SwedCham China Insights for the Week of November 27 - December 1 , 2023

China trials visa-free travel for six countries

November 27, 2023

China is trialling visa-free travel for citizens from France, Germany, Italy, the Netherlands, Spain and Malaysia for a year. From 1 December 2023 to 30 November 2024, ordinary passport holders from these countries can do business or travel in China without a visa for up to 15 days.

Xi-led top body discusses guidelines for Chinese leadership on foreign affairs

November 28, 2023

President Xi Jinping chaired a meeting on November 27 to discuss guidelines for leadership on foreign affairs of the country. The meeting stressed the need to further strengthen the centralized and unified leadership of the CPC Central Committee over foreign affairs, and accelerate efforts to create a sound system of laws and regulations on foreign-related matters.

Xi Jinping makes inspection tour in Shanghai

November 29, 2023

Xi Jinping made an inspection tour in east China's Shanghai from November 28 to November 29. During his trip, Xi inspected the Shanghai Futures Exchange, an exhibition on Shanghai's sci-tech innovations and a government-subsidized rental housing community.

China calls for comprehensive ceasefire in Palestinian-Israeli conflict in position paper November 30, 2023

On November 30, China released a position paper on resolving the Palestinian-Israeli conflict, which offered five proposals on promoting peace, and achieving a comprehensive, just, and lasting resolution to the Palestinian issue, including immediately implementing a comprehensive ceasefire, effectively protecting civilians, ensuring humanitarian assistance, enhancing diplomatic mediation, and seeking a political solution.

New graphite export controls come into force

December 1, 2023

China would implement optimized export controls on graphite products from December 1, and the measures do not target any specific country or region, the Ministry of Commerce said.

Insight of the week:

President Xi Jinping visited Shanghai on November 28 and November 29, his first trip there in three years, with his official itinerary highlighting his focus on finance, technological innovation and affordable housing. He was accompanied by top government officials, including Vice Premier He Lifeng, Cai Qi, his chief of staff, Shanghai's Communist Party Secretary Chen Jining and Mayor Gong Zheng. Xi stressed efforts to make new major breakthroughs in the integrated development of the Yangtze River Delta and enhance the region’s leading and exemplary role in pursuing Chinese modernization, while chairing a symposium on advancing the integrated development of the Yangtze River Delta on November 30.

The visit, his first since 2020, comes as business confidence wanes in China. The world’s second-largest economy is stagnating after decades of rapid expansion. Xi’s visit to Shanghai, the gateway city for foreign businesses and capital entering the mainland, has heightened expectations among economic watchers that Beijing would further liberalize its consumer and financial markets to boost its economy.

Recently, the Chinese government has ramped up efforts to promote growth and stabilize the financial markets. On November 27, Xi hosted a leadership meeting in Beijing, which set the guidelines on how to further promote the development of Yangtze River Economic Belt, an area that comprises Shanghai and ten other provinces and cities along the Yangtze River. The area accounts for 47% of China’s GDP and more than 40% of its population.

Besides, China’s State Council has recently agreed in principle on a new plan to expand and develop the Beijing service sector. The new plan outlines a host of tasks to improve the city’s investment environment and ease of doing business. Key measures targeting foreign investment include expanding market access to foreign companies in key service fields, facilitating cross-border personal information transfer and cross-border funding, and optimizing visa procedures for foreign talent. The analyst believes that those moves would expand China’s opening up and stimulate the better development of the country’s economy.