SwedCham China Insights for the Week of June 26 - June 30 , 2023

Top news of the week:

World Internet Conference (WIC) Nishan Dialogue opens in Qufu

June 26, 2023

The WIC Nishan Dialogue on Digital Civilization, held in Qufu, China, focused on strengthening cooperation for AI and Internet industry development post-COVID-19. With approximately 400 representatives attended, including John Hoffman (GSMA CEO), Mohamed Ben Amor (Secretary-General of Arab ICT Organization), Robin Li (Baidu Chairman and CEO), Daniel Zhang (Alibaba Group Executive Chairman and CEO), Zhou Hongyi (360 Group Founder), Chen Xudong (IBM Greater China Chairman and GM), Qian Kun (Qualcomm Global SVP), and Tao Jiang (Intel Vice President). The dialogue emphasized digital cooperation, technological innovation, and ethical standards to empower industries worldwide and bridge the digital divide for sustainable development goals.

2023 Summer Davos Forum returns to Tianjin after a five-year hiatus

June 27, 2023

The World Economic Forum (WEF) 14th Annual Meeting of the New Champions, also known as Summer Davos Forum, kicked off in north China's city of Tianjin on June 27. The three-day forum is themed "Entrepreneurship: The Driving Force of the Global Economy." Prime Minister of Barbados Mia Mottley, Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai, Prime Minister of New Zealand Christopher Hipkins, Prime Minister of Vietnam Pham Minh Chinh, Director-General of the WTO Ngozi Okonjo-Iweala and over 120 entrepreneurs from more than 20 countries and regions were in attendance. Premier Li Qiang addressed the opening speech, and emphasized that China is willing to stand firm with entrepreneurs from all countries, staunchly support economic globalization, uphold market economy, and firmly support free trade to lead the world economy towards a more inclusive, resilient, and sustainable future.

President Xi Jinping meets with the leaders of Mongolia, New Zealand, Barbados, and Vietnam

June 28, 2023

In June 27, President Xi Jinping met with Prime Minister of Barbados Mia Mottley, Prime Minister of Mongolia Oyun-Erdene Luvsannamsrai, Prime Minister of New Zealand Christopher Hipkins, and Prime Minister of Vietnam Pham Minh Chinh. The focus of the meetings was on the economic ties with China, especially regarding the Belt and Road Initiative.

China passes the law on foreign relations

June 29, 2023

On June 28, the "The Law on Foreign Relations of the People's Republic of China" was adopted by the third session of the 14th National People's Congress Standing Committee. This is the first foundational and comprehensive law on foreign relations in China. The law aims to safeguard China's sovereignty, national security, and development interests. For the first time, this law codifies the extraterritorial application system of Chinese laws, clarifies the purposes, conditions, and policy orientations of applying Chinese laws in foreign relations, and establishes principles for countermeasures and restrictions against foreign countries, individuals, or organizations.

Greater Bay Area signs a Memorandum on cooperation on promoting cross-border data flow

June 30, 2023

On June 29, the Cyberspace Administration of China and the Innovation and Technology Bureau of the Hong Kong SAR, China signed a memorandum of cooperation on promoting cross-border data flow in the Guangdong-Hong Kong-Macao Greater Bay Area. The memorandum establishes security rules for cross-border data flow, promotes safe and orderly data flow in the region, and supports the high-quality development of the Greater Bay Area. On the occasion of the 26^th anniversary of Hong Kong’s return to China, this collaboration will further strengthen cross-border data flow between mainland China and Hong Kong SAR and promote the innovative development of the digital economy in the Greater Bay Area.

Insight of the week:

The 14th National People's Congress Standing Committee held its third session in Beijing from June 26 to June 28. During the conference, two laws were adopted, namely “The Law on Barrier-free Environment Construction” and the “The Law on Foreign Relations”. “The Law on Foreign Relations” is the first foundational and comprehensive law on foreign relations in China. The law states that it is aimed at safeguarding China's sovereignty, national security and development interests, and realizing the great rejuvenation of the Chinese nation. The law states that the Chinese government will take necessary measures to protect the safety, security and legitimate rights and interests of Chinese citizens and organizations overseas, and safeguard China's overseas interests against any threat or violation. The Law enables China at the legislative level to impose sanctions or make counteractions against foreign sanctions. On the other hand, based on China’s intensified problem of aging, “The Law on Barrier-free Environment Construction” aims to meet the pressing demands of disabled and elderly people and promote the shared benefits of development for all members of society. The enactment of this law is of great significance in promoting social inclusiveness and equitable development. August 15 is chosen as National Ecological Day to better learn, promote, and implement the principles of sustainable development. Finally, a decision was made to establish a Working Committee of Deputies of the Standing Committee of NPC to further strengthen the direct connection between the NPC Standing Committee and the NPC representatives.