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Read on for a sneak peek of this week's 'China 5' newsletter, bringing you 5 big things you need to know about China each Friday from our experts at the Center for China Analysis ⬇ 1️⃣ Xi will preside over the Third Plenum in Beijing from July 15 to 18. The meeting will issue a decision on “further comprehensively deepening reform” amid pessimism about China’s economic future, guiding policymaking for years to come – Neil Thomas 2️⃣ A social media firestorm began when state-backed newspaper Beijing News broke a story that tankers used to transport coal-derived products were also being used to move cooking oil and syrup without being cleaned to save costs. State broadcaster CCTV posted an unusually pointed commentary stating that the issue posed “extreme disregard” for people’s health and that such malpractice could “consume the lives” of citizens — Jennifer M. Choo, Ph.D. 3️⃣ China’s central bank, the People’s Bank of China, implemented a new strategy to manage the bond market by borrowing government bonds worth hundreds of billions of yuan from major financial institutions. Borrowing and selling bonds aims to prevent low yields that could destabilize the financial system and threaten the yuan’s value — Lizzi C. Lee, Fellow on Chinese Economy 4️⃣ After visits to Russia and Ukraine last week, Hungarian prime minister Viktor Orbán made a surprise visit to Beijing. Hungary remains one of a handful of diplomatic partners showcasing China’s neutrality and willingness to find a peaceful solution to the conflict in Ukraine. Under Orbán, Hungary has built substantial political and economic ties with China, including hosting a number of Chinese electric vehicle battery factories — Lyle Morris 5️⃣ A pair of tornadoes struck Shandong Province in the latest series of extreme weather events impacting the region. One of the tornadoes touched down in the city of Heze, claiming the lives of 5 people and injuring 88 — Taylah Bland 🇨🇳 To never miss an update, subscribe to 'China 5' here:  https://lnkd.in/eteSxi32

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