China News - 27 January 2021
International
MPs accuse HSBC of aiding China's Hong Kong crackdown. Chief executive Noel Quinn, appearing before the Foreign Affairs Committee, was told the bank was turning a blind eye to the situation. Mr Quinn mounted a robust defence of the bank, saying: "I can't cherry-pick which laws to follow." Mr Quinn, 58, is in the midst of an overhaul that will tilt it even further towards China. BBC, The Times, 27 January
Merkel sides with Xi on avoiding Cold War blocs. German Chancellor Angela Merkel on Tuesday at Davos rejected calls for Europe to pick sides between the U.S. and China, in a nod to the plea made by Chinese President Xi Jinping a day earlier. Merkel said she was "so satisfied" with the EU-China investment agreement, citing reciprocity, transparency on Chinese state subsidies, and the opening up of "more predictable access to ... state-of-the-art technology" in China. But the German leader did also criticise China and the WHO over the pandemic. Politico, 27 January
EU-China ‘friendship group’ suspended, its chair says, amid concerns of CCP influence. Politico, 26 January
Five Eyes: China, New Zealand ink trade deal as Beijing calls for reduced global barriers. China and New Zealand have completed a review and expansion of their free-trade agreement a month after Beijing and Canberra abandoned an opportunity to do the same. SCMP, Reuters, 26 January
UK sells arms to nearly 80% of countries under restrictions, says report. Britain has authorised around £16.2m in sales of arms to China in 2015 and a further £4m in 2018. The sales were mostly military radar equipment for the country’s fast growing navy, now the world’s largest. The Guardian, 26 January
Hong Kong police obtain financial records of arrested democracy activists. Reuters, 26 January
Britain’s G7 ‘democracy summit’ not an anti-China coalition with Joe Biden, says EU diplomat. SCMP, 27 January
Britain’s first sea lord prepares to embark on year in spotlight, with immediate focus on maiden deployment of the HMS Queen Elizabeth aircraft carrier. FT, 26 January
Japan key to US plan to rally allies against China in Indo-Pacific, observers say. SCMP, 27 January
Belt and Road: Philippines cancels $10 billion airport plan with Chinese-led group. Reuters, 27 January
Biden expected to ban term ‘China virus’ in crackdown on Covid racism. SCMP, The Independent, 26 January
China injects more than 22 million doses of coronavirus vaccines. But a new study finds it may take until 2022 to vaccinate its whole population. Reuters, 27 January
UK-China partnerships:
DMU's Confucius Institute signs partnership with leading Chinese university USTB. ASPI ranks USTB as high risk. DMU, 27 January
Hong Kong firm wins City office approval. The founder is a member of the CPPCC. The Telegraph, 27 January
Economy & tech
China opens door to Ant Group's stock market debut. China’s central bank governor has signalled that the door remains open for Ant Group’s stock market debut. BBC, 27 January
China's aerospace challenger gets ready for take off. Chinese manufacturer Comac will deliver its C919 airliner this year. The Telegraph, 27 January
China's Ant Group plans sale of U.S.-based EyeVerify. Ant Group, the digital payments arm of Chinese ecommerce group Alibaba, is planning to sell its prized US biometric firm. FT, 26 January
Longer reads & opinion
54 Days: New BBC documentary on China and the pandemic. BBC, 26 January
Rhodium Group: US-China Financial Investment: Current Scope and Future Potential. Rhodium, 26 January
Comment: Caught between China and the US, the pressure for HSBC to split grows. The Guardian, 27 January
Comment: Early signs from Biden White House of more balanced China policy ahead. SCMP, 27 January
Letter: Liberal democracies must call out China on its rights record by Chris Patten. FT, 27 January
Long read: China is testing the UK and Europe’s balance between trade and human rights. Quartz, 26 January
How China is tackling fintech risk and regulation. The rules need to emphasise the substance instead of the form of a company. FT, 27 January