Issue No. 177 | Oct. 30, 2019
Dedicated to the development of the future stewards of U.S.-China relations
Cryptography Law
On October 26, China's National People's Congress adopted a new cryptography law 【密码法】 ( English ), which will take effect on January 1, 2020. NPC Observer provides the Chinese text of the cryptography law, as well as other relevant legislative history, texts and records for those who are interested. You can find English analysis of the law at in The Diplomat and by USCBC (paywall).

Xi Jinping just held a Politburo Study Session about this topic, specifically the development of blockchain technologies (区块链技术).

Although cryptocurrencies like Bitcoin are still banned in China, this latest move belies the Party's interest in creating its own blockchain-based cryptocurrency (加密货币), a.k.a the Digital Currency Electronic Payment System (DCEP), expected to be backed by the People's Bank of China and paired with mobile payment apps like Alipay and WeChat Pay.

This law seeks to not only establish a framework for digital finance in China, but also to open the doors to more research and innovation in blockchain technology.

Read more on blockchain technology in China here: 区块链技术又火了一把,你了解多少? and more on DCEP here: Chinese table (source: Twitter, @mg0314a )

And finally, a funny video for you.
俗语 from Xi Jinping's Speeches
mǎn zài ér guī

Meaning: to return from a rewarding journey

Original: "我衷心希望,参会参展的各国朋友都能广结良缘、满载而归!"

Pending Xi's remarks from this year's China International Import Expo (中国国际进口博览会), we are flashing back to last year's .

Foreign Investment
On Tuesday Oct 29, China's State Council hosted a 吹风会 about guidelines for better facilitating foreign investment, as per 《关于进一步做好利用外资工作的意见》, which was approved by the State Council on Oct 16.

Today's reading is a 商务微新闻 summary of the press conference, which provides some background and introduces the 20 measures in the 《意见》aimed at stabilizing foreign investment, such as removing restrictions on foreign investments that are not on "negative lists" (负面清单) and not forcing foreign investors and companies to transfer technologies (技术转让).

English summaries of the press conference can be found by Reuters , AP news , and CNBC .
2019 DC Chinese Film Festival
The 2019 DC Chinese Film Festival & The One International Women Film Festival will together present "ON BOTH SIDES OF THE CAMERA - Women in Film Retrospective." Film screenings will take place on Nov.7-10 2019 in Washington DC.

According to the festival's Facebook page , "This year, DCCFF brings the spotlight to both female filmmakers and females on screen, with the goal of showcasing the changes to women’s role in society and addressing issues of gender and sexuality​."

The opening film is Send Me To the Clouds (送我上青雲) on Nov 7 at 7:30pm.

For those of you not in Washington but in need of a movie fix, the documentary One Child Nation will be available to stream next Friday Nov 8 on Amazon video . Some new Chinese titles are now available to rent, including Zhang Yimou's Shadow and Jia Zhangke's Ash is the Purest White .
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