Winter Olympic Games volunteers at the Wukesong Sports Center, Beijing, 30 December 2021 [Xinhua]
National Politics
Beijing hosts Winter Olympics with strict anti-Omicron measures, aiming to achieve carbon-neutrality and boost popularity of ice sports
Selected spectators, over 2,000 athletes, and 25,000 coaches, support staff, and journalists will stay in a “closed loop” with daily tests; some 2008 Olympics facilities will be reused and energy will come from wind, solar, and hydroelectric sources
Central government releases report on devastating floods in Henan province last year, finding local officials responsible for high death toll
July saw a day’s rainfall (624mm) equal to annual depths, costing 398 lives and US $18.9 billion in direct losses; 87 civil servants were demoted or dismissed for ignoring weather warnings, underreporting deaths, and misusing flood prevention funds
Chinese state-linked investors backed almost 30% of the 100 biggest startups in 2021, particularly in tech and carbon neutrality sectors
New funds from companies and municipalities include steel giants Baowu Steel (US $7.9 billion) and China National Building Material (US $3.14 billion), and Xiamen, Chengdu, and Qingdao cities; investment fund planning focuses on national strategic priorities
Economy
China’s tax revenue grows 10.7% in 2021 (US $3.2 trillion), nearly doubling 2012 figure and recovers from 3.9% drop in 2020
2021 government budget spending totaled US $3.87 trillion (+0.3%) – maintaining fiscal balance – while US $173.9 billion in tax cuts and fees helped stimulate the economy
3.25 billion domestic tourist trips were made in 2021 (+12.8% year-on-year) but only reaching 54% of pre-pandemic levels (2019)
In the CPC’s centennial year, though Covid-related measures hampered travel, “red tourism” continued to grow with 40% of tourists visiting sites linked to revolutionary history; domestic consumption totaled US $461 billion (+31%) or 51% of 2019 level
Geopolitics
Driven by energy megaprojects, China-Russia trade grows 35.8% in 2021, hitting record high of US $146.88 billion
As the US and EU stoke tensions in Ukraine and threaten new sanctions against Russia, Moscow and Beijing strengthen relations – three major projects underway total US $93 billion in investments – and a “surprise” is expected during Putin’s Olympics visit
Agriculture and Environment
China imports 32.3 million tons of US soybeans in 2021 (+25%, 2020) under a 2020 trade pact with Washington
Adverse weather impacted exports to China of the world’s top producer Brazil (-9.5%, 2020); as top global importer, China brought in 96.52 million tons of soybeans in 2021 (-3.8%, 2020)
As China’s pork production jumps 29% (53.38 million tons) and recovers from the 2019 swine fever outbreak, wholesale pork prices decline
As a result of government efforts and market forces, government officials predict a further decrease in prices during Spring Festival following last week’s 2.6% drop, contributing to a slowdown in China’s Consumer Price Index
Health
China’s first mRNA Covid-19 vaccine completes Phase I clinical trials with 80-95% immune response
Jointly developed by Walvax Biotechnology, Suzhou Abogen Biosciences, and the PLA Academy of Military Science, ARCoV vaccine is the first homegrown mRNA to enter Phase III trials and can be stored at standard refrigerated conditions (2-8°C) compared with Pfizer/BioNTech’s and Moderna’s (-80 to -60°C)
People’s Life and Culture
Women’s Rights and Interests Protection Law draft receives overwhelming public feedback, amid polarizing debate on gender issues
Proposed amendments by the National People’s Congress to the 1995 law (revised 2005) addresses sexual harassment, workplace equality, property rights, and protection mechanisms, while 390,000 changes were proposed by 80,000 people in public consultation
Giant panda cubs welcoming upcoming Spring Festival, Sichuan province, 24 January 2022 [Xinhua/Wang Xi]
Subscribe to News on China. The digest is published every Saturday in English, Spanish, Portuguese, and French.
Follow our social media channels:
- Twitter: @DongshengNews (English), @DongshengNewsES (Spanish), @DongshengNewsBR (Portuguese)
- Telegram: News on China, Noticias de China, Notícias da China
- Instagram: @DongshengNews
- YouTube: Dongsheng News