On Sunday morning, Xi Jinping kicked off the 20th National Congress of the CPC with areport from the outgoing 19th CPC Central Committee. Here’s a thread of some highlights and key quotes. #20thNationalCongress 1/10 📷 Xinhua
“A decade ago this was the situation we faced: Great achievements had been secured in reform, opening up, and socialist modernization…At the same time, however, a number of prominent issues and problems…demanded urgent action.” 2/10 📷Xinhua
“We have identified the principal contradiction facing Chinese society as that between unbalanced & inadequate development & the people’s ever-growing needs for a better life, & we have made it clear that closing this gap should be the focus of all our initiatives.” 3/10 📷Sina
“We must put the people first. People-centeredness is an essential attribute of Marxism. Our Party’s theories are from the people, for the people, & beneficial to the people. The people’s creative practices are the inexhaustible source of our theoretical innovations." 4/10 📷BJD
“From this day forward, the central task of the CPC will be to lead the Chinese people of all ethnic groups in a concerted effort to realize the Second Centenary Goal of building China into a great modern socialist country in all respects" 5/10 📷Xinhua
“We will take stronger action against monopolies and unfair competition, break local protectionism, and administrative monopolies, and conduct law-based regulation and guidance to promote the healthy development of capital.” 6/10 📷Xinhua
“Corruption is a cancer to the vitality and ability of the Party and fighting corruption is the most thorough kind of self-reform there is. As long as the breeding grounds and conditions for conditions still exist, we must keep sounding the bugle and never rest" 7/10 📷Xinhua
"Resolving the Taiwan question is a matter for the Chinese, a matter that must be resolved by the Chinese…The wheels of history are rolling on toward China’s reunification & the rejuvenation of the Chinese nation. Complete reunification of our country must be realized" /8
“China is…committed to narrowing the North-South gap and supporting and assisting other developing countries in accelerating development…China upholds true multilateralism, promotes greater democracy in international relations" 9/10 📷GOV-ZA
"This country is its people; the people are the country. As the CPC has led the people in fighting to establish & develop the People's Republic, it has really been fighting for their support."
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🇨🇳 | China invests US$5.4 billion in 2-year-old memory chip maker as self-sufficiency drive accelerates. 🧵1/13
Beijing has been intent on making breakthroughs in its semiconductor industry as the US tries to limit China’s access to cutting-edge chip technologies. 2/13
Semiconductor start-up Changxin Xinqiao Memory Technologies has raised 39 billion yuan (US$5.4 billion) from government-backed investors, a sign Beijing is doubling down on its efforts to achieve technological self-sufficiency and counter US sanctions.3/13
📣 📕 Did you know that China lifted over 800 million people out of extreme poverty? What does this have to do with socialism?
Issue no. 2 of the international edition of Wenhua Zongheng, the Chinese political & cultural magazine, is out now via @tri_continental & DS 🧵 1/14
This issue assesses the current state and future direction of China’s socialist project, in its complex historical development, and places the country's current battle against poverty in the context of its decades-long pursuit of socialist modernization. 2/14
In China, the history of industrialization has been and remains inseparable from the building of socialism. The 1978 reform and opening up re-introduced private capital and market forces into the country, integrating China into the international economic system. 3/14
China's central government seeks to control the "hidden" debt of local governments. It is estimated to be between 50 and 70 trillion yuan (US$ 7.1 - 9.9 trillion), almost twice the GDP of Japan. But what is this invisible debt all about? 🧵1/9
To start talking about hidden debt, we need to understand what "local financing vehicles" (LGFVs) are. These are state-owned enterprises that issue debt bonds to finance projects, such as infrastructure projects, which are key drivers of economic growth. 2/9
The main holders of LGFV bonds include insurance companies and banks. Debt is also hidden in public-private partnership projects, loan contracts and other channels used by local governments to raise money. 3/9
The rise of thangka art is transforming the small Tibetan town of Wutun into a giant Buddhist art factory. Artworks known as thangka often depict Tibetan Buddhist deities and, until recently, had an exclusively religious meaning. 🧵1/4
They were produced for local monasteries, who used them as teaching and meditation tools. Thangka production has played a key role in revitalizing the local economy. 2/4
The government has created a dozen painting academies that provide free training for students from impoverished families. Now at least 40,000 people are employed in the thangka industry, generating 780 million yuan a year. 3/4
China wants to have its own "Silicon Valley": it will build an international science and technology innovation complex in Beijing, and plans to complete it by 2025.
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The government unveiled a "battle plan" to build the International Science and Technology Innovation Center to advance key fields such as low-carbon energy, space, life sciences, Earth research, and artificial intelligence. 2/8
By 2025, Beijing's high-tech industry is projected to have 260 R&D employees for every 10,000 workers. contributing more than 1.2 trillion yuan (US$170 billion) to the local economy, a 13% increase over 2022. 3/8