Bloomberg reports details of National Security & Investment bill, suggests that it may give ministers power to unravel foreign investments in UK companies. The National Security and Investment Bill is in the final stages of drafting and could be published later this month, according to people familiar with the matter. The new law may give ministers power to unravel foreign investments in U.K. companies - potentially casting major doubt on deals that have already been concluded - to stop hostile states gaining control over key assets. Bloomberg, 13 October
Canada’s Justin Trudeau hardens rhetoric on China over Hong Kong and Xinjiang. “We will remain absolutely committed to working with our allies to ensure that China’s approach of coercive diplomacy, its arbitrary detention of two Canadian citizens alongside other citizens of other countries around the world is not viewed as a successful tactic by them,” Trudeau said at a press conference. He added that Canada would “continue to work with our fellow like-minded nations around the world, to impress upon China that its approach to internal affairs and global affairs is not on a particularly productive path for itself or for all of us.” SCMP, 14 October
China lets students register for vaccine before trials end if they are planning to travel abroad. The Telegraph, 14 October
Debt diplomacy: Zambia resists Chinese pressure to make paying arrears a condition of pursuing debt relief talks, as the southern African nation struggles to strike a bilateral deal with Chinese creditors that own around a third of its debt. FT, 13 October
Ghana’s minister for finance, Ken Ofori-Atta, wrote about the complications of debt restructuring in the FT earlier this week: “Western creditors are reluctant to offer concessions for fear that released resources will simply be transferred to Beijing. Some of China’s state-owned financial institutions are not officially included in the G20 debt suspension.” FT, 11 October
China and Russia win seats on UN human rights council, Saudis lose but support for Beijing dropped by more than 20% compared to a 2016 vote. AP, Reuters, 13 October
A French museum has postponed an exhibit about Mongol Emperor Genghis Khan citing interference by the Chinese government. Beijing demanded that certain words, including “Genghis Khan,” “Empire” and “Mongol” be taken out of the show. AP, 13 October
BTS’s China crisis after member makes remark about Korean War. Samsung electronics, Hyundai motors and the sportswear company Fila removed BTS from their advertising in China after criticism online and in a Beijing tabloid newspaper. The Times, 14 October
China watch:
Xi Focus: Xi stresses need for independent innovation and self-reliance during Guangdong inspection. Xinhua, 13 October
Xi Jinping to tighten grip on power with new rules for top policymaking bodies, giving Xi power to set meeting agendas of Politburo and Standing Committee - he currently only has power to convene meetings. SCMP, 14 October
U.S. Indo-Pacific strategy undermines peace, development prospect in East Asia: Foreign Minister, Wang Yi. Xinhua, 13 October
50,000 Shenzhen residents embrace digital currency as China continues its digital yuan trials. BBC, 12 October
Economy & tech
Economic data: China’s stock market value hits record high of more than $10tn (FT). China’s exports grow at fastest rate in 18 months - goods exports grew 9.9% year-on-year in September (Caixin).
Apple announces new 5G iPhone, although Chinese online platforms reported to have cancelled livestream showings of the event. Apple shares closed down 2.7 per cent at $121.10. The Times, 14 October
Chinese groups go from fish to chips in new ‘Great Leap Forward’, with more than 13,000 Chinese enterprises registering as semiconductor companies in the first nine months of this year - including many with no known experience of semiconductors. FT, 13 October
China hawks encounter powerful opponent: U.S. companies as industry groups oppose restrictions on tech trade with China, citing high costs. Washington Post, 14 October
Longer reads & opinion
‘Black gold’: How global demand for hair products is linked to forced labour in Xinjiang. CNN, 12 October
China braced for lose-lose scenario as US election fuels unease. Beijing fears Trump triumph will further sour relations but Biden victory could pose tougher long-term challenges. FT, 14 October
Do China’s new plans for Shenzhen mean a Greater Bay Area back seat for Hong Kong? SCMP, 14 October