Election called, trilateral meetings, and millennial gap years

Welcome to China in 5, from the British Chamber of Commerce in China.

Each week, we bring you up to speed with what’s caught our eye in the China-sphere in five(ish) minutes.?Grab a coffee, take a break, and dive in!

Rishi Sunak calls general election for 4th July, with polls predicting a change of government

What's the background? Shortly after the launch of the Chamber’s Position Paper, Prime Minister Rishi Sunak surprised onlookers by calling a snap General Election, which will take place on 4 July. Sunak has committed to holding the election in the second half of this year, but few had predicted that he would pick the first possible date in that period. Parliament will now dissolve on 30 May before 5 weeks of campaigning, with polls predicting the country will see a change of government.

Fact 1 This will be the first July election since Clement Attlee became the first Labour Party Prime Minister in 1945, though it sees the country return to holding elections in the summer after a December election in 2019.

Fact 2 In the meantime, government departments and agencies are prohibited from making significant policy announcements but can go ahead with smaller bilateral meetings.

Fact 3 With Parliament no longer sitting, the UK won’t see any new policies introduced until after the election.

Businesses are reportedly happy to see an earlier general election. With the clock ticking towards a deadline later this year and many looking to the next election, a new Parliament will see more clarity as the UK looks to answer important questions about the direction of the country. Central to this will be how the UK will deal with China and the Chamber hopes that it can continue to share key perspectives on the ground with the government regardless of the result. Harry Bell , BritCham Policy and Advocacy Manager

Headline 2: China hails ‘new beginning’ at summit with Japan and South Korea

What’s the background? Chinese Premier Li Qiang travelled to Seoul for a summit with South Korean President Yoon Suk Yeol and Japan’s Prime Minister Fumio Kishida. The meeting is the first since 2019 and was arranged at short notice, with talks focusing on a potential free trade agreement.

Fact 1 The summit is understood to have been arranged at short notice, with the three countries previously locked in discomfort over Japan and South Korea’s participation in US export controls designed to restrict Chinese access to certain technologies.

Fact 2 The three countries are understood to have agreed to strengthen supply chain co-operation and to improve communication on export controls.

Fact 3 Beijing reaffirmed the importance of foreign-funded enterprises at the meeting, with the country having looked to prioritise attracting foreign investment in the last 12 months.

Having strained relations between Japan, South Korea and China is negative for the stability of the region, so such cooperation will be important. It is still unlikely such summits will lead to concrete steps towards any free trade agreement, but there are still positives. Some of the issues touched upon such as academic exchanges, tourism, cooperation on climate change and pandemic planning are all areas where countries should be looking to engage with. Charlie Williams 魏家礼 , BritCham Business Growth and Commercial Manager

Why are China young professionals so eager to live in nursing homes?

Why we like it: Retirement homes in China aren't just for the elderly anymore. A new trend is emerging where young professionals, feeling burned out, are choosing to "retire" early, often in their 30s. These facilities embrace lifestyle philosophies like "FIRE" (financial independence, retire early) and "lying flat," which means doing the bare minimum to get by. These youth-focused retirement homes are popping up all over China, from Yunnan in the southwest to Shandong in the east. They focus on mental well-being and offer amenities like bars, cafes, and karaoke rooms, providing spaces for socializing and relaxation. Most of the residents are in their 20s and 30s, using these homes as a temporary retreat rather than a permanent stay. They treat this time as “gap years” or “gap months” to reset their careers. The popularity of these homes shows that young Chinese adults are looking for alternatives to the typical career path. Additionally, more people in China are following the "FIRE" movement, aiming to retire permanently in their 30s or 40s through aggressive savings and investments. This trend, alongside the "lying flat" approach, is becoming more popular as young people seek a better work-life balance.

Podcast of the Week: In Our Time: Empress Dowager Cixi

Why we like it: In Our Time is one of the stalwart pieces of BBC Radio, with host Melvyn Bragg having hosted over 1000 episodes dating back to 1998. The series of programmes and podcasts has an audience of over two million listeners, so it’s quite an important level for improving understanding of China in the UK. This week’s programme saw Bragg invite historians Yangwen Zheng, Rana Mitter and Ronald Po to discuss the life of Empress Dowager Cixi, a fairly unpopular character in China. The piece charts her early life and rise to power, before talking about different perspectives on her role in the development of modern China.

And finally...

We love this graphic by VALUES, Inc. about how Gen Z are using social media across China, the US, Thailand, Vietnam and Indonesia. Unsurprisingly, WeChat is by far the most popular social media in China; Bilibili, Douyin, QQ and Weibo also rank within the top five. Meanwhile, in the US, brands like YouTube and Instagram take top places; TikTok, with its Chinese parent ByteDance, takes bronze medal place in the US and ranks in the other three countries.

Thanks for reading China in 5! Have thoughts about what you'd like to see, suggestions for our coffee break reads, or a favourite podcast you want to share? Let us know below, or reach out via our website at britishchamber.cn.