China News - 13 September 2021
International
Huawei ‘infiltrates’ Cambridge University research centre. Three out of four of the directors at the Cambridge Centre for Chinese Management (CCCM) have ties to the company, and its so-called chief representative is a former senior Huawei vice-president who has been paid by the Chinese government. Chair of the China Research Group, Tom Tugendhat, is quoted in the article. The Times, 13 September
Beijing to break up Ant’s Alipay and force creation of separate loans app. Beijing wants to break up Alipay, the 1bn-plus-user superapp owned by Jack Ma’s Ant Group, and create a separate app for the company’s highly profitable loans business, in the most visible restructuring yet of the fintech giant. The plan would also require Ant to turn over the user data that underpins its lending decisions to a new credit scoring joint-venture which would be partly state-owned. FT, BBC, 13 September
Evergrande investors face 75% hit as company edges closer to restructure. The troubled Chinese property group Evergrande has edged closer to a government-engineered restructuring which could see bondholders take huge losses. The Guardian, 13 September
Taiwan’s war games begin with response to simulated PLA biochemical attack. Taiwan’s annual war games test defence capabilities in the event of conflict with mainland China. SCMP, 13 September
Brazil moves away from ChineseCovid-19 vaccines. Brazil’s federal government has halted negotiations over additional doses of Sinovac’s vaccine. WSJ, 11 September
'My family might be destroyed like my home': Uyghurs speak out after giving evidence at UK tribunal. The hearings continue today. ITV, Sky News, 13 September
Japan PM contender Kishida aims to boost security with China in mind. Reuters, 13 September
Australia: Iron ore price hits one year low on China demand collapse. Mining.com, 13 September
China focus
China moves to contain fresh Covid outbreak in south-east Fujian province. There were at least 85 cases recorded as of Monday. The Guardian, 13 September
China’s YouTube army of foreign fans takes on Western ‘lies’ about human rights abuses. Teachers and business owners from Britain, Colombia and Singapore, a collage of YouTubers garnering fame for their video takedowns of what they say are unfair accusations against Beijing. SCMP, 13 September
Economy & tech
White House officials consider probe into China’s industrial subsidies. The FT reports that Katherine Tai, the US trade representative, and Gina Raimondo, the US commerce secretary, have considered launching a probe which could lead to new tariffs. FT, WSJ, 10 September
China boosts stake in UK with London shares spree. The People’s Bank of China now owns UK shares worth $17.1bn, including stakes in most of the FTSE 100. The total value of its holdings in the second quarter of the year was less than $2bn. The Telegraph, 11 September
China’s new restrictions unlikely to stop flow of venture money into country, investors say. “Right now, on the new investment side, it’s business as usual,” said a venture capitalist. Crunchbase, 10 September
Investors flee nightmare on Nine Elms street. Much of London’s flagship Nine Elms regeneration is dependent on R&F, a Chinese developer that faces increasing pressure over its debt level from the Chinese government, from whom some of the loans stem. The Telegraph, 13 September
China to consolidate overcrowded electric vehicle industry - minister. Reuters, 13 September
Longer reads & opinion
Mao 2.0? How Xi Jinping is remaking China with a crackdown on everything. The turning point of the latest crackdown can be traced to October last year after China's richest man, billionaire tech tycoon Jack Ma, disappeared. The Telegraph, 11 September
China’s war on effeminate men. Cultural levers are easier and cheaper to pull than economic reforms that would encourage a higher birth rate. The Spectator, 13 September
Alt-right finds new partners in hate on China’s internet. Populists and nationalists are spreading anti-Muslim, anti-feminist messages – but also backing the Communist party line. The Observer, 11 September
The Guardian view on Xi Jinping’s China: rectification, not revolution. The Guardian, 13 September
China is becoming more assertive in international legal disputes. The Economist, 11 September