CiCM 24th March 2025

NEWS IN CHINA

China Announces New Regulations for Implementing the Anti-Foreign Sanctions Law: Chinese Premier Li Qiang has signed a State Council decree announcing new regulations for implementing the Anti-Foreign Sanctions Law. Under the new regulations, consisting of 22 articles, foreign countries imposing discriminatory restrictions on Chinese organizations and citizens, interfering in China's internal affairs, or threatening its sovereignty may face countermeasures. Those on the anti-sanctions list may face entry bans, business restrictions, and asset seizures, including cash, bank deposits, intellectual property, and natural resources. The regulations also prohibit sanctioned individuals and entities from participating in sectors such as education, legal services, science and technology, trade, culture, tourism, environmental protection, and sports. Authorities have the power to enforce corrections and impose additional restrictions if countermeasures are not properly implemented. Entities subject to sanctions may request suspension, modification, or cancellation of the measures if they rectify their actions and mitigate the consequences.
China and ADB Strengthen Ties to Boost Regional Economic Growth: Chinese Premier Li Qiang met with Asian Development Bank (ADB) President Masato Kanda in Beijing, reaffirming China’s commitment to deepening comprehensive cooperation with the ADB. Li highlighted the challenges facing the global economy, including geopolitical turbulence and rising protectionism, which have slowed recovery and increased uncertainty. He called on Asian nations to strengthen solidarity, uphold multilateralism, advance regional economic integration, and remove trade, investment, and technology barriers. He also emphasized the importance of stabilizing industrial and supply chains, enhancing macroeconomic policy coordination, and fostering innovation to boost Asia’s economic resilience and sustainable development. He expressed China’s willingness to share its expertise in poverty reduction and the digital economy to help other developing nations in the Asia-Pacific overcome challenges and achieve sustainable growth. Kanda acknowledged China’s commitment to reform and high-level opening-up, noting its crucial role in driving economic growth in Asia and beyond. He emphasized the ADB’s strong commitment to its partnership with China and expressed readiness to use the 40th anniversary of their cooperation as an opportunity to deepen collaboration in areas such as knowledge innovation and green development, ultimately fostering regional progress and elevating their partnership to new heights.
China Launches “Sky Net 2025" to track Illegal Activities: China has launched “Sky Net 2025” to track fugitives, recover illicit assets, and combat cross-border corruption, according to a meeting of the Central Anti-Corruption Coordination Group’s fugitive repatriation and asset recovery office. Beijing reaffirmed its commitment to strengthening international anti-graft cooperation and maintaining pressure on corruption fugitives abroad. Authorities are set to launch targeted crackdowns, with the National Commission of Supervision leading efforts to recover illicit proceeds from duty-related crimes and prevent financial losses. Meanwhile, the People's Bank of China and the Ministry of Public Security will focus on curbing the transfer of illegal funds abroad through offshore companies and underground banking networks. Earlier this year, the country’s top anti-graft body reported that the “Sky Net 2024” campaign resulted in the repatriation of 1,597 fugitives and the recovery of over 18.28 billion yuan (about $2.55 billion) in illicit assets.
China Concludes its 2025 China Development Forum: The China Development Forum 2025, themed "Unleashing Development Momentum for Stable Growth of the Global Economy," took place in Beijing from March 23 to 24. Co-hosted by the Development Research Center of the State Council and the China Development Research Foundation, the event brought together 750 foreign representatives and 130 domestic attendees, including entrepreneurs, government officials, experts, and representatives from international organizations. At the forum, Beijing reaffirmed its commitment to a more proactive fiscal policy in 2025. Finance Minister Lan Fo’an highlighted China’s growing economic and fiscal strength, emphasizing the country’s accumulated experience in macroeconomic management and fiscal governance. He attributed confidence in China's economic outlook to strong fundamentals, numerous advantages, resilience, and vast potential. According to Xinhua News Agency, Lan stated that the primary focus of this year’s fiscal policy is to stimulate consumption and enhance investment efficiency. Addressing global business leaders, he reiterated China’s commitment to ensuring equal treatment for all businesses and continuously improving the business environment.

SOCIAL MEDIA CHATTER

Wu Yanni Lost in 60m Hurdles at World Championships Ignites Social Media Debate: Wu Yanni’s narrow miss at the World Athletics Indoor Championships in Nanjing on Sunday has sparked heated debate on Chinese social media. The 27-year-old sprinter set a new national record of 8.01 seconds in the women’s 60m hurdles, but fell just 0.01 seconds short of making the final. Reactions online have been mixed. Some critics argued that her fame outweighs her athletic ability, with one netizen claiming she is "just a marketing tool and internet celebrity." Others focused on her outspoken personality, tattoos and makeup, rather than her performance. However, many defended Wu, emphasizing that she delivered her best performance and still managed to break the national record, despite missing the final by the narrowest of margins.

INDIA WATCH

An article published in the China Daily Discusses India’s Plans to impose 12% tariff on Steel Industry: An article published in the China Daily highlighted India's plan to impose a 12% "safeguard duty" on certain steel products for 200 days to protect its domestic industry from a surge in imports. The article noted that the move has been welcomed by local manufacturers, and has raised concerns among downstream industries over rising costs. The article also quoted senior officials stating that 12% provisional safeguard duty was a necessary measure to mitigate serious harm to India's domestic steel industry. Guo Xuetang, Director of the Research Centre for South Asia and Indian Ocean Studies at Shanghai University, suggested that India's predicted tariff was a natural response to US protectionism. He noted that the Indian government aimed to boost domestic competitiveness while demonstrating its ability to safeguard industries at the global stage. While some believe the tariff could impact Chinese steel exports to India, Guo disagreed, arguing that India still relies on high-quality, cost-effective Chinese steel for key infrastructure projects such as bridge construction. Experts quoted in the article also pointed out that both India and China have been affected by US tariff hikes, creating a potential opportunity for deeper economic cooperation between the two nations.

Prepared By

Ophelia Yumlembam

Ophelia Yumlembam is a Junior Research Associate at the Organisation for Research on China and Asia (ORCA). Before joining ORCA, she worked at the Dept. Of Political Science, University of Delhi, and interned at the Council for Strategic and Defence Research in New Delhi. She graduated with an M.A. in Political Science from the DU in 2023. Ophelia focuses on security and strategic-related developments in Myanmar, India's Act East Policy, India-Myanmar relations, and drugs and arms trafficking in India’s North Eastern Region. Her writings have been featured in the Diplomat, South Asian Voices (Stimson Centre), 9dashline, Observer Research Foundation, among other platforms.