CiCM 22nd January 2024

NEWS IN CHINA

State Council's strategic measures spark optimism for robust growth: The CPC Central Committee and the State Council are actively focusing on the capital market's operation, emphasizing the importance of stabilizing and promoting its healthy development. Premier Li Qiang recently chaired a meeting of the State Council, stressing the need to enhance the basic system of the capital market, improve the balance of investment and financing, and boost the quality and investment value of listed companies. The emphasis is on strengthening market supervision with "zero tolerance" for violations to create a standardized and transparent environment. Furthermore, the meeting highlighted the importance of taking robust measures to stabilize the market and instill confidence, ensuring the consistency of macroeconomic policy orientation. Additionally, there's a call for research and deployment to promote artificial intelligence and enable new industrialization. The meeting recognizes the significant role of AI in improving industrial production accuracy and enhancing flexible and customized production capabilities. Lastly, the comprehensive revitalization of the countryside is emphasized as a key aspect of the "three agricultural" work in the new era. The meeting outlines goals to accelerate the modernization of agriculture and rural areas, prioritize rural development, and promote ecological civilization.
Pudong New Area unveils ambitious Comprehensive Reform Plan (2023-2027): The General Office of the CPC Central Committee and the General Office of the State Council recently issued the Pilot Implementation Plan for Comprehensive Reform in Pudong New Area (2023-2027), signifying a major strategic deployment by the Party Central Committee centered on Comrade Xi Jinping. The plan outlines several key decisions and objectives, emphasizing the importance of adhering to Xi Jinping Thought on Socialism with Chinese Characteristics and implementing the new development concept. One crucial aspect is the commitment to institutional innovation and high-level opening-up, with the aim of achieving breakthrough progress in institutional innovation and building a new high-level open economy by 2027. Notable decisions include increasing the opening-up of rules and standards, improving the global resource allocation function, and enhancing the mechanism of cross-border movement of goods and elements. Decisions involve promoting the integration and innovation of the basic research system, building an industrial development ecology, and deepening international cooperative innovation mechanisms. Furthermore, the plan emphasizes deepening people's city construction practice and exploring new roads for supercity governance. Noteworthy decisions involve creating a market-oriented, rule-of-law, and international first-class business environment, strengthening the government's own construction, and improving the basic system of fair competition.
President Xi Jinping Urges swift and comprehensive rescue efforts in wake of devastating Yunnan Landslide: A devastating landslide struck Yunnan province's Zhenxiong county, burying 18 houses and leaving 47 people missing in Liangshui village. President Xi Jinping has issued urgent instructions, calling for all-out efforts in the search and rescue mission. Although rescuers extracted eight individuals from the debris, unfortunately, all were found dead. Approximately 300,000 cubic meters of soil and rocks collapsed, posing a significant challenge to the rescue operation. With Spring Festival approaching and cold waves hitting the region, Xi emphasized the need for enhanced monitoring and early warning to prevent secondary disasters. Premier Li Qiang urged the prompt evacuation of residents in potential danger, especially in the cold alpine region. Vice-Premier Zhang Guoqing has led a work group to guide the rescue operation. The National Health Commission mobilized medical teams from neighboring provinces, and rescue efforts continue with 795 workers, 120 vehicles, and one drone. Tragically, seven confirmed fatalities and 40 missing individuals add to the urgency of the ongoing rescue mission.
National Bureau of Statistics reports 320 Million women employed in the country’s economy: China has made significant strides in promoting women's employment, with the National Bureau of Statistics reporting that 320 million women are currently employed, accounting for 43.2% of the total working population. This progress aligns closely with the State Council's 2021 guideline, which aims to maintain a 45% proportion of working women in the total workforce by 2030. To support women in the job market, local human resources departments have organized specialized job fairs, provided free services introducing employment policies, and conducted skills training sessions. Despite these efforts, challenges persist, including gender discrimination and concerns over work-life balance. Experts highlight the need for a long-term mechanism to ensure sustained and stable women's employment. They emphasize the importance of improving women's participation in sectors requiring higher knowledge or skills, fostering legal knowledge and gender equality awareness, and encouraging employers to create a more female-friendly working environment. Additionally, women are encouraged to enhance their abilities and performance to navigate challenges and secure equal opportunities in career advancement.
China unveils ambitious biodiversity conservation plan, targets 30% ecosystem restoration by 2030: China has unveiled a comprehensive strategy and action plan for biodiversity conservation from 2023 to 2030, emphasizing the restoration of at least 30 percent of the nation's degraded ecosystems by the end of this decade. The plan acknowledges the current challenges faced by China's ecosystems, species, and genetic diversity due to varying degrees of degradation and loss. Over 4,000 plant species and 1,050 vertebrate species, excluding fish, are under threat, according to the Redlist of China's Biodiversity. The action plan aims to strengthen biodiversity surveying and monitoring, improve ecological compensation mechanisms, and establish a system holding intruders accountable for damages to ecological spaces. By 2030, the plan envisions a long-term mechanism to encourage enterprises to protect and sustainably utilize biodiversity resources.
Shanghai tops China's monthly minimum wage list: Shanghai continues to lead as the city with the highest monthly minimum wage in China, standing at 2,690 yuan ($374), as announced by the Ministry of Human Resources and Social Security. Beijing secured the top spot for hourly minimum wages, recording 26.4 yuan in the previous year. Notably, 18 provincial-level regions surpassed the 2,000 yuan threshold for monthly minimum wages in 2023, with Shenzhen setting its monthly minimum salary at 2,360 yuan, surpassing the average standard in Guangdong Province. Several provinces, including Jiangsu, Zhejiang, and Liaoning, have declared increases in minimum wage standards for the current year, aiming to improve income levels for full-time workers. In Zhejiang, the minimum monthly wage was elevated to 2,490 yuan, with variations in different cities, effective from January 1, 2024. Liaoning Province is set to raise the minimum monthly wage for full-time workers to 2,100 yuan, with varying rates in different cities starting May 1, 2024.

SOCIAL MEDIA CHATTER IN CHINA

Chinese football fans ride emotional rollercoaster as Chinese National Team faces Qatar: As the highly anticipated football match between China and Qatar unfolded, Chinese fans were glued to their screens, anxiously watching the National Football team battle for a crucial victory. The pre-game excitement and anticipation were palpable across various social media platforms, with fans expressing their hopes and concerns. The national team's performance in the Asian Cup had been a rollercoaster ride, marked by a record of 0 goals, 2 draws, and 1 loss in the group stage. Despite the challenges, Chinese supporters remained optimistic, hoping for a positive outcome in the match against Qatar. The significance of the game was not lost on the fans, as a win would secure the team's second-place position in the group, while even a draw could potentially lead to advancement. As the clock ticked closer to the kickoff, social media was flooded with posts from fans discussing strategies, key players, and sharing memories from past encounters with Qatar. The stakes were high, and fans were acutely aware of the possible scenarios that could unfold based on the match's outcome. During the match, commentary flooded in, providing live updates and reactions. Whether it was discussing missed opportunities, praising standout players like Jiang Guangtai, or expressing frustration at the team's performance, fans engaged passionately in the online discourse. In the aftermath of the match, emotions ranged from disappointment to optimism. Some fans criticized specific players or the coaching staff, while others emphasized the need for improvements in youth training and the overall football infrastructure in China.

INDIA WATCH

The dynamics of women in the workforce in India reflect a complex interplay of social, economic, and cultural factors. India faces significant challenges, with less than 20% of women engaged in paid jobs and a declining trend in female workforce participation. The International Labour Organisation (ILO) reports a gender employability gap of 50.9% in India, indicating that only 19.2% of women are part of the labor force compared to 70.1% of men. Several factors contribute to the low rate of women's employment in India. Unpaid labor, particularly in household chores and caregiving, often goes unrecognized, leading to an underestimation of women's labor force participation. Women are disproportionately engaged in low-paying and exploitative jobs in the private sector, while the contraction of public sector jobs worsens gender disparities. Vulnerable employment conditions, such as involuntary part-time work and limited social protection, further hinder women's opportunities. The gender pay gap persists with biases in recruitment and pay across various sectors, including technology and senior management positions. Government measures, laws, and economic policies also contribute to the challenges faced by women in the workforce. Despite existing legislation, women's labor is undervalued, and weak job creation, faulty economic policies, and insufficient investment in key sectors exacerbate employment constraints. However, recent efforts by the Indian government indicate a commitment to addressing these issues. Initiatives focusing on girls' education, skill development, entrepreneurship, and workplace safety have contributed to a notable improvement in the Female Labour Force Participation Rate, reaching 37.0% in 2023. Policies such as Beti Bachao Beti Padhao, Mahila Shakti Kendra, and Pradhan Mantri Ujjwala Yojana aim to empower women and bridge the gender gap.To sustain and enhance progress, a comprehensive approach is needed. The private sector can play a crucial role by implementing policies such as paid paternity leave, flexible timings, and childcare facilities. Civil society organizations can provide support through capacity-building and upskilling programs for women. Philanthropic support can facilitate access to microfinancing and loans for women at the grassroots level, fostering economic empowerment.

Prepared By

Riddhima Singh

Riddhima Singh is a final year student at Jawaharlal Nehru University Delhi, pursuing Chinese Honours course. Through her degree she has had the opportunity to dive into culture, history and contemporary issues in Chinese society through language and research. Her research area surrounds the economic and fiscal policies of Communist Party of China and China's development model.