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NEWS IN CHINA

• China Highlights Economic Resilience, Innovation in Government Work Report: Premier Li Qiang delivered the Government Work Report at the opening of the Fourth Session of the National People's Congress. The report stated that China’s economy remained stable despite external pressures, with GDP growing 5 percent last year to reach 140.19 trillion yuan. Employment remained steady, with 12.67 million new urban jobs created and the surveyed unemployment rate averaging 5.2 percent. Grain output reached 1.43 trillion jin (665 million tons), and foreign trade expanded with increasing export diversification. Advances were reported in areas such as artificial intelligence, robotics, biomedicine and quantum technology, alongside breakthroughs in domestically developed chips. High-tech and equipment manufacturing value-added rose 9.4 percent and 9.2 percent, respectively and new energy vehicle production exceeded 16 million units. The report also outlined 20 key indicators tied to the proposed 15th Five-Year Plan framework, covering economic growth, innovation, public welfare, green development and security, including a target of 4.5 - 5% for GDP growth and over 7 percent annual growth in R&D spending.
  
  
• CPPCC Opens Annual Session with Work Report: Wang Huning, chairman of the Chinese People’s Political Consultative Conference (CPPCC) National Committee, delivered a work report on the advisory body’s work last year and future plans, as the annual session of China’s top political advisory began on Wednesday. Wang noted that the CPPCC received 5,992 proposals in 2025 relating to the work report, with 5,061 formally filed and a 99.9 percent response rate. These proposals led to 1,057 instructions from central leaders and 201 feedback reports from local governments. He noted that over the past year, the CPPCC organized two special consultative meetings, 18 expert consultations, 19 proposal-handling sessions, and four macroeconomic symposiums to strengthen policy input. On international engagement, the CPPCC coordinated 210 exchange events involving 1,781 participants from 129 countries and organizations. Diplomatic envoys from Europe and young diplomats from Singapore were among 168 guests invited to visit the CPPCC. Looking ahead to 2026, Wang emphasized that the CPPCC will mobilize political parties, organizations, and social groups to build consensus and provide policy recommendations on economic growth, innovation, reform, social development, and public well-being, ensuring public opinion is reflected in decision-making.
  
  
• Wang Yi Holds Call With Saudi FM: Wang Yi held a telephonic conversation with Saudi Foreign Minister Faisal bin Farhan Al Saud, discussing the situation in the Middle East. Faisal outlined Saudi Arabia’s assessment of regional developments, stressing that Riyadh does not want the Middle East to slide into war but is deeply concerned about the conflict’s widening scope and escalating risks. He stated that Saudi Arabia has exercised restraint while maintaining its right to self-defense, and hopes all parties can work toward de-escalation. Faisal welcomed China’s consistent emphasis on regional security and stability, expressing Saudi Arabia’s willingness to strengthen coordination with China to help restore peace. Wang noted that China does not wish to see further escalation. He stressed that the indiscriminate use of force is unacceptable and that attacks on civilians and non-military targets must be condemned. He praised Saudi Arabia’s restraint and support for peaceful solutions. He also reaffirmed that China will continue to act as a force for peace, including sending a special envoy to promote dialogue, urging all sides to halt military operations and return to negotiations to prevent further instability.
  
  
• Manufacturing Activity Slows in February: China’s manufacturing purchasing managers’ index (PMI) declined to 49.0 percent in February, marking a 0.3 percentage point drop from January, according to data released by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing. Huo Lihui, chief statistician at the Service Industry Survey Center of the NBS, stated that the decline was largely influenced by the Spring Festival holiday. He added that this year’s extended holiday fell entirely in mid-to-late February, disrupting production schedules and slowing down overall manufacturing activity. The production index and new orders index fell to 49.6 percent and 48.6 percent, respectively, pointing to weaker output and market demand. However, sectors such as agricultural food processing and computer and electronic equipment continued to expand, while textiles, apparel and automobiles face sluggish conditions. Large enterprises outperformed smaller firms, with their PMI rising to 51.5 percent, while medium and small enterprises saw sharper declines. High-tech manufacturing remained a bright spot, posting a PMI of 51.5 percent.
  
  
• Veteran Chinese Leader Song Ping Dies at 109: Song Ping, a member of the Communist Party of China, a proletarian revolutionary and statesman, and former member of the Standing Committee of the Political Bureau of the 13th CPC Central Committee, and former State Councilor, died in Beijing at the age of 109. He passed away at 3:36 p.m. on March 4 due to an illness. Born in April 1917 in Shandong province, Song joined the Communist Party in 1937 and began his political career during China’s revolutionary era. In the late 1930s and early 1940s, he worked closely with Premier Zhou Enlai as a political secretary in Chongqing. Song also served as Communist Party chief of Gansu and headed the powerful Central Organisation Department, where he helped promote future leaders such as Hu Jintao and Wen Jiabao. He reached the peak of his career in 1989 when he joined the Politburo Standing Committee following a leadership reshuffle after the Tiananmen Square protests. Song retired in 1992 at the age of 75 but remained an influential party leader.
  
  

SOCIAL MEDIA CHATTER

Proposal to Cap Bride Price at 60,000 Yuan Spark Discussion on Weibo: A post with the hashtag #Recommended That Bride Price Not Exceed 60,000 Yuan# is going viral on Weibo after NPC deputy Li Yanfeng proposed setting an upper limit on bride prices and offering employment and entrepreneurship incentives to families that choose lower bride prices. The proposal echoes the latest Central Document No.1, which calls for continued efforts to curb excessive bride prices and promote more “moderate, civilized wedding customs”. Online reactions have been lively and divided. One user commented that “the real problem isn’t the bride price, but the lack of support for women in childbirth and child-rearing,” adding that "stronger protections would naturally reduce disputes over money". Another user suggested linking the “bride price to three years of a woman’s average income” to reflect career disruption caused by childbirth. Some users questioned whether price caps could work at all, commenting that “lowering bride prices without guaranteeing women’s post-marriage security would fail to address deeper concerns”. A few other users emphasized that marriage expenses, whether bride price or dowry, should belong to the couple themselves, not their families. A more skeptical comment cautioned that “without clear rules on consent and fairness, regulation alone may have a limited impact”.

INDIA WATCH

Sina Article Discusses Oil Price Pressure on Indian Rupee: An article in Finance Sina analyzed the sharp weakening of the Indian rupee and the sell-off in government bonds, attributing the market stress to rising global oil prices amid escalating tensions in the Middle East. According to the report, the Indian rupee declined by as much as 0.7 percent on Wednesday, falling to a record low of 92.0875 against the US dollar, marking its largest single-day decline since late January. Meanwhile, yields on India’s benchmark 10-year government bond rose by five basis points to 6.72 percent, signaling growing concerns over inflation and fiscal pressure. The article emphasized that higher oil prices are particularly damaging for India, which imports nearly all of its energy needs. It stated that costlier crude is likely to push up domestic inflation while also widening the trade deficit, both of which tend to weigh heavily on the currency. Quoting an ANZ FX strategist, the article stated that markets expect the Reserve Bank of India to increase its intervention in foreign exchange markets to smooth volatility. However, the strategist cautioned that if oil prices remain elevated, policymakers may have to accept further depreciation of the rupee. The article noted that projections of the rupee weakening toward 93 per dollar by year-end could materialize sooner than expected.

Prepared By

Neha Maurya

Neha Maurya is a fourth-year undergraduate student at FLAME University, pursuing a major in International Studies with a minor in Public Policy. Her research interests lie in strategic studies, governance, and education policy. She aspires to engage in work that links research insights to policy outcomes.