The Sunday Mail
Manyika Kangai
Xi’s book published in more languages
The fourth volume of “Xi Jinping: The Governance of China” has been published in French, Russian, Arabic, Spanish, Portuguese, German, Japanese and traditional Chinese. The newly published volume contains a compilation of 109 spoken and written works of China’s President Xi Jinping, from February 3, 2020 to May 10, 2022, along with 45 photographs taken since January 2020. It is divided into 21 sections by topic. The simplified Chinese and English editions of the book were published in July 2022.
China cuts interest rates
China’s central bank lowered the interest rates on its Standing Lending Facility (SLF). The overnight rate was cut by 10 basis points to 2,75 percent. The seven-day and the one-month rates were each lowered by 10 basis points to 2,9 percent and 3,25 percent, respectively, according to the People’s Bank of China. The SLF interest rates came into effect on June 13. The SLF, introduced by the central bank early in 2013, serves as a channel to meet the liquidity needs of financial institutions. These institutions can take out SLF loans from the central bank using qualified bonds and other credit assets as collateral.
China’s meat output hits record
China’s total meat output hit a new record of over 90 million tonnes in 2022, accounting for about one-fourth of the global total, according to data released by the China Meat Association. In the first quarter of 2023, China produced 24,6 million tonnes of pork, beef, mutton and poultry meat, up 2,5 percent year-on-year. Since 2001, the proportion of pork in China’s total meat production has decreased from 66 percent to about 60 percent, while the ratio of beef, mutton and poultry meat logged an upward trend. China has maintained its leading role in global meat production for over 30 years, according to Chen Wei, executive vice president and secretary-general of the China Meat Association.
China’s power battery installed capacity surges
The installed capacity of power batteries in China saw rapid expansion in May. During the period, the installed capacity of power batteries totalled 28,2 Gigawatt-Hours (GWh), increasing by 52,1 percent year-on-year, according to data from the China Association of Automobile Manufacturers. About 19,2 GWh of lithium-ion phosphate batteries were installed in New Energy Vehicles (NEV), surging 87,2 percent from a year earlier, and making up 67,8 percent of the monthly total. In the first five months of 2023, the installed capacity of power batteries rose 43,5 percent year-on-year to 119,2 GWh.
China releases new guidelines to improve education system
China is aiming to establish a quality and balanced basic public education system by 2027, according to a new set of guidelines jointly released by the general offices of the Communist Party of China Central Committee and the State Council. By 2035, China aims to become one of the world’s leading countries in terms of the quality and equity of compulsory education services, according to the document. Priority will be given to rural schools where authorities will work to ensure that all rural children of school age receive compulsory education, while more information technology will be introduced to improve the quality of education of rural schools. More resources will also go to schools in regions with large ethnic minority populations to improve the quality of education there, and the government will continue to increase the budget for education, particularly compulsory education.
*Manyika Kangai has over 15 years of experience facilitating and advising on China-Africa trade and investment deals. Feedback +27743487997/www.muvambi-sa.co.za
