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China Insights

SwedCham China Insights for the week of March 15-19, 2021

Top news of the week:

  • President Xi Jinping stresses efforts for carbon peak and neutrality
    March 15, 2021

    President Xi Jinping has underlined the importance of peaking carbon emissions and attaining carbon neutrality at the ninth meeting of the Central Committee for Financial and Economic Affairs, one of nine special committees of the NPC the national legislature. This is the first time that the national leader has prioritised the strategy at the meeting of the top economic planning committee.

  • Vice Premier stresses more efforts in developing the Beijing-Tianjin-Hebei region
    March 16, 2021

    First Vice Premier Han Zheng hosted a meeting of a leading group for the coordinated development of the Beijing-Tianjin-Hebei region, stressing more efforts to develop the integrated transport network in the Beijing-Tianjin-Hebei region, specifically building the rail network, improving the highway system and the management of the airport and port clusters in the region.

  • Chinese government issues new rules to regulate online trading
    March 17, 2021

    The State Administration for Market Regulation, China’s market regulator, has officially released new regulations for online trading activities, specifying rules on livestream shopping, protecting consumer’s personal information, banning unfair competition, etc.

  • China launches second financial court in Beijing
    March 18, 2021

    The Beijing Financial Court, China’s second financial court, has been officially launched, followed by the decision adopted by the NPC Standing Committee in January. The intermediate-level court will primarily cover finance-related civil and administrative disputes in the capital involving securities, insurance, bank cards and financial loan contracts.

  • Senior Chinese diplomatic officials expound China's stands at China-US high-level strategic dialogue
    March 19, 2021

    The China-US high-level strategic dialogue has been kicked off in Alaska in the US. Yang Jiechi, Director of the Office of the Foreign Affairs Commission of the CPC Central Committee, and Foreign Minister Wang Yi have led the Chinese delegation to meet with their counterparts Antony Blinken and Jake Sullivan. A meeting briefing released by Xinhua News Agency said that the US side overrated the agreed time and provocatively launched groundless attacks against China’s domestic and foreign policies. The China’s side has expounded its stands in response.

     

Starting from March 24, H&M has been retaliated against by Chinese netizens over its statement made last year about the removal of Xinjiang cotton from its supply chain following the decision by the Better Cotton Initiative (BCI) to suspend licensing and assurance activities for Xinjiang cotton. Major domestic online retailers have pulled H&M products from their platforms. The impact has also been spreading over other big foreign brands including Nike, Adidas, Zara, Gap, Uniqlo, Fila (international) and Burberry. Celebrity ambassadors for these brands in China have announced retreat rapidly. It is worth noticing that those calls for boycott come only days after the EU Parliament decided to cancel a review meeting for the Comprehensive Agreement on Investment (CAI) as a response to China’s countersanction on the EU. Earlier in March 22, the EU, the UK, the US, and Canada jointly imposed sanctions over four Chinese individuals and entities for alleged human rights abuses in Xinjiang.

SwedCham China Insights is an initiative by SwedCham China in cooperation with KREAB being the full provider of the editorial content published every week.

About Kreab

Founded in Stockholm, Sweden, in 1970, Kreab is a global strategic communications consultancy with offices in 25 countries, serving over 500 global clients. Kreab advises on communication issues of strategic importance in business, finance, and politics, helping clients solve complex communications challenges and achieve their strategic goals. The Kreab Beijing team is well known for its track record of helping clients manage and strengthen their reputation through services spanning corporate communications, financial communications, public affairs, and social media. Contact Kreab at kchina@kreab.com, follow Kreab on WeChat (ID: KreabChina), or visit Kreab’s website at https://www.kreab.com/beijing.