Pekingnology

Pekingnology explores various aspects of China's domestic policies, its international relations, and public and economic strategies. It delves into the nuances of China's approach to foreign affairs, economic reforms, societal changes, and the global perception of its policies. The newsletter provides insights into China's interactions with other nations, particularly the U.S., and discusses developments in its private sector and technological advancements.

Domestic Policy and Society International Relations and Diplomacy Economic Strategies and Reforms Global Perceptions and Public Diplomacy Technological Advancements and Digital Economy Education and Talent Cultivation Legal and Corporate Developments

The hottest Substack posts of Pekingnology

And their main takeaways

China looks to turn a page with Japan, Britain, and Israel.

49 implied HN points • 22 Oct 24
🌍 World Politics International relations Diplomacy Geopolitics Bilateral Relations Conflict resolution
  1. China is trying to improve its relationships with Japan, Britain, and Israel. They want to start fresh and strengthen cooperation in various areas.
  2. India has made progress with China by reaching an agreement on their long-standing border issues. This could help ease tensions between the two countries after years of conflict.
  3. The recent diplomatic talks indicate a shift in the way these countries engage with China, focusing on mutual respect and cooperation to address challenges together.

A glimpse into the ongoing "zero-based budgeting" fiscal reform in Anhui

49 implied HN points • 20 Oct 24
🇺🇸 U.S. Politics Fiscal policy Budgeting Government reform Public Administration Economic Policy
  1. Zero-based budgeting in Anhui means starting from zero each year rather than using last year's budget as a base. This change helps focus on the actual needs and priorities of programs.
  2. During the budgeting process, Anhui discovered many overlapping policies and wasteful spending practices. This shows there was a lack of coordination between different departments.
  3. The reform aims to reduce ineffective spending and improve efficiency, which includes cutting unnecessary policies and reallocating funds to areas that need it the most.

Former China FDA Chief on Biopharmaceutical Industry's Achievements and Challenges

192 implied HN points • 12 Jan 24
🏥 Health Politics Industry Regulations Challenges Innovation Development
  1. China's biopharmaceutical industry has made significant advancements but is now facing challenges, including the loss of market value.
  2. The industry has seen growth in innovative drugs, improved quality of generic drugs, and a rise in biopharmaceutical companies.
  3. Challenges in the industry include difficulty in getting new drugs on medical insurance lists, accessing hospital procurement lists, and a reduction in venture capital.

Debunking the SCMP report that shaved 36 bln HKD off Baidu

188 implied HN points • 15 Jan 24
🕹 Technology Research Academic Publishing AI Military Analysis
  1. The SCMP report falsely claimed a link between Baidu and the Chinese military, resulting in a significant financial impact on Baidu.
  2. The Chinese journal paper discussed theoretical ideas, not real 'military AI' experiments, and lacked academic rigor in its approach.
  3. The paper's experiments were basic simulated scenarios, not real tests, and did not provide actionable insights or findings for military application.

Former econ official exhorts confidence in recent policymaking

45 implied HN points • 14 Oct 24
🇺🇸 U.S. Politics Economic Policy
  1. The Chinese government is boosting its economy with a series of new policies. These changes aim to address various economic challenges and restore confidence among investors.
  2. A key focus is on improving support for private companies and addressing issues like local government debt. Recent measures are designed to create a healthier environment for businesses to thrive.
  3. Looking ahead, more specific policies are expected to be introduced. The government encourages collaboration and responsiveness to market needs to ensure effective economic recovery.
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Chinese report finds broad freedom for military activities in South China Sea

41 implied HN points • 19 Oct 24
🌍 World Politics International relations Military Affairs Conflict Studies Geopolitics
  1. China has not set clear rules against foreign military activities in the South China Sea, allowing various countries to operate freely within international law.
  2. The South China Sea is a major route for global trade, with many merchant ships and aircraft passing through, showing that both military and civilian activities coexist in the area.
  3. Despite ongoing disputes between nations over specific territories, the overall freedom of navigation and flight remains intact, and most tensions are managed without significant disruption to commercial passage.

Wang Jisi's public advice for China's foreign policy

37 implied HN points • 30 Oct 24
🌍 World Politics International relations Foreign Policy National Security Diplomatic Relations
  1. China should not make new enemies and should instead focus on its own domestic issues. Keeping peace and developing internally is key for China’s future.
  2. It's important for China to work with its current allies while also improving relationships with others. This will help China gain support and reduce opposition in the world.
  3. China's approach to international relations needs to integrate both domestic and global considerations. What happens inside China can impact how the world sees it.

Ning Gaoning on How Sinochem bought Syngenta

30 implied HN points • 14 Nov 24
💼 Business Mergers Acquisitions Corporate strategy Finance Global Markets
  1. Ning Gaoning played a key role in significant mergers and acquisitions in China. His leadership at major companies helped shape the chemical industry in the country.
  2. The acquisition of Syngenta by ChemChina was the largest overseas buy by a Chinese company, costing over $43 billion. This move aimed to upgrade China's agricultural technology and meet international standards.
  3. Financing large acquisitions is complex and required careful planning. ChemChina successfully collaborated with Sinochem to secure funding through a combination of loans and bonds for the Syngenta deal.

From Click to Boom: The Political Economy of E-Commerce in China (book excerpt)

26 implied HN points • 12 Nov 24
💼 Business E-commerce Digital economy Political Economy
  1. China's e-commerce market grew rapidly even without strong laws and regulations in place. This shows that sometimes markets can develop in unexpected ways, relying on private platforms to fill the gap left by the government.
  2. The rise of online shopping has changed many aspects of life in China. It has led to a cashless society where even beggars use QR codes to receive donations, showing how deeply e-commerce has integrated into everyday life.
  3. China's unique approach of allowing e-commerce to flourish has led to innovative technologies like mobile payments and AI-driven logistics. This shows that government regulations can sometimes help or hurt the growth of industries.

Former PBOC Research Chief Attempts to Calm Stock Market Frenzy

33 implied HN points • 08 Oct 24
💰 Finance Stock Market Economic Policy Monetary Policy Market Regulation
  1. China's central bank is not directly supporting the stock market, so investors should be careful and avoid risky speculation.
  2. Recent policies by the government have improved investor confidence but real economic improvements will take time and continuous efforts.
  3. It's important for financial institutions to help investors understand risks and ensure that loans aren't misused to invest in the stock market.

"As Israel-Gaza war drags on, China could rise as a peacemaker," Henry Huiyao Wang writes in South China Morning Post

94 implied HN points • 14 Jan 24
🌍 World Politics China Middle East Conflict resolution International relations
  1. China has the potential to be a peacemaker in the Israel-Gaza conflict due to its lack of historical baggage and economic influence.
  2. China's neutral stance and economic partnerships in the Middle East make it a trustworthy mediator.
  3. Dialogue, negotiation, and a two-state solution are emphasized as key steps for achieving peace in the region.

Da Wei on China-U.S. Relations following Xi-Biden meeting in San Francisco

90 implied HN points • 07 Jan 24
🌍 World Politics Geopolitics International cooperation
  1. The meeting between President Xi and President Biden in San Francisco sent a positive message of wanting to manage and stabilize the bilateral relationship between China and the U.S.
  2. Concrete agreements were made between the two countries on issues like fentanyl cooperation, lifting sanctions, people-to-people exchanges, and military dialogues.
  3. There is a need to control the level of confrontation and competition between China and the U.S. to prevent it from escalating into something worse, despite the fundamental negative nature of the relations in recent years.

What is Yi Gang trying to say in his 1st interview after retiring from PBoC?

71 implied HN points • 06 Feb 24
🌍 World Politics Economics Monetary Policy Currency Financial history Central Banking
  1. Yi Gang discussed the historical significance of Jiaozi, the first paper money, and its implications for currency policies
  2. He emphasized the importance of competition under constraints for a successful monetary system
  3. Yi Gang highlighted the necessity of establishing and enhancing modern central bank systems to maintain currency stability

Jia Qingguo calls on Beijing to relax control to encourage non-govt efforts to tell China's story

56 implied HN points • 06 Mar 24
🌍 World Politics China International relations Foreign Policy Communication
  1. General Secretary Xi Jinping emphasizes the importance of telling China's story well to enhance international communication; there's a need for improvement as some countries show a decline in positive views toward China.
  2. Challenges in telling China's story abroad include misconceptions that it's solely the government's responsibility, restrictions on non-govt interactions, and lack of incentives for leaders in foreign affairs.
  3. Recommendations to address these challenges include raising awareness about public participation, reducing restrictions on exchanges, and encouraging retired officials to engage in foreign activities.

Xi Jinping promises a new wave of "reform" since 2013

52 implied HN points • 02 Mar 24
🌍 World Politics Reform China Economy Leadership Foreign Relations
  1. China is planning for further comprehensive reforms, aligning with previous reform initiatives.
  2. Xi Jinping aims to address development challenges through reform and opening up, emphasizing the need for focused, high-quality measures.
  3. The process of implementing the new reform package will involve extensive engagement with various stakeholders to gather input and experiences.

Sharp Decline in the Number of Foreigners in China Demands Serious Attention

105 implied HN points • 11 Jun 23
🌍 World Politics Foreign Relations Global Influence
  1. China must focus on attracting global talents to become a modern strong socialist nation.
  2. There is a significant decline in the number of foreigners from developed countries residing in China.
  3. Efforts are needed to enhance infrastructure, social acceptance, and streamlined procedures to accommodate foreign residents in China and promote positive international interactions.

Jia Qingguo calls for Beijing to attract foreign students to China

37 implied HN points • 07 Mar 24
🌍 World Politics Foreign Relations Education
  1. The number of foreign students coming to study in China, especially from developed countries, has significantly decreased in recent years, presenting challenges for cultural exchanges and international relations.
  2. Challenges like perception issues regarding foreign students, changes in internship and employment opportunities, and academic research procedures contribute to the decline in foreign student enrollment in China.
  3. To address the decline in foreign students, suggestions include raising awareness about the importance of foreign students, improving public opinion, enhancing internship and employment opportunities, and resolving practical issues faced by foreign students.

Chinese banks scrutinize trade payments from Russia: report

37 implied HN points • 21 Feb 24
🌍 World Politics China Russia Banks Payments Sanctions
  1. Chinese banks are closely reviewing trade payments from Russia, causing disruptions for Chinese companies involved in business transactions.
  2. Major Chinese banks, including state-owned ones, are halting payments from sanctioned Russian financial institutions, leading to challenges for traders in various regions of China.
  3. The heightened scrutiny on remittances related to Russia by Chinese banks reflects the changing regulatory environment post third quarter of last year, impacting cross-border transactions and requiring stricter due diligence.

"Improved" censorship, less restrictions in TV & film could help sell more TV sets, says Li Dongsheng

33 implied HN points • 18 Mar 24
💼 Business TV & Film Market Trends Investment Opportunities
  1. Improved censorship and fewer restrictions on TV and film content could make Chinese TV more attractive and boost TV set sales
  2. Chinese TV market is shrinking despite significant advancements in high-definition display technology
  3. Suggestions by Li Dongsheng focus on enhancing content attractiveness, encouraging non-governmental investment, and leveraging new technologies to revitalize the cultural film and television industry

Taipei hid collision between Coast Guard vessel and capsized mainland fishing boat that killed two

33 implied HN points • 17 Mar 24
🌍 World Politics International relations Cross-strait relations Investigation Tensions
  1. Taipei initially concealed a collision between a Coast Guard vessel and a capsized mainland fishing boat, leading to unresolved tension in the area.
  2. The timeline of events was changed, causing doubt and confusion, with discrepancies in the official reports and statements.
  3. The absence of video recording in Taiwan's law enforcement, coupled with the lack of comprehensive evidence, added complexity to the investigation and stirred public debate.

Comparing Women's Choice in Career and Family in China, U.S.

37 implied HN points • 23 Jan 24
🌍 World Politics Women's Rights Workforce Family Dynamics Gender Equality Social Change
  1. In China, women's career development is limited by the 'career funnel' due to traditional culture and lack of flexible work policies.
  2. Historical data shows gradual increase in American women's employment rates over a century, with challenges like gender wage gap persisting.
  3. Comparison between Chinese and American women on family choices reveals differences in marriage rates, age at first marriage, and lifetime childlessness.

China's Premier just consulted these economists. What's their view on the economy?

67 implied HN points • 08 Jul 23
🌍 World Politics China Economic Analysis Fiscal policy
  1. Economists discussed the challenges in China's economy and emphasized the need for strong fiscal and monetary policies with institutional reforms.
  2. There is a call for active participation in global digital economic and trade agreements, establishment of open capital markets, and alignment with international provisions.
  3. Encouraging innovation in the financial market requires a tolerant approach to failure, role of long-term institutional investors, less frequent information disclosure, open capital markets, and stable macro policy orientation.

Zhang Xuefeng's pep talk to anxious undergraduates who wish to move up

64 implied HN points • 22 Jul 23
🚌 Education Career Advice Personal Development Life lessons
  1. University admissions in China heavily favor local candidates over non-local candidates.
  2. The application process for university and graduate school in China involves filling in target schools and majors before test scores are known, which can be confusing.
  3. Choosing a university, major, and program that align with personal strengths and future livelihood is crucial for non-elite undergraduates in China.

Is China Preparing for War?

79 implied HN points • 26 Apr 23
🌍 World Politics China Taiwan Military Defense Relations
  1. The article may have misunderstood routine practices and legal changes in China.
  2. Xi Jinping's speeches contained familiar messaging that aligns with past Chinese leadership.
  3. Understanding the nuances of language and context in Chinese official statements is key to interpreting the situation accurately.

New Top Document Promoting China's Private Economy

60 implied HN points • 19 Jul 23
🌍 World Politics China Economy Policy Private sector International relations
  1. The Chinese government has issued a document to promote and support the development of the country's private economy.
  2. The document emphasizes creating a fair and transparent business environment, protecting property rights, and fostering innovation in private enterprises.
  3. It also encourages social responsibility, international competitiveness, and the active participation of private enterprises in major national strategies.

Mr. Sima Nan goes to the U.S. Embassy

60 implied HN points • 09 Jul 23
🌍 World Politics Diplomacy Geopolitics Public Relations International relations Foreign affairs
  1. Sima Nan, known as a critic of the U.S., attended an Independence Day event at the U.S. Embassy in Beijing, indicating unusual non-governmental interactions between China and the U.S.
  2. The enthusiastic defense and publicizing of the event by Sima Nan may help reduce the taboo around attending such events at the U.S. embassy, bringing unusual attention and normalization.
  3. The diplomat who invited Sima Nan likely earned praise for public diplomacy for bridging divides and facilitating interactions between individuals with differing ideologies.

Chinese, U.S. Readouts of Qin-Blinken meeting in Beijing

60 implied HN points • 18 Jun 23
🌍 World Politics Diplomacy China United States Relations Meetings
  1. The meeting between Chinese and U.S. officials in Beijing emphasized the importance of open communication to stabilize their relationship.
  2. China highlighted the need for the U.S. to respect its core interests, especially regarding the Taiwan issue.
  3. Both sides agreed to continue high-level exchanges, maintain dialogue, and work towards stabilizing China-U.S. relations.

“Freedom of Navigation” Claimed by U.S. is NOT “Freedom of Navigation” under International Law

52 implied HN points • 03 Jun 23
🌍 World Politics International Law Military Strategy
  1. The "Freedom of Navigation" claimed by the United States is different from the concept in international law.
  2. There are limitations to the right of navigation under the United Nations Convention on the Law of the Sea and general international law.
  3. The U.S. uses its "Freedom of Navigation Operations" as a unilateral tool to advance its global strategy, rather than to maintain international maritime order.

AIIB's independence backed by evidence

49 implied HN points • 15 Jun 23
🌍 World Politics International cooperation
  1. AIIB's independence is supported by its loans to India, showcasing its impartiality despite China-India tensions.
  2. AIIB demonstrates international cooperation and transparent governance through partnerships and voting power distribution.
  3. The difference between AIIB and China's Belt and Road Initiative highlights the organization's distinct structure and focus on multilateralism.

Zheng Yongnian on how to address Western public opinion on China: facts, science, and reason

60 implied HN points • 21 Feb 23
🌍 World Politics China International relations Ideology Economics
  1. Understand the formation of narratives to address Western public opinion on China
  2. Respond to Western criticisms with facts, science, and reason instead of a different ideology
  3. Prioritize sustainable development in China, focus on citizens' support, and be open to Western groups for improved understanding

Chinese readout of Wang Yi-Anthony Blinken meeting

45 implied HN points • 19 Jun 23
🌍 World Politics
  1. Choices between dialogue or confrontation, cooperation or conflict are crucial in U.S.-China relations
  2. Understanding and respecting each other's principles and sovereignty is key to stabilizing China-U.S. relations
  3. Both sides must manage differences, avoid strategic accidents, and work towards cooperation in areas of common interest

Yi Gang on China's Digital Yuan

22 implied HN points • 10 Feb 24
💰 Finance Digital Currency Central Banks Payment Systems Regulations
  1. China's digital yuan operates on a 'possession equals ownership' principle, serving both individuals and companies with a retail path, different from other wholesale digital currencies.
  2. The digital yuan does not compete with WeChat Pay or Alipay but complements them, ensuring privacy while complying with anti-money laundering regulations.
  3. The dual-layer structure of China's digital yuan, centralized management, and measures to prevent disintermediation help minimize impacts on monetary policy and ensure balance in the financial system.

Xi tells Macron on camera: we are bosom friends/Zhiyin

49 implied HN points • 07 Apr 23
🌍 World Politics China France International relations Technology Media
  1. French President Macron received extensive positive publicity during his visit to China, with state media highlighting his interactions with Chinese President Xi Jinping.
  2. President Xi expressed willingness to jointly call for a political settlement of the Ukraine crisis with France during a meeting with Macron.
  3. The joint declaration between China and France included commitments to maintain high-level meetings, deepen strategic partnerships, and support cooperation in areas like technology and economic development.

Role of returnee students in education, technological development, and opening up of China

18 implied HN points • 08 Feb 24
🚌 Education International relations Entrepreneurship Research Career development Talent Acquisition
  1. Researching and shaping narrative around Chinese students studying abroad and their contributions in China.
  2. Providing insights into policy of attracting global talent and developing international talent studies.
  3. CCG's commitment to understanding and promoting the role of global talent in contemporary society through extensive policy research and initiatives.

Guan Tao on the yuan's exchange rate as an asset price

15 implied HN points • 13 Feb 24
💰 Finance Financial Stability Monetary Policy
  1. China's Renminbi exchange rate is now seen as an asset price, showing characteristics of asset pricing and requiring an understanding beyond traditional commodity money views.
  2. The flexibility of the Renminbi exchange rate helps release pressure, acts as a shock absorber, and ensures market resilience in the face of fluctuations.
  3. Maintaining a flexible exchange rate policy supports China's pursuit of institutional openness, providing coordination between development and security.