Q1 Economic Data - Wang Yi Talks to Iranian & Saudi FMs - China-Central African Republic Joint Statement on GDI, GSI and GCI
Hi folks,
Before we get to today’s edition, let me share details of an upcoming event on OpenTakshashila on Friday, April 17, 2024, at 19:00 Indian Standard Time.
The discussion revolves around a paper by my colleague Anushka Saxena - ‘A Politico-Legal Toolkit to Respond to a Taiwan Straits Conflict under a UN Framework’.
You can RSVP and join here.
Let me begin with NBS’ data on China’s economic growth in 2024 Q1. This will get covered tomorrow in the paper. The big number is that GDP grew at 5.3% year-on-year, or up by 1.6% over that in the fourth quarter of 2023. Added value by primary industry was up 3.3% year-on-year; secondary industry was up by 6.0%; and tertiary industry was up by 5.0%.
Total value added of industrial enterprises above the designated size grew by 6.1%. In March, the value added of industrial enterprises above the designated size went up by 4.5% year on year, or down by 0.08% month on month. March’s Manufacturing PMI was 50.8%.
Value added of mining increased by 1.6%; manufacturing was up by 6.7%; and production and supply of electricity, thermal power, gas and water increased by 6.9%. The value added of high-tech manufacturing increased by 7.5%, 2.6 percentage points faster than that of the fourth quarter of 2023.
Production of electric vehicle charging facilities, 3D printing devices and electronic components went up by 41.7%, 40.6% and 39.5% year on year respectively.
Value added of services went up by 5.0% year on year.
Total retail sales of consumer goods reached 12.033 trillion yuan, up by 4.7% year on year. Retail sales of consumer goods in urban areas reached 10.43 trillion yuan, up by 4.6%, and that in rural areas stood at 1.6 trillion yuan, up by 5.2%.
Fixed assets investment grew by 4.5% year on year, 1.5 percentage points faster than that of the previous year; the investment in fixed assets was up by 9.3% with the investment in real estate development deducted. Investment in infrastructure grew by 6.5%; that in manufacturing grew by 9.9%; and that in real estate development declined by 9.5%. The floor space of new commercial buildings sold was down by 19.4% year on year; the total sales of new commercial buildings was down by 27.6%. Private investment went up by 0.5%. Deducting the investment in real estate development, the private investment grew by 7.7%. Railways fixed asset investment was 124.8 billion yuan, a year-on-year increase of 9.9%.
Investment in high-tech industries grew by 11.4% year on year, of which the investment in high-tech manufacturing and high-tech services grew by 10.8% and 12.7%, respectively.
Total foreign trade value was 10.17 trillion yuan, an increase of 5.0% year on year. The total value of exports was 5.7 trillion yuan, up by 4.9%. The total value of imports was 4.4 trillion yuan, up by 5.0%. Trade with BRI partner countries grew by 5.5%, accounting for 47.4% of the total value of imports and exports. The exports of mechanical and electrical products grew by 6.8%, accounting for 59.2% of the total value of exports. In March, total foreign trade was down by 1.3% year on year. The total value of exports was down by 3.8%; that of imports was up by 2.0%.
CPI was the same as last year.
In Q1 and in March, urban surveyed unemployment was 5.2%.
Here are the key reports and articles that I found noteworthy from the People's Daily’s edition on Tuesday, April 16, 2024.
Page 1: The only report worth noting is about the meeting between Ding Xuexiang and Kathi Vidal, director of the United States Patent and Trademark Office (USPTO). Xinhua reports:
“China attaches great importance to the protection of intellectual property rights, said Ding, adding that China stands ready to expand practical cooperation with the United States on intellectual property rights, address each other's concerns, foster a fair, just and non-discriminatory business environment, and make greater contributions to the steady development of bilateral relations. Vidal said that the USPTO attaches importance to the development of intellectual property cooperation with China, and is willing to strengthen dialogue, exchanges and close cooperation to provide good services for innovation entities and better realize the transformation and application of innovation achievements.”
Page 3: A bunch of reports to note. First, let’s cover Wang Yi’s calls with the foreign ministers of Saudi Arabia and Iran. Xinhua’s report (PD report) on Wang’s call with Iran’s Hossein Amir-Abdollahian says:
“Amir-Abdollahian briefed Wang on Iran's position on the attack on the consular section of the Iranian embassy in Damascus, Syria, saying that the UN Security Council did not make a necessary response to this attack, and that Iran has the right to self-defense in response to the violation of its sovereignty. Noting that the current regional situation is very sensitive, Amir-Abdollahian said Iran is willing to exercise restraint and has no intention of further escalating the situation. The Iranian side calls for an immediate ceasefire in Gaza and supports China's active efforts to push for a ceasefire, restore regional peace and strengthen cooperation among regional countries, Amir-Abdollahian said, adding that Iran is willing to work with China for further development of Iran-China cooperation.”
Wang said that “China strongly condemns and firmly opposes the attack on the consular section of the Iranian embassy in Damascus, regarding it as a serious violation of international law and unacceptable. China has noted Iran's statement that its action taken was limited and was an act of self-defense in response to the attack against the Iranian consulate in Syria, Wang said. China appreciates Iran's stress on not targeting regional and neighboring countries as well as its reiteration on continuously pursuing a good-neighborly and friendly policy, he said. It is believed that Iran can handle the situation well and spare the region further turmoil while safeguarding its own sovereignty and dignity, he added. Wang said that the current situation is a spillover effect of the escalating conflict in Gaza. The pressing task now is to implement Security Council Resolution 2728 as soon as possible, achieve a ceasefire and end the fighting in Gaza, effectively protect civilians and prevent further aggravation of the humanitarian disaster, he said. China is willing to maintain communication with the Iranian side and jointly push for a comprehensive, just and lasting settlement of the Palestinian issue, Wang said. China and Iran are comprehensive strategic partners, and China is willing to steadily advance practical cooperation with Iran in various fields for a greater development of bilateral relations.”
Xinhua’s report (PD report) on Wang’s call with Faisal bin Farhan Al Saud says:
Wang said that “China firmly opposes the attack on the Iranian consulate building in Syria's capital, Damascus, which is a serious violation of international law. China has noticed Iran's emphasis that its counterattack does not target any neighboring country and that it is willing to continuously pursue a good-neighborly policy, Wang added. The current situation entails a choice between deterioration and a return to normalcy, Wang noted. Wang said China appreciates Saudi Arabia's emphasis on resolving issues through diplomatic means, adding that China is willing to work together with Saudi Arabia to avoid further escalation of confrontation.”
He added that the “top priority now is to strictly implement UN Security Council Resolution 2728”. He also termed the issue of Palestine’s statehood as “the most enduring injustice in modern times” and “the root cause of the Palestinian-Israeli issue, as well as the core of the Middle East issue”. He added: “The international community should take more active actions to support Palestine in becoming a full member of the United Nations, promote the convening of a larger-scale, more authoritative, and more effective international peace conference, and develop a timetable and roadmap for the implementation of the two-state solution, Wang said, noting that China is willing to strengthen communication and coordination with Saudi Arabia and make joint efforts to this end.”
Next, Wang Yi met with the foreign minister of Central African Republic, Sylvie Baipo-Temon, in Beijing. Xinhua reports:
Wang said:
“China will continue to support the Central African Republic in exploring a development path suited to its national conditions, and speak up for the country at the UN Security Council and on multilateral occasions…He said that China is willing to enhance cooperation with the Central African Republic in such areas as infrastructure construction, green development, medical and health care, education and training, and security and law enforcement. China hopes that the Central African Republic will create a safe environment for Chinese enterprises to invest and do business in the country. Baipo-Temon expressed appreciation for China's adherence to the principle of non-interference in other countries' internal affairs, saying that the Central African Republic abides firmly by the one-China principle and supports China firmly in safeguarding its core interests. The Central African Republic is also a firm supporter of the global initiatives that China has proposed, and it is willing to enhance friendly cooperation with China in various fields to achieve win-win results, she said, adding that the country will participate in the next meeting of the Forum on China-Africa Cooperation to promote the construction of an Africa-China community with a shared future.”
A rather unique joint statement has been issued following this visit. The document basically talks about implementing GDI, GSI and GCI. The statement contains 8 points.
The GDI, GSI and GCI proposed by President Xi Jinping provide new opportunities for the development of the ‘Global South’ and present a new vision for the progress of the international community. CAR is willing to fully support and work with China to promote the implementation of relevant initiatives and continuously inject new and strong impetus into the development of friendly relations between the two countries. 习近平主席提出的全球发展倡议、全球安全倡议和全球文明倡议为“全球南方”发展提供新机遇，为国际社会进步描绘新愿景。中非方愿全力支持并同中方共同推动相关倡议落实，为两国友好关系发展不断注入新的强劲动力.
Both sides will continue to firmly support each other on issues involving each other's core interests and major concerns. China will continue to support CAR in its efforts to promote peace, stability, reconstruction and development, safeguard sovereignty and security, and achieve national rejuvenation. CAR reaffirms its firm commitment to the one-China principle. Taiwan being an inalienable part of China's territory and the government of the People's Republic of China is the sole legal government representing the whole of China. CAR opposes any form of ‘Taiwan independence’ and firmly supports China's efforts to achieve national reunification. effort. Both sides firmly support the principle of non-interference in internal affairs and jointly oppose external forces interfering in the internal affairs of both countries in any form. 双方继续在涉及彼此核心利益和重大关切问题上坚定相互支持。中方将继续支持中非方推动和平稳定重建进程和发展、维护主权安全、实现民族振兴的努力。中非方重申坚定奉行一个中国原则，台湾是中国领土不可分割的一部分，中华人民共和国政府是代表全中国的唯一合法政府，反对任何形式的“台独”，坚定支持中国为实现国家统一所作的一切努力。双方坚定支持不干涉内政原则，共同反对外部势力以任何形式干涉两国内政。
GDI plays an important role in promoting global development and implementing the United Nations 2030 Agenda for Sustainable Development. China welcomes CAR’s participation in the ‘Friends of the Global Development Initiative Group’. Both sides will continue to promote practical cooperation in various fields such as agriculture, energy, sustainable development, and transportation infrastructure within the framework of the initiative. 全球发展倡议为推动全球发展、落实联合国2030年可持续发展议程发挥重要作用。中方欢迎中非方加入“全球发展倡议之友小组”，双方将在倡议框架下持续推进农业、能源、可持续发展、交通基础设施等各领域务实合作。
CAR appreciates China’s valuable support for restoring peace and stability in the country and is willing to be a pioneer in promoting the implementation of GSI. The two sides will strengthen cooperation in areas such as climate change, food security, disaster prevention and reduction, and personnel safety,committing to protecting the safety and legitimate rights and interests of each other's citizens and institutions within their respective countries, and jointly make positive contributions to peace and stability in Africa. 中非方感谢中方为中非恢复和平稳定提供宝贵支持，愿成为推动落实全球安全倡议的先行者。双方将在应对气候变化、粮食安全、防灾减灾、人员安全等领域加强合作，承诺保护本国境内对方公民及机构的安全和合法权益，共同为非洲和平稳定作出积极贡献.
CAR highly appreciates GCI’s advocacy for respecting the diversity of world civilisations and strengthening international cultural exchange and cooperation. Both sides are willing to further enhance people-to-people exchanges between the two countries and improve the level of facilitation, and deepen cooperation in education, art, culture and other fields. 中非方高度赞赏全球文明倡议倡导尊重世界文明多样性，加强国际人文交流合作。双方愿进一步增进两国人员往来并提高便利化水平，深化教育、艺术、文化等领域合作.
The final two points have China backing CAR’s leadership of the Central African Economic and Monetary Community, mentions BRI and calls to use the next FOCAC meeting to push forward the three global initiatives.
Next, there’s a report on Hungarian Parliament’s Budget Committee chairperson Zoltán Vajda meeting with Xiao Jie, NPCSC Vice Chairperson. “The two sides had an in-depth exchange of views on strengthening cooperation and exchanges between China and Hungary's legislative bodies, special committees, and offices in legislation, budget review and regulation.”
Finally, there’s a report on a delegation led by Li Mingxiang, Vice Minister of the International Liaison Department, visiting Mozambique. The delegation met with Mozambican Prime Minister Adriano Maleiane and Roque Silva Samuel, General Secretary of Mozambique Liberation Front.
Page 6: Chongqing Party Secretary Yuan Jiajun has an article discussing national security in the context of the National Security Education Day. I am not doing a deep dive into this one.