Xi's Reform Message in Shandong - PLA's Taiwan Drills - What's China's Messaging on Taiwan? - China-Brazil Statement on Ukraine War - China's Non-Financial ODI for Jan-April at RMB 343.47 bln
Here are the key reports and articles that I found noteworthy from the People's Daily’s edition on Friday, May 24, 2024.
Page 1: Xi Jinping met with businesses and academia during a symposium in Jinan City, Shandong Province. He talked about the need to deepen reform further across the board with efforts focussed on advancing Chinese-style modernization. Wang Huning and Cai Qi accompanied Xi. Li Ganjie and He Lifeng also attended the meeting.
Other attendees who spoke at the meeting were:
Liu Mingsheng, Chairman and Party Secretary of State Power Investment Corporation Limited
Zuo Ding, Chairman and Party Secretary of Shenzhen Innovation Investment Group Limited Company
Ding Shizhong, Chairman of the Board of Directors of ANTA Sports Products Limited
Xu Guanju, Chairman of Zhejiang Chuanhua Group Limited Company
Xu Daquan, President of Bosch (China) Investment Limited Company
Victor Fung Kwok-king, Chairman of Fung Group in Hong Kong
Zhou Qiren, Professor at Peking University
Huang Hanquan, Director of the Chinese Academy of Macroeconomic Research
Zhang Bin, Deputy Director of the Institute of World Economics and Politics of the Chinese Academy of Social Sciences
They spoke about deepening power system reform, developing venture capital, using technology to transform and upgrade traditional industries, establishing and improving governance systems for private enterprises, optimizing the business environment for foreign enterprises, better integrating Hong Kong into the new development pattern, enhancing people's sense of gain from reforms, promoting urban-rural integration, and improving the macroeconomic governance system. 座谈会上，国家电力投资集团有限公司董事长、党组书记刘明胜，深圳市创新投资集团有限公司董事长、党委书记左丁，安踏体育用品集团有限公司董事局主席丁世忠，浙江传化集团有限公司董事长徐冠巨，德国博世（中国）投资有限公司总裁徐大全，香港冯氏集团主席冯国经，北京大学国家发展研究院教授周其仁，中国宏观经济研究院院长黄汉权，中国社会科学院世界经济与政治研究所副所长张斌等9位企业和专家代表先后发言，就深化电力体制改革、发展风险投资、用科技改造提升传统产业、建立健全民营企业治理体系、优化外资企业营商环境、推动香港更好融入新发展格局、增强人民群众改革获得感、推动城乡融合发展、完善宏观经济治理体系等提出意见建议.
Xi Jinping then spoke. He said that when the Party Central Committee makes major decisions and formulates important documents, it conducts in-depth research and listens to all opinions; this is the consistent practice and fine tradition of our Party. Relevant entities must carefully study and incorporate everyone’s opinions and suggestions on further comprehensively deepening the reform.” 听取大家发言后，习近平发表了重要讲话。他表示，党中央作出重大决策、制定重要文件，都深入调研，广泛听取各方面意见，这是我们党的一贯做法和优良传统。对大家提出的进一步全面深化改革的意见和建议，有关方面要认真研究吸纳.
He then said that “reform is the driving force for development. In order to further comprehensively deepen reforms, we must anchor the overall goal of improving and developing the socialist system with Chinese characteristics and advancing the modernization of the national governance system and governance capabilities. We should closely adhere to the promotion of Chinese-style modernization, adhere to the combination of goal orientation and problem orientation, addressing issues directly, and making targeted changes. We should take resolute steps to remove the ideological and institutional barriers hindering the advancement of Chinese-style modernization, and strive to break down deep-seated institutional obstacles and structural contradictions, thereby continuously injecting strong impetus into Chinese-style modernization and providing robust institutional support.” 习近平指出，改革是发展的动力。进一步全面深化改革，要锚定完善和发展中国特色社会主义制度、推进国家治理体系和治理能力现代化这个总目标，紧扣推进中国式现代化，坚持目标导向和问题导向相结合，奔着问题去、盯着问题改，坚决破除妨碍推进中国式现代化的思想观念和体制机制弊端，着力破解深层次体制机制障碍和结构性矛盾，不断为中国式现代化注入强劲动力、提供有力制度保障.
He pointed out that “in order to further comprehensively deepen reforms, it is necessary to grasp the principal contradictions and main aspects of contradictions. It is necessary to uphold and develop China’s basic economic system, build a high-level socialist market economic system, improve the macroeconomic governance system and mechanisms for promoting high-quality development, refine the systems and mechanisms that support comprehensive innovation and urban-rural integration, and further liberate and develop social productive forces, enhance social vitality and and better align the relations of production with the productive forces and the superstructure with the economic base. Promoting the reform of the economic system must proceed from practical needs, start with the most urgent matters, deepen theoretical innovation and promote institutional innovation while solving practical problems. Reform measures in other areas should also focus on overall and strategic issues and plan reform measures in order to achieve the broad objectives.” 习近平强调，进一步全面深化改革，要抓住主要矛盾和矛盾的主要方面。要坚持和发展我国基本经济制度，构建高水平社会主义市场经济体制，健全宏观经济治理体系和推动高质量发展体制机制，完善支持全面创新、城乡融合发展等体制机制，进一步解放和发展社会生产力、增强社会活力，推动生产关系和生产力、上层建筑和经济基础更好相适应。推进经济体制改革要从现实需要出发，从最紧迫的事情抓起，在解决实践问题中深化理论创新、推进制度创新。其他领域改革也要聚焦全局性、战略性问题谋划改革举措，实现纲举目张.
Xi added that “the people's yearning for a better life is our goal. Reform and development are ultimately meant to allow the people to live a better life. It is necessary to plan and promote reforms based on the overall interests, fundamental interests, and long-term interests of the people, and follow the Party’s mass line in the new era. Focus on identifying the key points and breakthrough points for reform based on the pressing concerns and aspirations of the general public, including employment, income growth, education, healthcare, housing, government services, childcare, elderly care, personal safety, and property security. Introduce more reform measures that address urgent livelihood issues and align with the people's aspirations; undertake more practical actions that benefit people’s lives, warm their hearts and meet their expectations, so that the reforms can enhance people’s sense of gain, happiness, and security.” 习近平指出，人民对美好生活的向往就是我们的奋斗目标，抓改革、促发展，归根到底就是为了让人民过上更好的日子。要从人民的整体利益、根本利益、长远利益出发谋划和推进改革，走好新时代党的群众路线，注重从就业、增收、入学、就医、住房、办事、托幼养老以及生命财产安全等老百姓急难愁盼中找准改革的发力点和突破口，多推出一些民生所急、民心所向的改革举措，多办一些惠民生、暖民心、顺民意的实事，使改革能够让人民群众有更多获得感、幸福感、安全感.
“Xi Jinping emphasised that reform involves both breaking down old structures and establishing new ones. When done correctly, this can yield twice the result with half the effort. If not done correctly, it can result in twice the effort for half the result, or even have a negative effect. It is necessary to maintain integrity while pursuing innovation. No matter how and where reform goes, we must never waver on fundamental things such as upholding the overall leadership of the Party, adhering to Marxism, sticking to the path of socialism with Chinese characteristics, and upholding the people’s democratic dictatorship. At the same time, we must dare to innovate and do a good job in reforming what should be and could be reformed, and persist in our efforts once we find the right path.” 习近平强调，改革有破有立，得其法则事半功倍，不得法则事倍功半甚至产生负作用。要坚持守正创新，改革无论怎么改，坚持党的全面领导、坚持马克思主义、坚持中国特色社会主义道路、坚持人民民主专政等根本的东西绝对不能动摇，同时要敢于创新，把该改的、能改的改好、改到位，看准了就坚定不移抓.
“Reform needs to focus more on systematic integration, adhere to the overall concept and systematic thinking in planning and advancement, strengthen the coordination and matching of various reform measures, promote the reform measures in all fields and aspects to work in the same direction and form synergy, enhance overall effectiveness, and prevent and overcome the phenomenon of each doing their own thing and constraining each other. Reform requires careful planning, but more emphasis should be placed on implementation. It is necessary to implement reforms with the spirit of nailing nails; it is necessary to be proactive, but more importantly be solid and steady; clarify priorities, grasp the timing, pace, and effectiveness, do the best within our capabilities, and never deviate from reality.” 改革要更加注重系统集成，坚持以全局观念和系统思维谋划推进，加强各项改革举措的协调配套，推动各领域各方面改革举措同向发力、形成合力，增强整体效能，防止和克服各行其是、相互掣肘的现象。改革要重谋划，更要重落实。要以钉钉子精神抓改革落实，既要积极主动，更要扎实稳健，明确优先序，把握时度效，尽力而为、量力而行，不能脱离实际.
A couple of other stories to note. There’s a report on Xi Jinping’s congratulatory letter to the China-GCC Countries Forum on Industrial and Investment Cooperation held in Xiamen. Xinhua says:
“Deepening industrial and investment cooperation between China and GCC countries is conducive to better synergizing the Belt and Road Initiative with the development strategies, visions and plans of the GCC countries, tapping into complementary advantages, jointly fostering new growth engines, and promoting the prosperity and development of both sides, Xi said. China is willing to work with the GCC countries to promote unity, pursue cooperation and write a new chapter in China-GCC relations, he added.”
There’s also a report on Ding Xuexiang’s comments at this forum. Xinhua reports:
“Noting that China and the GCC countries are good brothers, friends and partners, Ding said the two sides are highly complementary in development advantages, and their practical cooperation enjoys a solid foundation and broad prospects. Ding urged the two sides to uphold the principle of extensive consultation, joint contribution and shared benefits, work together to promote the high-quality development of industrial and investment cooperation, and strive to inject new impetus into the prosperity and development of China and the GCC countries. He went on to propose that the two sides should enhance synergy between the Belt and Road Initiative and the development strategies and visions of GCC countries, and make full use of cooperation mechanisms in all fields. Practical cooperation should be strengthened to promote common development, Ding said, adding that the two sides should expand cooperation in traditional fields such as oil and gas, petrochemicals and infrastructure, and actively carry out cooperation in emerging fields such as clean energy and the digital economy. Ding also urged more efforts to improve the business environment. China will steadily expand institutional opening up and provide more space and convenience for enterprises from GCC countries to invest in China, Ding said, adding that it is hoped the GCC countries will also provide better conditions for Chinese enterprises. Ding added that the two sides should strengthen mutual support and promote the integration of interests, and work together to implement the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative, to build a community with a shared future for humanity.”
Finally, there’s a report (English report) on Han Zheng meeting with Agustin Carstens, general manager of the Bank for International Settlements.
Page 2: The important stories on this page are about dialogue between China and Brazil. Wang Yi met with Celso Amorim, special advisor to the president of Brazil. Xinhua reports:
Wang said that the two sides “should take into account the changes in the international situation and the respective development strategies of both countries while making strategic plans with a forward-looking vision, so as to inject new connotations into China-Brazil relations, set new development goals, and jointly embrace the next ‘golden 50 years.’ Wang noted that the world today is undergoing profound changes unseen in a century, with the international situation becoming chaotic and intertwined and hotspot issues emerging one after another. It is heartening to see that the ‘Global South’ countries represented by China and Brazil have achieved a collective rise and promoted a more balanced and reasonable structure of world power, he said. China will fully support Brazil's work as the rotating presidency of the G20 this year, and stands ready to work with Brazil and other G20 members to ensure the success of the G20 Rio Summit, said Wang, noting that China attaches importance to promoting cooperation with the Southern Common Market (Mercosur) and the Community of Latin American and Caribbean States (CELAC), and is willing to strengthen coordination with Brazil to push for greater development of relations between China and Latin American countries.”
“Noting that Brazil-China relations go beyond the bilateral scope and have strategic significance, Amorim said that the sound development of Brazil-China relations is not only beneficial to the two countries, but also plays an important role in safeguarding the common interests of developing countries and is conducive to world peace and stability. Amorim said that Brazil attaches great importance to cooperation with China, adding that China is Brazil's largest market, and the trade volume between the two countries is close to 200 billion U.S. dollars, which still has great potential for development. Amorim said that Brazil is ready to communicate closely with China, plan cooperation in various fields, expand the scale of trade and investment, expand new fields such as artificial intelligence and the digital economy, and constantly enrich the connotation of Brazil-China comprehensive strategic partnership. Noting that Brazilian president Luiz Inacio Lula da Silva attaches great importance to poverty eradication, and China has made remarkable achievements in this regard, Amorim said the two sides can strengthen exchanges and cooperation. Amorim said that Brazil and China share the same position on many major issues. Brazil supports Latin America and China in strengthening cooperation, and is willing to closely coordinate and cooperate with China on multilateral platforms such as the United Nations, the G20 and BRICS to uphold multilateralism and oppose hegemonism.”
The two sides also issued a document titled: Common Understandings Between China and Brazil on Political Settlement of the Ukraine Crisis. The document has six points.
The two sides call on all relevant parties to observe three principles for deescalating the situation, namely no expansion of the battlefield, no escalation of fighting and no provocation by any party.
2. The two sides believe that dialogue and negotiation are the only viable solution to the Ukraine crisis. All parties should create conditions for the resumption of direct dialogue and push for the deescalation of the situation until the realization of a comprehensive ceasefire. China and Brazil support an international peace conference held at a proper time that is recognized by both Russia and Ukraine, with equal participation of all parties as well as fair discussion of all peace plans.
Efforts are needed to increase humanitarian assistance to relevant regions and prevent a humanitarian crisis on a larger scale. Attacks on civilians or civilian facilities must be avoided, and civilians including women and children and prisoners of war (POWs) must be protected. The two sides support the exchange of POWs between the parties to the conflict.
The use of weapons of mass destruction, particularly nuclear weapons and chemical and biological weapons must be opposed. All possible efforts must be made to prevent nuclear proliferation and avoid nuclear crisis.
Attacks on nuclear power plants and other peaceful nuclear facilities must be opposed. All parties should comply with international law including the Convention on Nuclear Safety and resolutely prevent man-made nuclear accidents.
Dividing the world into isolated political or economic groups should be opposed. The two sides call for efforts to enhance international cooperation on energy, currency, finance, trade, food security and the security of critical infrastructure, including oil and gas pipelines, undersea optical cables, electricity and energy facilities, and fiber-optic networks, so as to protect the stability of global industrial and supply chains.
Another report on the page informs that Chinese defense minister Dong Jun met with his Qatari counterpart Khalid bin Mohamed Al Attiyah in Beijing. Dong “called for efforts from both sides to enhance strategic mutual trust, expand areas of cooperation, and strengthen personnel exchanges to elevate military cooperation to a higher level. Al Attiyah said that a unified and prosperous China is in the common interest of the international community. He expressed Qatar's willingness to strengthen practical cooperation under the Belt and Road Initiative and other frameworks and enhance the relationship between the two countries and the two militaries.”
Page 3: Just one report to note. Data from the Ministry of Commerce informs that from January to April:
China’s non-financial direct investment abroad was 343.47 billion yuan, a year-on-year increase of 18.7%.
Chinese companies’ non-financial direct investment in BRI countries was 77.77 billion yuan, a year-on-year increase of 20.4%.
The turnover of overseas contracted projects reached 313.42 billion yuan, up 8.8% year-on-year
The value of newly signed contracts reached 444.39 billion yuan, up 9.3% year-on-year
The turnover of contracted projects of Chinese enterprises in BRI countries reached 252.56 billion yuan, up 9.1% year-on-year
The value of newly-signed contracts reached 386.29 billion yuan, up 17.7% year-on-year.
Page 4: Much of the page is dedicated to the exercises - Joint Sword-2024A - being carried out around Taiwan. Global Times’ report offers a good summary:
“The drills are being conducted in the Taiwan Straits, the north, south and east of Taiwan Island, as well as areas around the islands of Kinmen, Matsu, Wuqiu, and Dongyin, the theater command said, attaching a map depicting nine exercise zones surrounding the island of Taiwan. Senior Captain Li Xi, a spokesperson of the PLA Eastern Theater Command, said that military services including the army, navy, air force and rocket force of the theater command are being organized to conduct the joint drills, code-named Joint Sword-2024A, from Thursday to Friday. The drills focus on joint sea-air combat-readiness patrols, joint seizure of comprehensive battlefield control, and joint precision strikes on key targets, Li said, adding that the exercises involve the patrol of vessels and planes closing in on areas around the island of Taiwan and integrated operations inside and outside the island chain to test the real joint combat capabilities of the command's forces. Li said the drills also serve as a strong punishment for the separatist acts of ‘Taiwan independence’ forces and a stern warning against interference and provocation by external forces.”
The Taiwan Affairs Office said that the drills “are a resolute punishment for the Taiwan regional leader's provocative May 20 speech that sought ‘independence’.” It is also a “stern warning to external forces that support ‘Taiwan independence’ and interfere in China's internal affairs, and a rightful move to safeguard national sovereignty and territorial integrity.”
He added: “If the ‘Taiwan independence’ separatist forces insist on going their own way or even take risks, we will take decisive action to resolutely crush the ‘Taiwan independence’ separatist plot and resolutely defend national sovereignty and territorial integrity.” 如果“台独”分裂势力一意孤行甚至铤而走险，我们将断然出手，坚决粉碎“台独”分裂图谋，坚定捍卫国家主权和领土完整.
Chen also made sure to say that “it should be pointed out that all our countermeasures are aimed at ‘Taiwan independence’ separatist activities and interference from external forces, and are by no means aimed at the broad masses of Taiwan compatriots.” 需要指出的是，我们的所有反制措施针对的是“台独”分裂活动和外部势力干涉，绝非针对广大台湾同胞. “We hope that the vast majority of Taiwan compatriots will firmly stand on the right side of history, be upright and honest Chinese people, distinguish right from wrong, act with righteousness, and join hands with mainland compatriots to resolutely oppose ‘Taiwan independence’ separatism and external interference…” 希望广大台湾同胞坚定站在历史正确的一边，做堂堂正正的中国人，明辨是非、奉义而行，和大陆同胞一道，坚决反对“台独”分裂和外部势力干涉，坚定守护中华民族共同家园，共创国家统一、民族复兴的美好未来.
Next, there’s a report with comments from MoFA’s Wang Wenbin.
“The joint drills of the PLA Eastern Theater Command are a necessary and legitimate move to safeguard national sovereignty and territorial integrity, crack down on ‘Taiwan independence’ separatist forces and their separatist moves and send a warning to external interference and provocation. It is fully consistent with international law and common practices. I need to stress that Taiwan is an inalienable part of China’s territory. This is both a fact based on history and the true status quo, and it will remain so in the future. ‘Taiwan independence’ is doomed to fail. The Chinese people will not be deterred from defending our sovereignty and territorial integrity. The 1.4 billion strong Chinese people will resolutely push back any separatist activity for ‘Taiwan independence’. Anyone seeking ‘Taiwan independence’ will find themselves crushed by the historic trend of China’s complete reunification. We urge the US to stop conniving at or supporting ‘Taiwan independence’ separatist forces and stop meddling in China’s internal affairs. Any attempt to endanger China’s national sovereignty and territorial integrity will be met with China’s resolute response.”
Next, there’s a commentary, which criticises Lai China-te’s speech for being “full of hostility, provocation, lies and deception”. It calls the speech a “Taiwan independence statement.” This is basically what the Taiwan Affairs Office had said. It adds:
“Compatriots on both sides of the Taiwan Straits share a common blood, a common culture, a common history, and both belong to the Chinese nation. They have always been a family, with blood being thicker than water, supporting and watching over each other. The long history of the Chinese nation, spanning over 5000 years, records the migration of ancestors to Taiwan and their flourishing, as well as the joint defense against foreign aggression and the recovery of Taiwan by compatriots from both sides of the strait. Along the way, the Chinese nation has written the indivisible history of both sides of the Taiwan Strait, and engraved the historical fact that compatriots on both sides of the Taiwan Strait are connected by blood. Both legally and factually, Taiwan is an integral part of China. However, the leaders in Taiwan, driven by their ‘independence-minded’ nature and political selfishness, are promoting the ‘two-state theory’ and advocating for ‘Taiwan independence’, even refusing to acknowledge their own Chinese bloodline. This betrayal of the nation and ancestors is disgraceful. History has long proven that those who forget their ancestors, betray the motherland, and split the country never have a good ending. They will be nailed to the pillar of historical shame, spurned by the people, and cannot escape the judgement of history.” 两岸同胞有共同的血脉、共同的文化、共同的历史，同属中华民族，从来都是血浓于水、守望相助的一家人。中华民族5000多年的漫长历史，记载着历代先民迁居台湾、繁衍生息，记载着两岸同胞共御外侮、光复台湾。中华民族一路走来，书写了海峡两岸不可分割的历史，镌刻着两岸同胞血脉相连的史实。无论在法理上还是在事实上，台湾都是中国不可分割的一部分。台湾地区领导人出于谋“独”本性和政治私利，贩卖“两国论”、搞“台独正名”，连自己中华民族的血脉都不承认，背叛民族和祖先的丑行令人不齿。历史早已证明，凡是数典忘祖、背叛祖国、分裂国家的人，从来没有好下场，都将被钉在历史的耻辱柱上，遭到人民的唾弃，逃不掉历史的审判.
“From the outset of his tenure, the leader in the Taiwan region has eagerly revealed his ‘Taiwan independence’ agenda, blatantly inciting anti-China sentiments. His statements and actions have completely deviated from the mainstream public opinion on the island, which prefers peace rather than war, development rather than recession, exchanges rather than separation, cooperation rather than confrontation. This has aggravated tensions and the turbulent situation in the Taiwan Strait, pushed Taiwan into a more dangerous situation, and seriously challenged the common belief of the Chinese nation and the common will of the Chinese people.”台湾地区领导人就任伊始便迫不及待露出“台独”真面目，赤裸裸煽动“反中抗中”情绪，其所言所行完全背离岛内要和平不要战争、要发展不要衰退、要交流不要分离、要合作不要对抗的主流民意，加剧台海形势紧张动荡，把台湾推向更危险境地，严重挑战中华民族的共同信念和中国人民的共同意志。
“The trend of reunification is unstoppable, and ‘Taiwan independence’ is doomed to a dead end. No one hopes to achieve the reunification of the motherland through peaceful means more than we do. We are willing to create a broad space for peaceful reunification, but we will never leave any room for various forms of ‘Taiwan independence’ separatist activities. No individual or force should underestimate the strong determination, firm will, and formidable capabilities of the Chinese government and people to defend national sovereignty and territorial integrity. We will never tolerate, appease, or show any softness when it comes to any form of Taiwan independence separatist behaviour. The more provocations for ‘independence’ intensify, the more resolute and powerful our counter-punishment measures will be.” 统一大势不可阻挡，“台独”注定死路一条。没有人比我们更希望通过和平的方式实现祖国统一，我们愿意为和平统一创造广阔空间，但决不为各种形式的“台独”分裂活动留下任何余地。任何人任何势力都不要低估中国政府、中国人民捍卫国家主权和领土完整的坚强决心、坚定意志、强大能力。对于任何形式的“台独”分裂行径，我们决不容忍、决不姑息、绝不手软，谋“独”挑衅越是变本加厉，我们的反制惩戒措施就会更加坚决有力.
The final bit talks about the one-China principle and how Beijing’s position has greater international support.
This bit from MoFA’s presser is also useful:
Reuters: After the drills around Taiwan this week, is China planning more “punishment” drills of such? And also does China plan to escalate its drills further?
Wang Wenbin: Each time ‘Taiwan independence’ separatists make waves, it garners stronger effort from China and the rest of the world to defend the one-China principle.
Page 7: There’s a report on Yang Kening, a former senior political advisor in Sichuan Province, being expelled from the Party and dismissed from public office over serious violations of Party discipline and laws.