China’s planned bureaucratic overhaul looks set to further entrench Communist Party control. The proposals, which are likely to be rubber-stamped this week, include a new financial regulator, a new nationwide data bureau, and a restructured science and technology ministry that aims to help China “move faster toward greater self-reliance.” [China Revamps Bureaucracy to Boost ... - Bloomberg Law News- Semafor]
Lunedì sera la Cina ha pubblicato un documento politico chiave noto come "documento centrale n. 1" per il 2023, in cui la seconda economia più grande del mondo ha sottolineato la sua determinazione a "spingere in modo completo" la vitalizzazione rurale con gli sforzi congiunti del Partito comunista cinese e del tutta la società, nonché accelerare il raggiungimento della modernizzazione rurale. [China vows to push rural vitalization comprehensively with launch of No.1 central document for 2023 – GT]
Beijing municipal officials said they would support companies developing artificial intelligence tools rivaling ChatGPT. [ChatGPT frenzy prompts China firms to seek home-grown ... - japantimes]
City and provincial authorities spent huge amounts to maintain the country’s zero-COVID policy from mass testing to enforcing quarantines, while tax revenues dropped due to regular, strict lockdowns. Governments have responded by cutting civil servant pay, paring back public transport, and even reducing heating subsidies, CNN reported.
China’s economy is set to rebound this year as mobility and activity pick up after the lifting of pandemic restrictions, providing a boost to the global economy. When China’s growth rate rises by 1 percentage point, growth in other countries increases by around 0.3%. That underscores how domestic reforms could boost China’s economy and that of others too. [China’s Economy is Rebounding, But Reforms Are Still Needed – IMF]
Kenya’s transport secretary took to Twitter earlier this week to post documents, including three agreements of the $5 billion loans advanced to Kenya by China’s Export-Import Bank (Exim Bank) for the construction of the 590-kilometer Mombasa-Nairobi-Naivasha Standard Gauge Railway (SGR). [Kenya is gripped by a $5 billion China rail loan saga - Semafor]
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