China Press Review – January 29, 2020

Press review

No way.’ Ex-Sinopec boss warns Chinese firms will shy away from buying abroad as executives stay cautious amid trade war
National security, trade war could continue to weigh on Chinese activity in the United States and Europe, say deal makers     ‘Direct investment would not be considered by a Chinese company overseas in the sensitive areas,’ says former Sinopec chair Fu Chengyu

EU stops short of recommending ban on China’s Huawei
The European Union unveiled security guidelines for next generation high-speed wireless networks that stop short of banning Huawei, in the latest setback for the U.S. campaign against the Chinese tech company.    The EU’s executive Commission on Wednesday outlined a set of strategic and technical measures aimed at reducing cybersecurity risks from fifth-generation, or 5G, mobile networks. The recommendations include blocking high-risk equipment suppliers from “critical and sensitive” parts of the network, including the core, which keeps track of data and authenticates smartphones on the network.

UK Huawei 5G decision: will there be blowback from ‘disappointed’ ally US?
Prime Minister Boris Johnson has been touting prospects of a big trade deal US after Brexit    But UK decision over Huawei’s role in 5G network could complicate ‘special relationship’

8 Strategic segments of China’s online consumers
The e-commerce channel, growing at an annual rate of 35%, is now the primary growth engine for China’s FMCG market, according to a report of consulting firm Bain. It has achieved high levels of penetration and become a core sales channel in subcategories.

Nostalgia Marketing. Why it works in China?
As China’s millennials feel the effects of an uncertain future, marketers are tapping into nostalgia-driven marketing campaigns to resonate with them

pdf The road ahead for e-mobility
How OEMs can win consumers and achieve mass-market EV adoption About 80 percent of consumers in China considered an EV when making their most recent vehicle purchase, and variation by age and region was relatively low, i.e., 67 to 85 percent (Exhibit 8). The share of consumers who considered an EV purchase was only slightly higher both in larger cities and among younger segments.

China Tackles Its Plastic Problem
Ambitious new reforms seek to cut down on China’s plastic addiction.

Editorial: China leading in plastic waste fight
this month, China announced what is perhaps the boldest action of all: It will stop the production and sale of all single-use plastic bags and straws and other utensils in major cities by the end of the year, and then work to cut all disposable plastic by 2025, except for bioplastic that can be composted. Even if the country doesn’t reach its goal of zero plastic (a heavy lift even for an authoritarian regime), getting even halfway there would be remarkable. China is the world’s largest generator of single-use plastic waste. We hope that, as part of the effort, the Chinese government will also build the infrastructure for industrial composting of bioplastics. Otherwise, the country will simply be trading one trash problem for another.

China first quarter growth may dip below 5% as virus spreads: government economist
China’s economic growth may drop to 5% or even lower due to the coronavirus outbreak, possibly pushing policymakers into introduce more stimulus measures, a government economist said in remarks published on Wednesday.

Coronavirus: Appeal launched for protective gear for China
Cainiao, the logistical branch of Chinese e-trade giant Alibaba, has launched an appeal for donations of protective equipment for hospitals in Hubei, the Chinese province worst affected by the Coronavirus.    Wallonie-Bruxelles International (WBI), Wallonie-Belgique Tourisme, Wallonia’s export and foreign investment agency, AWEX, and Liège Airport, where Cainiao operates flights to China, have now decided to relay the appeal, made at the weekend.
For more information, please contact Awex : Prescillia TANG +32.472.80.35.88

China coronavirus could hit Beijing’s ability to meet US trade war deal import demands
Coronavirus originating in Wuhan has sent agriculture commodity prices tumbling and led to extended shutdown of Chinese factories and markets    Many analysts, already sceptical about China’s ability to buy US$200 billion of US goods in next two years, say impact of virus could cause further problems

Coronavirus: China’s infections outnumber its Sars cases as Russia joins vaccine race
840 new cases in Hubei province, where the outbreak was discovered, while Germany and Vietnam have patients who had contact with people linked to Wuhan   British Airways suspends all flights to and from mainland China with immediate effect

Coronavirus: Australian scientists first to recreate virus outside China
Scientists in Australia have become the first to recreate the new coronavirus outside of China in what they have called a “significant breakthrough”.

Coronavirus outbreak may well depress the renminbi, dashing Donald Trump’s hopes of a weaker dollar
Despite Trump’s efforts to talk down the dollar, currency markets haven’t taken the bait. The coronavirus outbreak makes the case for renminbi appreciation less clear-cut and might also weaken the currencies of economies with close ties to China

CEO Tim Cook says Apple working to mitigate impact of China coronavirus
Cupertino, California-based Apple reported US$91.8 billion in revenue for the quarter ended December 28  The company is taking steps to make up for production shortages, particularly in Wuhan, where some of its suppliers are located

China coronavirus sends health care, e-commerce stocks soaring, while travel and retail firms take a hammering
Hong Kong’s benchmark Hang Seng Index slumped 2.8 per cent to 27,160 on Wednesday in its worst start to a Lunar New Year since 2016 Hang Seng closed on Wednesday 2.8 per cent lower at 27,160, in its worst Lunar New Year debut since 2016. “The Wuhan virus will cut down travelling in and out of mainland China for a while, which will hit retail, tourism and airlines stocks hard, while pharmaceutical and e-commerce players will benefit from the outbreak,”

Luxury Brands Take Action as Coronavirus Spreads
So far, there are over 13 brands and fashion groups that have made donations. The news of the coronavirus outbreak has cast an unexpected shadow over this Chinese New Year. And as Chinese shoppers alter their travel plans and stay at home to avoid infection, many luxury market players — including luxury groups, Chinese brands, and e-commerce companies — have decided to make generous contributions.

Coronavirus outbreak casts shadow over China’s top political meetings
Sichuan and Yunnan provinces have postponed their legislative and political advisory meetings    With no urgent business this year, the central government should consider doing the same, political scientist says

Leading Expert on Epidemic Outcomes, ‘Psychological Intervention’
Zhang Wenhong, the infectious disease expert tasked with managing Shanghai’s response to the novel coronavirus, spoke to Sixth Tone about the epidemic’s present state and possible future.

How China’s coronavirus crisis, like the Sars epidemic, was worsened by the Communist Party’s penchant for secrecy
The Chinese government’s early response to the coronavirus outbreak was to tightly control information, hampering containment efforts. Unfortunately, it is unlikely that the next time will be better

Starbucks and hotpot chain Haidilao close mainland China stores in response to Wuhan coronavirus outbreak
Starbucks to close more than half of its outlets in mainland China, expects outbreak to ‘materially affect’ results    Haidilao is closing all its mainland hotpot restaurants through Friday, while keeping its business-as-usual in Hong Kong

IKEA closes around 15 stores in China due to virus outbreak
Coronavirus updates: IKEA has said that it is temporarily closing half of its 30 stores in China due to the deadly coronavirus claiming as many as 132 lives on Wednesday

U.S. weighs ban on all flights from China over virus outbreak: report
Temporary suspension of flights said to be one option on the table

British Airways suspends all flights to mainland China over coronavirus outbreak
Numerous airlines have curbed flights to China amid worsening coronavirus outbreak    Decision comes after UK government warned against ‘all but essential’ travel to mainland China

Latest bombings are nothing but terrorism
Our budding terrorists are using popular support for sealing the border, a questionable and likely ineffective practice, to politicise the mainland epidemic and fan anti-Chinese prejudices

‘Made in China’: how Wuhan coronavirus spread anti-Chinese racism like a disease through Asia
Xenophobic chatter about Chinese eating habits is going viral on the internet  Such ignorance isn’t just unpalatable – in misdiagnosing the problem, it’s dangerous, too

Alain Gillard
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