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[Beijing Hour: China's Economic Census, Regional Tensions, and Global Developments]-[South Korea's parliament votes in favor of impeaching acting president]

The Beijing Hour · B2 · 2024-12-27

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📋 Summary

China's Fifth National Economic Census Reveals Resilience and Structural Shifts

The National Bureau of Statistics of China has released the results of its fifth National Economic Census, highlighting the country's economic foundation and adaptability. The revised 2023 GDP now stands at 129.4 trillion yuan, an increase of 2.7% over preliminary figures. A key finding is the significant growth of the tertiary industry, which now accounts for 56.3% of the GDP. Commissioner Kang emphasized that the census reflects "great resilience empowered by innovative growth," particularly within the manufacturing sector, where the number of legal entities reached 4.048 million—a 23.8% increase since 2018. Despite these gains, officials acknowledged "prominent structural employment conflicts," noting that future policies will prioritize "high-quality and full employment" to support targeted groups.

Geopolitical Tensions and Diplomatic Relations

Israel-Yemen Conflict

Middle Eastern tensions have escalated as Yemen’s Houthi group vowed "retaliatory attacks on Israeli cities" following Israeli airstrikes on Sana'a and Hodeidah. These strikes targeted "intelligence-based" Houthi military assets, including airports and power stations. The humanitarian impact in the region remains dire, with the Gaza Health Ministry reporting over 45,000 deaths since October 2023. UN officials have expressed deep concern, with Secretary-General Antonio Guterres calling for the protection of civilians and the preservation of infrastructure amid what he describes as a "catastrophic" humanitarian crisis.

China-France Relations

As the 60th anniversary of diplomatic ties between China and France concludes, analysts noted a complex year. While President Xi Jinping and Emmanuel Macron celebrated the "China-France Year of Culture and Tourism," economic friction persisted, notably regarding EU tariffs on Chinese EVs and China’s subsequent restrictions on French brandy imports. Despite these "points of contention," both nations expressed a desire to elevate political and cultural cooperation in 2025.

Korean Peninsula Developments

The South Korean National Assembly has voted to impeach acting president Hae-duk-su following the controversial declaration of martial law. The Constitutional Court has begun preparatory hearings to address the impeachment case, while criminal investigations into the former defense minister continue, revealing links between the President and the martial law decision.

Economic Highlights and Infrastructure Growth

China’s commitment to modernization is further evidenced by its expanding infrastructure and new financial tools. The country launched its "first polysilicon futures" on the Guangzhou Futures Exchange, a material critical for the photovoltaic industry. Additionally, China’s high-speed railway network has reached 47,000 kilometers, with new lines—such as the Shanghai-Hujiao route—drastically reducing travel time and boosting regional tourism.

In the manufacturing sector, profit declines for industrial enterprises continue to narrow, with high-end, intelligent, and green manufacturing sectors showing robust growth. For instance, aerospace profits rose by 14%, and wearable tech profits surged by over 90%, illustrating the success of China's "innovative drive" in the economy.

Cultural Preservation

Cultural efforts remain a priority, exemplified by the Suzhou City Museum’s exhibition of 400 artifacts from the Grand Canal, which illustrates the waterway’s 1,000-year history as a "major transportation artery." Furthermore, archaeological breakthroughs in central China have uncovered a 3,000-year-old road network, and the restoration of Beijing's Zheng Yaman archery tower underscores the country's ongoing commitment to preserving its historical and intangible cultural heritage.

🎯Key Sentences

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The GDP was revised.
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That was Sun Tzu -yuan reporting.
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Ross Cullen has more.
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This year also marks the China -France Year of Culture and Tourism.
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But there were also tensions between the two countries this year.
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📝Key Phrases

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economic resilience
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strive for high-quality development
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solid foundation
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in the run-up to
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convergence of views
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📖 Transcript

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