China News - 6 September
International
China on the agenda: 2024 candidates fret over how to deal with Beijing. Carrie Filipetti, executive director of the Vandenberg Coalition, says that China will be an enduring concern for voters as “it’s not only a foreign policy issue. It’s in many ways also a domestic policy issue”. As China’s economic and even military status directly affect people in the US. Robert Tait. The Guardian, 5 September
Chinese gate-crashers at US bases spark espionage concerns. Washington has tracked around 100 Chinese nationals, occasionally posing as tourists, trying to access American military bases and other installations on different occasions. US officials describe these incidents as potential espionage threats. Gordon Lubold, Warren P. Strobel and Aruna Viswanatha. WSJ, 4 September
New Vanuatu prime minister wants to “revisit” the security pact with Australia. Sato Kilman also hits back at reports on his political alignments saying, “we are not pro-West, we are not pro-Chinese, we adopt a non-aligned policy”. The Guardian, 5 September
Despite Rome’s scepticism, China says Belt and Road cooperation with Italy “fruitful”. Wang Yi, China’s Foreign Minister, said high-quality Italian products had entered “thousands of households” in China. Wang told Antonio Tajani that “the thousand-year friendship inherited from the ancient Silk Road has endured”. Liz Lee and Ryan Woo. Reuters, 5 September
Hong Kong’s top court urges alternative legal framework for same-sex couples. Hong Kong’s top court has partially approved a landmark appeal for the recognition of overseas same-sex marriages. It also calls for an alternative legal framework to legitimise these couples’ basic social needs. Jessie Pang. Reuters, 5 September
Russia proposes joint naval drills with North Korea and China. According to South Korean intelligence, Russian defence minister Sergei Shoigu proposed joint exercises during a meeting with Kim Jong Un in July. Although both political and military ties have increased since Russia’s invasion of Ukraine, joint naval exercises would be a first for the Pyongyang regime, and would mark a new level of cooperation. Christian Davies. Financial Times, 4 September
Economy & Tech
IMF chief hails “productive” talks as she wraps up China visit. Kristalina Georgieva, Managing Director of the IMF, had “very productive and substantive discussions with the Chinese leadership”, including Premier Li Qiang, Vice Premier He Lifeng, central bank Governor Pan Gongsheng and Finance Minister Liu Kun. Al Jazeera, 5 September
UK stocks fall on China gloom; Ashtead slides on weak outlook. London’s main stock indexes opened lower after subdued economic data from China dented the global sentiment. The blue-chip FTSE 100 index was down 0.8% and the FTSE 250 index, 0.4%. Siddarth S. Reuters, 5 September
Chinese developer Country Garden avoids default on dollar bonds. Country Garden has made payments of two dollar bonds within their grace periods, ending the month-long saga. The company’s Hong Kong listed stock pulled back from a drop of almost 5% to 3%. Hudson Lockett and Cheng Leng. Financial Times, 5 September
China to launch a new $40bln state fund to boost chip industry. It is likely to be the biggest of three funds launched by the China Integrated Circuit Industry Investment Fund (Big Fund). This comes as China ramps up efforts to catch up with the US and other rivals in the chip industry. Julie Zhu, Kevin Huang, Yelin Mo and Roxanne Liu. Reuters, 5 September
Tesla sues Chinese firm over tech secret infringement. Tesla has sued Bingling Intelligent Technology, a chip designer and auto parts maker, over tech secret infringement and unfair competition disputes. The lawsuit will be heard in the Shanghai intellectual property court on October 10. Qiaoyi Li and Brenda Goh. Reuters, 5 September
Chinese offshore turbine sets record for electricity generated in 1 day, aided by Typhoon Haikui’s strong winds. The turbines built by the Three Gorges Corporation have an innovative design allowing intelligent blades to adjust in real time. This meant that they produced 384.1 megawatt hours in the strong winds, which is enough to power nearly 170,000 homes. Zhang Tong. South China Morning Post, 5 September
Opinion & long-reads
Has China’s economy run out of steam? Cracks as a result of structural weakness have started to appear. In the city of Zunyi, there are clear signs of the nation’s poor economic health. It is filled with unfinished infrastructure projects and empty apartments, where money seems to have simply run out. Helen-Ann Smith. Sky News, 5 September
China’s demand dilemma could spell trouble for the world. World leaders at the G20 can signal to everybody, including China, their objection to policies aiming to stabilise their domestic economic situation on the back of demand from others. Robin Harding. Financial Times, 5 September
China’s Great Wall damaged by workers looking for a shortcut. Part of the Great Wall of China has been severely damaged by construction workers in central Shanxi province. A 38 year old man and a 55 year old woman have been detained by the police as they were excavating near the area. They dug a “big gap” to widen an existing cavity, causing “irreversible damage to the integrity of the Ming Great Wall and to the safety of cultural relics”. Fan Wang. BBC News, 5 September
Edinburgh pandas will go back to China in December, zoo confirms. The Royal Zoological Society of Scotland announced that Yang Guang (Sunshine) and Tian Tian (Sweetie) will be leaving Edinburgh. The two pandas were brought to Scotland in 2011 as part of a 10-year agreement with the China Wildlife Conservation Association. Paul Cargill. The Independent, 4 September