China News - 8 November

International

Japan and UK ministers are to discuss further deepening of security ties on the sidelines of G7. Japanese and British ministers are set to talk about a new security pact that would allow their militaries to enter each other’s turf for joint exercises as regional tensions rise. Mari Yamaguchi. The Independent, 7 November 

Anthony Albanese’s China trip is historic- but for Canberra not for Beijing. A key question about the meeting’s impact is “whether this is a reversal by Beijing on its coercive approach to Australia or part of a long game to shape the politics and policy of the Australia-China relationship”. Helen Davidson. The Guardian, 7 November

Lobster looms on Chinese menus but Albanese hedges on Beijing’s trade pact pitch. Albanese’s comments send a strong signal to Beijing that it should end unilateral trade restrictions if it is to have any prospect of joining the Comprehensive and Progressive Agreement for Trans Pacific Partnership. David Crowe and Eryk Bagshaw. Smh, 5 November

“The China Project” media shuts, blaming “politically-motivated attacks”. The China Project, an independent media company known for its influential coverage of Chinese politics and society, has announced it will shut its doors owing to funding problems caused by “politically-motivated attacks”. Erin Hale. Al Jazeera, 7 November

Economy & Tech

European “photonics” chip companies call for $4.5bn in EU funding. Executives from a group of Europe’s largest “photonic” computer chip companies have called on the EU to help it compete with its rivals in Asia and the US. Toby Sterling. Reuters, 7 November

IMF upgrades China growth outlook. Gita Gopinath said “the authorities have introduced numerous welcome measures to support the property market…but more is needed to secure a quicker recovery and lower economic costs during the transition”. Cheng Leng, Hudson Lockett, Kaye Wiggins and Joe Leahy. Financial Times, 7 November

China to accelerate issuance of government bonds, finance minister says. China’s finance minister Lan said “the Ministry of Finance will continue to implement a proactive fiscal policy, focus on improving efficiency, and play the effectiveness of fiscal policy”. Martin Quin Pollard and Wang Shuyan. Reuters, 5 November

China culls spending in response to US trade hostility. The US restrictions imposed over national security concerns have taken their toll on the US communities that are dependent on foreign-owned projects. Amanda Chu and Claire Bushey. Financial Times, 7 November

Falling pork prices threaten to push China back into deflation. Live hog futures traded on China’s Dalian Commodity Exchange have dropped about 15% since October, and wholesale pork prices have decreased more than 40% since last year. Hudson Lockett. Financial Times, 7 November

Will Chinese financing be the saviour of the Japanese video game industry? Although Japan is seen as the home of games, the sector is struggling and China has started to poach its talent. Simon Parkin. The Guardian, 7 November

Chinese tech founder taken away by authorities. The founder of Tencent-backed game-streaming site DouYu, Chen Shaojie, was taken away several weeks ago. The authorities are supposedly probing pornography and gambling. Qianer Liu and Ryan McMorrow. Financial Times, 7 November

Opinion & long-reads

AI: Beijing sees Ant as partial antidote to US antagonism. China’s ambitions in AI give the business a chance to make a comeback. Financial Times, 6 November

The global constraints to Chinese growth. Many more years of high economic expansion are only possible if the country restructures to boost domestic consumption. Michael Pettis. Financial Times, 7 November

Chinese alarm after second gym collapse in Heilongjiang province kills three. The cave-in of the roof came after days of unseasonably cold weather and snowfall. The three victims are all middle school students. Frances Mao. BBC News, 7 November