China News - 23 March 2022
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International
Volodymyr Zelensky to speak with China's Xi Jinping 'very soon': adviser. Andriy Yermak, the head of President Zelensky's office, told a virtual briefing on Tuesday he hoped the Ukrainian leader would speak with President Xi "very soon," as Beijing mulls support for Russia's ongoing invasion of the country. Yermak told the event -hosted by the British Chatham House think tank - that Kyiv wants China to do more to help end the fighting. Newsweek, 22 March
NATO eyes warning to China against aiding Moscow as Biden heads for Europe. Nikkei Asia, 23 March
Analysis: China takes a back seat in international diplomacy over Ukraine. NYT, 22 March
Britain agrees deal with US to end tariffs on steel exports. The deal will protect steel and aluminium companies in both countries, allowing the allies to focus on what they say are “China’s unfair trade practices”. The agreement requires any UK steel company owned by a Chinese entity to audit their financial records to assess influence from the Chinese government, and then share them with the US. The requirement will initially apply to British Steel, acquired by China’s Jingye Group in 2020. The Guardian, Gov.uk, 23 March
Omicron outbreak similar to Hong Kong ‘could kill a million’ in China. Airfinity, a global health analytics company, calculated that when combined with the poorer efficacy of their home-grown Sinovac and Sinopharm vaccines, the effective population protection against infection from Omicron was just 30 per cent. The Times, 22 March
Chinese foreign minister to visit India on Friday. It will be the highest such visit by a Chinese official since deadly border disputes flared between the countries in 2020. Reuters, 23 March
US-Philippines to hold biggest military drills in decades as China tensions grow. Bloomberg, 23 March
China plane crash: Search and rescue operation halted by landslide risk. BBC, 23 March
Economy & tech
Chinese regulators ask some US-listed firms to prepare for audit disclosures. Firms including Alibaba, Baidu and JD.com are to prepare for more audit disclosures, sources said, as Beijing steps up efforts to ensure domestic companies remain listed in New York. This comes as China's regulators consider a proposal to allow their US counterparts to inspect audit working papers of some Chinese firms that do not gather sensitive data. Reuters, 22 March
Evergrande delays publishing annual results over ‘drastic change’ in prospects. The Chinese property giant will reveal how it will restructure its $300 billon debt by July, amid confusion about how banks seized $2 billion from one its divisions. The Guardian, 23 March
Chinese tech stocks jump amid signs Beijing may ease off on internet crackdown. Caixin, 23 March
China sets green hydrogen target for 2025, eyes widespread use. Reuters, 23 March
Opinion & editorial
The Ukraine war is not about democracy versus autocracy. The West will need the help of some illiberal states to prevail over Russia and China. Janan Ganesh. FT, 22 March
Foreign businesses in China need to heed the lessons of Russian exodus. Consequences of action like the Ukraine invasion can play out at a speed and scale few have imagined possible. Peggy Hollinger. FT, 23 March
China’s Omicron lockdowns mean more supply chain pain. A globalised world is vulnerable to local disasters. Elisabeth Braw. Foreign Policy, 22 March
A Chinese nickel market mystery. Did the London Metal Exchange cancel trades to help a Chinese firm? WSJ, 22 March
Long reads
Can China achieve its growth target this year? Wei Hongxu. The Diplomat, 22 March
Apple’s political censorship leaves Taiwan, remains in Hong Kong. Jeffrey Knockel and Lotus Ruan. Citizen Lab, 22 March
How to love Hong Kong, despite everything. Karen Cheung. Foreign Policy, 19 March