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Rapid economic growth in China has been accompanied by environmental damage in many regions. Shenzhen has introduced the GEP, an alternative system to GDP that measures the growth and well-being of its citizens based on ecological factors. Figures from the new eco-indicator will be presented for the first time in June. The GEP is intended to provide incentives for more sustainable investment.
By Frank Sieren
In 1957, Mao ordered 60 million Chinese to "cook steel" and built 240,000 small blast furnaces. That was the beginning of a steel addiction that has driven China's steel production up year after year ever since. With state-subsidized steel, Beijing floods the world market. Now, Xi Jinping says this has to stop because the steel glut is counteracting his goals for reducing CO2 emissions.
By Antje Sirleschtov
The technology companies Xiaomi and Foxconn are shaking up the Chinese market for electric mobility. Xiaomi wants to invest billions in the development of EV production – but then probably outsource the production itself. Foxconn has developed an open software and hardware platform and is forging more and more partnerships for it. Siemens, Bosch, and Leoni are ready.
By Christiane Kuehl
How reasonable are China's COVID-related entry restrictions? The industry association VDMA fears that the quarantine and the need for special permits will remain in place for a long time. The association suspects Beijing wants to give Chinese competitors an advantage. But there are initial indications that entry conditions will be eased. And it is usually possible to negotiate certain quarantine details in China even now.
By Redaktion Table
China.Table regularly takes a look at the EU member states and their relationship with China – Hungary stands out: Budapest repeatedly shows itself to be openly positive towards Beijing. According to analysts, however, this does little for the country economically. The ties are based more on political reasons and offer opportunities for provocation in the direction of Brussels. The campus project of Fudan University in Budapest is now generating new resentment.
By Amelie Richter
The new Chinese data protection law, the Data Security Law (DSL), which is to regulate the use of personal data, is largely based on the EU General Data Protection Regulation (GDPR). Unlike the EU, Beijing reserves extensive data processing powers. For foreign companies with data in China, the legal basis will change this year.
By Frank Sieren