Fred Gao

China's New Economic Priority: Ending the Race to the Bottom Latest economic meeting chaired by Xi suggests Beijing is serious about ending the price wars destroying Chinese industries

My latest piece is about the recent economic meeting chaired by Xi and the latest article published on Qiushi. Dealing with the race-to-the-bottom competition in EVs and local government business attraction measures has become a new policy focus.
open.substack.com/pub/fredgao/...

Diao Daming's Analysis of Trump's Radical Domestic and Foreign Agenda I need to apologize again for refocusing on US politics instead of Chinese affairs (perhaps I should rename this newsletter), but I think Professor Diao’s latest piece is worth sharing.

Diao Daming categorizes Trump's recent radical agendas. His analysis reveals the method behind what many perceive as madness, particularly Trump's negotiation tactics of using extreme pressure as leverage for more modest gains.
www.fredgao.com/p/diao-damin...

Li Xunlei: China's Consumption Challenge Requires New Local Government Metrics Li Xunlei's perspective on restructuring government incentives to support consumption growth amid demographic shifts and economic headwinds

Chief Economist of Zhongtai Securities Li Xunlei analyzed why some local gov are reluctant to subsidize consumption while others prefer to keep investing with diminishing returns, suggesting restructure local gov incentives to support consumption growth. www.fredgao.com/p/li-xunlei-...

Got an interview with Swedish finance media Dagens Industrial, commenting about Chinese companies responses to Trump’s tariffs. Chinese business have been preparing for tariffs since Trump’s first term. By diversifying markets and shifting to ASEAN and Global South, they can handle the new tariffs

Chinese Public Opinion Leaders Respond to "TikTok Refugees" Migrating to RedNote Hu Xijin(胡锡进) and Ming Jinwei(明叔杂谈) on TikTok Exodus

Chinese Public Opinion Leaders Respond to "TikTok Refugees" Migrating to RedNote. Hu Xijin believes China should keep opening its internet and have the courage to embrace this influx of users, viewing it as a rare opportunity rather than a risk. open.substack.com/pub/fredgao/...

China Doubles Down on "Two New" Policy to Boost Consumption Transcript of State Council Policy Briefing on Implementing the New Round of Large-Scale Equipment Renovation and Consumer Goods Trade-in Programs

Merely large-scale equipment renovation and consumer goods trade-in are not enough. Expecting more direct subsidies for rural residents and those who have no pensions.
open.substack.com/pub/fredgao/...

More Active Fiscal Policy Should Target Consumption Boost: Ex-Deputy Director of CPPCC Economic Committee Suggested As Investment Returns Diminish, Next Stage Fiscal Policy Should Focus on Direct Transfer Payments to Low-income Groups and Relax High-end Consumption Restrictions

The ex-deputy director of the Office of the CPPCC Economic Committee suggests that fiscal policy should be directed toward expanding consumption and increasing transfer payments to low-income groups. Relax high-end consumption restrictions open.substack.com/pub/fredgao/...

What Did the Chinese Politburo Learn in 2024? Reviewing Politburo Learning in 2024

What Did the Chinese Politburo Learn in 2024? Topics vary from new energy development(Feb) to building China into a cultural powerhouse(Oct). I made a summary on politburo learning sessions and key takeaways; go check it out: www.fredgao.com/p/what-did-c...

Yao Yang on The Theoretical Foundation of China's Socialist Welfare System Former Dean of PKU's National School of Development Discusses the Objectives of China's Welfare System

Professor Yao Yang, former Dean of PKU’s National School of Development, discussed the objectives of China’s socialist welfare system in his latest piece. A must-read to understand the ongoing public discussion surrounding enhancing Chinese welfare system www.fredgao.com/p/yao-yang-o...

China-India Dialogue Resumes: Analyzing Beijing's Signals in Border Relations The 23rd Meeting of Special Representatives for the China-India Boundary Question (MSRCIBQ) was held on Wednesday in Beijing, where six points of consensus were reached.

China-India dialogue resumes with some positive signals, but the core of the dilemma is yet to be touched. Some of our analysis below
open.substack.com/pub/fredgao/...

On my first day of vacation, I prepared firewood in a pre-recorded house of my friend in Dachang, Hebei Province, just one hour drive from where I live. Also made Beijing ver copper pot hotpot. There are so many interesting things to do

What the……

China and Starbucks special edition, with mashed apple and cinnamon, tastee like 冰糖葫芦 with American characteristics🤣

China's Politburo Signals "Extraordinary" Counter-cyclical Measures and "Proactive" Macro Policies for 2025 Key Economic Signals from China's December Politburo Meeting

This time's characterization of fiscal and monetary policies shows an unprecedented level of commitment to stimulus. It specifically emphasized a more active fiscal policy, a moderately loose monetary policy, and extraordinary counter-cyclical adjustment
www.fredgao.com/p/chinas-pol...

Can CIPS Replace SWIFT? Insights from Bank of China's Former Vice President Former Bank of China VP Wang Yongli: CIPS Should Separate Fund Account and Messaging Systems

Wang Yongli, the Bank of China's Former VP, suggests CIPS to focus on account system development while establishing an independent messaging component. Messaging system should follow the initial model of SWIFT, free of ALL state control-including China www.fredgao.com/p/can-cips-r...

Joined the GYLD dialogue, guest from Korea specifically mentioned the end of martial law, like it

Chinese industry pushes back: 4 major trade groups—Internet, Semiconductor, Auto & Communications—issue strong responses to US Dec 2 chip curbs. www.fredgao.com/publish/post...

Go to Tianjin to watch the musical Cats; love it

It was the first US series I saw when I was very young. Still astonishing on the standard today, I even rewatch that every two years

ICwise's Gu Wenjun on Bridging EU-China Semiconductor Cooperation The Man Who Brokered STMicroelectronics' Chip Investment in China Believes Face-to-face Meetings and China Visits Are Key to Breaking Barriers

The man who brokered STMicro's chip investment in China believes Face-to-face meetings break barriers better than any virtual communication &CEO visits to China dispel misconceptions - one visit > ten video calls open.substack.com/pub/fredgao/...