Chinascope – Page 68

State Security Ministry: “Resolutely Build a Strong Economic Security Fence”

The State Security Ministry has published an article online declaring that it will “resolutely build a strong economic security fence,” echoing a statement from the Chinese Communist Party’s (CCP’s) Central Economic Work Conference held on December 11 and 12.

The article stated that “Currently, the economic sphere is increasingly becoming a crucial battlefield in major power competition. The complexity, severity, and uncertainty of the external environment are rising. To further promote economic recovery, it is necessary to overcome internal difficulties and respond to external challenges. For example, various clichés intending to undermine China’s economy continuously emerge. In essence, they attempt to construct a ‘discourse trap’ or ‘cognitive trap’ regarding ‘China’s decline’ through various false narratives.”

“National security agencies will steadfastly fulfill their duties and mission to safeguard national sovereignty, security, and development interests. They will enhance forward-looking thinking, comprehensive planning, and strategic layout for national security issues in the economic field, implementing a set of measures to maintain economic security. They will resolutely and legally crack down on those illegal and criminal activities in the economic security field that harm national security, creating a safe and stable environment for high-quality development. In coordination with relevant departments, they will continue to effectively prevent and resolve security risks in the economic field, resolutely holding on to the mission of avoiding systemic risks. This will contribute to the comprehensive advancement towards construction of a strong nation and achievement of national rejuvenation through Chinese-style modernization.”

Source: QQ, December 15, 2023
https://new.qq.com/rain/a/20231215A00RVQ00

Briefings | | December 17, 2023 | Economy/Resources Government/Politics

China Will Close Public Access to Court Decision Documents

On November 21, 2023, China’s Office of the Supreme People’s Court issued a “Notice on the Construction of the National Court Judgment Document Database.” It announced that the new “National Court Judgment Document Database” will go live in January 2024. However, it will only offer internal access to court personnel to retrieve judgment documents. Lawyers, legal researchers, and the general public will not have access.

The Supreme People’s Court’s current online system, known as “China Judgments Online,” will stop operation. Many legal practitioners in China view this new development as a big setback for transparency in China’s judicial system. The old system offered legal professionals and the general public to access records during the past 10 years. Since its launch on July 1, 2013, China Judgments Online has accumulated a total of more than 143 million court decisions and has received hundred billion visits.

Source: Radio Free Asia, December 13, 2023
https://www.rfa.org/mandarin/yataibaodao/renquanfazhi/gt-12132023031651.html

Briefings | | December 17, 2023 | Government/Politics Information/Technology

Japan Says China May be Underreporting Increase in CO2 Concentration

Japan’s Ministry of the Environment has questioned the accuracy of China’s reported annual increase in carbon dioxide concentrations. According to Japan’s greenhouse gas observing satellite, IBUKI, China’s annual CO2 concentration increase ranged from 0.6 to 1.2 ppm between 2009-2022. However, international databases calculating China’s emissions based on information published by China, such as fossil fuel consumption and number of power plants, estimate an annual increase of just 0.2 to 0.8 ppm. No such discrepancies were found for Japan and the United States using similar methodology.

Japan claims China’s published information may be inaccurate and will present these findings at the upcoming 28th Conference of the Parties (COP28) to the UN Framework Convention on Climate Change (UNFCCC) in Dubai. A Japanese senior official stated that inaccurate emissions reporting from major emitters like China could undermine global emissions reduction targets, as it skews calculations on progress.

Through satellite observation technology, Japan aims to improve transparency in emissions reporting. Reliable, accurate emissions data is crucial for setting and meeting climate change targets among all nations. Japan intends to keep contributing objective emissions data gathered through satellite monitoring to further emissions transparency, accountability, and broader climate action. The findings question whether China has been forthcoming in reporting its emissions and climate mitigation progress to date.

Source: Radio France International, December 8, 2023
https://rfi.my/AAEy

Briefings | | December 16, 2023 | Geo-Strategic Trend

Economic Bailout with Chinese Characteristics: Controlling Public Opinion on the Economy

China’s economy slowed significantly in 2022 due to multiple headwinds including COVID-19 impacts, strained international supply chains, over-regulation of sectors (e.g. real estate), and weak domestic consumption. Against this backdrop of negative economic news, Chinese authorities have stepped up propaganda efforts and media controls to bolster public confidence.

At a recent meeting, the CCP Politburo stressed the need to “strengthen economic propaganda and public opinion guidance” on the economy. State media like People’s Daily and Xinhua have since published unequivocally-upbeat commentaries, quoting Xi Jinping’s reassurances about progress towards high-quality development and solid progress in overcoming the post-pandemic transition. Such overtly-promotional coverage aims to shape perceptions now that growth has slipped below targets.

Starting in 2021, officials shut down many non-state social media accounts that were speaking negatively about the economy (“black mouth” accounts). In 2022, top finance influencers on the internet – Wu Xiaobo, Ren Zeping and Hong Hao – faced speech bans despite their large numbers of followers. Economic analysts suspect such muzzling of dissenting voices will now further intensify, aiming to suppress doubts about the official claims regarding economic recovery.

Authorities are blaming China’s current economic struggles on external factors like US-China ties and global supply chains. Domestic weaknesses remain apparent – the long-troubled property sector still drags heavily, and Chinese consumers have become thrifty amidst uncertainty conditions.

As 2024 begins, Xi Jinping has clearly prioritized projecting strength and stability regarding growth prospects, given the recent Politburo directive to reinforce propaganda and guidance.

Source: Central News Agency (Taiwan), December 11, 2023
https://www.cna.com.tw/news/acn/202312110286.aspx

Briefings | | December 16, 2023 | Government/Politics

UDN: South Korean President Visits the Netherlands to Form A Chip Alliance

Taiwanese news group United Daily News (UDN) recently reported that South Korean President Yoon Seok-yue is in the Netherlands for a state visit. Yoon’s trip is focused on increasing cooperation between the two countries related to the semiconductor industry — he said that this trip marked a key turning point for the “South Korea-Netherlands Semiconductor Alliance” and that discussing chip cooperation was the “top priority” of his visit.

Yoon stated in an interview that high-tech chips are the lifeblood of the modern global economy, and that South Korea accounts for about 60 percent of the world’s supply of memory chips. He said that the Netherlands is home to semiconductor production equipment manufacturer ASML, and the two countries have been cooperating “in an exemplary manner” for many years, contributing to the stability of the global semiconductor supply chain.

The semiconductor industry is being buffeted by geopolitical turmoil. ASML supplies South Korea’s major chip manufacturers Samsung and SK Hynix. During President Yoon’s visit, he will visit the ASML headquarters. The “South Korea-Netherlands Semiconductor Alliance” is expected to include the countries’ respective governments, enterprises and universities. This is the first time a South Korean head of state has paid a state visit to the Netherlands since 1961, when South Korea and the Netherlands first established diplomatic relations.

Source: UDN, December 11, 2023
https://udn.com/news/story/6811/7631837?from=udn_ch2_menu_v2_main_cate

Briefings | | December 12, 2023 | Geo-Strategic Trend Information/Technology

RFI: Moody’s Under Fire after Negative Rating of China

Radio France Internationale (RFI) recently reported that ratings firm Moody’s faced a barrage of criticism from China after it changed the country’s credit rating outlook to negative. This rating outlook change resulted in a series of similar changes in Moody’s outlook for China’s state-owned banks, insurance companies, and enterprises, including 22 Chinese local government financing vehicles that have issued international bonds. Moody’s also changed the outlook on the credit ratings of China’s two special administrative regions, Hong Kong and Macau, to negative. In the meantime it downgraded its outlook on a number of other companies as well, including the operator of Hong Kong’s subway system.

Chinese government ministries and officials criticized Moody’s move in various public statements and official media articles, saying that China was “disappointed” and believed that Moody’s rating methodology was “flawed” and that its concerns were “unwarranted.” China’s Ministry of Finance issued a long article rebutting Moody’s rating decision, saying that China’s economy is continuing to recover and that the country’s fiscal revenue has maintained a restorative, positive growth rate.

Eric Chan, the Hong Kong government’s second-ranking figure and Chief Secretary for Administration, said that Moody’s decision to downgrade Hong Kong’s credit rating outlook is being used by Western countries, led by the United States, to discredit Hong Kong and the Mainland. He said in a radio interview that Moody’s “only purpose” in its rating decision on Hong Kong was to suppress the development of the Mainland through Hong Kong.

Source: RFI, December 8, 2023
https://tinyurl.com/5wse2bh8

Briefings | | December 11, 2023 | Economy/Resources US-China Relations

China’s Reaction to Trump’s Election Win

Xinhua Commentary Series: Spotlight on the U.S. Presidential Election

Wu Guoguang: Xi Jinping’s Reversal of the Course, Will China’s Transition be Peaceful or Marked with Bloodshed?

Cheng Xiaonong: U.S.-China Strategic Relations Have Crystallized