CiCM 19th February 2024

NEWS IN CHINA

Fourth meeting of the Central Committee for Comprehensive Deepening Reforms held, chair by Xi Jinping: Chaired by Xi Jinping, the fourth meeting of the Central Committee for Comprehensive Deepening Reforms, approved several significant reform initiatives aimed at enhancing land management, promoting green transformation, improving emergency management capabilities, and fostering innovation. During the meeting, Xi emphasized the importance of establishing an efficient land management system aligned with macro policies, enhancing land element allocation accuracy, and promoting a spatial development pattern conducive to high-quality development. The meeting also stressed the necessity of focusing on key areas to achieve comprehensive green transformation in economic and social development, emphasizing the importance of promoting green technological innovation and policy support for green transformation. Additionally, efforts to strengthen grassroots emergency management and accelerate the formation of a basic system to support comprehensive innovation were highlighted. The meeting acknowledged the progress made in reform efforts since the 20th National Congress of the Communist Party of China and outlined the tasks for further deepening reforms in the coming year, emphasizing the importance of addressing institutional obstacles to Chinese-style modernization. Members of the Standing Committee of the Political Bureau of the CPC Central Committee and relevant government officials attended the meeting. Recently, the Central Committee of the CPC issued the ‘Regulations on the Study and Education of Party History,’ a comprehensive directive consisting of 34 articles and 6 chapters, requiring all levels of Party committees to carry out party history study and education and giving full play to the role of party history.

Guangdong Province unveils ambitious plans for high quality development at conference in Shenzhen: Guangdong convened its provincial high-quality development conference in Shenzhen, marking the first official working day after the Chinese New Year holiday. Huang Kunming, Party Secretary of Guangdong, emphasized the pivotal role of scientific and technological innovation in steering the province towards high quality development. He outlined strategic initiatives aimed at fostering industrial innovation and enhancing productivity. Key directives included the acceleration of the construction of a globally influential industrial scientific and technological innovation centre and the promotion of technological adoption among enterprises to elevate product quality and efficiency. Governor Wang Weizhong urged deep involvement of companies in priority projects and also called for intensified efforts in generating scientific and technological breakthroughs and nurturing innovative talents. Ai Xuefeng, director of Guangdong Provincial Development Reform Commission revealed plans for 1,508 provincial critical projects with an annual investment of RMB 1 trillion, and more than 370 other projects covering new generation IT, biology, high-end equipment manufacturing and new materials with an annual investment of RMB 150 billion. Zhu Kongjun, director of the Department of Education of Guangdong Province, revealed that this year, Guangdong will strive to add ten national and provincial innovation platforms and transform over 2,000 innovation achievements.

Chinese stocks sore as trading resumes post New Year holiday: Chinese stocks surged on Monday, marking the first day of trading after the Chinese New Year holiday. The Shanghai Composite Index rose by 1.56 percent to reach 2,910.54 points, while the Shenzhen Component Index climbed by 0.93 percent, closing at 8,902.33 points. The combined turnover for stocks listed on these indices amounted to 957.2 billion yuan ($134.76 billion). Notably, over 4,200 stocks experienced gains, with 270 of them hitting the daily limit for upward movement. The uptrend was led by stocks linked to education and the innovative AI model "Sora," while securities and pork-related stocks faced significant declines. The ChiNext Index, which tracks China's equivalent of the Nasdaq for growth-focused enterprises, also saw a positive movement, gaining 1.13 percent to finish at 1,746.42 points. Investors showed optimism as trading resumed, with various sectors contributing to the market's upward trajectory. The strong performance of certain sectors reflects ongoing trends and investor sentiment, indicating a positive start to post-holiday trading activities in China's stock market.

Party leaders across four provinces hold study sessions in a bid to implement Xi’s speeches and directives: Party leaders in four provinces across China convened intensive study sessions to delve into the guidance provided by General Secretary Xi Jinping during his recent inspections and speeches, underlining the importance of aligning their work with the Centre’s strategic goals and addressing key developmental challenges. The Municipal Party Committee of Tianjin held a session under the leadership of Secretary Chen Miner, emphasizing Xi Jinping’s directives meticulously. Key figures from municipal institutions, including Mayor Zhang Gong and Chairman Wang Changsong, echoed the sentiment, delving deep into the essence of Xi’s address during his inspection of Tianjin. They highlighted the significance of aligning with Xi’s vision for Tianjin’s progress in the new era, focusing on economic development, innovation, and cultural advancement. In Jiangxi, Governor Ye Jianchun chaired the 40th Provincial Government Executive Meeting, focusing on the implementation of Xi’s directives in tandem with the provincial agenda. Measures were adopted to enhance the safety and environmental standards of chemical industry parks and bolster elderly meal services. Additionally, strategies were devised to optimize flood control efforts, underscoring the province's commitment to safety and sustainable development. Provincial Party Committee Secretary Yi Lianhong led discussions in Zhejiang, stressing the importance of multi-party cooperation and political consultation. Yi emphasized the role of democratic parties and industry federations in contributing to the province's development. He encouraged active participation in governance and consultation processes, underscoring the significance of collective wisdom in driving progress. Similarly, in Anhui, Provincial Party Committee Secretary Han Jun convened a meeting to convey Xi’s New Year greetings and discuss implementation strategies. Attention was directed towards strengthening party building and attracting investment and talent to propel high-quality development. Emphasis was placed on urban revitalization, talent cultivation, and agricultural modernization to elevate Anhui’s status as a bastion of progress.

The National People’s Congress completes deliberation on Deputies’ proposals; Second Plenary Session set for March: The Delegate Affairs Commission for the Standing Committee of the National People’s Congress (NPC) announced on Monday that it has completed the deliberation on 271 proposals submitted by NPC deputies during last year’s plenary session. Fu Wenjie, the deputy director of the commission, revealed that a total of 8,314 suggestions were received during the annual gathering. All 271 proposals were forwarded to nine NPC special committees for examination, and the suggestions underwent scrutiny by 204 institutions and organisations. The commission’s work report was submitted to the NPC standing committee in December. In addition, Monday’s briefing highlighted 10 exemplary cases of high quality deliberation and the processing of deputies’ proposals and suggestion. These cases included the training of community-level general practitioners, the development of skilled nursing personnel for the elderly and the establishment of standards for autonomous driving and intellectual property protection. The forthcoming Second Plenary Session of the 14^th NPC is slated to commence on 5^th March. More than 2,000 NPC Deputies are expected to convene to hear reports from the NPC Standing Committee, the Supreme People’s Court (SPC), and the Supreme People’s Procuratorate (SPP) during the upcoming session.

SOCIAL MEDIA CHATTER IN CHINA

Andy Lau’s iconic song ‘Gong Xi Fa Cai’ reignites cultural atmosphere online: Chinese New Year festivities in China are accompanied by the ubiquitous presence of Andy Lau’s iconic song ‘Gong Xi Fa Cai’, which has become synonymous with the holiday season akin to Mariah Carey’s ‘All I Want For Christmas Is You.’ The song, featuring a well-known refrain meaning, ‘Wishing You Prosperity,’ captures the essence of the season, conveying wishes for success, wealth, and happiness in the year ahead. Originally debuted during CCTV's Spring Festival Gala in 2005, the song's popularity surges annually from January to February, coinciding with Chinese New Year celebrations. Its cyclical rise in search popularity on platforms like Google Trends and its Chinese counterpart Baidu Statistics highlights its enduring appeal, particularly in Guangdong province, Andy Lau's hometown. This year the song has sparked a cultural phenomenon online, inspiring a wave of memes and reactions across social media platforms. In social media platforms like that of Xiaohongshu memes humorously liken Lau’s emergence for the holiday season to Carey’s ‘defrosting,’ with playful references to Lau ‘thawing out’ as the New Year approaches. The hashtag "Andy Lau has been working in supermarkets for 19 years now" trended on Weibo, amassing over 200 million views, as users shared humorous anecdotes of encountering the song while shopping for New Year essentials. "Gong Xi Fa Cai" has ingrained itself in the fabric of Chinese New Year celebrations, serving as a shared cultural touchstone for people across China.

INDIA WATCH

China’s global position as an emerging power in scientific and technological innovation can be partly attributed to unrestrained government backing to industries. Continued amalgamation of state and private organisations has also enabled the advancements made in science and technology sectors. India too is positioning itself as a global powerhouse in scientific and technological innovation. The nation's research and development (R&D) landscape are witnessing remarkable growth, fuelled by initiatives spanning from clean technology and sustainable practices to cutting-edge manufacturing and electric vehicle (EV) advancements. With a surge in R&D investments, India's expenditure in this sector is poised to hit $100 billion by 2025, positioning it as the third-largest spender globally. Strategic-economic initiatives such as "Make in India" and "Digital India" are yielding dividends, supported by tax incentives and incubation centers fostering innovation. Niche domains like biotechnology, renewable energy, electric mobility, space technology, and nanoscience are also receiving significant attention, with substantial investments and policy support. India has emerged as the third-largest publisher of high-quality scientific papers globally, with prestigious institutions like the Indian Institutes of Science and Technology spearheading advanced research in fields like artificial intelligence and biomedical engineering. The demand for state-of-the-art laboratory infrastructure and equipment is surging, driven by government initiatives promoting local manufacturing and the expansion of testing and diagnostic facilities, especially post-COVID-19. Sustainability has become a national priority, with substantial investments in renewable energy, cleantech, and green technologies. Initiatives like the Production Linked Incentive (PLI) scheme for ACC battery manufacturing aim to bolster the EV sector, while innovations in biofuels and waste-to-energy technologies have received policy backing as well. The adoption of Samarth Udyog Bharat 4.0 (Industry 4.0) technologies like automation and IoT is reshaping traditional sectors, fostering efficiency and sustainability. As India continues its trajectory of technological and sustainable development, its thriving R&D ecosystem offers lucrative prospects for companies seeking to tap into one of the world's most dynamic scientific markets.

Prepared By

Shourjyadipta Roy

Shourjyadipta Roy is currently pursuing his Masters' in Political Science and International Relations from the Department of International Relations, Jadavpur University. He takes a keen interest in Chinese foreign policy, China's impact on the world and Chinese politics as a whole. He plans to pursue research in the near future.