China president Xi Jinping: Chinese economic recovery leads the world

Comments by China president Xi Jinping

Xi Jinping
  • Will strive to make up economic losses caused by coronavirus pandemic
  • Will strive to achieve good results for economic growth this year
  • Will make fiscal policy more proactive, prudent monetary policy more flexible
  • Will continue to cut taxes and fees
There isn’t much of anything new here from Xi, but this just reaffirms that China will continue to maintain the current set of policies and keep bolstering the economy for many more months as they deal with the fallout from the virus outbreak earlier in the year.

ICYMI – global anti-China sentiment at its highest since 1989 Tiananmen Square crackdown

A piece via Reuters on an internal Chinese report by the Ministry of State Security to top Beijing leaders including President Xi Jinping

  • Reuters cite an unnamed source, and add: “Reuters has not seen the briefing paper, but it was described by people who had direct knowledge of its findings.”
  • Highlights:
  • report presented early last month
  • concluded that global anti-China sentiment is at its highest since the 1989 Tiananmen Square crackdown
  • As a result, Beijing faces a wave of anti-China sentiment led by the United States in the aftermath of the pandemic and needs to be prepared in a worst-case scenario for armed confrontation between the two global powers, according to people familiar with the report’s content, who declined to be identified given the sensitivity of the matter.
We’ve been seeing a tick u0p in rhetoric aimed at China. most noisily from the US but it wider spread than that (Australia, for example).
 Its been a factor in some of the risk unwind we have seen.
A piece via Reuters on an internal Chinese report by the Ministry of State Security to top Beijing leaders including President Xi Jinping

China president Xi says that Hubei province should resume production step by step

Comments by China president Xi Jinping via state media

China
  • Coronavirus control tasks in Hubei, Wuhan remain arduous
  • Will speed up application of effective medicines for coronavirus
  • Hubei’s economy is only hit in the short-term, long-term momentum not affected
Xi was in Wuhan for a visit today and when you see such a symbolic move – sort of like an army general taking his victory lap over a conquered land – then there is little chance that the current lockdown in Hubei will last for too long.
As such, Hubei will slowly go back to normality soon enough and we are already seeing early signs of that as seen here with the city of Qianjiang.

China president Xi says that need to mend the loopholes exposed in this coronavirus outbreak

Comments by China president Xi Jinping via state television

  • Says to push the rollout of biosecurity law as soon as possible
  • Ensuring safety, health of the people is a major task for the country
  • To improve medical insurance and aid system for major diseases
Not the sweetest of Valentine’s messages from Xi but I’m not sure what he actually means by “mending the loopholes” here.
China has taken a major reputation hit as a result of the virus outbreak and how poorly it was handled during the initial stages, with many questions and doubts – still persisting – about the actual figures and cases reported across the country.
Does mending the loopholes mean that they will be more transparent and act quicker next time? Or does it mean that they will double-down efforts to make sure something as malicious as this will not surface among international media if we see a repeat?