https://www.scmp.com/rss/514919/feed Two Sessions refers to China's annual parliamentary meetings, where the two main political bodies of China - the National People's Congress (NPC) and the National Committee of the Chinese People's Political Consultative Conference (CPPCC) - reveal plans for China's policies involving the economy, military, trade, diplomacy, the environment and more. This year’s event will be the first after China dropped its three-year-old Covid-19 restrictions. It will see a major reshuffle of top government... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com China’s Communist Party will directly oversee science and technology with the creation of a central commission as part of a plan to counter US-led attempts to contain development of Chinese technology. Under the plan, released by the party’s Central Committee and the State Council on Thursday, the commission will improve the party’s “centralised and unified leadership” of “science and technology work”. The commission will coordinate and promote the creation of a “national innovation system”,... https://www.scmp.com/news/china/science/article/3213939/chinas-communist-party-take-science-and-tech-reins-break-through-us-containment?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3213939/chinas-communist-party-take-science-and-tech-reins-break-through-us-containment?utm_source=rss_feed Fri, 17 Mar 2023 14:30:09 +0000 The chances for high-level military discussions between the United States and China in the near future appeared unlikely as Washington showed no indication it would remove China’s new defence minister from a sanctions list, analysts said. Lifting the sanctions on General Li Shangfu is considered a necessary step by Beijing for such talks to resume between the Pentagon and the People’s Liberation Army (PLA), but that appeared doubtful, according to Zhou Bo, a senior fellow from the Centre for... https://www.scmp.com/news/china/diplomacy/article/3213398/are-us-sanctions-chinas-new-defence-chief-real-barrier-dialogue?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3213398/are-us-sanctions-chinas-new-defence-chief-real-barrier-dialogue?utm_source=rss_feed Tue, 14 Mar 2023 10:00:23 +0000 Beijing has shown a cautious stance on Taiwan policy throughout its annual parliamentary sessions, trying to play down speculation that the island would become the next Ukraine as cross-strait tensions rise. China will actively promote the “peaceful development” of cross-strait relations, President Xi Jinping told the nation’s top legislature on Monday, days after securing an unprecedented third term. External interference and separatist “Taiwan independence” activities would be resolutely... https://www.scmp.com/news/china/politics/article/3213403/china-two-sessions-2023-xi-jinping-vows-peaceful-taiwan-ties-caution-marks-cross-strait-tone-beijing?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3213403/china-two-sessions-2023-xi-jinping-vows-peaceful-taiwan-ties-caution-marks-cross-strait-tone-beijing?utm_source=rss_feed Mon, 13 Mar 2023 13:48:17 +0000 While China’s new premier, Li Qiang, devoted limited time to foreign affairs in his first press conference after taking office, he did single out the destructive economic effects of a decoupling from the United States. In the traditional media event on Monday at the close of the “two sessions” parliamentary meetings in Beijing, Li took only one question on foreign affairs – from a reporter from the Dubai-based China Arab TV. It was a striking contrast to his predecessor Li Keqiang, who usually... https://www.scmp.com/news/china/diplomacy/article/3213363/chinas-two-sessions-li-qiang-takes-one-foreign-affairs-question-us-china-decoupling?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3213363/chinas-two-sessions-li-qiang-takes-one-foreign-affairs-question-us-china-decoupling?utm_source=rss_feed Mon, 13 Mar 2023 09:22:42 +0000 As a foreign-educated economist who once had tenure as a distinguished professor at a US university, Yi Gang cuts a distinct figure among China’s army of beige bureaucrats. And he has unexpectedly secured a second five-year term as head of the central bank, extending his leadership role despite having reached retirement age this year. This gives him the chance to serve longer than usual, and it is particularly eye-catching given that the country has ushered in a mostly new administration under... https://www.scmp.com/economy/china-economy/article/3213245/who-chinese-economist-yi-gang-us-educated-governor-peoples-bank-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3213245/who-chinese-economist-yi-gang-us-educated-governor-peoples-bank-china?utm_source=rss_feed Sun, 12 Mar 2023 07:00:55 +0000 China’s legislature has kept the leading roles at the central bank and the Ministry of Finance unchanged, retaining two key members of the new government’s economic hierarchy as the country looks to double down on curbing stubborn financial risks and technological bottlenecks during President Xi Jinping’s third five-year term. And the retention of the two senior officials, Yi Gang and Liu Kun – both of whom are past retirement age and no longer members of the Communist Party’s elite Central... https://www.scmp.com/economy/china-economy/article/3213235/chinas-two-sessions-central-bank-and-finance-chiefs-retain-spots-cabinet-shake?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3213235/chinas-two-sessions-central-bank-and-finance-chiefs-retain-spots-cabinet-shake?utm_source=rss_feed Sun, 12 Mar 2023 02:52:11 +0000 Global Impact is a weekly curated newsletter featuring a news topic originating in China with a significant macro impact for our newsreaders around the world. Sign up now! It is never boring for a China watcher to observe the “two sessions”, one of the most important events on Beijing’s political calendar. This year, a sense of urgency has surfaced to spearhead technological development and guard against economic headwinds. With Xi Jinping starting a norm-breaking third term as the leader of the... https://www.scmp.com/economy/article/3213087/global-impact-what-did-we-learn-chinas-two-sessions-so-far?utm_source=rss_feed https://www.scmp.com/economy/article/3213087/global-impact-what-did-we-learn-chinas-two-sessions-so-far?utm_source=rss_feed Sat, 11 Mar 2023 22:30:09 +0000 China is developing a record-breaking dredger 50 per cent more powerful than its existing “super island builder”, the project’s chief engineer said. The new self-propelled suction dredger being developed will feature a 10,000kW reamer, the first in the world, according to Qin Bin, chief engineer of the Tianjin Waterway Bureau, a subsidiary of the state-owned China Communications Construction Company (CCCC). In comparison, its predecessor the Tian Jing – the main vessel involved in building... https://www.scmp.com/news/china/diplomacy/article/3213206/china-develops-dredger-more-powerful-artificial-island-builder-south-china-sea?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3213206/china-develops-dredger-more-powerful-artificial-island-builder-south-china-sea?utm_source=rss_feed Sat, 11 Mar 2023 22:00:17 +0000 China should speed up the development of its own ChatGPT-like language models to benefit industry and the public alike, a top Chinese legislator has urged. Hailing large language products as “likely the biggest leap in artificial intelligence technology”, Liu Qingfeng, founder and chairman of voice recognition firm iFlytek, said China’s cognitive intelligence models still lagged considerably behind the best chatbots in the world. Given the enormous industrial opportunities and vast social... https://www.scmp.com/news/china/science/article/3213197/china-playing-catch-chatgpt-world-chinese-lawmaker-says?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3213197/china-playing-catch-chatgpt-world-chinese-lawmaker-says?utm_source=rss_feed Sat, 11 Mar 2023 12:30:10 +0000 The National People’s Congress (NPC), China’s top legislature, announced it has filled key positions in the country’s top prosecutor’s office, its highest court and a leading anti-corruption agency. Ying Yong, vice-director of the NPC’s Constitution and Law Committee and deputy procurator-general of the Supreme People’s Procuratorate, was selected to take over as procurator-general on Saturday during the annual meeting of the legislature. Ying, 65, gained attention in 2020 as the Communist Party... https://www.scmp.com/news/china/politics/article/3213194/chinas-two-sessions-2023-beijing-fills-top-prosecutor-judge-and-anti-corruption-positions?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3213194/chinas-two-sessions-2023-beijing-fills-top-prosecutor-judge-and-anti-corruption-positions?utm_source=rss_feed Sat, 11 Mar 2023 09:33:19 +0000 Li Qiang, a long-time aide of President Xi Jinping, was confirmed as China’s premier – its No 2 official – on Saturday with a resounding vote from members of the National People’s Congress (NPC), the country’s top legislature. He was endorsed by 2,936 of the 2,947 NPC members who attended Saturday’s meeting, with three voting against and eight abstaining. Xi and Li chatted before and after the vote, which also approved appointments to the country’s top supervision job as well as its top judge... https://www.scmp.com/economy/china-economy/article/3213174/li-qiang-chinas-new-premier-how-much-power-will-he-wield?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3213174/li-qiang-chinas-new-premier-how-much-power-will-he-wield?utm_source=rss_feed Sat, 11 Mar 2023 03:30:29 +0000 China has a closing window of opportunity to reform its antiquated restrictions on retirement and rural mobility, according to policy influencers who are concerned about the nation’s failure to better tap into its “demographic dividend” and address an urgent need to cultivate a larger working-age cohort to support fewer retirees. A widening demographic imbalance – resulting from a low birth rate combined with a rapidly ageing population – continues to plague the world’s second-largest economy,... https://www.scmp.com/economy/china-economy/article/3212983/china-population-shrinking-workforce-chipping-away-nations-demographic-dividend-so-where-are-new?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212983/china-population-shrinking-workforce-chipping-away-nations-demographic-dividend-so-where-are-new?utm_source=rss_feed Thu, 09 Mar 2023 15:00:12 +0000 China’s moderate economic growth target for 2023 sets the tone for more debt-control measures among local governments amid a growing chorus of concerns over default risks and uncertainties surrounding China’s economic recovery, according to analysts. Premier Li Keqiang’s final work report to the annual National People’s Congress (NPC) on Sunday highlighted the heightened risks from monetary debt at local levels of government across the country. And while calling for the curtailing of incremental... https://www.scmp.com/economy/china-economy/article/3212834/chinas-two-sessions-2023-how-debt-saddled-local-governments-underscore-beijings-moderate-gdp-target?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212834/chinas-two-sessions-2023-how-debt-saddled-local-governments-underscore-beijings-moderate-gdp-target?utm_source=rss_feed Wed, 08 Mar 2023 17:00:23 +0000 Economic uncertainty and concerns over transparency in China’s philanthropic sector have left many private business owners hesitant to answer President Xi Jinping’s call to support his signature initiative to reduce income inequality. On Monday, at a meeting with private sector representatives during the “two sessions”, Xi urged entrepreneurs to give to charity and “share the fruits of growth” with employees as part of his “common prosperity” drive. Private firms should “have a sense of... https://www.scmp.com/economy/china-economy/article/3212807/chinas-two-sessions-2023-xi-jinpings-call-common-prosperity-risks-going-unanswered-covid-weary?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212807/chinas-two-sessions-2023-xi-jinpings-call-common-prosperity-risks-going-unanswered-covid-weary?utm_source=rss_feed Wed, 08 Mar 2023 14:00:15 +0000 China is “open” to a visit by US Secretary of Commerce Gina Raimondo amid deteriorating relations between Beijing and Washington as it remains “very important” for the two sides to maintain communication over trade. Responding to media reports that Raimondo is considering a visit to China this year, the Ministry of Commerce said it has yet to receive a proposal from Washington. “We believe that it is very important for the commerce departments of the two sides to maintain dialogue and... https://www.scmp.com/economy/global-economy/article/3212835/china-open-visit-us-commerce-chief-gina-raimondo-trade-ties-very-important-despite-tensions?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3212835/china-open-visit-us-commerce-chief-gina-raimondo-trade-ties-very-important-despite-tensions?utm_source=rss_feed Wed, 08 Mar 2023 12:00:21 +0000 An increasingly challenging security environment has prompted countries in the Asia-Pacific region to jack up their military spending this year, with observers expecting the build-up to gather pace. China joined the growing list of nations to bump up their defence budgets with a 7.2 per cent increase in its military expenditure – the fastest pace in four years – to about 1.55 trillion yuan (US$224.3 billion) for 2023. Announcing the budget increase on Sunday at the “two sessions” – the annual... https://www.scmp.com/news/china/military/article/3212624/chinas-two-sessions-2023-asia-pacific-uncertainties-drive-arms-build?utm_source=rss_feed https://www.scmp.com/news/china/military/article/3212624/chinas-two-sessions-2023-asia-pacific-uncertainties-drive-arms-build?utm_source=rss_feed Wed, 08 Mar 2023 04:00:13 +0000 President Xi Jinping told private entrepreneurs and business representatives that they should “eliminate worries” and “lay down burdens” in their business development, calling them “one of us” at a high-profile conference on Monday. It marked a sharp contrast to previous government endeavours to curb the disorderly expansion of capital, and it may herald a more supportive stance throughout Xi’s norm-breaking third term, especially with his most pro-business aide, Li Qiang, expected to take the... https://www.scmp.com/economy/china-economy/article/3212706/one-us-president-xi-hails-role-private-business-china-wary-say-actions-speak-louder-words?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212706/one-us-president-xi-hails-role-private-business-china-wary-say-actions-speak-louder-words?utm_source=rss_feed Wed, 08 Mar 2023 01:00:18 +0000 There will be catastrophic consequences if the US fails to “hit the brakes” and allows the relationship with China to continue to go downhill, Chinese Foreign Minister Qin Gang warned on Tuesday. His comments, during his first press conference in his new role, left many observers with the impression that hopes for a quick rapprochement between the two global powers were fading. Qin tried to blame the US for a wide range of problems the world is facing – accusing it of undermining efforts to end... https://www.scmp.com/news/china/diplomacy/article/3212720/chinese-foreign-minister-qin-gang-tells-us-hit-brakes-relations-continue-deteriorate?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3212720/chinese-foreign-minister-qin-gang-tells-us-hit-brakes-relations-continue-deteriorate?utm_source=rss_feed Tue, 07 Mar 2023 14:57:40 +0000 China’s growth model offers developing countries an alternative to the Western version, Foreign Minister Qin Gang said at his first press conference in his new role on Tuesday. China’s development had “shattered the myth that modernisation is Westernisation”, Qin said, as he pledged that Beijing would focus more on ties with the developing world. “Chinese modernisation [is not] pursued through war, colonisation or plunder,” he said. “It is a new path, different [from] Western modernisation. “It... https://www.scmp.com/news/china/diplomacy/article/3212712/chinas-two-sessions-chinese-development-shatters-modern-western-myth-foreign-minister-qin-gang-says?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3212712/chinas-two-sessions-chinese-development-shatters-modern-western-myth-foreign-minister-qin-gang-says?utm_source=rss_feed Tue, 07 Mar 2023 13:50:20 +0000 China’s new foreign minister, Qin Gang, lashed out at Japan on Tuesday over its biggest military build-up since World War II, accusing Tokyo of helping Washington in its new cold war against Beijing. In contrast to his otherwise tempered tone at his debut press conference on the sidelines of the National People’s Congress, Qin slammed the United States for its “hysterical neo-McCarthyism” to contain and suppress China and berated Japan for failing to learn from history. While his sharp criticism... https://www.scmp.com/news/china/diplomacy/article/3212686/china-berates-japan-over-massive-military-expansion-plans?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3212686/china-berates-japan-over-massive-military-expansion-plans?utm_source=rss_feed Tue, 07 Mar 2023 13:00:16 +0000 Qin Gang’s reputation for being both “tough” and “measured” in different phases of his diplomatic career has left international observers wondering whether his recent appointment as China’s foreign minister is a sign of a shift in the country’s diplomacy. On Tuesday the former ambassador to the United States gave his first press conference since taking up his new role at the “two sessions”, the country’s biggest political event of the year. When asked if China’s “Wolf Warrior” diplomacy – named... https://www.scmp.com/news/china/diplomacy/article/3212708/chinas-new-foreign-minister-promises-tough-approach-jackals-and-wolves-outside-world-hints-softer?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3212708/chinas-new-foreign-minister-promises-tough-approach-jackals-and-wolves-outside-world-hints-softer?utm_source=rss_feed Tue, 07 Mar 2023 12:48:39 +0000 China signalled more currency cooperation with Russia and applauded its exemplary relations with Moscow on Tuesday, as it accused the United States of escalating the war in Ukraine. “Safe and credible” currency would be used in China’s trade with Russia, Foreign Minister Qin Gang said, when asked during his first press conference on the sidelines of the National People’s Congress if the two countries would abandon the US dollar or Euro. China to set up super financial oversight body to tackle... https://www.scmp.com/news/china/diplomacy/article/3212695/china-hints-more-safe-and-credible-currency-cooperation-russia?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3212695/china-hints-more-safe-and-credible-currency-cooperation-russia?utm_source=rss_feed Tue, 07 Mar 2023 12:30:17 +0000 Chinese Foreign Minister Qin Gang has demanded the United States explain its plans for the “destruction of Taiwan”, warning that any mishandling of issues related to the self-ruled island would shake the foundation of China-US relations. Qin, speaking on Tuesday in his first press conference as China’s foreign minister, brought with him a copy of the nation’s constitution – an unusual gesture to emphasise the country’s firm determination for reunification. “The resolution of the Taiwan question... https://www.scmp.com/news/china/diplomacy/article/3212670/chinas-two-sessions-2023-foreign-minister-qin-gang-demands-us-explain-destruction-taiwan-plans?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3212670/chinas-two-sessions-2023-foreign-minister-qin-gang-demands-us-explain-destruction-taiwan-plans?utm_source=rss_feed Tue, 07 Mar 2023 10:30:12 +0000 China said on Tuesday it would establish a super regulatory body to oversee the country’s 400 trillion yuan (US$57.7 trillion) worth of banking and insurance assets, part of a sweeping reform plan Beijing hopes will strengthen capabilities to control risks and counter external headwinds. The new National Financial Regulatory Commission will incorporate the China Banking and Insurance Regulatory Commission and absorb the central bank’s supervisory body for financial holding companies and the... https://www.scmp.com/economy/china-economy/article/3212683/chinas-two-sessions-2023-beijing-announces-super-regulatory-body-tackle-long-standing-financial-risk?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212683/chinas-two-sessions-2023-beijing-announces-super-regulatory-body-tackle-long-standing-financial-risk?utm_source=rss_feed Tue, 07 Mar 2023 09:56:10 +0000 Southeast Asia stands to gain from China’s economic development, Chinese Foreign Minister Qin Gang said on Tuesday, while dismissing regional concerns over the country’s slowing economy. In his first press conference since succeeding Wang Yi in the role two months ago, Qin also stressed that the region should not be treated as a “chessboard for geopolitical contest”. “Some are concerned about China’s economic outlook. I think that’s quite unnecessary,” Qin said, noting that international... https://www.scmp.com/news/china/diplomacy/article/3212637/chinas-two-sessions-qin-gang-urges-asia-go-growth-not-power-games?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3212637/chinas-two-sessions-qin-gang-urges-asia-go-growth-not-power-games?utm_source=rss_feed Tue, 07 Mar 2023 09:00:12 +0000 Chinese President Xi Jinping has directly accused the United States of leading other Western nations to suppress China’s development. Xi’s remarks are a rare example of a Chinese leader singling out Washington, and are the latest sign of frustration by the Chinese leadership about the state of China-US relations. “Western countries, led by the United States, have implemented all-round containment and suppression of China, which has brought unprecedented severe challenges to the country’s... https://www.scmp.com/news/china/diplomacy/article/3212627/chinas-two-sessions-2023-xi-jinping-directly-accuses-us-leading-western-suppression-china?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3212627/chinas-two-sessions-2023-xi-jinping-directly-accuses-us-leading-western-suppression-china?utm_source=rss_feed Tue, 07 Mar 2023 06:30:15 +0000 This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing and get 25 per cent off an annual plan. Promoted two months ago, Qin Gang is holding his first annual press conference as foreign minister at this year’s “two sessions”. He picked up the baton passed by his predecessor Wang Yi, who held the position for nearly a decade and has been promoted to be director of the Office of the Central Foreign Affairs... https://www.scmp.com/news/china/diplomacy/article/3212593/chinas-two-sessions-2023-foreign-minister-qin-gang-makes-his-npc-media-debut?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3212593/chinas-two-sessions-2023-foreign-minister-qin-gang-makes-his-npc-media-debut?utm_source=rss_feed Tue, 07 Mar 2023 01:46:13 +0000 China should provide its postgraduate and doctoral students with “reasonable” financial and policy support if they desire to get married and have children while in school, a delegate proposed at a parliamentary gathering that started on Sunday, highlighting how concerns about the nation’s deepening demographic crisis are prompting fresh policy proposals. He Dan, director of the China Population And Development Research Centre, said maternity insurance should cover college students, and that the... https://www.scmp.com/economy/china-economy/article/3212554/chinas-heavily-educated-should-be-incentivised-make-babies-delegate-urges-proposal-help?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212554/chinas-heavily-educated-should-be-incentivised-make-babies-delegate-urges-proposal-help?utm_source=rss_feed Mon, 06 Mar 2023 23:00:12 +0000 The surveillance balloon incident raises serious concerns about China’s military intentions towards the United States. But it raises equally troubling issues about the competence of China’s military intelligence services and their apparent lack of coordination with other elements of the Chinese party-state. In that light, it is intriguing that an unusual and important new “faction” has emerged at the top of China’s political system: military-industrial technocrats. As research by the Asia... https://www.scmp.com/comment/opinion/article/3212374/rise-chinas-military-industrial-leaders-will-heat-race-against-us?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3212374/rise-chinas-military-industrial-leaders-will-heat-race-against-us?utm_source=rss_feed Mon, 06 Mar 2023 17:00:12 +0000 China’s defence industry will shift gear from big hardware projects to developing core technology, driven in part by lessons learned from the war in Ukraine, according to analysts. Observers said the war exposed a series of weaknesses in Russia’s Soviet-designed weapons, equipment and military doctrines – approaches the People’s Liberation Army inherited. “The ongoing confrontations and tensions between China and the United States also reminded Beijing of the urgency of keeping scientific... https://www.scmp.com/news/china/military/article/3212562/chinas-military-refocus-rd-after-decade-long-hardware-drive-analysts?utm_source=rss_feed https://www.scmp.com/news/china/military/article/3212562/chinas-military-refocus-rd-after-decade-long-hardware-drive-analysts?utm_source=rss_feed Mon, 06 Mar 2023 14:30:08 +0000 The People’s Liberation Army (PLA) should strengthen its study of urban combat, a military deputy to China’s top legislative body has said, in a clear reference to preparations for seizing Taiwan – the self-run island regarded as breakaway territory by Beijing. The Chinese military should “speedily improve its strategic capability” to realise national reunification, PLA lieutenant general Ma Yiming told a panel on the sidelines of the National People’s Congress (NPC), the annual full session of... https://www.scmp.com/news/china/military/article/3212572/china-two-sessions-taiwan-reference-seen-pla-brass-calls-focus-urban-operations?utm_source=rss_feed https://www.scmp.com/news/china/military/article/3212572/china-two-sessions-taiwan-reference-seen-pla-brass-calls-focus-urban-operations?utm_source=rss_feed Mon, 06 Mar 2023 14:07:47 +0000 China has pledged to boost the budget for its grain reserves this year as the government doubles down on food security amid global market uncertainty. The central government will increase spending on reserves of grain, including oilseeds, by 13.6 per cent, according to a draft budget report released by the Ministry of Finance on Sunday. Expenditure is projected to total nearly 132.9 billion yuan (US$19.2 billion) in 2023, up from 113.6 billion yuan last year. Spending on food reserves ranged... https://www.scmp.com/economy/china-economy/article/3212519/china-food-security-budget-grain-reserves-grows-136-cent-amid-self-sufficiency-push?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212519/china-food-security-budget-grain-reserves-grows-136-cent-amid-self-sufficiency-push?utm_source=rss_feed Mon, 06 Mar 2023 14:00:09 +0000 Coal is likely to be at the core of China’s energy infrastructure to ensure its energy security, the Chinese government implied in its annual work report, although Beijing will continue to push the installation of renewable energy sources to support the country’s carbon-neutral goals. The research and development of clean and efficient use of coal will be one of the Chinese government’s key tasks for 2023, according to the government work report presented by Chinese Premier Li Keqiang at the... https://www.scmp.com/business/china-business/article/3212539/two-sessions-coal-core-chinas-power-infrastructure-even-beijing-pushes-clean-energy-use-government?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3212539/two-sessions-coal-core-chinas-power-infrastructure-even-beijing-pushes-clean-energy-use-government?utm_source=rss_feed Mon, 06 Mar 2023 11:00:21 +0000 China’s plans to use science and technology to energise its economic growth will be underpinned by basic research and development, the two ministers responsible for drafting the policy have confirmed. Wang Zhigang, science and technology minister, and his industry and IT counterpart Jin Zhuanglong, fleshed out the new priorities in an interview after the opening ceremony of the 14th National People’s Congress. In the interview, published by state news agency Xinhua, Wang said basic research was... https://www.scmp.com/news/china/science/article/3212492/chinas-two-sessions-basic-research-fuel-science-led-recovery?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3212492/chinas-two-sessions-basic-research-fuel-science-led-recovery?utm_source=rss_feed Mon, 06 Mar 2023 07:00:15 +0000 China will try to revive confidence in its Covid-hit private sector, with the top economic planner saying on Sunday that the country would protect the rights of businesses. In an annual report delivered to the national legislature, the National Development (NDRC) and Reform Commission said it would support growth in the sector. “Market expectations are not yet firm,” the NDRC said. “[The country will] protect the property rights of private enterprises and the interests of entrepreneurs in... https://www.scmp.com/economy/china-economy/article/3212430/two-sessions-2023-china-looks-revive-confidence-covid-hit-private-sector?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212430/two-sessions-2023-china-looks-revive-confidence-covid-hit-private-sector?utm_source=rss_feed Mon, 06 Mar 2023 04:00:19 +0000 While acknowledging that external demand will be relatively weak this year, Beijing is sending strong signals that it intends to better integrate into global trade while steadfastly vowing to enhance China’s appeal to foreign investors. Leadership also still has its sights set on China joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a high-end trade and investment pact, in line with efforts to counter challenges resulting from external containment... https://www.scmp.com/economy/china-economy/article/3212438/chinas-two-sessions-2023-outgoing-premier-vows-even-greater-business-opportunities-foreign?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212438/chinas-two-sessions-2023-outgoing-premier-vows-even-greater-business-opportunities-foreign?utm_source=rss_feed Mon, 06 Mar 2023 01:00:23 +0000 Since its inception in 1921, China’s Communist Party has lurched between ultra-left radicalism and pragmatism, bringing about alternating tragedies and triumphs. In the first 30 years of the People’s Republic, Mao Zedong’s erroneous emphasis on ideology and class struggle, fanned by ultra-leftist nationalism, produced catastrophic consequences. In the late 1970s, Deng Xiaoping ended the disastrous Cultural Revolution and adopted an open-door policy, which put China on the track of reform and... https://www.scmp.com/comment/opinion/article/3212110/xis-chinese-dream-danger-being-hijacked-ultra-left-nationalism?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3212110/xis-chinese-dream-danger-being-hijacked-ultra-left-nationalism?utm_source=rss_feed Sun, 05 Mar 2023 17:00:13 +0000 Beijing aims to balance economic growth with risk management this year as it shakes off three years of pandemic controls and mounting challenges at home and abroad. That was the message Premier Li Keqiang sent on Sunday when he delivered the annual government report to the National People’s Congress (NPC). “We are giving priority to ensuring stable growth, employment, and prices, to realise a steady economic recovery,” Li said, presenting his last report as premier and the first of Xi’s third... https://www.scmp.com/news/china/politics/article/3212442/chinas-two-sessions-2023-premier-li-keqiang-bows-out-appeal-economic-recovery?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3212442/chinas-two-sessions-2023-premier-li-keqiang-bows-out-appeal-economic-recovery?utm_source=rss_feed Sun, 05 Mar 2023 15:00:08 +0000 In gauging how China’s economy will fare this year, Beijing has set a relatively moderate growth target that will allow for more leeway to focus on resolving long-term challenges facing the world’s second-largest economy, according to analysts. They point to a number of stubborn issues facing China’s incoming economic leadership, including weak confidence in the private sector, curtailed household consumption, technological bottlenecks and the need to plan to counter long-term obstacles. The... https://www.scmp.com/economy/china-economy/article/3212426/china-2023-gdp-why-beijing-set-moderate-target-and-what-it-signifies-economic-growth?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212426/china-2023-gdp-why-beijing-set-moderate-target-and-what-it-signifies-economic-growth?utm_source=rss_feed Sun, 05 Mar 2023 13:00:13 +0000 China’s central government will increase spending on science and technology by 2 per cent this year, amid a years-long drive by the United States to contain the development of Chinese technology. On Thursday, the Biden administration announced export restrictions for dozens of Chinese entities, including genome research organisation BGI Research and BGI Tech Solutions (Hongkong) over allegations that their collection and analysis of genetic data posed a “significant risk of contributing to... https://www.scmp.com/news/china/science/article/3212432/chinas-two-sessions-2023-2-cent-budget-boost-science-and-technology?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3212432/chinas-two-sessions-2023-2-cent-budget-boost-science-and-technology?utm_source=rss_feed Sun, 05 Mar 2023 12:00:15 +0000 China will increase its defence budget to boost combat readiness while also striving to maintain friendly overseas ties, its top legislative assembly heard on Sunday. Funding for the People’s Liberation Army will increase by 7.2 per cent to about 1.55 trillion yuan (US$224.3 billion), after a 7.1 per cent hike last year, according to the government budget tabled at the opening session of the annual National People’s Congress. While the defence spending was in line with analysts’ expectations,... https://www.scmp.com/news/china/diplomacy/article/3212421/china-two-sessions-pla-budget-set-top-us224-billion-focus-peaceful-foreign-policy-remains?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3212421/china-two-sessions-pla-budget-set-top-us224-billion-focus-peaceful-foreign-policy-remains?utm_source=rss_feed Sun, 05 Mar 2023 10:35:09 +0000 Beijing will ramp up efforts to restore exchanges and economic ties with Taiwan, with Premier Li Keqiang taking a conciliatory tone on the island as he delivered the government work report on Sunday. Li reiterated that Beijing would take resolute steps to oppose “Taiwan independence” and promote “reunification” with the island. “As we Chinese on both sides of the Taiwan Strait are one family bound by blood, we should advance economic and cultural exchanges and cooperation … and improve the... https://www.scmp.com/news/china/politics/article/3212412/beijing-takes-conciliatory-tone-taiwan-call-advance-exchanges?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3212412/beijing-takes-conciliatory-tone-taiwan-call-advance-exchanges?utm_source=rss_feed Sun, 05 Mar 2023 06:51:47 +0000 This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing and get 25 per cent off an annual plan. China’s top legislature, the National People’s Congress (NPC), opens its annual meeting on Sunday. The NPC meeting is part of the “two sessions” and is an important window into the central government’s policies on areas from the economy and trade, to diplomacy and science and technology. The gathering this year caps a... https://www.scmp.com/news/china/politics/article/3212354/two-sessions-2023-chinas-leadership-transition-national-peoples-congress?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3212354/two-sessions-2023-chinas-leadership-transition-national-peoples-congress?utm_source=rss_feed Sun, 05 Mar 2023 00:45:58 +0000 China’s vice-premier Hu Chunhua, who left the Communist Party Politburo last year, has been confirmed in a new advisory role at the start of the country’s biggest political event of the year. Hu was one of the 11 executive chairs named to the presidium of the Chinese People’s Political Consultative Conference on Friday and is expected to become one of the CPPCC vice-chairs. The move follows a leadership reshuffle at the Communist Party’s national congress in October. Wang Huning, who was... https://www.scmp.com/news/china/politics/article/3212371/former-chinese-political-high-flyer-takes-new-ceremonial-role-after-losing-seat-politburo?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3212371/former-chinese-political-high-flyer-takes-new-ceremonial-role-after-losing-seat-politburo?utm_source=rss_feed Sat, 04 Mar 2023 12:37:36 +0000 China will use legal means to counter the impact of foreign sanctions, according to a spokesman for the country’s legislature. Wang Chao, a spokesman for the National People’s Congress, said on Saturday that the parliament has already started working on foreign policy legislation. Beijing is focusing more on international legal studies to advance its interests internationally as it comes under increasing sanctions pressure from the United States and Europe. The US is reportedly working with its... https://www.scmp.com/news/china/diplomacy/article/3212362/chinas-two-sessions-2023-new-laws-counter-foreign-sanctions-planned?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3212362/chinas-two-sessions-2023-new-laws-counter-foreign-sanctions-planned?utm_source=rss_feed Sat, 04 Mar 2023 10:01:48 +0000 All manner of measures to revive China’s economy this year will come under the spotlight for the next several days. After nearly three years of pandemic disruptions, compounded by worsening geopolitical tensions, delegates appearing at the annual “two sessions” assembly are expected to submit multiple proposals about protecting China’s private sector. Starting on Saturday, this year’s annual meetings of the legislature and political advisory body will complete a twice-a-decade leadership... https://www.scmp.com/economy/china-economy/article/3212299/chinas-two-sessions-2023-private-economy-prime-time-party-tries-pump-confidence?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212299/chinas-two-sessions-2023-private-economy-prime-time-party-tries-pump-confidence?utm_source=rss_feed Fri, 03 Mar 2023 23:30:11 +0000 This year’s “two sessions” – the annual meetings of the legislature and political advisory body – begin on Saturday and will complete a twice-a-decade leadership transition, with a reshuffle of top government jobs including the premier, and Xi Jinping set to secure a third term as president. In the fourth of a six-part series on what to expect from this key event, Mandy Zuo and He Huifeng look at China’s economic outlook for the year ahead. For Raymond Zhang, a Shanghai resident who works in the... https://www.scmp.com/economy/china-economy/article/3212111/chinas-two-sessions-2023-all-eyes-beijing-lawmakers-plot-post-pandemic-economic-recovery?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3212111/chinas-two-sessions-2023-all-eyes-beijing-lawmakers-plot-post-pandemic-economic-recovery?utm_source=rss_feed Thu, 02 Mar 2023 22:00:15 +0000 This year’s “two sessions” – the annual meetings of the legislature and political advisory body – begin on Saturday and will complete a twice-a-decade leadership transition, with a reshuffle of top government jobs including the premier, and Xi Jinping set to secure a third term as president. In the third of a six-part series on what to expect from this key event, Frank Tang and Daniel Ren look at the rapid political rise of Li Qiang. With Li Qiang poised to take the premiership baton that will... https://www.scmp.com/economy/china-economy/article/3211953/chinas-two-sessions-2023-how-will-li-qiangs-pro-business-past-and-pragmatism-help-tackle-chinas?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3211953/chinas-two-sessions-2023-how-will-li-qiangs-pro-business-past-and-pragmatism-help-tackle-chinas?utm_source=rss_feed Wed, 01 Mar 2023 22:00:11 +0000 China is walking into a demographic crisis that is unprecedented in speed and scale. The country’s population started to shrink last year as the national birth rate fell to a record low, while the number of elderly continues to climb. That situation not only threatens to overburden the healthcare infrastructure and puts the pension system at risk, but it also poses a challenge to China’s economic ambitions. The central government, however, has yet to respond with a coherent and effective... https://www.scmp.com/news/china/article/3211712/chinas-deepening-demographic-crisis-calls-stronger-more-coherent-course-action-beijing?utm_source=rss_feed https://www.scmp.com/news/china/article/3211712/chinas-deepening-demographic-crisis-calls-stronger-more-coherent-course-action-beijing?utm_source=rss_feed Mon, 27 Feb 2023 15:00:08 +0000