China Press Review – January 14, 2020

Press review

Global trade is likely to improve in 2020 as US, China prepare to sign phase one deal, business leaders say
Increasing clarity about relationship between US and China should help foster global trade this year, Li & Fung chairman says     Trade war has led to a rewiring of global supply chains

China’s imports from the US fell by a fifth in 2019, as trade war stripped away demand
China’s imports from the US dropped to US$122.7 billion in 2019 amid an intensified trade war, China customs data released on Tuesday showed   China must engineer a significant rebound in imports to realise its promises to buy US$200 billion in additional US goods and services in phase one trade deal

The US-China “Phase One” Deal — No Text, No translation, What me Worry?
The United States and China are scheduled to have a grand signing ceremony on January 15 for the “Phase One” deal that is supposed to solve the U.S.-China trade war.  Though more than 200 guests have been invited to attend the ceremony, no one knows exactly what they will be signing because the text of the “Phase One” deal has not yet been released. Fox Business news reported that a U.S. trade source said the Phase One deal text will be posted on the website of the U.S. Trade Representative the “moment” the agreement is signed on Wednesday.

Why the phase one US-China trade deal should not be scoffed at – it’s about more than pork and soybeans
The deal will allow China to focus on its domestic economic agenda amid a growth slowdown, including opening doors to foreign firms to serve its growing middle class   Since the deal was announced, Federal Reserve policymakers have also issued more optimistic statements about US economic prospects

Trump administration drops labelling China as a currency manipulator
Administration drops charges as the two superpowers move closer to a trade deal

China’s Economy Will Slowly Stabilize, Says Triada’s Hsiao
Monica Hsiao, founder and chief investment officer at Triada Capital, discusses China’s economy, defaults and where she’s seeing opportunity. She speaks on “Bloomberg Markets: China Open

Addressing Risk in the Era of US-China “Great Power” Competition
Washington’s obsession with national security presents compliance and reputational risk to US companies in China, but they can protect against it.

US makes final plea for Boris Johnson government to block Huawei from UK’s 5G network
Britain is currently weighing whether to use Huawei equipment as part of its 5G infrastructure  Senior US officials reportedly handed Prime Minister Boris Johnson’s government a “dossier” of evidence against Huawei

Huawei restructures to focus on cloud computing, AI
Huawei announced last week changes to its organizational structure and management team, creating a fourth business group for its cloud computing and artificial intelligence (AI) divisions in a sign that the telecommunications giant is priming to ramp up its efforts in this sector.

Greater Bay Area to drive Hong Kong IPO market, with more integration attracting foreign and domestic fundraising
April 2018 IPO reforms will boost Hong Kong, vice-chairman of KPMG China and chairman of the stock exchange listing committee says   Anti-government protests will not hurt city’s fundraising credentials, panel hears

Should European Luxury Houses Focus on China More than the US?
Faced with the perspective of an ongoing trade war with the US, the EU should consider scaling down its operations there while recalibrating their efforts with China.

Nike Woos Chinese Customers With Spring Festival Ad
Many viewers in the country have applauded the American sportswear brand for showcasing the festival’s human side.

Internet giant Tencent’s US$107 billion rally has surprised even bullish analysts
Tencent has jumped 27 per cent since an October low, topping HK$405 on Monday for the first time since 2018

Six dead and four missing after sinkhole swallows bus in western China
Boy pushes child from danger before falling into hole, reports say    Authorities try to establish the identities of those killed when a section of busy road collapsed

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