BIG FIVE IDEAS

Today’s highly discussed Global Times stories on social media VIRUS IMPACT

Chinese state-owned enterprises (SOEs) saw profits plunge 52.7 percent year-onyear in the first five months to about 663 billion yuan ($93.68 billion), impacted by COVID-19. But SOE profits soared 251.1 percent month-on-month in May, reflecting a rapid recovery.

SEMICONDUCTOR SECTOR

China’s semiconductor sector is set to maintain growth in the first half of the year, said industry observers. Shanghai, a long-time leader in the nation’s chipset industry, achieved a 38.7 percent gain in IC sales from January to May, a welcome jump amid coronavirus pandemic headwinds and intensified US pressure.

OUTBOUND DEALS FALL

The value of Chinese investors’ outbound deals in the first five months of 2020 was down 93 percent to $1.4 billion in Europe, and down 89 percent to $700 million in North America, dwarfed by M&A in China by foreign investment, which totaled $9 billion: Baker McKenzie

COVID-19 TEST VEHICLES

The first two Foton vehicles to facilitate COVID-19 nucleic acid tests have been put into operation in Beijing’s Chaoyang and Xicheng districts. Each vehicle has four sampling points and each point is capable of testing 100 people within one hour.

BLOCKCHAIN IRON ORE DEAL

BHP Group, a world-leading resources company, and China’s Baosteel Co have completed the first iron ore deal on blockchain through technology company MineHub. The deal was delivered in June and was worth $14 million, media reported on Monday.