China Press Review – July 3, 2018

Press review

Are these Chinese export numbers an olive branch in the countdown to a trade war with the US?
China releases some export data early, showing a fall in shipments to the United States
www.scmp.com

China expected to cancel 1.1 million tonnes of soybeans from the US as new tariff bites
Shipments will be cancelled or resold as extra duty means buyers will be unable to make a profit, industry insider says
www.scmp.com

Time for a reality check for China’s wishful US trade war thinkers, Chinese professor warns
China has risen within the US dollar system but also been weakened by it, academic says
www.scmp.com

Why Donald Trump should blame the strong US dollar, not China, for its trade deficit
Neal Kimberley says given the role of the strong US dollar owing to its status as the primary reserve currency, tariffs will not help reduce the trade deficit and may backfire
www.scmp.com

Yuan bounces back to end longest losing streak, after People’s Bank of China says it will support currency
The yuan endured a roller-coaster ride on Tuesday, bouncing back sharply in the afternoon from a 11-month low in the morning, after the People’s Bank of China issued a statement during the lunch break in trading, saying it would support the currency.
www.scmp.com

China Won’t Weaponize the Yuan in Trade War, PBOC Official Says
Top Chinese central bank officials on Tuesday vowed to keep the nation’s currency stable, helping to reverse declines, and pledged that yuan devaluation won’t be used as a weapon in the trade conflict with the U.S.
www.bloomberg.com

Beijing softens tone on debt crackdown as trade tensions threaten growth
Beijing has signalled a softer stance in its campaign to cut debt from the economy, removing a key statement of intent from a monetary policy document.
www.scmp.com

If Donald Trump is the new George Soros, history shows confidence is China’s best weapon in a trade war
Jiaxuan Lu says China should be boosting market sentiment amid the trade dispute, rather than dampening it with moves that signal to investors that it’s time to panic
www.scmp.com

How Trump Should Think About China
As China’s example shows, a country needs to invest in its future prosperity. Tariffs and tax cuts are no way to get there.

How Trump Should Think About China

China’s state media says markets are being ‘irrational,’ calls for calm amid trade frictions
The recent sell-off in Chinese stock markets is an “irrational overreaction,” according to the country’s state newspapers such as Securities Daily and Economic Daily. Shares in the world’s second-largest economy have entered bear territory on escalating trade tensions between China and the U.S.
www.cnbc.com

Carbon emissions might have peaked in China, study finds
Fall in CO2 output between 2014 and 2016 came after economic shift towards hi-tech sectors, researchers say
www.scmp.com

China carbon emissions in retreat after ‘structural break’ in economy
China’s carbon dioxide (CO2) emissions fell from 2014 to 2016 and might already have peaked, according to a study published on Monday, with structural economic changes allowing Beijing to meet targets earlier than expected.
www.nasdaq.com

UCB Announces Approval of NEUPRO® in China to Treat Parkinson’s Disease
NEUPRO now approved in China for the treatment of the signs and symptoms of early-stage idiopathic Parkinson’s Disease as monotherapy (i.e. without levodopa) or in combination with levodopa NEUPRO approval in China reinforces UCB’s ongoing commitment to supporting patient value across China and to offering Chinese patients additional treatment choice to help manage their disease
www.prnewswire.co.uk/news-releases/ucb-announces-approval-of-neupro-in-china-to-treat-parkinsons-disease-687128661.html

Alibaba debuts ‘AI copywriter’
Alibaba’s digital marketing arm Alimama has unveiled an artificial intelligence-powered copywriting tool.
www.alizila.com

Xiaomi IPO Falls Short Of Hype
Billed as potentially the biggest IPO since Alibaba, Xiaomi’s IPO comes up short.
www.gfmag.com

Tencent, Alibaba And Vanke Co-lead $1.5B Series A Round In China Media Capital
China Media Capital (CMC) Inc., a media and entertainment company, has raised a RMB10 billion (US$1.49 billion) series A round led by Chinese real estate developer Vanke, and existing investors Chinese tech giants Alibaba Group Holding Ltd., and Tencent Holdings Ltd.

Tencent, Alibaba And Vanke Co-lead $1.5B Series A Round In China Media Capital

Trump administration moves against China Mobile entering US market, citing national security risks
A branch of the US Commerce Department said the Federal Communications Commission should deny China Mobile’s application submitted in 2011
www.scmp.com

Shoppers in China’s heartland towns have given rise to a new e-commerce giant
For the past several months, the most-downloaded shopping app for the iPhone in China hasn’t been Alibaba’s Taobao or Tmall. Nor has it been from JD.com, the e-commerce giant known for lightning-fast deliveries.

China’s heartland towns have given rise to a new e-commerce giant

Arnault: LVMH to Open Design Houses, Roll Out the Red Carpet for Chinese Guests
From its modest beginnings in the construction industry, Antoine Arnault’s father Bernard Arnault has built LVMH into the world’s largest luxury empire. However, the group that owns Louis Vuitton, Christian Dior and dozens of other prestigious brands can be perceived as a distant giant. As a representative of the giant’s younger generation, Antoine, recently appointed to lead ‪global communication for LVMH, feels responsible to change that dated perception. Sitting down with Jing Daily at a recent interview in Paris, he noted: “When I visit workshops, I am always touched by the genuine passion, vibrant energy and a strong sense of belonging and pride of our artisans. They are truly the soul of LVMH.”

Arnault: LVMH to Open Design Houses, Roll Out the Red Carpet for Chinese Guests

Is China’s ‘city of the future’ a replicable model?
The success of Xiong’an’s ambitious green experiment seems guaranteed, but its strength may make it hard to emulate. What does China’s “City of the Future” look like?
www.eco-business.com

Beijing’s Minimum Wage to Rise September 1
Beijing will increase the monthly minimum wage from RMB 2,000 (US$300.57) to RMB 2,120 (US$318.60), and the hourly minimum wage from RMB 22 (US$3.31) to RMB 24 (US$3.61).

Beijing’s Minimum Wage to Rise September 1

All aboard China’s propaganda express for Xi Jinping’s ‘New Era’
Chinese city gets rolling with a subway train decked out in presidential slogans as ideology permeates all aspects of life
www.scmp.com

US ‘so scared’ of China’s progress? Communist Party mouthpiece doesn’t think so
People’s Daily the latest to warn against exaggerated and unsubstantiated claims about achievements, saying ‘arrogance won’t make a country powerful’
www.scmp.com

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Alain Gillard
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