Celebration of 71st anniversary of the founding of the People’s Republic of China is held at the Tian’anmen Square in Beijing, 1 Oct. 2020 [Chen Zhonghao/Xinhua]
Geopolitics
White House deepens sanctions by restricting exports to China’s largest chip manufacturer (SMIC) for alleged risk of military end use
Move threatens China’s plan for self-sufficiency with SMIC’s chip production, which is still dominated by the US (80% of market in several specialized equipment segments)
China and Cuba celebrate 60 years of diplomatic relations, strengthened through joint fight against COVID-19
President Xi affirms “unique friendship” between the socialist nations, which cooperate in different sectors (diplomatic multilateralism, agriculture, alternative energy) – including joint development of cancer and anti-viral drugs in laboratories built in China
Forum on China-Africa Cooperation (FOCAC) marks 20 years of strategic partnerships in trade, infrastructure projects and political relations
Chinese infrastructure investments total US $110 billion – boosting industry on the African continent (16,000 km of roads and railroads, 20 ports, 80 power plants, etc.) – and bilateral trade reached US $200 billion in 2019
National Politics
Provinces must invest most of land transfer revenues in rural revitalization, according to central government’s new guidelines
Share of total revenue (US $1.1 trillion in 2019) will increase from 34.4% to over 50% (2018-2015) that is allocated to improving rural living conditions and education rather than urban and industrial development
China’s Free Lunch for Children Initiative fed over 40 million rural students since 2011 launch
Government lunch subsidies (US $21.6 billion) helped children primarily from peasant and migrant worker families, increasing the average height and weight of girls (1.69 cm/1.18 kg) and boys (1.54 cm/1.06 kg)
On October 1st, Chinese people celebrated 71st anniversary of the founding of the PRC, Mid-Autumn Festival and post-pandemic recovery
550 million domestic tourists are expected to boost economy during the “Golden Week” – the first long holiday since the Spring Festival lockdown in Wuhan, where 140+ celebration events are planned
Economy
In August, industrial enterprise profits (US $89.8 billion) grew 19.1% year-on-year, but accumulated profits for 2020 dropped 4.4%
Profits increased for computer, communication and electronic equipment manufacturing (26.1%), special equipment (22.9%) and agro-industry (17.7%); total 2020 profits expected to reach 2019 level
September Purchasing Managers’ Index (PMI) reaches 55.1 and the World Bank revises 2020 China’s growth forecast to 2%
PMI showed seven consecutive months of expansion, with growth in manufacturing (51.5), services (55.2) and construction (60.2), but employment remains low (49.6)
Investment in rural revitalization and poverty alleviation leads to income and consumption growth in the countryside in 2020
Fixed asset investment in primary industry (US $160 billion) increased 11.5% year-on-year, rural disposable income surpassed urban residents’ by 2.2 percentage points and online consumption in poverty-stricken municipalities grew 18.8%
Agriculture and Environment
China’s “eco-civilization” model prioritizing scientific and strategic green development offers valuable lessons in global biodiversity governance
A tense opening exchange with US counterparts, top foreign affairs diplomat Yang Jiechi disputed US imposition of “universal” values, opposed interference in China’s internal affairs and asserted that US does not “represent international public opinion”
Yunnan’s Pu’er tea has been essential to provincial development strategy since 1990s, recovering thousand-year-old cultivation practices
First recorded use by emperors in 11th-7th c. BCE, speculation for the popular fermented tea led to “Pu’er Tea Bubble”and was auctioned for 32 times the price of gold in 2004
Science and Technology
Technology and logistics giant Alibaba announces US $15 billion investment in research and its entry into high-end chip development
Through its Dharma Academy research foundation, which won over 60+ international innovations in AI, quantum computing and autonomous driving, Alibaba becomes another possibility for China’s domestic semiconductor production
Huawei increases investment and presence in the growing electric and autonomous car industry, and may become a leader in the coming years
Chinese giant has recruited industry talent, provided 150 car models of 20 automakers with its HiCar operating system, and partnered with state-owned BAIC group to develop vehicle prototype
People’s Life and Culture
Ancient Mid-Autumn Festival dedicated to the harvest and family reunion is celebrated across China, East and Southeast Asia
Dating back to Tang Dynasty (7th-10th c.), the festival that pays tribute to rabbit god Tu’er Ye and moon goddess Chang’e falls on the 15th day of the eighth lunar month
110th anniversary of birth of Cao Yu, anti-feudal playwright and pioneer of Chinese modern theatre
Founding president of the Beijing People’s Art Theatre (1952) combined Chinese opera with Western theatre – playwrights Ibsen, Molière and Shakespeare, who he translated – and was influenced by the resistance against Japanese occupation
Teenage Bruce Lee in film adaptation of Cao Yu’s classic anti-feudal book “Thunderstorm”, 1957 [Still from film]