Daily Briefs


Photo : Global Times

11 March 2022 | Friday | China Reader Evening Brief | Vol.1, No. 137

Premier Li Keqiang stresses on high level stability and smaller growth target

Premier Li points to the high-level stability and explains that the target growth rate was appropriate for the current global situation and economic challenges.

IN BRIEF
By Keerthana Nambiar and Avishka Ashok

INTERNAL
Shuffle in Party personnel: Premier Li Keqiang to step down in a year
On 11 March, Premier Li Keqiang announced that he will step down in March 2023. While answering a question about his accomplishments as premier, he said: "This year is the last year of my premiership." Premier Li is the second top official of the Party, President Xi Jinping being the first. The post is limited to two terms and shall be elected by Party members. ("Chinese premier Li Keqiang confirms he will step down next March," The Straits Times, 11 March 2022)

Two Sessions: Premier Li Keqiang stresses high-level stability and smaller growth target
On 11 March, Premier Li Keqiang addressed the press briefing after the end of the fifth session of the 13th National People’s Congress and defended the 5.5 per cent GDP growth target set at the session. Li pointed to the high-level stability and explained that the target growth rate was appropriate for the current global situation and economic challenges. He also referred to the media scepticism regarding the previous growth rate of six per cent, which the country had overshot in 2021. Li said: “Uncertain factors are increasing, and the complicated environment is changing. The 5.5 per cent growth is already equivalent to a country of medium economic size. China's macro policies are formulated on the basis of actual conditions. We have achieved major targets of social and economic development last year, which have laid a solid foundation for this year's growth."  (“Chinese Premier explains 5.5% GDP growth target, says high level stability means improvement,” Global Times, 11 March 2022)

COVID-19: Recent spike in cases worries health experts
On 10 March, the daily report of new COVID cases showed a surge in domestically transmitted infections. The latest wave has affected over 16 provincial-level regions but over 50 per cent of the cases are asymptomatic. Chinese health experts have raised concerns regarding the latest spike in cases and have said that it is “the most severe onslaught” since the first wave in Wuhan. The Chinese society is also portraying a slowdown in its Zero-COVID strategy which enforced strict restrictions on the public for the past two years. However, experts have warned that it is crucial for China to continue with the strategy in order to effectively curb the spread and return to normal living conditions and economic development. (“China sees spike of local silent COVID carriers amid new wave,” Global Times, 11 March 2022)

REGIONAL
South Korea: President Xi congratulates new President-elect Yoon Suk-yeol
On 11 March, the Chinese President Xi Jinping congratulated South Korea’s new President-elect Yoon Suk-yeol after he won the elections on 10 March 2022. President Xi also expressed China’s willingness in working with South Korea and work towards promoting stability and peace in the region. The Chinese Ambassador Xing Haiming also met Yoon in person at the People Power Party’s headquarters and delivered President Xi’s message of goodwill. The Chinese embassy also reported that the ambassador and Yoon discussed the development of China-South Korea relations. (“Chinese President Xi congratulates S.Korean president-elect Yoon, stressing joint efforts in deepening ties,” Global Times, 11 March 2022)

ECONOMY
Low-carbon goals: Central Bank pledges to work on new financial framework
On 10 March, China’s political advisors and members of the 13th National People’s Congress discussed China’s next steps towards reducing its carbon footprint during the Chinese People’s Political Consultative Conference. It was decided that the People’s Bank of China will be enhancing its actions towards supporting the transition of businesses from traditional sources of energy to new and less harmful sources of energy. In an effort to move away from an economy dependent on fossil fuels, the Central Bank will work on a new transitional financial system that can support the transition from fossil fuels to low-carbon energy. He said: “The PBOC has spared no effort in facilitating moves on carbon reduction, and relative financial measures will continue. the PBOC has formulated a low-carbon oriented financial system through which substantial funding has been provided to alternative energy such as wind and solar power via green bonds and loans. This funding support has greatly shored up the growth of these new energy sectors.” (“Central bank to intensify support for carbon goals,” China Daily, 11 March 2022)

INTERNATIONAL
Help for Ukraine: Chinese premier offers aid for "grave" situation
On 11 March, Chinese Premier Li Keqiang called the current situation of Ukraine a "grave" circumstance and offered help for the same. Although China has refused to criticize Russia for invading Ukraine, Premier Li stressed the "positive role" that China intends to play. He also offered China's position as a facilitator between the two sides to resolve the conflict. Additionally, China is sending USD 791,000 worth of necessities and aid to Ukraine. ("Premier Li offers China’s help for ‘grave’ Ukraine situation," The Straits Times, 11 March 2022)

Cyberattacks by US: Chinese computers used by US addresses to target Russia, Ukraine, Belarus
On 11 March, the National Computer Network Emergency Response Technical Team/Coordination Center of China reported that web addresses are cyber-attacking China to gain control of Chinese computers to target Russia, Ukraine and Belarus. The centre has observed this trend since mid-February when many Chinese computers were hacked into from the US and were used to execute cyber-attacks on Russia, Belarus and Ukraine. Apart from the US, major attacks came from the Netherlands and Germany. ("China says U.S. addresses used its computers to launch cyberattacks on Russia, Ukraine," Reuters, 11 March 2022)

Online support for Russia: China bans peace calling posts on social media
On 10 March, Reuters reported that China is keenly monitoring social media platforms like Weibo, WeChat and others for any posts in support of Ukraine. The comments and posts on social media made in support of Ukraine or calling for peace have been removed immediately. Reuters also reported that posts defaming Russian President Vladimir Putin were also removed. ("China censors online Ukraine debate, bars calls for peace," Reuters, 10 March 2022)

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