China News - 25 January 2021
China News - 25 January 2021
Join us for a discussion on elite capture, political lobbying and countering foreign interference with Charles Parton, Mareike Ohlberg and Juliet Samuel tomorrow at 10am. We’ll be revisiting the recommendations of our first report on UK-China relations, written by Charles Parton.
International
MPs to question HSBC chief over freezing Hong Kong pro-democracy accounts. HSBC bosses will be unable to avoid the subject on Tuesday when HSBC CEO Noel Quinn and compliance chief Colin Bell give evidence to the foreign affairs committee on the security law and the "recent freezing of accounts of activists". The Foreign Affairs Committee has also invited Ambassador Liu Xiaoming to give evidence on the committee’s inquiry into Xinjiang detention camps. The Telegraph, Bloomberg, City AM, The Times, 22 January
We are hosting Sherard Cowper-Coles, Chair of the China-Britain Business Council and Group Head of Public Affairs at HSBC to discuss all things UK-China on Tuesday 2 Feb at 10am. Sign up here.
Taiwan reports large incursion by Chinese warplanes for second day. Chinese bombers and fighter jets have entered Taiwan’s air defence identification zone for the second day in a row in an unusual and provocative escalation of its military activities that has prompted the Joe Biden administration’s first public remarks on its relationship with Taipei. The Guardian, BBC, 24 January
Davos: Xi set to address Davos today and Britain to join US in attack on China’s trade subsidies. Xi will make his first address since 2017, while British Trade Secretary Liz Truss will call for tougher rules against China's trade-distorting practices. The UK is said to be bidding to join an international working group of the US, EU and Japan that focuses on WTO practices. Bloomberg, The Telegraph, 25 January
Sikkim: Chinese and Indian troops 'in new border clash'. Chinese and Indian troops have reportedly clashed again in a disputed border area, with injuries on both sides, Indian media say. India's army said there had been a "minor" incident that had been "resolved". BBC, 25 January
New letter from 70 G7 legislators calls leaders to develop plan of action for China. The letter was co-authored by Norbert Röttgen and Senator Anthony Gonzalez, and signed by UK MPs including the CRG’s Tom Tugendhat and Alicia Kearns. Tweet, 25 January
Jewish leaders use Holocaust Day on 27 January to decry persecution of Uyghurs. Leading figures in the UK Jewish community say Jews have the “moral authority and moral duty” to speak out. The Observer, 25 January
UK: Local authority defends appointment of Chinese state-owned contractor BECGI on £130m scheme in Wigan. Construction News, 25 January
Hong Kong orders thousands to stay home in city's first Covid lockdown as authorities battle outbreak in one of its poorest and most densely packed districts. The Guardian, 23 January
China, Kenya agree repayment holiday on US$245 million worth of debt. Last week, the Paris Club agreed to give Kenya a service holiday on US$300 million of debts due in the next six months. SCMP, 23 January
The UK Foreign Secretary has recently returned from a three-country East African tour to Kenya, Ethiopian and Sudan. Gov UK, 24 January
China watch
Chinese President Xi Jinping says corruption remains biggest threat to Communist Party, calls on regulators to tighten oversight of the financial sector. SCMP, 23 January
China mine accident: 11 workers rescued after two weeks underground. The Guardian, 25 January
Economy & tech
China takes new foreign investment top spot from US. China has overtaken the US as the world's top destination for new foreign direct investment, according to UN figures released on Sunday. UK investment into China was up 30.7% last year. BBC, 25 January
UK sees six-year leap in e-commerce during pandemic, ahead of China and the US. WARC, 25 January
Shares in Evergrande’s EV venture surge 60% on capital injection. Evergrande Auto, as the EV unit is known, has vowed to spend Rmb30bn ($4.6bn) between 2019 and 2021 building factories and acquiring technical expertise in its bid to become a global leader in electric cars. FT, 25 January
TikTok rival Kuaishou to raise up to $6.3bn in Hong Kong IPO. Kuaishou, which is backed by Chinese internet group Tencent, earns most of its revenues from users sending virtual gifts to livestreaming hosts. FT, 25 January
Longer reads & opinion
Comment: HSBC cannot stay silent as China’s crimes are exposed. The Telegraph, 25 January
How China could turn off Britain’s lights. The personnel of CGN is typical of any CCP-sponsored company, writes Clive Hamilton (co-author of Hidden Hand) in Unherd, 25 January
I will never forget my 11 years in the UK. Liu Xiaoming continues his farewell tour with an article in The Telegraph, 25 January
Beijing to Britain: a round-up of the last week of UK-China. Beijing to Britain, 24 January
Argument: Germany is pouring cold water on the Biden-Europe love fest. Three separate controversies - EU-China CAI, the election of Armin Laschet and Nord Stream 2 - indicate some of the problems ahead. Foreign Policy, 23 January
Press reset: can the Morrison government rebuild bridges with China – or is it too late? “It’s now well over three years since we’ve had a formal trade ministers meeting with China, and I’m happy to be patient,” says new Trade Minister Dan Tehan. The Guardian, 22 January
'Touching fish' craze sees China's youth find ways to laze amid '996' work culture. The Guardian, 25 January
The week ahead
Monday
2pm GMT: President Xi Jinping addresses Davos, his second Davos appearance after his debut in 2017. Vietnamese Party Congress begins.
Tuesday
10am: China Research Group event on CCP interference and influence.
Committee action: At 2:30pm, the Foreign Affairs Committee quizzes HSBC Group Chief Executive Noel Quinn and Colin Bell, Group Chief Compliance Officer. International Development Committee hears evidence on the future of UK aid from Dominic Raab and Sir Philip Barton, Permanent Under-Secretary of the FCDO.
Friday
Hong Kong GDP results released.