Military Theory Conference - Li Qiang Meets Kyrgyz & Tajik PMs - World Buddhist Forum - 6 trln in Stimulus Expected? - Lashing out at Malabar Drills - Zhang Youxia Meets Belousov - China's Space Plans

Here are the key reports and articles that I found noteworthy from the People’s Daily’s edition on Wednesday, October 16, 2024.

Page 1: The lead story today is on Xi Jinping’s instructions at the military theory work conference, which was held in Beijing on Monday and Tuesday.

Xi “emphasised that the modernization of military theory is an important part of the modernization of national defense and the armed forces, and plays a crucial leading role in the development of the cause of strengthening the armed forces. In the new era and on a new journey, as the profound changes unseen in a century accelerate, a new military revolution is rapidly advancing, and China’s security and development needs are undergoing profound changes, the task of achieving the goal of strengthening the military has become more urgent, and it is necessary to comprehensively strengthen military theory work.” 他强调，军事理论现代化是国防和军队现代化重要组成部分，在强军事业发展中具有重要先导作用。新时代新征程，世界百年变局加速演进，新军事革命迅猛发展，我国安全和发展需求深刻变化，实现强军目标任务更加紧迫，必须全面加强军事理论工作.

“It is necessary to implement the thought on strengthening the military in the new era; implement the military strategic guidelines for the new era; persist in combining the basic principles of Marxism with the practice of building the people’s army; draw from the essence of China’s excellent traditional military culture; focus on the battlefield, the troops, and the future; keep a close eye on changes in technology, warfare, and adversaries; grasp firmly the research on major issues of war preparedness and military building under new historical conditions; optimize top-level design for military theory innovations; improve the model of relevant research and enhance the application of military theory; and build a modern military theory system with Chinese characteristics so as to provide scientific support and leadership for achieving the PLA’s centennial goal and accelerating the building of a world-class military.” 要贯彻新时代强军思想，贯彻新时代军事战略方针，坚持把马克思主义基本原理同人民军队建设实践相结合，汲取中华优秀传统军事文化精华，坚持面向战场、面向部队、面向未来，紧盯科技之变、战争之变、对手之变，扭住新的历史条件下战建备重大问题研究，优化军事理论创新顶层设计，改进军事理论研究模式，加强军事理论转化运用，建设中国特色现代军事理论体系，为实现建军一百年奋斗目标、加快建成世界一流军队提供科学支撑和引领.

Zhang Youxia was present at the meeting and also delivered a speech, emphasising Xi’s message.

The other top story on the page is about Qiushi’s publication of a speech by Xi at a symposium on literature and art on October 15, 2014. This is quite a famous speech, but for those who might not have followed back then, I’ll do a full breakdown of the report. If you want to read a full translation of the speech by Rogier Creemers back then, here’s the link.

“The speech emphasised that literary and artistic undertakings are important undertakings of the Party and the people, and the literary and artistic front is an important front of the Party and the people. Literature and art are the clarion call for the advancement of the times, and they best represent the style of an era and are most able to shape the atmosphere of an era. To achieve the ‘two centenary’ goals and realize the Chinese dream of the great rejuvenation of the Chinese nation, the role of literature and art is irreplaceable, and there is much for literary and artistic workers to do. The majority of literary and artistic workers should recognize the status and role of literature and art from such a perspective, recognize the historical mission and responsibility they bear, adhere to the people-centred creative approach, strive to create more excellent works worthy of the times, carry forward the Chinese spirit, gather Chinese strength, and inspire people of all ethnic groups across the country to vigorously move forward into the future.” 讲话强调，文艺事业是党和人民的重要事业，文艺战线是党和人民的重要战线。文艺是时代前进的号角，最能代表一个时代的风貌，最能引领一个时代的风气。实现“两个一百年”奋斗目标、实现中华民族伟大复兴的中国梦，文艺的作用不可替代，文艺工作者大有可为。广大文艺工作者要从这样的高度认识文艺的地位和作用，认识自己所担负的历史使命和责任，坚持以人民为中心的创作导向，努力创作更多无愧于时代的优秀作品，弘扬中国精神、凝聚中国力量，鼓舞全国各族人民朝气蓬勃迈向未来.

“The speech pointed out that achieving the great rejuvenation of the Chinese nation requires the prosperity and flourishing of Chinese culture. It is essential to place great importance on and fully leverage the significant role of literature, art, and cultural workers. Both history and reality have proven that the Chinese nation possesses immense cultural creativity. At every major historical juncture, culture can sense the changes in national fortunes, stand at the forefront of the times, and sound the clarion call of the era, cheering millions of people and our great motherland. Raising the banner of spirit, establishing spiritual pillars, and building a spiritual home all cannot be separated from literature and art. Writers and artists in our country should become the forerunners, pioneers, and advocates of the times, and write and record the great practice of the people and the progressive requirements of the times through more literary and artistic works with strength, morality, and warmth.” 讲话指出，实现中华民族伟大复兴需要中华文化繁荣兴盛。必须高度重视和充分发挥文艺和文艺工作者的重要作用。历史和现实都证明，中华民族有着强大的文化创造力。每到重大历史关头，文化都能感国运之变化、立时代之潮头、发时代之先声，为亿万人民、为伟大祖国鼓与呼。举精神之旗、立精神支柱、建精神家园，都离不开文艺。我国作家艺术家应该成为时代风气的先觉者、先行者、先倡者，通过更多有筋骨、有道德、有温度的文艺作品，书写和记录人民的伟大实践、时代的进步要求.

The next paragraph stresses the importance of “creating and producing excellent works that are worthy of our great nation and great era.” It says: “The central task of literary and artistic work must be the creation and production of excellent works. We must strive to create and produce more excellent works that spread contemporary Chinese values, embody the spirit of Chinese culture, reflect the aesthetic pursuits of the Chinese people, and organically unify ideological content, artistic quality, and aesthetic appeal. Innovation is the lifeblood of literature and art.”  必须把创作生产优秀作品作为文艺工作的中心环节，努力创作生产更多传播当代中国价值观念、体现中华文化精神、反映中国人审美追求，思想性、艺术性、观赏性有机统一的优秀作品。创新是文艺的生命.

Xi then stressed the importance of “the originality of literature and art” and called to “strive to cultivate a group of influential literary and artistic leaders in various fields, and build a large team of literary and artistic talents.”

The next bit is important to remember:

“The speech pointed out that socialist literature and art, in essence, is the literature and art of the people. Literature and art must reflect the voice of the people and must adhere to the fundamental direction of serving the people and serving socialism. This is a basic requirement put forward by the Party for the literary and artistic front, and it is also the key to determining the future and destiny of China’s literary and artistic undertakings. First, the people need literature and art. To meet the people’s growing spiritual and cultural needs, we must focus on cultural development and increase the spiritual and cultural wealth of society. Second, literature and art need the people. Whether excellent works can be produced fundamentally depends on whether they can write for the people, express emotions for the people, and reflect the thoughts of the people. Third, literature and art must love the people. There are a hundred or even a thousand methods for literary and artistic creation, but the most fundamental, crucial, and reliable method is to be rooted in the people and in real life. A good work should be one that withstands the evaluation of the people, experts, and the test of the market. It should prioritise social benefits but also achieve a balance between social and economic benefits. Literature and art should not be slaves to the market and should not be tainted with the stench of money.” 讲话指出，社会主义文艺，从本质上讲，就是人民的文艺。文艺要反映好人民心声，就要坚持为人民服务、为社会主义服务这个根本方向。这是党对文艺战线提出的一项基本要求，也是决定我国文艺事业前途命运的关键。第一，人民需要文艺。满足人民日益增长的精神文化需求，必须抓好文化建设，增加社会的精神文化财富。第二，文艺需要人民。能不能搞出优秀作品，最根本的决定于是否能为人民抒写、为人民抒情、为人民抒怀。第三，文艺要热爱人民。文艺创作方法有一百条、一千条，但最根本、最关键、最牢靠的办法是扎根人民、扎根生活。一部好的作品，应该是经得起人民评价、专家评价、市场检验的作品，应该是把社会效益放在首位，同时也应该是社会效益和经济效益相统一的作品。文艺不能当市场的奴隶，不要沾满了铜臭气.

The speech pointed out that the Chinese spirit is the soul of socialist literature and art. Every era has its own spirit. Literature and art are projects that shape the soul, and literary and artistic workers are the engineers of the soul. Literary and artistic workers should uphold the banner of core socialist values, fully recognize the responsibilities on their shoulders, and vividly and creatively reflect these core values in their artistic creations. Patriotism should be the main theme of literary and artistic creation, guiding the people to establish and uphold the correct views of history, the nation, the state, and culture, while enhancing their sense of pride and confidence in being Chinese. Through literary and artistic works, we should convey truth, goodness, and beauty, and transmit positive and virtuous values, guiding people to aspire to and pursue a life that values morality, respects morality, and upholds morality. We should inherit and promote China’s excellent traditional culture and Chinese aesthetic spirit in line with the conditions of the new era. 讲话指出，中国精神是社会主义文艺的灵魂。每个时代都有每个时代的精神。文艺是铸造灵魂的工程，文艺工作者是灵魂的工程师。广大文艺工作者要高扬社会主义核心价值观的旗帜，充分认识肩上的责任，把社会主义核心价值观生动活泼、活灵活现地体现在文艺创作之中。要把爱国主义作为文艺创作的主旋律，引导人民树立和坚持正确的历史观、民族观、国家观、文化观，增强做中国人的骨气和底气。要通过文艺作品传递真善美，传递向上向善的价值观，引导人们向往和追求讲道德、尊道德、守道德的生活。要结合新的时代条件传承和弘扬中华优秀传统文化，传承和弘扬中华美学精神.

The final paragraph calls to strengthen the Party’s leadership over literary and artistic work.

Moving on, there’s a report on Li Qiang’s meeting with Pakistani President Asif Ali Zardari. Xinhua reports Li told him that “China will work with Pakistan to maintain close high-level exchanges and firmly support each other on issues concerning core interests.”

“China and Pakistan are good neighbors, good friends, good partners and good brothers with a long tradition of friendship, as their ironclad friendship has grown stronger and fresher as time goes on, Li said. Under the strategic guidance of Chinese President Xi Jinping and Pakistani leaders, the China-Pakistan all-weather strategic cooperative partnership has been deepened, the high-quality Belt and Road cooperation has been fruitful, and the popular support for friendship has been ever solid, he said. The Chinese premier noted that China has always viewed its relations with Pakistan from a strategic and long-term perspective and always placed Pakistan as a priority in China's neighborhood diplomacy, adding that China is willing to work with Pakistan to push the China-Pakistan friendship and cooperation to new levels and bring more benefits to the two peoples. The Chinese side, Li said, is also ready to work with Pakistan to strengthen exchanges on governance experience, step up the alignment of development strategies, expand economic and trade cooperation, deepen people-to-people and cultural exchanges, and make further efforts to turn the China-Pakistan Economic Corridor (CPEC) into a landmark project of the high-quality Belt and Road cooperation for better mutual benefit and win-win results. China is willing to strengthen cooperation with Pakistan in the field of security, Li said, adding that the Chinese side believes that Pakistan will continue to make every effort to ensure the safety and security of Chinese personnel, institutions and projects in Pakistan.”

Zardari affirmed support for the one-China principle and said that Pakistan “will do its utmost to ensure the safety and security of Chinese citizens, institutions and projects.”

Next, there’s a report on Han Zheng meeting with President of the Australian Senate Sue Lines. Xinhua reports: 

“Han said consolidating and developing bilateral ties serves the common interests of the two countries and is conducive to regional peace, stability and prosperity, as both China and Australia are important countries in the Asia-Pacific region. Han said China is ready to work with Australia to implement the important consensus reached by leaders of the two countries and deepen mutually beneficial cooperation, so as to build a more mature, stable and fruitful China-Australia comprehensive strategic partnership and contribute to peace and development in the region and the world.”

Lines also separately met with ILD chief Liu Jianchao.

Also, there’s a report on the opening of the 6th World Buddhist Forum in Ningbo. About 800 Buddhist representatives, experts and scholars from 72 countries attended this, as per the report. Wang Huning delivered a speech at this forum. 

Wang said:

“Peace, amity, and harmony are concepts that have been passed down through Chinese civilization for over 5,000 years. Chinese civilization is renowned for its openness and inclusiveness, advocating for seeking common ground while preserving differences, harmony without uniformity, and respecting and accepting others. In the process of exchange and mutual learning with other civilizations, it continuously radiates new vitality. 和平、和睦、和谐是中华文明五千多年来一直传承的理念，中华文明以开放包容闻名于世，倡导求同存异、和而不同、尊重包容，在同其他文明交流互鉴中不断焕发新的生命力.

Wang added that this event showcases the “openness and inclusiveness of Chinese Buddhism, promotes the inheritance and development of world Buddhist culture, and strengthens the exchange and mutual learning among human civilizations. It is hoped that the Buddhist community will carry forward the fine traditions of Buddhism, gather strength that moves upward and towards goodness, align with the progress of the times in interpreting doctrines and teachings, promote dialogue among different civilizations, advocate for harmonious coexistence among various beliefs, and contribute wisdom and strength to world peace, development, and the progress of human civilization.” 王沪宁表示，本届论坛以“同愿同行·和合共生”为主题，是展现中国佛教开放包容、推动世界佛教文化传承发展、加强人类文明交流互鉴的一次盛会。希望广大佛教界人士弘扬佛教优良传统，凝聚向上向善力量，顺应时代进步要求开展好教理教义阐释，推动不同文明交流对话，倡导不同信仰和谐共生，共同为世界和平发展、人类文明进步贡献智慧和力量.

“Wang Huning said that China adheres to the policy of freedom of religious belief, and encourages and supports the religious community to conduct international exchanges on the basis of independence, equality, friendship and mutual respect. Chinese Buddhism has always been an important driving force for the inheritance and development of world Buddhism. The Chinese government supports the Chinese Buddhist community to actively participate in global religious and civilization dialogues, conduct friendly exchanges with Buddhist communities in various countries, in order to promote people-to-people exchanges and enhance mutual understanding.” 王沪宁表示，中国奉行宗教信仰自由政策，鼓励和支持宗教界在独立自主、平等友好、相互尊重的基础上开展对外交往。中国佛教一直是世界佛教传承发展的重要推动力量，中国政府支持中国佛教界主动参与全球宗教与文明对话，同各国佛教界开展友好交流，推动民间往来，促进民心相通.

He then talked about the three global initiatives and the importance of building a community with a shared future for mankind. 

Page 2: There are reports on Li Qiang’s meetings with the prime ministers of Tajikistan and Kyrgyzstan. 

Xinhua’s report on Li’s meeting with Kyrgyz Prime Minister Akylbek Zhaparov says:

“Li noted the meeting between Chinese President Xi Jinping and Kyrgyz President Sadyr Japarov in Astana in July, which laid out plans and arrangements to build a closer China-Kyrgyzstan community with a shared future and to elevate bilateral relations and cooperation to a higher level. China looks to enhance coordination and cooperation with Kyrgyzstan under the strategic guidance of the two heads of state to cement and deepen bilateral collaboration in various fields, and further promote common development and prosperity, said the premier. Li said China is ready to work with Kyrgyzstan to set and develop the bilateral relationship from a strategic and long-term perspective, further enhance connectivity, accelerate the improvement of infrastructure such as ports, stimulate trade and investment, and expand cooperation in areas such as new energy, cross-border e-commerce, big data, and artificial intelligence, striving to achieve more tangible cooperation results. He called on both sides to deepen exchanges in culture, tourism, education, health, and other fields, passing on the friendship between the two countries from generation to generation. China stands ready to continue implementing the outcomes of last year's China-Central Asia Summit together with Kyrgyzstan, strengthen communication and cooperation within the SCO framework, encourage all parties to steadfastly promote the ‘Shanghai Spirit’, injecting more certainty and positive energy into regional peace, stability, and development, Li said.”

As per the report, Zhaparov talked about deepening BRI cooperation, advancing the construction of the China-Kyrgyzstan-Uzbekistan railway, and deepening cooperation in such fields as port construction, connectivity, finance, mining, education and tourism.

Xinhua’s report on Li’s meeting with Tajik Prime Minister Kokhir Rasulzoda says:

“Li said that in July, President Xi Jinping paid a successful state visit to Tajikistan, during which the two heads of state jointly announced the decision to elevate China-Tajikistan relations to a comprehensive strategic cooperative partnership in the new era, and to build the China-Tajikistan community with a shared future at a higher level, drawing a new blueprint for the development of China-Tajikistan relations and cooperation. China is ready to work with Tajikistan to further implement the important consensus reached by the two heads of state, carry forward traditional friendship, deepen mutual political trust, firmly support each other on core interests, lift China-Tajikistan all-round cooperation to a new level, and bring more benefits to the two peoples, he said. China is going to work with Tajikistan to strengthen the synergy of development strategies. Guided by the vision of the China-Tajikistan community with a shared future and focusing on the high-quality Belt and Road cooperation, China stands ready to tap the potential of bilateral cooperation in various fields, advance cooperation in such fields as trade, investment, mining and agriculture, as well as in emerging industries including new energy and digital economy, promote connectivity, and strengthen people-to-people exchanges and cooperation in culture, education and tourism, in a bid to inject more impetus into common development, he said. China will work with Tajikistan to implement the outcomes of the first China-Central Asia Summit, strengthen multilateral cooperation, jointly carry out the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative, advocate an equal and orderly multipolar world and a universally beneficial and inclusive economic globalization, practice true multilateralism, and uphold international fairness and justice, Li said.”

Rasulzoda talked about promoting BRI cooperation, deepening cooperation in such fields as trade, investment, e-commerce, energy, industry, transportation and agriculture, expanding cooperation in emerging fields like digital economy and green economy, and deepening cultural and people-to-people exchanges to better benefit the two peoples.

Also on the page is a report on Zhang Youxia meeting with Russian Defense Minister Andrei Belousov. Xinhua reports:

“China is willing to work with Russia to further strengthen and develop their relationship, built on enduring good-neighborliness, deep strategic trust, and mutually beneficial cooperation, Zhang said. Zhang urged both sides to maintain close high-level exchanges, deepen and expand military relations, safeguard the sovereignty, security and development interests of their respective countries, and work together to uphold international and regional peace and stability. Russia will collaborate with China to continue strengthening practical cooperation across various fields and deepen the Russia-China comprehensive strategic partnership of coordination for a new era, Belousov said.”

Another worthwhile report, although it isn’t in the paper, is this comment by Wu Qian, spokesperson for the Ministry of National Defense, on the ongoing Malabar drills involving the American, Indian, Japanese and Australian navies. 

Wu said that “the so-called Quad mechanism has become a sheer political tool for the United States to contain China and maintain its hegemony…China believes that security cooperation among relevant countries should not harm the interests of any third party or undermine regional peace and stability, Wu said. ‘We firmly oppose relevant parties to use China as an excuse to stir up confrontation and escalate regional tensions,’ he added. ‘The Asia-Pacific should be a grand stage where countries join hands to cooperate, rather than an arena for geopolitical competition. We require relevant countries to give up their obsession with zero-sum mindset and put more efforts on protecting regional security, instead of doing the opposite,’ he said.”

Page 3: There’s a report on a symposium on Xi Jinping Thought on Culture that was held in Beijing. Propaganda chief Li Shulei attended this forum. This report talks about the speech on literature and art, which I’ve covered above. It says that now the establishment of Xi Jinping Thought on Culture has clarified the mission and tasks of literary and artistic work in the new era. The report adds:

The delegates expressed that, in the new era and on the new journey, it is essential to deeply study and practice Xi Jinping Thought on Culture, firmly establish a people-centred creative orientation, adhere to combining the development of works with the cultivation of talents, and integrate the focus on works with fostering a supportive environment. Writers and artists should be guided to continuously engage with real life, devote themselves to creating high-quality works, and be determined to promote the prosperity of literature and art, striving to reach new heights. We must deeply explore the contemporary value of China’s excellent traditional culture, absorb the nutrients of outstanding cultural achievements from other countries, better embody the spirit of China, and promote mutual learning among civilizations. The Party’s leadership over literary and artistic work must be upheld, and the Party’s literary and artistic guidelines and policies should be comprehensively and accurately implemented, effectively shouldering the cultural mission of the new era. 与会代表表示，新时代新征程，要深入学习实践习近平文化思想，树牢以人民为中心的创作导向，坚持出成果和出人才相结合、抓作品和抓环境相贯通，引导作家艺术家持续深入生活、潜心创作精品，矢志促进文艺繁荣、攀登文艺高峰。要深入挖掘中华优秀传统文化的时代价值，吸收各国优秀文化成果养分，更好体现中国精神、推动文明互鉴。要坚持党对文艺工作的领导，全面准确贯彻党的文艺方针政策，切实担负起新时代的文化使命.

Page 7: There’s a report based on data released by the State Taxation Administration on individual income taxation. It informs that more than 70 percent of people earning an income did not have to pay tax in China last year. Individuals with an annual income of less than 100,000 yuan ($13,600), did not have to pay personal income tax last year. 

Li Ping, the deputy director of the STA’s tax science research institute explained “in 2018, China revised the Individual Income Tax Law for the seventh time, raising the basic deduction standard from the original 3,500 yuan per person per month to 5,000 yuan. At the same time, six special additional deductions were established for children’s education, support for the elderly, housing loan interest, housing rent, continuing education, and major illness medical treatment. In 2022, a special additional deduction for the care of infants under 3 years old was added, and in 2023, the standards for three special additional deductions for the care of infants under 3 years old, children's education, and support for the elderly were increased.”

The report also informs that among the individual income tax payers in China, high-income earners with an annual income of more than 1 million yuan account for about 1% of the number of taxpayers, and the individual income tax declared and paid by this group accounts for more than 50% of the total individual income tax. The individual income tax paid by the top 10% accounts for more than 90% of the total individual income tax.

While on this subject of taxation, do check out this Bloomberg report. It says:

“China has begun enforcing a long-overlooked tax on overseas investment gains by the country’s ultra-rich, according to people familiar with the matter. Some wealthy individuals in major Chinese cities were told in recent months to conduct self-assessments or summoned by tax authorities for meetings to evaluate potential payments, including those in arrears from past years, said the people, asking not to be identified discussing a private matter. The move underscores growing urgency within the government to expand its sources of revenue as land sales tumble and growth slows. It also aligns with President Xi Jinping’s ‘common prosperity’ campaign to create a more equal distribution of wealth in the world’s second-largest economy. The individuals contacted are facing up to 20% levies on investment gains, and some are also subject to penalties on overdue payments, said the people, adding that the final amount is negotiable.”

Another report on the page informs that the inter-provincial electricity spot market has officially begun operation on Tuesday. This is a key step towards building a unified electricity market system.

The State Grid said that building on the existing medium- and long-term electricity trading mechanism, the spot market allows for day-ahead and intra-day transactions across provinces. Since the pilot use started in January 2022, the market has been running smoothly and steadily for 31 consecutive months. Up to date, it has achieved full coverage of areas operated by the State Grid and the western Inner Mongolia Autonomous Region, with over 6,000 trading entities and a cumulative transaction volume of over 88 billion kilowatt-hours, of which more than 44 percent are clean energy sources.

Other Reports:

First, there’s too much in this to offer a summary, but if you are interested, do check out Xinhua Institute’s new report: ‘Eight Major Steps’ Heralds Promising New Decade of Belt and Road Cooperation.

Second, check out this report from Caixin discussing the potential of the central government possibly raising 6 trillion yuan from treasury bonds to support local governments.

“​​China may raise an additional 6 trillion yuan from treasury bonds over three years as part of its efforts to buttress the slowing economy through fiscal stimulus, multiple sources with knowledge of the matter told Caixin. The funds will be partly used to help local governments resolve their off-the-books debts, according to the sources. Speculation about the size of China’s new fiscal stimulus has been rife since the Ministry of Finance pledged at a press briefing Saturday to help local governments relieve debt pressure without specifying the amount. The central government will expand the quota for local authorities to bring their hidden debt onto the books by a ‘relatively large scale,’ Finance Minister Lan Foan said at the briefing. By helping manage the tens of trillions of yuan of off-the-books debt, the measure could free up more energy and fiscal resources for local governments to develop their economies and improve the welfare of residents, he noted. Lan also announced policies for local governments to buy land and housing from property developers in a bid to revive the country’s real estate sector, which has now been in a slump for more than three years. Part of the funding will come from local governments issuing special-purpose bonds, which are typically used to finance infrastructure and public welfare projects. Other fiscal measures will include injecting capital into China’s major state-owned commercial banks and subsidizing ‘important groups,’ such as students, Lan said. The central government is looking into additional fiscal policies, the finance minister said, adding that it has a ‘relatively large’ amount of room to increase its deficit and issue more debt.”

SCMP also has a very useful explainer on when we are likely to get more details on this stimulus. It says:

“When talking on Saturday about introducing a one-time, large-scale, debt-ceiling increase for local governments to swap their hidden debts, Lan said specifics on the amount of money will be disclosed after the proper legal procedures. Historically speaking, the NPC Standing Committee usually holds a chairman’s meeting in the second week after the National Day holiday, and the time and agenda of the upcoming legislature gathering are decided. Thus, more details of China’s fiscal stimulus might be disclosed in late October or early November after the NPC Standing Committee meeting. Last year, the NPC Standing Committee meeting was held from October 20-24 and a resolution was passed to issue an additional 1 trillion yuan (US$ 141.3 billion) worth of treasury bonds. In December, there will be another Politburo meeting focused on economic issues and the Central Economic Work Conference will likely take place. At that time, more signals about raising the headline fiscal deficit and bond issuance for the next year should come to light. Many economists expect that the size of the overall stimulus package might be counted in the trillions of yuan. But Larry Hu, chief China economist at Macquarie Capital, said China’s policymakers may not announce an overall figure at all. ‘First, they don’t need to come up with such a number for the [NPC] to approve. Second, it’s hard to come up with such a number, as the line between fiscal, monetary and industrial policies is often blurred in China,” he said in a note on Saturday. And it would be politically incorrect to be seen flooding the economy with money in China, especially after the ‘4 trillion yuan stimulus’ in 2008, he added. Back then, the number was first announced by the former premier at a State Council executive meeting and disclosed to the public a few days later.”

Third, Xinhua reports that China unveiled a national mid and long-term development program for space science on Tuesday, which will guide the country’s planning of space science missions and space research from 2024 to 2050. 

“The program, the first of its kind at the national level, was jointly released by the Chinese Academy of Sciences (CAS), the China National Space Administration (CNSA) and the China Manned Space Agency (CMSA) at a press conference held by the State Council Information Office. The program outlines the development goals of China's space science, including 17 priority areas under five key scientific themes, as well as a three-phase roadmap. The five key scientific themes include the extreme universe, space-time ripples, panoramic view of Sun-Earth, habitable planets, and biological and physical sciences in space, Ding Chibiao, vice president of the CAS, said at the press conference.”

The report adds:

“In the first phase, leading up to 2027, China will focus on the space station operation, implementing the manned lunar exploration project, and the fourth phase of its lunar exploration program as well as the planetary exploration project. Five to eight space science satellite missions will be approved during the period, according to the program. The international lunar research station initiated by China will be constructed during the second phase from 2028 to 2035, and approximately 15 scientific satellite missions will be carried out during this period. In the third phase from 2036 to 2050, China will launch over 30 space science missions.”

“In the next decade, China’s space station will focus on cutting-edge technologies, addressing major national needs, and promoting the health and well-being of its people. It will focus on four research areas, namely, space life and human body research, microgravity physics, space astronomy and Earth science, and new space technologies and applications, according to Lin Xiqiang, deputy director of the CMSA. China plans to launch a 2-meter caliber space telescope to explore the forefront issues in space astronomy. In order to support its operation and research, scientific centers have been established at Peking University, the Yangtze River Delta region and the Guangdong-Hong Kong-Macao Greater Bay Area, aiming to achieve breakthroughs in cosmology, galaxy science, as well as the study of celestial bodies in the Milky Way and the solar system, Lin said.”