IN BRIEF
By Dincy Adlakha, Keerthana Nambiar and Avishka Ashok

INTERNATIONAL
China celebrates 50 years of return to UN seat 
On 25 October, the Chinese President Xi Jinping held an online meeting with the UN Secretary-General Antonio Guterres to celebrate 50 years of China’s position in the United Nations. President Xi stressed the One-China principle and said: “There’s only one system, one order, one set of rules, and any country should act within that framework, not do its own things with its own rules. Major powers should mutually respect and co-exist in peace, which is in line with the common interests of the international society.” Guterres also appreciated China’s help in poverty reduction, covid-19 pandemic, climate change and conservation of biodiversity. (“Xi, Guterres meet virtually, express desire to deepen cooperation on 50th anniversary of PRC’s restoration of UN lawful seat,” Global Times, 25 October 2021)

China-Russia wraps up the first “Joint-Sea-2021” in the Pacific Ocean
On 24 October, People’s Daily reported that the Chinese and Russian navies wrapped up the first joint maritime cruise in the western Pacific Ocean. The “Joint Sea-2021” exercise started on 14 October and kicked off on 17 October. A combined ship formation conducted drills of joint navigation, joint maneuver and practical use of weapons were part of the seven-day cruise. The Chinese defense ministry said, that the exercise were aimed to “further develop the China-Russia comprehensive strategic partnership in the new era, enhance the joint action capabilities of both parties and jointly maintain international and regional strategic stability.” (“Chinese, Russian navies wrap up first joint cruise,” People’s Daily, 24 October 2021: “Russian, Chinese warships hold first joint patrols in the Pacific,” Reuters, 24 October 2021)

China responds to British Foreign Secretary’s statements; terms as “irresponsible remarks”
On 24 October, China’s spokesperson in the Chinese Embassy in Britain opposed the remarks made by the British Foreign Secretary Liz Truss on Hong Kong electoral system. The spokesperson said: “China urges the UK side to stop political manipulation on Hong Kong-related issues and stop interfering in China's internal affairs in any way.” The spokesperson put faith in the “One Country, Two Systems” approach and emphasized on improving the electoral system of Hong Kong by letting “patriots” govern the management. The UK Foreign Secretary had previously issued a statement voicing concerns over the disqualification or resignation of District Councillors in Hong Kong. China sees this remark as external interference in internal matters. (“China strongly opposes British official's irresponsible remarks on HK affairs: embassy,” People’s Daily Online, 24 October 2021)

INTERNAL
China lays down a new law for land border protection
On 24 October, The People’s Republic of China passed a law to strengthen border protection taking effect on 1 January. The Land Borders Law is amid the protracted standoff with India and the spillover effects from Taliban - controlled Afghanistan and the spread of COVID-19 from Southeast Asia. The law says it will “take effective measures to resolutely protect territorial sovereignty and land border security.” The law specifies that China will close its border if a war or other armed conflict nearby threatens border security. (“China strengthens land border protection with new law,” Reuters, 24 October 2021)

Standing Committee adopts pilot property tax reforms in select areas
On 24 October, the Standing Committee of National People’s Congress (NPC), which is China’s top legislature, adopted the decision to authorise the State Council to launch a property tax reform in some regions. This tax will be levied on all types of real estate which even includes non-residential properties (unlike the previous property tax). The new tax also applies to land owned by the state for construction purposes. Experts have said that the tax curbs speculation and systemic risks. It will be the first time that such varied properties are included for taxation. The program is set to run for five years and it aims to enhance rational consumption of houses and land resources. (Zhang Dan and Qi Xijia, “China to overhaul housing market,” Global Times, 24 October 2021)

Global Times suspects Chinese data being leaked to US through chip makers
On 24 October, Global Times published an article that detailed the suspicious behaviour of major chip makers after an official from the US Commerce Department hinted at compulsory measures to obtain sensitive information. The US government has made a request asking for voluntary sharing of data from chip-making firms in China and Taiwan. The Taiwan Semiconductor Manufacturing Company (TSMC) has responded that it shall share the requested data with the US by 8 November. The article suspected that these demands for data are beyond the regular demands for the purpose of market regulation. They are demands for Chinese sensitive information for many major chipmakers and such a demand violates the business confidentiality as imposed by Chinese laws. (“GT Voice: Chipmakers risk violating Chinese laws over US’ hegemonic data request,” Global Times, 24 October 2021)

China takes strict measures to contain the new wave of COVID-19
On 23 October, China.org reported that a new wave of COVID-19 infections has hit various regions in China. The local authorities are taking strict measures to contain the virus and upholding the country’s principle of putting people’s lives and health first. The transmitted confirmed COVID-19 cases are in 10 provincial-level regions, including Shaanxi, inner Mongolia, Gansu, Ningxia, Qinghai, and Beijing. The Ministry of Culture and Tourism released a circular saying, “the circuit breaker mechanism for trans-provincial tourism should be enforced vigorously.” The Ministry further added that the “tour group size needs to be put under strict control and operation of tourist trains is suspended.” (“China takes swift measures to contain new COVID-19 infections,” China.or.cn., 23 October 2021: “China tightens epidemic measures in culture, tourism industry,” China.org.cn., 24 October 2021)

Communist Party of China releases plan to achieve carbon neutrality
On 24 October, the Communist Party of China Central Committee and the State Council released a document mapping their efforts to achieve carbon peaking and carbon neutrality goals as per the new development philosophy of China. The document highlighted specific targets to be achieved by the party and the local bodies in the coming decades. According to the document titled “Working Guidance for Carbon Dioxide Peaking and Carbon Neutrality in Full and Faithful Implementation of the New Development Philosophy," China is “committed to a green, low-carbon and high-quality development path that gives primacy to ecological civilization.” According to the document released before the latest issue, China is set to peak its carbon emissions by 2030 and should be able to manage, stabilize and then decline by 2060. (“China Focus: China maps path to carbon peak, neutrality under new development philosophy,” Xinhua Net, 25 October 2021)

People Bank of China injects 200 billion yuan into the banking system
On 25 October, the People’s Bank of China used a seven-day reverse repo and injected 200 billion yuan or USD 31.3 billion into the financial system. The interest for the period is set at 2.2 percent. The move aims to retain liquidity and maintain stability in the system. According to the China Foreign Exchange Trade Systems (CFETS), the Chinese currency also strengthened its position against numerous other currencies such as the USD, the euro and the yen. When put against the Special Drawing Rights basket, the yuan climbed 0.39 points to achieve 98.73 points. (China's central bank conducts 200 bln yuan of reverse repos,” Xinhua Net, 25 October 2021; Chinese yuan strengthens last week,” Xinhua Net, 25 October 2021)

TECHNOLOGY
New Shijian-21 satellite launches successfully
On 24 October, China launched a new satellite called Shijian-21 from a Long March-3B carrier rocket. The satellite was launched from the Xichang Satellite Launch Center. The center is located in southwest China’s Sichuan Province. The satellite is specifically designed to test and verify technologies to mitigate the space debris. This was the 393rd mission to be conducted through Long March carrier rockets. The satellite was launched from the rocket and entered the rocket without any difficulties. (“China launches Shijian-21 satellite,” Xinhua Net, 24 October 2021)

Chinese tech companies rebrand their NFT offerings to ‘digital collectibles’
On 25 October, South China Morning Post reported that the Chinese technology giants- Alibaba Group Holding and Tencent Holdings will rename their non-fungible token (NFT) offerings as “digital collectibles”. NFTs are referred to the units of data stored on a blockchain that guarantees each digital asset is unique, immutable, and secure. With Beijing’s ongoing campaign which prevents ‘irrational expansion of capital’ in the Chinese tech sector, the rebranding actions by Alibaba and Tencent are to avoid any kind of conflicts with the State. (“Alibaba, Tencent rebrand NFT offerings as ‘digital collectibles’ amid Beijing’s scrutiny of new virtual asset market,” South China Morning Post, 25 October 2021)