Xi Thought on Party Building; May economic activity; Myanmar President in Beijing; Wang Yi on the Iran deal
We must optimize the layout of higher education, strive to build universities and advantageous disciplines that are of Chinese characteristics and world-class, continuously enhance the capacity to self-reliantly cultivate and to attract and gather high-level talent, and cultivate and strengthen the nation's strategic talent forces. - Xi Jinping
Today’s top items:
1. May economic activity - The May activity data, out from the NBS Tuesday, show the now-familiar split: exports and factories holding up while domestic demand remains weak. Industrial output rose 4.5% year-on-year, which Caixin credits to the AI buildout and resilient exports masking the property drag. Retail sales fell 0.6%, the first drop since the end of 2022.
NBS Spokesman Fu Linghui said the better gauge for retail sales is the combined goods-and-services retail measure that debuted this month, which shows that activity up 2.8% in January–May. The headline retail sales number leaves out most services, and services retail (服务零售额) rose 5.4%, with tourism and culture/sports/leisure both up more than 10%. Fu blamed the goods decline on a high base from last year’s trade-in subsidies and the “6·18” sales, plus the weather. He also conceded that residents’ “consumption capacity and willingness still need strengthening.”
Fixed-asset investment fell 4.1% in the first five months, worse than the 1.7% drop economists expected and steepening from April. Caixin notes manufacturing investment is now contracting, and that ex-property investment at -1.2% is the weakest since the series began in 2024. Home prices kept sliding, faster in the resale market.
Bank lending beat forecasts, but the PBoC’s own data show households still paying down debt and firms favoring short-term bills over long-term loans. Caixin calls it a fragile recovery.
2. Xi Jinping Thought on Party Building - There is a new variant of Xi Thought - Xi Jinping Thought on Party Building.
A national conference on Party building convened Monday in Beijing. Cai Qi, the Politburo Standing Committee member who runs the Secretariat, attended and delivered the address, and Li Xi, the PSC member who heads the CCDI, also attended. According to Xinhua’s account, the conference formally established “Xi Jinping Thought on Party Building” (习近平党建思想) as the “fundamental guideline for strengthening Party building in the new era” and a component of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, credited with “major original contributions to the development of the Marxist theory of Party building.”
According to the readout, translated here:
The meeting stressed that studying and implementing Xi Jinping Thought on Party Building is an important political task for the whole Party in the current period and for some time to come. Party members and officials should be organized and prompted to read the original works, study the original texts and grasp the underlying principles — to know both the what and the why — to further deeply appreciate the decisive significance of the “Two Establishments” and resolutely achieve the “Two Upholds.” Systematic and theoretical research and exposition should be conducted, deeply explaining this thought’s foundational achievements, original contributions, scientific system, rich content, spiritual essence and practical requirements, with propaganda carried out in ways that Party members, officials and the masses welcome. The study and implementation of Xi Jinping Thought on Party Building should be continuously pushed to go deeper and become more solid, guiding Party organizations at all levels to consciously apply it in planning and advancing Party building, and to do well in all aspects of full and rigorous Party self-governance with higher standards and more concrete measures.
会议强调，学习贯彻习近平党建思想，是当前和今后一个时期全党的一项重要政治任务。要组织推动党员、干部读原著学原文悟原理，知其然又知其所以然，进一步深刻领悟”两个确立”的决定性意义，坚决做到”两个维护”。要组织开展体系化学理化研究阐释，深入阐释这一思想的原理性成果、原创性贡献和科学体系、丰富内涵、精神实质、实践要求，以党员、干部、群众喜闻乐见的方式进行宣传。要持续推动学习贯彻习近平党建思想走深走实，引导各级党组织自觉运用习近平党建思想谋划和推进党的建设，以更高标准、更实举措抓好全面从严治党各项工作。
A commentary in the latest issue of Qiushi, translated here, says the “advancing of Xi Jinping Thought on Party Building…can be said to have come at exactly the right time”:
Through their own personal experience, the broad ranks of Party members, cadres, and the masses have come to understand ever more deeply that the fundamental reason Party building in the new era has been able to achieve historic, pioneering accomplishments lies in the navigation and helmsmanship of the Party Central Committee with Comrade Xi Jinping at its core, and in the scientific guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era. The international community has also highly affirmed the new atmosphere of the CPC’s governance and China’s governance. The advancing of Xi Jinping Thought on Party Building conforms to the overall situation and trend and to the will of the Party and the people, has a solid practical foundation, and can be said to have come at exactly the right time.
广大党员、干部、群众在亲身经历中，越来越深刻认识到新时代党的建设能够取得历史性、开创性成就，根本在于以习近平同志为核心的党中央领航掌舷，在于习近平新时代中国特色社会主义思想科学指引。国际社会也高度肯定中国共产党之治、中国之治的新气象。习近平党建思想的提出，顺应大局大势、党心民心，具有坚实的实践基础，可谓正当其时。
Party building joins rule of law, the economy, diplomacy, ecological civilization, and the military as another named sub-body of Xi Jinping Thought, each with its own conference. Studying and implementing it is now “an important political task for the whole Party, now and in the years ahead.” And it is an especially important task in the 17 or so months ahead, as this thought and the expected campaign around it are important political moves ahead of the 21st Party Congress. There are so many strains of Xi Jinping Thought on XXX that I am hoping the 21st Party Congress will simplify things for all of us and finally collapse them into Xi Thought, and perhaps that is Xi’s goal, with help from his consigliere Cai Qi.
According to the readout, this thought distinctly puts forward (这一思想鲜明提出):
Upholding the Party’s leadership is the most essential feature of socialism with Chinese characteristics 坚持党的领导是中国特色社会主义最本质的特征
Upholding the centralized, unified leadership of the Party Central Committee 坚持党中央集中统一领导
Upholding full and rigorous self-governance of the Party 坚持全面从严治党
Upholding staying true to the founding mission and keeping the mission firmly in mind 坚持不忘初心、牢记使命
Upholding taking the Party’s political building as the overarching guide 坚持以党的政治建设为统领
Upholding using the Party’s innovative theory to forge unity of mind and soul 坚持用党的创新理论凝心铸魂
Upholding the tempering of strong Party spirit 坚持锤炼坚强党性
Upholding the improvement of an organizational system that connects top and bottom and executes forcefully 坚持健全上下贯通、执行有力的组织体系
Upholding the building of a high-caliber contingent of officials equal to the heavy responsibility of national rejuvenation 坚持建设堪当民族复兴重任的高素质干部队伍
Upholding the normalization and long-term institutionalization of conduct building 坚持推进作风建设常态化长效化
Upholding using strict discipline to manage and govern the whole Party 坚持用严明的纪律管全党治全党
Upholding the integrated advancement of ensuring that officials do not dare to, are unable to, and have no desire to engage in corruption 坚持一体推进不敢腐不能腐不想腐
Upholding governing the Party through institutions and in accordance with regulations 坚持制度治党、依规治党
Upholding the implementation of the political responsibility for Party management and governance 坚持落实管党治党政治责任
More Party time ahead for cadres, but not in a fun way…