CiCM 18th April 2024

NEWS IN CHINA

Former PBoC Official Faces Bribery Charges in a Landmark Trial: Former vice governor of the People's Bank of China, Fan Yifei, appeared in court in Huanggang, Hubei Province, accused of accepting bribes worth over 386 million yuan (around 54.35 million U.S. dollars). Prosecutors described how Fan used his influential positions, including as vice governor of the central bank and leadership roles in China Investment Corporation and China Construction Bank, to unlawfully help organizations and individuals with loans, financing, project contracts, and job transfers for almost 30 years, from 1993 to 2022. In his final statement, Fan admitted fault and showed regret for what he had done. The decision is still awaiting, with the court planning to reveal it soon.

China Experiences Remarkable Surge in Foreign Tourists: During the initial three months of this year, China experienced a notable rise in overseas tourists, exceeding three times compared to the previous year, according to the National Immigration Administration. The main countries fuelling this increase are the United States, Australia, Canada, Germany, and the United Kingdom, as well as neighbouring countries such as Russia, Vietnam, and Myanmar. Tourism was the main motive for foreign trips, making up more than 30 percent of the total, with business, visiting family and friends, work, and study being other major reasons. In order to make entry easier, the government implemented various measures such as improving regional visa exemptions and broadening the scope of visa-free entry to Hainan. Significant efforts include providing "individual tourist endorsements" to qualified individuals in Xi'an and Qingdao to travel to Hong Kong and Macao. Moreover, government endorsed the establishment of cross-strait integration zones in Fujian province. Administrative data showed a 24 percent growth from the previous year in the issuance of regular passports, reaching a total of 6.357 million between January to March. In addition, there was a 118.8 percent increase in the issuance of visas and documents to foreigners, reaching a total of 466,000. Additionally, visa-free entries saw a significant surge of 266.1 percent, totalling 1.99 million.

Wang Yi Meets Indonesian Foreign Minister: In a discussion with Indonesian Foreign Minister Retno Marsudi, Chinese Foreign Minister Wang Yi affirmed China's dedication to strengthening strategic mutual trust and enhancing ties with Indonesia to a higher level. Emphasizing the significance of longstanding friendship, Wang acknowledged Indonesia's commitment to the one-China policy and promised China's resilient support for protecting Indonesia's essential interests. He stressed that China is prepared to work closely with Indonesia to improve the quality of China-ASEAN relations, strengthen regional stability, especially in the South China Sea, and promote a fair and just international order. Marsudi recognized that China plays a major role as Indonesia's biggest trade partner and second biggest provider of foreign investment. Marsudi also highlighted the significance of working together in trade, investment, addressing transnational crimes, and promoting enhanced bilateral development.

China's Strategic Moves to Boost Foreign Investment: China’s state council has unveiled an action plan to improve market access, draw in skilled individuals, and conform with global trade standards, in a bid to strengthen its economy and appeal to investors worldwide. The action plan focuses on drawing in foreign investment by decreasing market limitations and promoting technological innovation. Although making up just 3 percent of China's total enterprises, foreign-invested companies play a crucial role in the economy by contributing 40 percent to foreign trade and 10 percent of urban employment. Last year, China registered 53766 foreign-invested companies nationwide, witnessing a 39.7 percent year-on-year increase. In order to promote more investment, China has previously taken measures such as extending visa validity for foreign workers, and promoting cooperation between local and international businesses. It has relaxed market restrictions in financial services sector, resulting in over 110 foreign financial institutions operating in China. The action plan also makes provisions for smooth transfer of innovation resources.

Q1 Economic Data Released for Beijing, Tianjin, Sichuan, Jiangxi and Hunan: The economic data for the first quarter of 2024 was recently released by the National Bureau of Statistics, along with provincial statistics from different regions in China. The GDP of Beijing reached 1.05814 trillion yuan, showing a 6 percent year-on-year growth driven by the expansion of the secondary industry. Tianjin's GDP reached 389.008 billion yuan, marking a 5.3 percent growth compared to the previous year, with a well-rounded expansion in various sectors. Sichuan's GDP grew by 6.1 percent compared to the previous year to reach 1.41426 trillion yuan, with the growth primarily attributed to the strong performance of the secondary and tertiary industries. In Jiangxi, the GDP reached 735.13 billion yuan, showing a 4 percent increase compared to the previous year, mainly driven by growth in the secondary sector. Hunan's GDP reached 1.193 trillion yuan, showing a 4.8 percent growth compared to the previous year, driven by strong performance in the secondary sector. In China, the GDP for the first quarter reached 29.629 trillion yuan nationally, showing a 5.3 percent year-on-year growth at constant prices. Both Beijing and Sichuan excelled above the national average, with Tianjin showing comparable growth.

Chinese Vice Premier Urges Strengthened Efforts in Flood Control and Drought Relief: Chinese Vice Premier Zhang Guoqing stressed the vital necessity of maintaining strong flood control and drought relief measures to protect lives and property. During a national video conference on flood control and drought relief work, Zhang emphasized the importance of working together to effectively reduce the damage and losses caused by disasters. Zhang emphasized the importance of improving measures for disaster prevention, minimizing the impact of disasters, and strengthening disaster relief capabilities. He stressed the need to enhance the flood control and drought relief command system in order to be ready for and to address significant flooding and drought incidents.

SOCIAL MEDIA CHATTER IN CHINA

Top of Form

Controversy Surrounding Fan Zeng's Marriage: 86-Year-Old Artist Weds 36-Year-Old Xu Meng: The marriage announcement of Chinese artist Fan Zeng, aged 86, tying the knot with his bride Xu Meng, who is 36 years old, has generated debates on Chinese social media. Although Fan is well-respected for his work in calligraphy and painting, his recent marriage has sparked widespread disapproval. Some see his connection with Xu as being based on shallow reasons, mentioning the notable age difference and talk of materialism. Some doubt Fan's honesty, pointing to his previous deceits and scandals in the art world. Fan's standing as a scholar-artist is damaged by allegations of seizing opportunities and being disloyal. Several people also questioned his previous three marriages and called him a ‘traitor’, a ‘disgrace.’In contrast to differing views, some individuals show their backing for the couple, underscoring the significance of true love irrespective of age gaps.

INDIA WATCH

India Gears Up for Massive General Election: Xinhua recently published an article discussing the upcoming general election in India beginning from April 19. The article delves into pertinent questions like PM Modi’s chances of third term as well as performance of opposition coalition under the Congress leadership. Describing the ‘mammoth’ nature of the Indian elections, the article talks about 968 million voters as well as cost of elections where it notoriously accuses India of “burning” around USD 8.6 billion in 2019. It also falsely blames India’s illiteracy for assigning common election symbols to different political parties, whereas in reality, these symbols often signify the respective party’s vision and aims. While the report mentions PM Modi’s development programme as his main strength, it also refers to some media and experts’ views showing fault lines in his policies. As an example, it mentions Make in India policy which ‘failed’ to fulfil its target of increasing share of manufacturing in GDP to 25 percent by 2022. This has also given rise to unemployment and farmers’ protests, the report stated. The report also argued that the demand for name change from ‘India’ to ‘Bharat’ is in line with the government’s emphasis on nationalism. Moreover, it also talks about several arrests of opposition leaders by India’s law enforcement agencies which has made opposition leaders to unite ‘in an unprecedented manner.’ However, the report predicts that lack of charismatic leaders in opposition and alternative governance model are major drawbacks which makes difficult to “stop” PM Modi from securing third term.

Prepared By

Triveni Mahajan

Triveni is a student of Bachelor of Journalism and Mass Communication at Bennett University and has contributed to the field of Indian Politics Journalism.