Sing a Song for the Party (唱支山歌给党听) is a revolutionary classic composed in 1963, and we share with you Han Hong’s (韩红) version.
Geopolitics
China became Vietnam’s largest investor, doubling its investments in the first eleven months to US$8.2 billion
Vietnam’s exports to China increased by 5% to reach nearly US$50 billion, while exports to the United States fell by 15% in the same period; following Xi Jinping’s visit last week, focus will be given to the relationship between each country’s communist parties and building a community of shared future with comprehensive strategic importance
China-Russia trade hit a record US$218 billion through November, up 26.7% year-on-year
The target set in 2019 to increase bilateral trade to US$200 billion by 2024 was reached ahead of schedule, thanks to energy trade (the Eastern Route pipeline transported more than 20 billion cubic meters of natural gas this year) and the growing use of the yuan; China’s exports to Russia increased by 50.2% and imports from Russia by 26.7%
National Politics
Hong Kong’s 2023 District Council Elections voter turnout set a record low of 27.5%
With low turnout historically, this year’s election suffered a computer glitch that led to the election being extended for an extra hour and a half; with 1.19 million voters having cast their ballots for 88 directly elected seats, the city leader will elect another 179, local committees will decide another 176, and rural leaders will hold the remaining 27 seats
Economy
China’s exports rose 0.5% year-on-year in November, following a six-month slump
After a 6.4% drop in October, November exports reached US$291.9 billion, driven by sales of cars and cell phones, which rose 54%; on the other hand, imports fell 0.6% to US$223.5 billion after a 3% increase in October
The number of Chinese billionaires fell again, now 15% or 224 individuals less than two years ago when the peak was reached
Total wealth fell 4% to US$3.2 trillion with almost 500 people dropping off the list in the last two years – 522 saw their wealth increase however; China remains the country with the most dollar billionaires in the world (895), almost 200 more than the U.S. and more than three times as many as India
Agriculture and Environment
At COP28, China questioned trade restrictions justified by climate policies, which affect the trade of green technologies
Climate envoy Xie Zhenhua said China supports fair trade in climate-friendly technologies and products, such as renewable energy equipment and low-carbon products; thanks to China’s progress, the cost of wind power has decreased by 80% and solar power by 90%
Annual grain production returns to growth and reaches an all-time high of 695.41 million tons (+1.3% y-o-y)
Corn production grew by 4% and its planted area reached a record 44.2 million hectares, an increase of 2.7% y-o-y, and the soybean harvest grew by 2.8% y-o-y to 20.84 million tons; the area under grain cultivation in the Xinjiang Autonomous Region grew by 16% y-o-y, contributing significantly to national production
Science and Technology
China has gone from being a buyer to a producer of high-end steel sheets in less than a decade
Steel sheets, whose cost per gram became almost the same as gold, has a wide range of applications, such as aerospace components, solar panels, folding cell phones, and surgical equipment; it can be sold at a profit of 300 to 500% more than the cost of stainless steel before processing
People’s Life and Culture
New study indicates that cancer deaths in China increased by 21.6% between 2005 and 2020
Researchers found a 5% increase in years of life lost – i.e. standard life expectancy minus the age at which the person dies – and attribute this to the aging population; since 2010, cancer has been the leading cause of death in China, which has a much higher mortality rate than the world average despite having a similar incidence rate
China’s rural women trend on social media, visiblizing their work and even increasing their purchasing power
Research from a China Women’s Federation magazine found that 40% of the content analyzed focuses on making domestic and agricultural work visible, while 34% breaks down traditional perceptions of rural women; social media introduces the digital economy to rural women, enabling different opportunities than those traditionally offered
“Sister Yu,” 45-year-old agricultural worker, has more than 10 million followers on Douyin, China’s version of TikTok [@东北雨姐 in Douyin].
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