China Press Review – March 15, 2018

Press review

Chinese economy posts impressive growth figures
China’s economy grew unexpectedly quickly in January and February thanks to a surge in overseas demand for Chinese goods, according to the latest data released by the National Bureau of Statistics. However, this surge in exports may not be sustained due to the rising trade tensions with the US, The Wall Street Journal reports.

Chinese economy posts impressive growth figures

China is ready for a trade war with the US — and it could hurt Americans
China is prepared for a trade war with the United States, but the U.S should consider the costs of starting one, an expert on U.S.-China relations said Thursday. Robert Ross, a professor of political science at Boston College, told CNBC: “The Chinese have made it clear: ‘You want a trade war? We’re prepared.’ And they are. Because of course they have a very large market and a very robust economy.”

Trade war fears weigh on markets as Trump’s new adviser blasts China – business live

Can China’s ‘firefighter’ Wang Qishan break the deadlock with US over trade?
‘Pragmatic’ former anti-graft tsar is expected to take on the vice-president job as Beijing looks to shift gear on diplomacy to cope with a more hawkish US

In Mike Pompeo, Donald Trump has the enabler for his multifaceted China policy
Ankit Panda writes that while Rex Tillerson’s State Department drifted away from the White House, the new secretary may boost diplomacy’s role in enacting Trump’s agenda

Larry Kudlow, new chief economic advisor to Trump, says China ‘has earned a tough response’
Larry Kudlow, the new director of the National Economic Council, issued harsh trade rhetoric against
China can expect the U.S. to take a tough stance when it comes to international trade, Larry Kudlow, the newly appointed director of the National Economic Council, said Wednesday. President Donald Trump named Kudlow to the position Wednesday to succeed Gary Cohn.

China to stick to development path different from the West
With its huge economy and deep-rooted history and culture, China will develop “in its own way,” said an expert on China-U.S. cultural exchanges. “It’s going to be something different (from the West’s development) and I think that can be very positive for the whole world,” said Shirley Young, chair of the U.S.-China Cultural Institute, in a recent interview with Xinhua. “It’s very hard for people who assume that you are just going to follow the way we think.”

Chinese economy picks up after pollution crackdown eases
China’s economy appears to have jumped out of the blocks in 2018 with industrial production rebounding after the easing of pollution controls imposed over the winter “heating season”.

Balancing act: Chip giant Qualcomm caught between Washington and Beijing
Qualcomm, which owns more 5G patents than any other company in the world, is a key supplier to the US government as well as to China’s vast telecommunications industry

China’s civil aviation regulator orders HNA-backed airlines to settle their fuel bills
The Civil Aviation Administration of China has asked HNA Group’s airline businesses to pay overdue bills, including amounts owed for jet fuel and airport fees, according to a person with direct knowledge of the matter.

Will ISO Standards Transform Compliance in China?
As China pushes forward with its national anti-corruption campaign, companies are considering standards released by the International Standards Organization (ISO) to improve anti-bribery and corporate compliance programs.

Will ISO Standards Transform Compliance in China?

China High-tech Zones: National Status for 12 Zones
The State Council, China’s cabinet, has elevated 12 high-tech zones to national high-tech development zone status.National-level high-tech zones concentrate high-tech industries in regional clusters and are popular investment destinations

High-tech Zones in China: National Status for 12 Zones

Shanghai expo is fair ground to test policies to spur domestic consumption, says expo veteran
E-commerce major NetEase plans US$791 million spending spree on consumer goods from the US, Europe and Japan during the inaugural China International Import Expo to be held in November

Wang Yang: the ‘down-to-earth liberal’ taking on China’s top advisory job
The former Guangdong Communist Party boss will need to draw on his wealth of experience at home and abroad to fulfil his new mission, analysts say

Will China’s high debt levels spark a financial crisis?
Multiple international organizations have expressed concerns about China’s ballooning debt levels and warned the Asian giant could face a full-blown financial crisis should there be no action to counter the problem.

China’s Bankers Are Most Upbeat on the Economy in 12 Years
China’s bankers are more confident in the economy than any time since 2006, even as more characterize monetary policy conditions as being tight, a central bank survey shows.

Commodities’ dilemma: Strong China demand or Trump-led fears? – Russell
The tug-of-war between fundamentals and sentiment appears to be getting stronger for many commodities as the market tries to reconcile factors such as robust demand numbers from China and increasingly worrying rhetoric and actions from the United States.

Smart speakers, other AI-enabled devices poised to become the Next Big Thing in China
Demand in China has the potential of growing rapidly on the back of the major internet companies’ ecosystem of services and as the nation’s online population further expands

Alibaba Cloud boots up first data center in Indonesia
Alibaba Cloud launched its first data center in Indonesia on Thursday, addressing a growing demand for reliable, scalable cloud services among small- to mid-sized enterprises (SMEs) in the country.

China Issues Largest Ever Fine Of $870M For Stock Market Manipulation
Shanghai-based Beijiadao Group, the parent of Beibadao (Xiamen) Logistics Group, was fined about RMB5.5 billion (US$870 million) for manipulating the shares of newly listed companies, the China Securities Regulatory Commission said in a media briefing in Beijing late Wednesday. The penalty amounted to roughly six times the RMB945 million the company gained from its actions.

China Issues Largest Ever Fine Of $870M For Stock Market Manipulation

China’s Overseas Expansion: An Introduction to its One Belt, One Road and BRICS Strategies
In fact, a closer examination of what the implementation of the policy has meant so far and what it might continue to entail suggests that OBOR poses serious threats to the environment and is likely to result in increased environmental degradation and pollution, along with natural resource depletion that may adversely impact on local populations along OBOR routes.

China and Europe can work together on the Belt and Road Initiative
In our world today, protectionism and isolationism are still taking a toll. China, with its 40 years of reform and opening-up, has made its stance clear: openness brings progress, while self-seclusion leaves one behind. We remain committed to partnering with our European friends in an open spirit. Let’s consult, contribute and share together to make a success of the Belt and Road Initiative.

China and Europe can work together on the Belt and Road Initiative

Germany’s skepticism of China unfounded
German Social Democrats’ vote on March 4 to renew a grand coalition with Chancellor Angela Merkel has ended months of uncertainty. In Berlin the next day, Merkel said in a statement that the government shall quickly start work. She listed ensuring open competition with China as one of her government’s priorities.

China Is Developing Ships To Cover The Globe Without Captains
China ranks as the world’s third largest marine shipping country with a chance to become the world’s most dominant one by 2030. Even as commodity shipments have slipped with the slowdown in Chinese economic growth, container traffic from China to Europe and the U.S. west coast were picking up in 2016, market research firm IHS itime & Trade says

Ant Financial Invests $185M In Pakistan’s Telenor Microfinance Bank
Alibaba’s financial affiliate Ant Financial Services Group has reached a strategic partnership with Norwegian telecommunications company Telenor Group to invest US$184.5 million for a 45% stake in Telenor Microfinance Bank (TMB), a microfinance bank in Pakistan and a subsidiary of Telenor Group.

Ant Financial Invests $185M In Parkistan’s Telenor Microfinance Bank

Economic Watch: China takes new steps in stock market reform
While fast-tracking listing approval for tech giant Foxconn Industrial Internet, the Chinese securities regulator is also showing the door to underperforming companies, with tougher delisting rules

China’s ‘war against pollution’ shows promising results, study finds
As China marks its four-year anniversary of declaring “war against pollution,” a new analysis using data from more than 200 government monitors throughout the country finds air pollution has decreased across the board in China’s most populated areas. Cities on average have cut concentrations of fine particulates—widely considered the deadliest form of air pollution—by 32 percent in just four years.

New hydrogen-powered bus unveiled in Chengdu
An environment friendly hydrogen-powered bus has made its debut in Chengdu, capital of Sichuan Province, reports the official Wechat account of the Chengdu Municipal Development and Reform Commission.

Solving China’s water shortage key to ensuring growth
Recently, some observers have warned that China’s current water crisis is imminent, and if the problem cannot be solved effectively, it will limit China’s implementation of the next step of its economic plans.

A Day in the Life of a Yao ‘Barefoot Doctor’
Armed with herbs and traditional knowledge, Zhou Zhaosong is both a healer of the sick and a pillar of his remote community.

China’s WeChat Banned By Australian Defense Department Due To Security Concerns
The Australian Defense Department has banned its staff and serving personnel from using Tencent’s social media and messaging app WeChat amid growing concerns over Chinese espionage activities in Australia, according to Australian local media.

China’s WeChat Banned By Australian Defense Department Due To Security Concerns

WeChat joins list of Chinese technology banned by overseas militaries on security worries
Australia has instructed its armed forces personnel not to use the popular messaging and payment app, only a few months after the US military banned Chinese-made drones

Is Beijing planning to take Taiwan back … by force?
The mainland is refining the tactics that could pave the way for a forcible seizure of the self-ruled island, according to a senior adviser

Women Are Never Too Young For Anti-Aging Creams in China
“I know it’s a bit pricey, but at least this is a better investment than a Louis Vuitton bag,” she said. Fan told us she is not alone, with many of her young professional female friends dropping 20-40 percent of their annual salary on high-end skincare products such as SK-II, Clé De Peau, and La Mer.
Women from 20 to 29 spent 2.6 times more last year than they did the previous year on eye gels and creams, according to a joint report by Kantar and Tmall. Women in their 20s have become the biggest consumers of cosmetics and skincare, spending more than older women with higher disposable incomes.

Women Are Never Too Young For Anti-Aging Creams in China

Chinese Plastic Surgery App SoYoung Raises Hundreds of Millions of RMB
Chinese medical cosmetology mobile app SoYoung has reportedly completed a funding round worth hundreds of millions of RMB led by Orchid Asia, only 80 days after its last fundraising round of US$60 million. Existing investors Matrix Partners China and Trustbridge Partners also participated in the round, according to Chinese media reports.

Chinese Plastic Surgery App SoYoung Raises Hundreds of Millions of RMB

Vincent in Vogue
‘Artistic consumption’—and a tradition of replicas—drive China’s Van Gogh fever

Vincent in Vogue

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