China News - 20 May 2021
International
British Steel’s Chinese owner sets sights on Gupta’s UK plants. Jingye “wants to set up an empire in the UK and there have already been discussions with government”, said one person familiar with the Chinese company’s thinking, while stressing that talks remain at an exploratory stage. FT, 20 May
Today: European parliament set to vote on freezing China investment deal. The draft motion will also call on the EU to step up coordination with the US to deal with China, while stressing that any trade deals with Taiwan "should not be held hostage" by the deal with Beijing. Politico, 18 May
Truss: When will WTO treat China as developed country to stop Beijing's unfair trade practices? Truss told a Westminster committee yesterday that the UK wants “to improve our toolkit multilaterally and unilaterally” through putting in new subsidies rules for things like steel and aluminium. City AM, 20 May
China says US warship illegally enters its territory in S. China Sea. China said on Thursday a US warship had illegally entered its territorial waters in the South China Sea, and was expelled by its forces, an assertion the US denied. Reuters, 20 May
China's fishing fleet may be front for international spying operation. An investigation by Radio Free Asia has linked a fleet operating out of Woody Island in the contested Paracel archipelago to national projects involving testing an experimental command and communications system. RFA, The Telegraph, 19 May
Uniqlo shirts blocked at US border in January on China forced labour concern. Uniqlo brand shirts were blocked at the United States border in January on concerns they violated a ban on cotton products produced in the Xinjiang region of China, where there have been reports of forced labour. Reuters, 20 May
Australian PM says trade volume shows valuable China relationship. Morrison said sales of non-restricted commodities illustrated the relationship had not broken down. Reuters, 19 May
‘Murky dealings’: UK government told PPE deals were lined up with ‘bribes’ in China. Evening Standard, 20 May
Taiwan declares emergency as Covid finally breaches defences. The Times, 19 May
Economy & tech
Elon Musk jets in to Britain as ministers seek site for new car factory. Ministers are hunting for a site for a major new car plant in a move stoking speculation that Elon Musk is exploring building Teslas in Britain. The Telegraph, 20 May
ByteDance boss to step down in big shake-up at TikTok owner. Concerns about the Chinese company’s future in the U.S. have been fading as geopolitical uncertainty eases, only for Bytedance to face pressure at home. WSJ, 20 May
Bitcoin plunges by almost 30% after China crackdown. The Guardian, 20 May
Longer reads & opinion
Don’t bet against China’s investment-led growth model. China’s economy is in good shape, and policymakers are exploiting this strength to tackle structural issues such as financial leverage, internet regulation and their desire to make technology the main driver of investment. FT, 20 May
China’s Communist Party chips away at Hong Kong business houses. The territory’s tycoons are falling out of favour. The Economist, 20 May
South Korea’s balancing act will test Biden’s plan to get tough with China. The Guardian, 20 May
China on Mars: Zhurong rover returns first pictures. BBC, 20 May