CiCM 17th-18th February 2024

NEWS IN CHINA

Wang Yi met US State Secretary Blinken in Munich: Chinese Foreign Minister Wang Yi and US Secretary of State Antony Blinken held an in-depth and constructive meeting on the sidelines of the Munich Security Conference. Wang emphasized the need to implement the "San Francisco Vision" and develop China-US relations along a healthy, stable, and sustainable track. He urged the US to view China's development objectively, pursue a positive and pragmatic policy, and respect the One-China principle regarding Taiwan. Wang warned against actions that could lead to "decoupling from China", emphasizing potential backfire on the US. Discussions included people-to-people exchanges, urging the US to cease unwarranted harassment of Chinese citizens. The two sides also exchanged views on regional issues, such as the Ukraine crisis and the Palestinian-Israeli conflict, agreeing to maintain contacts through special envoys.

China’s tourism industry witnesses major boost during Spring Festival: During the Spring Festival holiday (February 10-February 17), the tourism industry in China experienced robust growth. The Ministry of Culture and Tourism reported record-breaking figures, with domestic traveller numbers reaching 474 million, marking a 34.3 percent increase from the previous year and a 19 percent surge compared to 2019 pre-COVID levels. Domestic tourism-related revenue soared to approximately 632.69 billion yuan ($87.95 billion), indicating a remarkable 47.3 percent growth from the previous year and a 7.7 percent increase compared to 2019. Inbound and outbound tourism also performed well, with 3.6 million overseas trips made during the holiday, and the Chinese mainland receiving about 3.23 million visits from overseas destinations. The flourishing numbers were attributed to heightened travel willingness, increased market supplies, and improved travel policies. Throughout the holiday, a total of 16,300 commercial performances were staged nationwide, generating 778 million yuan in revenue, reflecting a substantial year-on-year increase of 52.1% and 80.09%, respectively. The performances proved highly popular, drawing in over 6.57 million audiences, indicating a significant year-on-year surge of 77.71%, as reported by the Ministry of Culture and Tourism.

China records current account surplus in 2023: According to China’s State Administration of Foreign Exchange, current account surplus reached $264.2 billion in 2023, with a 1.5% ratio to GDP. The surplus in goods trade hit $608 billion, the second-highest in history, attributed to China's expanding foreign trade amidst economic recovery. Wang Chunying, spokesperson for the administration, highlighted deficits in the tourism and transportation sectors, with a $180.6 billion shortfall in tourism. Foreign investments in China saw a net inflow, reflecting foreign investors' strong interest in doing business in China. Looking ahead to 2024, Wang expressed optimism, citing improved internal and external conditions and indicated China's ability to maintain basic equilibrium in its balance of payments.

Wang Yi highlights China’s global ambitions at Munich Security Conference: Chinese Foreign Minister Wang Yi emphasized China's role as a stabilizing force amid global turbulence at the Munich Security Conference 2024. Wang highlighted China's contributions in promoting major power cooperation, addressing global issues, enhancing governance, and fostering economic growth. Amid concerns of a "lose-lose" situation, Wang stressed China's stable policy expectations, responsible major power status, and commitment to win-win cooperation. The Munich Security Conference, known as the "Davos of defense," brought together about 60 world leaders and 85 government officials to discuss ongoing and potential conflicts. Wang affirmed China's stabilizing role in major power relations, with a special focus on positive China-Europe relations by focusing on partnership rather than rivalry. He addressed China's role in pressing issues like the Israeli-Palestinian conflict, the Ukraine crisis, and the north Myanmar crisis, emphasizing responsible conflict management. Wang also pledged China's commitment to economic openness, offering a better business environment and supporting global companies. He also focused on the UN’s central role and called for abiding by the UN charter to enhance multilateralism.

Extreme cold wave witnessed across China: The China Meteorological Administration (CMA) issued blue warnings for strong winds and sandstorms as a cold wave sweeps over the country. It has also announced an orange-level cold wave alert, the highest-level during February 18-22 as most parts of China are expected to experience severe temperature drops. Northwest China has seen temperature reductions of 8 to 20 degrees Celsius, with Qinghe County in Xinjiang reaching as low as minus 43.3 degrees Celsius. The cold wave will also bring rain, snow, and strong winds, causing snow and blizzards in Xinjiang, Heilongjiang, and other areas. Wind forces ranging from 7 to 15 were recorded in various regions, leading to sand and dust storms in Xinjiang, Gansu, Ningxia, Shaanxi, and Inner Mongolia. The complex weather conditions have severely impacted return journeys from the Spring Festival holiday. As the cold wave moves southward, southern and eastern China will also experience temperature drops around February 20, with temperatures expected to rise again starting February 26. Chinese citizens are being advised to stay informed, make travel arrangements in advance, and take precautions for changing weather conditions.

SOCIAL MEDIA CHATTER IN CHINA

A little Chinese girl saves money for 3 years to buy a present for grandfather: The heartwarming tale of a 10-year-old girl from Zhejiang province has captivated Chinese social media. The girl diligently saved 2 yuan (28 US cents) every day for three years, accumulating a total of 2,000 yuan (US$280) to purchase a gold bracelet for her grandfather. In a video, she and her mother visit a jewellery shop, where she carefully selects a black gold bracelet. Hesitant yet excited, she empties her piggy bank to pay for the gift, expressing, "This is all my savings." Returning home, she surprises her grandparents with the bracelet, proudly proclaiming, "I bought this with my pocket money." The touching story echoes other instances of Chinese children displaying love for their families, resonating deeply on mainland social media with many praising the girl's heartfelt gesture. In August 2023, a video had gone viral of a three-year-old girl helped her tofu-selling grandfather by bowing to customers and saying: “Welcome again next time.”

INDIA WATCH

The Munich Security Conference (MSC) held in Germany from 16^th to 18^th February 2024 brought together a host of various heads of state, foreign ministers, foreign policy experts and other important stakeholders. Among the list of guests attending was India’s Minister of External Affairs Dr. S. Jaishankar, Chinese Foreign Minister Wang Yi and US Secretary of State Antony Blinken. The 60^th annual conference also facilitated important sideline discussions between India’s foreign minister and Anthony Blinken as well as his British counterpart David Cameron. Over the span of 60 years, the annual conference has shaped to become an important forum in facilitating conflict resolution as well as a trust building mechanism as evident in the bilateral meeting held between Wang Yi and Anthony Blinken. The conference has also gone on to become a medium for expressing the country’s view on a range of diverse challenges. For instance, India’s MEA Jaishankar emphasised upon India's commitment to maintaining cordial relationships with both the United States and Russia despite their ongoing tensions. He also briefly interacted with his Chinese counterpart during the conference. This interaction came in light of the escalating tension between both countries that have only stagnated since May of 2020 when a fatal clash among both armies led to casualties on both sides. Even though 20 rounds of corps commander level talks have taken place leading to pulling back of forces on both sides, the tension remain high given the larger implication of such an event. Both China and India must therefore utilise opportunities presented in such conferences in order to facilitate bilateral discussions all the while maintaining the need for greater communication to avert any future escalation in tensions.