China News - 29 November
International
UK will not return to Cameron era’s close ties with China, Sunak says. The PM said he does not intend to change the UK’s policy towards Beijing at a summit to drum up foreign investment. Jasper Jolly and Alex Lawson. The Guardian, 27 November
China influencing leading British universities, documentary claims. Available to watch this evening, Channel 4’s Dispatches Documentary, Secrets and Power: China in the UK alleges that the University of Nottingham closed its School of Contemporary Chinese Studies in 2016 in response to pressure from Beijing, and an Imperial College professor collaborated on AI. Amy Hawkins. The Guardian, 28 November
China trials visa-free travel for 6 countries. China’s foreign ministry has announced it is trialling visa-free travel for citizens of France, Germany, Italy, the Netherlands, Spain and Malaysia for a year. BBC News, 24 November
China’s Xi urges stronger rule of law overseas amid “external risks”. During the Communist’s Party powerful political bureau, Xi said that to protect China’s overseas citizens and interests, it was necessary to deepen international cooperation on law enforcement, strengthen consular protection and build a strong rule of law. Ryan Woo. Reuters, 28 November
Asian neighbours “put guard up” amid fears China’s wave of disease will spread. Health authorities in India, Nepal, Taiwan and Thailand have told doctors to increase surveillance and be on alert for pneumonia cases should it spread beyond China. Sarah Newey, Nicola Smith and Samaan Lateef. Telegraph, 28 November
China coastguard says it warns off Japanese ships in disputed waters. Beijing has warned Japan to cease all “illegal activities” in the area immediately to ensure that similar incidents do not happen. Reuters, 28 November
Chinese Super League: From bidding for Bale to selling the team bus. The rise of the Super League came alongside Xi’s wish to turn China into a footballing nation. Sophie Williams. BBC Sport, 28 November
Economy & Tech
China’s Alipay to sell its stake in India’s Zomato for nearly $400mn. Ant Group owned Alipay will sell its entire 3.44% stake in the deal. M Sriram. Reuters
Chinese fashion giant Shein has filed paperwork to float on US stock market. The listing would be the largest IPO in years, as the company hopes for a valuation of $80-90bn. Helen Davidson. The Guardian, 28 November
China food delivery firm Meituan beats revenue expectations amid economic headwinds. Meituan posted a larger than expected rise of 22.1% in third-quarter revenue on Tuesday. Casey Hall. Reuters, 28 November
Deloitte and KPMG ask staff to use burner phones for Hong Kong trips. This is a clear sign of the increasing difficulties that global companies are facing in a city long known as an international business hub. Kaye Wiggins, Leo Lewis and Joe Leahy. Financial Times, 27 November
Goldman Sachs pares back “growth at all costs” China strategy. The chief executive David Solomon warned that tensions between Washington and Beijing could take years to resolve, so they have moved away from their “growth at all costs” strategy. Joshua Franklin. Financial Times, 28 November
Quant hedge funds bet on China despite investor exodus. Computer driven hedge funds are betting that China’s financial market continues to offer plenty of money-making opportunities despite the mass foreign investor exodus. Costas Mourselas, Arjun Neil Alim and Hudson Lockett. Financial Times, 28 November
The human cost of China’s property crisis. The impact of the property crisis has been immense, with indebted buyers uncertain if they will ever move into their new homes and angry about the loss of their deposits. Thomas Hale, Gloria Li and Chan Ho-him. Financial Times, 28 November
Opinion & long-reads
Cameron’s first interview on UK-China ties “carefully strikes balance”. David Cameron emphasised the need to engage with China while supporting a “realistic and hard-headed” approach by the government. Chen Qingqing. Global Times, 2 November
Business should get out of China while it still can. The global companies that were once fighting to get into China, are now pulling out and they are right to do so. Matthew Lynn. Telegraph, 28 November
What Hong Kong’s banker malaise signifies. After the pandemic, investment banking in Hong Kong has more or less collapsed. Craig Coben. Financial Times, 27 November
11 killed in accident at northeast China coal mine. The Shuangyang coal mine in China’s Heilongjiang province experienced a rock burst, but the exact cause of the accident is under further investigation. Andrew Hayley. Reuters, 28 November