China to push supportive monetary policy as financial risks ease: central bank chief；China wants to make it easier to get married, and harder to divorce
Chinese developers, cities tempt homebuyers with perks like private-jet shares, residency
Welcome to this issue of The China Brief. Today is August 25, 2024. Here at The China Brief, we bring you the latest news on China's politics, economy, and society from global media sources, along with exclusive expert analysis. If you find our content helpful, please subscribe to our newsletter.
China to push supportive monetary policy as financial risks ease: central bank chief
South China Morning Post
China's central bank chief, Pan Gongsheng, announced that the country is addressing financial risks while maintaining supportive monetary policies to foster economic recovery. Local government financing platforms have reduced their debt, and the number of high-risk banks has significantly decreased. Despite a protracted property market slump and weak credit demand, China's GDP growth remains supported by policy measures. The People's Bank of China has cut interest rates and aims to stabilize the yuan amid capital outflow pressures. Analysts predict a challenging consumption recovery, but the government's growth target of around 5% for the year remains achievable with ongoing support.
https://www.scmp.com/economy/china-economy/article/3275813/china-push-supportive-monetary-policy-financial-risks-ease-central-bank-chief?utm_source=rss_feed
China wants to make it easier to get married, and harder to divorce
South China Morning Post
China is revising marriage regulations to encourage marriage and discourage divorce amidst a declining birth rate. The draft amendment allows couples to marry using only ID cards and introduces a 30-day cooling-off period for divorce applications at registry offices. Critics argue this may prolong unhappy marriages and limit personal freedom. Young people, facing high living costs and a challenging job market, are increasingly opting out of marriage, viewing it as outdated. Government initiatives to boost birth rates include financial incentives, but many remain unconvinced of the benefits of marriage, seeing it as a potential trap.
https://www.scmp.com/news/china/article/3275667/china-wants-make-it-easier-get-married-and-harder-divorce?utm_source=rss_feed
Chinese developers, cities tempt homebuyers with perks like private-jet shares, residency
South China Morning Post
Cash-strapped developers in mainland China are resorting to aggressive incentives, such as private jet stakes and flight lessons, to attract homebuyers amid a struggling property market. With price controls limiting sales price reductions, developers are offering valuable perks as effective discounts. Local governments are also easing residency rules for non-locals and issuing measures to boost liquidity. Despite these efforts, home prices continue to decline, with a 14th consecutive month of decreases reported in July. Analysts predict ongoing price pressures without broader central government support, particularly affecting second- and lower-tier cities.
https://www.scmp.com/property/article/3275696/chinese-developers-cities-tempt-homebuyers-perks-private-jet-shares-residency?utm_source=rss_feed
Chinese AI apps eye overseas markets for growth amid tough competition, regulation at home
South China Morning Post
Chinese AI app developers are shifting focus to international markets due to fierce domestic competition and challenges in monetizing services. While over 100 Chinese AI companies are expanding abroad, firms like Alibaba and ByteDance are launching tailored products for regions such as Southeast Asia. Companies like Motiff and Kunlun Tech are also exploring global opportunities, adapting their offerings to local markets. However, geopolitical tensions have prompted some developers to disguise their origins and comply with local regulations. Despite challenges, Chinese firms excel in consumer-facing applications and commercial strategies.
https://www.scmp.com/tech/tech-trends/article/3275747/chinese-ai-apps-eye-overseas-markets-growth-amid-tough-competition-regulation-home?utm_source=rss_feed
Chinese Scientists Extract Water From Lunar Soil
Yahoo US
Scientists in China have developed a new method to extract water from lunar soil, using samples from the 2020 Chang'e 5 mission. The research, published in the journal The Innovation, indicates that lunar soil contains high concentrations of hydrogen and oxygen, which can produce water vapor when heated above 1,800 degrees Fahrenheit. This process also yields iron and ceramic glass. The researchers estimate that one ton of lunar soil could generate about 13 gallons of water. They suggest using sunlight to heat the soil and propose that the byproducts could aid in building lunar bases. While further studies are needed to assess the practicality of this technique, the findings represent a significant advancement in lunar exploration.
https://www.yahoo.com/news/chinese-scientists-extract-water-lunar-134550344.html
PLA brass in Russia a day after Chinese Premier Li Qiang met Vladimir Putin at Kremlin
South China Morning Post
A Chinese PLA delegation, led by Ground Force Commander Li Qiaoming, visited Moscow for military cooperation talks following a meeting between Russian President Putin and Chinese Premier Li Qiang. Discussions focused on military collaboration but specifics were not disclosed. This visit coincides with heightened military tensions due to Ukrainian incursions into Russian territory. Despite China's claims of neutrality in the Ukraine crisis, the military partnership with Russia has intensified amid US sanctions, featuring joint exercises and air patrols. The visit reflects ongoing efforts to solidify China-Russia relations amidst regional security challenges.
https://www.scmp.com/news/china/diplomacy/article/3275777/pla-brass-russia-day-after-chinese-premier-li-qiang-met-vladimir-putin-kremlin?utm_source=rss_feed
US scientist convicted for China ties considering jobs in Hong Kong, mainland
South China Morning Post
Charles Lieber, a retired Harvard chemist and nanoscientist, is seeking work opportunities in mainland China and Hong Kong after being convicted for failing to disclose ties to a Chinese talent program. He has applied for permission to travel to Hong Kong and expressed interest in starting a research group that benefits global science. Despite his past legal issues related to the US-China tensions in research, Lieber remains a highly regarded figure in nanoscience, with significant contributions to the field. He was sentenced to time served and continues to publish research papers post-retirement.
https://www.scmp.com/news/china/science/article/3275763/us-scientist-convicted-china-ties-considering-jobs-hong-kong-mainland?utm_source=rss_feed
China’s deadly divide-and-rule tactics in Myanmar risk shock waves across region
Guardian
Myanmar, plagued by ethnic and ideological divisions, faces an escalating crisis following the 2021 military coup. With the military junta losing control over two-thirds of the country, a civil war has intensified, leading to severe humanitarian consequences, including thousands of deaths and millions displaced. The United Nations reports increasing war crimes and systematic military violence against civilians. The situation is further complicated by the involvement of China, which has adopted a divide-and-rule strategy, backing various ethnic groups while simultaneously supplying arms to the junta. China's approach raises concerns about regional stability, given its significant border with Myanmar and economic interests. The International Crisis Group warns that Myanmar's fragmentation appears inevitable, as both the junta and opposition forces lack a unifying vision. To avert disaster, the international community, including ASEAN and former colonial powers like Britain, must engage with local ethnic groups while balancing the risks of legitimizing potentially abusive factions. Enhanced sanctions and diplomatic pressure are essential to address the escalating crisis and prevent Myanmar from descending into chaos.
https://www.theguardian.com/commentisfree/article/2024/aug/25/chinas-deadly-divide-and-rule-tactics-in-myanmar-risk-shock-waves-across-region
China says will voice 'serious concerns' on Taiwan and security in U.S. talks
Japan Times
China plans to express "serious concerns" regarding Taiwan and other security issues during upcoming talks with the United States, as reported by state media. A senior Foreign Ministry official indicated that China will clarify its stance and make demands related to Taiwan, development rights, and strategic security. U.S. national security adviser Jake Sullivan is scheduled to visit Beijing from Tuesday to Thursday to meet with Chinese Foreign Minister Wang Yi, aiming to manage tensions ahead of the U.S. elections in November.
https://www.japantimes.co.jp/news/2024/08/25/asia-pacific/politics/us-china-taiwan-jake-sullivan-visit/
China’s Kuaishou steps up monetisation of AI video generation services with new price plan
South China Morning Post
Kuaishou Technology, a Chinese short-video app operator, has introduced a monthly subscription service for its Kling AI video generation model, priced at 19 yuan (US$2.66) for the first month and 58 yuan thereafter. This "gold member" plan allows users to generate approximately 3,300 photos and 66 videos monthly, positioning itself as the most affordable option in the competitive AI video generation market. Kuaishou, a major competitor to Douyin (the Chinese version of TikTok), is among several Chinese tech firms looking to monetize AI technologies amid a price war in the industry. The company also offers premium plans for higher photo and video generation limits. Kuaishou's Kling model, which can create videos of up to 2 minutes long in 1080p resolution, has already gained over one million users and produced over 10 million videos. The company recently released China’s first AI-generated fantasy short drama, which garnered over 50 million views shortly after its debut.
https://www.scmp.com/tech/big-tech/article/3275761/chinas-kuaishou-steps-monetisation-ai-video-generation-services-new-price-plan?utm_source=rss_feed
China keeps door firmly closed to Japanese seafood imports
Japan Times
China has maintained a strict import ban on Japanese fishery products for over a year, protesting Japan's discharge of treated water from a damaged nuclear power plant into the ocean. Although Japan insists the process is safe, Chinese officials continue to label the treated water as 'nuclear-contaminated.' Discussions between Tokyo and Beijing are ongoing, but there is currently no indication of a resolution to the conflict.
https://www.japantimes.co.jp/business/2024/08/24/china-ban-japan-seafood/
Stay informed about the latest news, analysis, and policy briefs from across the globe related to China with the China brief. Our team aggregates, synthesizes, and summarizes the most important information from various sources, including media outlets, think tanks, government agencies, and industry experts.
Our mission is to provide you with easily accessible and critically valuable information tailored to your specific field of interest. We understand the significance of staying up-to-date on developments related to China and aim to make this information comprehensible for our readers.
Join the conversation and stay informed about the latest news and developments related to China by visiting our website at www.6dobrief.com