China News - 9 September 2021
International
Pro-China online network used fake accounts to urge Asian-Americans to attend protests, researchers say. According to research published on Wednesday by Mandiant and Alphabet’s Google unit, thousands of accounts across dozens of social-media platforms—including Facebook, YouTube and Twitter —and online forums have urged Asian-Americans into the streets to protest against racial injustice in the US. The network of fake social media accounts is “almost certainly supported by a government sponsor, either directly through a government agency or a third-party contractor”. WSJ, Reuters, CNN, 8 September
UK-led Cop26 talks at risk over China’s refusal to move faster in cutting emissions. In leaked documents outlining their negotiating position seen by the Telegraph, Beijing says its current climate commitments represent its “utmost efforts” and are “consistent” with the Paris Agreement. The documents also show that Beijing argues it is providing necessary funding to developing countries that cannot afford to switch to renewable energy. The Telegraph, 9 September
Climate change promises dropped from UK-Australia trade deal. Sky, The Times, 9 September
Contagion fear as China property giant Evergrande struggles to repay $300bn debt. Trading in one of the company’s bonds was suspended by the Shenzhen stock exchange on Thursday morning after the price plunged 20%. The world’s most indebted property developer said last week it could fail to make good on its financial obligations. The Guardian, FT, 9 September
China offers $31m in emergency aid to Afghanistan. China has pledged 200 million yuan ($31m, £22m) worth of aid to Afghanistan, including food supplies and coronavirus vaccines. Chinese Foreign Minister Wang Yi on Wednesday attended the first meeting of foreign ministers of Afghanistan's neighbouring countries in Beijing via video link. BBC, Xinhua, 9 September
Raab criticises Hong Kong arrests as latest attempt to stifle dissent. Hong Kong authorities today raided the city’s Tiananmen massacre museum, a day after arresting four members of the civil society group that ran it. Reuters, The Guardian, 9 September
Ai Weiwei: Credit Suisse closed bank account over criminal record in China. BBC, 8 September
China focus
Chinese state media signal Beijing’s attempt to ease panic about its tech crackdown in unusual front-page editorial. People’s Daily published a front-page editorial with a conciliatory tone, saying Beijing’s disciplining of the tech sector is aimed at establishing a “new development structure” and pushing for “high-quality” growth. SCMP, 9 September
Tencent and NetEase shares fall as China urges end to profit focus in gaming. China’s two leading gaming companies were summoned for talks on Wednesday in Beijing. SCMP reports that the Chinese government has temporarily suspended approval for all new online games in the company. FT, SCMP, 9 September
China bans private tutors from giving classes online or in unregistered venues. Authorities this year banned for-profit tutoring in subjects on the school curriculum. Reuters, 8 September
Foreign brands criticised in China for misleading shoppers. Chinese state media has rounded on several foreign brands after authorities fined the Chinese unit of clothing company Canada Goose for false advertising. Reuters, 8 September
Economy & tech
Cathie Wood’s Ark cuts China positions ‘dramatically’. Cathie Wood, the chief executive of Ark Invest and one of the world’s most closely watched investors, said her fund had significantly reduced its exposure to China, leaving only a portfolio of companies that were identifiably “currying favour” with Beijing. FT, 9 September
Chinese debts unravel historic British fashion stores. Troubles in China are putting some of the oldest names in British fashion in a precarious position, with Aquascutum quietly pulling out of the UK entirely and Gieves & Hawkes battling a winding-up order. The Times, 8 September
China's factory inflation hits 13-year high as materials costs soar. Reuters, 9 September
Longer reads & opinion
Kevin Rudd on China's New Economic Approach. Asia Society, 8 September
China is OK with interfering in Guinea’s internal affairs. Beijing has dropped its principle of non-interference to oppose the recent coup for practical reasons. Foreign Policy, 8 September
Is China Taking a Maoist Turn? An Incendiary Essay Ignites Discussion. NYT, 8 September
Thunderer: Hollywood should stop self-censoring to appease China. The Times, 9 September