No. 135 | 18.02.2023



Despite increased tension between China and the US, bilateral trade hits a record in 2022, totaling US$690.6 billion

Exports to China increased by US$2.4 billion and imports from the country increased by US$31.8 billion, despite the steady imposition of export controls and the continuation of the Trump-era tariffs; China increased imports of soybeans and other foodstuffs, and the US imported more toys and other consumer products

Nikkei, 07.02.2023

The central banks of China and Brazil set up yuan clearing agreements in the South American country

The measure will allow companies and financial institutions in both countries to use the yuan for bilateral transactions; China has been Brazil’s largest trading partner for 13 consecutive years, and Brazil is China’s largest trading partner in Latin America, with bilateral trade exceeding US$100 billion for four consecutive years

CGTN, 07.02.2022

Russia’s National Wealth Fund (NWF) will scrap the euro, leaving it only with the Chinese yuan, rubles, and gold

In 2021, the country removed the dollar from the NWF currencies and the euro now occupies most of the reserves (39.7%), while in 2022, about half of Russia’s international reserves were blocked due to sanctions; the maximum proportion of the yuan in the US$148 billion fund will increase from 30% to 60%

Ministry of Finance of the Russian Federation, 09.02.2022

National Politics

Representatives of the Kuomintang (KMT), the opposition party to Taiwan’s separatist government, visited Mainland China

Andrew Hsia, vice-chairman of the KMT, met with the CPC and both sides rejected “Taiwan independence”, defended the “one China” principle, and expressed their willingness to promote exchange and cooperation; tension in the strait worsened and communications were interrupted under the Democratic Progressive Party government

Global Times, 10.02.2023


Household savings reach record 17.8 trillion yuan (US$2.6 trillions) in 2022, nearly double 2021 levels

Chinese bank deposits increased 33%, about 26.3 trillion yuan (US$3.9 trillion) last year, a year-on-year increase of 6.59 trillion yuan (US$96 billion); excess savings from the domestic sector came mainly from lower consumer spending and reduced investment spending in areas such as housing and wealth management

China Daily, 14.02.2022

Caixin Global, 14.02.2022

Category Icons

Agriculture and Environment

Researchers created a map of soybean nutrients distribution in China and propose a scheme of regionalization of the seeds quality

1,792 soybean samples from 29 provincial-level regions of China were collected between 2010 and 2017; through the quantification and analysis of crude oil, scientists identified areas with advantages for edible soybeans, other suitable for high-oil, high-yield soybeans, and regions where the grain has a high protein content

Xinhua, 02.02.2023 

Science and Technology

An unprecedented stealth drone design features functions that could be applied to the next generation of Chinese fighter aircraft

The new drone eliminates mechanical components such as ailerons, rudders, and elevators, and uses bursts of compressed air to maneuver; according to the research team that developed it, it could help drones evade radars more effectively

South China Morning Post, 08.02.2023

People’s Life and Culture

65 years ago, pinyin was introduced as a Chinese translation method on February 11, 1958

After coming to power in 1949, the Mao government sought to increase literacy and promote education, and after a long process of discussion, the pinyin system was created using the Latin alphabet; it was adopted by the UN in 1986 and today has become the global standard for translating Chinese

The China Project, 08.02.2023

Retirees in some provinces challenge health insurance cuts amid a nationwide restructuring that began in 2020

A crowd of retirees gathered outside Wuhan municipality to demonstrate against the reform under which they will receive almost 2,000 yuan (US$294) less per year; China is also discussing the gradual increase of the retirement age to 65 in 2055 for both men (today it is 60) and women (currently 50)

Caixin Global, 10.02.2023

Caixin Global, 10.02.2023

Viewed over 300 million times in a single day and broadcasted to 65% of Chinese cities, The Knockout becomes the most popular series in January

The show reflects the hard life of Chinese self-employed workers at the turn of the century; self-employment, including street vending, shot up in the reform period and the sector had to deal with organized crime and, at times, excessive regulations

Caixin Global, 11.02.2023

Scene from ‘The Knockout’, the most acclaimed Chinese drama of 2023 so far

Dongsheng’s interventions and productions this week:

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