China this week: Key events and priorities
The China Briefing has published its weekly review of key news and events in China, highlighting the country's active participation in the international agenda and the development of domestic initiatives over the past week.
1. Economy: Towards a Unified National Market
On July 1st, Chinese President Xi Jinping, during a meeting of the Central Commission for Financial and Economic Affairs, emphasized the importance of establishing a unified national market and developing the marine economy. This strategy, initiated in April 2022, aims to eliminate market fragmentation and local protectionism to stimulate high-quality economic growth. In January of this year, the National Development and Reform Commission (NDRC) already presented guiding principles for the implementation of this initiative, designed to remove barriers to economic growth.
2. Trade with the U.S.: Easing Export Controls
China and the United States have commenced the practical implementation of the agreements from the London Framework Agreement. On July 4th, the Chinese Ministry of Commerce confirmed that China is reviewing applications for export licenses, while the U.S. announced the lifting of several trade restrictions on microchip software and ethane. Consequently, leading global developers of electronic design automation (EDA) software—Synopsys, Cadence Design Systems, and Siemens—have restored access to their products for Chinese clients.
3. Diplomacy: Wang Yi's Visit to Europe Ahead of China-EU Summit
Chinese Foreign Minister Wang Yi's seven-day visit to Europe marked a significant preparatory stage for the upcoming China-EU summit. During dialogues with European leaders, Wang Yi urged Europe to adopt a pragmatic and rational stance toward China, emphasizing that "China is not the U.S." Discussions also covered peace talks on the Ukrainian crisis and issues related to the export of rare earth metals.
4. Commemoration: 80th Anniversary of Victory in World War II
On July 3rd, China unveiled a series of cultural events and artworks commemorating the 80th anniversary of the victory in the Chinese People's War of Resistance Against Japanese Aggression (1931-1945) and the World Anti-Fascist War. This event, which resulted in over 35 million Chinese casualties, will be widely celebrated on September 3rd—China's Victory Day, commemorating the signing of the Instrument of Surrender by Japan on September 2nd, 1945.
5. Naval Forces: Aircraft Carrier Drills and Hong Kong Visit
On June 30th, the Chinese People's Liberation Army Navy (PLAN) announced the completion of combat drills in distant waters, including the Western Pacific. On July 3rd, the aircraft carrier Shandong, with its deck-based fighters and marines, arrived in Hong Kong for a five-day visit that included public tours. This visit coincided with the 28th anniversary of the city's return to China.
ORIENT
