Summarize this content to 2000 words in 6 paragraphs in Arabic Hello, this is Kenji. This week, I am writing this newsletter from Beijing, where I am covering the so-called Two Sessions, the political show performed in the heart of the Chinese capital in early March every year.The “two” refers to the National People’s Congress (NPC), the rubber-stamp legislature under the one-party authoritarian regime, and the Chinese People’s Political Consultative Conference (CPPCC), the highest political advisory body, which is even more ceremonial in terms of its actual influence than the former.Frankly, there has been a lingering question as to why journalists from the free world bother covering this event. Nis Grunberg, lead analyst at German-based Mercator Institute for China Studies, points out “how far the ‘party-fication’ of all political affairs in China has gone” with regard to the Two Sessions, as “all its major decisions are pre-determined in more important [Communist Party] organs”, such as the Central Economic Work Conference and the Central Committee’s Third Plenum.Having covered this event for over two decades, I have often felt the same way, especially as China’s political system and decision-making process drift away from transparency. President Xi Jinping, for example, has never held an open press conference with media from free markets even after over a decade in power.That said — or perhaps, since that is the case — the Two Sessions act as a rare window where outsiders are at least able to see the country’s leaders in action, despite severe restrictions being imposed on journalists.The timing of this year’s event gives it extra meaning, as the first address to Congress by US President Donald Trump in his second term coincided with Chinese Premier Li Qiang’s key speech at the NPC opening. Close attention was paid to Li’s words to catch any hint about how China is going to deal with the latest wave of tariffs, tech-related sanctions and a wider scope of exacerbated tensions between the two powers.Major global corporations have been watching, too, and are making — or trying to make — strategic decisions with substantial financial consequences amid a new and unpredictable political reality.Open the tapsPolitics are becoming a major driver of more and more major corporate investment decisions and business deals.Taiwan Semiconductor Manufacturing C., the world’s top chipmaker, said it will be investing at least an additional $100bn for new chipmaking facilities and packaging plants in the US, President Trump announced. Nikkei Asia’s tech correspondents Cheng Ting-Fang, Lauly Li and Yifan Yu report that TSMC will build three chipmaking plants, two advanced chip-packaging plants, and an R&D facility in the US, on top of the $65bn previously promised for three chipmaking plants.TSMC CEO C.C. Wei stood in the White House, along with Commerce Secretary Howard Lutnick and Trump, who praised Wei’s decision, saying, “By doing it here, he has no tariffs, so he’s way ahead of the game.” Trump has earlier indicated plans for “25 per cent and higher” tariffs on semiconductor devices and other imports, dragging down TSMC’s share price.In his speech to Congress on Tuesday, Trump touted the $1.7tn in foreign investment pledges the US has received in the past few weeks, namechecking tech companies including SoftBank, OpenAI, Oracle, Apple and TSMC. The Taiwanese company, he added, will “build the most powerful chips on Earth, right here in the USA”.Out of office noticeChina’s technology minister Jin Zhuanglong, who played a central role in the country’s push to become a tech superpower, has been removed from office after going missing for two months.Extended, unexplained disappearances by Chinese officials have historically indicated an ongoing official investigation, and four sources said they believed Jin was the subject of a corruption-related probe, write the Financial Times’ Ryan McMorrow and Demetri Sevastopulo.Prior to the investigation Jin was a rising star in China’s ruling Communist Party and an increasingly influential minister as President Xi Jinping worked to reshape the country’s economy around high tech.Jin’s role put him in charge of China’s all-important industrial policy, helping the country catch up with or outpace the west in areas like semiconductors and electric vehicles.He is the fourth incumbent cabinet member, following ministers of defence, agriculture and foreign affairs, to be removed from office as Xi’s anti-corruption and discipline crusade has picked up pace in the president’s third term.Cheaper wheelsWhile a brutal price war rages in the world’s largest auto market, China, its southern neighbour Vietnam has seen its top player VinFast slash prices of its electric vehicles this month, according to a report by Nikkei Asia. The Nasdaq-listed EV arm of the country’s major conglomerate Vingroup is shaving between 2 per cent and 14 per cent off prices for 11 of its models.VinFast sold 97,399 cars last year, of which 87,000 were at home, surpassing global names like Hyundai and Toyota to claim the title of best-selling brand in the country. While the latest price policy should spur further domestic demand, the company is still lossmaking and struggling to get a hold of markets outside its home turf.On Tuesday, Vingroup announced a partnership with a Qatari fund JTA Investment, exploring a potential investment of at least $1bn in VinFast to accelerate its global expansion. Amir Ali Salemi, founder and CEO of JTA, said the collaboration is aimed to “facilitate Vingroup’s strategic expansion into international markets”.AI meets FOMOThe mounting fervour over artificial intelligence in China spurred by homegrown start-up DeepSeek is being felt in numerous ways, even at the NPC in Beijing, where education minister Huai Jinpeng on Wednesday attributed the breakthrough to the country’s talent cultivation scheme.This deep-dive by Nikkei Asia’s Cissy Zhou and Yifan Yu looks at how local governments are racing to embrace DeepSeek for a wide range of administrative works from drafting documents and analysing data to answering public queries and drawing up policies.The enthusiasm in China is in sharp contrast with the global trend of governments banning or moving to ban use of the model on government devices due to concerns over data security, potential waste of resources and the consequences of so-called AI “hallucinations” on policymaking.Such risks are not dampening Beijing’s AI ardour, according to Gregory Allen, director of the Wadhwani AI Center at the Center for Strategic and International Studies in Washington. “The Chinese government is extremely gung-ho about incorporating DeepSeek into absolutely everything right now, and one of the real priorities for the Chinese Communist party is that the AI models that come out do not say things that are politically sensitive or counter to the ideology and propaganda of the Chinese Communist party.”Suggested readsIntel unveils secure chip supply chain program for government clients (Nikkei Asia)‘Chips on the table’: Taiwan pushes for closer US ties as China threat looms (FT)China’s Honor to invest $10bn in AI over next 5 years (Nikkei Asia)Singapore probes suspected fraud in sales of US-controlled Nvidia chips (FT)Elon Musk and China chase humanoid dreams with echoes of EV build-up (Nikkei Asia)Microsoft urges Donald Trump to rethink AI chip export controls (FT)BYD pledges to work with rival Tesla to combat petrol cars (FT)Japan to prioritise homegrown software for cyber security (Nikkei Asia)Indonesia set to lift iPhone ban after deal with Apple on local investment (FT)Space debris accidents would hit poorest economies the hardest (Nikkei Asia)
