Welcome to our 《Chinese Finance and Economy Briefing》 program! Today, we’ve got a mix of tech triumphs, trade twists, and tragic events to cover. First up, China has largely sidestepped the global Microsoft Exchange Server hack, thanks to its shift towards domestic IT systems and cloud providers like Alibaba, Tencent, and Huawei. Some even joked about getting an ‘early vacation’ due to the hack! Next, Africa’s trade deficit with China has shrunk as exports surged by 14% in the first half of 2024, fueled by increased mineral production and higher commodity prices. However, experts warn that this trend might not last, with a potential drop in copper exports on the horizon. Lastly, a devastating highway bridge collapse in western China has left at least 12 people dead and many more missing. Rescue efforts are in full swing, involving over 800 personnel, drones, and boats. President Xi Jinping and Premier Li Qiang have called for all-out rescue operations. Please stay tuned for more detailed coverage.
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