Jan-May Goods Trade at RMB 17.5 Trln - Wang Yi BRICS Pitch in Russia
Here are the key reports and articles that I found noteworthy from the People's Daily’s edition on Tuesday, June 11, 2024.
Page 1: Getting back from the three day Dragon Boat festival, there are some useful reports in the paper today. But it’s still very limited.
First, there’s a new book out. This one covers Xi Jinping’s discourses (English report) on the issue of energy security. The report says that “Xi's discourses in this regard are crucial for ensuring both the development of new energy and national energy security, promoting the energy revolution, building up China's strength in energy, and securing a safe and reliable energy supply for advancing Chinese modernization.”
Next, there’s a report informing that for the January to May period:
China’s total import and export of goods was 17.5 trillion yuan, a year-on-year increase of 6.3%
Exports were 9.95 trillion yuan, a year-on-year increase of 6.1%; imports were 7.55 trillion yuan, a year-on-year increase of 6.4%
ASEAN was China’s largest trading partner. Total trade was estimated at 2.77 trillion yuan, a year-on-year increase of 10.8%
Trade with BRI countries was 8.31 trillion yuan, a year-on-year increase of 7.2%
China exported 5.87 trillion yuan of mechanical and electrical products, a year-on-year increase of 7.9%, accounting for 59% of the total export value
The value of automatic data processing equipment and its parts was 554.46 billion yuan, a year-on-year increase of 9.9%; the value of integrated circuits exports were 444.73 billion yuan, a year-on-year increase of 25.5%; and the value of automobiles were 329.7 billion yuan, a year-on-year increase of 23.8%.
Third, there is data (English report) from the Ministry of Culture and Tourism informing that there were 110 million domestic tourist trips made during the three-day Dragon Boat Festival holiday, up 6.3 percent from the same period last year. Domestic tourists spent 40.35 billion yuan (about $5.57 billion) during the holiday from Saturday to Monday, up 8.1 percent year on year.
Page 2: There is a report informing that cities and provinces have eased restrictions since the central leadership announced an easing of policies with regard to the minimum down payment ratio for first and second home loans.
Page 3: There’s a report on Wang Yi’s visit to Russia for the BRICS foreign ministers’ meeting. I’ll look at the full speech from MoFA’s website.
In his speech, Wang said that “over the past year, BRICS cooperation has been remarkable, rapid and strong. We have bravely stood at the forefront, launching a new era of unity and self-reliance for the ‘Global South” with the expansion of our membership. The BRICS’ appeal has continued to grow, its attraction has continued to increase, and its golden signboard has become brighter. Our mutual achievements have led to BRICS, post-expansion, representing nearly half of the world's population, one-fifth of global trade, and, in terms of purchasing power parity, surpassing the G7 in total economic output. In the first quarter of this year, China's imports and exports to BRICS countries increased by more than 11% year-on-year, and BRICS has accelerated against the wind. United as one, we held a special summit of BRICS leaders on the Palestinian-Israeli issue and jointly defended the rights of developing countries in multilateral mechanisms like the G20, making the BRICS voice even stronger.” 过去一年，金砖合作有亮度、有速度、有力度。我们勇立潮头，以扩员开启“全球南方”联合自强新纪元。金砖感召力不断上升，吸引力持续增强，金字招牌越来越亮。我们相互成就，扩员后的金砖占全球人口近一半、全球贸易五分之一，经济总量按购买力平价计算已超七国集团。今年一季度，中国对金砖国家进出口同比增长超过11%，金砖逆风跑出了加速度。我们团结一心，召开金砖国家领导人巴以问题特别峰会，在二十国集团等多边机制中共同捍卫发展中国家权益，金砖的声音更加有力.
“At present, some major countries are reviving the Cold War mentality, forming geopolitical ‘small circles,’ openly resisting United Nations Security Council resolutions, and undermining the authority of multilateral mechanisms. The politicisation and securitization of economic issues are rampant, with unilateral sanctions and technological barriers on the rise. In the face of the struggle between forces promoting world multipolarity and those maintaining unipolar hegemony, and the clash between economic globalization and ‘de-globalization’, we should follow the trend of history, stand on the side of justice, and make the right choices. Looking to the future, ‘Greater BRICS’ cooperation must undertake great responsibilities and take significant actions. The strategic significance and political effects of greater BRICS cooperation should be fully leveraged to make BRICS a new type of multilateral cooperation mechanism based on emerging markets and developing countries, and open and inclusive to the world.” 立足当下，金砖要在百年变局中站得高、看得远。当前，个别大国重拾冷战思维，拼凑地缘政治“小圈子”，公然抵制联合国安理会决议，侵蚀多边机制权威性。经济问题政治化、泛安全化甚嚣尘上，单边制裁、科技壁垒有增无减。面对促进世界多极化和维护单极霸权两种力量的较量，面对经济全球化和“逆全球化”两种取向的碰撞，我们应顺应历史潮流，站在公道正义一边，作出正确抉择。放眼未来，“大金砖”要有大担当、大作为。我们要充分发挥“大金砖”的战略意义和政治效果，将金砖打造成基于新兴市场和发展中国家、面向全球、开放包容的新型多边合作机制。
Wang made three points then:
“First, we must strengthen our confidence in multilateralism and draw a new blueprint for the future development of the world. We must continue to hold high the banner of multilateralism, take the lead in maintaining the international system with the United Nations at its core, resolutely resist acts that undermine the international order and trample on international rules, and promote the realisation of an equal and orderly world multi-polarization and inclusive economic globalisation.” He talked about strengthening coordination and cooperation with regard to global governance. “We must advocate for placing development at the centre of the international agenda and urge developed countries to fulfil their commitments of development aid and climate financing. We should actively participate in new areas of global governance, promote capacity building in the digital economy and artificial intelligence among developing countries, and ensure equal participation and equal benefits.” 一是要坚定对多边主义的信心，为全球未来发展擘画新蓝图。我们要继续高举多边主义旗帜，带头维护以联合国为核心的国际体系，坚决抵制破坏国际秩序、践踏国际规则的行径，推动实现平等有序的世界多极化和普惠包容的经济全球化。今明两年，我们将迎来联合国未来峰会、联合国成立80周年等重要国际议程，金砖国家将相继举办二十国集团峰会、联合国气候变化大会等重大活动。我们要加强协调配合，点亮“南方时刻”。要推动将发展置于国际议程中心位置，敦促发达国家履行发展援助、气候融资等承诺。要积极投身新疆域全球治理，促进发展中国家数字经济、人工智能等能力建设，确保平等参与、平等受益.
Second, we must strengthen our determination to safeguard peace and security and provide fresh impetus for the political settlement of international hotspot issues. History has repeatedly proved that the Cold War mentality, camp confrontation, and external interference cannot solve problems, but will create bigger problems and even crises. No matter how complicated the situation is, we must not give up dialogue and consultation. No matter how acute the conflict is, we must insist on political settlement. At present, the war in Gaza is testing the sense of justice and conscience of humanity. We must promote an immediate comprehensive and sustainable ceasefire, ease the humanitarian crisis, and prevent the spillover of the conflict. We must support Palestine in becoming a full member of the United Nations, support the restoration of the legitimate rights of the Palestinian nation, restart talks towards a ‘two-state solution’ in order to achieve lasting peace in the Middle East. The Ukrainian crisis is still continuing. China supports the convening of a real peace conference recognized by both Russia and Ukraine, with equal participation by all parties and fair discussion of all peace plans. The BRICS should adhere to independence, objectivity and fairness, promote the international community to gather a consensus on peace, and oppose taking the opportunity to incite a ‘new Cold War’.” 二是要坚定维护和平安全的决心，为政治解决国际热点问题提供新助力。历史反复证明，冷战思维、集团对抗、外部干涉解决不了问题，反而会制造出更大的问题甚至危机。形势再复杂，也不能放弃对话协商。冲突再尖锐，也要坚持政治解决。当前，加沙的战火考验着人类社会的正义与良知。我们要推动立即实现全面、可持续停火，缓解人道主义危机，防止冲突影响外溢。要支持巴勒斯坦成为联合国正式会员国，支持恢复巴勒斯坦民族合法权利，重启“两国方案”，实现中东地区持久和平。乌克兰危机仍在延宕，中方支持适时召开俄乌双方认可、各方平等参与、公平讨论所有和平方案的真正和会。金砖应坚持独立自主、客观公正，推动国际社会汇聚和平共识，反对借机煽动“新冷战”.
Third, we must firmly uphold the original intention of BRICS of openness, inclusiveness, and win-win cooperation, elevating practical BRICS cooperation to a new level. We should fully leverage the resources and market advantages of BRICS to enhance and upgrade practical cooperation, ensuring fruitful outcomes at the BRICS Kazan Summit in October. It is necessary to give play to the supporting role of financial and trade cooperation. Create a large economic and trade market and promote trade and investment facilitation. Efforts should be made to achieve breakthroughs in local currency settlement and cross-border payment cooperation through financial channels as soon as possible. The New Development Bank should diversify its financing currencies and increase the proportion of local currency investments and financing. A report on improving the international monetary and financial system should be released to maintain global economic and financial stability. We must play the role in safeguarding energy and food security cooperation. BRICS members include major importers and exporters of bulk commodities such as oil, wheat, and soybeans. We must jointly oppose the politicisation and weaponization of energy and food security issues, explore the establishment of a more stable BRICS supply and demand system, and maintain the safety and smoothness of the global production and supply chain. Promote a cleaner and more sustainable global energy system. We must harness the driving force of innovation cooperation to create highlights in areas such as artificial intelligence, new industrialization, deep-sea resources, digital education, and connectivity. China has established the ‘China-BRICS AI Development and Cooperation Center’ to promote cooperation in industrial alignment and capacity building, and welcomes active participation from all BRICS countries. We should leverage the role of cultural exchanges as a bond of people's hearts…” In this, he talks about GCI and June 10 being designated by the UN as the International Day for Dialogue among Civilizations. This was a Chinese proposal. 三是要坚定开放包容、合作共赢的金砖初心，让金砖务实合作迈上新台阶。充分发挥大金砖的资源、市场等优势，推动金砖务实合作提质升级，确保10月金砖喀山峰会取得丰硕成果。要发挥金融、贸易合作的支撑作用。打造经贸大市场，促进贸易投资便利化。推动财金渠道在本币结算和跨境支付合作上尽快取得突破。推进新开发银行融资币种多元化并扩大本币投融资比例。发布关于完善国际货币金融体系报告，维护国际经济金融稳定。要发挥能源、粮食安全合作的保障作用。金砖成员涵盖石油、小麦、大豆等大宗商品主要进出口国，要共同反对能源和粮食安全问题政治化、武器化，探索建立更稳固的金砖供需体系，维护全球产供链安全畅通。推动全球能源体系更加清洁、更可持续。要发挥创新合作的驱动作用，共同打造人工智能、新型工业化、深海资源、数字教育、互联互通等领域合作亮点。中方成立了“中国—金砖国家人工智能发展与合作中心”，推动加强产业对接、能力建设等合作，欢迎金砖各国积极参与。要发挥人文交流的民心纽带作用。新成员的加入提升了金砖多元文明的代表性，千年文明交流焕发新活力。中方支持主席国举办金砖运动会、文化节等活动，在友城、媒体、青年、妇女、治国理政等领域开展更灵活多样的合作。经中方提议，联合国决定将6月10日设立为文明对话国际日。今天恰逢首个国际日。中方愿秉持习近平主席提出的全球文明倡议，同金砖伙伴一道，尊重文明的多样性，弘扬全人类共同价值，实现文明互学互鉴、共同进步。谢谢大家。
At the sidelines of the BRICS meet, Wang also met with Russian Foreign Minister Sergei Lavrov. Xinhua reports:
“Developing China-Russia relations is a strategic choice made by both sides based on respective fundamental interests, aligning with global trends and the tide of the times, Wang said, adding that it is not targeted at any third party and will not be disturbed by external forces. China is willing to work with Russia to maintain strategic focus, explore cooperation potential, respond to external pressures, and promote the sound and sustained progress of bilateral relations, he said. Calling BRICS an important platform for unity and cooperation among emerging markets and developing countries, Wang said the expanded BRICS mechanism will play a crucial role in creating a more just and reasonable global governance system. Wang stressed that China is ready to fully support Russia's work as the BRICS chair, work together to consolidate the BRICS strategic partnership, promote the unity and self-improvement of the Global South, make a more powerful voice for upholding multilateralism and promoting common development, so that ‘greater BRICS cooperation’ can be well begun.”
Xinhua’s report on Wang’s meeting with Iran’s Acting Foreign Minister Ali Bagheri Kani says:
“Wang said that during the current period, the Iranian nation has undergone a significant test. As a comprehensive strategic partner, China supports the Iranian government and people in adhering to their established domestic and foreign policies, maintaining independence, sovereignty, stability, and development, and wishes Iran a successful presidential election. Wang said that through joint efforts, China-Iran relations have maintained healthy and steady development, benefiting from the long-standing traditional friendship and high-level mutual political trust between the two countries. Currently, China-Iran relations are at a crucial stage of building on the past and opening up the future, Wang noted, adding that China stands ready to work with Iran to view bilateral relations from a strategic perspective, steer the development course of bilateral relations, solidly advance pragmatic cooperation in various fields, comprehensively deepen coordination in regional and international affairs, and contribute more to regional and world peace and stability. China will continue to support Iran and Saudi Arabia in improving their relations and achieving lasting good neighborliness and friendliness in the region, he said.”
Xinhua’s report on Wang’s meeting with Ethiopian Foreign Minister Taye Atske Selassie says:
“Over the past two years, Ethiopia's domestic peace process has progressed orderly, and its economic and social development achievements have been remarkable, Wang said, adding he believes that the Ethiopian government and people will achieve even greater success on the path of peace, development, and prosperity. China-Ethiopia relations have maintained a good momentum of development, with President Xi Jinping and Prime Minister Abiy Ahmed maintaining strategic communication and reaching a series of important consensuses, particularly the decision to elevate bilateral relations to an all-weather strategic partnership, opening broad prospects for future cooperation, Wang said. Guided by the important consensuses of the leaders, China is willing to deepen the all-weather friendship, expand cooperation in various fields, and promote more achievements in bilateral relations, benefiting the people of both nations…Both sides agreed to continue firmly supporting each other in safeguarding sovereignty and development interests, enhancing pragmatic cooperation and upgrading their quality, strengthening coordination in international and regional affairs, and making objective, balanced, and constructive voices on hotspot issues.”
Finally, Wang also met with Brazilian Foreign Minister Mauro Vieira. Xinhua says:
Wang said that “both sides should work together towards building a China-Brazil community with a shared future, promote the further alignment of the development strategies of both countries and send a positive expectation for the healthy and stable development of China-Brazil relations. China has always prioritized Brazil in its diplomacy and is willing to work with Brazil to systematically summarize the successful experiences of the past half-century and elevate the comprehensive strategic partnership to a new level, Wang said, adding that this conforms to the wishes of both peoples and the expectations of the international community, and contributes to global peace and development. China values Brazil's significant influence in the Latin American region and is willing to jointly promote cooperation between China, the Community of Latin American and Caribbean States (CELAC), and the Southern Common Market, Wang said. He added that as the China-Latin America Forum approaches its 10th anniversary, showing a trend of comprehensive advancement, both sides can work together to start an even more fruitful decade for the forum. Wang noted that China and Brazil, as major developing countries, need to make just, balanced, and constructive voices on international hot issues. Recently, the two countries jointly issued six common understandings on the political settlement of the Ukraine issue, which has gained understanding and recognition from more and more countries. Noting that this year marks the inaugural year of the ‘greater BRICS cooperation’, Wang said China is willing to work with Brazil to actively promote BRICS cooperation, enabling the BRICS mechanism to play a greater role in global governance and in safeguarding the interests of developing countries.”