Premier Li on domestic circulation; Ding on tech self-reliance; AI chips; Rare earth magnets; CO2 emissions decline

Summary of today’s Essential Eight:

1. Work Conference on Strengthening Domestic Circulation - Premier Li convened a State Council Work Conference on Strengthening Domestic Circulation. Li called for placing “the strategic focus of development on strengthening the domestic circulation, and use the inherent stability and long-term growth potential of the domestic circulation to offset uncertainties in the international circulation.” He said they must “center efforts on accelerating the construction of a new development paradigm, give greater prominence to strengthening the domestic circulation, [and] coordinate the implementation of the strategy to expand domestic demand and deepen supply-side structural reforms.”

According to the readout Li also:

stressed the need to focus on the key problems and weak links that constrain economic circulation, and to consolidate the foundation for strengthening the domestic circulation by promoting sustained economic improvement. Precise and effective su…