The Chinese authorities have been working to restore confidence in the economy, especially among foreign businesses and investors. The latest policy move is a raft of 24 measures aimed at attracting foreign capital. However, it seems that there has been a lack of attention on these measures, and it is still unclear how far they will go in drawing investments back.
Covid-19
Society
US-based academic Wu Guo visited his friends and relatives in China after the lifting of Covid restrictions. Based on his observations and interactions, he shares his worries that most Chinese only have one single source of information, and live in a world of simplified Chinese characters, which could result in them developing a distorted and illusory view of the world.
Economy
Over the past four decades, China’s economic growth has been mainly driven externally by exports and internally by investments. But China can no longer count on exports to drive economic growth. Thus, the country is seeking to boost domestic demand. Academic Gu Qingyang shares that China needs a multi-prong approach, which would require a significant transformation of the economy.
Economy
Lianhe Zaobao correspondent Yang Danxu notes that the public space for discussion of China’s economic situation has tightened, even for experts and analysts. Should China control the narrative surrounding its struggling economy, which its people can clearly see and feel the impact of?
Culture
Did the wise men understand the profundity of the words “Instead of flattering ao (奥), it is better to flatter zao (灶)” when they used it as an oracle in the drawing of divination lots? Cultural historian Cheng Pei-kai delves into the historical background of the quote from the Analects and what we can learn from it.
Economy
Chinese academic Han Heyuan notes that following the pandemic, disposable income in China is not at a level that allows for more domestic consumer spending, leading to economic growth being hampered. Also, the Chinese mentality is one of saving rather than spending, which makes it more of a challenge to encourage domestic demand.
Politics
Germany’s newly unveiled “Strategy on China” echoed much of EU language in highlighting risks concerning competitiveness, supply chain resilience, national security and values in its recalibrated approach to China. While a de-risking strategy carries difficult trade-offs, there seems to be a broad consensus on the goals Germany wants to achieve.
Economy
Meituan, mainland China’s food delivery giant, made its first foray outside the mainland to Hong Kong recently, under the brand KeeTa. It faces stiff competition from incumbents Foodpanda and Deliveroo, amid a strong sense of local identity among Hong Kong residents which may affect take-up rates to some extent. Nevertheless, this is a testbed for Meituan’s internationalisation plans. Lianhe Zaobao journalist Tai Hing Shing reports.
Politics
Cultural and academic exchanges between Taiwan and mainland China have restarted since being suspended due to the three-year-long pandemic. While official coordination of these exchanges are proving to be difficult to resume, it remains a priority, in particular for the mainland side. On the Taiwan side, wary of interference ahead of the Taiwan election, relevant authorities are tightening the scrutiny of mainlanders visiting Taiwan. Lianhe Zaobao journalist Miao Zong-Han tells us more.