In this issue:
Xi meets Jordan’s king
Sixth Plenum of the CPC Central Commission for Discipline Inspection
“Zhong Caiwen 钟才文” on the economy
Fiscal revenue grew in July
Formaldehyde-dipped cabbage
US-China
The Feed: Business, Economy and Trade - Politics and Law - Foreign and Defense Affairs - Hong Kong - Taiwan - Tech and Media - Society, Arts, Sports, Culture and History - Energy, Environment, Science and Health - Rural and Agricultural Issues
Today’s top items:
1. Xi meets Jordan’s king - Xi Jinping met Monday with King Abdullah II of Jordan. According to the readout, translated here:
The two heads of state exchanged views on the situation in the Middle East. Xi Jinping emphasized that China has consistently advocated a comprehensive ceasefire and an end to hostilities, the resolution of disputes through political and diplomatic means, and respect for the sovereignty and security of regional countries, including Jordan. The Palestinian question is at the core of the Middle East issue, and efforts to resolve it should adhere to four principles. First, a political settlement must be upheld. The correct direction of the two-state solution should be firmly maintained, Israeli–Palestinian peace talks should be restarted, and an independent Palestinian state should be established at an early date. Second, the principle of “Palestinians governing Palestine” must be upheld. Palestine is the homeland of all Palestinians, and governance of the West Bank and the postwar reconstruction of Gaza should proceed in accordance with this principle. Third, humanitarianism must be upheld. The international community, particularly the United Nations Security Council, should earnestly shoulder its responsibilities, protect civilian safety, ensure humanitarian assistance, and halt the humanitarian catastrophe. Fourth, fairness and justice must be upheld. Efforts should take the international rule of law as their foundation, address both symptoms and root causes as their goal, and use practical action as their path, so as to achieve a comprehensive, just and lasting settlement of the Palestinian question at an early date.
两国元首就中东地区局势交换了意见。习近平强调，中方一贯主张全面停火止战，通过政治外交途径化解争端，认为包括约旦在内地区国家的主权和安全应当得到尊重。巴勒斯坦问题是中东问题的核心，推动解决这一问题应坚持4点原则：一是必须坚持政治解决，锚定“两国方案”这一正确方向，推动巴以重启和谈，实现巴勒斯坦早日独立建国；二是必须坚持“巴人治巴”，巴勒斯坦是所有巴勒斯坦人的家园，应秉持“巴人治巴”原则推进约旦河西岸治理和加沙战后重建；三是必须坚持人道主义，国际社会特别是联合国安理会应该切实负起责任，保护平民安全，确保人道主义援助，制止人道主义灾难；四是必须坚持公平正义，以国际法治为基础，以标本兼治为目标，以务实行动为路径，推动巴勒斯坦问题早日实现全面、公正、持久解决。
The joint statement, translated here, had this to say about the Iran war:
11. The two sides emphasized the need to maintain the ceasefire between the United States and Iran and, through dialogue and negotiation, reach a comprehensive solution capable of eliminating the root causes of tensions while ensuring respect for the sovereignty, security and territorial integrity of regional countries. The Strait of Hormuz is an important corridor for international trade in goods and energy, and normal passage through the strait should be restored.
十一、双方强调，应该维持美国与伊朗之间的停火，通过对话谈判达成能够消弭局势紧张根源的全面解决方案，确保尊重地区国家主权、安全和领土完整。霍尔木兹海峡是国际货物和能源贸易重要通道，应该恢复海峡正常通行。
2. Sixth Plenum of the CPC Central Commission for Discipline Inspection - CCDI Plenums usually convene in January, so the Sixth Plenum on Saturday was a rare out-of-cycle meeting. The communique announced two new deputy secretaries - Zhao Shiyong and Zhang Zhong. Zhang is also now a member of the CCDI Standing Committee. They replace two of Wang Qishan’s close associates - Xiao Pei and Fu Kui.
We do not know why this Plenum convened now, but my operating assumption is that it involves preparation work for something that will come out of the upcoming Fifth Plenum, perhaps related to closing out the cases of fallen senior officials, and maybe even something more on Xi Jinping Thought on Party Building. From the communique, translated here:
The plenary session thoroughly studied and implemented Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, particularly Xi Jinping Thought on Party Building. The meeting pointed out that Xi Jinping Thought on Party Building is the Party-building component of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era. It is a systematic summary and theoretical elevation of the practical experience of exercising full and rigorous Party self-governance in the new era, and is broad and profound, rich in content, deep in thought, and rigorous in its system. It has led the entire Party to open up a new realm of self-reform for a century-old major party and provides the fundamental guidance and action guidelines for governing and managing the Party and for invigorating and strengthening it. Discipline inspection and supervision organs are an important force for advancing full and rigorous Party self-governance. They must deeply understand the decisive significance of the “Two Establishes,” resolutely achieve the “Two Upholds,” remain unwavering firm believers in and faithful practitioners of Xi Jinping Thought on Party Building, steadfastly follow the anti-corruption path with Chinese characteristics, and advance the high-quality development of discipline inspection and supervision work on the new journey of the new era with higher standards and more concrete measures.
全会深入学习贯彻习近平新时代中国特色社会主义思想特别是习近平党建思想。会议指出，习近平党建思想是习近平新时代中国特色社会主义思想的党建篇，是新时代全面从严治党实践经验的系统总结和理论升华，博大精深、内涵丰富、思想深邃、体系严密，引领全党开辟了百年大党自我革命新境界，为管党治党、兴党强党提供了根本遵循和行动指南。纪检监察机关是推进全面从严治党的重要力量，必须深刻领悟“两个确立”的决定性意义、坚决做到“两个维护”，矢志不渝做习近平党建思想的坚定信仰者、忠实实践者，坚定走好中国特色反腐败之路，以更高标准、更实举措推进新时代新征程纪检监察工作高质量发展。
3. “Zhong Caiwen 钟才文” on the economy - People’s Daily has run four consecutive articles on page two by “Zhong Caiwen 钟才文”, assumed to be the pen name for an article written by the Central Financial and Economic Affairs Commission. The last time we saw a run of consecutive 钟才文 pieces in People’s Daily was September 30-October 7, 2025, just ahead of the Fourth Plenum, with eight articles under the theme “习近平经济思想指引下的中国经济专论 Special Commentaries on the Chinese Economy Under the Guidance of Xi Jinping Economic Thought.” People’s Daily said afterwards the series was about how to understand the economy and how to do economic work, to stabilize expectations, strengthen confidence and promote development.
The articles so far do not seem to be signaling any upcoming shifts in policy, but rather a continuation of the “steady as she goes, we are confident and can handle the pressures as we transition the economy”, with maybe some incremental tweaks along the way as well as faster implementation of existing policies.
From the Monday installment - What Does 4.7% Economic Growth in the First Half Tell Us? 上半年经济增长4.7%说明了什么？:
Compared with some economies that rely on high debt and large deficits to stimulate growth, China has not followed a path of excessive reliance on strong policy stimulus. Aggregate policies have remained proactive and effective, while structural policies have targeted key pressure points, avoiding the creation of a “policy dependency.” Overall, the supporting conditions and basic trend for the long-term improvement of China’s economy have not changed. The macro-policy toolbox is ample, there remains substantial room for countercyclical adjustment, China has the conditions to introduce practical and effective incremental policies as circumstances change, and it has the capacity to accomplish the full-year economic and social development targets and tasks.
相比于部分经济体依靠高债务、高赤字刺激经济，我国没有走过度依赖政策强刺激的路子，总量政策保持积极有为，结构政策“点穴”发力，避免形成政策“依赖症”。总的看，我国经济长期向好的支撑条件和基本趋势没有改变，宏观政策工具箱充足，逆周期调节空间依然较大，有条件根据形势变化出台务实管用的增量政策，有能力实现全年经济社会发展目标任务。
The Fifth Plenum is not until October, so the timing may be more related to the upcoming August Politburo meeting sometime in the next six days, but that is just a guess.
Here are translations of the articles so far:
The Resilience and Vitality of the Chinese Economy 中国经济的韧性与活力
What Does 4.7% Economic Growth in the First Half Tell Us? 上半年经济增长4.7%说明了什么？
Promote the Steady and Sustained Advance of High-Quality Development 推动高质量发展行稳致远
4. Fiscal revenue grew in July - Fiscal revenue grew 11.7% in July over the same period in 2025. From Caixin:
China’s fiscal revenue jumped 11.7% year-on-year in July, marking the fastest monthly growth since late 2024, though government spending remained sluggish.
General public budget (GPB) revenue was boosted by a 13.9% jump in tax receipts, Ministry of Finance data showed. The GPB is the largest of the four budgets in China’s fiscal system.
A bustling stock market fueled a 108.6% surge in stamp duty revenue from securities trading, while corporate and individual income taxes soared 20.8% and 25.9%, respectively.
The robust revenue collection contrasts sharply with weak state expenditure. GPB spending ticked up just 0.5% in July.
5. Formaldehyde-dipped cabbage - A citizen blogger filmed farmers in Hebei dipping recently harvested cabbage in formaldehyde before loading them onto open, unrefrigerated cargo trucks for delivery to markets in other regions. The videos have caused outrage, and the Food Safety Office of the State Council, the Ministry of Agriculture and Rural Affairs, and the State Administration for Market Regulation issued a statement, translated here, in which they “immediately directed local authorities to investigate and verify the facts, handle the matter strictly and swiftly in accordance with the law, trace the flow of the cabbages involved, and work rigorously to prevent problem products from entering the market.”
This is not a new issue, as Yicai notes in “At Least 2–4 Layers of Wholesalers From Field to Table: Questions About Circulation and Supervision”:
Formaldehyde cabbage is not entering public view for the first time. A similar incident was exposed in Qingzhou, Shandong, in 2012; media reports at the time said a large jug of about 2.5 liters of formaldehyde solution cost only 7 yuan, and half a jug was enough for a 10-ton truckload of cabbage.
甲醛白菜并非首次进入公众视野。2012年山东青州就曾曝出类似事件，彼时媒体报道称，一大壶约2.5升的甲醛溶液仅需7元钱，一车10吨白菜用半壶就够了。
More than a decade on, the same violation is still happening. But formaldehyde cabbage is only the tip of the iceberg of vegetable quality and safety problems.
十几年过去，同样的违规操作依然在发生。但甲醛白菜只是蔬菜质量安全问题的冰山一角。
Sampling data from national authorities at all levels repeatedly expose problems such as excessive pesticide residues; beyond pesticide residues, these also include the irregular use of preservatives.
在国家各级抽检数据中，屡屡曝出农残超标等问题，除了农药残留，还包括保鲜剂违规使用。
Videos of the dipping:
6. US-China - Bloomberg reported today that the US will add another 7.5% tariff on PRC goods “over allegations of excess manufacturing capacity”, but that was to be expected and should not draw a substantive reaction from the PRC side.
PRC officials are likely correct in believing that the Trump Administration’s announcement of an “Economic D-Day” against Iran will not include sanctions against any major PRC financial institutions or central SOEs, as Trump wants the Xi visit in September and the PRC still has too much leverage over rare-earths. From what I am hearing so far, this may be more like “Economic T-Day”, T as in Taco, when it comes to actions against China over Iran.