CiCM 17th April 2024

NEWS IN CHINA

Action plan to increase the supply of digital talent: China has set up an action plan to increase and support the supply of digital talent by 2026. With China’s growing economy, the need for support for digital talent is on the rise as well. This plan was announced in collaboration with nine departments including the Ministry of Human Resources and Social Security. It aims to provide support for digital talent to be more innovative and increase the number of high-quality talent in the next three years. Training for digital technicians in sectors like big data, artificial intelligence, intelligent manufacturing, integrated circuits, and data security are all a part of the plan. It also includes setting up of national occupational standards for new occupations in those sectors. Through this plan, those who have studied abroad with this digital talent are also encouraged to start their businesses in the sectors of artificial intelligence, information technology, intelligent manufacturing as well as e-commerce. Since there is a lack of support for the development of China’s digital economy and a shortage of digital talent, this action plan is part of China's efforts to counter these obstacles.

Jiangxi affected by floods and hailstorm: On 16th April, Jiangxi Province in China was struck by a hailstorm and floods. This affected 6221 people in 7 areas including Yichun City’s Yuanzhou district, Zhanshu district, Wan’an county, Gaoxin county, etc. resulting in one fatality, 88 evacuations, 27 relocations, and a significant level of agricultural damage. About 1000 hectares of land has been affected. One house was severely damaged while 106 houses were moderately damaged. The economic loss from the disaster has been estimated to be around 12.83 million yuan. Further checks and counts are still being conducted. The Jiangxi Flood Control and Drought Relief Headquarters promptly worked to aid the situation while also holding an emergency meeting to discuss prevention and response measures. The Jiangxi emergency department in each county is working to strengthen their response and assessment to improve real-time forecasts of rainfall, work on prevention processes and improve response measures.

Challenges for Chinese oil sector amidst growth: China's petroleum refining capacity is set to expand by 85 million metric tons from 2024 to 2027, with 35 million tons of outdated capacity to be upgraded. This forecast was presented during the launch of the Blue Book on China's Petroleum Distribution Industry. Sun Renjin of the China Petroleum Circulation Association highlighted the challenges, noting limited growth potential due to strict capacity controls. Despite a 16.4 percent increase in finished oil production in the previous year, growth may slow in near future. Consumption rebounded driven by economic recovery, especially in transportation and warehousing. Notably, demand for jet fuel is expected to rise with aviation sector recovery. Sun estimated that the consumption of finished oil products will exceed 400 million tons in 2024. China emphasizes green energy, with plans to monitor carbon emissions and improve efficiency. The oil industry is expected to adopt digitalization and regulation while promoting clean energy transformation. Market regulations have been introduced to enhance operations, taxes, and gas stations. Last year, NDRC and three other departments issued guidelines to establish monitoring database for carbon emission from petroleum refining enterprises and carbon footprints of allied products.

China holds live-fire drill along Myanmar border: Recently, China carried out a defense exercise along the Myanmar border that involved both ground and air forces under PLA’s Southern Theatre Command, amidst fighting within the three brotherhood alliance and Myanmar’s military junta. This is the third such live-fire drill that was carried out that has been made public by Beijing ever since the alliance of rebel groups in northern Myanmar launched an offensive against the country's military junta last October. The Three Brotherhood Alliance, a coalition of three rebel militias in northern Myanmar began conducting strikes in late October posing a major challenge to the limitary junta that overthrew the country’s democratically elected government in 2021. China has repeatedly raised concerns about the security of the border region and several people in China’s Yunnan province which shares around 2000 km of border with Myanmar have been wounded by aerial fire exchanges originating from Myanmar. Few days ago, PLA Daily had warned that PLA would take “all necessary measures” to protect its people after repeatedly expressing concerns about security of border region. Despite China’s efforts to establish ceasefire between two groups through four rounds of peace talks, it has failed to bring peace.

China strongly opposes USA’s Section 301 investigations: China’s commerce ministry spokesperson rejected U.S.’ launch of investigation of China’s maritime, logistics, and shipbuilding sectors under Section 301. The spokesperson also claimed that the US petition is full of false accusations and misinterprets normal trade and investment activities as damaging to U.S. national security and corporate interests. The statement urged the U.S. to respect facts and multilateral rules, demanding immediate stop on such practices and to return to the rules-based multilateral trading system. On the other hand, the spokesperson also accused the U.S. of offering several billions of subsidies to protect their own shipbuilding industries. The report also mentions that such actions undertaken by previous U.S. administration was opposed by several WTO members as it violated WTO rules.

SOCIAL MEDIA CHATTER IN CHINA

Street vendor's daughter gains admission for a PhD: Zhang BingBing, a Chinese street vendor’s sacrifices has paid off as her academically gifted daughters have now gained acceptance into prestigious universities for a PhD. Zhang is a PhD candidate at the Dalian University of Technology in Liaoning and now expresses her gratitude for her mother who was overjoyed upon hearing the good news. Zhang is the first student from her village to be admitted to a ‘985 university’, an elite group consisting of only the top 39 institutions in the country. Her mother stopped her education after primary school to fend for her family by selling roasted sweet potatoes to make ends meet. She expressed on her Douyin account that their parents’ unwavering support and sacrifices have paved the way for her academic success. Last year, a similar case of a sanitation worker had found popularity on social media.

INDIA WATCH

Celebration of 100 years to Tagore’s first visit to China: The Global Times discusses cultural events being held in Beijing to celebrate Rabindranath Tagore who visited China in 1924. At Fayuan temple in Beijing’s Xicheng district witnessed centennial poetry fair with the theme of “Salute to the Masters, Celebrating Centuries of Poetry.’ China has named these events after the lilac flower to symbolize Tagore's close ties with Chinese architect Lin Huiyin and poet Xu Zhimo. The report mentions that when Tagore visited China, he attended a ceremony at the Fayuan temple where he expressed his admiration for Chinese culture. It also claims that he regarded China as his second home. The commemorative events were attended by his descendent Souraja Tagore, also a literature professor who expressed her fondness for Chinese culture and appreciated the devotion of the Chinese people to the arts. Similar events were held at several other places in the past few days including the one at Peking University. The event at Fayuan temple was attended by vice minister of CPC publicity department and President of China Media Group Shen Haixiong along with poets Shu Ting, Jidi Majia and President of Chinese Poetry Society Zhou Wenzhang.

Prepared By

Prisha Thakore

Prisha Thakore, a first-year student at Flame University, Pune, delves into the realms of economics and finance with a focus on China and Southeast Asia. As an ORCA research intern, she explores the intricate connections between these regions and the global markets.