28th October 2024

NEWS IN CHINA

China Introduces New Policy Measures to Increase Birth Rate: The Chinese State Council has unveiled a new series of policies to help boost a rapidly falling birth rate. These policies are aimed at making society more conducive to having and raising children. They include measures such as fertility support services, strengthened education support, expanded child-care systems and policies towards employment and housing. This is part of China’s shift in relaxing its family planning policies in response to a change in demographics within the country. As the country with the second largest population in the world, China is facing a rapidly ageing population.
Chinese Central Bank Announces Launch of New Monetary Policy Tool: The People’s Bank of China (PBC), or its central bank, announced the introduction of a new monetary policy tool that would help maintain reasonable liquidity within the country’s banking system. This will be in the form of an outright open market reverse repo facility, which will conduct operations once a month, with tenors of less than a year. According to the China Securities Journal, this will strengthen cross-cyclical adjustments and improve liquidity management in the open market. With the launch of an outright reverse repo, the Chinese central bank will achieve greater flexibility in managing the bonds it purchases.
Chinese Vice Premier Welcomes Cooperation with Foreign Businesses: Chinese Vice Premier He Lifeng met with Ben Keswick, the executive chairman of Jardine Matheson in Beijing. He welcomed Keswick’s company, as well as other foreign enterprises to continue deepening cooperation with China which would achieve mutual benefits for all parties involved. Keswick spoke about Jardine Matheson’s optimistic view of China’s economic prospects and market potential, and expressed its willingness to expand investment and increase cooperation with China. He Lifeng said that this was a signifier of China’s deepened reform and opening up comprehensively, while fostering productive forces, leading to all-round development.
Xi Jinping Chairs Party Leadership Meeting to Review Disciplinary Inspection Report: Xi Jinping chaired a meeting of the Political Bureau of the Chinese Communist Party (CCP) Central Committee in order to review a disciplinary inspection report. The results of the report indicated that the state departments and the centrally administered financial institutions had been strengthened. Despite these new achievements, problems still existed in various areas. In order to rectify these issues, party committees at all levels were advised to strengthen political responsibility when conducting their duties and tasks, take effective and bold action to overcome any challenges and carry out reform with determination while guarding against risk in key areas. This information was provided in a statement after the meeting. The meeting further emphasized on maintaining an uncompromising stance against corruption and eradicating its root causes.
China Advocates for Like-Minded Countries to Join BRICS: Chinese Foreign Ministry spokesperson Lin Jian spoke about welcoming more like-minded partners into joining the BRICS, as it is an open and inclusive mechanism. This was in response to Indonesian Foreign Minister Sugiono’s comments in the previous week, expressing Indonesia’s commitment to joining the BRICS as it is a strategic platform to promote the interests of developing nations and the Global South. Lin supported the Indonesian cause by calling the country an emerging economy that has actively been involved in “BRICS plus” cooperation. Lin further stated that the BRICS mechanism has become a force of positivity and stability in international affairs.

SOCIAL MEDIA CHATTER

Tesla Protest Goes Viral: Man Pulls Faulty Car with Ox, Slams Guazi for 'Fraud': In Weifang, Shandong Province, a man who was outraged to find that the second hand Tesla he had bought failed to charge, and in response staged a protest against Guazi, the second-hand car company he purchased it from. His unique form of protest was caught on video by curious passersby, and it went viral on various Chinese social media platforms. The video shows an ox tied to the car, slowly pulling it down the street, as the body of the Tesla is spray painted with words like “fraud” and “deceived by Guazi.” The man later parked the car in front of a Guazi showroom. Netizens responded to the bizarre video by saying that if it is the buyers’ responsibility to assess the condition of the car and take on the associated risks, then what is the point of Guazi as a platform?. People online also targeted Guazi by saying that they charged the man too high a price for a car that cannot be charged and is scrap.

INDIA WATCH

The Strategic Significance of the Timing of the India-China Border Resolution: A Global Times opinion editorial explored the strategic significance of recent developments within India-China relations, namely the recent resolution reached on the issues concerning the countries’ border areas. The piece picked up on Indian Express’ report of remarks made by, S. Jaishankar, the Indian Minister of External Affairs, as he responded to a question from students by stating that it is still early for the normalization of relations between China and India. He further spoke about the need to rebuild trust and willingness to cooperate, which would naturally take time for the two countries. According to the author, this sentiment is echoed by officials and media outlets from both sides, categorizing the border resolution as merely a first step to a series of challenges ahead in the process of fostering mutual trust. Further, the author writes that these resolutions reflect more than just border management protocol, as they signal a larger shift in regional dynamics, particularly in the context of developing nations seeking strategic autonomy in an evolving global landscape. In this way, the opinion piece claims that the timing of the border resolution is particularly significant, as it occurs in the backdrop of the West’s continued use of tumultuous Sino-India relations to further trigger regional tensions. The piece concludes with the idea that the border resolution is a reflection of an increasingly multipolar world, where Asian geopolitics has shifted towards a more autonomous and balanced future.

Prepared By

Veda Jain

Veda Jain is currently a third-year student at Flame University, majoring in International Studies and minoring in Literary and Cultural Studies. She has a strong interest in modern Chinese politics and is keen on analyzing the dynamics of Indo-China relations.