China News - 31 October
International
China pledges to renew military dialogue with US while criticising meddling. Zhang Youxia, vice-chair of the Central Military Commission, said “we will deepen strategic cooperation and coordination with Russia, and we are willing to develop military relations with the US based on mutual respect, peaceful coexistence and win-win cooperation”. Kathrin Hille. Financial Times, 30 October
China and Russia take aim at US at Chinese military forum. At the Xiangshan Forum, Shoigu said “the Western line of steady escalation of the conflict with Russia carries the threat of a direct military clash between nuclear powers, which is fraught with catastrophic consequences”. Yew Lun Tian. Reuters, 30 October
US vows to support “free media” in Pacific as concern over China influence grows. Elizabeth Allen said that the support would take “different forms” and the US is “certainly looking to partner with media sectors across the region, and giving them more support”. Virginia Harrison. The Guardian, 30 October
Russia’s weaker hand undermines case for power of Siberia 2 gas link to China. The pipeline plan has gained urgency as Moscow aims to double its gas exports to China to make up for the collapse of its exports to Europe after their invasion of Ukraine. However, agreements on some key issues, including pricing, remain elusive. Vladimir Soldatkin. Reuters, 30 October
“Other leaders are corrupt”: Li Keqiang mourning poses challenge for Beijing. The former premier’s death creates a sensitive moment for China’s Communist party. Li was largely side-lined by Xi, and many mourners are praising his uniqueness in Chinese government, “we have a lot of other leaders who are corrupt but he wasn’t one of them”. Sun Yu and Joe Leahy. Financial Times, 31 October
Hong Kong court jails ex-student leaders for inciting violence against police. The court sentenced four former members of the student union of the University of Hong Kong to 2 years in jail for enticing others to wound police officers after they issued a statement supporting a man who stabbed a policeman. Jessie Pang. Reuters, 30 October
Economy & Tech
China holds major financial conference as leaders aim to get economy back on track. The National Financial Work Conference is expected to fortify Xi’s control over China’s $61tr financial sector. Elaine Kurtenbach. ABC News, 30 October
China tech IPOs decline as regulators turn tough on start-ups. Public records show that 126 companies have cancelled or suspended IPO applications on Shanghai’s Star Market this year, which is more than the last four years combined. Sun Yu. Financial Times, 29 October
Broadcom-VMware merger held up as China delays $69bn deal. The companies issued a joint statement saying they expected Broadcom’s acquisition on VMware will close soon, but in any event prior to the expiration of their merger agreement” of 26 November. Tim Bradshaw, Arash Massoudi, Maxime Kelly, Cheng Leng, Qianer Liu and Ryan McMorrow. Financial Times, 30 October
Flights in China to increase 34% above pre-pandemic levels. China’s aviation regulator said this increase in domestic flights will further boost the recovery of Chinese airlines post Covid. Eduardo Baptista. Reuters, 28 October
Shein buys Missguided brand in first UK takeover for Chinese giant. The Chinese fast fashion company said it will “reignite” the Missguided brand. August Graham. The Independent, 30 October
Opinion & long-reads
As China looks to broker Gaza peace, antisemitism surges online. Even as Beijing seeks to turn down the temperature diplomatically, a surge of antisemitism and anti-Israeli sentiment is spreading across the Chinese internet and state media. Daisuke Wakabayashi, Tiffany May and Claire Fu. nytimes, 28 October
Has China’s Belt and Road Initiative been a success? Interview. Financial Times, 30 October
Xi says China’s women must start a “new trend of family”. The Chinese president said it is necessary to “cultivate a new culture of marriage and childbearing and strengthen guidance on young people’s view on marriage, childbirth and family”. Farah Master. 30 October
Why the rusting wreck of a second world war ship is so important to China. Abandoning the ship would mark a difficult retreat for the Philippines, as the Sierra Madre is a “symbol of how far and by how much our sovereignty and sovereign rights stretch” according to Jaime Naval, assistant professor at University of the Philippines. Rebecca Ratcliffe. The Guardian, 30 October