China Press Review – April 10, 2019

Press review

Premier Li meets with Belgian Prime Minister
The premier spoke highly of current relations between the two countries and said China will strengthen cooperation with Belgium in diverse fields and exchanges in regional and international affairs. He called on both countries to fully carry out consensuses that have been reached to make new progress in their all-round partnership of friendship and cooperation.
global.chinadaily.com

Chinese Premier Li Keqiang tells EU that subsidies are for protecting workers, not industrial advantage
China agrees ‘breakthrough’ to work with Europe on WTO reform and subsidies Li calls on Brussels to treat Chinese companies the way it would treat its own
www.scmp.com

EU announces ‘breakthrough’ on trade with China
China has vowed at a summit with the EU not to make companies share intellectual property. The talks marked a significant shift for Beijing amid growing concerns about China’s influence in Europe.
www.dw.com

Before a joint statement, a threat: EU diplomats nearly walked out of talks with China
A rare show of EU hostility, diplomats said, reflected its impatience with China’s lack of follow-through on market reforms The EU representatives seemed to take a lesson from how US President Donald Trump and his team pressured China, analysts said
www.scmp.com

EU and China sign a Mandate of Trade Heaven
Beijing promises an investment deal by next year, to curb industrial subsidies and the need for tech transfers, while the EU promises its own transport network
www.asiatimes.com

As China-EU summit ends, Premier Li Keqiang vows reforms: ‘When we say it, we have got to do it
China and the European Union try to smooth over differences at annual meeting amid increased trade tensions The two sides draft a joint statement, despite earlier suggestions EU leaders might walk away from talks
www.scmp.com

China could be big winner in no-deal Brexit
A no-deal Brexit would hit the EU and developing countries, but bring big gains for China and the US, a new report says. Unwinding economic integration is not only complex, but doing so is a bad idea, its author says.
www.dw.com

Dubrovnik 16+1 summit rolls the red carpet for China
From coal plants to airports and bridges, China is forking out for investments across the Western Balkans, laying groundwork for a new battle for influence on the European Union’s fringe.
www.euractiv.com

Can Croatia act as a bridge connecting China and Europe?
After attending the 21st China-EU leaders’ meeting in Brussels, Chinese Premier Li Keqiang continues his Europe tour with an official visit to Croatia – both a member state of the European Union and a participant in the cooperation mechanism between China and 16 Central and Eastern European countries (CEEC). Li will also take part in the annual China-CEEC summit in Dubrovnik, a city on Croatia’s Adriatic coast.
news.cgtn.com

China building influence in Western Balkans as infrastructure investment matches that of EU
Chinese firms are filling development gaps in cash-strapped countries whose dreams of entering the EU are fading
www.scmp.com

What the US will lose in a trade agreement with China, thanks to Donald Trump
Any gains the US can achieve – even with the best possible trade deal – will only be temporary By forgoing the admittedly more arduous multilateral route through the World Trade Organisation, America is setting a terrible precedent
www.scmp.com

U.S.-China Sentiment Is Improving, Great Eagle Billionaire Says
After months of tension amid trade talks and Canada’s arrest of a Huawei executive on a U.S. warrant, sentiment in U.S.-China relations is improving, the chairman of an elite Chinese-American group believes.
www.forbes.com

China and Italy Sign New Double Taxation Agreement
China and Italy have updated their bilateral double tax agreement (DTA) to encourage investment and provide greater fiscal certainty as the two countries grow closer economically.
www.china-briefing.com

China’s March exports seen rebounding, imports falling again: Reuters poll
China’s exports are expected to have rebounded in March after a sharp drop in February, while imports likely shrank for a fourth straight month but at a more modest pace, a Reuters poll showed.
www.reuters.com

podcast : EU/China ease trade tensions
European Union Council President Donald Tusk has called it a breakthrough. The EU-China leaders summit in Brussels saw Beijing make concessions on key trade issues like market access and intellectual property.
www.dw.com

Hungary says it sees Huawei as a strategic IT partner
Finance minister meets senior executive from the Chinese tech firm, says the company will help Hungary to develop its broadband internet network
Huawei has faced growing scrutiny around the world amid security concerns
www.scmp.com

The Global Economy: A Delicate Moment
A year ago, economic activity was accelerating in almost all regions of the world. One year later, much has changed. The escalation of US–China trade tensions, needed credit tightening in China, macroeconomic stress in Argentina and Turkey, disruptions to the auto sector in Germany, and financial tightening alongside the normalization of monetary policy in the larger advanced economies have all contributed to a significantly weakened global expansion, especially in the second half of 2018.

The Global Economy: A Delicate Moment

U.S.-China ‘Cold War’ narrative is misleading
To win the economic game, the U.S. should be aware that its strategic advantage resides in the power of its alliances. The network of alliances around the globe, when combined, constitutes a huge market under U.S. influence. Given that the Chinese economy is expected to surpass the U.S. in absolute size, the alliance effect that the U.S. has cannot be understated. Without this collective buying power, U.S. hegemony will be severely compromised. The trade war is likely bound for some version of economic enclosure.
www.japantimes.co.jp/opinion/2019/04/10/commentary/japan-commentary/u-s-china-cold-war-narrative-misleading/#.XK3haFUzY2w

China’s Economy Is Looking Better and Better
Analysts from banks including HSBC Holdings Plc, Morgan Stanley and Goldman Sachs Group Inc. are increasingly confident that the world’s second-biggest economy is finding its feet after a rocky start to the year. Corporate tax cuts, an upswing in manufacturing and expected progress on a U.S. trade deal are among the factors buoying optimism.It’s not just bank analysts. The International Monetary Fund on Tuesday raised its forecast for Chinese growth by 0.1 point to 6.3 percent this year even as it cut its outlook for global growth to the lowest since the financial crisis.
www.bloomberg.com

IMF raises its 2019 growth forecast for China
In the latest World Economic Outlook report released Tuesday, the International Monetary Fund said China is projected to grow by 6.3 percent this year — higher than the previous forecast of 6.2 percent. The fund said the outlook for U.S.-China trade tensions has “improved” and Beijing’s effort to support its economy has helped “counter the negative effect of trade tariffs.” China, the second-largest economy in the world, grew by 6.6. percent last year — its worst performance in 28 years
www.cnbc.com

China’s Demand for Energy Undimmed by Economic Slowdown
Despite concerns about an economic slowdown, China’s demand for energy continued to see strong growth last year, with both gas and renewables seeing double-digit growth in consumption. China surpassed Japan to become the world’s biggest gas importer last year, largely thanks to the government’s drive to shift the burden of heating homes away from highly polluting coal power plants and onto gas plants. China’s gas consumption rose 17.7% to 279 billion cubic meters (bcm), according to the U.S. International Energy Administration. That is still around a third of U.S. gas consumption, which rose 10.5% to 854 bcm, however.
www.caixinglobal.com

The unlikely end to China’s New Silk Road us in Germany’s Rust Belt
The vast map of the world that hangs in Shanghai Pudong airport shows only four European cities. Three — Paris, London, Berlin — are marked with small dots. The biggest is reserved for Duisburg.
www.ozy.com

China’s ‘Greater Bay Area’ seeking investment
Leaders from the southern Chinese province of Guangdong, Hong Kong and Macau are seeking increased Japanese investment in their region.
www3.nhk.or.jp/nhkworld/en/news/20190409_32/

China roundtable: A technological cold war?
Our panel discussed China’s growth story as it opens its financial markets further to foreign investors, MSCI inclusion in major benchmark indices and the battle for technological supremacy.
www.funds-europe.com

JD.com reportedly planning to lay off as many as 12,000
JD.com is working on a new round of layoffs that could affect up to 8% of its 150,000 employees, or more than 12,000 positions across various business units, The Information reported citing investors in the Nasdaq-listed company. However, the company denied the report to TechNode on Wednesday.

Briefing: JD.com reportedly planning to lay off as many as 12,000

JD targets deep job cuts as morale sags at Chinese online shopping site
JD told managers it is looking to reduce headcount across the company, cutting some teams by as much as half JD is reneging on some work contracts and offering affected college graduates token compensation
www.scmp.com

China “a great opportunity” for Italian design, says Italian PM
The sound relationship between Italy and China will provide a great opportunity for Italy’s design sector, Italian Prime Minister Giuseppe Conte said Tuesday in an opening speech at the 58th edition of the Milan Furniture Fair.
www.xinhuanet.com

Pinduoduo’s reputation as fake seller endures as Apple seeks to halt sales
Chinese social e-commerce upstart Pinduoduo can’t rid itself of its reputation as a counterfeit seller. The social e-commerce site has denied that Apple is seeking to cut off distributors from supplying its products to the platform due to concern over counterfeit products in response to media reports about the dispute.

Pinduoduo’s reputation as fake seller endures as Apple seeks to halt sales

Xiaomi’s founder Lei Jun receives £735m bonus
The founder of Xiaomi has been given a “reward” worth more than £735m by the Chinese smartphone-maker.
www.bbc.com

SUPPLEMENTS»CHINA REPORT 2019
www.funds-europe.com

China’s proposed cryptocurrency mining ban is unrealistic and reaction overblown

On Monday, China’s state planning body, the National Development and Reform Commission (NDRC), said it was seeking public opinion on a revised list of activities that it wants to restrict or phase out, including crypto mining. The ban would also include bitcoin.

China’s proposed cryptocurrency mining ban is unrealistic and reaction overblown

Shiseido, Watson to debut pollution fighting skincare line in China
‘Urban Damage Care’ product line will leverage Japanese expertise in developing high quality skin care products
www.scmp.com

Infiniti to launch first electric car, to be made in China
That’s the aim of the Qs concept it’s showing in Shanghai
www.autoblog.com

The Blue Paper of Climate Change 2019 in China is released
On April 3, China Meteorological Administration (CMA) issued the Blue Paper of Climate Change 2019 in China (hereafter referred to as the Blue Paper). Integrated observation of the climate system and multiple key indicators have showcased that the warming trend of the climate system is persisting. Extreme weather and climate events in China are more frequent and intense, with a rising climate risk level.
reliefweb.int/report/china/blue-paper-climate-change-2019-china-released

US says talks with Beijing on ethanol tariff positive, but ‘it’s never over till it’s over with the Chinese’
Agriculture Secretary Sonny Perdue adds disparaging note of caution to proceedings Source in Washington says biofuels were bright spot in last week’s US-China talks
www.scmp.com

China’s CCCC reiterates it has not given up on Malaysia rail project
Company says it has proposed plans to lower construction cost of East Coast Rail Link
asia.nikkei.com

Chinese officials sacked over leaflet listing doctors as top target in organised crime fight
Promoting nationwide campaign, authorities in Weitang, Suzhou called it the country’s No 1 profession ‘with a dark heart’ The township government has apologised, saying it had ‘copied inappropriate materials’ and failed to check the content
www.scmp.com

Chinese surveillance cameras in UK parliament spark concerns
Hikvision has been accused of profiting from China’s mass surveillance system, which UK politicians say makes procurement problematic.

Briefing: Chinese surveillance cameras in UK parliament spark concerns

Corrupt Chinese official who used spy movie tricks to hide bribes jailed for 18 years
Inner Mongolian cadre accepted more than US$22 million from officials and businessmen and hid the proceeds in chicken coops and disused water tanks
www.scmp.com

Unloved but essential: 40 years on, the Taiwan Relations Act remains flexible, durable and effective
A conference reflects on how a 1979 US law has managed to keep an uneasy cross-strait peace ‘Strategic ambiguity’ has benefited not only Taiwan, but China and the US as well
www.scmp.com

China clears entrepreneur Gu Chujun of two charges amid campaign to reassure private sector
Supreme People’s Court upholds third charge of illegal diversion of funds Local authorities in city of Shunde must share blame with Gu, says court after review
www.scmp.com

Education as an instrument for China’s soft power

China is lavishing scholarships on foreign students and opening up institutions around the world as it looks to exert influence and serve the national interest in a different way.
www.trtworld.com

The Cycle of Negligence at China’s Health-Check Companies
They hire unlicensed doctors, ignore safety regulations, and miss the warning signs of cancer. But businesses offering private health exams still turn huge profits.
www.sixthtone.com

China’s astronomers helped capture photo of black hole but couldn’t use world’s biggest telescope to do it
Distance no object, but China’s Fast did not take part in cosmic event because it could not properly be tuned in to targets that lie light years away
www.scmp.com

—————————————–
Alain Gillard
Information Officer
Awex
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