CiCM 15th June 2023

NEWS IN CHINA

Siemens AG's Chairman of the Board, President and CEO Roland Busch, announced increased investment in China at the Siemens Digital Economy Forum. The company will invest 1.1 billion yuan in the Siemens Industrial Automation Products China Intelligent Manufacturing Base in Chengdu and for the establishment of Siemens Digital Technology (Shenzhen) Co., Ltd. He also launched "Siemens Xcelerator Open”. China’s manufacturing sector is undergoing rapid digital transformation, creating opportunities for Siemens due to the increasing adoption of digital technology. Dr. Xiao Song, President and CEO of Siemens Greater China, highlighted the importance of platforms for large-scale digital transformation and the launch of Siemens Xcelerator. He expressed that prominent multinational company leaders like Roland Busch’s visits to China reflect the country's appeal as a destination for foreign investment. Recent data from the Ministry of Commerce show a positive trend in foreign capital utilization and the establishment of foreign-invested enterprises, confirming China's attractiveness as an open market for foreign investors.
The symposium conducted by the Shanghai Consumer Protection Committee highlighted the potential environmental impact of household cosmetics, emphasizing their contribution to greenhouse gas emissions. As fast-moving consumer goods with high frequency and prices, cosmetics require substantial raw materials and energy during production. To address this issue, the Shanghai Consumer Protection Committee and the "Double Carbon" Laboratory of the Shanghai Light Industry Research Institute released a report on the green consumption of cosmetics. The report advocates for a low-carbon approach in the cosmetics industry, recommending the establishment of a low-carbon alliance, the adoption of stricter corporate standards or active participation in the standardization of cosmetics "double carbon". It also calls for industry associations to provide technical support for carbon assessment and emissions reduction. These efforts align with the new responsibilities outlined in the Shanghai Consumer Protection Regulations, demonstrating a commitment to green and low-carbon practices in the industry.
During a press conference held by the State Council Information Office on 15th June, Fu Linghui, the spokesperson of the National Bureau of Statistics, addressed questions regarding the decline in the producer price index (PPI) and its implications for the industrial economy in China. In response to a question posed by a reporter from The Paper on the decline in industrial profits and continued decline in industrial producer prices, Fu Linghui stated that although the ex-factory prices of industrial producers have declined this year, the overall industrial operation has remained stable. He highlighted that industrial production showed signs of recovery in May, with a year-on-year increase of 3.5% in the value added by industrial enterprises. Notably, the equipment manufacturing industry exhibited significant growth, contributing over 70% to the overall growth of industries above the designated size. While acknowledging pressure on industrial production due to the global economic downturn, hindered exports, and insufficient domestic demand, Fu Linghui expressed confidence in the future development of the industry, citing the implementation of innovation-driven strategies and support for manufacturing industries as key drivers for sustainable and healthy growth.
At the press conference conducted by the Ministry of Natural Resources, the National Mineral Resource Reserves Statistics revealed that China had identified 163 mineral resource reserves, with nearly 40% of the reserves experiencing an increase. In the oil and gas sector, technically recoverable reserves for 2022 showed varying growth rates: oil increased by 3.2% year-on-year, natural gas increased by 3.6%, shale gas increased by 3.0%, and coal bed methane remained stable compared to the previous year. In non-oil and gas minerals, strategic emerging minerals like lithium, cobalt, and nickel saw significant increases of 57%, 14.5%, and 3%, respectively. Bulk minerals such as copper, lead, and zinc also experienced year-on-year increases of 16.7%, 7.1%, and 4.2%, respectively. China's lithium ore reserves (lithium oxide) witnessed a substantial 57% year-on-year growth. Jiangxi surpassed Qinghai and Sichuan to become the leading province, accounting for 40% of the national total. The national increase in lithium reserves in 2022 primarily originated from two lithium mines in Yinchun City, Jiangxi Province, contributing to 94.5% of the overall growth.
China's development of large language models (LLMs) was the primary highlight of the 2023 Zhongguancun Forum, where a generalist LLM that uses visual cues to perform arbitrary segmentation tasks received much attention. As reported by China Daily, “the Beijing Academy of Artificial Intelligence (BAAI), exemplifies China's commitment to seizing the opportunities brought about by LLM development.” China's LLM technology has made significant progress in recent years, with applications expanding beyond the corporate workplace and entertainment sectors to healthcare, industry, and education. A report by the Institute of Scientific and Technical Information of China (ISTIC) revealed that several provincial-level regions, particularly Beijing and Guangdong Province, are actively developing LLMs. With the ChatGPT leading global AI LLM development, China aims to pool AI innovation resources for algorithm and technology research. Beijing plans to reach a 300 billion yuan core industry scale for AI by 2025.

SOCIAL MEDIA CHATTER IN CHINA

Mouthwatering Graduation Ceremony Sets Chinese Social Media Buzzing: As graduation season arrives, many Chinese universities are trying to bid their students goodbye with an impressive ceremony. On June 15th, Wednesday, Hunan Agricultural University took the celebration to a new level — literally. In a twist that left mouths watering, the School of Food Science and Technology treated the 2023 graduates to a lavish feast with 12 tantalizing main dishes and three delectable desserts. The faculty and students came together to prepare this culinary extravaganza, even crafting a special cake adorned with heartfelt wishes for the graduates' future success. What's more, each dish had a clever name, showcasing the artistry and playfulness behind the menu. Some of the names included: "Rising to New Heights" (preserved meat on top of pickled mustard greens), "Radiant Light" (stir-fried shrimp in lotus leaf), "Round and Full" (steamed sticky rice meatballs) etc. The event sparked a frenzy on social media, with graduates expressing their excitement and other Weibo users voicing their envy, saying, "I'm so jealous," and "May I bring a bowl?" to this mouthwatering celebration.

INDIA WATCH

China's advancements in large language models (LLMs) showcased at the 2023 Zhongguancun Forum highlight its commitment to capitalise on LLM development. It also has much significance in India’s policy formulation about its own information technology sector. The Chinese state has made significant progress in the AI industrial space. China aims to leverage ChatGPT's leadership in global AI LLM development, pooling resources for algorithm and technology research. Beijing has ambitious plans to achieve a 500 billion Yuan AI industry scale by 2025. Meanwhile, India needs to prioritise its own investment in AI research and development. Many of India’s industries are technologically obsolete and dependent on imported technologies. Presently, India significantly lags behind in the level of AI development, and it needs to embark on a rapid AI R&D programme if it wishes to catch up with the level of digital information technology development in China. Therefore, the Indian government has formulated a comprehensive National AI Strategy aimed at harnessing the potential of AI across various sectors. The strategy focuses on fostering indigenous R&D, technology-related modernisation, capacity building, promoting startups, and leveraging AI for social development. In order to make itself at par with the international developments in the AI industrial space, India has further undertaken initiatives like the National Programme on AI, Atal Tinkering Labs in schools, and the Startup India program that encourages the growth of AI startups. India is also exploring partnerships with countries like United States, Canada, and Israel to enhance AI capabilities. Therefore, India's AI policy, while settiing a strong foundation, further efforts are being taken to address evolving challenges such as data governance, privacy concerns, and the need for comprehensive legal frameworks to ensure responsible and equitable AI deployment.

Prepared By

Ramyani Kundu

Ramyani Kundu is an Undergraduate student from Shiv Nadar IoE, pursuing a B.A.(Research) English with a Minor in International Relations. Her research interests include understanding the role of narratives in geopolitical relations and foreign policy's of nation-states. She further posits interest in South/East Asian literature and Continental philosophy