China Press Review – May 8, 2018

Press review

Donald Trump declares trade war on China
No sovereign power could accept the humiliating demands being made by the US
www.ft.com

Chinese Vice-Premier Liu He to go to Washington to continue talks to avert a trade war

The White House says the Chinese vice-premier will arrive next week ‘to continue the discussions with the president’s economic team’
www.scmp.com

China April exports bounce back more than expected despite U.S. trade brawl
China’s exports rebounded more strongly than expected in April after a surprise drop the previous month, suggesting global demand remains relatively resilient and providing a cushion to the economy amid a heated trade dispute with the United States.
www.reuters.com

US and China’s trade clash to take centre stage at WTO
Both sides expected to set out their case at meeting of global trade body in Geneva
www.scmp.com

US-China trade war: bring the tension down a notch and talk, says JPMorgan chief Jamie Dimon
The United States and China should seize the opportunity amid their ongoing trade crisis to build the capacity for a better relationship and dialogue between the two governments, said the chief of America’s largest bank and a former business council adviser to the US president.
www.scmp.com

Trade talks between China and US must be on equal footing, vice-premier Liu He says
On Tuesday, China called for US trade talks to be conducted on an equal footing, as Beijing’s top economic official is due in Washington next week for more discussions on a dispute that could trigger tariffs on billions of dollars of goods this month.
www.businesslive.co.za/bd/world/2018-05-08-trade-talks-between-china-and-us-must-be-on-equal-footing-vice-premier-liu-he-says/

US China to Meet for Round 2, But Big Differences Remain
Trade negotiations between China and the United States continue early next week in Washington D.C., but analysts say after the first round, the differences between the two sides are huge. Some believe the differences are so fundamental and big that an escalation of tariffs is unavoidable.
www.voanews.com

The Trump effect: China to eclipse US power in Asia by 2030, says Lowy Institute
America’s military might means it remains the most powerful force in Asia – for now, but nervousness over the US president’s policies will speed China’s rise to the top spot, finds Lowy Institute in its first Asia Power Index
www.scmp.com

US-China trade war: bring the tension down a notch and talk, says JPMorgan chief Jamie Dimon
The United States and China should seize the opportunity amid their ongoing trade crisis to build the capacity for a better relationship and dialogue between the two governments, said the chief of America’s largest bank and a former business council adviser to the US president.
www.scmp.com

What Role Does Soft Power Play in China-US Relations?
Can soft power be reimagined beyond the parameters of competition in Sino-U.S. relations?
thediplomat.com

Is the EU trying to derail China’s European ambitions with its new connectivity plan for Asia?
Beijing has been making inroads into Europe with its ‘Belt and Road Initiative’ but Brussels is working on an alternative
www.scmp.com

China closing in on massive new chip fund in bid to dominate US semiconductor industry
China’s government has made technological independence from the United States one of its highest priorities. And now it appears to be putting its money where its messaging has been.

China closing in on massive new chip fund in bid to dominate US semiconductor industry

Fitch says China Asset Manager reforms to improve financial stability
Increased transparency should meet a key aim of China’s financial regulators by reducing the risks of contingent liabilities to asset managers from investors’ expectations of implicit guarantees and discouraging retail investors from investing in high-risk products
www.enterpriseinnovation.net

China’s Got Jack Ma’s Finance Giant in Its Crosshairs
Draft rules may impose capital requirements on Ant Financial Regulatory risk looms over company’s highly anticipated IPO
www.bloomberg.com

Opinion: Foreign Brands Are Frustrated by Chinese E-Commerce
These days, few China business articles fail to mention the glories of Chinese e-commerce. Alibaba, JD.com, and Secoo are huge, publicly listed companies handling ungodly amounts of revenue, and these articles always emphasize how effectively they can get luxury products into the hands of eager Chinese customers. When you dig a little deeper into how some Chinese e-commerce sites work, however, you get a far less rosy picture. It is difficult for foreign brands to work with these platforms, especially if they don’t have a legal entity or physical stores in China. Here are four reasons why.

Opinion: Foreign Brands Are Frustrated by Chinese E-Commerce

How Luxury Players Can Remain Prestigious on WeChat
With new features such as mini-programs and brand zones, and by investing in China’s second-largest e-commerce website JD.com, WeChat has increasingly built out its commerce capabilities in recent years.

How Luxury Players Can Remain Prestigious on WeChat

Chinese investors warming up to impact investing, but regulations slowing progress
International money is still the driving force when it comes to investing to achieve positive social and environmental outcomes
www.scmp.com

Wealth management
Everbright Sun Hung Kai launches new account to compete head-on with private banks
Asset Power Account will allow existing or new customers with assets worth a minimum of HK$8 million (just more than US$1 million) to invest across a range of services
www.scmp.com

Technology the key to halting the slide of Hong Kong
The importance of competitiveness is emphasised relentlessly in economic visions for Hong Kong, such as in the Smart City Blueprint of Chief Executive Carrie Lam Cheng Yuet-ngor
www.scmp.com

‘Greater Bay Area’ could take the heat out of Hong Kong’s property market
The enhanced transport links between Hong Kong, Macau and nine cities in Guangdong may help ease the city’s land-shortage woes, says CBRE’s Tom Gaffney
www.scmp.com

Beijing is going to have to start making a lot of life or death decisions about the Chinese economy
A private Chinese manufacturer, DunAn Group, has sent a letter begging the Chinese government to help it out with its $7 billion of debt.
www.businessinsider.fr/us/corporate-debt-forces-beijing-to-pick-winners-and-losers-2018-5

Chinese Local Asset Management Companies Turn To Bond Issuance For Funding
A number of local asset management companies (AMC) have turned to bond issuance as an alternative financing method, as these “bad debt” managers vie for a slice of China’s ballooning RMB1.7 trillion (US$289 billion) non-performing loan market.

Chinese Local Asset Management Companies Turn To Bond Issuance For Funding

Alibaba acquires South Asia e-commerce platform Daraz
Alibaba Group has acquired South Asia’s largest e-commerce platform, Daraz Group said Tuesday
www.alizila.com

Alibab triples size of industry-leading IP alliance
Alibaba Group said Friday the membership of a key group aimed at protecting intellectual property (IP) rights for brands on its platforms has more than tripled in size from inception – a sign of confidence and growing success in its collaborative efforts to combat counterfeits.
www.alizila.com

Online travel giant Ctrip bets China travellers are in a hurry with backing of US supersonic jet start-up Boom
Mainland Chinese travellers made 130 million trips last year, the most of any nation. Ctrip is betting that at least a small portion of that would pay for supersonic flights to get to their destinations in half the time
www.scmp.com

China tries to mend ties with all neighbors in economic push
Chinese Premier Li Keqiang’s contribution to The Asahi Shimbun that called for resetting ties with Japan indicates that Tokyo is part of Beijing’s overall fence-mending mission across Asia aimed at securing economic development.
www.asahi.com

BNP Paribas targets mainland investors with socially responsible investment fund
BNP Paribas Asset Management joins a growing bandwagon of asset managers offering environmentally and socially responsible investment options, saying that it soon plans to launch a fund targeting mainland investors.
www.scmp.com

Fallen Chinese tycoon Ye Jianming’s CEFC Anhui risks getting kicked off Shenzhen exchange
CEFC Anhui International, a unit of China’s fallen oligarch Ye Jianming, runs the risk of getting kicked off the Shenzhen Stock Exchange, after securities regulators on Tuesday called for the company to provide detailed disclosure of its financial and debt status. The company has until May 15 to respond to the exchange’s query.
www.scmp.com

China set to strengthen economic ties with Japan, South Korea amid trade row with United States
Premier Li Keqiang says three nations should speed up free-trade talks, as Beijing also seeks to maintain influence on Korean peninsula
www.scmp.com

China’s curbs on foreign press should be eased, says German Foreign Ministry State Secretary Andreas Michaelis
Request for German public broadcaster to be allowed to open office in Beijing and for foreign journalists in China to be able to work freely
www.scmp.com

US and international airlines risk curbs on mainland operations if they refuse to obey Beijing’s ‘one-China’ rules in Taiwan row
‘Social credit’ rules could see carriers facing restrictions or being denied new operating permits if they fail to stop listing the self-ruled island separately
www.scmp.com

Hillary Clinton sounds the alarm on China’s foreign influence laws
HILLARY Clinton has issued a stark warning to Australia and New Zealand, saying “a new global battle is just getting started” and we “need to take it seriously”.
www.news.com

Chinese writers arrested for online ‘slurs’ about dairy firm as Beijing tightens grip on social media
Public questions police involvement in civil case after pair detained over ‘fictional’ stories about Yili Group and its chairman Pan Gang
www.scmp.com

Former Chinese rising star Sun Zhengcai sentenced to life in prison for graft
Ex-Chongqing Communist Party boss avoids a death sentence by offering investigators extra information on his crimes, court says
www.scmp.com

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Alain Gillard
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