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Chinese Sovereign Wealth Fund Owns More than 250 U.K. Properties

The Guardian reported that the China Investment Corporation (CIC), Sovereign Wealth Fund that manages China’s foreign exchange reserves, owns more than 250 properties across the United Kingdom.

CIC has more than 970 billion pounds (US $1.2 trillion) of assets. Via its offshore entities, it bought those properties in Britain, including distribution centers that are key to the flow of food and goods in multiple regions including the south-west and south-east of England and the Midlands.

Land Registry records suggest that CIC has spent at least 580 million pounds on UK properties, although the true figure is likely to be significantly higher because some records are incomplete.

Source: The Guardian, January 27, 2023
https://amp.theguardian.com/uk-news/2023/jan/27/china-owns-vast-offshore-network-uk-real-estate-records-reveal

Economy: Local Governments Have No Money

The real estate industry in China is facing a severe problem. People are not buying and as a result, builders do not want to acquire new land from the government for development either. As a result, the local government’s income has dropped dramatically.

An Internet article listed many numbers to show that, in 2022, many local governments were severely short of money.

The article said that, according to data from the Ministry of Finance, from 2017 to 2021, the proceeds from the land use rights concessions was a significant portion (above 30 percent) of the total local government’s revenue. It had reached 8.4 trillion yuan in 2020 (43.59 percent of their total revenue), 8.7 trillion yuan in 2021 and the percent was 41.81. The local governments depend heavily on land sales.

The article then said that in 2022 the land use rights concessions brought in only 3.4 trillion yuan, a 31 percent drop from the previous years’ amount (Editor’s notes: The number does not match. China.com said the land use rights concessions in 2022 were 6.7 trillion yuan, a 23.3 percent drop from the previous year).

The article then discussed the percent completed of planned land use rights transferred in 2022. Among 22 cities, only four cities completed 100 percent or above. Beijing completed only 36 percent. Changchun City in Jilin Province and Chongqing City only completed 16 percent. They couldn’t complete the goal because builders did not want to take on land.

Changchun City sold only 3 pieces of land in 2022, bringing in 780 million yuan in total. In 2021, the city’s public spending budget was 44 billion yuan and revenue from land use rights concessions was 68 billion yuan. The lack of land sales in 2022 left the city facing a big hole in its public spending.

Sources:
1. 51.ca, January 19, 2023
https://info.51.ca/articles/1178169
2. China.com, January 30, 2023
http://house.china.com.cn/2129918.htm#:~:text=%E5%B9%B4%E4%B8%8B%E9%99%8D23.3%25-,%E8%B4%A2%E6%94%BF%E9%83%A8%EF%BC%9A2022%E5%B9%B4%E5%9B%BD%E6%9C%89%E5%9C%9F%E5%9C%B0%E4%BD%BF%E7%94%A8%E6%9D%83%E5%87%BA%E8%AE%A9%E6%94%B6%E5%85%A5,%E6%AF%94%E4%B8%8A%E5%B9%B4%E4%B8%8B%E9%99%8D23.3%25&text=%E8%B4%A2%E6%94%BF%E9%83%A8%E6%95%B0%E6%8D%AE%E6%98%BE%E7%A4%BA%EF%BC%8C2022,%E6%AF%94%E4%B8%8A%E5%B9%B4%E4%B8%8B%E9%99%8D20.6%25%E3%80%82

Government and Leadership: Wang Yi vs. Qin Gang

Wang Yi and Qin Gang were both promoted after the Chinese Communist Party’s (CCP’s) 20th National Congress and both will manage China’s diplomacy work. The Epoch Times published an article commenting on their relationship.

Wang Yi, the former Minister of Foreign Affairs, now sits on the 24-member CCP Central Committee and serves as the Office Manager (办公室主任) of the CCP’s Central Foreign Affairs Commission (中央外事工作委员会) where Xi Jinping is the Chair of the commission. Qin Gang is the new Minister of Foreign Affairs and is expected to become a State Council Member (国务委员, a Deputy-State level official with the same rank as Deputy Prime Minister) appointed by the People’s National Congress in March.

In China, the CCP organ sits above the corresponding state council organ. So Wang Yi in theory is above Qin Gang. However, both of them have direct access to Xi Jinping and therefore, Qin Gang may have autonomy to a certain extent. Hong Kong’s Ming Pao newspaper said that Wang is in charge of Russia and Europe while Qin Gang leads the work with the U.S.

Source: Epoch Times, February 1, 2023
https://www.epochtimes.com/gb/23/2/1/n13920172.htm

Ministry of Education Requested Chinese Students Attending Overseas Universities to Go Back to School

China’s Ministry of Education backed away from its decision a day ago.

On January 28, the Chinese Service Center for Scholarly Exchange under the Ministry of Education announced that for students attending universities overseas, it will not certify their diplomas if they stay in China to take online classes in the 2023 Spring semester. It asked those students to go back to their schools as soon as possible, whereas the school classes may have started or are about to start.

Chinese students were shocked and complained loudly. They didn’t plan to be on campus and thus had no place to live and worse, they might not yet have visa to go to the host country.

On the next day, the Service Center modified its policy to make exceptions for the diploma certification: Those who cannot change their online class option, those who do not have an in-person class option, and those whose classes have started or are about to start and who may not have enough time to apply for a visa, buy airplane tickets, or find housing, can take online classes. They need to save and show the relevant materials (as proof) when applying for a diploma certificate.

Source: VOA, January 30, 2023
https://www.voachinese.com/a/china-stops-recognizing-online-study-orders-kids-back-to-foreign-unis-20230130/6939733.html

Chinese Officials Obstructed Western Reporters from Conducting Interviews about Covid in China

Selina Wang, a CNN reporter stationed in China, was interfered with and even blocked from interviewing Chinese people regarding COVID. Her reporting team went to Guizhou Province to do an interview. When they arrived at Rongjiang County where the Dong ethnic group people live, six local officials “welcomed” them and started following them. Four stayed in the same or nearby hotels. Every morning they were in the hotel lobby waiting for Selina’s team and then followed them. Those followers brought an official with them who would speak in the Dong dialects to the villagers before Selina interviewed them. They refused to tell Selina what they told the villagers.

Realizing they could not have a meaningful interview, Selina’s team drove to a town two hours away. When they went to a hospital and started interviewing people, a man showed up. He claimed he was from the Propaganda Department and asked what Selina was doing there. Selina and her team then drove to a village clinic 30 minutes away. That man and another woman followed them and told the people there not to say anything to Selina.

Selina’s team then went to another place and found a woman who was willing to talk to them about the Chinese New Year. After a few questions, a government staff member arrived in the middle of the interview and took the interviewee away. Selina went to a few hospitals afterwards. However. the government staff members always followed them. For that reason, no one was willing to be interviewed.

An Internet posting also revealed that the Tianshui City Maji District Communist Party Propaganda Department, Gansu Province, issued an “Urgent Notice” to all of its towns, street residential committees, and the District Health Bureau. The notice stated, “ The Provincial Propaganda Department called to inform us that on January 17, three foreign media reporters (2 men and 1 woman), without permission, conducted interview activities in hospitals, health centers, community health service stations, and villages in Lanzhou City and Dingxi City (both are in Gansu Province). They are likely to sneak into Tianshui City to continue their activities tomorrow and the next day (January 18 and 19).”

The notice asked towns, street residential committees, and District Health Bureaus to attach great importance and pay close attention (to this activity). If they found those three people’s whereabouts, they were advised report to the District Party Committee Propaganda Department contact person Dong Binbo immediately. They were told that no one from the medical units, villages, and communities is allowed to accept their interviews or answer their inquiries about the epidemic.

Source:
1. Epoch Times, January 23, 2023
https://www.epochtimes.com/gb/23/1/27/n13916922.htm
2. Radio Free Asia, January 19, 2023
https://www.rfa.org/mandarin/yataibaodao/huanjing/gt-01192023010127.html.

Chinese Satellite Institute Sanctioned by the U.S. for Assisting Russia

Well-known Chinese news site NetEase (NASDAQ: NTES) recently reported that the U.S. Department of Treasury and the State Department simultaneously announced they would sanction China’s Changsha Tianyi Space Technology Research Institute because the Chinese company assisted Moscow’s Wagner Group during the Russo-Ukrainian War. U.S. Secretary of State Antony Blinken said in a statement that the new sanctions will further impede the Kremlin’s ability to arm its war machine. An unnamed U.S. source revealed that the U.S. has evidence that the Changsha Tianyi Research Institute is supporting Russia in the war. According to the official website of the Changsha Tianyi Research Institute, it is the pioneer and leader of China’s commercial remote sensing satellites and scientific research satellites. The core team members of the Institute are mainly from the Chinese Academy of Sciences, China Aerospace Science and Technology Corporation, China Aerospace Science and Industry Group, and other international aerospace talents. Tianyi has participated in nearly 100 aerospace development projects (including satellites, spacecraft and space stations).

Source: NetEase, January 28, 2023
https://www.163.com/dy/article/HS6LSCG305561249.html

UDN: Pyongyang Locked Down for Five Days after Surge of Unidentified Respiratory Cases

United Daily News (UDN), one of the primary Taiwanese news groups, recently reported that NK News quoted a government notice that had been published on January 25th. The notice stated that North Korea’s Pyongyang authorities had ordered a five-day blockade due to “increased cases of unknown respiratory diseases.” The notice from the North Korean authorities did not mention COVID-19, but residents must still stay at home until the end of January 29th, and have to undergo multiple temperature checks every day. Also, Pyongyang residents seem to be hoarding daily necessities. It’s not clear if the rest of North Korea has also imposed a blockade. The North Korean Central News Agency (KCNA) said that it has stepped up publicity campaigns in Kaesong, which is close to the South Korean border, so that all workers can abide by the epidemic prevention regulations in their work and life. North Korea claimed to have defeated the COVID-19 virus in August last year, but it has never confirmed how many people had been infected. It is speculated that this may be due to the fact that North Korea lacked the resources to carry out mass screening. On the contrary, the North Korean authorities chose to publish a “daily number of patients with fever,” but no such cases have been reported since July 29 of last year.

Source: UDN, January 26, 2023
https://udn.com/news/story/6809/6930585

The Australian: Fiji’s New Prime Minister Refuses to Allow China to Train Police Force

A Major Australian newspaper The Australian recently reported in its Chinese Edition that the newly elected Fijian prime minister Sitiveni Rabuka has decided to strengthen military and diplomatic ties with Australia and has ruled out having the Chinese military train Fiji’s military or police force. China’s dominance in the South Pacific has met a major stumbling block. As an important departure from the pro-Beijing foreign policy of his predecessor, Mr. Rabuka acknowledged in his first major diplomatic interview since his victory about a month ago that China’s push into the region posed ongoing dangers. He said that, as far as he was concerned, he knew more about Australians, Americans and New Zealanders than he did about the Chinese. However, the former military commander and leader of two coups warned that Australia can no longer take its relationship with Fiji for granted. Mr. Rabuka acknowledged that he was appalled by the development of China’s influence in Fiji during his predecessor’s 16 years in power. He pledged that his government would not accept a Solomon Islands-style agreement to allow China to train Fiji’s police or army. He explained that Fiji has two very friendly agreements: a defense cooperation program with Australia and a military assistance program with New Zealand. He added that, “The interoperability of our forces is also very important.” Mr. Rabuka added that he would reverse the deal with Beijing, and that he would also exclude the sale of key areas of Fiji’s infrastructure, such as airports and seaports, to China or to any other foreign interests. Hi did acknowledge, however, that the new government will continue to receive “technical assistance” from Taiwan.

Source: The Australian (Chinese Edition), January 25, 2023
https:// cn.theaustralian.com.au/2023/01/25/81143/