CNAD-#46-Updates about ????+(???????????????????????????????????????????????????) & ???????

Everyday Briefing: 2024-05-06

??Neighbourhood First??

???? Adani Ports and Special Economic Zone Limited (APSEZ) is considering Bataan in the Philippines to establish a 25-meter-deep port capable of accommodating Panamax vessels.

The Philippines President, Ferdinand R. Marcos Jr., has shown positive interest in APSEZ's expansion plans, highlighting the strategic significance of enhancing the country's port infrastructure to improve its competitiveness in global markets.

Adani Enterprises is also interested in investing in other sectors in the Philippines, such as airports, power, and defence.

In addition to investments in ports across India, APSEZ has investments in three international ports, including the West Container Terminal (WCT) of Colombo Port, Haifa in Israel, and the Abbott Point Terminal on Australia's Pacific Ocean seaboard.

???China-Foreign Affairs??

???? Chinese President Xi Jinping's Special Representative and Vice Chairman of the Standing Committee of the National People’s Congress, Zheng Jianbang, attended the 15th Islamic Summit Conference of the Organization of Islamic Cooperation (OIC) in Banjul, the Gambia, from May 4 to 5. During the conference, he conveyed President Xi's congratulatory message and discussed strengthening cooperation between China and Islamic states.

???? Additionally, US Deputy Assistant Secretary of State Mark Lambert's remarks regarding Resolution 2758 and Taiwan's participation in the UN were strongly condemned by Lin Jian, who emphasized the resolution's historical and legal context and reiterated China's stance on the one-China principle.

???? Chinese officials responded to statements from Philippine authorities denying any arrangements with China regarding the Ren’ai Jiao issue, including the "gentlemen’s agreement" and the "new model" arrangement. Lin Jian clarified that these arrangements were made through dialogue and consultation, emphasizing China's commitment to managing maritime disputes peacefully. Despite Philippine denials, Lin Jian reiterated that these agreements aimed to prevent conflict and build trust.

Regarding President Marcos' comments on water cannons in the South China Sea, Lin Jian urged the Philippines to refrain from activities that exacerbate tensions and mislead the international community. Lin Jian reiterated China's stance on military drills, emphasizing the need for exercises to avoid harming third-party interests and to maintain regional peace and stability.

???? Regarding relations between the Kurdistan Region and Iran, China welcomes friendly relations between countries in the region.

???? China also congratulated former Foreign Minister Jeremiah Manele on being elected Prime Minister of Solomon Islands, expressing readiness to enhance bilateral cooperation under his leadership.

??????? Lin Jian reiterated China's stance on territorial integrity, emphasizing Taiwan as an integral part of China's territory and opposing any actions threatening sovereignty under the guise of navigation rights. Lin Jian urged countries to contribute to regional peace instead of provoking instability in the Taiwan Strait.

???? Lin Jian dismissed Canadian allegations of Chinese interference in elections as baseless, criticizing them as politically motivated and lacking evidence. China urged Canada to stop groundless accusations and focus on mutual respect in bilateral relations.

???? Lin Jian expressed condolences over flooding in Kenya, offering support for relief efforts and noting no reported casualties among Chinese nationals. Lin Jian announced the upcoming visit of UN Special Rapporteur Alena Douhan to China, highlighting constructive engagement on human rights issues.

???? Serbia's Minister of Construction, Transport, and Infrastructure, Goran Vesic, emphasized the positive impact of Serbia's participation in the Belt and Road Initiative (BRI) on overall development. He highlighted the significant infrastructure projects undertaken by Chinese companies in Serbia under the BRI, contributing to economic growth and regional development. Vesic praised China's transport infrastructure development as a model for economic growth and

highlighted the successful cooperation between China, Hungary, and Serbia on projects like the high-speed railway between Belgrade and Budapest.

He also mentioned the free trade agreement between China and Serbia signed last October, which is expected to offer opportunities for Serbian and European enterprises and boost exports to China. Vesic expressed Serbia's interest in developing smart, environmentally sustainable infrastructure and electric vehicles, hoping for cooperation with China in these areas. He also mentioned the Serbian-Chinese Science and Technology Park in Borca as a platform to attract more Chinese companies and foster collaboration in areas where China excels globally.

???? Fabrice Fourcade, Chairman of EDF's China branch, highlighted the significant potential for China-France cooperation in nuclear and low-carbon energy sectors. Over 40 years, EDF's collaboration with Chinese partners, notably CGN and CNNC, has built mutual trust and laid foundations for future cooperation. EDF played a crucial role in projects like Daya Bay Nuclear Power Plant. Currently, partnerships extend to material aging and digital technology. Additionally, nearly 50 French SMEs in the nuclear industry are involved in China, showing significant development. With growing global recognition of nuclear energy's role in reducing carbon emissions, Fourcade stressed leveraging the longstanding technical cooperation and industrial closeness between France and China for successful future projects in the sector.

A Sino-French gastronomy festival aboard a boat along the Seine showcased signature dishes like French scallops with pineapple and mille-feuille of red fruits with Bourbon vanilla. Attended by 70 guests from China and France, including government officials and culinary experts, the event celebrated the 60th anniversary of diplomatic relations between the two countries. Chefs Ku Chi Fai and Regis Douysset blended Chinese and French cuisines using seasonal ingredients like truffles and pineapples, highlighting cultural exchange. Traditional cultural performances and demonstrations, including zither and violin duets, added to the festivities. Guests also enjoyed traditional Chinese tea processing techniques and tasted popular teas like "Biluochun" and trendy Chinese herbal teas. The festival is one of 16 major cultural exchange activities planned between China and France this year.

Chinese President Xi Jinping expressed his hope for China and France to strengthen their relations and contribute to global peace, stability, and development. He arrived in France for a state visit, aiming to deepen exchanges with President Emmanuel Macron on bilateral and international issues. Xi emphasized the longstanding friendship between the two countries, recalling previous visits and celebrating the 60th anniversary of diplomatic ties. Highlighting the historical ties between Chinese and French civilizations, Xi stressed mutual appreciation and admiration. He praised the breakthrough in diplomatic relations 60 years ago, noting their ability to coexist peacefully despite different social systems. Xi's visit aims to enhance political trust, build strategic consensus, and deepen cooperation across various fields.

During his state visit to France, Chinese President Xi Jinping expressed his desire for China and France to strengthen their relations and contribute to world peace, stability, and development. He highlighted the importance of deepening exchanges and cooperation in various fields and building strategic consensus. Xi emphasized the historical ties between the two countries, noting their long-standing friendship and mutual appreciation. He celebrated the 60th anniversary of diplomatic relations, highlighting the rich history of cultural exchange between China and France. Xi acknowledged the breakthrough in diplomatic relations 60 years ago and praised the bilateral cooperation as an example of peaceful coexistence and win-win cooperation between countries with different social systems.

Chinese President Xi Jinping outlined three messages he will bring to France during his visit.

Firstly, China aims to uphold the spirit that guided the establishment of diplomatic ties with France, build on past achievements, and open new avenues for bilateral relations.

Secondly, China plans to further open up to the world, deepen cooperation with France and other nations, and strengthen communication for global peace and stability.

Thirdly, Xi emphasized the significance of China-France relations as a bridge between East and West, fostering dialogue and cooperation. He welcomed investment from French and other foreign companies in China, highlighting China's openness in various sectors.

Additionally, he proposed deeper cooperation between France's green innovation-based re-industrialization and China's development of new quality productive forces. Regarding international issues, Xi expressed China's hope for peace and stability in Europe amid the Ukraine crisis and emphasized cooperation with France on the Palestine-Israel issue to restore peace in the Middle East. He underscored the common values and historical interactions between China and France, shaping the trajectory of the world.

???? An event in Sofia hosted by the China Cultural Center advocated for increased cultural exchanges between China and Bulgaria, aiming to foster mutual understanding and learning between civilizations. Bulgaria's Vice President emphasized the importance of knowing and understanding each other for successful cooperation. Representatives from both countries expressed optimism about sustaining friendly ties and enhancing cooperation in the future. The event, co-organized by the Chinese Association for International Understanding and the local newspaper China Today, was seen as a promising start for ongoing dialogue and exchange between the two nations.

???? During the May Day holiday, Vietnamese tourists led by guide Vuong Van Thanh visited Dongxing, China, via the Beilunhe Bridge from Mong Cai. Dongxing, known for its proximity to Vietnam and distinctive Chinese customs, attracts Vietnamese visitors interested in Chinese cuisine. Outbound travel from China surged during the holiday, with Southeast Asian countries like Thailand, Vietnam, and Indonesia being popular destinations. One-day tours to border cities like Dongxing have become trendy, offering shopping and culinary experiences. The May Day holiday, celebrated in China and Vietnam, sees significant cross-border tourism, with Dongxing Port expecting over 140,000 passengers. To manage the influx, border authorities coordinate with Vietnamese agencies to ensure a smooth travel experience for visitors.

?? During the five-day May Day holiday, China's box office achieved a gross revenue of over 1.52 billion yuan, making it the third highest-grossing May Day holiday in history. The holiday saw a record-breaking number of screenings, totalling 2.4 million.

The action thriller "Formed Police Unit" led the holiday sales chart with earnings of 405 million yuan, followed by the Chinese comedy "The Last Frenzy" with 390 million yuan. The Hong Kong action crime thriller "Twilight of the Warriors: Walled In" secured the third position, earning 252 million yuan during the holiday.

?? On Monday, the central parity rate of China's currency, the renminbi (yuan), against the U.S. dollar rose by 69 pips to 7.0994, reported by the China Foreign Exchange Trade System. The yuan can fluctuate by up to 2% from this central parity rate in China's spot foreign exchange market. A weighted average of market maker prices before each trading day determines the central parity rate.

Additionally, China's benchmark prices for spot interbank gold transactions were mixed on Monday, with the price for gold of 99.95% purity rising by 3.3 yuan per gram and the price for gold of 99.99 % purity decreasing by 3.26 yuan per gram.

In the interbank price inquiry market, spot transaction prices can fluctuate within 15% from the benchmark prices daily. The interbank gold price inquiry business, introduced in 2012, aims to enhance market liquidity and trading models. Furthermore, China's interbank treasury bond index in net price opened higher at 1,021.41 points on Monday compared to the previous close of 1,021.11 points, reflecting real-time trading of treasury bonds in China's interbank bond market. The index updates every five minutes from 9 a.m. to 5 p.m. daily. Notably, the overnight Shanghai Interbank Offered Rate (Shibor), which reflects the borrowing cost in China's interbank market, declined by 14.4 basis points to 1.777%. The seven-day rate decreased by 23.5 basis points to 1.874 %, while the one-month rate slightly dropped by 0.3 to 1.958%. However, the one-year rate increased slightly by 0.2 basis points to 2.111%. Shibor is a wholesale interest rate calculated by averaging interbank RMB lending rates from 18 commercial banks, excluding the four highest and lowest quotations.

??? During the recent five-day May Day holiday, China saw a significant rise in domestic and international tourism.

Border inspection agencies processed nearly 8.47 million entry and exit trips, a 35.1% increase from last year.

Yunnan province welcomed over 38 million tourist trips, generating more than 41 billion yuan in tourism revenue, up 8.8% from last year.

Meanwhile, domestic tourist trips nationwide reached approximately 295 million, reflecting a 7.6% year-on-year increase and a substantial 28.2% surge from 2019.

Tianjin, a prominent destination, saw a 27.5% rise in tourist arrivals, with 14 million visitors contributing to tourism revenue of 12.2 billion yuan. Tianjin ranked among the top destinations nationally, especially favoured by younger travellers and families. Online tourism transactions in Tianjin spiked by 38.7%, with inbound tourism orders increasing by an impressive 65% during the holiday period.

Stay Tuned with China News Analysis Daily Newsletter: Published and Upcoming Editions this month.

?? CNAD-Policy-Relevant Analysis-Monday Review

?? CNAD-Deep Dive -Weekly Report

?? CNAD-Global Perspectives - Monthly Report

?? CNAD-Engagement and Dialogue

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