Executive Summary: Despite the Chinese Communist Party's restrictions on decentralized virtual currencies, the PRC has maintained a significant underground cryptocurrency industry, with investors posting $1.15 billion in gains in 2023. PRC investors are driven to digital assets by practical considerations amid limited traditional investment opportunities... MORE

Executive Summary: The PRC’s potential to interfere in elections with deepfakes has been noted, with strategies including creating false narratives around candidates and misleading information on electoral processes. Advanced AI tools could further sophisticate these interference efforts, impacting democratic processes worldwide. Beijing appears to have... MORE

Executive Summary: On February 14, an incident occurred to the east of Taiwan’s Kinmen Island, in which an unidentified PRC small boat capsized while allegedly fleeing from an attempted inspection by the Taiwan Coast Guard. The incident resulted in the deaths of two of the... MORE

Executive Summary: Leaked files from iS00N reveal deep insights into the PRC’s intelligence operations, highlighting an intensified global security offensive as well as issues within the intelligence community. iS00N’s growth is tied to Xi Jinping’s aggressive policies and demonstrates the importance of private contractors in... MORE

Executive Summary: Taiwan’s heavy reliance on energy imports, coupled with high energy demands, poses significant challenges, with semiconductor manufacturing being a major consumer. Environmental concerns such as droughts, exacerbated by climate change, and Taiwan’s fossil fuel-heavy energy mix raise serious alarm bells for the island’s... MORE

Executive Summary: Li Qiang’s government work report offered no significant incentives to help the nation’s three sectors most in need of government support. Economic targets were practically identical to those for 2023 but will be harder to achieve. Xi amassed more power through sidelining Li... MORE

Executive Summary: US-China technology competition is no longer confined to only leading-edge semiconductors but is now moving to also include older so-called mature-node or legacy chips. Central and local level Chinese industrial and innovation policies have long pursued a goal of achieving self-sufficiency in not... MORE

Executive Summary: Majority ownership by state-owned Cosco Shipping, and involvement of companies like ZPMC which is closely linked to China's Military-Civil Fusion strategy, raises concerns about the dual-use nature of infrastructure projects and potential military implications. The PRC has become Peru's main trading partner and... MORE

Executive Summary: As the result of the ongoing military reform, the military’s guiding and leadership role over civilian bureaucracies seems to be strengthened. Meanwhile, the responsibilities of the State Council and local governments on NDM have been substantiated, and the administrative work which the PLA... MORE

Executive Summary: Conceptual framings from the military may be influencing how the CCP approaches its management of the economy. The phrase “New Quality Combat Forces” predates the phrase “New Quality Productive Forces” by several years. Now they are being linked as mutually self-reinforcing constructs. Both... MORE