China
10 years on, Belt and Road goals shift with China’s ambitions
A decade ago, amid much fanfare, Chinese President Xi Jinping launched the Belt and Road program, a grand plan to build a global infrastructure and supply chains that would connect China to the rest of the world in a modern and many-pronged Silk Road – and hypothetically benefit everyone involved.
Next month, Beijing will host the third Belt and Road Forum for International Cooperation, with confirmed attendance from a number of world leaders and representatives from 90 countries, state news agency Xinhua reported.
What started out as a way to boost trade ties, secure energy supplies and invest in global infrastructure has now branched out to include digital, health, cultural, security, and sustainable development projects, some of which have been dogged by labor issues and cost overruns.
Playing off the motif of the ancient trade route that linked China to the Mideast and Europe, Its components are many, and include the Digital Silk Road, the Silk Road on Ice, the Healthy Silk Road, the Space Silk Road, and the Green Silk Road.
In fact, today almost all of China’s overseas cooperation projects could be classified as part of the Belt and Road Initiative. Xi has termed it the “project of the century.”
Critics of how China uses its rising power are less sanguine. The United States has accused China of “debt diplomacy” – trapping nations with financial liabilities for major infrastructure projects they can ill-afford and which might be leveraged for Beijing’s political benefit.
$1 Trillion in investment
The forum comes four years after the last Belt and Road summit in 2019, and is part of China’s bid to show off the program’s achievements to the international community after a decade in operation.
The program has sparked some US$1 trillion of investments, foreign ministry spokesman Wang Wenbin told a recent news conference. Around 83% of China’s diplomatic allies and nearly 80% of the 193 UN member states have gotten involved.
Over the past decade, China has signed more than 200 cooperation agreements with 152 countries and 32 international organizations under the plan.
China now spends twice as much on international development finance as the United States, according to the U.S.-based organization AidData, with most of that increase occurring during the past 10 years.
There has been a political benefit as well: Some of those deals have led partner countries to publicly support Chinese Communist Party propaganda on Xinjiang, where China has persecuted 11 million Uyghurs and other Turkic minorities and sought to erase their culture.
What’s the goal?
Researchers have been collating vast amounts of data and official sources to try to answer questions about the purpose of the Belt and Road — does it fulfill China’s economic, diplomatic or strategic ambitions?
The answer is all of the above.
It facilitates the offshoring of China’s production capacity, offers a powerful tool for the country’s diplomats and is also a key plank in Beijing’s geostrategic framework.
It expands China’s global influence and promotes Xi Jinping’s ultimate vision of creating a China-centered global order.
And with the decoupling of China’s flagging economy from that of the United States, and China’s exclusion from key technology supply chains, China appears to need the Belt and Road Initiative more than ever.
Radio Free Asia is marking the 10th anniversary of the Belt and Road with a series of features about how the plan has evolved over the past decade, and its impact on the countries and people it touches.
For example, China has been dialing back investment in overseas infrastructure projects, while boosting it in the digital sector.
The country’s homegrown global navigation satellite system Beidou now spans 165 capital cities around the world, providing broader coverage than GPS created by the United States.
Huawei, which has been widely boycotted by governments in Europe and the United States, built 70% of the 4G networks currently in operation in Africa.
Exporting surveillance platforms
Meanwhile, China has continued to export surveillance platforms for policing and domestic security to at least 80 countries around the world.
The technology sector has become a hotly contested battleground in China’s global strategic plan, which includes exporting its brand of digital authoritarianism, while competing for a share of future markets.
Globally, 2.9 billion people still lack access to the internet, and China has set its sights on the digital divide, hoping to gain the support of more countries by gaining a foothold in emerging markets, where it can position itself as the digital standard-setter.
Indonesia – the fourth most populous nation on the planet – is one of those markets. Nearly half of its 270 million people are under the age of 30, making it uncharted territory for the digital economy.
Yet Chinese telecoms giant Huawei is already charting that territory, offering cheaply built infrastructure, personnel training and government publicity services.
Radio Free Asia has been examining some of the concerns and potential threats posed by China’s monopolistic practices in the region.
China’s digital presence can also be felt across a number of large-scale regional infrastructure projects.
The China-Laos high-speed railway doesn’t just run on Chinese-gauge tracks with Chinese-made locomotives and rolling stock: it also uses Chinese technology in its ID-card verification system and security checkpoints.
Resistance
Some countries and leaders have tried to resist the “China model,” including former Micronesian President David Panuelo.
In an open letter published two months before he left office in May 2023, Panuelo said China had used a combination of…
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Business
Business Update: Southern Sun Reports Earnings Growth; China Stimulates Property Market – News24
Southern Sun reports increased earnings, attributed to growth in the hospitality sector, while China’s property market receives a boost, reflecting economic recovery and renewed investor confidence.
Southern Sun Earnings Surge
Southern Sun has reported a significant increase in its earnings, showcasing solid financial performance amid evolving market conditions. This growth highlights the company’s resilience and adaptability to changing consumer demands, positioning it well for future opportunities in the hospitality industry.
China’s Property Market Recovery
In a bid to rejuvenate its economy, China has introduced measures to boost its property market. These initiatives aim to stabilize real estate prices and encourage investment, which is crucial for maintaining economic momentum. The government’s commitment to supporting the sector reflects its understanding of the industry’s importance in overall economic health.
Broader Economic Implications
The rise in Southern Sun’s earnings and China’s proactive approach to revitalizing its property market indicate broader economic trends. Investors and stakeholders are keenly observing these developments, as they may signal recovery and growth opportunities in both the hospitality and real estate sectors. The collaboration between local businesses and governmental actions will be pivotal in shaping future economic landscapes.
Source : Business brief | Southern Sun sees earnings rise; China boosts its property market – News24
China
Vietnam’s Approach to China: A Balance of Cooperation and Struggle
Vietnam’s diplomatic strategy seeks a balance of cooperation and struggle with China, focusing on strengthening ties while resisting encroachments in the South China Sea through military enhancements and regional partnerships.
Vietnam’s Diplomatic Strategy
Vietnam’s diplomatic approach seeks to maintain a delicate balance between cooperation and struggle with China. While concerned about China’s growing influence, particularly in the South China Sea, Hanoi focuses on strengthening its economic and political ties. This effort involves military enhancements, fostering relationships with regional powers, and engaging in frequent political dialogues. By skillfully navigating relations with major powers, Vietnam aims to protect its sovereignty and foster stability amidst evolving geopolitical dynamics.
Recent Developments and Implications
Hanoi’s diplomatic maneuvering has drawn attention, particularly regarding key visits like Vietnamese Communist Party General Secretary To Lam’s August 2024 trip to China. Although there are apprehensions about a potential shift in Vietnam’s alignment due to To Lam’s background in public security and his anti-corruption initiatives, it is premature to predict any significant changes in policy. Vietnam’s leaders must continuously seek a balance between peaceful coexistence with China and safeguarding national sovereignty.
Economic Interdependence and Military Modernization
Vietnam’s strategy involves fostering economic interdependence with China while simultaneously resisting encroachments. This paradigm of “cooperation and struggle” enables Hanoi to cultivate beneficial ties in economic, political, and security domains. By leveraging its geographical advantage and connections, Vietnam enhances its economic ties while countering threats through military modernization and cooperation with regional partners. This nuanced approach allows Vietnam to welcome trade, particularly amidst shifting dynamics from the US-China trade war, ensuring continued foreign direct investment and growth in key sectors.
Source : Cooperation and struggle define Vietnam’s approach to China
China
2025 Schedule of Public Holidays in China
China’s 2025 public holiday schedule increases holidays by two days, with an 8-day Spring Festival and a 5-day Labor Day. Adjustments address public frustration, though long work periods persist. Notably, weekends are often designated as workdays to balance extended breaks.
China has released its 2025 Public Holiday schedule. Compared to 2024, the number of public holidays for all citizens has increased by two days, specifically for Lunar New Year’s Eve and May 2nd.
The announcement also clarifies the adjusted holiday arrangements, stating that the continuous work period before and after statutory holidays generally should not exceed six days, except for certain special circumstances.
According to the notice, in 2025, the Spring Festival will have an 8-day holiday, the Labor Day holiday will last 5 days, and the National Day and Mid-Autumn Festival will jointly have 8 days off.
China has long been considered one of the least generous countries in terms of public holidays. Additionally, people have expressed frustration over the complicated adjustments to holiday and working days that are meant to create longer breaks. The newly introduced changes are expected to address these concerns to some extent.
Beyond the newly introduced changes, China’s 2025 public holiday schedule still features two major week-long holidays: Spring Festival (also known as Chinese New Year) and the National Day holiday (often called ‘Golden Week’).
In 2025, the Spring Festival falls between January 28 and February 4, and the National Day holiday, together with the Mid-Autumn Festival, fall between October 1 and 8.
Foreign human resource managers should note that Saturdays and Sundays are often marked as additional official workdays in China to compensate for long holiday breaks. For example, January 26 (Sunday) and February 8 (Saturday) are designated as workdays to partially offset the eight days off for the Spring Festival.
This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, and India . Readers may write to info@dezshira.com for more support. |
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