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The Fifth Plenum concluded on October 29, adopting a Decision on tougher Party governance. Senior officials the held a press conference on October 30 to elaborate on the outcomes of the plenum. We've been analyzing the plenum communiqué and press conference to understand what they mean for China'... Username Password Remember Me Forgot… Read More »
The Fifth Plenum was all about Party governance. But that doesn't mean it won't affect the economy and business environment. The Decision targets a Party with more than 100 million members, including the officials who approve projects, draft regulations, and run the state. Changes to how they are ev...
Policy banks’ seed capital is flowing to factories as well as infrastructure, muddying its stimulus impact. Some context: Infrastructure projects must secure 15–25% of total funding as seed capital before applying for loans and breaking ground. This capital typically comes from local governments – ...
The recently concluded Fifth Plenum passed over PBOC deputy governor and foreign-exchange chief Zhu Hexin when promoting alternate Central Committee members. That shouldn't have happened: Under the Party constitution, alternates are supposed to be promoted in order of the votes they received at th...
Local intellectual property regulators are making it easier for AI companies to get patents. What happened: On October 28, the Jiangsu IP administration (CNIPA) said that nine provincial IP protection centers had opened up fast-track channels for AI companies to get their patents approved rapidly. ...
What happened: On October 23, top diplomat Wang Yi released China's 10-point Position on Strengthening Outer Space Governance at the Global Governance Forum in Xiong'an. It's the latest deliverable under the Global Governance Initiative (GGI) – Xi's 2025 push for global rule-setting influence – and...
What happened: In a Caixin interview published October 28, Chinese scholar Gong Ke argued that "not developing [AI] is the biggest security risk [for China]." Gong is a firm believer in this mantra and has repeated it often in public. Why listen to Gong? He sits on the AI ethics subcommittee of th...
China’s policy banks have fully deployed their RMB 800 billion quota in seed capital for infrastructure projects. By end-September they had only deployed RMB 100 billion – meaning the remaining RMB 700 billion was distributed across this month. Some context: Infrastructure projects must secure 15–...
25 of China’s 31 provinces are growing more slowly than a year ago – but the slowdown isn’t even. Per provincial GDP data, powerhouse coastal economies are growing at broadly the same pace as last year. From January to September, Shanghai and Shandong grew at the same rate as 2025, while growth for...
The Party's Fifth Plenum was heavy on discipline – and light on surprises. The CCP wrapped up its four-day meeting on October 29, issuing a communiqué that largely reiterated familiar priorities. We will dig in deeper tomorrow, but a couple things caught our eye: The Party wants stricter collective...
Brussels wants a stronger yuan – and is taking its case to Beijing. On October 28, the SCMP reported that EU economic officials, led by European Commission director-general Maarten Verwey, will travel to Beijing in the week of November 23 for macroeconomic talks. A more senior EU delegation may fol...
The US has blacklisted more Chinese companies – and Beijing is gearing up to retaliate. On October 28, the US Department of Homeland Security added three Chinese genomics firms – BGI Genomics, MGI Tech, and BGI Group – to the Uyghur Forced Labor Prevention Act (UFLPA) entity list. The move effectiv...
On Monday, we wrote about the US Treasury's draft outbound investment rules under the COINS Act, focusing on the expanded AI controls. But there's more to it: The draft rules would also bar US investment in Chinese biotech. Treasury calls the sector "an acute risk" to US national security, citing b...
What happened: On October 23, Hong Kong-listed MiniMax announced it had completed export registration with the commerce ministry (MofCom) for open-sourcing and licensing several recent and upcoming models overseas. The same day, MiniMax released the open weights of its M3.1 Flash model. Some conte...
Private capital and state-owned enterprises (SOEs) are funding the bulk of China's "six networks" buildout. That's according to Wang Yiming – a former deputy director at the State Council's Development Research Center – who we rank as China’s 10th most influential economist. ICYDK: The six network...
