Indholdsfortegnelse for Vol.67/No.31 i Beijing Review

Interest Rate Cut The People’s Bank of China (PBC), the country’s central bank, lowered the interest rates on its standing lending facility (SLF) on July 22, to improve the monetary policy transmission mechanism. The monetary policy transmission mechanism refers to the process by which monetary policy decisions affect economic growth, prices and other aspects of the economy. The official interest rate is the most popular tool by which central banks influence the economy. According to the PBC, the overnight rate was cut by 10 basis points to 2.55 percent, and the seven-day and one-month rates were each lowered by 10 basis points to 2.7 percent and 3.05 percent, respectively. The SLF, introduced by the central bank in 2013, serves as a channel to meet the liquidity needs of financial institutions.…

Questions and speculations surrounding the future direction of China’s economy, and whether it will continue pursuing reform and opening up, have predictably surfaced around the recently held Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC), which concluded with the release of a communiqué on July 18. Some critics have asserted that politics is suffocating China’s economy. Others have voiced opinions that while the words “reform” and “economic development” occur frequently throughout the communiqué, the document contains few specific details of the measures China will take to continue the revival of its economy. However, those with seats closer to the action suggest these critics may be looking in the wrong places. “The communiqué is about principles and directions. It is relatively abstract,” Tian Xuan,…

Chang’e is the Chinese moon goddess. Named after her, the Chang’e-6 lunar module returned to Earth this June carrying 1,935.3 grams of rocks and dust from the far side of the moon. A world first, the unique samples—more viscous and clumpier than previously collected lunar specimens—will be distributed globally for scientific analysis. China’s lunar program, initiated in 2007 with the launch of Chang’e-1 to create a high-resolution 3D map of the moon’s surface, illustrates the country’s enviable ability to concentrate its efforts on major tasks. This ability, President Xi Jinping has suggested, is one of the major advantages of China’s socialist system. A major event The results of China’s capacity to concentrate on major tasks are equally evident in its rapid transition from a rural economy to a global industrial…

‘One issue is in the center of attention, peace in Ukraine. We will talk, we will find common ground. We should avoid rivalry of peace plans and move toward a just and sustainable peace. China could play a major role in it,” Ukrainian Foreign Minister Dmytro Kuleba said in a video posted on social media platform Instagram on July 23. He made the post upon his arrival in Guangzhou in Guangdong Province, for a four-day visit to China. It was the first of its kind by a Ukrainian official to China since the Ukraine crisis began in February 2022, also the first by a Ukrainian foreign minister to China since 2012. During talks with Kuleba on July 24, Wang Yi, a member of the Political Bureau of the Communist Party…

On July 4, 15 equestrian athletes from Yushu Tibetan Autonomous Prefecture in Qinghai Province traveled to neighboring Xinjiang Uygur Autonomous Region for the equestrian events of the 12th National Traditional Games of Ethnic Minorities. Their destination was the grasslands of the Tianshan Mountains in Zhaosu County of Ili Kazak Autonomous Prefecture, where they were reunited with their horses, which had traveled there for eight days by road. From July 8 to 13, they participated in friendly competition with other top athletes in events such as horse racing and horseback archery. Exhibition categories at the event allowed participants to showcase non-competitive equestrian elements derived from their cultures and lifestyles. Held in mid-summer, the equestrian events took place ahead of more than 160 other traditional ethnic minority competitions and exhibitions, which will…

A visitor tries his hand at chuiwan, a traditional Chinese ball sport similar to modern-day golf, at the China House in Paris, France, on July 24. The China House for the Paris 2024 Olympic Summer Games was inaugurated at the Hotel Salomon de Rothschild in Paris that day. The China House is an effort by the Chinese Olympic Committee to promote Chinese culture and friendship to the rest of the world. China’s history, tradition and culture in sports participation, dating back thousands of years, as well as athletic exchanges between China and the Games’ host, France, are among the highlights of this year’s pavilion.…

FRANCE Audiences cheer before the kick-off of the men’s pool C rugby sevens match between France and the United States of the Paris 2024 Olympic Summer Games at the Stade de France, Paris, on July 24 MEXICO A performer dances at the Guelaguetza Auditorium in Oaxaca City on July 22. The performance was part of an annual showcase of the country’s indigenous cultures hosted by the auditorium NEPAL Rescue workers collect debris at the site of an air crash near the Tribhuvan International Airport in Kathmandu on July 24. Eighteen bodies were recovered after a plane crashed near the airport BELGIUM A military and civilian parade during the Belgian National Day celebrations in Brussels on July 21 CANADA Firefighters battle a wildfire in Fort McMurray, northern Alberta, on July 18…

For Wang Zixin, a recent college graduate majoring in computer science and technology from Changchun, Jilin Province, the job hunt did not prove as challenging as he had anticipated. Wang attended five job fairs and received seven job offers. Ultimately, he decided to accept a position at a bank. “The job fairs, which were mostly organized by my university or the local district and city government’s human resources and social security departments, provided graduates like me with a wider range of options to consider,” Wang told Beijing Review. He added that the majority of his classmates were able to secure employment at a company or organization prior to graduation, with the exception of those who opted for more flexible forms of employment. China created 6.98 million new urban jobs in…

At China’s invitation, senior representatives of 14 Palestinian factions held reconciliation talks in Beijing from July 21 to 23. Wang Yi, a member of the Political Bureau of the Central Committee of the Communist Party of China and Minister of Foreign Affairs, on July 23 attended the closing ceremony of the reconciliation talks in Beijing, where he witnessed the signing of the Beijing Declaration on Ending Division and Strengthening Palestinian National Unity by 14 Palestinian factions. Historical moment In his remarks, Wang noted that since entering the new era, Chinese President Xi Jinping has put forward proposals and propositions on addressing the Palestinian question, contributing Chinese wisdom and solutions for addressing the matter. “This is an important historical moment in the Palestinian liberation cause. China commends the reconciliation efforts made…

Brain Health Journal The journal Brain Hemorrhages, initiated by a team of Chinese researchers, has seen a steady increase in international influence in recent years, according to the 2024 Brain Health Conference that concluded in Beijing on July 21. The journal was included in the Emerging Sources Citation Index, a database for emerging and high-potential journals, in late 2023, and recently received its first impact factor of 1.3, marking a new step in its international academic influence, said Zhang He, editor-in-chief of the journal, who highlighted the progress at the conference. It was established by a research team from Tongji Hospital in Wuhan, Hubei Province, in collaboration with the International Hemorrhagic Stroke Association. The journal publishes high-quality original research articles, authoritative reviews and academic briefings in English. The proportion of…

The Communist Party of China (CPC) recently concluded the long-anticipated Third Plenary Session of the 20th CPC Central Committee. The meeting brought together the Party’s top leadership to discuss and articulate China’s policy goals for promoting Chinese-style modernization and its strategic measures for further comprehensive reform. Several questions arise regarding the third plenum’s work. Specifically, did the plenum chart a clear path toward achieving new quality productive forces? [The concept of new quality productive forces refers to the shift toward innovation-driven growth, technological advancement and high-quality development in various sector of the economy—Ed.] Additionally, did the plenum address the structural challenges within China’s economy? What additional announcements were made at the plenum? And, finally, what’s next for China as a result of the third plenum? Third plenums Before I tackle…

Linqu County in Weifang of Shandong Province has recently risen to fame as China’s largest producer of foie gras, the liver of specially fattened geese and ducks, which is a French delicacy. Last year, the county raised more than 5 million Landes geese, a breed developed in France specifically for their large, fatty livers; and produced more than 5,000 tons of foie gras for the domestic and international markets, accounting for more than 70 percent of domestic goose liver production. A complete industrial chain Linqu’s path to becoming China’s largest producer of foie gras began in 1988, when Shandong Zunrun Sanrougey Food Co. Ltd. imported 10,000 Landes geese from France, initiating the county’s foie gras industry. “Linqu and Landes are on the same latitude and their environmental conditions, including humidity,…

The Northern Hemisphere’s summer vacation is one of Beijing’s busiest seasons for tourism each year, and daily average passenger throughput at Beijing Capital International Airport is currently at around 190,000. Tourists from China and abroad, especially students, are visiting major scenic spots as well as the city’s iconic hutong alleyways. Beijing has adopted an array of measures to make visiting the city easier for tourists during the current peak, such as canceling the closure of parks on Mondays and removing the requirement to make advance reservations for most museums and scenic areas introduced during the COVID-19 pandemic. Comments to weiyao@cicgamericas.com…