China Press Review – January 22, 2020

Press review

No Date For Phase-Two Talks With U.S., Says China Trade Team Member
The U.S. and China haven’t set a timetable for the next phase of their trade negotiations, according to an official directly involved in the talks. The focus for now is on implementing the phase-one deal, Ning Jizhe said Tuesday on the sidelines of the World Economic Forum in Davos. Ning is the deputy head of China’s top economic planner, the National Development and Reform Commission, and also runs the statistics bureau.

China’s US trade war deal is ‘is good for the world’ and‘will not impact’ imports from other countries
Vice-Premier Han Zheng told the World Economic Forum that commitments to buy more from the US are in line with World Trade Organisation (WTO) rules The phase one deal signed last week with US President Donald Trump will see China buy an additional US$200 billion of goods and services over the next two years

U.S. and China Sign “Phase One” Trade Deal but Leave Key Issues Unresolved
The agreement acts as a cease-fire in a trade war that has lasted for more than 18 months. While markets rose on news of the agreement, many in the American business community have pointed out that economic tensions between the two sides are far from over. Many of the thorniest issues separating the two sides—Chinese economic espionage, subsidies from the Chinese government, and the outsize role of state-owned enterprises in the economy—remain unresolved.

Many of China’s provinces cut 2020 GDP growth targets despite easing trade tension
About two-thirds of China’s provinces, regions and municipalities have cut their 2020 growth targets from last year, despite easing trade tensions with the United States.

Beast Mode: China’s GDP Is Going To Double
Yes, the trade war is a headwind for China businesses, with nearly 60% of business leaders in one survey saying it’s a negative for them. That won’t stop the Chinese economy from doubling this year from where it was in 2010. That’s “mission accomplished” for Beijing. For investors, China still looks to be in beast mode. Ten years ago, China promised to double its GDP. It’s going to do that this year. Meeting its growth plans by 2020 is no longer a concern for them. With that out of the way, “Beijing can shift its efforts to better balance the pace and quality of growth,” Lu says.

Will China integrate or pullback from the global economy in the next decade?
China is facing two paths as the new decade unfolds – either integrate or isolate themselves. Yahoo Finance’s Julei Hyman, Adam Shapiro, Akiko Fujita, Jim Awad of Clearstead Advisors and Paul Gruenwald S&P Global Ratings Chief Economist discuss what to watch in the decade ahead.

Quality of China’s economic growth further improves
The quality of China’s economic growth further improved last year, as the industrial structure continued to upgrade with high-technology manufacturing industries being a strong driver, the nation’s top industry regulator said on Monday. China’s industrial output rose 5.7 percent year-on-year last year, hitting its annual growth target range of 5.5 to 6 percent. It showed that China has stabilized the economic fundamentals against growth pressure and external turbulence, said Miao Wei, minister of industry and information technology

What’s Missing in China’s Foreign Investment Law?
‘‘The law and its implementing regulation still lack implementation details on how to protect the legitimate rights and interests of foreign investors.’’

China’s e-commerce players look to ease coronavirus fears by freezing prices for masks, disinfectant
The moves by e-commerce operators come as the Wuhan coronavirus continues to spread and as Beijing orders transparency over outbreak

Huawei ‘withstood challenges’ after US blacklisting, says CEO
Ren Zhengfei said in Davos Donald Trump’s crackdown had little impact on Chinese firm

China’s AI start-ups are closing more funding deals, yet they’re still attracting less money than the US
AI start-ups in China are closing a larger share of funding deals worldwide, but their share of the amount raised has been declining since 2017 Their US counterparts still strike the most deals, although their share of the number of deals has been dropping

Close To 1.8 Million Plug-In Electric Cars Were Sold In China In 2019
In 2019, sales and market share increased in China, but not without a struggle. Plug-in electric car sales in China shrunk for the past six consecutive months, but the rate of decline at least has not increased.

Hundreds sick, several killed: Health leaders to decide whether coronavirus is global health crisis
With more than 450 cases in several countries and nine deaths, should the outbreak of a new coronavirus be declared a global health crisis? That’s what up for discussion at a World Health Organization emergency meeting in Geneva on Wednesday.

Hundreds sick, several killed: Health leaders to decide whether coronavirus is global health crisis

Chinese tech firms brace for impact from coronavirus
Chinese technology majors are scrambling to prepare for a public health crisis stemming from a deadly strain of coronavirus that is beginning to spread across the country ahead of a major holiday travel season.

Chinese tech firms brace for impact from coronavirus

Can Macau Replace Hong Kong as a High-end Shopping Destination?
Macau is well-positioned for future growth because of the Chinese government’s ambitious economic proposals. Macau’s history of shared colonial rule has led it to favor national policies, unlike Hong Kong. Nationalist Chinese shoppers prefer spending in Macau and want to punish Hong Kong for its defiance.

Can Macau Replace Hong Kong as a High-end Shopping Destination?

Will the trade shifts sparked by the US-China phase-one deal make the dollar weaker, as Donald Trump wishes? Maybe
As China buys more US goods, possibly at the expense of trade partners in Europe, Japan and Australia, movements in currency markets will make winners of some An overall strengthening of the renminbi, as is likely, may in the end encourage US dollar strength vis-a-vis other currencies

The gap behind China’s e-commerce factories
This is the third part of a three-part series on e-commerce companies’ exploration and collaboration with the manufacturing industry. Read part 1 here and part 2 here. You can download the full eBook here. Compared with manufacturing, China’s internet companies know more about how to interact with consumers. E-commerce factories is an attempt to promote manufacturing from the consumer end.

Apple supplier eyeing Vietnam expansion despite trade deal: report
News that a Taiwanese supplier for Apple and Samsung with factories in China plans to set up new production facilities in Vietnam following a US-China “phase one” deal is a signal that the trade friction merely hastened the process of electronics manufacturers diversifying from China, according to an analyst.

Apple supplier eyeing Vietnam expansion despite trade deal: report

China Is the Emissions Behemoth. Can It Change Fast Enough?
China is the front line in the global battle against climate change. It’s the nation with the most people, where half of the world’s coal is burned to use more energy than any other country. China currently emits the most greenhouse gases, and there’s not yet a sign of reaching the peak. The rate of growth presages continued rising emissions.

China looks to robots, big data to drive agriculture forward
A XAG drone sprays pesticides on a lemon farm in Guangzhou. (Image credit: TechNode/ Shi Jiayi)
China wants robots and big data to drive the rural revival, according to a digital agriculture plan released Monday The Xi Jinping leadership has vowed to bridge China’s urban-rural gap, which dates back to the Mao era. It has settled on digital agriculture as the answer.

China looks to robots, big data to drive agriculture forward

Chinese driverless buses to hit European streets for first time
The small city of Trikala, Greece offers some quintessential provincial scenes: bustling farmers’ markets with vibrant colors and old men with bushy mustaches chatting on park benches Chinese state-owned vehicle manufacturer Weichai will provide the driverless buses which will operate for at least two years. This is the first time that China-made driverless vehicles will hit the roads in Europe.

Chinese driverless buses to hit European streets for first time

China is running the world’s largest tourism deficit. How can it plug the gap?
Chinese tourist traffic to the world is growing but not the other way round. To decrease its deficit in trade in services and improve the world’s understanding of the nation, China must develop new ways to enhance visitors’ experiences

Six countries form digital currency group to compete with China
The central banks for Canada, Japan, Sweden, Switzerland, the EU, and the UK have created a working group to explore central bank digital currency (CBDC) applications, entering a race with China, which recently ramped up it own efforts after five years of research. The global rivalry in digital currencies is heating up as central banks from an increasingly wider swath of countries explore potential use cases for tokenized money.

Six countries form digital currency group to compete with China

The Chinese blockchain startup taking on scalability
Conflux Technology has been making a lot of noise in the blockchain space because it is tackling one of the bottlenecks associated with the nascent technology—scalability. The one-year-old startup wants to flip the traditional blockchain protocols. Starting as a research project in late 2017, Conflux is the brainchild of Turing Award recipient Andre Yao, known a China’s “godfather of computer science.” Massachusetts Institute of Technology PhD Long Fan joined him as co-founder.

The Chinese blockchain startup taking on scalability

China’s 2019 Trademark Law Amendment: What’s New
The latest amendment to China’s Trademark Law took effective November 1, 2019, and the regulatory guidelines to implement the law came into effect December 1, 2019. The 2019 Trademark Law is expected to strengthen the country’s trademark protections, aggressively targeting bad faith trademark applications and increasing the punitive consequences for trademark infringement.

China’s secrecy on nuclear arms a ‘threat to stability’, US says, urging Beijing to join talks with Russia
‘We can’t afford to wait,’ US disarmament ambassador adds, citing estimate that China’s nuclear stockpile is expected to double over next 10 years Washington and Moscow discussed potential trilateral discussions last week and have reached ‘understanding’ about pursuing them

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