More Chinese are turning vegetarian, vegan restaurants on the rise. But why?

Agencies
February 26, 2018

Beijing, Feb 26: China - the world's largest market for beef, pork and poultry - is steadily growing wary of meat as health-conscious Chinese are taking to a vegetarian diet that has sparked mushrooming of vegan restaurants in the world's most populous country.

China's restaurant industry over the past few years is reporting growing number of entrepreneurs looking to capitalise on the popularity of healthy eating, which usually means a meatless, organic and environmentally-friendly diet.

The niche market of vegetarian and vegan eateries has never been more competitive, a recent report from various cities compiled by the Hong Kong-based South China Morning Post said.

Han Lili, a Shanghai-based artist who has tracked and mapped vegetarian and vegan restaurants in major Chinese cities including Shanghai, Chengdu, Lhasa, and Hong Kong since 2012, said it had been difficult to accurately count the number in operation in the past year or two because the market changed so rapidly.

In Shanghai, China's largest city, the number of vegan outlets soared from 49 in 2012 to more than 100 last year, she said. In Chengdu, the capital of Sichuan province, almost half the 80 eateries needed updating after her last count.

A report by research firm Euromonitor said though China is still the world's biggest market for pork, beef and poultry, the demand showed a decline in recent years.

A report by Chinadialogue.Net said sales of pork declined from 42.49 million tonnes in 2014 to 40.85 million tonnes in 2016. A new dietary guideline issued by China's health industry two years ago also suggested eating less meat, poultry and seafood.

The Chinese meat industry adds around 150 million tonnes of carbon dioxide to the atmosphere every year, according to one study.

The growing trend of vegetarianism showed more Chinese turning to fruits and vegetables. China currently consumes 40 percent of the world's fruit and vegetables, indicating the growing trend of vegetarianism in China.

UN trade figures show that between 2010 and 2016, China's imports of avocados rose from 1.9 tonnes to 25,000 tonnes a 13,000-fold increase.

According to one study, the vegan market in China is expected to rise by more than 17 per cent between 2015 and 2020. This will be the fastest rate of growth internationally in this time period and suggests a huge shift in consumer habits in Asia.

Health campaigns are also trying to influence people's habits. Environmental group WildAid held an event in Beijing in August 2017 to promote vegetarianism.

Popular actor Huang Xuan said his family is eating more and more vegetarian food, a change from the traditional diet in his native province of Gansu in China's northwest, which is high in beef and mutton.

He thinks it's because people are more aware of the links between meat-eating, high blood pressure and obesity.

In 2014, state-run Xinhua news agency quoted Public Radio International, an independent non-profit multi-media organisation, reporting that China's vegan population has reached more than 50 million.

Dr Xu Jia, a dietician who leads the China programme at the Physicians Committee for Responsible Medicine, a Washington-based NGO, said he estimated one percent would be closer to the truth.

A study conducted by researchers from Shanghai Jiao Tong University in 2016 surveyed more than 4,000 people in the city and found that 0.77 percent were vegetarians.

According to the world vegetarian outfits, India where vegetarianism was rooted in religion and culture estimated to have over 500 million vegetarians who shun meat in their meal.

Significantly, the vegan culture is spreading among young people in China which has a population of over 1.3 billion.

The Shanghai Jiao Tong University study also surveyed eight popular vegetarian restaurants in downtown Shanghai and found that close to half their customers were aged between 20 and 29, even though the average age of vegetarians was 65.

Sixthtone.Com, a youth news portal has reported that in November last year Hebei University of Environmental Engineering in the city of Qinhuangdao has added a vegetarian counter in the canteen at the request of a student organisation called the Lohas Vegetarian Society.

"Sure, it might not be front-page news, but by serving meat-free meals to college students, the college is embracing a heartening trend toward vegetarianism in a society where most square meals contain pork, chicken, or beef," the report said.

Stories like this have played out across more and more Chinese universities, driven by the recently established Universities and Colleges Vegetarian Association (UCVA).

This organisation for college vegetarians was founded at Beijing's Tsinghua University on World Earth Day last year.

"Alongside the rise of animal protectionism...More and more young Chinese are viewing vegetarianism as a healthy, eco-friendly, and trendy lifestyle," the Sixthtone report said.

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Agencies
May 30,2020

The GST Council is unlikely to make major changes in the indirect tax structure at its next meeting slated mid June.

A top government source said that the Centre is not in favour of increasing tax rates on any goods or service as it could further impact consumption and demand that is already suppressed due the COVID-19 pandemic and lockdown.

It was widely expected that the GST Council could consider raising tax rates and cess on certain non-essential items to boost revenue for states and the Centre. Several states have reportedly taken an over 80-90 per cent hit in GST collections in April, the official data for which has not yet been released by the Centre.

"The need of the hour is to boost consumption and improve demand. By categorising items into essential and non-essential and then raising taxes on non-essential is not what Centre favours. But, the issue on rates and relief will be decided by the GST Council that is meeting next month," the finance ministry official source quoted above said.

The GST Council is chaired by the Union finance minister and thus the views of the Centre play out strongly in the council meetings.

However, the Council will also have to balance the expectations of the states whose revenues have nosedived after the coronavirus outbreak and wide scale disruption to businesses while they have still not been paid GST compensation since the December-January period.

To the question of wider scale job losses in the period of lockdown as businesses get widely impacted, the official said that the Finance Ministry has asked the labour ministry to collect data on job losses during Covid-19 and is constantly engaging with the ministry to oversee job losses and salary cuts.

On restrictions put on Chinese investment in India, the official clarified that no decision had yet been taken to restrict China through the Foreign Portfolio Investment (FPI) route.

Asked about monetising government debt, the official said that the issue would be looked at when we reach a stage. It has not come to that stage yet.

In the government's over Rs 20 lakh crore economic package, the official defended its structure while suggesting that comparisons with the economic packages of other countries should not be drawn as India's needs were different from others.

"We have gone in more reforms that is needed to give strength to the economy. This is required more in our country," the official source said.

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Agencies
June 12,2020

Mumbai, Jun 12: Following an overwhelming response for the mega rights issue of Mukesh Ambani-owned Reliance Industries, the partly paid-up rights shares are set to debut on stock exchanges on June 15.

The biggest ever Rs 53,124 crore rights issue was subscribed 1.59 times and received bids worth Rs 84,000 crore on June 3.

Reliance said the rights issue saw a huge investor interest, including from lakhs of small investors and thousands of institutional investors, both Indian and foreign.

In 2019, Ambani said in the Reliance's annual general meeting that the company will be net zero debt by March 2021. The company is on course to achieve its target ahead of the deadline.

"In spite of the COVID-19 crisis and the lockdowns, the due-diligence by Saudi Aramco for the planned investment in the O2C business is on track as both the parties are committed and actively engaged," he said recently.

"With a strong visibility to these equity infusions, Reliance is set to achieve net zero debt status ahead of its own aggressive timeline. We believe rights issue was a part of the company's strategy of deleveraging its balance sheet," said Ambani. 

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Agencies
March 15,2020

Cybercriminals continue to exploit public fear of rising coronavirus cases through malware and phishing emails in the guise of content coming from the Centers for Disease Control and Prevention (CDC) in the US and World Health Organisation (WHO), says cybersecurity firm Kaspersky.

In the APAC region, Kaspersky has detected 93 coronavirus-related malware in Bangladesh, 53 in the Philippines, 40 in China, 23 in Vietnam, 22 in India and 20 in Malaysia. 

Single-digit detections were monitored in Singapore, Japan, Indonesia, Hong Kong, Myanmar, and Thailand. 

Along with the consistent increase of 2019 coronavirus cases comes the incessant techniques cybercriminals are using to prey on public panic amidst the global epidemic, the company said in a statement. 

Kaspersky also detected emails offering products such as masks, and then the topic became more commonly used in Nigerian spam emails. Researchers also found scam emails with phishing links and malicious attachments.

One of the latest spam campaigns mimics the World Health Organisation (WHO), showing how cybercriminals recognise and are capitalising on the important role WHO has in providing trustworthy information about the coronavirus.

"We would encourage companies to be particularly vigilant at this time, and ensure employees who are working at home exercise caution. 

"Businesses should communicate clearly with workers to ensure they are aware of the risks, and do everything they can to secure remote access for those self-isolating or working from home," commented David Emm, principal security researcher.

Some malicious files are spread via email. 

For example, an Excel file distributed via email under the guise of a list of coronavirus victims allegedly sent from the World Health Organisation (WHO) was, in fact, a Trojan-Downloader, which secretly downloads and installs another malicious file. 

This second file was a Trojan-Spy designed to gather various data, including passwords, from the infected device and send it to the attacker.

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