China Press Review – May 14, 2020

Press review

China economy: latest data about world’s second largest economy
China is the world’s second largest economy behind the United States   Gross domestic product (GDP) growth rate, consumer price index, purchasing managers’ indices, trade and industrial production are all key indicators

Reform the WTO for a post-coronavirus world. The global economy needs a champion to lead it out of the crisis
Collapsing trade must be rebuilt to spur recovery. The WTO can work on addressing trade restrictions on key supplies in the short term, and lead discussions to lower tariffs and facilitate e-commerce and agricultural trade in the long term

‘Is Trump insane’ to threaten cutting off ties with China?
Yes. And it is not China but the US who will suffer more   “Is Trump totally insane?” Experts and the international community couldn’t help but ask this question after US President Donald Trump threatened to “cut off the whole relationship” with China on Thursday in an interview with FOX Business. Observers said that Trump’s word would never deter China, but may shock US political and business circles and its own people, and may put world peace in a dangerous position.

U.S. Futures Edge Down; Bonds Advance With Dollar: Markets Wrap
The futures extended declines earlier after Trump said in a TV interview that he doesn’t want to talk to China’s President Xi Jinping “right now.” American unemployment data to show pandemic’s continuing toll   Europe stocks decline; crude oil claws back Wednesday’s drop

Coronavirus: Alibaba’s Lazada expands grocery sales in Asia, linking farmers with hungry customers
Lazada previously had dedicated grocery arms only in Singapore, Thailand and the Philippines. Since the outbreak, it’s expanded to Malaysia, Vietnam and Indonesia  Demand for fresh groceries has surged globally, but the spike in Malaysia opened a window in particular for China’s largest online commerce company into a lucrative market

New coronavirus outbreaks in China’s rust belt spark fears for struggling provincial economies
Clusters of new coronavirus cases have sprung up in the provinces of Heilongjiang, Jilin and Liaoning, emphasising the risk facing the wider Chinese economy   Heilongjiang and Liaoning contracted by 8.3 per cent and 7.7 per cent respectively in the first quarter of 2020, the third and fourth worst among all China’s 31 province

Live-streaming shopping a new black spot in e-commerce, China’s consumer rights watchdog says
The China Consumers Association received a total of 66,798 complaints sent by online shoppers during the Labour Day holiday    Live-streamed retail initiatives during that holiday recorded nearly US$20 million in sales

E-commerce: China’s resilient digital footprint
DFNI is taking a in-depth look into the booming potential of e-commerce, particularly in Asia and as the impact of the Covid-19 crisis demands new approaches to attracting customers

Trump extends for another year the executive order behind the Huawei ban
The US President Donald Trump extended Wednesday for another year an executive order that bans telecommunications equipment and services from foreign companies that could pose a threat to national security. The order effectively bans US businesses from working with Huawei.

Crushing coronavirus uncertainty: The big ‘unlock’ for our economies
We now know that stay-at-home lockdowns work to control the spread of the virus. We also know that lockdowns kill the economy. The consequences are not just financial: there is also a direct human toll.

After coronavirus pandemic, Chinese students grapple with first economic downturn of their lives
Some 8.7 million Chinese university students are set to graduate this summer, but they will enter the worst job market in recent memory     The coronavirus pushed China into its first economic contraction since 1976 in the first quarter, tightening competition for a dwindling number of graduate jobs

Coronavirus latest: EU offers vaccine hope as WHO warns Covid-19 ‘may never go away’
Japan lifts virus emergency in most regions; Sanofi walks back after saying US would get vaccine first   UK approves Roche’s antibody test; Russia cases surpass 250,000

How 5G Is Streamlining Hospitals’ Emergency Response
Sending test results from the ambulance directly to hospital specialists as they consult remotely can shave up to 30 minutes off a patient’s treatment time.

Harvard and MIT researchers are developing a face mask that lights up when it detects the coronavirus
For the last six years, bioengineers have been developing sensors that can detect viruses like Zika and Ebola    Sensors in face mask would light up to signal the presence of the new coronavirus when an infected person breathes, coughs, or sneezes

Coronavirus: time for Hong Kong to shift from containment to mitigation, experts say
‘Naive’ to think city is without unidentified cases, coronavirus expert tells China Conference, as panellists make case for shift to mitigation strategy    Government adviser reveals talks under way to ease border restrictions with Taiwan, along with Macau and mainland China

China hits out at US coronavirus research hacking claims as tensions flare
Foreign ministry spokesman describes allegations that Chinese were trying to steal vaccine data as ‘smears’    Zhao Lijian also urges US to ‘focus on saving lives’ and not deflect blame

Hold China accountable for coronavirus, but don’t ‘scapegoat’ them: CFR president
U.S. has to raise the costs for China’s destabilizing behavior: Council of Foreign Relations Pres.
China should be held accountable for its role in the coronavirus pandemic, but the United States must also take responsibility for the “debacle” of its response, according to Council on Foreign Relations President Richard Haass.     The COVID-19 crisis has opened a new fissure in Sino-American relations, and pressure is building in Washington to hold Beijing accountable for the spread of a virus that has now infected over 4 million worldwide and plunged the world into a deep recession.

What will China’s Covid-19 new normal look like? Health chiefs paint a cautious picture
Authorities are easing the last of the country’s emergency restrictions but constant monitoring will be here for the longer term, they say     Control of the pathogen could be five years away, WHO chief scientist warns

Coronavirus: Trump deepens rift with top doctor Fauci as schools become flashpoint
Trump slams Fauci’s coronavirus testimony: ‘He wants to play all sides’   Fauci warned that opening too early could allow virus to resume spreading

HNA Group risks losing Swissport as distressed funds initiate debt restructuring for rescue financing
Apollo, SVP Global and Cross Ocean Partners have amassed a majority of Swissport’s senior debt, Reuters reports  Swissport, an airport cargo handling company, is talking to lenders for financial support to ride out the coronavirus crisis Debt-laden Chinese conglomerate HNA Group risks having its stake in Swissport International wiped out under a plan to inject rescue financing into the beleaguered airport-cargo handling company.

Tesla’s apprentice   Is Tesla bullying its own biggest fan?
Xpeng Motors showcased the P7, its first four-door sedan with Level 3-ready autonomous driving capabilities at Alibaba Cloud’s APSARA Computing Conference in Hangzhou in September 2019. (Image credit: Xpeng Motors)   “One of the reasons Xpeng was founded was because Elon Musk made Tesla’s patents available. It was so exciting,” He Xiaopeng, the company’s CEO, told Quartz in 2018. These words would return to haunt him.

Hong Kong commerce minister’s gloomy prediction for city economy as battle against coronavirus continues
Secretary for Commerce and Economic Development Edward Yau says ‘the second quarter will not be any better than the first quarter’   Yau was speaking at China Conference hosted by the Post

Coronavirus: Hong Kong business travellers prioritised in economy relaunch once pandemic is defeated
Commerce minister Edward Yau tells the Post’s China Conference the government is preparing for city’s revival in second half of the year    He warns relaunch can only be delivered when Covid-19 is defeated and Hong Kong seen as a safe place, in nod to anti-government protests

Japan lifts coronavirus state of emergency in most areas, but is it really out of the woods?
Shinzo Abe lifted the emergency in 39 of Japan’s 47 prefectures but Tokyo and Osaka will remain under restrictions until the virus is contained    Experts say the true extent of the crisis in the country is unknown given relatively low rates of testing

Chinese, South Korean leaders agree to increase cooperation to revitalise economies, fight Covid-19
Neighbours should ‘strengthen communication and coordination under multilateral systems … to push forward anti-pandemic cooperation’, Xi Jinping tells Moon Jae-in ahead of planned visit later this year  Seoul keen to ‘deepen communication … for a more united international community’, South Korean president says

Speed HK$10,000 handout to boost local economy or Hongkongers will spend it on travel, former minister says
Distributing the handout before travel restrictions are lifted will encourage local spending, former finance minister Frederick Ma Si-hang says   Registrations for the scheme start at the end of June and payouts will begin from July 

How to Manage a Chinese Factory
Many Chinese factories are hurting right now. Badly. This should come as no surprise. First they went through months of closures due to the coronavirus, and just went they opened they faced massively reduced demand. Chinese factories are closing left and right and many of those that are open are facing reduced demand and falling prices. See China’s factory deflation deepens as pandemic hits demand.

A post-Covid business opportunity
The coronavirus pandemic has influenced foreign firms to shift operations out of China. India must spruce up domestic business environment to take advantage

China’s US barley, blueberry move focused on trade war deal, unrelated to coronavirus backlash against Australia
China will allow imports of barley and blueberries from the US from Thursday, making it easier to meet its commitments in the phase one trade deal    China’s largest state-owned food processor, manufacturer and trader COFCO also hinted it would speed up the buying of American farm goods, including soybeans

Advocacy group says TikTok violated US Federal Trade Commission consent decree, children’s privacy rules
A group of privacy advocacy organisations says TikTok failed to take down all videos made by children under the age of 13 as it previously agreed to do    The Chinese-owned short video app paid US$5.7 million last year to settle charges that it illegally collected personal information from children

Couples in Xian, China will soon be able to register their marriages with face scans
By end-September, all marriage registries in Xian will have automated terminals where couples can obtain their marriage certificates by scanning their faces   Officials say the move is expected to increase efficiency and reduce errors from filling out paperwork

US Covid-19 blame game is pushing China and Russia closer together. Are we heading for a new Cold War?
In drawing in Russia, the US-China conflict could become far more dangerous, and more inclined to proxy conflicts, with global interdependency today making any minor escalation particularly menacing

Too soon, too loud: Chinese foreign policy advisers tell ‘Wolf Warrior’ diplomats to tone it down
Combative approach is driving the world further away from China, they say    Scholar calls for a halt to debate over origin of the coronavirus, saying it is only making the blame game worse

China reveals mountain of bribes seized from fallen Communist Party boss Zhao Zhengyong
Anti-graft watchdog says millions in cash, property and stocks were recovered from Zhao, the former party chief of Shaanxi      Disclosure of landmark sum meant to ease public anger over corruption, observer says

China’s ‘OK Boomer’: Generations Clash Over the Nation’s Future
A commercial extolling Chinese youths has set off a debate over whether they are too nationalistic — and their prospects too limited — for the country’s good.

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