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NEWS IN CHINA

• Wang Yi and Marco Rubio Discuss China-US Relations in Malaysia: On Friday, Chinese Foreign Minister Wang Yi and US Secretary of State Marco Rubio held a bilateral meeting in Kuala Lumpur, Malaysia on the sidelines of ASEAN Foreign Ministers’ meeting. This marked their first in-person meeting since Rubio assumed his current role in January. According to China's Foreign Ministry, the two countries reached an understanding to improve communication extensively. Furthermore, they committed to employing their diplomatic agencies to further their relationship, explore more opportunities for collaboration, and effectively navigate their differences. Wang Yi reiterated China's core stance on developing China-US relations, stressing the importance of translating the shared understanding between their leaders into tangible policies and actions. He expressed hope that the US would approach China with an ‘objective, rational, and pragmatic’ perspective, pursuing peaceful coexistence and mutual benefit to establish a proper path for developing relations in the “new era”. Both ministers characterized their discussions as "positive, pragmatic and constructive", while also sharing issues of common concern.

• President Xi Promotes High-Quality and Culturally Rooted Chinese Cinema: President Xi Jinping has called on China's film industry to create more high-quality cinematic works that reflect contemporary society and people's aspirations. This directive came in a reply letter to eight veteran film artists, including a 97-year-old actress Tian Hua. President Xi praised the artists for their decades of dedication and encouraged them to continue being role models in upholding artistic integrity and fostering cultural confidence, thereby inspiring the broader film community to contribute to China's cultural strength. The veteran artists, all born before the 1960s with over 40 years of experience, had previously written to Xi Jinping. Director Xiao Guiyun, 84, expressed her joy, seeing Xi's reply as a powerful encouragement for the entire Chinese film sector. She highlighted the industry's remarkable growth, with silver screens surging from 6,000 in 2010 to nearly 100,000 today, making it the world's largest network. Actor Chen Daoming, President of China Film Association, believes Xi's message will motivate filmmakers to address the current "quantity over quality" issue, and thereby, strive for cinematic excellence and aim to build China into a strong filmmaking nation.

• China Unveils New Policies to Boost Employment: China's State Council has rolled out a comprehensive set of new policies designed to boost employment and stabilize the job market, aligning with the nation's goal of high-quality economic development. Employers can now benefit from higher unemployment insurance reimbursements, and companies facing financial difficulties may defer social insurance payments without incurring late fees. Small and medium-sized enterprises in key sectors like modern manufacturing and new energy will receive subsidies for hiring specific groups, including college graduates, migrant workers and demobilized military personnel under long-term contracts. Additionally, a one-time subsidy of up to 1,500 yuan per person is available until December for companies that hire young, registered unemployed individuals (aged 16-24) and maintain their social insurance contributions for at least three months. Beyond direct financial aid, the policies indicate local authorities to create jobs through urban-rural development projects and provide robust financial backing for company-led skills training programs. The new directives also emphasize improving employment data collection and strengthening oversight of employment funds to prevent fraud.

• China and Egypt Sign MoU to Boost Financial Ties: China and Egypt signed a Memorandum of Understanding (MoU) to enhance bilateral financial collaboration. The agreement, witnessed by Chinese Premier Li Qiang and Egyptian Prime Minister Mostafa Kamal Madbouly, focuses on promoting local currency settlement, central bank digital currency and digital innovation. During his Egypt tour, Premier Li expressed China's desire to optimize bilateral trade and create new cooperation opportunities, particularly in emerging fields like new energy, electric vehicles, artificial intelligence and digital economy. The MoU aims to strengthen financial cooperation through business exchanges and knowledge sharing on monetary policy, financial markets and payment systems. It specifically seeks to boost local currency settlement for current account transactions and direct investment between the two countries. According to the People's Bank of China, this arrangement will foster exchanges, cooperation and policy coordination, creating a better environment for financial cooperation and deepening comprehensive strategic partnership between both countries.

• Beijing Launches Action Plan to Lead AI-Driven Scientific Research: Beijing government has recently launched "Action Plan to Accelerate High-Quality Development of AI-empowered Scientific Research (2025-2027)". Spearheaded by multiple agencies, this strategic roadmap is aimed at positioning the city as a global hub for "AI for Science". The plan outlines 17 key initiatives across four domains: core technology R&D, infrastructure, applied innovation and ecosystem development. Beijing has already been a pioneer in this field, establishing the Beijing Institute of Scientific and Intelligent Technology in 2021, the world's first research institution dedicated to AI for Science. By 2027, Beijing aims to develop a large scientific foundation model, creating at least 10 high-quality scientific databases for over 10 million users, and deploying in-depth AI applications in at least 5 fields, producing over 8 benchmark cases. The plan also prioritizes cultivating talent, strengthening international collaboration and building a competitive industrial cluster. Officials emphasize the plan's focus on fundamental theoretical advancements and multidisciplinary integration in fields such as materials science, high-end instruments and biomedicine, aiming to create intelligent laboratories for major scientific problems. Significant investment from the Artificial Intelligence Industry Fund will support joint R&D.

SOCIAL MEDIA CHATTER

• Gen Z's Unexpected Savings in China Spark Online Debate: A recent survey, conducted by DT Business Observer and First Financial, reveals a remarkable financial trend among China's Gen Z as a notable 12.3 percent reportedly possess savings exceeding 300,000 yuan (approximately $43,000 USD). This finding has sparked considerable discussion among economists, policymakers and common people. The data involved over 1,800 individuals, primarily from affluent urban areas. The survey indicated that nearly 70 percent of all respondents held over 100,000 yuan in savings. The survey also found that young individuals are increasingly gravitating towards money market investments like Yu'E Bao and WeChat Wallet. The survey's findings have generated lively discussion on social media platforms like Weibo. Some netizens suggested that the younger generation might be saving their own earnings while relying on parental support for daily expenses. Others questioned the survey's scope, noting its exclusive focus on higher-tier cities. The survey's credibility is under scrutiny due to its limited sample size. Critics point to a significant discrepancy with official central bank statistics, which show that only 1.5 percent of the overall population has savings exceeding 300,000 yuan, raising questions about the survey's broader representativeness across China.

INDIA WATCH

• Chinese Media Reports Nationwide Strike in India Over New Labor Policies: An article published by CGTN reports that India experienced partial disruption in services as ten major trade unions initiated a nationwide strike on July 10 against the government's new labor policies. The article notes that essential services, including banking, postal and power were affected as workers protest against what they term "anti-worker and anti-farmer policies". It further adds that protesters condemned privatization, rising unemployment and the dilution of labor rights. The article also quotes Amarjeet Kaur, General Secretary of the All-India Trade Union Congress, who argues that the government introduced new labor codes without consulting unions, and is privatizing profitable public sector units and services like education and healthcare, making them expensive. As per the report, thousands of workers and farmers joined the protests across the nation, demanding the repeal of four new labor codes passed during the COVID-19 pandemic. Citing farmer leader Vijoo Krishnan, the article argues that farmers are seeking remunerative prices for crops and guaranteed procurement, which emphasizes the coordinated nature of the protest between farmers, agricultural workers and the working class.

Prepared By

Maheshwar S Chhaunkar

Maheshwar S Chhaunkar has completed his Bachelor's degree in Political Science and History from Sri Aurobindo College, University of Delhi. He is currently working as an IT Assistant at CENJOWS. His areas of interest include India-China relations, Indo-Pacific affairs and Asian politics.