China News - 16 November
International
Xi Jinping arrives in US as his Chinese dream sputters. China’s current economic challenges will be an “important factor” in the Xi-Biden negotiations and may “lead to a stronger desire to stabilise the economic, trade and investment relations with the US”. Tessa Wong. BBC News, 15 November
Biden and Xi Jinping agree to resume high-level military communication. The countries are “back to direct, open, clear…communication” as they pledge cooperation to control drug trafficking and add commercial flights. Demitri Sevastopulo and Ryan McMorrow. Financial Times, 16 November
China and US pledge to fight climate crisis ahead of Xi-Biden summit. “The United States and China recognise that the climate crisis has increasingly affected countries around the world… They will work together…to rise up to one of the greatest challenges of our time for the present and future generations of humankind”. The Guardian, 15 November
Xi tells US firms China ready to be partner and friend. As Beijing looks to reassure global businesses and counter China’s struggles to entice foreign investment, Xi said there is plenty of room for bilateral cooperation. Michael Martina. Reuters, 16 November
Japan and China to hold regular talks on trade issues. Japan’s trade minister Yasutoshi Nishimura has confirmed that they “will hold firm discussions with Chinese officials to build constructive and stable Japan-China relations”. Satoshi Sugiyama and Sakura Murakami. Reuters, 15 November
Economy & Tech
US federal pension fund to exclude Hong Kong and China investments. The $771bn FRTIB said it would change the benchmark index followed by its international fund. This will shift away from Hong Kong-listed equities amid rising geopolitical tensions. Jennifer Hughes and Hudson Lockett. Financial Times, 15 November
China’s economy boosted by stronger retail sales and industrial activity. Retail sales expanded 7.6% year on year last month, and industrial production climbed 4.6%. Thomas Hale. Financial Times, 15 November
Oil gains on China economic data, strong demand forecast. On Wednesday, oil prices rose as China’s factory output and retail sales beat expectations. Sudarshan Varadhan. Reuters, 15 November
China's central bank boosts liquidity injection through policy loans, but the rate is unchanged. China’s central bank has increased liquidity injection but has kept the interest rate the same when rolling over maturing medium-term policy loans. Winni Zhou and Tom Westbrook. Reuters, 15 November
BAIC unit applies for manufacturing approval for Xiaomi-branded EVs. A unit of the Beijing-based automakers has applied for manufacturing approval for two Xiaomi-branded EVs. Qiaoyi Li, Zhang Yan and Brenda Goh. Reuters, 15 November
Opinion & long-reads
China, Russia, Iran and the prospect of American retreat. The US’ dominant security role is challenged in Asia, Europe and the Middle East. Gideon Rachman. Financial Times, 13 November
In our new world disorder, the old bipolar frames of reference won’t get us anywhere. We need to understand that we live in a world fragmented between multiple powers who do not simply divide into two camps. Timothy Garton Ash. The Guardian, 15 November