Seven central agencies released ‘Opinions on building a traceability system for meat, vegetables, traditional Chinese medicine (TCM) and other key products via inter-agency coordination’ on 6 June 2019. Supervision remains scattered among multiple agencies, but their remit is clarified.
The Huawei ban exposes tensions of China’s dual ambition: as a self-sufficient superpower and a globalist. Doubling down on indigenous innovation as long as the economy stays healthy is a viable option. To favour the globalist path, China would need to transform the Party-state.
Expanding trade in services is key to countering trade tensions and domestic economic slowdown. Despite ranking as the world’s second largest services exporter, China has a large services trade deficit, widening in April to US$24 bn.
As foreign companies and industry bodies cut ties with Huawei, Xi Jinping doubled down on indigenous innovation and self-reliance during his visit to Jiangxi on 20-22 May. Only with indigenous IPR and core technology can we make competitive products, said Xi, calling for ramping up R&D investment.
Xi’s statement to a long-awaited Conference on Dialogue of Asian Civilisations that implications of racial and civilisational superiority were ‘stupid’ was a clear riposte to State Department talk of China as ‘an alien’. Instead of ranking civilisations and claiming credit for China’s development, wrote Xinhua, the US should work with China to seek common ground to ‘crack’ the clash of civilisations myth.
In 2015, China announced an ambitious plan to promote ‘big data’ for its potential to improve governance, economic efficiency and social services. The plan called for a unified government data-sharing platform to be set up by end 2018, but such a centralised data platform is nowhere in sight.
After the US Commerce Department added Huawei and 68 affiliates to a list of foreign enterprises that pose national security risks, Ren Zhengfei 任正非 Huawei CEO told Nikkei the company had been preparing for it
Introduced in the early 1980s, China’s family planning policy was put in place as many other areas of life loosened up. After four decades, the one-child policy became a victim of its own success. With the world’s largest population, over three years since second children were allowed on 1 Jan 2016, China’s fertility remains critically low.
In response to Beijing’s recent negotiation moves, new tariff penalties threatened by President Trump on 5 May were imposed on goods leaving China on the 10th.
A forum on financial connectivity was held 25 Apr during the Second Belt and Road Forum for International Cooperation (BRF). Top financial policymakers showcased support for the Belt and Road Initiative (BRI) and laid out future priorities.
The threat posed by African swine fever (ASF) to CPI, inflation and trade is now clear, as MARA’s own estimates predict pork prices will rise over 70 percent this year to historic highs. Listed companies in the sector have seen massive growth in stock value, but some may not survive the crisis. Despite the ASF outbreak, Q1 economic data painted an upbeat picture with PMI, CPI, and PPI all increasing after months of contraction.
President Xi Jinping’s visit to Chongqing and adjacent areas reminded officials that poverty alleviation remains the central leadership’s priority. A Politburo meeting shortly thereafter, together with a Ministry of Justice directive mobilised lawyers to assist in the effort.