China Press Review – September 3, 2018

Press review

China’s manufacturing growth hits lowest level in over a year
Latest data reinforces worries that economy will continue to slow
www.scmp.com

Will Japan Go Against U.S. And Sign China’s ‘Free Trade’ Deal?
Will China and Japan ink a free-trade deal? If so, it would be a Beijing rope-a-dope to Washington, creating the biggest free trade zone in Asia. The South China Morning Post (SCMP) of Hong Kong reported Monday that the two sides — Japan and China — were discussing a free trade arrangement.
www.forbes.com

US trade war and Japan push raise prospects for China-backed Asia free-trade deal
Beijing urgently needs to get an agreement to help weather Washington’s tariffs, analyst says
www.scmp.com

Xi Jinping denies China is spending money on African ‘vanity projects’
Chinese President tells African leaders that infrastructure projects on continent are designed to remove main barriers to development
www.scmp.com

podcast : Why is China pouring money into Africa?
The Chinese government has ramped up investment in the continent but some are worried that China is just exporting industries it no longer wants.
www.bbc.co.uk/news/av/world-africa-45361053/why-is-china-pouring-money-into-africa

Should Africa be wary of Chinese debt?
African countries have shown a healthy appetite for Chinese loans but some experts now worry that the continent is gorging on debt, and could soon choke.
www.bbc.co.uk/news/world-africa-45368092

Beijing set to pledge billions more for Africa despite concerns over Chinese lending
President to address African nations in Beijing on Monday at the Forum on China-Africa Cooperation, with financing and his ‘Belt and Road Initiative’ on agenda
www.scmp.com

Xi delivers speech at 2018 FOCAC Beijing Summit

Chinese President Xi Jinping started to deliver a keynote speech Monday afternoon at the opening ceremony of the 2018 Beijing Summit of the Forum on China-Africa Cooperation (FOCAC)
www.ecns.cn/news/politics/2018-09-03/detail-ifyxpqun1873266.shtml

China’s Xi pledges $60 billion to Africa, says ‘no strings attached’
Chinese President Xi Jinping on Monday pledged $60 billion in financing for projects in Africa in the form of assistance, investment and loans, as China furthers efforts to link the continent’s economic prospects to its own.
www.france24.com

Chinese Aid and Investment Are Good for Africa
Increased interest in the continent’s real estate and resources will enhance the bargaining power of governments there—but they need to bargain for the right things.
Chinese Aid and Investment Are Good for Africa

China is generous in promising billions to Africa but is tough in redeeming pledges
‘Many an African private operator has been shocked to discover that their counterparts in the Chinese private sector won’t move a muscle unless the former can bring their governments to the table.’
qz.com

Trade war: China will not help US with currency devaluation to reduce deficit

Common sense lacking in Washington, says Beijing’s ambassador as tensions escalate
www.scmp.com

Bank of Japan braces for trade war’s collateral damage
US-China friction gives central bank more to consider beyond inflation
asia.nikkei.com

China Party journal warns of trade war’s impact on financial stability
A Chinese Communist Party journal said on Saturday that the country may experience near-term pain from trade friction with the United States, including a negative impact on financial stability, but China’s stable growth trend would not change.
www.reuters.com

PBOC adviser warns against rapid deterioration of corporate debt quality
Ma Jun, chairman and president of the Hong Kong Green Finance Association, says there is now a growing need for Beijing to think of ways of preventing risk from accelerating too quickly
www.scmp.com

Study of Portuguese and Spanish explodes as China expands role in Latin America
Record numbers are doing so, wagering it will guarantee them work as diplomats, interpreters or lawyers for Chinese ministries or firms
www.scmp.com

Negotiating with Chinese Companies: How You are Viewed and How You Should Respond
In a very short and very helpful video — The big secret in Chinese/Western negotiations? — China negotiation expert Andrew Hupert explains two things of which you should be aware when negotiating with Chinese companies.

Negotiating with Chinese Companies: How You are Viewed and How You Should Respond

China’s Blackwater-Style Private Armies
The upcoming spread of China’s private armies in territories of Xi Jinping’s expanding Belt and Road Initiative appears about to become as profitable as buying host countries on the cheap through massive loans for infrastructure that tie them to Beijing’s political interests.

China’s Blackwater-Style Private Armies

China’s grand ambition may not be a road to riches for its partners
Five years ago this week, President Xi launched the Belt and Road Initiative, a 21st century reincarnation of the ancient Silk Road or network of caravan trails and trade routes that once linked western China with the Mediterranean. The Belt and Road is China’s signature foreign policy for the “new era”. For China, it is a new model of economic development based on the financing and construction of infrastructure and win-win outcomes of mutual co-operation and prosperity. For many others, though, it is a geographically incoherent, China-centric strategy to spread the country’s global footprint, raising serious questions about indebtedness, political interference and even colonialism. The initiative is, on paper, a substantial connectivity project comprising trade, financial, cultural and educational links and, above all, loans for…
www.thetimes.co.uk/article/china-s-grand-ambition-may-not-be-a-road-to-riches-for-its-partners-jjsmxcmh6

Chinese cargo ship sails to Europe through ‘Polar Silk Road’ on maiden voyage
A Chinese cargo ship built to plow through icy waters on Saturday successfully sailed out of the Arctic Circle to complete its first voyage within the circle.
www.ecns.cn/news/economy/2018-09-03/detail-ifyxpqun1872570.shtml

Alibaba close to signing joint venture with Russian partners
Mail.ru deal comes as China’s vision of a ‘digital silk road’ across Eurasia takes shape
asia.nikkei.com

podcast : China’s Belt and Road Ambitions
China is in the midst of the largest, and most ambitious, infrastructure project in modern history. President Xi Jinping’s trillion-dollar Belt and Road Initiative spans three continents and will touch nearly 60 percent of the world’s population. Bloomberg’s Stephen Engle takes a look at Beijing’s plans to become the next global trade superpower.
www.bloomberg.com

China’s economic struggles aside, emerging markets aren’t faring so badly

Nicholas Spiro says the poor performances of emerging markets are largely due to a handful of examples, like Turkey and Argentina’s collapsing currencies and China’s trade-war-driven slowdown. Others, like India, Taiwan and especially Mexico, have displayed strength
www.scmp.com

HNA’s debt shrinks for the first time as one of China’s biggest asset buyers reverses course

Though HNA Group managed to reduce one of China’s biggest debt piles by selling dozens of assets, the embattled Chinese conglomerate will probably need to get much slimmer before regaining the trust of investors.
www.scmp.com

The smart technology turning China’s illiterate late bloomers into digital natives
Up until now, people without an understanding of Chinese characters and the romanised writing system pinyin have been locked out online
www.scmp.com

Alibaba leads China’s drive to secure new blockchain technologies
Alibaba Group Holding has filed more than 10 per cent of the world’s patent applications for blockchain in a sign of China’s ambitions to dominate the next generation technology in uses beyond cryptocurrencies.
asia.nikkei.com

China takes 57 of 100 spots in global top 100 blockchain patent ranking

China’s blockchain crazy is in full swing and a recent report from IPRdaily sheds more light on the trend. Chinese firms took 57 spots in a newly compiled “Top-100 Blockchain Enterprise Patent Rankings” list, according to the global intellectual property information media outlet. Chinese and American companies feature prominently on the list. Thirty-six companies around the world have over 20 public patent applications related to blockchain.

China takes 57 of 100 spots in global top 100 blockchain patent ranking

Exclusive: LVMH-owned Hennessy Signs New Deal with Alibaba
LVMH-owned wine and spirits maison Moët Hennessy today signed a strategic partnership with Tmall, the business-to-consumer marketplace owned by China’s largest e-commerce platform, Alibaba. The collaboration is a part of Moët Hennessy’s efforts to step up its offerings in the fast-growing market as consumers’ demand for luxury liquors is picking up.

Exclusive: LVMH-owned Hennessy Signs New Deal with Alibaba

Luxury goods and the World Cup draw Chinese tourists as Russia and Europe top Alipay spending chart
Mobile payments providers like Alipay and WeChat Pay have been stepping up global expansion plans to tap the millions of Chinese tourists travelling overseas
www.scmp.com

China’s leveraged asset buyers must now brace for discounts in their forced fire sales
China Energy Finance Corporation (CEFC), the biggest Chinese investor in the Czech Republic, will be bailed out from its debt-fuelled shopping spree in Europe with a haircut, the first of a trio of mainland asset buyers that are being forced into holding fire sales for their acquisitions.
www.scmp.com

Chongqing City To Set Up US$7.3B Fund To Boost Semiconductor Industry
The city of Chongqing is planning to establish a RMB50 billion (US$7.3 billion) fund to strengthen the local semiconductor industry, according to state-run media outlet Xinhua News Agency. The fund will give up to RMB20 million (US$2.92 million) to integrated circuit project in which an investment of up to RMB500 million (US$7.30 million) has been committed

Chongqing City To Set Up US$7.3B Fund To Boost Semiconductor Industry

China steelmaker closed again after flouting order to halt: Xinhua
A steelmaker in eastern China has been shut for a second time and local authorities reprimanded after the company resumed production without permission having been told to close due to environmental violations, Xinhua reported on Saturday.
www.reuters.com

African swine fever disrupts China pig trade as sixth case leads to ban
Farmers, slaughterhouses, processors all suffer as transport of live hogs shuts down in affected regions
www.scmp.com

Why China’s Migrants Can’t Just Leave Poverty Behind
Rural migrants have flooded China’s cities in search of a better life, but have found exploitation instead.
www.sixthtone.com

Chinese investors expect a turnaround in the beaten-down stock market, survey shows
Seventy-three percent of roughly 200 investment professionals in Shanghai and Beijing said in August that they predicted positive returns for mainland Chinese stocks, a J.P. Morgan survey showed.
www.cnbc.com

China’s mega banks are boasting higher profits, but investors still aren’t buying their stocks
The latest earnings reports from China’s big four banks showed improvements across key financial metrics, but some investors remain worried that things could get worse for lenders in the world’s second-largest economy.
www.cnbc.com

JD.com in social media spotlight after founder Richard Liu’s arrest and release in US
JD.com founder Richard Liu Qiangdong was arrested for alleged sexual misconduct in Minnesota, where he was attending a business programme
www.scmp.com

Confidence or arrogance? For Chinese propaganda, it’s a fine line
President Xi Jinping has demonstrated his grip on power is as tight as ever. But not everything is business as usual – on some policies, there has been an interesting change of tone
www.scmp.com

Why China’s overseas students find things aren’t always better back home
More Chinese than ever before are studying overseas, but when they return many struggle to find jobs that satisfy their high aspirations
www.scmp.com

China’s lost little emperors… how the ‘one-child policy’ will haunt the country for decades
Encouraging people to have more children is an abrupt reversal of the previous policy
www.theguardian.com

Hundreds clash with police amid protests over school campus switch in China
Dozens of police officers wounded in protest over order to relocate pupils to ease squeeze on education system
www.scmp.com

ABC website falls foul of Chinese censors after row over Beijing’s role in Australian politics
Australian state broadcaster blocked amid strained relations between the two countries
www.scmp.com

China’s kung fu bullfighters dismiss cruelty claims as ancient martial art booms
Despite concerns from animal rights activists, practitioners of the centuries-old form of animal wrestling are keen to showcase their skills
www.scmp.com

—————————————–
Alain Gillard
Information Officer
Awex
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a.gillard@awex.be
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