CiCM 15-16th Feburary 2025

NEWS IN CHINA

Foreign Minister Wang Yi at the Munich Security Conference: The 61st Munich Security Conference, which concluded on Sunday, was attended by Chinese Foreign Minister Wang Yi. Addressing the session titled “China and the World” he stated that China will remain a global stabilizing factor and a constructive power in the transformation of the world. The foreign minister held various meetings - German Foreign Minister Annalena Baerbock, Argentine Foreign Minister Gerardo Werthein, NATO Secretary General Mark Rutte and others. In his meeting with the Kaja Kallas, European Union's new foreign policy chief, he affirmed that China is ready to strengthen strategic communication with the EU and to work together to provide more stability to the world. He further added that "there is no fundamental conflict of interest or geopolitical conflicts between China and the EU," and that both parties must stick to practicing multilateralism and support the core status of the United Nations. Upon meeting the Austrian interim Chancellor and Foreign Minister Alexander Schallenberg, Wang Yi confirmed that China welcomes Austria to build upon the new opportunities brought by Beijing’s development, deepen mutually beneficial cooperation and strengthen advance China-Austria relations. Wang Yi also indicated China’s resolve to push Sino-Argentina bilateral ties to a new level and to implement the consensus reached by the two heads of state - strengthen high-level exchanges and exchanges in various fields, push bilateral relations to a new level and bring more benefits to the two peoples – said Wang. Foreign minister Wang Yi also delivered his keynote speech on the topic "A Steadfast Constructive Force in a Changing World," where he spoke about multipolarity in today’s world and reiterated China’s resolve to strengthen the equal multipolar order.
Chinese AI model, Deep Seek catalyses a buying spree of Chinese equities: The Chinese pioneered artificial intelligence (AI) model beyond stunning the tech world has demonstrated China’s innovation strength has triggered a buying spree among hedge funds and global financial institutions. The Hang Seng Tech index has risen more than 30 percent in the past month coupled with China’s onshore and offshore equity markets seeing an addition of more than $1.3 trillion in total value, according to a Bloomberg report. The report further stated that hedge funds have been "piling into Chinese equities at the fastest pace in months," while in contrast other markets like India, are suffering an exodus of cash with their market valuation shrinking. The United States-based Goldman Sachs forecasted potential gains of fourteen percent year on year for the MSCI China index by the year’s end. JP Morgan strategists noted that fund flows into Chinese internet names have been positive this year with a reported increase following the Deep Seek intervention. A significant amount of foreign financial institutions and equity funds have issued upbeat calls on Chinese equities since late January. The increased stock market momentum highlights how the recent AI-driven development has been catalyst for global capitalists to reaffirm Chinese assets which have been undervalued for the past couple of years.
China unveils the world’s first FPSO oil production vessel with carbon capture facilities: China has completed, in Shanghai, the first innovative floating, production, storage and offloading (FPSO) vessel which is also equipped with a carbon storage and capture system. The vessel, the first of its kind in the world, measures up to  333 meters in length and 60 meters in width and has a daily production capacity of up to 120,000 barrels of crude oil. The vessel has the unique ability to capture carbon dioxide emitted during both navigation and oil production processes. Further, it utilizes the heat energy from exhaust gases to curate electricity, completing two objectives energy efficiency and environmental protection. The unit is developed by the state owned Cosco Ocean Shipping Heavy Industry Company. State broadcaster CCTV reported that the technology  “marks an important step for China in the field of offshore carbon capture.” China the world’s largest emitter has also made it a priority to target technologies as it tries to hit its goal of hitting peak carbon emissions by 2030 and net zero by 2060.
China’s pet economy surges: The number of pets in China has surpassed the number of children under the age of four for the first time in 2024, a Goldman Sachs report confirmed. It further projected that by 2030 the number will nearly double. China, being home to 73.4 million infants and toddlers has diminished in recent years since 2021 due to the decline in the birth rate. The 2025 China Pet Industry White Paper indicated that the pet population in urban areas alone has reached 120 million in 2024, with the urban pet–dog and cat- cat-consumption market exceeding 300 billion yuan. The data by China’s Ministry of Housing and Urban-Rural Development showed that China had an urban population of around 930 million in 2023. This indicates that one out of every eight urban residents own a pet, on average, given the fact that China, the world’s second-largest economy is also home to an explosive pet consumption market. China is now embracing the pet economy 3.0, where pets have achieved an elevated status supported by a niche market catering to the diversified, pet-oriented consumption needs. The current pet industry chain can be categorized into three segments. The upstream segment, primarily covering breeding and trading, and the midstream segment which includes products like pet food, supplies and toys. The downstream segment is service-driven, including pet grooming, boarding and medical care, which is not witnessing remarkable growth.
Beijing renews rules for online trading, bans deleting and blocking consumer’s comments: The Beijing market watchdog has recently released guidelines to ban fabricating, deleting, modifying or blocking consumer’s comments to better protect their interests and legitimacy on online trading platforms. The Beijing Daily reported that in order to guide online trading platforms to pursue their responsibilities of management and protect the rights and interests of small and micro-business operators and consumers on platforms certain guidelines have been released by the Beijing Municipal Administration for Market Regulation. In a bid to protect consumers’ feedback on services and products provided on online platforms, the guidelines now also strictly disallow the displaying of information in a misleading manner, for example placing negative comments below positive reviews. The guidelines further prohibit the online trade operators from coercing or indirectly pressuring consumers to agree to the collection of sensitive information that is not directly linked to purchasing of the product, further adding that separate consumer consent must be obtained when collecting user-sensitive information like medical or biometric information. Virtual live streamers’ virtual avatars used to market products must be strictly labelled. Further, automatic renewal without customer recognition must not be carried out and online business operators must remind consumers before automatic service extension.

SOCIAL MEDIA CHATTER

Love, Age, and Social Media- A Twin Engagement Sparks Cultural Reflections in Hunan: An engagement ceremony in Hunan province has taken the Chinese social media world by storm, drawing millions of views and sparking widespread discussion. The event featured a pair of twin sisters and twin brothers, who held their engagement on the same day, all while wearing matching outfits. This highly unusual union has captivated over four million users on Douyin and ignited an outpouring of reactions from the public. While their engagement ceremony holds no legal significance, as women in China must be at least 20 years old to legally marry, the public response has been far from typical. Social media platforms have exploded with a mix of reactions. On one hand, many users have expressed awe and fascination. On the other hand, some have raised questions about the depth of love at such a young age, reflecting broader cultural concerns about marriage and maturity in Chinese society. This viral moment speaks to a deeper cultural curiosity surrounding relationships in China, where traditional views on marriage and age often collide with modern, social media-driven narratives. It has prompted broader reflection on love, commitment, and the role of social media in shaping personal milestones. While the engagement has sparked both admiration and humor, it has undeniably captured the imagination of millions.

INDIA WATCH

News sources in China report that the stampede death toll in India has risen to 18: Chinese news outlets have reported that the death toll from the stampede at New Delhi's railway station has risen to 18, with 10 women, four children, and four men confirmed among the victims, a government official reported on Sunday. The tragedy occurred late Saturday night as passengers gathered to board a special train heading to Prayagraj in Uttar Pradesh for the Maha Kumbh festival. Around two dozen people were injured in the incident, many suffering from orthopaedic injuries, though most are stable. The author states that the chaos unfolded when a large crowd, far exceeding the station's capacity, surged towards a platform after confusion over the train’s arrival. In the scramble, passengers fell over one another, leading to the stampede. Dr. Ritu Saxena, deputy medical superintendent at Lok Nayak Hospital, confirmed that 15 people had been pronounced dead at the hospital, with most likely causes of death attributed to hypoxia or blunt trauma, though autopsies are still pending. Indian Railways officials confirmed that the crowd had overwhelmed the station's facilities, exacerbating the situation. In response, Railway Minister Ashwini Vaishnaw ordered a "high-level inquiry" to investigate the incident's causes. Opposition parties have criticized the government's handling of the Maha Kumbh travel arrangements, accusing officials of attempting to downplay the severity of the stampede for hours. Prime Minister Narendra Modi expressed his condolences, stating, "My thoughts are with all those who have lost their loved ones. I pray for the speedy recovery of the injured."

Prepared By

Riddhi Deokar

Riddhi Deokar is a Second-year bachelor’s student pursuing Global Affairs with a minor in Public Policy at OP Jindal Global University. She exudes a strong interest in learning and researching about Northeast Asian and Middle Eastern dynamics, specifically learning about China’s equation with the two regions. She endeavours to contribute to solutions addressing gender issues in the political realm. She pursues her linguistic aspirations, learning French and Mandarin. She is also a TEDx speaker, spreading her message about the theory of 'Relative Happiness'. Understanding varied perspectives and keeping an open mind while analysing and researching global issues is an effort she keeps making.