China Press Review – April 26, 2019

Press review

How China is looking beyond borders
The “Belt and Road Initiative” was announced by the Chinese government in 2013 as a global trade strategy based on the ancient Silk Road trading route.
multimedia.scmp.com

Six key takeaways from Xi Jinping’s Belt and Road Forum speech to world leaders
No mention of US-China trade war, but elements of contention addressed No devaluation for the yuan but pledge to keep Chinese currency stable
www.scmp.com

China’s Belt and Road is ‘green and clean,’ says Xi
Chinese President Xi Jinping says the Belt and Road program must be “open, green and clean.” Beijing wants to dispel fears that its infrastructure plans will leave countries saddled with debt and environmentally damage.
www.dw.com

China will not devalue yuan, Xi tells world leaders at Belt and Road Forum
Beijing is seeking to resolve growing concerns about its global infrastructure push Forum communique will be considered by 37 world leaders on Saturday
www.scmp.com

China seeks to allay belt and road ‘debt trap’ concerns with standard for assessing financial risk
Document is based on similar measures used by the World Bank and International Monetary Fund, Finance Minister Liu Kun says Countries will be classed as low, medium or high risk, document says
www.scmp.com

Xi pledges Belt and Road reboot amid rising ‘debt trap’ concerns
‘We need to ensure the fiscal and commercial suitability of all projects’
asia.nikkei.com

podcast : China fights to allay ‘Belt and Road’ concerns
China has invited delegates from all over the world to Beijing, in defence of the Chinese megaproject of the coming 50 years. The ‘Belt and Road’ initiative presents massive opportunities, but has also been shrouded in criticism.
www.dw.com

Belt and Road forum: Xi Jinping promises transparency to ease concerns
President promises ‘zero tolerance for corruption’ and says global transport plan should bring prosperity to all
www.theguardian.com

IMF’s Lagarde says China’s Belt and Road should only go where sustainable
China’s massive Belt and Road infrastructure programme should only go where it is needed and where the debt it generates can be sustained, International Monetary Fund Managing Director Christine Lagarde said on Friday (April 26).
www.straitstimes.com

This way to the Belt and Road Forum … Or it is this way? Or this way?
There were few takeaways for many businesspeople and reporters as they struggled to find their way through the first day of the big event
www.scmp.com

How can the EU stop China stealing its secrets?
China is often accused of cheating. Whether it be about undermining prices by dumping cheap goods; sidestepping workers rights; or even stealing information to gain an advantage over competitors. But at the same time, no EU country can afford to ignore the world’s trade superpower.
www.euronews.com

Trump Says Xi Jinping of China Will Visit Soon, Stirring Anticipation of a Completed Trade Deal
The president has suggested in the past that Mr. Xi would travel to the United States for a signing ceremony once the countries have a final deal.

Days ahead of next round of talks, US slams China for ‘failure’ on intellectual property reform
Report from US trade representative’s office says China continues to engage in ‘unfair and harmful conduct’ that damages US intellectual property rights China is to remain on Washington’s ‘priority watch list’ for IP protection infringement, according to report
www.scmp.com

The Power of China’s Urban Clusters
The “Chinese Dream” of national rejuvenation touted by President Xi Jinping is not, as some in the West seem to think, about world domination. Instead, China has advanced a vision of inclusive, sustainable economic growth – and its leaders are doing what it takes to translate that vision into reality In February, China’s State Council unveiled guidelines for developing the “Greater Bay Area” (GBA), covering nine cities around the Pearl River Delta in Guangdong province, plus Hong Kong and Macau. While the rest of the world remains mired in a seemingly interminable debate over how to achieve inclusive and sustainable growth, China is working to deliver it.
www.project-syndicate.org

Why China Can’t Pull Up the World
Beijing’s stimulus has been targeted and domestically focused. That means it won’t do much to boost growth elsewhere.
www.bloomberg.com

China’s economy is moving up a gear
“China is the dog and the rest of the world economy is its tail,” says John Authers on Bloomberg. The global economy breathed a sigh of relief when the Chinese economy, the world’s second largest, grew by 6.4% year-on-year in the first quarter of 2019, slightly better than expected and the same pace as in the previous three months. Factory output went up by 8.5% in March, and retail sales expanded by 8.7%.

China’s economy is moving up a gear

Why China Will Rival the U.S. in High Tech
Critics who say bureaucracy and rote education stifle innovation are missing the biggest factor in the mainland’s favor: its huge market.
www.bloomberg.com

Founder Ren Zhengfei says Huawei should learn from Apple – and set higher prices
World’s largest telecoms equipment supplier expects higher prices to help ‘maintain good order’ in global market
www.scmp.com

Huawei’s stance on ownership spurs further doubts about company control
Following a recent report that cast doubt over Huawei’s claim that it is wholly owned by its employees, the Shenzhen-headquartered tech giant called a press conference on Thursday aimed at clearing the air. During that briefing, Huawei reiterated that it is fully owned by its employees, describing, once again, its intricate corporate structure. The company, however, produced little new information that could put the ownership issue to bed once and for all and didn’t fully address questions about who effectively controls Huawei.

Huawei’s stance on ownership spurs further doubts about company control

Beyond 5G: Huawei’s Links To Xinjiang And China’s Surveillance State
China’s national security strategy says that “all citizens of the People’s Republic of China, state authorities, armed forces, political parties, people’s groups, enterprises, public institutions, and other social organizations shall have the responsibility and obligation to maintain national security.”
www.forbes.com

JD.com planning underground logistics network in Xiong’an
JD Logistics, the logistics unit of Chinese e-commerce giant JD.com, disclosed on Thursday that its underground logistics project in Xiong’an New Area is in the structure planning stage. The program was commissioned by the government of Xiong’an, a state-level new economic zone in China’s northern Hebei province. The system as planned will connect buildings and underground pipelines in order to deliver parcels to pick-up centers, which are assigned to customers. In real application scenarios, express parcels may be sent directly from the underground logistics channel to user doorsteps.

Briefing: JD.com planning underground logistics network in Xiong’an

Electricity in China isn’t cheap anymore
China has many businesses that have captive power plants and so don’t have to buy from the independent power producers [IPP] such as those listed above. But just as clearly lots of businesses do have to pay those prices.

Electricity in China isn’t cheap anymore

China’s Major Electric Car Maker NIO Faces PR and Legal Trouble
NIO is one of China’s largest electric car manufacturers and a main competitor of the U.S.-based Tesla. While it faces scrutiny within China, the company is also in legal trouble stateside. It currently faces several lawsuits filed by its U.S. shareholders. According to the lawsuit documents filed in March, NIO and its management team allegedly made false and misleading statements regarding its sales forecast and production plans, which caused the shareholders to mis-estimate NIO’s performance and lose out on their investments.
www.theepochtimes.com

Didi announces partnership with UC Berkeley’s DeepDrive initiative
At a conference on Thursday, car-hailing titan Didi announced that it had formed a strategic partnership with Berkeley DeepDrive (BDD) Industry Consortium, an initiative hosted at the University of California, Berkeley. Through industry-academic linkups, BDD conducts research in the fields of computer vision and machine learning. According to Didi, the partnership will involve research and applications in the field of smart vehicles, training, and academic exchange. BDD has already partnered with Tencent, Huawei, Baidu, and Meituan-Dianping in addition to international auto brands.

Briefing: Didi announces partnership with UC Berkeley’s DeepDrive initiative

Fashion outlet Forever 21 shuts online stores in China
The move came after it terminated operations in Taiwan after nearly four years of operation
www.asiatimes.com

China’s New Foreign Investment Law Benefits: Like Putting Lipstick on a Pig
The core concept of China’s new Foreign Investment Law is that of national treatment. Under this principle, foreign investors will be treated the same as Chinese investors. WFOEs and Sino Foreign Equity Joint Ventures will disappea

China’s New Foreign Investment Law Benefits: Like Putting Lipstick on a Pig

China defiant on US Iran oil decision
China’s defiance is likely to complicate matters at a time Beijing and Washington are in discussions to ease trade tensions. “Iran sanctions are going to be a big challenge for the US-Chinese relationship,” Jason Bordoff, the director of Columbia University’s Center on Global Energy Policy and a former energy adviser to President Barack Obama, told the New York Times. Bordoff said if Chinese imports do not drop quickly, the US sanctions could be applied to Beijing’s central bank, the People’s Bank of China
www.firstpost.com

Map of China in CIA’s first post on Instagram ‘spy recruitment’ account
Photo also includes wig, foreign banknotes, a burn bag for getting rid of secret documents, a notebook with Arabic writing and other spy ‘souvenirs’
www.scmp.com

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Alain Gillard
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