China Press Review – October 11, 2017

Press review

China to issue first dollar bonds since 2004, in Hong Kong
They will comprise US$1 billion in five-year, and US$1 billion in 10-year notes
www.scmp.com

Following the Money: Uncovering a Chinese state secret
China has a long list of state secrets – how many people it puts to death every year, and even the birthdays of its top leaders. But now, overseas researchers have uncovered another Chinese state secret: how much money Beijing gives in aid to other countries.
www.bbc.com

EU nations must come together on Chinese investment
. All 28 members of the EU have taken part in this bounty. It is thus high time that member states agree on a common approach toward foreign direct investment
asia.nikkei.com

Think tank forecasts China Q3 growth at 6.8%
China’s economy is predicted to expand 6.8 percent in the third quarter, drawing strength from the country’s supply-side structural reforms, property market recovery and global economic improvements, according to a government think tank report.
www.china.org

IMF raises China growth forecast for 2017 to 6.8 per cent
The International Monetary Fund raised its growth forecast for China on Tuesday but again warned of risks stemming from the build-up of debt in the world’s second largest economy.
www.scmp.com

China’s Government Has More Money Than You Can Imagine
Forex reserves rose by a whopping $17 billion in September to reach a total of $3.109 trillion, following a $10.5 billion increase in August, the PBoC said over the weekend.
www.forbes.com

Understanding China with Data
Over the past 15 years, China’s economy has maintained vigorous double-digit growth, becoming the world’s economic growth driver.
www.globaltimes.cn/content/1069833.shtml

China’s plan for a soft landing hinges on bank lending
‘We think the economy has passed its cyclical peak, and will face increased headwinds from a cooling housing market and reduced fiscal support in 2018’
www.scmp.com

Offshore investors boost holdings of Chinese bonds by US$5.9 billion in September, biggest gain in 12 months
Foreign demand for debt securities comes amid falling yuan and sell-off by domestic investors
www.scmp.com

Alibaba’s value tops US$470 billion, briefly passing Amazon as world’s most valuable merchant as No 2 global PC supplier
Alibaba Group briefly unseated Amazon.com as the world’s most valuable online retailer in US trading on Tuesday.
www.scmp.com

Alibaba tops Amazon to become world’s biggest e-commerce company for first time in two years
The war for global supremacy between Alibaba and Amazon is heating up once again with the Chinese mega-retailer briefly surpassing its American rival to become the world’s biggest e-commerce company.
shanghaiist.com

Jack Ma lays out hopes, vision for Alibaba Damo Academy
Alibaba said it will invest RMB 100 billion (US$15 billion) in the Alibaba DAMO Academy’s research and development over the next several years to attract world-class talent, build partnerships and open research laboratories in seven cities around the globe.
www.alizila.com

Alibaba to spend more than US$15bn on technology research with launch of collaborative academy
E-commerce giant will open seven labs globally as part of project that executive chairman Jack Ma says will also contribute to ‘society and the era’
www.scmp.com

Chinese Overseas Luxury Spenders Turn To Global Payment Card Giant UnionPay For Major Purchases
The payment landscape in China is experiencing a disruptive period as two dominant mobile payment players, WeChat Pay and Alipay, have both gained impressive growth in recent years thanks to the boom in mobile internet and mobile e-commerce. However, the question remains if these platforms are in fact able to shake up the luxury retail industry. According to the Asian Financial Review (AFR), Chinese government-backed UnionPay has a competitive edge when it comes to purchasing luxury goods on mobile.

Chinese Overseas Luxury Spenders Turn To Global Payment Card Giant UnionPay For Major Purchases



Chinese courier companies raise prices ahead of ‘shopping festival’

Two major Chinese courier companies announced price hikes on Tuesday and Wednesday ahead of November 11, which will see China’s largest online shopping festival.
www.chinadaily.com

China to overtake US as top market for digital payments by 2020, report says
Growth in digital transactions in China to reach 36 per cent over the next five years thanks to surging popularity, with the untapped rural markets also pushing up growth rates, report by Capgemini and BNP Paribas says
www.scmp.com

Is funding drying up for China’s internet finance on tighter scrutiny?
Fundraising for internet finance platforms is declining, with the amount raised in September representing a 44pc and 55pc drop from August and July respectively
www.scmp.com

Follow me: Luxury brands turn to social media to connect with customers
Social media, previously seen as too mass market, has become an increasingly important marketing tool for luxury brands
www.scmp.com

Inside home times: Alibaba’s vision of the furniture store of the future

Home Times, a furniture store supported by Alibaba Group technology, has opened for business in the Chinese city of Hangzhou.
www.alizila.com

Lenovo hangs on to No 2 spot as global PC sales beat forecast
Chinese technology giant Lenovo Group held on to its position as the world’s second-largest supplier of personal computers in the third quarter, despite flat shipment growth that saw it struggle with weak notebook sales in North America.
www.scmp.com

US chip giant Qualcomm partners with Chinese start-up to create smart-car lab
The ‘innovation lab’ in Chongqing aims to foster research and development in smart cars connected to the internet of things (IoT)
www.scmp.com

China a powerhouse of innovation: UBS
A research report released recently by UBS recognized the innovation development of China in past five years, and predicts that China will become a global innovation powerhouse thanks to improved education quality, input in research and development and policy support to innovation, Economic Daily reported on Tuesday.
www.ecns.cn/business/2017/10-11/276654.shtml

China’s Free Trade Agreements in South Asia
This article briefly discusses the status of China’s free trade agreement (FTA) talks with the South Asian countries. The talks hold significance for the BRI region, and could lay down the rules and norms that govern the region’s future trade order.

China’s Free Trade Agreements in South Asia

China makes better-than-expected progress in overcapacity cuts
In Hebei province, where the task in cutting overcapacity is tough, 15.72 million tons of steel production capacity and 14.08 million tons of iron were cut in the first half of this year, progressing faster than the same period last year, according to local authorities
www.chinadaily.com

US businesses split over China IP theft
US businesses and trade groups are split over how forcefully to crack down on China over intellectual property theft, with some arguing the country is making progress on its own in enforcing protections and urging the Trump administration to use negotiation instead of punishment
www.chinaeconomicreview.com

Turf wars and risk aversion: China’s pro-market central bank boss ‘leaves note’ to next generation
Institutional obstacles block the country’s path to a freer market and won’t be moved in the short term, analysts say
www.scmp.com

China’s Xi looks set to keep right-hand man on despite age
Chinese President Xi Jinping is likely to retain his right-hand man, the graft-buster Wang Qishan, in a senior position at a key Communist Party Congress this month even though he has reached retirement age, according to a majority of people with ties to the leadership interviewed by Reuters.
www.reuters.com

China to create national name-and-shame system for ‘deadbeat borrowers’
Anyone who fails to repay a bank loan will be blacklisted and have their personal details made public
www.scmp.com

Ruling elite of China’s Communist Party makes final preparations for five-yearly congress
Plenary session of Central Committee will review draft reports on work of party, discipline and anti-corruption
www.scmp.com

China’s Communist Party kicks off key plenary session
asia.nikkei.com

Despite China’s Green Campaign, Air Quality Targets Still Hard to Meet
Chinese government efforts to improve air quality in China have shown mixed results so far .
thediplomat.com

China vows renewed push to help families plunged into poverty by illness
Millions of remote and rural residents still falling through the medical insurance net, official says
www.scmp.com

China names new leaders of anti-corruption agencies at financial regulators

Appointing of new top corruption agency officials comes as Communist Party makes final preparations for a twice-a-decade party congress later this month
www.scmp.com

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Alain Gillard
Information Officer
Awex
Service Asie Pacifique
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a.gillard@awex.be
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