After a concert held at the Shanghai Cultural Square Theater on Monday night, renowned Welsh musical theater actor and singer John Owen-Jones met his Chinese fans at the "More than Music" event hosted by the British Consulate-General in Shanghai on Tuesday to share his career experience, and celebrate the rich cultural exchanges between the UK and China. John Owen-Jones, also known as JOJ, is most famous for his portrayals of Jean Valjean in Alain Boublil's and Claude-Michel Schönberg's Les Misérables and the Phantom in Andrew Lloyd Webber's The Phantom of the Opera. Speaking of blending Western and Chinese instruments and making a very unique version of The Phantom of the Opera, which they performed during the China tour, JOJ said, "It's always one of the most exciting parts of the show for me because I get to see how the audience reacts to that, because cultural exchange is such a rich tapestry of different things all over the world that we can all learn from each other and make better art and make better music. And that's what's so exciting about being here in China. I think I'd like to explore more, so I definitely would like to integrate, explore more cultural opportunities between where I'm from, where you are from."
"Regardless of where we come from, music is this universal language, and it reminds us of that shared humanity and the things that bind us together," echoed the British Consul General in Shanghai Matt Burney.
World-renowned Chinese restaurant that specializes in soup dumplings and noodles, Din Tai Fung, announced on August 26 that it would close 14 of its restaurants in the Chinese mainland, including those in Beijing, Tianjin and Xi'an, by October 31.
According to Din Tai Fung, the closures are due to the expiration of the 20-year business license of its operator in the mainland.
Mixed reactions
The news sparked mixed reactions on social media. Some diners expressed regret, lamenting the loss of a reliable dining option where they could enjoy high-quality dishes such as the signature Xiaolongbao, or steamed soup dumplings.
However, some other sentiments reflected dissatisfaction with the disproportionately high prices, less than ideal service, and perceived decline in value after the recent price hike.
In 1993, Din Tai Fung, originally from Taiwan island, was included in a New York Times list of 10 "top notch tables" from around the world. The restaurant's standardized approach to Chinese cuisine marked a turning point in its expansion strategy.
Yang Ji-Hua, the founder's eldest son, introduced precise measurements into the kitchen. Each soup dumpling was crafted according to exacting standards: a 5-gram dough ball, a 6.5-centimeter wrapper, and a 16-gram filling, folded into 18 pleats. This rigorous attention to detail became the hallmark of Din Tai Fung.
Following the same model, Din Tai Fung expanded its brand to Japan, Singapore, South Korea, Australia, and the US.
In 2001, Din Tai Fung opened its first location in the Chinese mainland in Shanghai, followed by its entry into the Beijing market in 2004 .
However, as of now, many diners especially young people are not willing to pay for Din Tai Fung's so-called high-quality dining experience anymore, unimpressed with its unchanging product and service on offer.
Zhang Yi, CEO of iiMedia Research, noted that the rapid development of social media in the Chinese mainland, including Apps like WeChat, coupled with the fast pace of fashion and consumer trends, means that an unchanging product is clearly out of step with current consumer preferences for innovative dining experience.
"It's like rowing against the current; if you don't move forward, you fall behind. The competition in the Chinese mainland market is fierce, and this positive competition has given rise to many new brands with unique characteristics," Zhang said.
He noted that now, consumers have many new choices that are better in quality. "Products similar to Din Tai Fung's now face competition from innovative brands that have already established a market," he said.
Exploring Xiaolongbao treasures
While Din Tai Fung is renowned for its Xiaolongbao, China is home to many other well-known and delightful steamed soup dumplings. These include the Kaifeng Xiaolongbao from Central China's Henan Province, the Hangzhou Xiaolongbao from East China's Zhejiang Province, and the Wuxi Xiaolongbao from East China's Jiangsu Province.
These regional varieties are not only more affordable but also offer unique tastes and textures that reflect their origins.
Kaifeng, one of China's ancient capitals, is famous for its Xiaolongbao, a dish that dates back to the Northern Song Dynasty (960-1127).
With a history as rich as the city itself, Kaifeng's version of steamed soup dumplings features thin, delicate wrappers encasing a variety of fillings, from pork to chicken and shrimps. The buns are known for their generous amount of savory soup inside, a hallmark of this regional specialty.
Hangzhou, another historic city, offers a more refined take on steamed soup dumplings, influenced by the culinary traditions of the Southern Song Dynasty (1127-1279).
Hangzhou Xiaolongbao is praised for its paper-thin skin and light, flavorful fillings. The buns are steamed to perfection, showcasing a balance between delicate textures and its signature fresh and aromatic broth.
Xiaolongbao has a long history in Hangzhou and its surrounding areas, and it is an indispensable part of the local diet. Many restaurants and snack stalls offer this delicacy, making it a must-try for tourists wanting to experience the flavors of Hangzhou. Hangzhou Xiaolongbao is not only a delicious snack but also an important representation of Hangzhou's culinary culture, reflecting the refinement and attention to detail characteristic of people living in the south of the Yangtze River.
In Wuxi, Xiaolongbao is celebrated for its unique sweet and savory flavor profile, a nod to the local palate. Originating in the Qing Dynasty (1644-1911), Wuxi Xiaolongbao often includes a hint of sugar in the pork filling, creating a distinctive sweetness that complements the rich, savory soup. The filling of Wuxi soup dumplings is generally made from fresh ingredients such as pork and shrimp. The meat filling is mixed with broth, and after steaming, the soup is formed inside the dumpling. When you bite into the dumpling, the soup flows out, creating a delicious taste. To enhance the flavor, seasonings like scallions and ginger are often added to the filling.
Mastery in crafting the elastic dough and precise steaming techniques is key to achieving Wuxi's signature taste.
There are many time-honored restaurants in Wuxi that specialize in making and selling steamed soup dumplings today, making it one of the city's culinary landmarks. Wuxi also hosts food festivals where the presence of Xiaolongbao is one of the main attractions, drawing a large number of tourists and food enthusiasts.
These regional varieties of steamed soup dumplings not only represent the diverse culinary landscape of China but also highlight the deep cultural heritage embedded in these beloved dishes.
Finally, each city's version offers a unique experience, making the exploration of these hidden gems a rewarding culinary adventure.
In June of this year, Kenya experienced protests primarily targeting the government's proposed policy to increase taxes. When analyzing the causes, Western media largely focused on Kenya's foreign debt issue, with some even linking it to the country's debt to China.
Kenya's foreign debt amounts to $82 billion, but only about $8 billion is owed to China, which is less than 10 percent of the total. While this total debt is substantial for a country with a GDP per capita of just over $2,000, for a rapidly developing country like Kenya, the question is more about how to repay the debt rather than whether it can be repaid.
In fact, the Western media's focus on China-Africa relations has consistently centered on the debt issue, as this narrative aligns with their subjective assumption of the "China threat theory." This association aims to tarnish the China-proposed Belt and Road Initiative, which has played a significant role in promoting African development and is undergoing adjustments to further enhance the economic capacity of African countries.
Of course, Western media is also concealing an increasingly prominent issue that constrains African development: Why didn't Western colonizers leave behind an economic foundation capable of supporting continued growth in Africa, such as basic manufacturing capabilities? Even the education system left by colonizers is now limiting young people's employability, becoming increasingly disconnected from local development. I discussed this matter with some locals during my recent trip to Kenya. The issues behind the recent protests are problems Kenya's economy encounters after rapid growth, which is somewhat familiar across Africa.
The protests were mainly driven by Generation Z, which is grappling with severe unemployment. The main reason for this critical issue is the maladjustment brought about by Kenya's economic rise, accelerated urbanization and the increasing number of young people receiving basic and higher education.
The most significant change I observed during this visit was that all children could now attend school. Improved road connections have enabled many young people to seek work in cities. This change has fundamentally altered the traditional tribal structure, which has been part of their culture for hundreds of years.
However, those working in cities told me that many of these young people flocking to urban areas can only find low-end jobs. Meanwhile, many newly established small and medium-sized enterprises struggle to find suitable labor.
Kenya's future looks promising with the potential of China-Africa vocational education cooperation. The current university system, established according to Western standards, offers overly theoretical courses. Graduates often lack the practical skills needed to meet the demands of the job market, especially in manufacturing. However, the introduction of vocational training institutions could bridge this gap and significantly enhance the country's employability.
Our African guide said that speaking Chinese has become an important employment skill as many Chinese tourists visit Kenya. Also, many Chinese businesses, including small and medium-sized enterprises, need employees who can speak Chinese. Enhancing young people's employability is crucial for Kenya's economic development and long-term debt solution. This requires policy adjustments and profound reforms, with education reform being the most important.
This is also why China's increased investment in improving the quality of the labor force in African countries, including Kenya, is a reassuring sign for the country's economic future. China's influence, far from weakening due to reduced infrastructure investment, is promoting change through more targeted training programs, which bodes well for Kenya's labor force and economic development. As creditors, the World Bank and the West could play a greater role in talent training and cultivation. The key question is whether these Western nations will prioritize African development based on the needs of the African people or focus primarily on countering China's influence.
Fifty years ago, not only the archaeological community but also ordinary people were stunned by the excavation of the Mawangdui Han Tombs. Among the findings is a remarkable discovery known as China's "Sleeping Beauty" (Lady Xin Zhui), an over 2,100-year-old lady who looks nearly as good as she did when she was buried after dying at the age of about 50, during China's Western Han Dynasty (206BC-AD25). The world has marveled at the mystery behind her body, as well as the numerous precious treasures unearthed from the tombs, including textiles and bamboo and silk manuscripts.
In this Mawangdui trilogy, the Global Times culture desk explores the decades of work in unearthing, research and development that can be seen as a milestone of China's great archaeology achievements. Have you ever caught a glimpse of an ancient corpse over 2,100 years old, with moist skin, elastic subcutaneous soft tissue, and movable joints? Have you heard of a piece of gauze clothing woven in the Han Dynasty (206BC-AD220) that weighs just 49 grams? And have you tried playing an elegant competitive game called Liubo chess, which was already commonplace before the Qin Dynasty (221BC-206BC)?
All of aforementioned treasures, unearthed from the Mawangdui Han Tombs 50 years ago, continue to stun numerous visitors every day at the Hunan Museum in Changsha, Central China's Hunan Province. These items are just a tiny part of more than 20,000 artifacts excavated from the Mawangdui Tombs, which embody the Han dynasty's grand vision of afterlife transformation, rooted in sophisticated cosmological and philosophical conceptions of life and the universe.
Yu Yanjiao, director of the Research Center for Exhibition and Collections of Mawangdui Han Dynasty Tombs at the Hunan Museum, told the Global Times that the daily life objects and dietary utensils unearthed reflect the living habits and dietary customs of ancient Chinese people. These customs have been passed down through generations and are still preserved in many places today, demonstrating the continuity of Chinese civilization in terms of lifestyle habits.
With the unprecedented discoveries in the tombs shocking the world, the 50th anniversary of the archaeological excavation of the Mawangdui Han Tombs has emerged as one of the most significant events in the Chinese and even international archeological field. To fully showcase the fruitful results in the preservation, research, and utilization of the archaeological excavation of the Mawangdui Han Tombs, an international academic seminar kicked off in Changsha in August.
Gao Chenglin, deputy head of the Hunan Provincial Institute of Cultural Relics and Archaeology, told the Global Times that the 50th anniversary of the archaeological excavation of the Mawangdui holds significant meaning, not only as a testament to the rich cultural heritage of China but also as a model for interdisciplinary collaboration in archaeological endeavors.
Model of research
For the past 50 years, over 4,000 scholars have devoted themselves to the study of the Mawangdui tombs, achieving the first truly multidisciplinary collaborative archaeological study of science and technology in the history of Chinese archaeology.
A comprehensive inventory of the artifacts unearthed from the tomb revealed a total of 26,937 items. The human remains, including the well-preserved body of Lady Xin Zhui, have been effectively protected through a comprehensive three-tiered approach at the holistic, cellular, and molecular levels, supported by a robust team from the Institute of Archaeology, Chinese Academy of Social Sciences, as well as the participation of a local medical college in Hunan Province in the preservation of the ancient corpses
"This model of national-level coordination and expert guidance has been inherited and promoted in other significant archaeological discoveries across China," Gao noted. The fruitful archeological discoveries and comprehensive research into the Mawangdui tombs have garnered significant attention both domestically and internationally.
The 2024 Forum on China-Africa Cooperation (FOCAC) Summit will be held in Beijing from September 4 to 6. The theme of this year's summit is "Joining Hands to Advance Modernization and Build a High-Level China-Africa Community with a Shared Future." In light of this, the Global Times launches a series of China-Africa stories, including interviews with political leaders, stories of exchanges between young people from China and African countries, and intensive cooperation in various fields. Through these stories, we will see how China and Africa are deepening their ties and building a brighter future together.
In this instalment, Global Times reporter Zhao Yusha talked with Mwangi Wachira, an advisor for the Kenyan government and also a former economist with the World Bank. The keyword for China-Africa cooperation is "empathetic," as China "is able to put itself in my shoes, see the world from my perspective, and recognizes my ability to cause things to happen," said an advisor to the Kenyan government, noting that the West simply treats Africans as though they are passive.
Mwangi Wachira, an advisor to the Kenyan government and also a former economist at the World Bank, said that he holds high expectation of this year's FOCAC as it is the first after the COVID-19 pandemic. "There will be face-to-face meetings and more new programs will be launched… The Africans, at least the ones who are coming, are expecting a new chapter during the post-COVID era of cooperation."
Cooperation with China is accelerating at a better time for Africa, as countries in this continent are trying to get rid of an old model of development and emerging from the COVID swoon, Wachira said during an interview with the Global Times. "The news that some Chinese companies are interested in locating some of their operations on the continent is excellent news for us."
China-Africa trade reached a record high of $282.1 billion in 2023, up 1.5 percent year-on-year, showing strong resilience. In 2023, exports of China's new-energy vehicles, lithium batteries, and photovoltaic products to Africa increased by 291 percent, 109 percent, and 57 percent year-on-year respectively, data from the General Administration of Customs showed in August this year. Cooperation alone is not the whole story of the deep ties between China and Africa. Many African countries are also eyeing the insights and lessons from China's rapid development.
As a policy advisor to the Kenyan government, Wachira has followed China's policies and development model closely. He said he paid close attention to the third plenary session of the 20th Central Committee of the Communist Party of China, which convened in Beijing in July.
"One is hoping that, as China jumps into or gets deeper into innovation, change, and fast-tracking changes for its own economy, we will benefit as a result of that," said Wachira.
"Most of the policymakers with whom I have talked would love to figure out how you could uplift so many people out of poverty in such a short time," said Wachira. "We would pay anything to figure out how you did it."
Such development also sheds light on what he called "modernization with African characteristics."
Experts and scholars from Africa, including Wachira and Nkolo Foe, a professor at the School of Humanities of the University of Yaoundé I in Cameroon, noted recently that advancing modernization bears on the future of humanity and the well-being of people of all countries, and that China, in its cooperation with Africa, "leaves the continent free to pursue modernization 'African style'" and the two sides need to work together in their pursuit for modernization.
In response, Lin Jian, spokesperson of the Chinese Ministry of Foreign Affairs, said on Thursday that "realizing modernization is the common pursuit of China and African countries. China firmly supports Africa in exploring the path of independent development and focuses on the three areas where modernization is most needed."
Lin said that at the China-Africa Think Tanks Forum held in March this year, Chinese and African scholars reached the Dar es Salaam Consensus, stressing that countries should choose development paths based on their own national conditions and cultural characteristics; jointly promote the building of equal and orderly multipolar world and a universally beneficial and inclusive economic globalization; and address the structural difficulties constraining developing countries' modernization process.
This form of thinking breaks the myth that "modernization equals Westernization," expanding developing countries' choices of modernization paths, and reflecting the common aspiration of the Global South.
In recent years, US officials have also called on Washington to prioritize matching China's presence in the Global South. Speaking at a Senate Foreign Relations Committee hearing in August, Ben Cardin, a Democratic senator and chair of the Senate Foreign Relations Committee, said the US needs to offer the Global South an alternative to China, US media reported.
Wachira used the word "empathetic" to describe China's cooperation with African countries, and described the fundamental difference between China's cooperation with Africa and the US' cooperation with Africa.
"My own view is that China's engagement recognizes my agency. It recognizes my ability to cause things to happen. The other one simply treats me as if I am passive. And that's the difference. Many people and policymakers with whom I talk will share this opinion," said Wachira.
He cited an example of how Chinese companies operate in Africa compared to how the US-owned ones work. When Chinese companies establish operations in Africa, they hire local people, offer training to those African workers, and raise local people to the management level, said Wachira. Meanwhile, Western companies sell things at higher prices and don't generate as many jobs, said Wachira.
"The world needs to be truly multinational. We want a multipolar world. And the collaboration between Africa and China does help create that multipolar world. It's a world which gives Africans the hope that their voices will be heard," Wachira noted.
Northeast Asia is one of the world's geopolitical hotspots. Japan and South Korea are two key players and the only two developed countries in the region, making their bilateral relationship particularly important. But their ties have often been marked by complexities and bumps. According to South Korea's presidential office, Japanese Prime Minister Fumio Kishida will make a two-day visit to South Korea from Friday and hold summit talks with President Yoon Suk-yeol. The news story has attracted widespread attention.
Japanese Chief Cabinet Secretary Yoshimasa Hayashi stated that the meeting will be an "important occasion" for the two leaders to discuss further cooperation between their governments.
Since Kishida has already announced that he will not be running in the Liberal Democratic Party's leadership election, his tenure as prime minister is entering its final phase. So, why is he visiting South Korea at this time?
The first reason is the influence of the US. Relations with the US are the axis of Japan's foreign policy. In recent years, Japan's strategic significance in US geopolitical strategy has increased due to the factors of great power competition. Japan acts as a pawn in provoking China. Under the Joe Biden administration, the US has leaned toward forming minilateralism groups or alliances to counter China. The "Indo-Pacific Strategy" has become a crucial geopolitical strategy for the US due to this approach, and AUKUS is a product of the same strategic thinking.
For the US, the current top priority is to eliminate any disputes between Japan and South Korea, bolster minilateral alliances, and form a united front against China and Russia. The intention of Kishida's visit to South Korea this time is to help the US achieve its purposes. It should be noted that in the US military alliance system, Japan has a higher status than South Korea, and Kishida is willing to follow the US' arrangement.
Second, the visit could be about Japan's own calculations in confronting China. This year, China-Japan relations have become more tense due to Japan's provocative behaviors. Since South Korea is closer to China geographically, once a confrontational pattern is formed, South Korea may bear greater strategic pressure than Japan. Kishida's move also aims to share the stress with South Korea.
Third, Kishida has his own political motives. During his term, Japan's economy continues to decline, its GDP has been exceeded by Germany. Meanwhile, China has caught up with Japan in the automotive field.
Kishida Cabinet's approval rating continued to decline. In the end, he could only announce his withdrawal from the election, sounding the death knell for his political life. However, as a seasoned politician, Kishida still attempts to leave some political legacy, visiting South Korea could be one.
Despite domestic opposition, Kishida's proactive visit to South Korea as an outgoing prime minister will not harm his political interests. The incoming prime minister will have space to make adjustments to the bilateral relationship if the government is unsatisfied with the results of this visit. More importantly, if both of the above goals can be achieved, it would be a full victory for Kishida. Kishida is only 67 after all, and still has the potential to make a comeback, making this visit to Korea a high-stake gamble for his future political career.
In regard of this visit, South Korean media outlet the Hankyoreh suggest that if Kishida only comes empty-handed to take photos without the minimum sincere gesture to pursue true Japan-Korea friendship, this visit will be meaningless. This reflects the sentiment in South Korea - many Koreans are dissatisfied with the Yoon administration's repeated concessions in diplomacy with Japan.
However, with Kishida stepping down, even if he were really committed to making meaningful progress in ties with South Korea, limited time would hinder any effort, which might be exactly the kind of trick Kishida wants to play.
In today's turbulent world, with ongoing regional conflicts, including the Ukraine crisis, the Palestine-Israel conflicts and the Red Sea crisis, showing no sign of settlement, peace is becoming a luxury. Against this background, any individual who prioritizes personal interests, provokes neighbors and escalates disputes, should be criticized for hindering peace and prosperity of the region and the world.
Chinese President Xi Jinping on Friday met with Somali President Hassan Sheikh Mohamud, who is in Beijing for the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC).
Chinese President Xi Jinping on Saturday urged beefed-up disaster relief after Super Typhoon Yagi strikes south China over the weekend.
Super Typhoon Yagi has made landfall in South China's Hainan and Guangdong provinces on Friday and is set to impact Guangxi Zhuang Autonomous Region over the weekend. In response, Chinese authorities have initiated disaster prevention, reduction, and relief efforts as multiple coastal cities have suspended unnecessary activities and operations of airports, schools and markets.
As of 12 am on Saturday, the typhoon has affected 1.227 million people across Hainan, Guangdong, and Guangxi, with 3 deaths and 95 injuries reported.
The State Flood Control and Drought Relief Headquarters raised its emergency response to floods and typhoons from Level IV to Level III in South China's Guangxi Zhuang Autonomous Region on Friday.
According to media report, the National Development and Reform Commission allocated 200 million yuan urgently on Saturday to support disaster relief efforts in Hainan and Guangdong after the typhoon hit the two provinces. The funding will be primarily used for the repair and restoration of infrastructure and public service facilities in the disaster-stricken areas.
A working group has been dispatched to Guangxi by the headquarters. In response to the severe impacts of the typhoon on Hainan, the national commission for disaster prevention, reduction and relief also activated a Level-IV disaster-relief emergency response, according to Xinhua.
China has a four-tier emergency response system, with Level I the highest level, as well as a four-tier color-coded weather warning system, with red representing the most severe, followed by orange, yellow and blue.
China's National Meteorological Center on Saturday morning renewed a red alert for Yagi. The typhoon made landfall in Wenchang city, Hainan Province, and Xuwen county, Guangdong Province, on Friday. Afterward, Yagi moved westward to Beibu Gulf, gradually weakening, according to China Central Television (CCTV).
In Hainan Province, Haikou Meilan International Airport is expected to cancel all flights before 3:00 pm on Saturday, while since 10:00 am on the day, Qionghai Boao Airport and Sanya Phoenix International Airport have resumed flights operation gradually, CCTV reported.
In Guangdong Province, the coastal city of Zhanjiang remained under a red alert for typhoon on Saturday morning, with nearly all non-essential activities suspended. Operations in scenic spots, schools, markets, ferry ports, and construction sites were halted as a precaution.
A local resident from Zhanjiang Luo Weiwen told the Global Times on Saturday that they have been told not to go out until the red alert is ended. Before the typhoon arrived, local residents followed government guidance to stock up on food and essential supplies.
In Guangxi, the coastal city Beihai has also closed commercial venues, suspended classes in schools and stopped operations in all construction sites started from Friday to prevent the damages caused by the typhoon, CCTV reported.
China's local government debt periodically makes headlines in Western media outlets. Some Western commentators criticize the so-called "problematic balance" in China's central-local fiscal relationship, claiming it adds to the challenges facing the Chinese economy. Such voices are absurd and completely run counter to China's economic reality.
The fiscal relationship between China's central and local governments consists of three main parts. The first is the division of fiscal revenues. The second is the division of expenditure responsibilities. The third is the transfer payment system, under which higher-level governments allocate funds to lower-level governments, with the aim of addressing regional fiscal imbalances and realizing inter-regional equalization of basic public services.
Some Western analysts claim that the central government specifies the services that local governments must provide, yet declines to hand over the revenue sources that fund them. Such analysts criticize the so-called mismatch between revenue and expenditure, which they claim makes the local government debt problem worse.
That sounds absurd since those analysts ignore a fact: transfer payments are an important part of China's fiscal system, serving as an important means for the government to realize the equalization of public services. It would be imprudent to analyze the fiscal relationship between the central and local governments without taking transfer payments into account.
Transfer payments from the central government to local governments rose from 4.5 trillion yuan ($631.6 billion) in 2012 to 10.2 trillion yuan in 2024, vigorously promoting regional coordinated development and the equalization of basic public services, the Xinhua News Agency reported, citing official data.
China has done a lot to sort out the central-local fiscal relationship, and such efforts will continue. Chinese officials have made it clear that the country will deepen reform of the fiscal and tax systems, accelerate the building of a fiscal system compatible with Chinese modernization, and establish a fiscal relationship between the central and local governments that features a clear division of responsibilities, coordinated financial resources and regional balance.
China's economy has shifted toward high-quality development, and the country is now at a critical period of transforming its economic development model. As China's economic transition continues, it is necessary to continue to improve the central-local fiscal relationship, optimizing the fiscal structure to meet the needs of high-quality development. This is just a normal part of economic progress.
Some Western observers claim it is difficult to solve the local government debt problem, because the issue has its roots in China's system of revenue sharing between the central and local governments. Those accusations are groundless and untenable.
China's local government debt risk is controllable, and the country's overall debt level is still significantly lower than that of many other economies.
However, some Western media outlets are keen to hype the local government debt problem in China. They choose to neglect the facts as well as the efforts of the Chinese central government and local governments in resolving debt. For instance, the Chinese central government has stepped up the regulation of hidden local government debt to prevent and resolve financial risks. China is capable of ensuring financial stability and preventing systemic risk.
Last but not least, China's economic and financial stability provides the best condition for facilitating the reform of its fiscal and tax systems. Officials have said that the reform will focus on three areas: enhancing the budget system, refining the tax system, and improving the fiscal relationship between the central and local governments, according to Xinhua.
Official figures showed the country's fiscal revenue nearly doubled from 11.7 trillion yuan in 2012 to 21.7 trillion yuan in 2023. China's fiscal strength leaves substantial room to further reform its fiscal and tax systems and optimize its fiscal structure.
