China Press Review – June 7, 2019

Press review

Donald Trump ‘probably planning’ for tariffs on all Chinese goods after G20
US president’s move, if implemented, would dramatically escalate his months-long trade war with Beijing Decision on goods not already subject to 25 per cent taxes would occur ‘over the next two weeks, probably right after the G20’, he says

China has tools to handle trade war: central bank chief
China’s central bank chief said Friday the country has plenty of policy tools left to handle the trade war with the United States. There is “tremendous” room to counter the deepening trade war, People’s Bank of China governor Yi Gang said in an interview with Bloomberg TV.

China ridicules US basis for tariffs, saying ‘real’ trade imbalance is only a third of what Donald Trump claims
Commerce Ministry report shows trade deficit between the world’s two largest economies just 37 per cent of the figure published by the US government China and the United States are set to send delegations to a meeting of G20 trade ministers later this week in Japan

Russia and China sign deals worth US$20 billion as Xi Jinping and Vladimir Putin’s growing friendship bears fruit
Agreements to boost cooperation in spheres such as energy and technology highlight closer partnership in face of tensions with US

Russia and China are key and close partners
The essence of the Sino-Russian relationship can be summarised thus: Russia and China will never be against each other, but they will not necessarily always be with each other

Russia keen to sell yuan bonds to deepen ties with China and further reduce US dollar dependence
China and Russia seek to further strengthen ties amid escalating tensions with the United States after Xi Jinping and Vladimir Putin upgrade relationship this week
At St Petersburg International Economics Forum, Russian bank claims there would be strong demand for yuan bonds

China has options if trade war worsens: Central bank chief
People’s Bank of China Governor Yi Gang says interest rates and commercial bank reserves could be adjusted if needed.

China wants to pressure the US economy, but the finance sector is probably safe from Beijing
Technology, rare earth minerals and the education sector have been dragged into the scuffle between China and the U.S., but as Beijing considers more countermeasures, experts say that America’s financial sector is unlikely to be a target. There’s just too much at stake for China in that area, they say, pointing to an ongoing drive in the country to open up its financial sector to global investors. If the financial sector were to be targeted, one casualty could be the global clout of the Chinese yuan.

Premier Li calls for more efforts to revitalize NE China
China will unveil more measures to accelerate the revitalization of the old industrial bases in the northeastern region, Premier Li Keqiang said Thursday. , Li, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks at a meeting of the leading group for revitalizing the region. Li also heads the leading group.

Google warns Washington that Huawei trade ban risks compromising US security: report
The American tech giant said the US ban may prompt Huawei to build an Android alternative that is more vulnerable to hacking

Facebook suspends app pre-installs on new Huawei phones as US trade blacklist effects begin to ripple
Move is latest blow for Huawei after US move to impose trade blacklist Customers who already have Huawei phones will still be able to use its apps and receive updates

China unveils 5G and NEV spending action plan to boost consumption to cushion US trade war impact
Plan would aim to boost the sales of cars, home appliances and consumer electronics including 5G smartphones after sharp drop in retail sales in April Restrictions on car registrations would also be relaxed after sales dropped 14.6 per cent in April from a year earlier

The Italian Agency That Brings Luxury To and From China
“We give space to Chinese talents in our fashion calendar and bring Italian designers to the Chinese runways,” says Capasa. An example of the latter was CNMI’s selection of Vivetta Ponti, the CEO and head designer of Vivetta, to present her collection at the 2017 Mercedes-Benz Fashion Week in Beijing. Different from the usual sexy Italian styles, Vivetta brought sweet and playful designs that reference the memories of girlhood and immediately won the hearts of well-known Chinese actresses like Liu Shishi and Zhou Dongyu. But CNMI doesn’t just work within the largest Chinese cities — their strategy runs much deeper than that.

The Italian Agency That Brings Luxury To and From China

Guangdong’s move to ease limits, boost China’s car sales met with scepticism by analysts and residents
Guangzhou’s quota will be increased by 100,000 and Shenzhen’s by 80,000, but move ‘will serve as short-term stimulus’ in efforts to offset US-China trade war Move follows stimulus plan by National Development and Reform Commission to bolster demand for cars and electronics

Could seizure of Baoshang Bank lead to consolidation among China’s smaller banks with assets worth US$9.9 trillion?
Beijing is under pressure to boost bank lending to help cushion impact from higher US tariffs on Chinese imports At least 18 smaller institutions have not published up-to-date financial reports

US-China trade war talks collapsed due to ‘culture gap’ in understanding of law, professor says
Chen Zhiwu, director of the Asia Global Institute in Hong Kong, offers fresh perspective to understand how Chinese and American officials failed to reach a deal Chinese team, led by Vice-Premier Liu He, is largely made up of economists, while the US team is led by experienced lawyer Robert Lighthizer

The Promise and Peril of the Digital Silk Road
China’s growing digital presence in North Africa presents opportunities for growth. Without oversight, it could also lead to greater censorship and surveillance, as well as harm local tech companies.

Oil is just the start of China’s belt and road interest in the Gulf
Part of the reason for Beijing’s presence in the region is the pressing need to resolve its overcapacity problem, such as in the steel and concrete industries More than this, the belt and road strategy is also seeking to facilitate the flow of trade and investment with the Gulf, writes Muhammad Zulfikar Rakhmat

Why China struggles to win friends and make itself heard
Beijing has to reconcile the competing needs to appear tough to the Chinese public and conciliatory to an international audience China feels US has long had the advantage in shaping global opinion but it now needs to make itself heard

Russia ready to fill China’s food gap left by US in trade war fallout
As African swine fever devastates local industry, China has been turning to other sources of protein Russian meat producer looks forward to adding pork and soybeans to its poultry exports to China

Dispute resolution along the Belt and Road
The prospect of disputes arising in respect of projects under China’s Belt and Road Initiative (BRI) has generated considerable interest, accompanied by positioning on the part of governments, government institutions, lawyers and academics who see potential opportunities. The BRI is, of course, a very amorphous concept. Although primarily associated with infrastructure construction, which tends to involve large Chinese companies and Chinese funding, projects along the Belt and Road also involve governments other than the Chinese government and don’t necessarily include Chinese parties.

Dispute resolution along the Belt and Road

Mahathir is not bowing to China on Huawei. He’s standing up to US bully: Malaysian minister
The land of the free has its own track record for espionage – just ask Facebook, Cambridge Analytica or the National Security Agency The days of developing countries pandering to Western powers are ebbing away and Malaysia is at the vanguard

Lenovo branded ‘unpatriotic’ by Chinese consumers in nationalistic backlash
Quiet name change on Chinese social media revives accusations about technology company’s loyalties

China’s Energy Markets Feel The Squeeze
Beijing is an adrenaline rush, each visit a chance to be dazzled by this 21st-century city as it’s being built before your very eyes. The stellar economic growth this past decade isn’t just visible, it’s palpable.

China Can’t Wean Itself Off Overseas Coal
Even as China has slashed its domestic carbon emissions faster than other countries, the absence of a strategy to divest from coal projects abroad and the lack of a clear definition on what constitutes green finance threaten to undercut its contribution in fighting the global climate crisis.

How China Is Improving Coal Technology
In China, though specific achievements are hard to pinpoint owing in part to a dearth of public or internationally available information, coal technology developments appear to be advancing more rapidly than anywhere in the world.

How China Is Improving Coal Technology

Ford launches its first purely electric SUV in China
New Territory EV offers motorists nearly 400km of range on a single charge

Mahathir is not bowing to China on Huawei. He’s standing up to US bully: Malaysian minister
The land of the free has its own track record for espionage – just ask Facebook, Cambridge Analytica or the National Security Agency The days of developing countries pandering to Western powers are ebbing away and Malaysia is at the vanguard

Meng Wanzhou faces January extradition hearing as lawyers brace for two-year fight amid ongoing Huawei trade war drama
Canadian judge sets formal extradition case to begin on January 20, 2020, hearings expected to run until at least October 2020 Any ruling on Meng’s extradition to the US to face fraud charges related to Huawei’s alleged breach of Iran sanctions would come later

China’s corruption watchdog investigates Gu Guoming, head of ICBC’s Shanghai branch

Gu Guoming, chief governor of the branch, is regarded as one of the most powerful figures in Shanghai’s financial sector It is the second scandal involving the world’s biggest lender by assets in the space of two months

How Our China Trade War Could Become a War War
D-Day’s anniversary carries lessons for the future.

China social media: WeChat and the Surveillance State
China’s WeChat is a site for social interaction, a form of currency, a dating app, a tool for sporting teams and deliverer of news: Twitter, Facebook, Googlemaps, Tinder and Apple Pay all rolled into one. But it is also an ever more powerful weapon of social control for the Chinese government

China’s ‘artificial sun’ project just got a whole lot hotter, scientists say
New facility in Sichuan province will enable researchers to recreate the ‘extreme environments’ necessary to harness nuclear fusion Plasma-generating machine capable of producing temperatures 13 times as hot as the sun

Alain Gillard
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