China Press Review – October 12, 2018

Press review

China’s trade surplus with US hits record high of US$34 billion as trade war rages on
Exports grow faster than expected in September as new US tariffs on US$200 billion of Chinese goods yet to bite, analysts say
www.scmp.com

What trade war? China racks up a record $34.13 billion surplus on the USA
China recorded a record trade surplus of $34.13 billion with the U.S. in September amid intense trade tensions between the world’s two largest economies. Economists say strong Chinese export data recently is due to exporters benefiting from increased orders before U.S. tariffs hit, but the figures are likely to show stress in the months ahead.
www.cnbc.com

Trade war, rising interest rates call for caution, even though global growth looks strong
Patrik Schowitz says with the US and China digging in for a prolonged trade fight and central banks tightening monetary policy, caution is needed and investors should cast a prudent eye over their portfolios
www.scmp.com

The Yuan Is Asia’s Weakest Currency
Shanghai Composite Index reverses loss in afternoon trading China September export growth beats forecasts, imports robust
www.bloomberg.com

China’s plummeting stocks raise fears that market is early casualty in trade war
After several months of rising US tariffs, a stock market rout has brought the Shanghai benchmark index to a four-year low
www.scmp.com

China shrugs off weak markets with $3 billion dollar bond sale
China has sold $3 billion of sovereign dollar bonds, its third such sale in the last 14 years and the first one with a 30-year tranche, drawing healthy investor demand against a backdrop of global market turmoil and a trade war with the United States.
uk.reuters.com

Trump and China’s Xi to meet in bid to end trade war tensions
President Trump and Chinese leader Xi Jinping have agreed to meet next month at the G-20 summit in Buenos Aires in hopes of resolving their intensifying trade conflict, according to three people briefed on the arrangement who spoke on the condition of anonymity because they were not authorized to speak to reporters.
www.washingtonpost.com

Why Germany Is Betting on Trade With China
An investment push is bringing the countries closer together in spite of — and because of — rising trade tensions with the U.S.
www.bloomberg.com

US curbs China nuclear exports as Trump warns that Americans are not ‘stupid’
US ‘cannot ignore national security implications’ of supplying China with nuclear technology any longer, Energy Secretary Rick Perry said
www.scmp.com

Five Eyes intelligence alliance expands coalition to counter China’s foreign influence
English-speaking alliance starts sharing intelligence with major allies such as Germany and Japan as concern over foreign interference grows
www.scmp.com

Is China about to let the yuan weaken below seven to the dollar?
After years of ensuring its currency never breached the magical mark, analysts say Beijing might finally be ready to let go
www.scmp.com

China central bank chief meets Mnuchin amid trade tensions, stock plunge
US Treasury Secretary quoted as saying his department was monitoring currency issues ‘very carefully’, noting the renminbi had fallen ‘significantly’ this year
www.scmp.com

Japanese PM Abe to make rare China visit this month
Shinzo Abe will pay the first visit to China by a Japanese prime minister since 2011 later this month, Beijing announced Friday, in the latest sign of warming ties between the rivals
www.geo.tv

US-China trade war casts long shadow over IMF meeting
Delegates to annual summit in Bali express concern about impact of conflict between the world’s two largest economies
www.scmp.com

Commentary: China’s push for a more open Eurasia
Eurasian cooperation has a huge potential considering its combined landmass, population and economic scale. From the first stop of Li’s trip in Tajikistan to the last leg Belgium, Eurasian countries are a treasure of multi-ethic civilizations at different development stages that share the common aim of development.
www.xinhuanet.com

China’s central bank recruiting cryptography experts to help develop its own digital money
PBOC is leading the world in the development of a sovereign virtual currency that is cheaper to handle and easier to trace
www.scmp.com

Deepening reform only path for China’s rise
In the medium and long term, China must deepen market-oriented reforms, accelerate industrial upgrading and strengthen the advantages of its industrial chain.
www.globaltimes.cn/content/1122587.shtml

How Poor Branding is Holding Chinese Companies Back Abroad
As domestic competition mounts, some Chinese brands are taking aim at international markets, but their strategies remain a work in progress
www.sixthtone.com

Chinese tech stocks feel early winter chill
Equity markets around the world have had a rough week, but Chinese tech stocks seem to be having a particularly painful time.

Chinese tech stocks feel early winter chill

Why foreign startups shy away from China
Many dynamic Israeli and European tech startups closely observe these developments and wait for Chinese institutional investors to extend a helping hand and guide them into their ecosystem. Some serious Chinese players will have to be more deeply committed to this cause to create the first visible success stories.

Why foreign startups shy away from China

JACK MA: THE THREE ES OF DIGITAL DEVELOPMENT
Alibaba Group’s mission to make it easy to business anywhere has provided small businesses in China with the country’s most efficient path to profits, but is that model exportable to countries in Africa and South Asia for their own digital development?
www.alizila.com

TMALL FORMS MARKET RESEARCH ALLIANCE TO BOLSTER R&D FOR BRANDS
Tmall’s dedicated research and development arm, Tmall Innovation Center (TMIC), has joined forces with some of the world’s leading market research consultancies to help brands power up in-house innovation and product development.
www.alizila.com

Alibaba Merges Ele.me And Koubei To Compete With Meituan
Chinese e-commerce giant Alibaba Group Holding Limited said today it is merging its food delivery unit Ele.me and in-store consumption, to compete with Meituan Dianping for dominance in China’s growing on-demand services market.
www.chinamoneynetwork.com

Alibaba Attacks Didi As Its Bike Sharing Firm Hello Chuxing Launches Taxi Hailing Service
Chinese bike sharing company Hello Chuxing, with Ant Financial its largest shareholder, announced today that has launched ride hailing services.

Alibaba Attacks Didi As Its Bike Sharing Firm Hello Chuxing Launches Taxi Hailing Service

Chinese Venture Investors Inject Billions In E-Signature Start-Ups
Chinese venture investors are betting billions on e-signature start-ups, hoping to fund China’s own DocuSign in the country’s fast-growing but under-penetrated e-signature market.

Chinese Venture Investors Inject Billions In E-Signature Start-Ups

City courts handle “Belt and Road” cases
Shanghai courts have finished 2,464 cases involving the “Belt and Road” countries and regions in five years, according to Shanghai Higher People’s Court.
www.shine.cn/news/metro/1810123346/

France Sounds Cautious Note on China’s Belt and Road Initiative
China’s Belt and Road initiative raises questions about economic stability for recipient countries and access for European businesses, the French Treasury said Thursday in a report, highlighting diverging European views as Italy seeks to participate in the massive spending program. The report said the sustainability of finances provided by China is “uncertain” and economic benefits for Europe will depend on how open China is. The infrastructure initiative aims to boost trade and transportation throughout Eurasia.

China or Vietnam for Product Sourcing?
Vietnam’s fragmented manufacturing industry makes it harder to identify suitable suppliers, especially for those new to Vietnam. Lack of basic infrastructure is a main cause of this fragmentation. Contrast that with China where you can find just about anything you want – and usually more than a handful of viable options that aren’t too far away from where you need them. With well-paved roads, 7 of the world’s 10 busiest shipping ports, and a massive network of high-speed and commercial rail lines, infrastructure in China is extremely well established

China or Vietnam for Product Sourcing?


www.bloomberg.com

Chinese subsidy backlog ‘leaves solar projects facing bankruptcy’
Rapid growth in the sector causes finance ministry to struggle to keep up with payments to help renewable energy compete with cheaper coal
www.scmp.com

As China Hunts For New Cures, Investors Flood U.S. Biotech Firms With Cash
China’s government is hoping that the increased investments can help to entice more foreign companies to bring their products, services and expertise to the world’s second-largest economy. Although the escalating China-U.S. trade fight is adding fresh uncertainties to bilateral investment, the tension hasn’t spilled over into the biotech industry so far.
www.forbes.com

‘US could sell its aircraft carriers to China to cut deficit’ – Beijing rebukes ‘tired’ Mike Pence
Official news agency Xinhua runs combative opinion pieces in response to US vice-president’s accusations
www.scmp.com

Vanished Chinese oil tycoon linked to senior official’s bribery case
State television report into trial of former Gansu party chief Wang Sunyun discloses that he was accused of taking bribes from Ye Jianming, the former head of CEFC China, who disappeared earlier this year
www.scmp.com

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Alain Gillard
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Awex
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