An article published in the People’s Daily on December 12 and the South China Morning Post (December 13) highlighted Chinese President call for self-sufficiency in energy, food and minerals among global challenges at the Central Economic Work Conferemce. He said resource shortages could turn into a ‘grey rhino’ risk – an obvious yet ignored threat – for the world’s No 2 economy. Xi Jinping said China must establish a “strategic baseline” to ensure self-sufficiency in key commodities, from energy to soybeans, as secure supply of primary products moves up the country’s long-term agenda. At the central economic work conference last week, Beijing identified secure supply of primary goods such as agricultural products, minerals and energy as one of five “significant theoretical and practical issues” to prepare for amid the Covid-19 pandemic and changing international relations. It said the four other government priorities were “common prosperity”, capital regulation, defusing major financial risks and carbon neutrality. The People's Daily quoted him as saying “[We] should fortify the national strategic materials reserve system to secure minimum needs at critical moments.” Separately Han Wenxiu, a Deputy Director of the CCP CC's Central Committee for Financial and Economic Affairs, said at a forum on December 11, that “Great shortages of primary commodities are likely to evolve into a grey rhino.” On grain security, Xi Jinping said China’s “arable land area is reducing” and cash crops were being favoured over cereals and legumes. "The more food we have, the more we should think about the time of no grain.” “I have repeatedly said Chinese people’s rice bowls should be firmly held in our own hands, never let others take us by the throat on eating, which is a basic survival issue.” Xi Jinping also doubled down on “stability” as the economic priority for 2022, ahead of the Winter Olympics and the 20th National Party Congress. Xi also called on local cadres to adjust their approach in implementing national carbon emission targets and said “[We] should make the direction right, make the focus clear … should prevent the ‘devil in the details’ hurting the overall situation.” The CCTV newscast on December 14 said Xi had pointed out that 'seeds are the foundation for agricultural modernization. The ethnic seed industry must be promoted, and the security of seed sources must be raised to a strategic level related to national security'.
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