China News - 21 October 2020
International
First interview with Sir Mark Sedwill since leaving his role as Cabinet Secretary; includes comments on UK’s “naivety” towards China. Sedwill conceded that Britain had at times been “naïve” in dealing with threats from Russia and China. “I think when we’ve allowed the rhetoric to suggest that countries with very different political systems, essentially authoritarian political systems, are edging towards our values and viewing the world, then we’ve probably been mistaken and have overstated the natural alignment.” The Times, 21 October
New NYT report highlights Donald Trump’s business dealings in China. China is one of only three foreign nations — the others are Britain and Ireland — where Mr. Trump maintains a bank account, according to an analysis of the president’s tax records by the NYT. A Trump Hotels subsidiary paid nearly $200,000 in taxes to China from 2013 to 2015, as it explored expanding in Asia. NYT, The Guardian, BBC, 21 October
Hong Kong banks told to report potential breaches of security law by Hong Kong Monetary Authority, just as they would with any violation of money-laundering or terrorist financing regulations. The guidance does not constitute an official guideline but the advice applies to both local and international lenders in the city. FT, The Guardian, 20 October
China reports surge in long-term foreign investment inflows , up 23.7% year on year, despite talk of decoupling from US. According to new Ministry of Commerce data, total FDI inflows into China in the first nine months amounted to US$103 billion, an increase of 2.5 per cent from the same period last year, the Chinese ministry said. Of note, investments from the Netherlands rose 150 per cent in the year to date from a year earlier, it added. In comparison, Vietnam, which is widely seen as an alternative investment destination, experienced a drop of 18.9 per cent in FDI inflows from a year earlier. SCMP, 21 October
China watch
China's COVID-19 vaccine capacity to reach 610 million by the end of the year, according to state media (Xinhua). A Chinese city in Zhejiang province has also become the first city to offer an experimental COVID-19 vaccine to non-priority groups by allowing 18-59 year olds to sign up. Hundreds of thousands of people have already taken experimental Covid vaccines in China since July. Reuters, 20 October
Xinjiang: Chinese Foreign Ministry continues to condemn Western opposition of China’s policies towards ethnic minorities as “disinformation”. The Global Times cites a new report from the ‘Xinjiang Development Research Centre’, which denies existence of forced labour, citing “enthusiasm” of ethnic minorities and improved work outcomes. Xinhua, Global Times, 20 October
Soft power: Global Times reports that a number of mainstream Ghanaian news websites recently published "Sino-African Relations Outlook" articles supporting China-Africa cooperation and rebuking US claims that the Chinese government is engaging in espionage in Africa. Global Times, 19 October
Economy & tech
Chinese tech firms eye Singapore base amid US-China tensions and coronavirus border closures as geopolitics in Asia shifts. SCMP, 20 October
Longer reads & opinion
Only a democratic alliance can thwart Beijing’s ambitions. President of Taiwan’s Legislative Yuan, You si-kun, in The Times, 20 October
FT editorial board: Transparency offers way out of Zambia debt crisis. FT, 20 October
What will Xi’s China do next? Book review of China’s Good War by Rana Mitter, Superpower Interrupted by Michael Schuman and The Emperor’s New Road by Jonathan E Hillman. FT, 18 October