China Press Review – May 14, 2018

Press review

China’s economic growth story will be cut short under Xi Jinping, research firm predicts
Economists say expansion will slow to 2 per cent by the end of next decade because of headwinds and structural restraints

China says top economic aide Liu He will begin trade talks in US on Tuesday
Move comes after Donald Trump says he will help Chinese telecom firm ZTE get ‘back into business’

Maybe Trump and Xi Both Benefit from a Trade War
China’s top economic adviser Liu He lands in Washington on Tuesday for another round of trade negotiations with counterparts in the Trump administration. His mission: to find an eleventh-hour compromise that will dissuade Trump from imposing sanctions on Chinese imports, avert retaliation in kind from Beijing, and thereby save the world’s two largest economies from stumbling into a senseless and mutually destructive trade war. (And you thought your job was tough!)

Donald Trump ‘working together’ with President Xi Jinping to help restart China’s ZTE
The US president instructed the Commerce Department to help the Chinese telecom giant ‘get back into business, fast

China’s private firms default on US$2 billion bond repayments as Beijing’s deleveraging efforts bite
A shortage of bank funding and an increasingly competitive business environment has left companies fighting to survive, analysts say

China’s new way to kick the can down the road on government debt: longer-term bonds

Local authorities will now be allowed to issue 15- and 20-year bonds

Why should China change its successful trade policies just to please the US, given America’s own history of violations?
Dani Rodrik says when crafting a global trading environment, it’s important to realise that all nations have different political and social settings, and so will not play by the same ‘rules’

Belt and Road landmark as first direct freight train arrives in Antwerp from China
In another landmark for overland connections under the Belt and Road Initiative (BRI) between China and Europe the first freight train exclusively destined for Antwerp arrived at the Belgian port on Saturday.

Interview: Belt and Road Initiative features win-win for China, CEE — expert
Infrastructure investments and other projects within the framework of the China-proposed Belt and Road Initiative are benefitting Serbia as well as the whole of Europe, an expert has said.

China-India economic accord will be a global tipping point
China and India will have more middle class people than the total populations of the US and EU combined.

China-India economic accord will be a global tipping point

State-owned China Three Gorges in US$10.8 billion bid for Portugal’s biggest company EDP
If the deal goes through it will be the latest in a series of acquisitions by Chinese firms in the country since its 2010-13 debt crisis

134 billion reasons for Mahathir not to rethink Chinese investment
Fears that multibillion-dollar deals between China and Malaysia may no longer have a friend at the top may be premature – after all, the new prime minister has 134 billion reasons to maintain the status quo

Foreign investment bill targeting China heads for Senate panel vote
A bill aimed at tightening oversight of foreign investment in the United States because of concern about China’s acquisition of critical technology is headed for a vote this month in the U.S. Senate Banking Committee, the panel said on Friday.

Why China may pay a high price for cutting the trade gap with the US
The first current account deficit in 17 years brings the risks of cutting America’s trade deficit into sharper focus revenues grew 33.1% in Q1 2018; key activities highlights
In Q1 2018, reported net revenues of RMB100.1 billion (US$16.0 billion), representing a 33.1% increase from the same period in 2017. Net product revenues increased by 31.0% while net service revenues increased by 60.0% year-on-year to RMB8.6 billion (US$1.4 billion) in Q1 2018. Annual active customer accounts increased by 27.6% to 301.8 million in the last twelve months ended March 31, 2018. revenues grew 33.1% in Q1 2018; key activities highlights

Exclusive Report: China’s E-tail Giants Aren’t the Only Answer for Cross-Border Sales
For a brand with little to no presence in China, it can be tough to maneuver through the retail landscape without a local partner. But with Chinese shoppers set to spend more than US$1 trillion this year online, China’s cross-border e-commerce, or haitao (海淘), ecosystem can offer plenty of opportunities for brands to get their foot in the door without having to set up a physical base. Cross-border marketplace giants like Tmall and seem like obvious launch pads, but a closer look reveals it’s much more complicated than that.

Exclusive Report: China’s E-tail Giants Aren’t the Only Answer for Cross-Border Sales

China’s Geely hires three investment banks to float Volvo
Zhejiang Geely Holding Group, the owner of Volvo Cars, has appointed three global investment banks to lead the Swedish carmaker’s initial public offering this year, according to people close to the deal.

Lenovo, the Chinese giant that plays by the rules … and loses
Contrary to the accusations levelled at China’s tech sector, the firm bought its patents fair and square. But is it facing losses?

First it faked its data. Now Inner Mongolia’s late releasing the numbers
Northern region has yet to publish GDP figures for the first quarter after admitting it overstated its economic performance in the past

How Chinese Consumers Engage With Luxury Livestreamers
“It gives you a cooling sensation,” livestream host Haoran said, applying a small dose of cleansing cream to her face and wiping away the makeup residue with a towel. It was 10am on a Friday in New York City’s West Village, and while there was barely any traffic inside the C.O. Bigelow store, it didn’t feel quiet. Almost 1,500 people from China were getting a glimpse of the products in store via livestream

How Chinese Consumers Engage With Luxury Livestreamers

Q&A: Tmall global executive on why Chinese consumers want canadian products
Alvin Liu is the general manager of Tmall Global Import & Export. He has just concluded a roadshow in Canada to help local merchants and brands understand how they can sell to China. Alizila sat down with him recently to discuss Alibaba’s strategy in Canada, how companies and brands can have better engagement with Chinese consumers and why Tmall Global is a good platform for businesses looking to tap into the Chinese market.

Should Europe Limit Chinese Investment? – Analysis
Why would such a European mechanism to supervise investment be necessary at this time? The main reason is the extraordinary evolution in recent years of Chinese investment in Europe, which grew from €1.6 billion in 2010 to €35 billion in 2016. Given that the current stock of Chinese investment internationally is equivalent to barely 10% of its own GDP, investment from China into Europe still has significant future potential for growth. Nevertheless, such a response is not really motivated by this quantitative aspect. In fact, European countries continue to compete amongst themselves to attract more investment from the Asia giant. The controversy arises more from the potential strategic, security and other public order implications of such investment. Therefore, this debate should not isolate itself in any one country, nor be understood as a protectionist measure, especially in the current context in which the role of Europe, as one of the principal guarantors of the open and inclusive international order, is particularly necessary.

Should Europe Limit Chinese Investment? – Analysis

How The ‘Gaokao’ Rewards Students for Being Rich
Bonus points on China’s college entrance exam still disproportionately favor the children of the wealthy.

Didi Suspends Services Following Woman’s Death

Ride-hailing app’s customer review system also revealed to be full of comments rating female passengers’ appearance.

Fitch Says China Risk Weakens Hong Kong Banks

Hong Kong’s proximity to China has long been its stronger selling point. But according to a new Fitch Ratings report, it is having a bad influence on the city’s banking sector.

Fitch Says China Risk Weakens Hong Kong Banks

Inside Shanghai’s robot bank: China opens world’s first human-free branch
‘Little Dragon’ can chat to customers, accept bank cards and check accounts. She joins a growing army of robot workers in China’s cities

China to deliver world’s largest amphibious aircraft to customers by 2022
China expects to deliver its domestically developed AG600, the world’s largest amphibious aircraft, to customers by 2022, Xinhua reported late on Sunday citing the plane’s manufacturer.

Is Beijing softening its tone towards Hong Kong on major policies?
But underlying message is clear: that the central government expects reciprocal understanding and goodwill from the city

Hainan opens channel to home ownership for new workers

Restrictions will also be eased on overseas workers, including those from Hong Kong and Taiwan

Hillary Clinton’s warning to Australia: beware Chinese ‘influence peddling’
Australia has seen tensions with China rise recently over allegations of Beijing interference in domestic politics and using donations to gain access

China and the Future of Democracy
Will China soon be the world’s leading economic and geopolitical power? Has it achieved this status already, as some suppose? And if the answer to either question is yes, what are the global implications for the future of democracy?

China and the Future of Democracy

Xi Jinpings’s take on communism offers alternative to decline of the West
In reviving Karl Marx’s ideals 200 years after his birth, the Chinese president is directing his nation to embrace a new model of governance

The feminist author who is changing China’s perception of its ‘leftover women’
Luo Aiping became a catalyst for change by co-writing a book that exposed the mainland media’s stigmatising of unmarried women

China’s state media is going global
On 21 March 2018, the Chinese Communist Party (CCP) released its ‘Plan for Deepening Reform of Party and State Organs’. Among the 60 items added to China’s reform agenda, four were related to state media. That month, the CCP greatly increased the power of China’s so-called ‘Ministry of Truth’ — the Central Publicity Department (CPD). It also announced plans to create Voice of China, the world’s largest media conglomerate.

China’s state media is going global

Alain Gillard
Information Officer
Service Asie Pacifique
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Twitter: @alaingillard
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