Analyst: China’s Huawei To Exit U.S. Market

Jean Baptiste Su
Forbes
By the end of Huawei's annual analyst summit held this week in its hometown of Shenzhen, China, the world's largest telecommunications equipment maker left no doubt that the U.S. market is no longer part...

China Wages War on Apps Offering News and Jokes

The Economist
Economist
At the end of last year Bytedance, one of China’s most talked-about technology firms, seemed to have the world at its feet.

Exclusive: China Looks to Speed up Chip Plans as U.S. Trade Tensions Boil - Sources

Elias Glenn, Cate Cadell
Reuters
China is looking to accelerate plans to develop its domestic semiconductor market amid a fierce trade stand-off with the United States and a U.S. ban on sales to Chinese phone maker ZTE that has underscored the country’s reliance on imported chips.

Tesla Isn’t Ready to Thrive in China's Embrace

Anjani Trivedi
Bloomberg
The structure of the electric-car market means that it needs a local partner.

Conversation

04.18.18

A Ban on Gay Content, Stopped in Its Tracks

Siodhbhra Parkin, Steven Jiang & more
On April 13, China’s major microblogging platform Sina Weibo announced that, in order to create “a sunny and harmonious” environment, it would remove videos and comics “with pornographic implications, promoting bloody violence, or related to...

Angola: China’s Risky Gamble in Africa

Eric Olander, Cobus van Staden & more
China has loaned Angola an estimated U.S.$60 billion dollars since the two countries established diplomatic relations back in 1983, making it one of the top destinations for Chinese financing in Africa. Angola is especially attractive for the...

U.S. Considered Blacklisting Two Chinese Banks over North Korea Ties

Christian Berthelsen
Bloomberg
U.S. officials alarmed by public displays of Pyongyang’s nuclear and missile technology last summer considered taking the provocative step of blacklisting two of China’s biggest banks from the U.S. financial system for doing business with North...

China Delays Deal Reviews as U.S. Trade Frictions Build

Lingling Wei, Yoko Kubota, Takashi...
Wall Street Journal
Amid escalating trade tensions, China is holding up deal reviews that could clear the way for U.S. companies Qualcomm Inc. and Bain Capital to make multibillion-dollar acquisitions of semiconductor companies, people familiar with the matter say.

Books

04.12.18

China’s Great Wall of Debt

Dinny McMahon
Houghton Mifflin Harcourt: Over the course of a decade spent reporting on the ground in China as a financial journalist, Dinny McMahon gradually came to the conclusion that the widely held belief in China’s inevitable economic ascent is dangerously wrong.In this unprecedented deep dive, McMahon shows how, lurking behind the illusion of prosperity, China’s economic growth has been built on a staggering mountain of debt. While stories of newly built but empty cities, white elephant state projects, and a byzantine shadow banking system have all become a regular fixture in the press in recent years, McMahon goes beyond the headlines to explain how such waste has been allowed to flourish, and why one of the most powerful governments in the world has been at a loss to stop it.Through the stories of ordinary Chinese citizens, McMahon tries to make sense of the unique—and often bizarre—mechanics of the Chinese economy, whether it be the state’s addiction to appropriating land from poor farmers, why a Chinese entrepreneur decided it was cheaper to move his yarn factory to South Carolina, why ambitious Chinese mayors build ghost cities, or why the Chinese bureaucracy was able to stare down Beijing’s attempts to break up the state’s pointless monopoly over the distribution of table salt.Debt, entrenched vested interests, a frenzy of speculation, and an aging population are all pushing China toward an economic reckoning. China’s Great Wall of Debt unravels an incredibly complex and opaque economy, one whose fortunes—for better or worse—will shape the globe like never before.{chop}

Conversation

04.11.18

China’s Communist Party Takes (Even More) Control of the Media

Stanley Rosen, Chris Fenton & more
China’s Communist Party made moves last month to solidify and formalize its (already substantial) control over the country’s media. China’s main state-run broadcasters are to be consolidated into a massive new “Voice of China” under the management...

U.S. Stocks Surge after China’s Xi Eases Trade Fears

David Hodari and Allison Prang
Wall Street Journal
U.S. stocks climbed Tuesday, with the Dow gaining more than 400 points, as remarks from Chinese President Xi Jinping soothed concerns about a trade war that have roiled markets in recent weeks.

China’s Vast Intercontinental Building Plan Is Gaining Momentum

Faseeh Mangi
Bloomberg
China’s massive build program to recreate trade routes stretching from Asia to Africa and Europe is gaining momentum.

Xi Says China to Lower Trade Barriers as Beijing Files Wto Complaint against U.S.

Scott Neuman
NPR
China’s President Xi Jinping says his country will “significantly lower” import tariffs on automobiles as part of a broader move to open up its economy amid a major trade dispute with the U.S.

China Now Has the Most Valuable AI Startup in the World

Bloomberg News
Bloomberg
Facial recognition company in China becomes richest-valued private AI startup.

U.S. Farmers Likely among Hardest Hit by Chinese Tariffs

Frank Morris
NPR
China's retaliatory tariffs may hit farmers harder than any other group...

If There’s a U.S.-China Trade War, China May Have Some ‘Unconventional Weapons’

Neil Irwin
New York Times
There are ways to make life harder for American companies in China that need not be formal, or widely publicized.

Ex-Google Executive Opens a School for AI, with China's Help

Tom Simonite
Wired
Onetime head of Google's operations in China launches a new project to train Chinese AI talents...

Anti-China Tilt in Australia Is Shortsighted

Daniel Moss
Bloomberg
In Australia, Chinese investment is small, but feels large.

Xiaomi Ceo Calls China’s Plan to Lure Tech Listings ‘Excellent’

Bloomberg News
Bloomberg
China’s trial program for encouraging technology giants like Alibaba Group Holding Ltd. to list their shares at home is drawing positive early reviews, a sign their stocks may soon be available in the world’s most populous country.

China Strikes Back at the U.S. With Plans for Its Own Tariffs

Keith Bradsher and Steven Lee Myers
New York Times
China hit back at the United States on Wednesday with proposed tariffs on $50 billion worth of American soybeans, cars, chemicals and other goods, in a move likely to stoke fears that the countries’ escalating confrontation could become an all-out...

China Strikes Back at the U.S. With Plans for Its Own Tariffs

Keith Bradsher and Steven Lee Myers
New York Times
China hit back at the United States on Wednesday with proposed tariffs on $50 billion worth of American soybeans, cars, chemicals and other goods, in a move likely to stoke fears that the countries’ escalating confrontation could become an all-out...

China’s Financial Opening Isn't Quite What It Seems

Andrew Polk
Bloomberg
Although trade tensions between the U.S. and China show no signs of abating, there are some reasons for cautious optimism.

It’s Not Just Facebook: China’s Biggest Tech Company Is Getting Crushed

Daniel Shane
CNN
Tencent (TCEHY) -- the company often referred to as China's Facebook -- has lost more than $70 billion in market value over the past week...

How Clean Indoor Air Is Becoming China's Latest Luxury Must-Have

Helen Roxburgh
Guardian
One luxury hotel in Shanghai is attracting guests with clean filtered air.

‘Black Panther’ Sparks Debate over Anti-Black Racism in China

Eric Olander, Cobus van Staden & more
The seemingly sharp fall in attendance prompted Western media outlets to write a series of articles that suggested Chinese moviegoers objected to Black Panther because of its all-black leading cast. “A torture for the eyes: Chinese moviegoers think...

China’s Attempts to Supplant Dollar Face Historic Difficulties

Mike Bird
Wall Street Journal
The world’s first yuan-denominated oil contracts launched Monday, as part of China’s drive to turn its currency into a global force in markets.

Alibaba Opens Car Vending Machine in China That Gives Free Test Drives for People with Good Social Credit

Thuy Ong
Verge
Alibaba and Ford signed a deal to form a partnership last year that would see both companies working together on new technological opportunities.

The US and China Are in Talks to Try to Avoid a Trade War

Jethro Mullen
CNN
The United States and China are acting tough over trade, but they’re also busy talking to try to stop the situation spiraling out of control.

How China’s Government Has Changed after the NPC

BBC
BBC
A stronger military and more power to fight corruption are among the major changes revealed at China’s National People's Congress (NPC) this year...

China Vows to Open Its Markets Further in Response to Trump’s Tariff Threats

Simon Denyer
Washington Post
China responded to the threat of a massive package of tariffs from the United States by vowing Tuesday to further open its own markets to foreign trade and investment, while warning that a trade war between the two nations would hurt both sides.

The Battle for Digital Supremacy

The Economist
Economist
“DESIGNED by Apple in California. Assembled in China”. For the past decade the words embossed on the back of iPhones have served as shorthand for the technological bargain between the world’s two biggest economies: America supplies the brains and...

Hong Kong’s Judges Voice Fears over China Influence in Judiciary

Greg Torode, James Pomfret
Reuters
As Hong Kong’s judges and senior lawyers paraded in ceremonial wigs and gowns on Jan 8 to mark the start of the legal year, anxieties over China’s growing reach into the city’s vaunted legal system swirled with the wintry winds.

Hard-Charging Chinese Energy Tycoon Falls from Xi Government’s Graces

Alexandra Stevenson
New York Times
A mysterious Chinese buyer surprised the financial world last year when it swooped in to buy a $9 billion chunk of Russia’s state oil company.

China Tech Titan Alibaba Plans Stock-Market Homecoming

Julie Steinberg and Liza Lin
Wall Street Journal
Technology giant Alibaba Group Holding Ltd. is working on a plan to list on a stock exchange in its home market, China, according to people familiar with the matter, more than three years after its blockbuster initial public offering in New York.

China Levies Record $870 Million Fine for Stock Manipulation

Bloomberg News
Bloomberg
China slapped a logistics company with fines totaling 5.5 billion yuan ($870 million) for manipulating the stock market, the biggest ever punishment for such an infringement.

Trump Demands Aides Pump up Anti-China Tariffs

Adam Behsudi and Andrew Restuccia
Politico
President Donald Trump is getting ready to crack down on China. Trump told Cabinet secretaries and top advisers during a meeting at the White House last week that he wanted to soon hit China with steep tariffs and investment restrictions in response...

Honeywell, Other U.S. Companies Look to Benefit from China's Gigantic 'Belt and Road' Initiative

Evelyn Cheng
CNBC
Over 15 U.S. companies called the program an opportunity for business growth.

Trump’s China Whisperer: How Billionaire Stephen Schwarzman Has Sought to Keep the President Close to Beijing

Michael Kranish
Washington Post
This American investor has one of the closest relationships to Beijing.

US’s Tillerson Warns African Nations Not to ‘Forfeit Their Sovereignty’ by Taking Chinese Loans

Justina Crabtree
CNBC
U.S. Secretary of State Rex Tillerson has warned against African nations accepting Chinese cash in agreements which could “forfeit their sovereignty.”

China, Europe Slam Trump’s Tariffs as U.S. Metalworkers Cheer

Wayne Ma, Emre Peker, and Doug Cameron
Wall Street Journal
China and Europe lashed out against new U.S. steel and aluminum tariffs, while officials and executives from several American allies caught in the crossfire reacted more cautiously, embracing what the White House promised would be some flexibility...

Trump Takes the Bait from Musk, Attacks China Auto Import Duties

Dana Hull and Justin Sink
Bloomberg
President Donald Trump may not follow Elon Musk on Twitter, but the Tesla Inc. chief’s posts decrying China’s automotive trade practices managed to catch his attention.

China Protectionism Creates Tech Billionaires Who Protect Xi

Shelly Banjo
Bloomberg
China’s tech giants will add star power to the country’s political festivities this week, paying homage to President Xi Jinping and endorsing constitutional changes for him to remain president indefinitely.

China and the Philippines Will Work Together to Tap the South China Sea’s Vast Oil Deposits

Ralph Jennings
Forbes
China needs fuel to grow the world’s second-largest economy by 6.5% this year as established this week at annual legislative sessions.

The West Is Doing Its Best to Help China

Edward Luce
Financial Times
Most of it is unintentional. Yet the west could not be helping China more if it tried.

Blockchain Is a Surprisingly Hot Topic at China’s Annual Political Gathering

Josh Horwitz
Quartz
Thousands of China’s elites are currently gathered in Beijing for the “two sessions,” the annual meetings for members the National People’s Congress (or NPC, China’s rubber-stamp legislative branch) and the Chinese People’s Political Consultative...

Box Office: Will ‘Black Panther’ Conquer China?

Patrick Brzeski
Hollywood Reporter
At nearly $900 million worldwide and counting, Marvel’s latest is a certified historic hit, but Ryan Coogler’s blockbuster faces a final challenge to “conventional wisdom” in the world's second-largest film market...

Conversation

03.02.18

How Will Trump’s Tariffs Affect U.S.-China Relations?

Derek Scissors, Donald Clarke & more
Arguing that America is harmed by other countries’ trade practices, President Donald Trump said on March 1 that the U.S. will impose a new 25 percent tariff on imported steel and 10 percent tariff on imported aluminum. “People have no idea how badly...

The Brands That Kowtow to China

Richard Bernstein from New York Review of Books
There’s been no joking as the apologies to China have come thick and fast in recent weeks, issued not by teenage singers but by some of the largest and richest multinational corporations in the world—the German luxury car manufacturer Daimler, the...

As Xi Tightens His Grip on China, U.S. Sees Conflict Ahead

Mark Landler
New York Times
A few weeks after Stephen K. Bannon left the White House in August, he was invited to a dinner at the Council on Foreign Relations to discuss American policy toward China.

Why Chinese State Media Love Elon Musk’s Latest Tweets

Jethro Mullen
CNN
The Tesla CEO tweeted out a link to a video about a Chinese rail station that was built in less than 9 hours.

China Box Office Surges 39 Percent in First Two Months of 2018

Patrick Brzeski
Hollywood Reporter
China is once again rapidly closing the gap with North America, still narrowly the world’s largest film market.

A Social Media Tycoon Is Now China’s Richest Man

Daniel Shane
CNN
Tencent CEO Ma Huateng is the country’s highest-ranked person on the Global Rich List published Wednesday by Shanghai-based wealth research firm Hurun Report.

An Anbang-Linked Revolutionary Heir Dies in China. Speculation Begins.

Josh Chin and Eva Dou
Wall Street Journal
The sudden death of a revolutionary scion linked to troubled Chinese insurer Anbang Insurance Group Co. is reverberating through China’s battered private business community.

China Energy Group Bonds Crash after Detention Report

Lucy Hornby and Archie Zhang
Financial Times
Bonds of mysterious Chinese energy firm CEFC crashed on Thursday amid reports that its chairman Ye Jianming had been detained, complicating its deal to buy a $9bn stake in Russian oil company Rosneft.

China Spends $279 bln on R&D in 2017: Science Minister

Reuters Staff
Reuters
China’s total spending on research and development is estimated to have hit 1.76 trillion yuan ($279 billion) last year, China’s science minister said on Monday, a year-on-year increase of 14 percent.

Chinese Capital Dangles Carrots to Lure Foreign Talent to Its Silicon Valley

Reuters Staff
Reuters
Beijing, a major hub for artificial intelligence (AI) and semiconductors in China, is touting a new list of incentives to try and bait foreign talent for its equivalent of Silicon Valley in the Chinese capital.

Hong Kong Millionaire’s Arrest Exposes Chinese Corruption in Africa

Eric Olander, Cobus van Staden & more
Former Hong Kong Secretary for Home Affairs Patrick Ho Chi-ping pleaded not guilty last month to corruption charges brought by a U.S. federal court in New York after he was accused of offering bribes worth a total of U.S.$2.9 million to prominent...

Viewpoint

02.15.18

A Clash of Cyber Civilizations

Geoffrey Hoffman
There has been little need for the term “cyber sovereignty” among democratic states: the Internet, by its nature, operates under an aegis of freedom and cooperation. However, as the international system slips away from American unipolarity, a...

Chinese New Year Means a Spending Spree across East Asia

Xin En Lee
CNBC
The Lunar New Year, which kicks off on Feb. 16, is East Asia’s most important holiday season.

In China, Flashy Logos Are Making a Comeback as a Status Symbol

Yiling Pan
Quartz
Over the past few seasons, logos have made a return to the runway. Even in China, where the industry consensus was that countless fakes and shallow status projection had created serious logo fatigue, people are no longer ashamed to flash luxury...