CiCM 6th May 2024

NEWS IN CHINA

Malawi Soybean Enters Chinese Markets: Malawi's soybean industry has achieved a significant milestone by penetrating the Chinese market, aiming to bolster the nation's agricultural exports for economic growth. Paramount Holdings Limited, a local company, successfully exported a trial consignment of 240 metric tons, which received approval from Chinese authorities. Managing Director of Paramount Holdings Limited, Mahesh Ghedhia, highlighted the company's successful accreditation process with Chinese authorities to ensure product quality. Following this trial, the company plans to export 20,000 metric tons of soybeans, responding to the Chinese demand for 100,000 metric tons. However, exports are contingent upon waivers from the Ministries of Trade and Industry and Agriculture due to export restrictions. Minister of Finance and Economic Affairs, Sosten Gwengwe, emphasized the government's role in facilitating the export agreement with China, covering soybeans, macadamia nuts and dry chilies, with negotiations ongoing for tobacco, tea and ornamental fish. Gwengwe highlighted the importance of individual exporters meeting Chinese standards for accreditation, enabling them to fulfill contracts and receive waivers on export restrictions. This deal is heralded as transformative, diversifying Malawi's export portfolio beyond tobacco, as evidenced by the country's 2023 soybean exports totalling $6.9 million, as per the 2024 annual economic report.

Chinese SOEs Report Growth in Q1 Revenue and Profits: During the first quarter of 2024, China’s State-Owned Enterprises (SOEs) saw an increase in both revenue and profits as stated by the Ministry of Finance. These companies combined to produce 19.81 trillion yuan (equivalent to around 2.79 trillion U.S. dollars) in sales, showing a growth of 3.2 percent from last year's corresponding period. During this period, SOEs saw their total profits increase by 2.8 percent to 1.08 trillion yuan compared to the previous year. Yet, the debt-to-asset ratio of SOEs increased to 65 percent as of March, rising by 0.3 percentage points compared to the previous year. These statistics do not include financial companies and cover both state-owned enterprises at provincial level and centrally-administered SOEs. The small rise in the debt-to-asset ratio calls for careful management and financial discipline in these companies going forward.

Domestic Tourism Surges to 295 million Trips During May Day Holiday: China saw a notable increase in domestic tourism during the May Day holiday from May 1 to 5, with around 295 million domestic tourist trips taken, showing a 7.6 percent growth from the previous year and 28.2 percent increase from 2019, as reported by the Ministry of Culture and Tourism. Domestic tourists spent a total of 166.89 billion yuan (around $23 billion), showing a 12.7 percent increase from the previous year and a 13.5 percent growth compared to 2019. Multiple cities experienced strong levels of tourism during the five-day holiday period. In Beijing, about 16.97 million visitors were received, resulting in a tourism income of 19.62 billion yuan (equivalent to $2.7 billion), showing a rise of 9.4 percent and 10.2 percent compared to 2023. Tianjin also experienced a significant growth, welcoming 14 million visitors and generating a tourism income of 12.2 billion yuan (about $1.7 billion). Additionally, there was a significant increase in both incoming and outgoing tourism, which was credited to the reopening of flight routes, simplification of entry procedures and the growth of reciprocal visa exemption deals with different nations. During the May Day holiday, there were 3.67 million inbound and outbound tourists, with over 48 percent being inbound tourists.

Xi Jinping’s State Visit to France: During the third state visit of Chinese President Xi Jinping to France on the 60th anniversary of diplomatic relations, it was highlighted that bilateral ties are crucial for global cooperation. Xi's visit sought to enhance relationships and promote mutual gain, underscoring the notable rise in French investments in China and the growing collaborations in sectors such as aviation, automotive and nuclear energy. Both countries experienced an increase in trade, with China becoming France's biggest trading partner in Asia and vice versa. Significant efforts like the "French farm to Chinese dining table" coordination mechanism demonstrate the strengthening economic collaboration. Innovation in the fields of electric vehicles and aerospace is shown through collaborations that involve mutual exchange of technology. For instance, the investment by Stellantis Group in Chinese electric vehicle company Leapmotor Technology demonstrates collaboration between third-party markets, highlighting strategic partnerships that go beyond just two parties. Moreover, collaborative infrastructure initiatives in nations such as the Republic of the Congo underscore mutual dedication to regional progress.

China Launches Plan to Help Low-Income Families: China’s central government has announced plans to enhance the identification and support of low-income families, aiming to alleviate their hardships and improve their quality of life. The Ministry of Civil Affairs issued a directive mandating local governments to utilize advanced methods such as big data analysis or door-to-door visits to accurately identify those in need. Emphasizing the importance of privacy protection, the identification process will be based on the actual living conditions and incomes of applicants, ensuring fairness and transparency. Furthermore, stringent reviews will be conducted to ensure that government assistance reaches those who truly require it. Dynamic monitoring and management systems will be implemented to closely track the needs and expenditures of low-income individuals or families, particularly in areas such as healthcare, education, and disability support. Efforts will also focus on raising awareness about eligibility criteria for government assistance, with grassroots Party organizations playing a role in guiding individuals towards employment opportunities to improve their financial situation. The Ministry defines low-income individuals as those receiving government minimum living allowances, at risk of falling back into poverty, or facing severe financial hardship due to fixed expenses. While income thresholds may vary by region, generally, individuals with annual incomes below 10,000 yuan ($1,386) or 15,000 yuan are considered low-income, except in economically prosperous regions like Beijing and Shanghai.

SOCIAL MEDIA CHATTER IN CHINA

Wife’s Dedication Towards Her Husband in Vegetative State Moves Social Media: Sun Hongxia's unwavering dedication to her husband, who spent a decade in a vegetative state following a heart attack, has captured the hearts of many on mainland social media. Refusing to abandon hope, Sun's loving care and perseverance eventually led to her husband's remarkable recovery. Despite the challenges and sacrifices, Sun remained steadfast, spending every moment tending to her husband's needs. From ensuring his comfort to managing medical interventions like a tracheotomy and urinary catheter, Sun's devotion never wavered. Her tireless efforts bore fruit as her husband gradually regained consciousness, a testament to her love and determination. The touching story resonated deeply online, with numerous individuals expressing admiration for Sun's selflessness and the profoundness of her love. Her father-in-law, deeply moved by her sacrifices, proclaimed her to be more than a daughter, describing her as an unparalleled angel. In May last year, the story of a wife in eastern China region who spent three years caring for her husband moved Chinese netizens as her husband recovered from coma. Such narratives of profound caregiving and love often garner attention on mainland social media, serving as reminders of the resilience and compassion within human relationships.

INDIA WATCH

Uttarakhand Wildfire Tragedy: Xinhua published an article about the wildfire in Uttarakhand focusing on the sad fatalities and the actions taken by local officials to control the fire. Reports have highlighted the impact of the fires, with five deaths occurring within a three-day period. The extent of the situation is highlighted by the coverage, as people are sustaining burn injuries while trying to fight the fires. The directions given by the Uttarakhand Chief Minister, Pushkar Singh Dhami, to implement bans on burning fodder and solid waste near forests have been acknowledged as actions taken by the government to reduce further harm. The coverage shows the Uttarakhand wildfires as emblematic of broader ecological issues facing the region, emphasizing the urgency of addressing environmental protection measures. The potential for rain to alleviate the fires is highlighted as a hopeful sign, indicating the importance of weather conditions in tackling such disasters. Chinese media presents this news as a reflection of India's environmental challenges, particularly concerning forest fires.

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.