CiCM 14th January 2025

NEWS IN CHINA

Xi Jinping’s Vision Fuels Zunyi’s Growth: Guided by General Secretary Xi Jinping's vision of integrating development with openness, ninety years after the Zunyi Conference, Zunyi embodies the spirit of perseverance and innovation, transforming into a hub of economic vitality and cultural heritage. Zunyi actively participates in initiatives like the Belt and Road and the Guangdong-Hong Kong-Macao Greater Bay Area. In Chishui, over 300 bamboo enterprises, including 10 focused on "bamboo instead of plastic," have emerged, exporting sustainable products globally. Guizhou Hangpeng New Materials Technology Co., Ltd. in Bozhou has also opened to international markets, exporting $300,000 worth of automobile components - aluminium alloy wheels and core components for new energy vehicles- in 2024. Zunyi leverages its strategic location, strong transportation networks, and historical significance to develop a new inland open economy. From guitar manufacturing in Zheng'an to eco-tourism in Huamao Village, the city transforms historical strength into development momentum, continuing the Long March of the new era with determination and purpose.
Financial Bonds to Gain Momentum as China Tackles Debt Risks: China is set to accelerate the issuance of replacement bonds in 2025, with Hubei Province and Qingdao City leading early issuances to manage local government debt. On January 13, these regions issued a total of 67.85 billion yuan in bonds, including 49 billion yuan in replacement bonds, aimed at reducing implicit debt and freeing fiscal resources for infrastructure and public services. After approving 6 trillion yuan for debt swaps in late 2024, the Ministry of Finance has emphasized swift implementation and high-pressure supervision to mitigate hidden debt risks. Experts predict a slower pace for bond issuance this year, with replacement bonds spread across the first half and new special bonds peaking in later quarters. Strict regulations curb new hidden debts and encourage urban investment companies to transition into market-oriented entities. Document No. 226 highlights financial institutions' role in reducing risks through structured extensions and replacements, signalling a focus on sustainable debt management.
Spring Festival Travel Season to Reach 510 Million Railway Passengers: China's 2025 Spring Festival Railway Travel Season will run from January 14 to February 22, spanning 40 days. The national railway is expected to transport 510 million passengers, averaging 12.75 million daily. Peak travel days are January 25 and February 4, with 10.3 million passengers expected to travel on the opening day (January 14). This season marks the first after adopting an eight-day Spring Festival holiday, easing transit visa-free policies, and the festival's World Heritage recognition, driving increased travel demand. To meet this, the railway department has increased the seating capacity, added night routes on popular lines, and scheduled over 14,000 passenger trains daily, boosting 500,000 more seats daily and passenger capacity by 4% year-on-year. The department also launched digital services like automated ticket order submission and enhanced 12306 platform features to improve the travel experience. Safety measures include equipment checks, disaster response plans, and snow-clearing efforts to ensure smooth operations.
AI and FinTech Empower a New Era of Financial Transformation: FinTech continues to reshape the financial industry by integrating technologies like AI, big data, blockchain, and cloud computing. AI is now more widely used than big data, with tools like machine learning and natural language processing speeding up progress in financial innovation. Domestic FinTech clusters in Beijing, Shanghai, and Shenzhen are thriving, with companies exploring AI's potential in customer service, risk control, and product development. Institutions are leveraging digital platforms and "AI+" applications to enhance financial ecosystems, marking a shift toward more innovative, safer operations. Global expansion is also a priority, with firms targeting regions beyond Southeast Asia. While challenges like high costs and regulatory demands remain, the industry is poised for sustainable growth driven by innovative, AI-powered solutions.
U.S. 'TikTok Refugees' Flock to Chinese App Xiaohongshu: With TikTok facing a potential U.S. ban over national security concerns, American users, now calling themselves "TikTok refugees", are migrating to Chinese social media app Xiaohongshu. As the most downloaded app on the Apple Store, Xiaohongshu has seen an influx of new users sharing their desire to learn Chinese internet slang and assist Chinese students with English homework. This unexpected trend has surprised Chinese users, who now suggest adding translation functions to accommodate foreign users. Experts highlight that the wave of U.S. users could spark new content focused on language learning and cross-cultural exchanges while Xiaohongshu contemplates managing these new challenges.

SOCIAL MEDIA CHATTER

Domestic Violence Survivor Uses Live-Stream Earnings to Help Others Seek Justice: Xie Yumei, a 30-year-old woman from Sichuan, has become a viral sensation in China after revealing her harrowing experience as a domestic violence survivor. In 2021, Xie was repeatedly assaulted by her husband, leaving her with lifelong medical challenges, including the need for a colostomy bag. Her story, shared in June 2023, shocked the nation, leading to her ex-husband’s conviction in December 2023 for domestic abuse. In January 2024, Xie began live-streaming, partnering with a professional host to sell products. Despite mixed reactions online, with some accusing her of exploiting her trauma, Xie clarified that the live-streaming was a way to support her child and cover her ongoing medical expenses. During one emotional video, she used her earnings to help another domestic violence survivor access legal support, receiving widespread praise for her generosity. Xie’s story has sparked greater awareness of domestic violence in China, where over 98,000 warning letters related to domestic violence cases were issued in 2023. Many viewers continue to support Xie, commending her resilience and her efforts to assist others on their journey to justice.

INDIA WATCH

Chinese Media Reacts to Indian Leader's Call for 7-Day Work Week: Chinese media has spotlighted Indian corporate leader S.N. Subrahmanyan’s recent call for a seven-day work week, sparking outrage and debate in India. A South China Morning Post article reports that Subrahmanyan, chairman of Larsen & Toubro, praised Chinese workers working 90 hours weekly while criticizing perceived inefficiencies in other countries. Chinese outlets compared Subrahmanyan's remarks to China's evolving work culture. They highlighted ongoing debates about "996" schedules (9 a.m. to 9 p.m., six days a week), which have sparked criticism and calls for reform. Analysts highlighted the irony of India emulating China’s controversial work practices while facing criticism domestically. Social media reactions in India have been scathing. Memes mocked Subrahmanyan’s comments, with one user calling them “more dangerous than Covid.” Others pointed out the impracticality of such expectations, suggesting higher wages or more hires instead. Chinese reports noted India’s struggle with an overworked culture, citing an International Labour Organization study ranking India among the top countries for long work hours. Experts in China emphasized the need for balanced approaches, warning that extreme work schedules risk burnout and reduced productivity.

Prepared By

Manushka Sharma

Manushka Sharma is a dedicated second year student currently pursuing a Bachelor of Arts in Chinese (Hons.) at Jawaharlal Nehru University (JNU). With a keen interest in international relations, particularly in the dynamics of India-China relations, Manushka brings a unique perspective to understanding cross-cultural connections and geopolitical issues. Alongside academic pursuits, Manushka aspires to make significant contributions to global affairs, leveraging linguistic skills and cultural insights to bridge gaps and foster dialogue. She can be reached at manushka82006@gmail.com.