Foreign Minister Wang Yi [AFP]
Geopolitics
China maintain neutral position and abstains in UN vote that condemned Russia for Ukraine conflict
Beijing defends national sovereignty, while also criticizing NATO expansion in the region and, in a call with Ukrainian counterpart Dymtro Kuleba, Foreign Minister Wang Yi assumes mediating role, calling on both sides to negotiate an end to war, and securing the largest-ever evacuation of 2,300 Chinese
Beijing opposes series of unilateral US and EU sanctions against Moscow, while many banks in Russia and cut off from SWIFT
Prevented from using dollars in business transactions, Russians may adopt Chinese international bank transfer system CIPS; China-Russia bilateral trade de-dollarization is expected to accelerate, following trend of recent years, but White House threatens retaliation if China acts against sanctions on Russia
After Germany sanctioned Nord Stream 2 gas pipeline, Russian state-owned Gazprom signs contract to build the Soyuz Vostok, supplying gas to China
New pipeline will pass through Mongolia and connect western and eastern Russian systems, redirecting Europe-bound gas to Asia; company foresees capacity of 50 billion mᶟ annually, almost equivalent to Nord Stream 2 (55 billion mᶟ)
National Politics
China presents five-year plan to promote healthy aging and develop “silver economy,” which generated US$855 billion by 2020
Measures include increasing the number of beds for elderly care (8.2-9 million) by 2025 and ensuring one social worker/1,000 elderly people; country should start raising retirement age due to high cost of pensions
Economy
Developers face bond defaults, lawsuits, as well as falling credit rating, stock prices, and sales, while state-backed companies help contain the crisis
Over 31 major companies reported double-digit sales declines in January (25 reported year-on-year growth); cash-strapped Evergrande sells four projects to Chinese state-owned companies, which will allow it to settle US$1.11 billion in liabilities
After Gross National Income reaches US$12,438 per capita in 2021, China is poised to become a “high income” country ($12,695/year)
Nominal 20% increase in GNI due to rapid economic recovery with pandemic control and strong yuan performance against the dollar, but inequality is still a challenge: 20% of the richest households have 10.3 times more income than the poorest 20%
Agriculture and Environment
China emerges as a global leader in a clean energy transition, accounting for 35% of total global investments (US$266 billion, 2021)
The country has become a leader in hydropower (30.1% of global production), wind (28.4%), and solar (⅔) according to 2019 data, and promises to raise its total installed capacity of wind and solar energy to more than 1.2 billion kW by 2030
People’s Life and Culture
For the first time in 25 years, China’s urbanization rate increases by less than 1% due to pandemic and economic challenges
Zero-Covid policy, layoffs, reduced wages, and high cost of living are among the reasons the rate only grew by 0.83% last year, reaching 64.72%; fixed urban population is 914.25 million (+12.05 million) and migrant workers 384.67 million (+8.85 million)
Half of China’s abducted women are foreign-born and entrapped by lucrative jobs or marriage promises, according to study
Of 616 legal cases involving 1,252 victims (2017-20), ⅕ had a disability and most were kidnapped by strangers in roadside encounters, homes, and workplaces to be sold (average of US$5,650); since creation in 1979, human trafficking criminal laws have undergone several amendments
Breast cancer, the most common form of cancer among Chinese women, is increasing but post-op survivors face social stigma
According to WHO, 420,000 cases were reported (2020) and incidence rate is growing at twice the global average; Chinese patients are a decade younger than European and US counterparts and >20% undergo breast-conserving surgery (vs. 70% in US)
Breast cancer survivors and volunteers march to heighten public awareness of the disease, 2019 [Chen Xiaowei / Xinhua]
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