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
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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News Network
March 13,2020

Bengaluru, Mar 13: In the wake of fresh cases of Covid-19 reported in Karnataka, Infosys Foundation chairperson Sudha Murty has urged the Karnataka government to take steps to shut malls and theatres, saying the coronavirus multiplies in air-conditioned areas.

In a letter to the government, she said preventive measures should be taken to control the spread of coronovirus before it gets worse.

Murty, who also leads the State government-constituted Karnataka Tourism Task Force, said she has discussed the current situation with Chairman and Executive Director of Narayana Health, Devi Prasad Shetty.

She suggested closure of all schools and colleges with immediate effect, malls, theatres and “all air-conditioned areas where the virus multiplies”, and allow only essential services like pharmacy, grocery and petrol bunks.

“It is not scientifically proven that the virus dies in high temperature,” she said pointing to spread of the virus -- despite heat -- in peak summer in Australia and Singapore, which have “summer all 12 months”.

“I request you to vacate one government hospital with at least 500 - 700 beds for this purpose (to deal with coronavirus cases), which requires oxygen lines and pipes,” she said.

“Infosys Foundation, the philanthropic and CSR arm of software major Infosys, would do the civil work and Devi Shetty has agreed to share resources like medical equipment,” she added.

“We would like to work with the government proactively so that we can prevent this as early as possible,” Sudha Murty said.

The total number of confirmed coronavirus positive cases in Karnataka is five, including the 76-year old man from Kalaburagi who died on Tuesday night.

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Agencies
June 9,2020

Soon, you may be able to withdraw cash from an ATM without touching any part of the machine. AGS Transact Technologies, a provider of cash and digital payment solutions and automation technology, on Monday said it has successfully developed and tested a touchless ATM solution in light of the COVID-19 pandemic.

The ‘contactless' solution, currently under demo at interested banks, enables a customer to perform all the steps required to withdraw cash from an ATM using the mobile app itself. 

The customer simply has to scan the QR code displayed on the ATM screen and follow the directions on their respective bank's mobile application. 

This includes entering the amount and mPIN required to dispense the cash from the ATM machine. 

According to the company, the QR code feature makes cash withdrawals quicker and more secure, and negates the chances of compromising the ATM Pin or card skimming.

"The new Touchless ATM solution is an extension of the flagship QR Cash solution which ensures safety of the users and will provide a seamless cash withdrawal experience with enhanced security," said Ravi B. Goyal, Chairman and MD, AGS Transact Technologies Ltd.

With minimum investment, the banks can enable this solution for their ATM networks by upgrading the existing software.

AGSTTL has so far installed, maintained and managed a network of over 72,000 ATMs across the country and also provides customised solutions to leading banks. 

The company earlier introduced UPI-QR based Cash withdrawal solution in partnership with Bank of India. 

This is how the solution works.

Open the Bank mobile application on your smartphone and select QR Cash Withdrawal. Enter the amount you wish to withdraw on the mobile app and scan the QR code on the ATM screen.

Next, confirm the amount by clicking on ‘proceed' in the app and enter the mPin to authenticate the transaction. Now collect the cash and receipt and you are done.

"The seamless, cardless and touchless withdrawal method is designed to provide easy transaction flow, without the need to touch the ATM screen or enter the pin," said Mahesh Patel, President and Group Chief Technology Officer, AGS Transact Technologies.

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