China Press Review – May 15, 2018

Press review

Beijing must remain alert to threat of financial crisis, senior adviser says
Nation’s economy has been ‘hijacked’ by property, creating a huge threat to financial stability, government counsellor Xia Bin warns
www.scmp.com

China investment, retail sales weaken, hinting at economic slowdown
China reported weaker-than-expected investment and retail sales in April and a drop in home sales, clouding its economic outlook even as policymakers try to navigate debt risks and defuse a heated trade row with the United States.
www.scmp.com

A minefield to walk through: Vice-Premier Liu He must steer China’s hi-tech industries to greatness, even as a trade war with US looms
Liu’s portfolio, already heavy with industrial, economic and financing concerns, now adds science and research, just when US seeks end to technology transfers and fervour grows for domestic development
www.scmp.com

US business groups bash Trump tariffs as China talks intensify
US companies and business groups are lining up to oppose the Trump administration’s plan to slap tariffs on Chinese imports, as the two nations step up efforts to resolve their trade dispute.
www.scmp.com

China property investment growth slows, sales dip on increased curbs
China’s property investment growth slowed in April while sales marked their biggest fall in six months as higher borrowing costs and increased curbs on buyers weighed on demand, backing views that a key driver of the economy is losing some momentum.
www.reuters.com

Soft China April investment, retail sales suggest economy losing steam

China reported weaker-than-expected investment and retail sales in April and a drop in home sales, clouding its economic outlook even as policymakers try to navigate debt risks and defuse a heated trade row with the United States.
www.reuters.com

China-U.S. trade frictions have yet to show impact on China’s economy: China stats bureau
Trade frictions between China and the United States have yet to show an impact on China’s economy, a spokeswoman for statistics bureau in Beijing said on Tuesday.
www.reuters.com

Investors set to reject China Three Gorges’ US$10.8b bid for Portugal’s largest energy firm
Investors expect Three Gorges, which is the biggest investor in EDP, to raise its bid from the current €3.26 a share as they see it as too low
www.scmp.com

Is China Changing the Postwar Consensus or Enhancing It?
China’s growing economic power and political influence have tremendous disruptive effect, which can be good or bad depending on where one sits.
nationalinterest.org

With eye on Asia’s growing online retail sector, JD.com buys US$306 million stake in logistics company ESR
China’s second-largest logistics company, ESR owns and operates more than 10 million square metres of warehouse space across China, Japan, Korea and India
www.scmp.com

China to Sign Free Trade Agreement with Eurasian Economic Union on May 17
China is set to sign a free trade agreement (FTA) with the Eurasian Economic Union this Thursday in Astana. Acting Russian Presidential Aide Yuri Ushakov made the statement to the Tass News Agency yesterday, confirming that the agreement on trade and economic cooperation would be going ahead.

China to Sign Free Trade Agreement with Eurasian Economic Union on May 17

Move over London, hello Hong Kong-Beijing-Shanghai as the world’s top financial centre?
Chris Rowley says the hunt for the city that will take over London’s mantle as the top global financial centre has been unduly focused on Europe, when Asia is the region to watch
www.scmp.com

Why The ZTE Case Is Causing Some In China To Think About Economic Relations With U.S.
President Trump has pledged to help rescue one of China’s top telecommunication firms, which the U.S. Commerce Department has penalized for violating U.S. sanctions on North Korea and Iran. The penalties have convinced many Chinese that they can no longer rely on the U.S., and must manufacture their own hi-tech products.
www.npr.org

ZTE: What is Trump Up To?
The Chinese Telecom Giant Inadvertently Gave the US Leverage in Trade Talks

ZTE: What is Trump Up To?

Trump says ZTE support part of ‘larger trade deal’ as Chinese state media calls for no ‘conditions’
US President Donald Trump has pushed back on criticism that he was “saving jobs in China” by wanting to lift an export ban imposed on the Chinese telecoms maker ZTE.
www.scmp.com

The coming Renminbi revolution

The world must hope that China won’t run the world economy in the same way as the west

The coming Renminbi revolution

China April industrial output up 7.0 pct, tops forecasts; investment, retail sales miss
Analysts polled by Reuters had predicted industrial output growth would rise to 6.3 percent, bouncing back from a softer-than-expected 6.0 percent reading in March. Investment growth had been expected to ease only slightly to 7.4 percent in the first four months from the same period a year earlier, compared with 7.5 percent in January-March.
www.reuters.com

The 10 Most Appealing Fragrance Brands for the Chinese Market
Traditionally, Chinese consumers prefer lighter, fruitier, and fresher fragrances. According to research conducted by Labbrand, over 50 percent of the Chinese survey respondents chose fragrances containing subtle, fresh scents. The research also suggested that success in the Chinese market requires fragrance brands to pay attention to culturally valued elements such as elegance and cuteness.

The 10 Most Appealing Fragrance Brands for the Chinese Market

Yuan direction: currency’s internationalisation continues
More than a quarter of cross-border trade was settled in the Chinese currency in 2017, and more than 60 countries have adopted it as their reserve
www.telegraph.co.uk/news/world/china-watch/business/rise-of-chinese-yuan/

Tesla Gains Approval To Set Up Wholly-owned Company In China
American electric vehicle maker Tesla Inc. has gained green light from China to set up its 100% owned company in Shanghai.

Tesla Gains Approval To Set Up Wholly-owned Company In China

China car owners use AI-powered app to file damage claims
Assessing damage caused to their rides has just gotten a lot easier for car owners in China, with the rollout of a video-based, artificial-intelligence app from Ant Financial.
www.alizila.com

China first stop for billionaire Michael Bloomberg’s New Economy Forum – and he’s got some big players on board
Beijing will host the first sessions of the New Economy Forum, November 6-8
www.scmp.com

New Alibaba training to boost online travel business
Alibaba on Monday announced the opening of the “New Tourism Academy,” a business-training initiative aimed at helping players in China’s hypercompetitive travel and tourism market bolster their capabilities online.
www.alizila.com

Xi Jinping Calls For Greater Cooperation On Innovation Between Hong Kong And Mainland

Chinese president Xi Jinping has called for enhanced cooperation on innovation between mainland China and Hong Kong to help make Hong Kong to become an international innovation hub.

Xi Jinping Calls For Greater Cooperation On Innovation Between Hong Kong And Mainland

China’s Emerging Factory Brands Threaten the Luxury Market
In China, who is and isn’t a copycat is open to interpretation. While many brands are actively struggling to clear counterfeit items from Chinese e-commerce sites, NetEase is now working directly with the manufacturers for brands like Gucci, Burberry, and Rimowa to produce unbranded items for its site, Yanxuan. They claim the quality of these items is the same as those from luxury brands, but at much lower prices.

China’s Emerging Factory Brands Threaten the Luxury Market

Belt and Road boosts Chinese culture industry
Beijing symposium highlights the opportunities for expansion of China-based enterprises in a range of fields, including cartoon animation, ice acrobatics and tea
www.telegraph.co.uk/news/world/china-watch/culture/chinese-culture-industry/

The Tech Companies Disrupting China’s Tea Industry

Up-and-coming purveyors of the country’s favorite drink are challenging the traditional focus on tea-growing regions.
www.sixthtone.com

Ant Financial reduces same-day withdrawals from its money market fund to manage liquidity risk
Ant Financial, Alibaba Group’s financial arm, will drastically reduce the amount of money that investors can withdraw each day from its money market fund, in a move it said was taken of its own accord to manage liquidity risk.
www.scmp.com

China Scams Up and Quality Down
I have generally felt that rule of law is taking hold progressively in China. However China Law Blog indicated China scams up and quality down. That is a little different than rule of law. I agree with China Law Blog on the scam problem.

China Scams Up and Quality Down

‘China’s Hawaii’ looking for 1 million new residents, more than the population of Stockholm
Subsidised housing is just one of the perks on offer as Hainan seeks to become the new poster child for China’s opening up and economic development
www.scmp.com

Gap apologises for selling T-shirt with ‘incorrect’ map of China
US clothes firm sold garment omitting areas of Tibet, Taiwan and the South China Sea from map printed on the front
www.scmp.com

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