China Press Review – September 7, 2017

Press review

Is China’s Economy Growing As Fast As China’s GDP?
One of the most frustrating aspects of any discussion about China’s economic prospects is in the confused way with which economists and analysts, who often seem to suffer from what Giuseppe Gabusi calls “GDPism,” employ the concept of GDP. We all think we know what the term is supposed to mean. It is generally assumed that GDP is the total value of all goods and services produced by an economy, so we think of it as a measure of wealth or as a measure of debt-servicing capacity, and we assume that it is a measure that can be compared across countries.

China’s widening trade surplus remains a red flag for Trump
Donald Trump is threatening to stop trade with any country doing business with North Korea.

China Sees Outbound M&A Deal Value Drop 43% To $142 Billion

Chines outbound mergers and acquisitions (M&A) deal value declined to US$80.7 billion year-to-date, down 43% from US$141.6 billion during the same period last year, as the Chinese government’s efforts to curb capital outflow continue to pressure China’s outbound deal-making.

China Sees Outbound M&A Deal Value Drop 43% To $142 Billion

China’s forex numbers see continuing rise
China’s foreign exchange reserves in August increased for the seventh consecutive month, adding evidence for a stabilizing trend of the country’s cross-border capital flows. The data showed an increase of $10.8 billion to a total of $3.09 trillion at the end of August, central bank data showed on Thursday.

China’s forex reserves, yuan on the up but slower growth ‘may lie ahead’

Former official warns currency’s rise in recent months may have been too fast

China’s shift to city-led growth
China has achieved some four decades of rapid economic growth. But one powerful source of growth has yet to be fully tapped: urbanization. Now, the potential of megacities as an engine of dynamism and increased prosperity is finally getting the high-level attention it deserves.

China backs its baby formula, but consumers aren’t convinced
State-run TV in China has run a report saying Chinese baby milk powder is as good and sometimes superior to foreign brands, but internet users have cast doubts over its conclusions.

Revitalizing China’s Rust Belt: Incentives for Businesses and Expats
The Northeast region, known as Dongbei in Chinese, consists of three provinces: Liaoning, Jilin, and Heilongjiang, which neighbor Russia and North Korea. The region has rich natural resources, vast forest areas, and fertile soil for agriculture. However, it is experiencing an exodus of young talent and professionals, an economic slowdown, a decline in investment, and an aging population.

Revitalizing China’s Rust Belt: Incentives for Businesses and Expats

Moody’s downgrades China’s Bank of Communications on profit pressure
Moody’s Investors Service downgraded China’s fifth-largest listed state-owned lender Bank of Communications (BoCom) on Thursday, citing the impact of higher market funding cost on profitability.

China’s Banking Transformation The Untold Story
In this timely and provocative book, James Stent, a banker with decades of experience in Asian banking and fluency in Chinese language, explains how Chinese banks work, analyzes their strengths and weaknesses, and sets forth the challenges they face in a slowing economy. Without minimizing the real issues Chinese banks face, China’s Banking Transformation challenges negative media accounts and reports of “China bears.” Based on his 13 years of service on the boards of China Minsheng Bank, a privately owned listed bank, and China Everbright Bank, a state-controlled listed bank, the author brings the informed view of an insider to the reality of Chinese banking.

These Are China’s Shadow-Lending Hotspots
The highest concentration of shadow loans in China is to be found in its slowest-growing province, a study by UBS Group AG shows.

Huawei surpasses Apple to become second largest smartphone brand
Chinese leading smartphone maker Huawei has overtaken Apple in global smartphone sales since June to become the world’s second-largest smartphone brand, next only to Samsung, according to the latest report by consulting firm Counterpoint Research.

Boeing tips China to need $1.1 tn new planes over next 20 years
Boeing says China will need more than a trillion dollars-worth of new airplanes over the next two decades as the cash-rich middle class grows and infrastructure projects pick up.

Boeing tips China to need $1.1 tn new planes over next 20 years

Alibaba-backed Best Logistics sets IPO price range for US$932m New York listing
China is the world’s largest delivery service market, with parcel volumes accounting for 40 per cent of the world’s in 2016

What is next for Hong Kong after its first billion-dollar start-up?

City’s start-up community needs support from a bigger pool of funding resources, while it should sharpen its focus on building an international business, industry experts say

Investors turn cautious towards Chinese bonds after second month of Bond Connect
Some investors adopt a wait-and-see approach as the Bond Connect enters into its third month of operation

China clothes sharing start-up YCloset secures US$50m in new funds
YCloset, a Chinese clothes sharing platform where users pay a monthly subscription fee to rent clothes and accessories, has completed a US$50 million fundraising round led by Alibaba Innovation Ventures, Softbank China and Sequoia China.

How China’s answer to Silicon Valley attracts young talent
Big paychecks, free dinners, affordable mortgages await Tencent staff in Shenzhen

Xi Jinping’s top graft-buster back in the public eye for tribute to father-in-law
Normally low-profile Wang Qishan makes a rare public appearance to pay homage to late vice-premier Yao Yilin

China hints at tougher UN sanctions on North Korea
Beijing might support partial ban on oil supplies to neighbour in aftermath of nuclear test, analysts say

China’s Mars base plan revealed … and covering 95,000 sq km, there’s certainly plenty of space

Scientists, government officials agree blueprint for development of ambitious project on Qinghai plateau

Alain Gillard
Information Officer
Service Asie Pacifique
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