China News - 8 December 2020
International
US puts sanctions on further 14 Chinese officials over Hong Kong crackdown. The Trump administration added 14 vice-chairpersons of the National People’s Congress Standing Committee to its sanctions blacklist. Chinese foreign ministry and office for Hong Kong have warned there will be consequences. WSJ, NYT, FT, 8 December
EU and Britain decline, for now, to sanction Chinese officials involved in Hong Kong and Xinjiang actions. SCMP, 8 December
Human rights trade bill amendment passes through House of Lords. The amendment to the UK’s post-Brexit trade bill, put forward by Lord Alton, adds a new clause which would prevent the UK from entering into trade agreements with states accused of committing genocide, as determined by the High Court of England and Wales. The amendment passed by 287 to 161, and will now go the House of Commons. Debate, 7 December
Eight Hong Kong activists arrested over security law protest. Eight Hong Kong democracy activists, including three former lawmakers, were arrested Tuesday for “inciting secession”, as authorities continue to impose a tough new security law. The Telegraph, BBC, 8 December
China curtails overseas lending in face of geopolitical backlash. Lending by the China Development Bank and the Export-Import Bank of China collapsed from a peak of $75bn in 2016 to just $4bn last year. FT, 8 December
Suspected Chinese spy targeted California politicians, developing extensive ties with local and national politicians. Axios, 8 December
Australia-China relations: Economic decoupling from China would be 'act of national self-sabotage', Australian Labor and Liberal MPs agree, warn against ‘descent into McCarthyism’. The Guardian, Full report, 7 December
Australia’s allies need to help it stand up to China or risk being ‘picked off’ too, former Hong Kong governor Chris Patten warns. The Guardian, 8 December
Hong Kong church pastor says HSBC froze personal and charity bank accounts. The Guardian, 8 December
China watch
China to build 10,000km of high-speed rail to link city clusters within five years. The country plans to expand its railway network, the second largest in the world, by one-third in the next decade and a half. CGTN, 8 December
CCP unveils outline for building law-based society by 2025. Xinhua, 7 December
JD Health soars on Hong Kong’s biggest stock market debut of 2020. JD Health is the online pharmaceutical and healthcare spinoff of China's second-biggest online retailer JD.com. BBC, 8 December
Economy & tech
Chinese household debt surges through the pandemic, rising by about $380 billion - almost four times as large as the second-place US. WSJ, 8 December
Wall Street: Goldman Sachs set to be first bank with 100% ownership of China securities venture as Beijing continues to liberalise financial markets. Bloomberg, 8 December
Second judge says Trump can’t ban TikTok, granting preliminary injunction. The Verge, 8 December
China removes TripAdvisor, 104 other apps from stores under cleansing campaign to enforce cyber laws. Yahoo Finance, 8 December
Finland, home of Nokia, set to pass law which may exclude Huawei from networks. Sky News, 8 December
Longer reads & opinion
The provocateur driving China’s ‘wolf warrior’ pack. Zhao Lijian “crystallised a model for diplomacy with a jagged edge”. FT, 8 December
What did the Politburo learn in 2020? A comprehensive review of Xi's priorities from the monthly group studies: IPR, Quantum Science, Archaeology, Defense, Organizational Line and Civil Code. Pekingnology, 4 December
Strategic state debt reprieve for lithium producer shines light on Beijing’s priorities. FT, 8 December
China looks ahead to 20th Party Congress in 2022. The Diplomat, 7 December
China is rethinking its role as a leader on the world stage, drawing on memories of the role the country played in shaping the post-War. Rana Mitter in Engelsberg Ideas, 7 December
The Year of TikTok. Rest of The World, 7 December