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Macro

June 28, 2023

Love China, wherever you are

Chinese legislators are reviewing a new law to promote patriotism – at home and abroad. On Monday, a draft Patriotic Education Law was submitted to the legislature (NPCSC) standing for review. The draft law aims to integrate patriotic education into (NPC 1): School curriculums at all levels School … Username Password Remember Me … Read More »

Chinese legislators are reviewing a new law to promote patriotism – at home and abroad.
On Monday, a draft Patriotic Education Law was submitted to the legislature (NPCSC) standing for review.
The draft law aims to integrate patriotic education into (NPC 1):

School curriculums at all levels
School ...

sources

NPC: 爱国主义教育法草案首次审议：将爱国主义教育纳入国民教育体系

NPC: 爱国主义教育法草案首次提请审议：以法治方式推动和保障新时代爱国主义教育

Global Times: HK to greatly support, align with proposed patriotic education law: chief executive

June 28, 2023

Massaging the books

Local governments are getting creative in how they manage their books. On Monday, Hou Kai, auditor-general of the state auditor (NAO), disclosed the results of a recent investigation into local government finances. The audit covered an undisclosed number of provincial, municipal, and county-level g…

Local governments are getting creative in how they manage their books.
On Monday, Hou Kai, auditor-general of the state auditor (NAO), disclosed the results of a recent investigation into local government finances.

The audit covered an undisclosed number of provincial, municipal, and county-level g...

sources

NAO: 国务院关于2022年度中央预算执行和其他财政收支的审计工作报告

June 28, 2023

No surprises

The dominant grid operator will prioritize preventing power shortages over decarbonizing. The head of State Grid – managing over 80% of the power grid – confirmed the strategy at the World Economic Forum on Tuesday. No surprises there: Ever since fall 2021’s national power crisis, Beijing has been…

The dominant grid operator will prioritize preventing power shortages over decarbonizing.

The head of State Grid – managing over 80% of the power grid – confirmed the strategy at the World Economic Forum on Tuesday.

No surprises there: Ever since fall 2021's national power crisis, Beijing has been...

sources

Bloomberg: China’s State Grid Focused on Ensuring Supply Over Green Goals

June 28, 2023

If Wu have nothing nice to say

Internet platforms are increasingly edgy about perceived criticism of Beijing’s economic policies. On Monday, Weibo placed an indefinite ban on influential finance and econ blogger Wu Xiaobo, citing Wu’s dissemination of “negative and harmful” information. With over 4.7 million Weibo followers, Wu …

Internet platforms are increasingly edgy about perceived criticism of Beijing’s economic policies.
On Monday, Weibo placed an indefinite ban on influential finance and econ blogger Wu Xiaobo, citing Wu’s dissemination of “negative and harmful” information.

With over 4.7 million Weibo followers, Wu ...

sources

Xiaohongshu: 谁在提供就业，就支持谁

National Business Daily: 财经作家、大V吴晓波被禁言

June 28, 2023

Nothing to worry about

Don’t worry that China won’t hit its 2023 growth target. That’s what Premier Li Qiang told the World Economic Forum in Tianjin on Tuesday. Some context: The economy has underperformed this year, giving rise to worries that it might not achieve the official growth target of “around 5%.” Li said growt…

Don't worry that China won't hit its 2023 growth target.
That’s what Premier Li Qiang told the World Economic Forum in Tianjin on Tuesday.
Some context: The economy has underperformed this year, giving rise to worries that it might not achieve the official growth target of “around 5%.”
Li said growt...

sources

China Daily: Full text of Li Qiang's address at the opening plenary of the Annual Meeting of the New Champions 2023

June 28, 2023

A calculated risk

“De-risking” decisions should be left to companies, not governments. That was the message Premier Li Qiang delivered to the World Economic Forum in Tianjin on Tuesday. He said much the same in Germany last week. Li said: “If there is risk in a certain industry, it’s not up to the government to sa…

"De-risking" decisions should be left to companies, not governments.
That was the message Premier Li Qiang delivered to the World Economic Forum in Tianjin on Tuesday.

He said much the same in Germany last week.

Li said:

“If there is risk in a certain industry, it’s not up to the government to sa...

sources

weforum.org: Opening Plenary with Li Qiang

June 28, 2023

Where the AI train is going

On Monday, Zhuang Rongwen – director of China’s cyberspace watchdog (CAC) – delivered a keynote speech to attendees at the Nishan Dialogue on Digital Civilization. The topic: The safe and sustainable development of AI. Zhuang’s speech dropped a few hints in terms of the direction policymakers will…

On Monday, Zhuang Rongwen - director of China's cyberspace watchdog (CAC) - delivered a keynote speech to attendees at the Nishan Dialogue on Digital Civilization.
The topic: The safe and sustainable development of AI.
Zhuang's speech dropped a few hints in terms of the direction policymakers will...

sources

CAC: 世界互联网大会数字文明尼山对话在山东曲阜开幕

June 28, 2023

Getting in the (free trade) zone

China’s Free Trade Zones will continue to be hotbeds of tech policy experimentation. On Sunday, the Ministry of Commerce (MofCom) released a list of key priorities for each of China’s 21 FTZs to tackle over the next two years. Some context: 2023 is the 10th anniversary of China’s FTZ pilot program….

China's Free Trade Zones will continue to be hotbeds of tech policy experimentation.
On Sunday, the Ministry of Commerce (MofCom) released a list of key priorities for each of China’s 21 FTZs to tackle over the next two years.
Some context: 2023 is the 10th anniversary of China’s FTZ pilot program....

sources

MofCom: 商务部关于印发《自贸试验区重点工作清单（2023—2025年）》的通知

MofCom: 商务部印发《自贸试验区重点工作清单（2023—2025年）》

June 28, 2023

MIIT plays footsie with MediaTek

On Tuesday, China’s Vice Minister of Industry and Information Technology Wang Jiangping met with Cai Mingjie, Chairman of Taiwanese semiconductor giant MediaTek. The two chatted about chips and 5G. Some context: MediaTek is the world’s fourth largest fabless semiconductor firm and a global leader…

On Tuesday, China's Vice Minister of Industry and Information Technology Wang Jiangping met with Cai Mingjie, Chairman of Taiwanese semiconductor giant MediaTek.

The two chatted about chips and 5G.

Some context: MediaTek is the world's fourth largest fabless semiconductor firm and a global leader...

sources

MIIT: 王江平会见联发科技董事长蔡明介

ijiwei: 市场需求低迷传高通、联发科削减投片量，降低芯片价格

SCMP: Chinese smartphone maker Oppo abruptly closes chip design unit Zeku, another casualty in semiconductor sufficiency drive

June 28, 2023

This is what industrial upgrading looks like

China’s vision to develop smart connected factories just took another small step forward. On Wednesday, the Ministry of Industry and Information Technology (MIIT) released a one-year work plan for industrial internet development. The plan outlines how MIIT will drive forward digital upgrading acros…

China's vision to develop smart connected factories just took another small step forward.
On Wednesday, the Ministry of Industry and Information Technology (MIIT) released a one-year work plan for industrial internet development.

The plan outlines how MIIT will drive forward digital upgrading acros...

sources

MIIT: 关于印发《工业互联网专项工作组2023年工作计划》的通知

June 27, 2023

Zam, bam, thank you ma’am

Premier Li Qiang just killed two birds with one stone. On Friday, Li attended the Summit for a New Global Financing Pact in Paris. Some context: The summit is the brainchild of French President Emmanuel Macron. It aims to recalibrate the financial relationship between developed and developing countr…

Premier Li Qiang just killed two birds with one stone.
On Friday, Li attended the Summit for a New Global Financing Pact in Paris.
Some context: The summit is the brainchild of French President Emmanuel Macron. It aims to recalibrate the financial relationship between developed and developing countr...

sources

MoFA: 李强出席新全球融资契约峰会并发表讲话

MoFA: Li Qiang Attends and Addresses the Summit for a New Global Financing Pact

Politico: Western leaders snub Macron’s Paris summit on global finance

FT: Zambia agrees ‘milestone’ debt relief plan with China and other creditors

June 27, 2023

Linked by the Red River, divided by the sea

On Monday, Premier Li Qiang told his Vietnamese counterpart their countries should do (even) more together. Some context: The US-China rivalry is pushing Beijing and Washington to intensify diplomacy with Hanoi. General Secretary Nguyễn Phú Trọng was the first foreign leader Xi Jinping met on start…

General Secretary Nguyễn Phú Trọng was the first foreign leader Xi Jinping met on start...

sources

Xinhua: 李强同越南总理范明政会谈

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