seeing WoW Tokens as purchasable. The change is seen as taboo by Classic purists who don’t want the game to turn into a pay-to-win system.
While the tokens would certainly have an effect on the economy of many realms, Asmongold isn’t concerned about it destroying Classic altogether.
“WoW Tokens are not going to kill Classic WoW,” Asmongold said. “Let’s be realistic here. I don’t want to be overdramatic… but it will diminish the sense of meaning that somebody has when they get something.”
While he was playing the game on stream, Asmongold regularly received handouts from viewers of his stream who would farm items or gold and give them to him.
Many viewers hated the fact that receiving tons of gifts may have ruined his Classic experience. While Asmongold said that being gifted things is easier to ignore because it’s just him and a select number of popular streamers, the proliferation of that to anyone who has some extra cash laying around could be problematic.
“Now every single dude, that’s got a lot of money and not a lot of time is sitting there flasks all day,” Asmongold said.
Over the course of his nine-minute chat, Asmongold debunked numerous myths about how WoW Tokens would completely ruin the WoW economy with inflation. But he didn’t advocate for the implementation of them.
Instead, he balanced a fine line of making sure the correct information was relayed to people and also making sure various peripheral factors were taken into consideration.
“A lot of the criticism of WoW Tokens is unfounded and factually wrong,” Asmongold said. “But there’s a psychological element to it that I think is completely real.”
Asmongold addressed the issue in a video posted on Twitter last night, saying that he thinks there’s more than a 50 percent chance Blizzard makes the controversial change.
“The fact is guys, I think it’s about a 60 percent chance that we’re going to see the WoW Token added to Classic WoW here,” Asmongold said.
Blizzard recently released a PTR for the next phase of Classic content and some people have reported seeing WoW Tokens as purchasable. The change is seen as taboo by Classic purists who don’t want the game to turn into a pay-to-win system.
While the tokens would certainly have an effect on the economy of many realms, Asmongold isn’t concerned about it destroying Classic altogether.
“WoW Tokens are not going to kill Classic WoW,” Asmongold said. “Let’s be realistic here. I don’t want to be overdramatic… but it will diminish the sense of meaning that somebody has when they get something.”
While he was playing the game on stream, Asmongold regularly received handouts from viewers of his stream who would farm items or gold and give them to him.
Many viewers hated the fact that receiving tons of gifts may have ruined his Classic experience. While Asmongold said that being gifted things is easier to ignore because it’s just him and a select number of popular streamers, the proliferation of that to anyone who has some extra cash laying around could be problematic.
“Now every single dude, that’s got a lot of money and not a lot of time is sitting there flasks all day,” Asmongold said.
Over the course of his nine-minute chat, Asmongold debunked numerous myths about how WoW Tokens would completely ruin the WoW economy with inflation. But he didn’t advocate for the implementation of them.
Instead, he balanced a fine line of making sure the correct information was relayed to people and also making sure various peripheral factors were taken into consideration.
“A lot of the criticism of WoW Tokens is unfounded and factually wrong,” Asmongold said. “But there’s a psychological element to it that I think is completely real.”
QS Quacquarelli Symonds, a global higher- and business-education
analyst, just released its 2021 Global MBA Ranking.To get more news
about Best MBA program in China, you can visit acem.sjtu.edu.cn official website.
To find the best MBA programs, QS used five key metrics to develop an overall index: employability, entrepreneurship and alumni outcomes, return on investment, thought leadership, and class and faculty diversity.
"In addition to analyzing program-related inputs, QS also considered the reputation of specific business schools from the perspective of nearly 37,000 global employers and more than 34,000 global academics," Dr. Andrew MacFarlane, the rankings manager at QS, said about the latest world rankings. "Finally, we mapped the education paths of 27,831 successful alumni back to specific institutions."
Interest in recruiting business school graduates has picked up again after falling amid uncertainty earlier in the pandemic, according to a Graduate Management Admission Council survey in September.Stanford Graduate School of Business ranked at the top again, while the University of Pennsylvania's Wharton School dropped to second place after tying for first in last year's ranking.
Read on to find out the top 50 global MBA programs, along with typical costs and the average salary earned three months after graduating. The full list and other rankings, such as programs specializing in finance or supply chain management, can be found on QS' TopMBA website.
To find the best MBA programs, QS used five key metrics to develop an overall index: employability, entrepreneurship and alumni outcomes, return on investment, thought leadership, and class and faculty diversity.
"In addition to analyzing program-related inputs, QS also considered the reputation of specific business schools from the perspective of nearly 37,000 global employers and more than 34,000 global academics," Dr. Andrew MacFarlane, the rankings manager at QS, said about the latest world rankings. "Finally, we mapped the education paths of 27,831 successful alumni back to specific institutions."
Interest in recruiting business school graduates has picked up again after falling amid uncertainty earlier in the pandemic, according to a Graduate Management Admission Council survey in September.Stanford Graduate School of Business ranked at the top again, while the University of Pennsylvania's Wharton School dropped to second place after tying for first in last year's ranking.
Read on to find out the top 50 global MBA programs, along with typical costs and the average salary earned three months after graduating. The full list and other rankings, such as programs specializing in finance or supply chain management, can be found on QS' TopMBA website.
Times Higher Education (THE) on Wednesday announced that China's
Tsinghua University has become the first ever Asian university to
achieve a top 20 position in the rankings since the current methodology
was launched in 2011.To get more news about best university in china for mba, you can visit acem.sjtu.edu.cn official website.
According to the THE World University Rankings 2021, Tsinghua University (joint 20th) climbed three places since last year despite a record 1,527 institutions qualifying this time round.
Towards the top of the table, Peking University (23rd), Fudan University (joint 70th), Zhejiang University and Shanghai Jiao Tong University (100th) all improved their positions since last year. This has resulted in a record number of Chinese mainland universities ranking in the top 100 since the rankings began.
Phil Baty, chief knowledge officer at THE, told Xinhua that this year marks a major milestone, as Chinese mainland disrupts the traditional domination of Western universities at the top of the table, breaking into the top 20 for the first time, and doubling its representation in the top 100 compared with last year.
This positive trend for Chinese mainland universities "looks as though it will continue, particularly as we navigate the impact of the coronavirus pandemic. With a likely decrease in the international flow of students and staff around the world and possible funding challenges among the West's established higher education sectors we could see China, and Asia more widely, capitalize," he said.
"If homegrown talent from China stay in China instead of making its traditional migration to elite Western institutions, particularly in the U.S. and the UK, we could see the start of a dramatic rebalancing of the global knowledge economy," he added.
Britain's University of Oxford retained top spot for the fifth consecutive year. The latest edition of the Rankings saw 18 countries and regions represented in the top 100, and 93 represented overall, demonstrating that geopolitical competition in the global knowledge economy is intensifying.
A shift in power has been noted as the research quality of the middle-ranking Chinese mainland and U.S. universities (middle 50 percent of ranked institutions) is beginning to converge for the first time, according to THE.
The THE World University Rankings 2021 saw 141 universities qualify for the first time. India has the highest total of debutant universities with 14, closely followed by the U.S. (13), Chinese mainland (10), Russia and Japan (both 9), and Iran (8).
The THE World University Rankings is seen as one of the most balanced and comprehensive global rankings, with 13 separate performance metrics covering the full range of core activities for research-intensive universities: teaching, research, knowledge transfer, and international outlook.
This year's ranking analyzed over 86 million citations across more than 13.6 million research publications and included survey responses from 22,000 scholars globally.
According to the THE World University Rankings 2021, Tsinghua University (joint 20th) climbed three places since last year despite a record 1,527 institutions qualifying this time round.
Towards the top of the table, Peking University (23rd), Fudan University (joint 70th), Zhejiang University and Shanghai Jiao Tong University (100th) all improved their positions since last year. This has resulted in a record number of Chinese mainland universities ranking in the top 100 since the rankings began.
Phil Baty, chief knowledge officer at THE, told Xinhua that this year marks a major milestone, as Chinese mainland disrupts the traditional domination of Western universities at the top of the table, breaking into the top 20 for the first time, and doubling its representation in the top 100 compared with last year.
This positive trend for Chinese mainland universities "looks as though it will continue, particularly as we navigate the impact of the coronavirus pandemic. With a likely decrease in the international flow of students and staff around the world and possible funding challenges among the West's established higher education sectors we could see China, and Asia more widely, capitalize," he said.
"If homegrown talent from China stay in China instead of making its traditional migration to elite Western institutions, particularly in the U.S. and the UK, we could see the start of a dramatic rebalancing of the global knowledge economy," he added.
Britain's University of Oxford retained top spot for the fifth consecutive year. The latest edition of the Rankings saw 18 countries and regions represented in the top 100, and 93 represented overall, demonstrating that geopolitical competition in the global knowledge economy is intensifying.
A shift in power has been noted as the research quality of the middle-ranking Chinese mainland and U.S. universities (middle 50 percent of ranked institutions) is beginning to converge for the first time, according to THE.
The THE World University Rankings 2021 saw 141 universities qualify for the first time. India has the highest total of debutant universities with 14, closely followed by the U.S. (13), Chinese mainland (10), Russia and Japan (both 9), and Iran (8).
The THE World University Rankings is seen as one of the most balanced and comprehensive global rankings, with 13 separate performance metrics covering the full range of core activities for research-intensive universities: teaching, research, knowledge transfer, and international outlook.
This year's ranking analyzed over 86 million citations across more than 13.6 million research publications and included survey responses from 22,000 scholars globally.
Since the Jan. 23, 2020 Wuhan lockdown, financial institutions have been
assessing COVID-19’s impact and revising their forecasts on China. A
sharp downturn in Q1 2020 (with a high possibility of extending to Q2)
and an economic rebound in the second half was foreseen. Some sectors
are showing signs of recovery in Q2.To get more economy news today, you can visit shine news official website.
Many more have died since COVID-19 became a pandemic on March 11, and the International Monetary Fund warned of “a recession at least as bad as the Global Financial Crisis.”1 Forecasts on China were further affected by global supply chain disruptions and the negative global economic outlook. After March 16, a day dubbed “another Black Monday,”2 China’s 2020 average growth forecast declined from 5 to 2.6 percent.
China encouraged less-affected sectors and manufacturing-heavy provinces to get “back to work,” and areas outside Hubei lifted traffic restrictions.3 China reported that 71.7 percent of small and medium-sized businesses resumed normal operations on March 24.4
As provinces gradually resumed work, various sectors saw positive signs. Passenger traffic increased since the second week of February. The latest March Purchasing Managers’ Indexes (PMI) rebounded to above 50 percent after plunging below 30 percent in February. These suggest stabilization of domestic production activities.
However, some services face longer disruptions (restaurants, tourism and sports) where infection risks are high due to people gathering in confined spaces. Recovery rate in tourism and entertainment is thus lower than in manufacturing. As of March 22, only a third of tier-A national tourist sites5 and less than 5 percent of cinemas have returned to normal operations.6
To compensate for economic losses, some provinces plan to boost local tourism in Q2 with initiatives such as longer weekends, cash coupons and lower ticket prices.7 Other provinces might introduce stimulus packages for these sectors in the coming weeks. They will be especially important in today’s context when China’s economic recovery relies on domestic consumption. But even with supporting policies, the contribution of such sectors to the economy may be readjusted for a longer term.
The unprecedented lockdowns in China and other social distancing measures worldwide will impact how businesses, especially in the services industry, strive to remain as functional as possible during emergencies. Aside from policy incentives, resilient infrastructure—including efficient transport logistics, reliable digital connectivity and accessible social facilities—can help mitigate losses and facilitate recovery.
There are concerns over the agricultural sector as food production suspension and transport logistics disruptions affect China’s food security. These factors may have aggravated food inflation in February nationwide, particularly in Hubei and for fresh meat which is reliant on efficient logistics. Soybean meal prices rose 9.7 percent in late March against mid-March (China is a soy bean importer).8 External factors—such as threats from pests like desert locusts and fall armyworms, and food export restrictions in other countries—may further complicate efforts to maintain stable food prices.9
As the outbreak intensifies, countries may further restrict food exports to ensure domestic needs are prioritized. Preventing food prices from rising and mitigating the potential impact of such increases will likely be an imminent task for China in the short term.
China needs to watch the overall food situation as this could spread to the rest of the economy affected by COVID-19.10 In general, China is self-sufficient in terms of securing its basic food need. In 2018, over 95 percent of China’s cereals consumption was supplied domestically.11 For other economies where food supply is dependent on import and transport connectivity is underdeveloped, disruptions to domestic food supplies caused by COVID-19 will be more significant.
As of Feb. 29, 2020, offshore investors held RMB2.28 trillion (USD322 billion) in Chinese bonds, a record high.12 February foreign holdings of Chinese bonds saw a 30-percent year-on-year increase following a 25-percent increase in January. As central banks worldwide lower policy rates, interest rates in China (coupled with the reduced uncertainty as the spread of COVID-19 is curbed) made Chinese assets attractive to offshore investors. This resulted in yields on China’s 10-year government bond falling to 2.65 percent, lower than the 3.4 percent registered in the aftermath of the 2009 financial crisis and lower than the 3.2 percent observed in 2019. In Q1 2020, China’s corporates were also able to raise a record amount of cash (USD274 billion, up 26 percent compared with the same quarter in 2019) through bond issuances. The resilience of China’s bond and stock markets continued to point to China’s attractiveness to investors.
Many more have died since COVID-19 became a pandemic on March 11, and the International Monetary Fund warned of “a recession at least as bad as the Global Financial Crisis.”1 Forecasts on China were further affected by global supply chain disruptions and the negative global economic outlook. After March 16, a day dubbed “another Black Monday,”2 China’s 2020 average growth forecast declined from 5 to 2.6 percent.
China encouraged less-affected sectors and manufacturing-heavy provinces to get “back to work,” and areas outside Hubei lifted traffic restrictions.3 China reported that 71.7 percent of small and medium-sized businesses resumed normal operations on March 24.4
As provinces gradually resumed work, various sectors saw positive signs. Passenger traffic increased since the second week of February. The latest March Purchasing Managers’ Indexes (PMI) rebounded to above 50 percent after plunging below 30 percent in February. These suggest stabilization of domestic production activities.
However, some services face longer disruptions (restaurants, tourism and sports) where infection risks are high due to people gathering in confined spaces. Recovery rate in tourism and entertainment is thus lower than in manufacturing. As of March 22, only a third of tier-A national tourist sites5 and less than 5 percent of cinemas have returned to normal operations.6
To compensate for economic losses, some provinces plan to boost local tourism in Q2 with initiatives such as longer weekends, cash coupons and lower ticket prices.7 Other provinces might introduce stimulus packages for these sectors in the coming weeks. They will be especially important in today’s context when China’s economic recovery relies on domestic consumption. But even with supporting policies, the contribution of such sectors to the economy may be readjusted for a longer term.
The unprecedented lockdowns in China and other social distancing measures worldwide will impact how businesses, especially in the services industry, strive to remain as functional as possible during emergencies. Aside from policy incentives, resilient infrastructure—including efficient transport logistics, reliable digital connectivity and accessible social facilities—can help mitigate losses and facilitate recovery.
There are concerns over the agricultural sector as food production suspension and transport logistics disruptions affect China’s food security. These factors may have aggravated food inflation in February nationwide, particularly in Hubei and for fresh meat which is reliant on efficient logistics. Soybean meal prices rose 9.7 percent in late March against mid-March (China is a soy bean importer).8 External factors—such as threats from pests like desert locusts and fall armyworms, and food export restrictions in other countries—may further complicate efforts to maintain stable food prices.9
As the outbreak intensifies, countries may further restrict food exports to ensure domestic needs are prioritized. Preventing food prices from rising and mitigating the potential impact of such increases will likely be an imminent task for China in the short term.
China needs to watch the overall food situation as this could spread to the rest of the economy affected by COVID-19.10 In general, China is self-sufficient in terms of securing its basic food need. In 2018, over 95 percent of China’s cereals consumption was supplied domestically.11 For other economies where food supply is dependent on import and transport connectivity is underdeveloped, disruptions to domestic food supplies caused by COVID-19 will be more significant.
As of Feb. 29, 2020, offshore investors held RMB2.28 trillion (USD322 billion) in Chinese bonds, a record high.12 February foreign holdings of Chinese bonds saw a 30-percent year-on-year increase following a 25-percent increase in January. As central banks worldwide lower policy rates, interest rates in China (coupled with the reduced uncertainty as the spread of COVID-19 is curbed) made Chinese assets attractive to offshore investors. This resulted in yields on China’s 10-year government bond falling to 2.65 percent, lower than the 3.4 percent registered in the aftermath of the 2009 financial crisis and lower than the 3.2 percent observed in 2019. In Q1 2020, China’s corporates were also able to raise a record amount of cash (USD274 billion, up 26 percent compared with the same quarter in 2019) through bond issuances. The resilience of China’s bond and stock markets continued to point to China’s attractiveness to investors.