China Press Review – May 16, 2018

Press review

Why Chinese Vice-Premier Liu He has the most difficult job in the US-China trade talks
Liu He, a key adviser to President Xi Jinping, is facing pressure to reach ‘some kind of agreement’ with Washington, but cannot be seen to sacrifice too much

All’s not fair in US–China trade stoush
As tense trade talks between the US and China continue, a growing chorus of US commentators seem to have concluded that, whatever their misgivings about President Donald Trump, he’s right in taking on China for its unfair trade and being an economic cheat

US ‘looking for a deal’ with China on trade: White House adviser
The United States is seeking a trade deal with China, White House economic adviser Larry Kudlow said on Tuesday as talks between the world’s two economic powerhouses resume in Washington this week.

US ‘looking for a deal’ with China on trade: White House adviser

EU concerned about ‘collateral damage’ from US-China spat
Europe is concerned about collateral damage it may suffer from America’s escalating trade spat with China, an EU official said as he criticised Washington.

China wants its top tech firms to bring their shares home
Analysts say the move is part of plans by the Chinese government to exercise more control over privately run businesses. If China is able to convince some of its biggest firms to list back at home, it will allow the government to keep a closer eye on them and have a bigger say in how they’re run, they say.

Tencent’s profit beats expectations on stronger games contribution
The Shenzhen-based company has been on a shopping spree, expanding into different sectors including e-commerce and automobiles

As U.S.-China Trade Talks Begin, ZTE Is In The Spotlight
He notes that China has so far been comfortable with importing large quantities of food, energy and other commodities, because buying them on international markets is less costly than self-sufficiency. But high-tech products are another matter, Kennedy notes, as they are deeply associated with national security and military superiority. Both the U.S. and Chinese governments are suspicious that each others’ chips and phones may contain “back doors,” compromising the security of users’ data. Hu says some members of China’s liberal minority worry that the country’s security fears “could cause it to close itself off, over-emphasize self-sufficiency or even revert to the era of Chairman Mao.” But the majority in China sees things from a more nationalist perspective, Hu says, which the ZTE case has merely reinforced.

A Tale Of Two China (Tech Firm) Policies?
Not long ago, “national security” may have been the rallying cry against cross-border deal making (read: acquisitions.) But now, there is cross-border deal making of a different sort. Against a backdrop where China exports about $500 billion to the U.S. annually, and where ZTE employs tens of thousands of individuals in China (hence the lost jobs that Trump decried in his Sunday tweet), some companies are perhaps more equal than others. So what’s the pattern here? It’s possible that there is no pattern.

A Tale Of Two China (Tech Firm) Policies?

Chinese Central Bank Official Says Blockchain Should Stay Away From Finance
Sheng Songcheng, a counselor to People’s Bank of China who has served at the Chinese central bank for over 20 years, said that blockchain technology should stay away from finance as much as possible.

China’s home prices pick up as buyers look to smaller cities
China’s new home prices rose in April with an increasing number of smaller cities driving broader growth, helped by state measures that allowed buyers to get around existing restrictions and economic development prospects in those centers.

Chinese banks’ asset quality improves on bad-loan write-offs, but pressures remain
Loans overdue for more than 90 days, a leading stress indicator, still exceed NPLs

Chinese Millennial Founders Challenge the Status Quo by Making Companies for Their Generation
The decade from 1990 to 1999 marks an important part in China’s history. China’s “Open-door policy” from 1986 to 1990 brought a market economy and the private sector. Many of the post-’90s generation (九零后, those born in the ’90s) – having been born after much of the recent upheaval and a time when the country had long been accustomed to the one-child policy – have grown into open-minded and confident young adults.

Starbucks is stepping up its expansion in China.
The Seattle coffee chain on Wednesday announced plans to build nearly 3,000 new stores in mainland China over the next few years. It’s aiming to almost double its number of coffee shops in the world’s second largest economy, from 3,300 at the moment to 6,000 before the end of 2022.

IP protection in China

The protection of intellectual property rights has become one of China’s major goals, and new protection mechanisms have taken shape, writes Richard Li

IP protection in China

Report: China, despite ban, is Facebook’s second-largest ad market
Nearly 10 percent of Facebook’s global revenue, or about $5 billion, comes from China, despite being banned from operating in the country, according to a new report by Pivotal research analyst Brian Wieser. This means China is the second-largest ad spender on Facebook, only behind the U.S.

B&R Initiative offers enormous opportunities to Britain: British official
The Belt and Road Initiative is at the heart of China’s drive to continue its rapid development and will offer enormous commercial opportunities to Britain, a British trade official said Tuesday.

Why China’s $8 trillion Belt and Road Initiative needs to raise the bar on global environmental standards
An expert in landscape and road ecology, Jaeger has studied the impacts new roads have on local wildlife. He says the BRI could be a launch pad for new norms in road construction and impact mitigation if available scientific evidence in road ecology is actually used in high-quality impact assessments.

The clouds gathering around China’s Belt and Road
Malaysia vote highlights concerns shared by Western powers

Asia’s infrastructure funds look to India for returns, not China’s Belt-and-Road
Some of Asia’s biggest infrastructure investors are seeing plenty of opportunities in India rather than China’s mammoth Belt-and-Road initiative

Polish-Chinese coopeartion prospects highlighted at meeting in Poland
Panels dedicated to Polish-Chinese cooperation prospects gathered many guests Tuesday during the second day of the 10th edition of the European Economic Congress in Katowice, southern Poland.

Why China is Hooked on Snake-Oil Health Supplements
Long-held traditions and a deep-seated cultural suspicion of medicine are enriching peddlers of wellness products.

Chinese adoption of online wealth management products second only to US, says report by Boston Consulting and Lufax
Tech-savvy consumers, rapid growth in internet financing platforms and the ‘go smart’ trend among financial institutions behind growth

In China, there’s a new crop of connoisseurs as taste for wine grows
With domestic producers winning prizes and top tasting competition held there last week, country is tipped to become second-largest consumer of wine

Why Not To Worry About Trading, Investing In China
With Chinese tightening moderate, and the country experiencing export and domestic demand growth, now is not the time to fear China. Alibaba (NYSE:BABA) and Tencent (OTCPK:TCEHY) are again beginning to look attractive, says Monty Guild, editor of Guild Investment Management.

Hong Kong property
Asia’s priciest address on offer as five villas set for en bloc sale at The Peak, asking US$298 million
The properties feature extravagant interior decorations, custom built furniture, original oil paintings and hand crafted chandeliers

How ‘unconditional’ is China’s foreign aid?
Chinese foreign aid is often referred to as having “no political strings attached,” and is therefore a more attractive option for many non-Western countries. But is it really free of constraints?

Pay attention at the back: Chinese school installs facial recognition cameras to keep an eye on pupils
Pupil tells reporters he doesn’t dare let his mind wander after technology is installed in classroom to see who is paying attention

China’s South China Sea Grab Now Complete, Report Says
Military analysts now believe that China dominates the South China Sea militarily to the extent that it would prevail in any situation other than an all-out war with the United States, according to a report by the Manila-based country risk firm Pacific Strategies & Assessments.

China’s South China Sea Grab Now Complete, Report Says

Chinese military’s rising star falls back to earth ‘over links to disgraced senior commanders and daughter’s marriage to Frenchman’
Former rising star Cai Yingting is demoted by eight grades with sources blaming doubts about his loyalty and failure to disclose foreign family ties

Marriage Leave in China
The government is expected to develop new policies to encourage population growth and counteract these demographic trends, including the relaxation of existing family planning laws.

Marriage Leave in China

Would you pay your ex a ‘break-up fee’?
Break-up fees are more commonly paid by men – out of guilt or in order to offset their partner’s upset. However, increasingly some women see it as acceptable to pay a fee, given that it is traditionally the man who will pay for meals and gifts in a Chinese relationship.

Alain Gillard
Information Officer
Service Asie Pacifique
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1080 Bruxelles
Tél 02 421 85 09 – Fax 02 421 87 75
Twitter: @alaingillard
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