China Press Review – November 8, 2018

Press review

China’s exports and imports both grow more than expected in October
China’s overall trade surplus was $34.01 billion for October, lower than the $35 billion economists had expected. Exports denominated in dollars rose 15.6 percent from a year ago in October, exceeding an expected 11 percent growth economists polled by Reuters had forecast. September exports grew 14.5 percent on-year. Dollar-denominated imports meanwhile rose 21.4 percent from a year ago, topping an expected 14 percent. September imports grew 14.3 percent on-year.
www.cnbc.com

China’s exports higher than expected as shippers rush to beat next round of trade war
Tariffs expected to bite early next year, especially if planned increase goes ahead Small drop in trade surplus with US from record September level
www.scmp.com

A Chinese recession is inevitable – don’t think it won’t affect you
A recession in China, amplified by a financial crisis, would constitute the third leg of the debt super-cycle that began in the US in 2008 and moved to Europe in 2010. Up to this point, the Chinese authorities have done a remarkable job in postponing the inevitable slowdown. Unfortunately, when the downturn arrives, the world is likely to discover that China’s economy matters even more than most people thought.
www.theguardian.com

No quick fix to US-China trade war – even with a Trump-Xi meeting, top Beijing economic adviser says
Short-term progress on intellectual property protection or opening up China’s marketplace doubtful, Fan Gang tells Harvard University audience Fan says he is pessimistic about US-China ties ‘in the short-run and the long run’
www.scmp.com

Have trade talks begun? US National Security Adviser John Bolton meets top Chinese diplomat ahead of G20
Yang Jiechi says two countries must manage differences to ensure success of Xi-Trump meeting in Argentina He says they should also step up military communications and cooperation against terrorism
www.scmp.com

Trump says trade war success can help ‘heal’ US divide
North Korea summit on track for early 2019 despite delayed prep meeting
asia.nikkei.com

Huawei Chips Unlock New Era of Artificial Intelligence
New Ascend 310 AI Chip Earns Huawei the Prestigious “World Leading Scientific and Technological Achievement Award” at the Fifth World Internet Conference
www.asiaone.com

Why Chinese Artificial Intelligence Will Run The World
How the Chinese tech giants Baidu, Alibaba, and Tencent will develop the systems that will run the world. The growth of artificial intelligence in China may become the revolutionary development of the current century. “Deep learning is the single greatest invention so far in the Era of Discovery, which was led by the US,” says Kai-Fu Lee, former President of Google China, “but since the deep learning breakthrough, we’ve already entered the Era of Implementation where what matters is execution, product quality, speed, and data. And that’s where China comes in.”
interestingengineering.com

China’s Tech Fortunes Tumble As Investors Turn Away From Public Listings
Technology companies in China have minted a slew of new billionaires worth almost $30.8 billion this year, but many of those fortunes are now sliding downward as investors grow increasingly skeptical of the sector’s outlook for future growth.
www.forbes.com

US and Europe should join tech forces to counter China – Tony Blair
Competition commissioner Margrethe Vestager also speaks at Web Summit in Lisbon
www.irishtimes.com

Artificial intelligence: real war
China vs the US vs Russia: who will get there first and who’s going to control it? Why are we driven to find this other entity that can do everything better and faster than humans?
eandt.theiet.org

Chinese e-commerce giants to import $250 billion worth of international goods
Alibaba, JD.com Throw Weight Behind Beijing Import Driv: Heeded Beijing’s call to boost the nation’s imports, China’s leading e-commerce platforms announced commitments to help import a combined $250 billion worth of foreign goods at the first ever China Import Expo in Shanghai. Alibaba leads the group with a $200 billion pledge to import goods from more than 120 countries over the next five years and JD plans to purchase nearly RMB 100 billion. Suning.com (euro 15 billion), NetEase Kaola (RMB 20 billion), VIP.com (RMB 10 billion) and Yangmatou (RMB 100 million) also joined the initiative.

Briefing: Chinese e-commerce giants to import $250 billion worth of international goods

China’s Travelers, Luxury Shoppers To Fuel Global Economic Growth: Jinping
Strong Chinese outbound travel and luxury spending are, by some estimates, fueling economic growth all around the world. And, as a slowdown looms, the consumption power of Chinese jetsetters is proving increasingly vital to the businesses of luxury brands, high-end retailers, and destinations alike.

China’s Travelers, Luxury Shoppers To Fuel Global Economic Growth: Jinping

Huānyíng to the new Chinese traveler
Our new research finds that Chinese tourists are broadening their horizons in many ways.
www.mckinsey.com

Made in China: The Boom and Bust of Makerspaces
The government hoped makerspaces could help solve the country’s innovation issue — but the push seems to have backfired.
www.sixthtone.com

Huawei’s Ken Hu says company has little to do with Beijing’s ambitious 2025 blueprint
Huawei is deeply invested in the research and development of 5G, artificial intelligence and semiconductor technologies, which are among the major areas covered by the ‘Made in China 2025’ strategy
www.scmp.com

From heavy industry to modern tech hub
Negotiating an economic transition is complicated. The experience of Jinan offers five lessons for other Chinese cities.
www.mckinsey.com

Is Shanghai really doing better than Hong Kong at English?
Mainland city has scored higher on a global language proficiency index but experts say it ‘doesn’t describe the true picture’ Test looked at reading and listening abilities, not speaking and writing skills
www.scmp.com

What now for Japan and China?
From the 45th anniversary of the normalisation of China–Japan diplomatic relations in 2017 to the 40th anniversary of the signing of the China–Japan Treaty of Peace and Friendship in 2018, China and Japan are experiencing a run of opportunities to improve bilateral relations. Both governments are making the most of this time to strengthen ties. Japanese Prime Minister Shinzo Abe’s official visit to China on 25 October, which followed Chinese Premier Li Keqiang’s visit to Japan in May 2018, are significant steps along the way.

What now for Japan and China?

Japan’s Belt and Road Balancing Act
Japan in engaging in China’s BRI while also hedging its bets through similar initiatives with other partners.
thediplomat.com

China calls for agreement on Asian free-trade deal ‘as soon as possible’
As trade war with US deepens, Beijing has new impetus to wrap up negotiations on Regional Comprehensive Economic Partnership Assistant foreign minister says pact will ‘address the challenge of unilateralism and protectionism’
www.scmp.com

China Tech Talk 63: Mafengwo and fake numbers in China
Wang Boyuan is back! This time we’re talking about Mafengwo and the curious case of extremely unreliable numbers in China. Not only Mafengwo, but also Alibaba, JD.com, and Dianping are mentioned in the discussion.

China Tech Talk 63: Mafengwo and fake numbers in China

China’s brightest children are being recruited to develop AI ‘killer bots’
Beijing Institute of Technology recruits 31 ‘patriotic’ youngsters for new AI weapons development programme Expert in international science policy describes course as ‘extremely powerful and troubling’
www.scmp.com

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