CiCM 24th May 2024

NEWS IN CHINA

Xi Jinping Calls for Deepening Reforms to Advance Chinese Modernization: Chinese President Xi Jinping led a symposium in Jinan, Shandong Province, focusing on advancing Chinese modernisation through comprehensive reforms. The meeting was attended by representatives from businesses and academia. Xi highlighted the goals set during the 20th National Congress of the Communist Party of China (CPC) to build a modern socialist nation. He emphasised that making changes is crucial for progress, which includes removing obstacles that hinder development and addressing long-standing issues in governance. Nine representatives, including top business leaders and academics, shared their thoughts on topics such as investing in new businesses, corporate governance, and improving the business environment. Xi encouraged the government to consider these ideas when formulating new policies. He stressed that reforms should address people's real needs and major challenges, including employment, income, education, healthcare, and housing. Xi also underscored the importance of adhering to fundamental principles, such as the leadership of the Communist Party and the path of socialism with Chinese characteristics, while remaining open to new and innovative reform ideas. The meeting exemplifies the CPC's approach of conducting thorough research and engaging with diverse stakeholders before making significant decisions, ensuring that reforms align with the people's aspirations for a better life.

Guangdong to Expand Nuclear Energy Sector: Guangdong province is set to boost its nuclear energy industry with new investment agreements worth 12.5 billion yuan ($1.74 billion). At a recent conference, more than 160 companies signed deals to work together on research and development, as well as investment. The conference, organized by the Guangdong Provincial Development and Reform Commission and China General Nuclear Power Group (CGN), aimed to help the nuclear power sector grow. Yang Changli, CGN's chairman, talked about the company's accomplishments, including using over 90 new technologies, with 19 of them breaking foreign monopolies. CGN, which is China's biggest nuclear power operator, has invested over 380 billion yuan in nuclear projects in Guangdong over the past 40 years. According to a report from Nanfang Daily, by 2060, Guangdong's nuclear power capacity is expected to be more than 60 million kilowatts, making up over 12% of the province's total power capacity. This growth is expected to attract over 2 trillion yuan in new investments, which will create significant opportunities for the industry. Guangdong has built three nuclear power bases, with four more under construction or approved. The province is leading China's nuclear power development, with a current installed capacity of 16.14 million kilowatts, accounting for over 28% of the national total. During the 14th Five-Year Plan period (2021-2025), Guangdong's nuclear power generation has been more than 120 billion kilowatt-hours annually, contributing about 16% of its total power generation.

Chiahung Su - Merging Tradition with Sustainable Fashion: Fashion designer Chiahung Su, a semi-finalist for the 2024 LVMH Prize, is making waves with his unique approach to fashion. Based in Old Taipei, Su's first boutique showcases his dedication to sustainable practices and traditional Taiwanese culture. The store, located in a historic 1930s building, includes dyeing rooms where Chinese herbs are used for natural dye tests. Su's fashion label is known for its unisex designs, featuring relaxed silhouettes and natural colours. His work emphasises reclaimed materials, ancestral techniques, and sustainable practices. The boutique's unconventional location reflects Su's commitment to integrating local culture into his brand. Collaborating with indigenous communities, Su uses traditional fibres and dyeing processes, creating bespoke textiles with raw materials from Taiwan. This slow fashion approach requires a specific production schedule but has garnered global attention, with Su's designs being stocked in high-end stores like Selfridges. Su's dedication to craft and sustainability has earned him recognition in the fashion industry. Despite the challenges of gaining global recognition as a designer from Taiwan, Su continues to promote Taiwanese culture through his innovative designs. His next collection will be showcased at Paris Fashion Week, further solidifying his impact on the global fashion scene.

HK Distributes HK$35M in Baby Bonuses, but Experts Urge Policy Shift for Higher Birth Rate: Hong Kong has disbursed over HK$35 million in baby bonuses since October, with more than 16,000 applications approved, according to Deputy Chief Secretary Warner Cheuk. However, experts suggest that boosting the birth rate requires policy changes reflecting evolving attitudes toward marriage and access to IVF treatments. The city's total fertility rate dropped to 701 live births per 1,000 women in 2022, signalling a negative population growth since 2020. Chief Executive John Lee Ka-chiu announced a one-off HK$20,000 "newborn baby bonus" for permanent residents as part of a three-year policy to encourage childbirth. Paul Yip Siu-fai, from the University of Hong Kong, highlighted a survey showing more women preferring delayed marriage and remaining child-free. Reasons included enjoying singlehood, financial independence, and difficulty finding suitable partners. Ernest Ng Hung-yu, a clinical professor, called for making IVF treatments more accessible under public healthcare and reducing waiting times. Ng emphasized the need for social media promotion to raise awareness about fertility treatments and simplify the referral process. The government views the baby bonus as a way to raise awareness and promote discussions about childbirth, though it may not directly increase birth rates. Experts advocate for a comprehensive population strategy that addresses obstacles to parenthood.

Zootopia-Themed Plane Joins China Eastern Airlines Fleet: China Eastern Airlines introduced its latest Disney-themed aircraft, the Disney Zootopia Express. This is the sixth Disney-themed plane to join their fleet, celebrating the opening of the world's first Zootopia-themed land at Shanghai Disney Resort. Joe Schott, president, and general manager of Shanghai Disney Resort expressed excitement about enhancing passengers' travel experiences with this new themed plane. The Disney Zootopia Express features three-dimensional images of characters from the popular movie "Zootopia" on its exterior. Inside, passengers will find themed luggage containers and fold-out trays with a map of Zootopia. Wan Qingchao, executive vice president of China Eastern Airlines, highlighted the ongoing eight-year partnership with Shanghai Disney Resort, which aims to bring joy, friendship, and trust to passengers' journeys. Passengers flying from Shanghai Hongqiao International Airport will enjoy additional surprises. These include over 30 new Zootopia-themed check-in counters and self-service kiosks, along with special commemorative boarding passes. The Zootopia-themed plane is set to make its first flight between Shanghai and Chengdu, promising a magical travel experience as part of Shanghai Disney Resort's efforts to attract more visitors.

SOCIAL MEDIA CHATTER IN CHINA

China's Tourism Trends- Technology and County-Level Travel on the Rise: In the realm of travel, China is witnessing a notable shift towards technology-driven experiences. The integration of 5G, virtual reality, and extended reality is revolutionising tourist attractions, with venues like Shougang Park and the Shanghai Astronomy Museum offering immersive experiences. During the recent May Day holiday, the launch of smart tourism venues attracted over 4.3 million visitors and generated 220 million yuan in revenue, signalling a growing appetite for tech-enhanced travel. County-level travel is also gaining popularity, especially among young travellers. Unique county-level destinations are gaining popularity on social media platforms like Xiaohongshu. These places offer a break from city life, allowing visitors to explore local specialties, find peace, and experience local traditions and cuisine. Looking ahead, the China Tourism Academy anticipates a significant increase in domestic travel. They expect over 6 billion trips and 6 trillion yuan in tourism income this year. This projection highlights the tourism industry's focus on improving and modernising to meet the evolving needs of travellers.

INDIA WATCH

India’s Suzuki Cars Find Efficient Route through China’s Comprehensive Bonded Zones: People’s Daily stated that China’s Comprehensive Bonded Zones (CBZs) are proving beneficial for global trade, especially for Indian-made Suzuki cars destined for Central and South America. Previously, Suzuki cars had to be routed through South Korea, which was a complicated and slow process. Now, there is a faster route through the Yangshan special CBZ in Shanghai. Recently, 2,687 Suzuki cars arrived in Shanghai and were stored in the CBZ. From there, 1,379 cars were sent to Guatemala, Mexico and Honduras, while the rest went to Chile and Nicaragua. Since May 2020, according to the People’s Daily, the Yangshan CBZ has been autonomously managing customs operations, positioning itself as a hub for pioneering trade methodologies. The busy shipping routes and frequent sailings from Shanghai ports have cut logistics costs by 12 percent and shipping times by 25 percent compared to the old routes. Overall, the article states that China's CBZs are setting a new standard for global logistics, demonstrating their capacity to streamline processes and reduce costs for international trade.

Prepared By

Kriti Rai

Kriti is an undergraduate student at FLAME University pursuing Data Science and Economics. She is proficient in C++, Python, MySQL, and data visualisation tools such as Tableau. Her areas of interest lie in building predictive models and utilising machine learning to enhance decision-making and tackle real-world challenges.