China Press Review – October 25, 2018

Press review

How China can turn the trade war into a ‘strategic opportunity’ to ascend to global leadership
Ni Tao says the strategist behind China’s ‘peaceful rise’ is back with a new theory: Beijing can seize an opportunity to lead the next phase of globalisation
www.scmp.com

Beijing ‘snubbed’ Mike Pompeo. Now it wants to show ‘a friendlier China’
Some Chinese officials did not agree with the way US secretary of state’s visit was handled, according to person familiar with the matter Defence chief will seek to reassure US, Southeast Asian neighbours that China won’t become a threat in speech at security forum
www.scmp.com

China’s reform and opening up can keep delivering ‘miracles’, says Xi Jinping
In Shenzhen, transformed by opening up four decades ago, president vows the policy ‘will never stop’ SMEs are indispensable and can get big things done, he says
www.scmp.com

China’s Xi Jinping hails his free-trade zone policy as a milestone in country’s reform
Leader’s endorsement of FTZ policy delivered at high-level forum to mark fifth anniversary of Shanghai free-trade zone Xi reassures the nation of Beijing’s commitment to opening up amid an ongoing trade war
www.scmp.com

China invites Japan along belt and road as Shinzo Abe makes landmark trip to Beijing
Japanese prime minister pledges to elevate bilateral relationship to a ‘new dimension’
Beijing and Tokyo must work together as ‘problems that cannot be resolved by one country alone multiply
www.scmp.com

Trade war will drive Chinese investment in Asean to US$500 billion by 2035, think tank says
Conflict between Beijing and Washington will be catalyst for closer ties within region, Asean+3 Macroeconomic Research Office forecasts Asean’s investment in China set to rise to US$200 billion over next 17 years
www.scmp.com

The past, present and future of SOE reform in China
The reform of state-owned enterprises (SOEs) has been a core element of China’s economic reform process over the past 40 years. SOEs formed the backbone of China’s economy during the central planning era. Their transformation is among the most prominent changes to China’s enterprise system — changes that have been taking place in tandem with other institutional and policy reforms as China transitions to a market-based economy. Market-oriented development has progressed with a reduction in the scope of the SOE sector in the economy.

The past, present and future of SOE reform in China

China liquidates US$4 billion funds, leaving investors asking why
Scrutiny of state-linked funds has increased as investors attempt to gauge how Beijing will react to country’s deepest equity sell off since 2015
www.scmp.com

Tencent QR code payment service for public transport hits 50 million users across 100 cities
Tencent’s QR code payment service for public transportation “sao yi sao” (扫一扫) has reached more than 50 million users across 100 cities since its launch in 2017

Tencent QR code payment service for public transport hits 50 million users across 100 cities

Hong Kong halts e-wallet auto top-ups after user reports of missing funds
In a major disruption to the city’s plan to develop into a smart banking centre, the HKMA says it has ordered the shutdown of top-up features using the Faster Payment System to Octopus and other stored value cards
www.scmp.com

Chinese E-Commerce Tycoon Richard Liu Forays Into PE Field With A Minority Stake
Chinese internet tycoon Richard Liu, the founder of the country’s e-commerce giant JD.com, has leaped into the private equity field with a minority stake in a newly-registered Chinese private equity fund manager. Liu has taken over 20% stake in Jinghedu Equity Investment Management (JHD Investment) through a subsidiary completely-owned by Jiangsu Jingdong Bangneng Investment Management, a Chinese investment management service provider where Liu also has 45% holding.

Chinese E-Commerce Tycoon Richard Liu Forays Into PE Field With A Minority Stake

China’s Economy Has Reached A Tipping Point
US trade war tensions are wrecking the Chinese economy. European and Asian nations are after Chinese market share. Global markets and international geopolitics are at stake.
seekingalpha.com

podcast : Trade War Impact on U.S. Could Be Greater Than on China, Moody’s Analytics Says
Steven Cochrane, chief APAC economist at Moody’s Analytics, talks about the trade dispute between the U.S. and China, and the implications for the two economies. He speaks with Haidi Stroud-Watts on “Bloomberg Daybreak: Asia.”
www.bloomberg.com

China lists top 100 outstanding private entrepreneurs
It not only includes star entrepreneurs who routinely top China’s rich lists, such as Alibaba chairman Jack Ma, Tencent chairman and CEO Pony Ma and chairman of Evergrande Group Xu Jiayin, or Hui Ka Yan, but also spotlights business leaders who have retreated behind or even passed away as long as they once played emblematic roles in China’s private economic development.
usa.chinadaily.com

Tencent QR code payment service for public transport hits 50 million users across 100 cities
Tencent’s QR code payment service for public transportation “sao yi sao” (扫一扫) has reached more than 50 million users across 100 cities since its launch in 2017

Tencent QR code payment service for public transport hits 50 million users across 100 cities

THE CHINA OPPORTUNITY BEGS A DIGITAL EVOLUTION FOR LUXURY BRANDS
Chinese consumers are becoming a growth engine for the global luxury market. The online shift of their luxury spending presents significant opportunities for brands willing to embrace a digital transformation.
www.alizila.com

China cutting rare earth output, unnerving global manufacturers
Production reduced to lowest in five years, enough for only domestic buyers
asia.nikkei.com

China’s Mega City Clusters: Jing-Jin-Ji, Yangzte River Delta, Pearl River Delta
The Beijing-Tianjin-Hebei region (Jing-Jin-Ji), the Yangtze River Delta (YRD), and the Pearl River Delta Greater Bay Area (PRD) will be developed by China as three world-class city clusters.
www.china-briefing.com

Hong Kong Connects to the Mainland
Is this engineering or politics?

Hong Kong Connects to the Mainland

Why Hong Kong needs fewer bridges to nowhere and more escalators, lifts and footbridges
The global media is quoting the cost of the bridge at US$20 billion (HK$160 billion) but we have no idea if this is accurate, as the Chinese government has not released the total cost. We do know that Hong Kong has put a whopping HK$120 billion into the project – eight times more than originally expected. If Hong Kong’s share of the cost is 75 per cent, we have a right to be cross, for the bridge has little economic merit.
www.scmp.com

China’s counterterrorism teams ‘must work together’ to keep mega bridge safe, expert says
Soldiers and armed police from China’s mainland expected to work with specialist teams from Hong Kong and Macau 55km span forecast to carry 29,000 vehicles a day by 2030
www.scmp.com

US-China war very likely in 15 years, retired US general Ben Hodges tells security forum
The ex-general urged Europe to try more to look after its own defences because the US needed to focus on the Pacific and ‘the Chinese threat’
www.scmp.com

Trump’s iPhone, suggests he get a Huawei instead
Trump should get a Huawei phone if he is concerned about security of his iPhone, Chinese foreign ministry spokeswoman said Chinese government spokeswoman dismissed New York Times report about Chinese spying as ‘fake news’
www.scmp.com

Chinese and Russian spies eavesdrop on Donald Trump’s mobile phone calls, report says
Aides have tried to pressure Trump into using his secure White House landline more often
www.scmp.com

Falling stars challenge: China’s twist on the young rich millennial meme
One of the hottest online trends of the summer – the #fallingstarschallenge – has now made an appearance in China and it is inevitably being reinvented by Chinese millennials who never pass up an opportunity for parody.
www.bbc.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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