Today, we recommend you listen to the song ‘Chengdu’ (成都) by Zhao Lei (赵雷), a popular track in 2017 that attracted many tourists to that city.
Geopolitics
Chinese companies increase their investments in countries of the Global South, while decreasing their investments in the West
According to the American Enterprise Institute, the G7 received 120 investments (63 in the US) in 2016 from Chinese state-owned and private companies, which dropped to 13 projects last year, receiving only US$ 7.4 billion against more than US$24 billion invested in Asia, South America, and the Middle East; in those regions China invests mainly in energy and mining projects, as is the case of Indonesia which accounted for 17% of total investments due to its nickel reserves
The number of Chinese scientists leaving the US to return home continues to grow amid a climate of persecution
According to OECD data, in 2021 the US lost 896 scientific authors while China gained 3,108; according to a survey last month, 70% of Chinese researchers in the US said they did not feel safe in that country and the visa rejection rate for foreign students in the US rose from 15% in 2014 to a record 35% in 2022
National Politics
Wang Yi returns to the Chinese Foreign Ministry to replace Qin Gang and a new central bank president has been appointed
The decisions were made at a special session of the Standing Committee of the National People’s Congress, following a meeting of the Politburo; at the Ministry of Foreign Affairs, it was officially announced that Qin Gang is stepping down for health reasons, and at the People’s Bank of China, Pan Gongsheng formally replaces Yi Gang on the way to the National Financial Work Conference held every five years
The National Development and Reform Commission published a “white list” of new sectors open to private investment
Some of the key industries and state projects include transportation, water, clean energy, new infrastructure, advanced manufacturing, and modern mechanized agriculture; the government is looking to boost the private sector, which is coming from posting a 21.8% drop in earnings through May, and from accounting for 65% of total fixed asset investments in 2015 to 53% today
Economy
China imported record amounts of Russian oil in the first half of 2023
China imported 11.4 million barrels of crude oil, up 11.7% year-on-year and 15.3% compared to pre-pandemic levels; that was about 2.13 million barrels per day, ahead of the 1.88 million barrels imported from Saudi Arabia, making Russia China’s top crude oil supplier so far this year
The STAR market, known as the “NASDAQ of China”, grew from 0 to 6.4 trillion yuan (US$ 89 billion) in just four years
It is operated by the Shanghai Stock Exchange and allows the listing of new domestic companies, mainly in science and technology; in 2022, total investment in research and development by listed companies reached 128.5 billion yuan (US$17.91 billion), a year-on-year increase of 28%
Agriculture and Environment
China exports domestic poultry breeds for the first time in history
The shipment of 15,500 “Jinghong 1” high-yield layers and 1,000 “Wode 188” broilers to Tanzania also marks a break in the global monopoly of European and US producers; after years of secret research to avoid cutting off supplies from foreign companies, three domestic varieties were approved by the end of 2021
Science and Technology
The Shenzhen Institute of Advanced Technology developed and began mass production of a domestic magnetic resonance imaging machine
It can offer image quality equal to that of the most advanced in the world, but at a lower cost, and will allow the State to have more health resources for other purposes; it is a very important achievement in terms of technological sovereignty and health, and an example of integration between researchers, companies and state funding
People’s Life and Culture
Chengdu hosts World University Games after being postponed for two years due to the pandemic
The city located in Sichuan province and characterized by its food, pandas and a mostly young population, will host the 31st edition of the games; at the opening, President Xi Jinping welcomes seven heads of state, including Joko Widodo of Indonesia and others he has not met since before the pandemic
Climate change has begun to endanger ancient murals and statues in caves of the ancient Silk Road
A recently released Greenpeace report shows that Buddhist artworks housed in caves in Gansu province are at risk as the region becomes hotter, wetter, and more prone to sudden rainfall; in 2021, Xi Jinping called for archaeologists to develop an archaeology with Chinese characteristics, style and ethos, capable of revealing to the world the splendor of their civilization
Crumbling and detachment on a mural in the East Cave of Jinta Temple [Zhangye Cultural Heritage Administration]
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