China news - 21 April 2023
International
Janet Yellen calls for ‘constructive and fair’ relationship with China. The US Treasury secretary strikes a notably positive tone during speech at Johns Hopkins University, says any effort to decouple would be ‘disastrous’. Ana Swanson. New York Times, 20 April
Beijing did not respond to Wagner arms request. Classified document in US intelligence leak suggests that China snubbed Russian paramilitary group’s request for weapons in early 2023. Mehul Srivastava, Max Seddon and Felicia Schwartz. Financial Times, 20 April
US briefs G7 partners on planned investment curbs for high-tech industries, hoping for endorsement. Biden Administration reportedly plans to sign executive order limiting investment around the time of the G7 summit in May. Jenny Leonard. Bloomberg, 20 April
Classified CIA document suggests China building cyber weapons to ‘seize control’ of enemy satellites. The cyber capabilities would allow China ‘to seize control of a satellite, rendering it ineffective to support communications, weapons, or intelligence, surveillance, and reconnaissance systems’. Mehul Srivastava, Felicia Schwartz and Demetri Sevastopulo. Financial Times, 21 April
US must ‘publicly and consistently’ press China to release political prisoners, says House Foreign Affairs Committee. The Committee heard witness testimonials during a hearing titled ‘Where is Gao Zhisheng?’ in reference to detained human rights lawyer. South China Morning Post, 21 April
Taiwan foreign minister warns of China conflict in 2027. Joseph Wu spoke on LBC’s Tonight with Andrew Marr in an attempt to bolster western support. Amy Hawkins. The Guardian, 21 April
Vietnam opposes China’s unilateral South China Sea fishing ban. China imposes an annual ban between 1 May - 16 August each year to promote sustainable fishing and improve marine ecology. Vietnam routinely opposes the ban, which has been in place since 1999, as a violation of its sovereignty. Reuters, 20 April
Chinese regulator delays publication of US books. Chinese book publishers are releasing far fewer US-related titles as the central propaganda department suspends approval of popular American authors. Sun Yu and Nian Liu. Financial Times, 21 April
Economy & tech
China mobilises investment into state-owned firms. Shares of SOEs have outperformed investors’ expectations since November, when top securities regulator called for a new pricing model. More than ten mutual fund companies have applied to launch SOE-dedicated funds since March. Jason Xue and Summer Zhen. Reuters, 21 April
China’s biggest fund manager bets on regulatory easing and AI boom. Guangzhou-based E Fund Management has increased stakes in online delivery platform Meituan and Taiwanese chipmaker TSMC. Zhang Shidong. South China Morning Post, 21 April
Concerns electric vehicle boom may force China to burn more coal. Expanding coal-fired power is said to be China’s only real option in the short term to meet rising electricity demand. Bloomberg, 20 April
Opinion & long reads
China's 'free money' comes at a cost in the great game to control the Pacific. Analysis of China’s diplomatic engagement in the Pacific Islands, and what it means for the West. Nicola Smith and Charley Piringi. The Telegraph, 20 April
As China fixes its property mess, can foreign capitalists benefit? A look at the restructuring proposals received by Evergrande’s foreign creditors. The Economist, 20 April
Behind the buzzwords: what China’s priorities mean for Europe. The slogans and policies referenced by Xi Jinping at the recent National People’s Congress, and what they mean in practice. Alicja Bachulska. European Council on Foreign Relations, 20 April
Why China’s police state has a precinct near you. Phelim Kine, Christina Gallardo and Joseph Gedeon. Politico, 19 April
Asia Power Snapshot: China and the United States in Southeast Asia. In-depth analysis of the two countries’ relative influence. Susannah Patton and Jack Sato. Lowy Institute, 20 April