China Press Review – June 6, 2018

Press review

Could China By $200 Billion More in US Goods?
Experts Are Skeptical The talks with China were all about reducing the US trade deficit with China by $200 billion. But experts say those numbers are not realistic because, among other reasons, the US economy is running near full capacity, and would not be able to produce enough new goods to meet Chinese demands. Even if the US could shift sales to China from other countries in a big way, a dubious proposition, the US trade deficit with the world would remain unchanged.

Could China Buy $200 Billion More in US Goods?

US Treasury Secretary Steven Mnuchin said to favour less sweeping investment curbs on China
Official’s deliberations on investment limits come as Washington and Beijing are locked in disputes over trade and China’s massive trading surplus with the US

China ‘offered to buy US$70 billion in American products to remove tariffs’
China has reportedly told the US it will buy agricultural and energy products, including soybeans, corn, natural gas, crude oil and coal – but if Donald Trump imposes tariffs, the deal is off

Tethered by the supply chain: US tech community resists Donald Trump’s China tariffs, fearing collateral damage
The Trump administration’s hard line on trade has shone a spotlight on just how much US tech suppliers depend on Chinese business

Foxconn chief says U.S.-China dispute is over tech, not trade
The CEO of Taiwan’s Foxconn, which assembles Apple iPhones and other products for tech companies, said Wednesday that Washington’s dispute with China is over technology rather than trade

Should the US pick winners in its hi-tech battle with China?
American tech companies are starting to urge their government to take a leaf out of the Chinese playbook, and steer hi-tech industry over the long run

ZTE signs US agreement in principle to pay US$1.4 billion to lift sanctions and go back into business
The deal includes a US$1 billion fine against ZTE plus US$400 million in escrow in the event of future violations, sources said; including the US$361 million already paid, the final total could be US1.4 billion

This is what Hong Kong retailers must do to maintain edge as China announces fifth round of import tariff cuts
Average duties on 1,449 imported products ranging from cosmetics to home appliances to be reduced from July 1

China’s debt-cutting efforts are sinking private companies, while debt-ridden state firms float on
Of the seven companies that experienced their first bond default this year, six were privately owned, ratings agency says Beijing should focus its debt-reduction efforts on state-owned firms and local governments, but the biggest loser to date of the deleveraging process has been the private sector, a Chinese ratings agency said on Tuesday.

China central bank injects net 203.5 billion yuan with hefty one-year MLF rollover
China’s central bank lent 463 billion yuan ($72.43 billion) to financial institutions on Wednesday via its 1-year medium-term lending facility (MLF), with interest rates unchanged, it said in a statement.

Will Australia die by the Chinese sword?
China is one of Australia’s major trading partners and that relationship has seen us through the GFC and other economic upheavals. But does that mean we are too dependent on China? And what could happen to us if China’s economy falters?

China’s Costly Ban on Foreign Trash
Recycled imports help manufacturers and the environment. What’s not to like?

Cainiao-led group to build HK logistics hub
Cainiao Network said Wednesday it’s leading a group that will invest $1.5 billion to build a logistics center at Hong Kong International Airport. Alibaba Group’s logistics arm will lead the project via its joint venture with China National Aviation Corp. (Group) Ltd. and YTO Express. The companies hold respective 51%, 35% and 14% stakes in the JV.

Taobao maker festival to put millenial spin on Chinese history
Taobao, China’s largest online marketplace, on Wednesday said the upcoming Taobao Maker Festival will be the biggest yet, spotlighting hundreds of young entrepreneurs on the platform.

Is a boardroom spat brewing at China Logistics, amid the jostling for foothold in e-shopping boom?
Several China Logistics executives have said that ESR’s entreaty for a boardroom seat is ‘not an option’ because they compete for the same customers

Alibaba Cloud offers access to SAP software for c ALIBABA CLOUD OFFERS ACCESS TO SAP SOFTWARE FOR CUSTOMERSustomers
Alibaba Cloud is offering a number of options for customers to run applications from German enterprise-software maker SAP, the cloud-computing arm of Chinese technology giant Alibaba Group said Tuesday.

Alibaba affiliate Cainiao forms JV to build US$1.5 billion logistics centre at Hong Kong Airport
The investment forms part of Alibaba’s commitment to invest over 100 billion yuan in a global logistics network

Facebook’s Data-Sharing Program for Phone Makers Included Chinese Telecom Giant Huawei
This weekend, news broke in the New York Times that Facebook’s habit of giving extensive user data to third parties extended to “at least 60 device makers” who were granted access to private Facebook APIs over the past decade. The social media giant has been trying to quash the story by insisting developers were only allowed to use the data to provide “the Facebook experience” before the market dominance of Android and Apple made it less necessary for manufacturers to build in custom functionality, but a new development may have just made it a lot harder to sweep under the rug.

Hong Kong’s digital spending to surge to US$5.8b by 2022 as consumers turn to mobile media

Revenue generated from digital sources in Hong Kong such as over the top streaming video and internet advertising, surpassed offline sources for the first time last year, and is forecast to reach US$5.8 billion by 2022, as consumers increasingly use mobile devices to watch streaming videos and read news, according to a PwC study.

China smashes gangs suspected of US$750 million scrap-steel export scam
Hundreds detained in clampdown on non-payment of taxes meant to encourage use of scrap in domestic industry

Fate of US$1.8bn Chinese dam project up in the air after Nepal ministers send mixed signals
Uncertainty deepens over US$1.8bn Belt and Road scheme after Nepalese energy minister appears to contradict colleague over whether deal to build it will be scrapped

What Brands Need to Know About WeChat’s Latest Update
Despite being one of China’s most beloved apps, WeChat admittedly has quite a few design flaws which cause frustration both for regular users and those running official accounts. Recently, however, Tencent is slowly starting to make some improvements. The newest WeChat update for iOS devices, iOS version 6.6.7, introduced several significant changes, possibly the most important being the ability to minimize a WeChat article in a floating window, correcting a functionality issue WeChat has had since its inception. On top of that, WeChat has finally launched an app and a mini-program for official account management, something that account managers have been waiting a long time for.

What Brands Need to Know About WeChat’s Latest Update

China battles plastic pollution

A notice with prices for plastic bags — 1.4 to 2 yuan (about 20 to 30 U.S. cents) — is posted beside the cashier. The prices are almost 10 times the usual in an attempt to remind shoppers of using fewer plastic bags.

Chinese Characters in Fashion Design: Culture Appropriation or Appreciation?

For luxury brands hoping to incorporate Chinese characters into their designs, its vital to be cautious about the message being sent out. Foreign brands need to learn the balance between relating to this rebellious crowd, and being politically and culturally sensitive.

Chinese Characters in Fashion Design: Cultural Appropriation or Appreciation?

China’s Generation Z gaokao candidates shrug off college entrance exam’s reputation for making or breaking futures

China’s gaokao exam season moves into a new era as students born in the 21st century take the rigid national college entrance examinations for the first time

Tencent’s Ma unveils WeChat travel plan for China, Greater Bay Area
Innovation would seek to smooth travel between mainland China, Hong Kong and Macau, which currently requires special permits

China-US ties strained by Washington’s mixed signals over Taiwan, but Mattis trip still on
Pentagon chief expected to visit Beijing despite criticising China at Shangri-La Dialogue in Singapore

The Yangtze River Delta Integration Plan

Shanghai is usually considered China’s most international and economically significant city. In 2017, it had a gross domestic product (GDP) of RMB 3.01 trillion (US$475 billion) – the highest of all cities in China. The Yangtze River Delta, which centers around Shanghai, is an important international gateway and one of the major engines of China’s economy.

The Yangtze River Delta Integration Plan

To avoid Bejing’s ire, Donald Trump won’t send high-level officials to opening of de facto embassy in Taiwan
American Institute in Taiwan, unofficial US embassy in Taipei, opens new offices on June 12, but Trump administration representatives will stay away, sources said

The 2018 Shangri-La Dialogue: Probing the ‘Indo-Pacific’ and Deterring the Fait Accompli

Familiar themes and new anxieties were apparent at Asia’s premier security dialogue in 2018.

China shopping mall sets up lane for pedestrians glued to their mobile phones

Walkway several hundred metres long built outside retail outlet in Xian

Pay gap: Hong Kong women earn more than men before 20 but only half when they turn 60
A study by human resources consultancy Willis Towers Watson shows that the use of technology could help reverse that trend, allowing women to hold on to their jobs for longer

23 miners rescued after 11 killed in China pit blast
Two still missing after explosion at iron ore mine in Liaoning province

Chinese woman jokes she’d marry to save sick sister, donations pour in

Cui Qiao set out to raise US$78,000 for her 14-year-old sister’s leukemia treatment, but has managed to pull together US$125,000

Alain Gillard
Information Officer
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