Indholdsfortegnelse for Vol.68/No.26 i Beijing Review

Forex Market China’s foreign exchange (forex) market saw stable operations in May, with a net inflow of cross-border capital, the State Administration of Foreign Exchange said on June 17. The country’s non-banking sectors, including enterprises and individuals, recorded a net cross-border capital inflow of $33 billion that month, according to data released by the administration. Net inflow of cross-border capital from trade in goods remained at a high level, while foreign investors increased their holdings of domestic stocks compared to the previous month, said Li Bin, deputy head of the administration. Net capital outflows related to areas such as trade in services and outbound direct investment remained generally stable, Li said. In May, forex purchases completed by banks totaled $192.7 billion, while sales totaled $181.4 billion. Market expectations remained stable,…

Earlier this year, RedNote, a popular Chinese lifestyle and e-commerce platform, experienced a surge in inflow of U.S.-based users. The app became a space for cross-cultural exchange, where people from both countries discussed topics of mutual interest. One of the most frequently asked questions from American users was whether China operates a system that tracks citizens’ behavior and assigns a “social credit score,” influencing their access to services or purchases. The answer is: yes. At its core, China’s social credit system is designed to uphold integrity in economic and social activities, which is implemented through collecting, compiling and publicly sharing compliance data on individuals, businesses and government entities. In recent years, China has continuously introduced regulations and policies for improving the social credit system, which plays a crucial role in…

On June 14, the U.S. staged its first large-scale military parade since the conclusion of the Gulf War in 1991. The grand event, which lasted more than two hours, featured over 6,000 active-duty service members, 128 tanks, armored vehicles, and artillery systems, along with 62 military aircraft. In recent years, America’s global strategy has largely been in retreat—whether through its hasty withdrawal from Afghanistan or the restraint shown in the Red Sea amid attacks by Yemen’s Houthi forces. Against this backdrop, the Donald Trump administration’s insistence on holding the parade can be seen as an effort to restore a sense of national pride, boost troop morale and public confidence, and send a strong deterrent message to potential adversaries. However, the parade failed to achieve any of these. Domestically, critics of…

The Second China-Central Asia Summit in Astana, capital of Kazakhstan, concluded with several agreements and arrangements, lending strong, new momentum to relations among all participating countries. The first summit took place in Xi’an, China, in 2023. It was decided that future summits would occur every two years, alternating between China and Central Asian countries. Last year, the framework for collaborative efforts was enhanced by creating a permanent secretariat based in Xi’an. Since his first trip to Central Asia after becoming president of China in 2013, Xi Jinping has visited the region eight times and strengthened bilateral partnerships through platforms such as the Shanghai Cooperation Organization and the Conference on Interaction and Confidence-Building Measures in Asia. Currently, Central Asia, spanning Kazakhstan, Uzbekistan, Kyrgyzstan, Turkmenistan and Tajikistan, is the only region in…

‘People on both sides of the Taiwan Straits share the same bloodline—this deep bond of kinship helped me find my place and purpose on the mainland,” said Lin Chi-min, a young entrepreneur from China’s Taiwan region, when sharing his story of successful entrepreneurship during the main conference of the 17th Straits Forum. The forum is held each year in Xiamen City, Fujian Province, which faces Taiwan across the Taiwan Straits. As the most inclusive platform for cross-Straits people-to-people exchange with the broadest scope and largest scale, the Straits Forum, over its past 16 iterations, had hosted nearly 800 activities and attracted more than 350,000 participants from both sides, including over 140,000 Taiwan compatriots. Staying true to its original aspiration, this year’s forum continues to uphold the theme: expanding people-to-people exchanges…

An escape flight test on China’s new-generation manned spacecraft Mengzhou at zero altitude in northwest China on June 17. China successfully conducted the test at the Jiuquan Satellite Launch Center that day, taking an important step forward in its manned lunar exploration program. The Mengzhou spacecraft is a new generation of manned space vehicles independently developed for future space missions. Unlike the Shenzhou system—in which the rocket was responsible for escape and the spacecraft for rescue—the Mengzhou handles both tasks as a fully integrated system, according to the China Manned Space Agency. Escape and rescue capabilities are essential safety measures in manned spaceflight, allowing astronauts to be pulled away from danger and return to Earth in the event of an emergency during launch.…

For the first time in over a century, migrant workers in the U.S. on June 6-8 protested against the U.S. Government in response to the policies of President Donald Trump. In May, the U.S. Citizenship and Immigrant Services dispatched its Immigration and Customs Enforcement (ICE) force to arrest migrant workers who were employed at low wages in crucial industries and services to comply with Trump’s pledge to deport 3,000 immigrant workers a day to keep his promise to Americans to rid the country of undocumented immigrants. However, immigrant workers are essential workers and fill jobs that most Americans reject due to low and uncertain wages and despotic conditions. Many undocumented workers support their families through remittances and must pay a king’s ransom to work under barbaric conditions. Many American workers…

After taking his teenage son to a match in the Jiangsu Soccer City League (JSCL), affectionately known as the “Su Super League” or “Suchao,” in mid-May in Huaian, Jiangsu Province, Gao Qi has heard his son repeatedly express a desire to go watch another Suchao game. However, securing a ticket has become increasingly difficult, as the inter-city matches have become a bonafide sports sensation, not just in the province but nationwide. This first urban soccer league in Jiangsu started in mid-May and will last for seven months, with 85 matches between 13 teams, each representing a city in Jiangsu. So far, its attendance has surpassed that of some established professional leagues. The league teams comprise not only professional players but also amateur participants, including business owners, university students and high…

The 31st Beijing International Book Fair (BIBF) gathered over 1,700 exhibitors from 80 countries and regions, exhibiting around 220,000 titles from June 18 to 22. In addition to books, the fair also exhibited children’s book illustrations and other artworks, and hosted a world gift fair. First held in 1986 and organized by the National Press and Publication Administration, the BIBF has evolved into a premier global platform for book exhibition and copyright trade.…

Intelligent Ship China’sXin Hong Zhuan, the world’s first intelligent vessel designed for both research and maritime teaching practice, has set sail from Dalian, Liaoning Province, on a landmark 4,000-nautical-mile voyage. The voyage, which began on June 16, is part of a series of events celebrating China’s National Maritime Day, which falls on July 11. Over the course of roughly 30 days, the ship will visit six public-access port stops. Its core mission involves pioneering intelligent navigation experiments, such as tackling busy traffic conditions near Xinhai Port in Haikou, Hainan Province. The 69.8-meter long, 10.9-meter wide vessel, jointly built by Dalian Maritime University and China COSCO Shipping Corp. Ltd., features six revolutionary intelligent systems developed entirely with domestic intellectual property. COSCO Shipping has provided the Xin Hong Zhuan with two intelligent…

Geng Jun, President of Shaanxi Ruiying Biomedical Technology Co. Ltd. has spent over 20 years in the pharmaceutical industry. He said volume-based procurement is no longer new in healthcare—it’s now a fixture. The model works by aggregating demand from hospitals and negotiating directly with drug suppliers to lower prices through scale. Geng said protectionism used to be a common feature of drug procurement. Local healthcare authorities had leeway to adjust their essential drug lists, and hospitals often favored local pharmaceutical firms in their purchasing decisions. In China, the government-run medical insurance programs at the provincial level provide full reimbursement for some drugs on the lists and partial reimbursement for others. “That kind of local tilt is largely gone now,” he said. Today, a single province can take the lead in…

In the early hours of June 13, a largescale Israeli airstrike on Iranian military and nuclear sites escalated tension in an already volatile Middle East. Iran’s swift retaliation intensified the crisis. Their exchange of missiles and bombs resulted in significant casualties, leaving more than 580 dead and over 1,300 injured in Iran, and 24 deaths and more than 500 injuries reported in Israel, as of June 18. The roots of the current conflict are multifaceted. Zhou Rong, a senior research fellow at the Chongyang Institute for Financial Studies at Renmin University in Beijing, said in an interview with Chinese broadcaster Shenzhen TV on June 16 that Israel’s objective goes beyond tactical strikes and it aims to disrupt Iran’s nuclear program and weaken the Iranian regime itself through a series of…

Amid the vast desert, a lone column of smoke rises, and the sound of camel bells echoes. Looking back into the depths of history, over 2,100 years ago, the westward journey of Han Dynasty (206 B.C.-A.D. 220) envoy Zhang Qian opened the door to friendly exchanges between China and Central Asia. From history to the future, in the autumn of 2013, Chinese President Xi Jinping visited four Central Asian countries and, for the first time, proposed the initiative to jointly build the Silk Road Economic Belt in Kazakhstan, reawakening ancient memories and sketching the blueprint of a shared dream. The initiative, together with the 21st-Century Maritime Silk Road Xi proposed the following month in Indonesia, constitutes the Belt and Road Initiative (BRI), which aims to boost connectivity along and beyond…

Under the spotlight, a humanoid robot, measuring 1.3 meters tall and weighing 35 kg, stood poised. Then with remarkable agility, it executed a 360-degree kick. Seconds later, it was knocked down by its opponent, but it swiftly got up—on its own. The robots swung their metallic arms, unleashing jabs, hooks and lunging punches with fluid ferocity. This isn’t a scene from a sci-fi movie, but a routine test at Unitree Robotics in Hangzhou, Zhejiang Province in east China. The company’s robots have become stars. On January 28, this year’s Chinese New Year’s Eve, 16 humanoid robots clad in northeastern Chinese floral patterned cotton jackets performed the traditional Yangko folk dance, twirling red handkerchiefs on the renowned China Central Television (CCTV) Spring Festival Gala stage. As they did so, Huang Jiawei,…

With a civilization spanning millennia, China has long been a custodian of profound historical heritage. In recent years, alongside the establishment of museums, the country has accelerated efforts to develop national archaeological site parks—innovative spaces that transform excavation sites into immersive classrooms. These parks not only preserve ancient relics but also invite the public to engage with the research process, bridging the gap between academia and popular understanding. While museums curate artifacts behind glass, archaeological parks offer a dynamic alternative: sprawling landscapes where visitors walk amid reconstructed ruins, participate in simulated digs and witness ongoing research. This hands-on approach demystifies the past, contrasting with traditional exhibits by emphasizing context and fostering a tangible connection to bygone eras. On June 14, the National Cultural Heritage Administration (NCHA) announced the addition of…

A recent news report from Chongqing Municipality in southwest China revealed that a 58-year-old bank teller with poor eyesight had to use a magnifying glass to process transactions, causing customers to wait nearly an hour. The incident quickly sparked polarized reactions on Chinese social media: Some praised the teller’s dedication and called for greater societal tolerance toward elderly employees; others criticized the bank’s poor management and inefficient service, arguing that empathy for this clerk should not come at the expense of operational efficiency. The debate underlined broader tensions between workplace inclusivity and productivity expectations in an aging workforce. Wu Gang (Chongqing Daily): At its core, this issue is not about judging an employee’s personal character; it is a serious matter concerning corporate management, market competition and regional economic growth. Banks…