SwedCham China Insights for the Week of September 18 - September 22 , 2023

Top news of the week:

Chinese premier attends 20th China-ASEAN Expo, China-ASEAN Business and Investment Summit

September 18, 2023

Chinese Premier Li Qiang addressed the opening ceremony of the 20th China-ASEAN Expo and China-ASEAN Business and Investment Summit in Nanning on September 17. Foreign leaders and senior officials including Cambodian Prime Minister Hun Manet, Laotian Prime Minister Sonexay Siphandone, Malaysian Prime Minister Anwar Ibrahim, Vietnamese Prime Minister Pham Minh Chinh, Indonesia's Vice President Ma'ruf Amin, Thailand's Deputy Prime Minister and Commerce Minister Phumtham Wechayachai, and ASEAN Secretary-General Kao Kim Hourn attended the meeting.

China has fully resumed international cruise transportation

September 19, 2023

China’s Ministry of Transport announced a full resumption of international cruise voyages in the country, after the successful pilot program that reintroduced international cruise operations in Shanghai and Shenzhen, Guangdong Province.

2023 Global Public Security Forum: Strengthening Global Cooperation in Lianyungang

September 20, 2023

The 2023 Conference of the Global Public Security Forum was held from September 19 to 21 in Lianyungang, with over 500 law enforcement officers, experts, and scholars from some 50 countries and regions making their presence felt. Themed “One World, Common Security”, it aims to enhance global security and contribute to the development of the global economy.

Putin meets Chinese Foreign Minister Wang Yi

September 21, 2023

Chinese foreign minister Wang Yi and Russian President Vladimir Putin held a diplomatic exchange where China conveyed the commitment to sustaining business cooperation with Russia. During the meeting, President Putin also accepted an invitation from his Chinese counterpart Xi Jinping to visit China in October, coinciding with the Belt and Road Summit.

Chinese premier stresses gathering strength in technological innovation

September 22, 2023

On September 21, Li Qiang made a visit to examine on the development of specialized, refined, differential, and innovative enterprises in Beijing. He urged those enterprises to advance technological innovation and specialize in niche sectors, to play a bigger role in building the country’s self-reliance and strength in science and technology and stabilizing the industrial and supply chains.

Insight of the week:

On September 17, Chinese Premier Li Qiang spoke at the opening ceremony of the 20th China-ASEAN Expo and China-ASEAN Business and Investment Summit in Nanning. The expo, which covers an exhibition area of 102,000 square meters, has attracted 1,953 enterprises from 46 countries, among which 350 were from Fortune 500 companies. Some analysts consider that due to China's current strained relations with the West, China will invest more efforts on expanding collaborations with Southeast Asia and the Middle East.

Southeast Asia will remain a priority for China's investment and its Belt and Road Initiative (BRI), given China's desire to counter the U.S.'s influence in this geopolitically important region. The area is also a critical source of minerals, including nickel, which is vital for China's green technology and electric vehicle goals. Investment and construction contracts under the BRI to ASEAN countries averaged around US$27.9 billion from 2015 to 2019, before falling to US$10.8 billion in 2021. Last year, they rebounded 72% to US$18.6 billion.

At the opening of the China-ASEAN Business and Investment Summit, Chinese Premier Li Qiang reassured regional leaders of China's focus on practical cooperation with Southeast Asia, despite ongoing territorial disputes and a renewed U.S. charm offensive. Li emphasized the importance of honesty and faithfulness during unstable global geopolitical conditions, adding that trustworthiness and fair market policies and environments were crucial for trade and economic cooperation. Li also highlighted China's wholehearted and sincere treatment of its counterparts, particularly towards ASEAN countries. “China has always treated counterparts with sincerity, and has been especially wholehearted towards ASEAN countries,” he stated.