‘Dunkirk’ Conquers China's Box Office

Gaochang Zhang
Los Angeles Times
The World War II rescue tale “Dunkirk” dominated the box office in China last week, building on its international success.

China’s Former Richest Man Now Banned from Hong Kong’s Business World

Sophia Yan
CNBC
Chinese entrepreneur Li Hejun, who briefly held the title of China’s richest man, was just banned from Hong Kong’s business world.A Hong Kong court ruled to disqualify Li from being a director or being involved with the management of any Hong Kong...

Google Continues to Hire in China Even as Search Remains Blocked

David Ramli
Bloomberg
Google’s search service may be banned in China but parent Alphabet Inc. is hunting for workers in a further sign it has ambitions in the world’s biggest internet market.

China's HNA Group Sues Exiled Chinese Businessman

Julie Steinberg and Carolyn Cui
Wall Street Journal
One of China’s most acquisitive companies is suing an exiled Chinese businessman for allegedly spreading what it says are falsehoods that have hurt the conglomerate’s reputation and financial interests.

China Realizes It Needs Foreign Companies

Christopher Balding
Bloomberg
China is increasingly desperate for foreign investment. Yet foreign companies are less and less interested in what it has to offer. How this problem gets resolved may be one of the most important questions facing China's economy...

David Tang, Fashion Retailer and Raconteur, Dies at 63

Keith Bradsher and Elizabeth Paton
New York Times
David Tang, the founder of Shanghai Tang, a global chain of flashy emporiums of Chinese-inspired clothing, accessories and home furnishings, and a prominent writer and raconteur in Hong Kong and Britain, died on Tuesday in London. He was 63.

China Can Squeeze Its Neighbors When It Wants. Ask South Korea

Jethro Mullen
CNN
South Korean businesses have been suffering since early this year after the country angered the Chinese government with the deployment of a U.S. missile defense system. The victims include companies in tourism and retail, but also Hyundai (HYMTF),...

Green Gold: How China Quietly Grew into a Cannabis Superpower

Stephen Chen
South China Morning Post
Every year in April, Jiang Xingquan sets aside part of his farm in northern China to grow cannabis. The size of the plot varies with market demand but over the last few years it has been about 600 hectares.

Alibaba and Tencent Are Showing How Companies Can Get around Beijing's Crackdown on Foreign Deals

Sophia Yan
CNBC
The firms, among China’s most important tech giants, are overseeing the merger of two companies they back. Chinese delivery firm 58 Suyun is combining with Hong Kong logistics company GoGoVan — both have raised funds from Alibaba, and Tencent backs...

Power of Love: China's Latest Arranged Match Rattles Utilities

Meng Meng and Josephine Mason
Reuters
Beijing announced its latest arranged marriage by matching the country’s top coal miner with one of its biggest utilities to create a global powerhouse worth $280 billion on China’s Valentine’s Day.

New Silk Road: Japan to Counteract China in Kazakhstan with New Asia-Europe Rail Deal

Wade Shepard
Forbes
Japan continues standing in the ring with China, exchanging blow for blow as the Asian rivals both compete and cooperate with each other in the creation of the trans-Eurasian mega-project that has been...

Under Pressure: The Story behind China’s Ivory Ban

Benjamin Haas
Guardian
For years Chinese government officials were followed around the world, at every meeting, by a single issue: the scores of dead elephants across Africa, and the international community that blamed China for this “ivory “holocaust”.  

Trump on China: ‘I Want Tariffs. And I Want Someone to Bring Me Some Tariffs’

MarketWatch
President Donald Trump demanded tariffs against China at a recent White House meeting, according to a new report, dismissing concerns from his “globalist” advisers.

More Turmoil for China’s Wanda as Rumors Fly

Variety
China’s Dalian Wanda issued a stern denial Monday following rumors that company chairman Wang Jianlin had been detained by authorities as he attempted to fly abroad. The unsubstantiated reports caused stocks in Wanda’s hotel group to swoon. “Rumors...

China Is Investing $57 Billion into Pakistan

Fortune
Chinese entrepreneurs are looking to explore opportunities in Pakistan, where Beijing has pledged to spend $57 billion on infrastructure projects as part of its “Belt and Road” initiative.

China State Media Says US Will ‘Pay’ for ‘Unjust’ Sanctions

CNBC
China has come out strongly against new U.S. moves to pressure North Korea with its foreign ministry opposing the “long-arm jurisdiction” of President Donald Trump’s administration, arguing that Beijing has always met international obligations in...

China Will Use ‘All Necessary Means’ against US Trade Probe

Guardian
China’s commerce ministry has already expressed “strong dissatisfaction” with the US launch of an inquiry into alleged theft of U.S. intellectual property, calling it “irresponsible”.

China’s ‘Belt and Road’ Initiative Could Be the next Risk to the Global Financial System

CNBC
China has pitched its mammoth, pan-Eurasian “Belt and Road” infrastructure initiative as a means of promoting economic prosperity and fostering diplomatic ties on a global scale.

Balance of Power: China Extends Its Reach

Bloomberg
President Xi Jinping is spending more than $50 billion in an economic corridor in Pakistan, Afghanistan’s neighbor. The highways and gas pipelines, designed to provide China an alternative land route to the high seas, also give it an interest in...

Germany Is Trying to Stop China from Gobbling up Its Companies — but There May Be a Downside

Karen Gilchrist
CNBC
Think of Germany and it isn’t long before visions of bustling business districts and thriving manufacturing plants spring to mind. It isn’t surprising: it’s these industries that have elevated the country to rank among the world’s leading economies...

New Balance Wins $1.5 Million in Landmark China Trademark Case

Sui-Lee Wee
New York Times
A Chinese court has ruled that three domestic shoemakers must pay New Balance $1.5 million in damages and legal costs for infringing the American sportswear company’s signature slanting ”N” logo, in what lawyers said was the largest trademark...

Viewpoint

08.22.17

Burn the Books, Bury the Scholars!

Geremie R. Barmé
Chinese censorship has come a long way. During his rule in the second century B.C.E., the First Emperor of a unified China, Ying Zheng, famously quashed the intellectual diversity of his day by ‘burning the books and burying the scholars’. He not...

China, Like U.S., Struggles to Revive Industrial Heartland

Michael Schuman
New York Times
The hulking, brown–brick industrial plants lining the roads were once the backbone of this gritty city. Today, they are outdated and unwanted, and the region is one of the Chinese economy’s most troubled. 

China to Rev up Bullet Train Revolution with World's Fastest Service on Shanghai-Beijing Line

Sarah Zheng
South China Morning Post
China will soon start official operation of the world’s fastest train service, knocking an hour off the 1,318km journey between Beijing and Shanghai.

Ford in Talks to Launch Fully Electric Cars in China

Peter Campbell
Financial Times
Ford is in talks to launch fully electric cars for the Chinese market as the US carmaker plays catch up to international rivals in the race to develop battery vehicles.  

Books

08.21.17

China’s Banking Transformation

James Stent
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.China’s Banking Transformation demonstrates that Chinese banks have transformed into modern, well-run commercial banks, playing a vital role supporting the country’s extraordinary economic growth. Acknowledging that China’s banks are different from Western banks, the author explains that they are hybrid banks, borrowing extensively from Western models, but at the same time operating within a traditional Chinese cultural framework and in line with China’s governance model.From his personal experience working at board level, Stent describes the governance and management of China’s banks, including the role of the Communist Party. He sees China’s banks as embedded in ancient concepts of how government and society work in China, and also as actors within a market socialist political economy. The Chinese banking system today bears similarities with banking in Northeast Asian “developmental states” of recent past, and also pre-1949 Chinese banking.As the first account of Chinese banking by a Westerner who has worked in China’s banks, China’s Banking Transformation should be read by anyone interested in the political economy of contemporary China, in Asian development issues, and in banking issues generally. The book dispels misconceptions and provides insight into the financial aspects of China’s economic growth story. —Oxford University Press{chop}

Conversation

08.21.17

Should Publications Compromise to Remain in China?

Margaret Lewis, Andrew J. Nathan & more
The prestigious “China Quarterly will continue to publish articles that make it through our rigorous double-blind peer review regardless of topic or sensitivity,” wrote editor Tim Pringle on Monday after days of intense criticism of the brief-lived...

Steve Bannon Says U.S. In Economic War with China

NBC News
The United States is in an economic war with China, U.S President Donald Trump's chief political strategist has said, warning Washington is losing the fight but is about to hit China hard over unfair trade practices...

Conversation

08.16.17

Trump Says He Wants Fairer Trade with China. Will His Latest Move Work?

Wendy Cutler, Susan Shirk & more
On Monday, Donald Trump returned to Washington from his summer vacation for the public signing of an executive order requesting that the United States Trade Representative begin a review to determine wether the U.S. should investigate China over...

Exclusive: China's Belt and Road Acquisitions Surge despite Outbound Capital Crackdown

Kane Wu and Sumeet Chatterjee
Reuters
Mergers and acquisitions by Chinese companies in countries that are part of the Belt and Road initiative are soaring, even as Beijing cracks down on China’s acquisitive conglomerates to restrict capital outflows.

China Reclaims Spot as World's Biggest Holder of Treasuries

Andrew Mayeda and Katherine Greifeld
Bloomberg
China reclaimed its position as the top foreign owner of U.S. Treasuries after increasing its holdings for the fifth straight month.China’s holdings of U.S. bonds, notes and bills rose to $1.15 trillion in June, up $44.3 billion from a month earlier...

Trump Administration Goes After China Over Intellectual Property, Advanced Technology

Ana Swanson
Washington Post
President Trump signed an executive memorandum Monday afternoon that will likely trigger an investigation into China’s alleged theft of U.S. intellectual property, a measure that could eventually result in a wide range of penalties as the...

Facebook Tests Way Into China Via Secret Photo—Sharing App

Yuan Yang
Financial Times
A photo—sharing app has appeared on Apple’s App Store in China that looks exactly like Facebook’s Moments app, and analysts say it may be a way for the US tech group to finally break into its most coveted market.

In China, Facebook Tests the Waters with a Stealth App

New York Times
Facebook and many of its apps have been blocked in China for years. To change that, Mark Zuckerberg has made a big point of meeting with Chinese politicians, reading stodgy Communist Party propaganda, studying Mandarin and—perhaps more daunting—...

Facebook’s Secret Chinese App Is a Dud in China So Far

Quartz
Over the weekend the New York Times reported (paywall) that Facebook had stealthily released a photo-sharing app in the Chinese iOS App Store translated as “Colorful Balloons.” The news spread rapidly around English-language media, as it marked the...

Conversation

08.10.17

Should China Support the U.S. in a War with North Korea?

Ryan Hass, Susan Shirk & more
On August 9, U.S. President Donald Trump warned North Korea that if it does not stop threatening the United States, it will be “met with fire and fury and frankly power, the likes of which this world has never seen before.” Just hours later, the...

China Warns U.S. Over Aluminum Dispute

CNN
China has told the Trump administration to tread carefully in a spat over aluminum exports if it wants to avoid damaging the relationship between the world’s two largest economies. The Chinese Ministry of Commerce on Thursday disputed U.S...

A Missing Tycoon’s Links to China’s Troubled Dalian Wanda

New York Times
Dalian Wanda, the Chinese conglomerate that owns the AMC movie theater chain and nurtures Hollywood ambitions, has sometimes turned to the secretive business network of a politically connected Chinese billionaire in times of need. Now both Wanda and...

SoftBank Partners with China’s Ofo to Bring Its Dock-Less Bikes to Japan

Jon Russell
TechCrunch
A month after committing to help WeWork enter Japan, SoftBank is lending a hand to another global unicorn with its sights set on the country. Today, it announced a tie-in that will bring Ofo’s dock-less bike rental service to Japanese soil.

China Willing to ‘Pay a Price’ for Stronger North Korea Sanctions

James Griffiths and Serenitie Wang
CNN
China is willing to take the economic hit of greater sanctions on North Korea, a top official said Monday, as Washington continues to pressure Beijing on the issue.

China’s Crackdown on Money Fleeing the Country Looks Like It’s Working

Sophia Yan
CNBC
China’s giant cash pile is increasing—and it’s a sign that the government’s industry-spanning crackdown on money fleeing the country is working.

Patriotic Action Film Set to Break China Blockbuster Record

Tom Hancock
Financial Times
A patriotic Chinese action film whose tagline is “whoever offends China will be hunted down wherever they are” is poised to become the country’s highest grossing film to date.

‘China Has Conquered Kenya’: Inside Beijing’s New Strategy to Win African Hearts and Minds

Jonathan Kaiman
Los Angeles Times
It took the StarTimes satellite TV salesman about 30 minutes to install a pipeline for Chinese propaganda into Francis Gitonga’s squat, cinder-block home here in southern Kenya, near Africa’s Great Rift Valley.

The Trump Organization Has Been Granted Trademarks in Macau, China’s Casino Hub

Fortune
A company linked to U.S. President Donald Trump has been granted approval from the Chinese territory of Macau for additional trademarks, including casino services, to develop the “Trump” brand in the world’s biggest gambling center.

Conversation

08.03.17

As China Reins in Capital, What Next for Global Trade?

Yu Zhou & Peter Knaack
China’s Communist Party and its leader, Xi Jinping, are tightening controls on overseas spending by the country’s biggest companies and their highly visible billionaire CEOs. The Wall Street Journal reported recently that Xi personally signed off on...

U.S. Cinema Chain AMC's Shares Plummet 25% on Profit Warning in Latest Setback to China's Wanda Group

Jane Li
South China Morning Post
Troubled Chinese real estate conglomerate Dalian Wanda Group has received another setback after shares of its U.S. cinema subsidiary, AMC Entertainment Holdings, plummeted 25 percent on Tuesday after it issued a profit warning for the second quarter.

Apple’s Decision to Remove VPN Apps from the App Store in China Explained by Tim Cook

Andrew Griffin
Independent
Tim Cook has responded to criticisms that Apple is quietly removing apps from the App Store for the Chinese government.

Debt-Ridden Chinese Giant Now a Shadow of Its Former Size

Keith Bradsher
New York Times
The Han Show here in central China was supposed to turn the city of Wuhan into a leading tourist destination, with a dazzling spectacle of lights, water jets and acrobats by the former creative director of Cirque du Soleil. But the custom-built 2,...

Joining Apple, Amazon’s China Cloud Service Bows to Censors

Paul Mozur
New York Times
Days after Apple yanked anti-censorship tools off its app store in China, another major American technology company is moving to implement the country’s tough restrictions on online content.

Trump Administration Is Said to Open Broad Inquiry into China’s Trade Practices

Keith Bradsher
New York Times
The White House is preparing to open a broad investigation into China’s trade practices, according to people with knowledge of the Trump administration’s plans, amid growing worries in the United States over a Chinese government-led effort to make...

A Crackdown on Unfettered Internet Access Is Jeopardizing China’s Pro-Business Credentials

Charlie Campbell
Time
Another big political meeting, another crackdown on Virtual Private Networks (VPNs)—the location-shifting software many in China use to access websites banned by its government, such as Facebook, YouTube and Google.

Apple ‘Pulls 60 VPNs from China App Store’

BBC
The BBC understands that as many as 60 VPNs were pulled over the weekend. Apple said it was legally required to remove them because they did not comply with new regulations. It refused to confirm the exact number of apps withdrawn, but did not deny...

China’s Banks Are Now Stable as ‘Shadow’ Banking Looks Less Threatening, Moody’s Says

CNBC
Moody’s Investors Service no longer takes a negative view on China’s banking system, raising its outlook to stable on Thursday as concerns over so-called shadow banking eased.

Does North Korea Sanctions Bill Risk US-China Relationship?

James Griffiths
CNN
The US may target Chinese companies as part of new North Korea sanctions, an administration official said this week, even as diplomats are working with Beijing at the UN to reach a new international agreement.

China Orders Halt to Red Meat Imports From Several Australian Meatworks

Sarina Locke
ABC
China has temporarily banned beef exports from six Australian meatworks, the Federal Government has confirmed.

China to Turn All Centrally Owned Giants Into Joint-Stock Firms by 2017

Reuters
China will turn all big companies owned by the central government into limited liability firms or joint-stock firms by the end of 2017, as Beijing looks to make its state-owned giants more nimble as part of broader reforms of the capital markets.

Environment

07.25.17

China Enters the Garden of Eden

from chinadialogue
Built on the site of an abandoned clay pit, the Eden Project has never been short of grand vision.Its iconic biomes house the world’s largest captive rainforest and have become a landmark of the local Cornish countryside. Since opening 16 years ago...

Why Ponzi Schemes Are Thriving in China Despite Crackdowns

Frank Tang
South China Morning Post
The financial naivety of the public and a collective desire for unfeasibly high returns have helped fuel the proliferation of fraudulent investment schemes in China, according to an academic.

For China's Global Ambitions, ‘Iran Is at the Center of Everything’

Thomas Erdbrink
New York Times
When Zuao Ru Lin, a Beijing entrepreneur, first heard about business opportunities in eastern Iran, he was skeptical. But then he bought a map and began to envision the region without any borders, as one enormous market.