China News - 27 September 2022
International
China growth to fall behind rest of Asia for first time since 1990. China’s economic output will lag behind the rest of Asia for the first time since 1990, according to new World Bank forecasts that highlight the damage wrought by President Xi Jinping’s zero-Covid policies and the meltdown of the world’s biggest property market. The World Bank has revised down its forecast for gross domestic product growth in the world’s second-largest economy to 2.8 per cent. FT, 27 September
China's yuan ends at 28-month low despite fresh policy step. Reuters, 27 September
China rights report prompts Western-led call for UN debate. The UK, US and other countries are calling for a debate at the UN Human Rights Council to discuss China's treatment of Uyghurs and other Muslims in the far western region of Xinjiang, a document showed and diplomats said on Monday. The move, which needs a majority vote to pass in the deeply divided Geneva council, would be the first time that alleged abuses by China feature on the UN rights body's agenda in its 16-year history. Reuters, 26 September
Foreign Secretary visits Republic of Korea. During his visit, James Cleverly will meet President Yoon Suk-yeol, reaffirming the close ties of friendship between the UK and Korea. As part of the existing bilateral framework, he will engage in a Strategic Dialogue with Foreign Minister Park Jin covering UK-Republic of Korea cooperation on global security and economic issues including Ukraine, Russia and China. Gov.uk, 27 September
Minister met Chinese nuclear officials with no minutes on file. Anne-Marie Trevelyan met representatives of China General Nuclear (CGN) in April, June and July last year while serving as energy minister. Two of the sensitive meetings took place after the United States sanctioned the company for its links to the Chinese military and no minutes have been retained, according to The Times. The Times, 27 September
TikTok deal remains elusive as Biden administration works to solve data concerns. The Biden administration and TikTok are working on an agreement that would let the video-sharing site keep operating in the US, but negotiations have stalled over concerns that the company’s Chinese ownership poses a national security threat, people with knowledge of the matter said. Bloomberg, 26 September
China reins in its Belt and Road programme, $1 trillion later. After loans have gone sour and projects have stalled, Beijing is revamping its troubled initiative. WSJ, 26 September
Chinese and Russian warships ships spotted off Alaskan island. Sky News, 27 September
Italy likely to leave the Belt and Road under Giorgia Meloni. RailFreight, 26 September
Economy & tech
Apple expands iPhone production in India in shift away from China. Apple has begun producing its iPhone 14 model in southern India, as the company works to diversify its supply chains out of China. Apple, which makes most of its iPhones in China, has been shifting some of its production outside the country as geopolitical tension rises between Washington and Beijing. China’s harsh pandemic policies with sweeping lockdowns have also disrupted business. FT, 26 September
Chinese financial groups move into Hong Kong office market. Chinese financial groups are moving into the Hong Kong office market as an exodus among foreign organizations drives vacancy rates to record highs. Banks, investment managers and insurers have boosted their footprint in the Central business district by just under 200,000 square feet over the past three years, largely fuelled by mainland Chinese companies' IPOs. Nikkei Asia, 27 September
For China’s auto market, electric isn’t the future. it’s the present. NYT, 26 September
China focus
Countdown to China’s Communist Party congress enters final stages with release of delegate list. Xi has “personally deployed” the selection of the delegates and has heard multiple reports on the progress, a spokesperson with the Central Organisation Department, the party’s organ to oversee cadre selection, told state news agency Xinhua on Monday. Xinhua, 26 September
‘Painful lessons’: call for China’s Communist Party to avoid ‘strategic mistakes’. The Communist Party cannot afford to make “strategic mistakes” as it did during the Cultural Revolution, the former executive vice-president of the Central Party School has said. SCMP, 27 September
Chinese mainland students are flocking back to Hong Kong universities. Caixin, 27 September
Long reads & opinion
Here’s how rumours of Xi Jinping’s ‘arrest’ and ‘coup’ started. Aadil Brar. The Print, 26 September
The cost of China’s information vacuum. Reduced access for foreign experts is making it even harder for governments to understand decision-making in Beijing. Kathrin Hille. FT, 27 September
Britain must act fast to secure vital minerals supply. Amber Rudd. The Times, 26 September
The scramble for rare earths carries big geopolitical risks. Misha Glenny. FT, 27 September