CiCM 13th February 2024

NEWS IN CHINA

China's urban and rural travel surged in 2023: In 2023, China experienced a significant surge in domestic travel, with a total of 4.89 billion trips recorded, marking a 93 percent increase from the previous year. Urban residents contributed 3.75 billion trips, up by 95 percent, while rural residents made 1.13 billion trips, a nearly 90 percent increase. The total expenditure of domestic tourists reached 4.91 trillion yuan ($683 billion), growing by 140 percent year-on-year. Urban residents accounted for 4.18 trillion yuan of this spending, almost 150 percent higher than the previous year, while rural residents spent 0.74 trillion yuan, a 106 percent increase from the previous year. These statistics, released by the Ministry of Culture and Tourism, highlight the significant growth and impact of domestic tourism in China during 2023.

Beijing to Host 2029 World Aquatics Championships: Beijing will be hosting the World Aquatics Championships in 2029, as confirmed by World Aquatics on Sunday. This decision was praised by World Aquatics President Husain Al Musallam, who was appreciative of Beijing's track record of providing excellent conditions for athletes. The city will also host the 2029 World Aquatics Masters Championships, with specific dates to be announced later. Beijing has a history of hosting top-notch aquatics events and is considered a hub for aquatic sports. Chinese Swimming Association President Zhou Jihong expressed China's enthusiasm for aquatic sports and its pride in welcoming the world's best athletes. Looking ahead, Singapore will host the 2025 edition, followed by Budapest in 2027, after the ongoing tournament in Doha.

Data from People's Bank of China reveals a surge in China's household consumption loans in 2023: Data recently published by the People's Bank of China revealed that by the end of 2023, household consumption loans (excluding personal housing loans) in China reached 19.77 trillion yuan, showing a 9.4 percent increase compared to the previous year. This growth rate was 4.7 percentage points higher than the previous year's end. The statistical report also indicates that household loans surged by 4.33 trillion yuan in 2023, with household consumption loans rising by 1.75 trillion yuan, marking an increase of 942.6 billion yuan year-on-year. Additionally, China's operating loans experienced substantial growth, with the balance of household operating loans hitting 22.15 trillion yuan by the end of 2023, reflecting a 17.2 percent year-on-year increase. This growth rate was 0.7 percentage points higher than the previous year's end. The annual increase in operating loans amounted to 3.23 trillion yuan, up by 546.6 billion yuan compared to the previous year.

General Administration of Customs plans to strengthen health management system in 2024: The person in charge of the General Administration of Customs recently announced plans for 2024, highlighting efforts to enhance source control and improve health management and quarantine procedures for high-risk items. They also revealed intentions to establish a customs biosecurity monitoring and early warning system. Moreover, they stated that customs will dynamically adjust port epidemic prevention measures and establish a flexible emergency prevention and control system for public health crises. They will also promote the implementation of mandatory standards to enhance port public health capabilities. In 2023, customs nationwide successfully prevented and managed the import of various threats. This included detecting 49 species and 31,000 cases of infectious diseases such as COVID-19, monkeypox, and cholera. Additionally, they identified 75,000 species of quarantine pests and intercepted 296 species of exotic pets totalling 44,000 pieces. Furthermore, they addressed 2,403 batches of substandard food and cosmetics, seized 5.5 tons of drugs, and bolstered national security defences.

China's FTA partners expand to 29: As of the end of January this year, China has inked free trade agreements with 29 countries and regions. These agreements represent roughly a third of the nation's total foreign trade value, according to government data. The Ministry of Commerce (MOC) reported significant progress in FTA negotiations and signings in 2023. Among the highlights, China sealed FTAs with Ecuador, Nicaragua, and Serbia, alongside a protocol to enhance the China-Singapore Free Trade Agreement. Notably, the China-Nicaragua FTA marked China's first agreement allowing cross-border service trade and investment through a negative list. The protocol enhancing the China-Singapore FTA commits both parties to open services and investments via the negative list model, fostering opportunities in emerging sectors like the digital economy. The MOC pledged to further develop high-standard free trade networks, expand zero-tariff policies for goods, and bolster the opening up of service trade and investment, including sectors like telecommunications and healthcare. Additionally, it plans to integrate high-standard economic and trade rules related to the digital economy, green economy, standards, and government procurement into future FTA negotiations.

China's Spring Festival box office soars past 5 billion yuan: During the fifth day of the Spring Festival holiday, China's box office earnings surpassed 5 billion yuan (approximately 703.8 million U.S. dollars), including pre-sale figures, as per official reports. Domestic films enjoyed significant success during this period, with the top three highest-grossing films being domestically produced: "YOLO," "Pegasus 2," and "Boonie Bears: Time Twist." According to data from the China Movie Data Information Network, on Tuesday, the domestic comedy "YOLO" maintained its position at the top of China's daily box office, earning 349.96 million yuan. Following closely was the domestic comedy-drama "Pegasus 2," which grossed 278.11 million yuan. The animated film "Boonie Bears: Time Twist" secured the third spot, bringing in 170.89 million yuan on that day.

SOCIAL MEDIA CHATTER IN CHINA

Controversial homework sparks social media debate on parental privacy and education in China: The story of a mother in China, who voiced her concerns about her child's homework focusing on the family's finances, has gained traction on mainland social media. The mother, residing in southern Guangdong province, shared on Douyin that her primary school child was required to divulge details of the family's monthly income and expenses. The homework assignment included columns prompting students to list information such as parents' incomes, spending on necessities, and loans. Expressing skepticism about the assignment's purpose, the mother questioned whether it was meant as homework or a family background investigation. While the exercise purportedly aimed to instill gratitude in young students by helping them understand the value of money earned by parents, the mother remained unconvinced about its validity. The video clip quickly went viral, garnering 3 million views and 60,000 comments on Douyin alone. Concerns were raised by online observers about potential discrimination based on parents' income levels. Some dismissed the seriousness of the homework, suggesting students could fabricate figures without repercussions. One online observer expressed concern, asking: “So will the school treat students differently based on their parents’ different levels of income?” Another person said: “Just tell the kid to write an astronomical figure. I don’t think teachers take the content of this homework seriously.” Such instances of controversial school assignments often attract attention on mainland social media. In a similar case in 2018, a maths teacher in southern Guangdong province tasked students with counting out 100 million pieces of rice, leading to widespread disbelief.

INDIA WATCH

India has been meticulously navigating its economic landscape by strategically engaging in free trade agreements (FTAs) with various countries and regions to diversify its trade portfolio and boost economic growth. These FTAs are crucial in facilitating market access for Indian goods and services while also attracting foreign investment. Noteworthy FTAs already in place include agreements with significant trading partners such as the Association of Southeast Asian Nations (ASEAN), South Korea, Japan, Singapore, and Sri Lanka. India's proactive stance is further evidenced by its ongoing negotiations and exploratory talks to expand trade relations with countries and regions like Australia, the European Union, and the United Arab Emirates. Additionally, bilateral discussions with major economies such as the United States are underway to explore comprehensive trade agreements. Furthermore, India is actively strengthening trade ties within the South Asian region through mechanisms like the South Asian Free Trade Area (SAFTA) and bilateral agreements with neighboring countries like Bangladesh, Nepal, Bhutan, and Sri Lanka. This multifaceted approach underscores India's commitment to leveraging international trade as a catalyst for economic development. In crafting these FTAs, India meticulously considers various factors including market access conditions, tariff structures, rules of origin, and trade facilitation measures to strike a balance between harnessing the benefits of globalization and protecting domestic industries and socio-economic interests. Through these concerted efforts, India aims to assert its position as a key player in the global trade arena while advancing its economic agenda and promoting inclusive growth domestically.

Prepared By

Aachal Ashok Mishra

Aachal completed her graduation in Political Science from Banaras Hindu University. Currently she is pursuing her master's in Political Science from IGNOU. Her areas of interest revolve around international relations, foreign policy dynamics, defence and security. She has previously interned with the Council for Social Development and the Centre for the Study of Developing Societies.