China News - 13 April 2021
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International
Foreign takeover rules on national security eased for fear of losing overseas investors. An amendment to the National Security and Investment Bill is likely to reduce sharply the number of foreign takeovers that are scrutinised by the new regime. Ministers have proposed increasing the acquisition threshold for mandatory notification from 15 per cent of a company to 25 per cent. The Times, FT, 12 April
UK told to use new telecoms suppliers after Huawei’s 5G exit. A new report from the vendor diversity task force, commissioned by the government, says the UK must ensure that smaller telecoms equipment makers become key suppliers of Britain’s 5G mobile phone networks once Huawei is removed. FT, 13 April
Ant ordered to restructure by Chinese regulators. Ant Group has been ordered by Chinese regulators to “cut off” the “improper connections” between its payment platform and its financial products. The move could strip Ant down to a mobile payments platform (only 36 per cent of Ant’s revenues come from payments services at present). FT, BBC, 13 April
Taiwan: 'Record number' of China jets enter airspace. The defence ministry said 25 aircraft including fighters and nuclear-capable bombers entered its so-called air defence identification zone (ADIZ) on Monday. BBC, Sky News, 13 April
EU rebuffs Montenegro plea to help repay $1B Chinese highway loan. The loan accounts for one-quarter of the country’s debt. Politico, 12 April
China warns of action over Japan’s decision to dump radioactive Fukushima water into the sea. SCMP, 13 April
China watch
Interview: British barrister disputes false allegations against Hong Kong. Xinhua, 12 April
Xi Jinping stresses vocational education, technical professionals cultivation. Xinhua, 13 April
Xinjiang: new documentary set to be broadcast on CGTN and a group of migrant workers ‘debunk forced labour claims’. Global Times, Xinhua, 11 April
Economy & tech
China trade: rebound continues as imports surge 38.1 per cent in March, exports up 30.6 per cent. SCMP, 13 April
US faces uphill climb to rival China’s rare earth magnet industry. China has ad decades long head start, despite the US government investing tens of millions of dollars. WSJ, 11 April
Huawei to invest $1 billion on car tech it says surpasses Tesla. Caixin, 13 April
Longer reads & opinion
China struggles to rein in steel production. China’s environment minister makes surprise visit to city at heart of industry last month. FT, 13 April
Comment: In a dramatic turnaround, China has started to lose the Covid Cold War. The Telegraph, 12 April
When Clean Energy Is Powered by Dirty Labor. Foreign Policy, 12 April
China Learning From Russia’s “Emerging Great Power” Global Media Tactics. Jamestown Foundation, 12 April
China’s Message to America: We’re an Equal Now. WSJ, 11 April