China News - 22 September 2022
International
Truss condemns actions of authoritarian regimes in UN speech. In her first speech on the world stage as prime minister, Liz Truss urged democracies to work together to take on “malign regimes” and pledged that the UK will spend 3% of GDP on defence by 2030. She added: “The G7 and our like-minded partners should act as an economic NATO, collectively defending our prosperity.” Truss had earlier updated US President Biden on the UK’s plans to adjust the Integrated Review to tackle the evolving challenge from countries like China and Russia. Sky News, 22 September
New Foreign Secretary meets with China's Foreign Minister at UN. Foreign Secretary James Cleverly held a first meeting with China’s Foreign Minister Wang Yi at the UN General Assembly. Cleverly set out the importance of constructive engagement with China on key issues including foreign and security challenges, climate change and global health, as well as a channel to discuss issues where the two nations don’t agree. Gov.uk, 21 September
China holds firm on its Ukraine stance while Putin sends more troops. China has called for a “ceasefire through dialogue” after Russian President Vladimir Putin announced a partial military mobilisation amid the war in Ukraine. Beijing’s latest statement differs little from its previous announcements on Ukraine in which it also called for a peaceful resolution. Al Jazeera, 21 September
US bank chiefs warn of China exit if Taiwan is attacked. The chief executives of JPMorgan Chase, Bank of America and Citigroup - the three largest US banks by assets - have committed to complying with any US government demand to pull out of China if Beijing were to attack Taiwan. Taiwan's Foreign Minister Joseph Wu said on Wednesday that Xi Jinping may use an external crisis to divert attention from China’s economic woes. FT, 21 September
China brings cash to former Soviet republics in bid to win favour with Central Asian ‘stans’. China is manoeuvring to play a more pivotal role in Central Asia, as new investments and agreements further consolidate relationships in the wake of President Xi Jinping’s first overseas trip since the coronavirus pandemic began. SCMP, 22 September
Chinese port lease near US troops’ Australian training ground draws fresh scrutiny. Australian Prime Minister Anthony Albanese has launched a review into whether the lease to the Australian unit of China’s Landbridge Group presents security concerns. WSJ, 22 September
US decides against national security tariffs on rare earth magnets from China, Japan, EU. Politico, 21 September
Reports: Hong Kong to scrap hotel quarantine for travellers from early October. Reuters, 22 September
Economy & tech
Huawei dives into chip production to battle US clampdown. Huawei is attempting to get its own chips back into production as early as this year by partnering with domestic semiconductor companies to build up "US-free" production lines. Nikkei Asia, 22 September
Car dealer Pendragon in talks to bring Chinese EVs to Britain. British auto dealer Pendragon is in advanced discussions with BYD to be its UK launch partner as China’s biggest electric-vehicle maker enters the market later this year. The move is part of Pendragon’s broader efforts to boost its new car franchise business, the London-based company said. Bloomberg, 21 September
European businesses forced to ‘reduce, localise and silo’ in China. A report from the European Union Chamber of Commerce in China is by far its most pessimistic since its founding in 2000, executives said. FT, 21 September
China says US EV subsidy rules suspected of violating WTO rules. Reuters, 22 September
Long reads & opinion
Why I’m running to chair the foreign affairs select committee. CRG Chair Alicia Kearns MP. The Times, 22 September
The Truss administration – what can we expect on…Russia and China. British Foreign Policy Group, 21 September
Europe is replacing energy dependence on Russia with solar reliance on China. As Europe scrambles to cut its dependence on Russia, it risks further entrenching its reliance on another authoritarian country. Mary Hui. QZ, 22 September
The shadowy businessman behind a multibillion-dollar bank swindle. The story of the collapse of the rural banks in Henan. Sun Liangzi and Han Wei. Caixin, 21 September