Hong Kong; Patriotic education in the New Era; Still no phase one trade deal
Hi everyone, almost back to normal, appreciate your patience.
Watching this week’s events in Hong Kong is heartbreaking. There is growing speculation that Beijing may be on the verge of sending in the PLA and/or the People’s Armed Police to attempt to restore order. I am skeptical that anything like that is imminent.
There however seems to be no obvious pathway to the restoration of anything resembling order in the city. It appears Xi Jinping has decided to allow chaos to increase, believing that the growing contradictions inside Hong Kong society will ultimately lead to so much anger from most of the Hong Kong populace towards the “radical” protestors that the protests will eventually end. I am not saying that is a good assumption, just that in the absence of any good choices that is the one the CCP may consider to be the best one.
If that is the approach then expect things to get much worse, and continue for much longer.
The growing chaos and economic pain in Hong Kong does have real propaganda value for the Communist Party. The CCP has railed for years against foreign interference and color revolutions, and now the propagandists can easily argue that one has arrived in PRC territory, and as in other countries it has brought chaos, violence and economic pain, and that the stability that the CCP brings demonstrates the superiority of the PRC system.
One conspiracy theory that has been going around since this round of protests began is that somehow the “Jiang Zemin faction” incited these protests as a way to pressure Xi and lead him into a policy mistake that would ultimately lead to a diminution of his power if not his out outright removal. That conspiracy theory ascribes little to no agency to the Hong Kong people, and I have always been very skeptical of it. It also ignores the fact that the top official in the bureaucracy for Hong Kong policy is Han Zheng, a Jiang Zemin guy, and that if there is going to be senior-level accountability for the Hong Kong mess then Han’s head might be the one to roll.
With the introduction of Xi Thought at the 19th Party Congress, Xi can not be wrong unless the Party itself is wrong, and when would they admit that? Even if Xi is to blame do not expect him to be blamed.
Perhaps the blow to my head last week has killed more brain cells that I realize, but if you are Xi Jinping, is the Hong Kong mess as threatening to your power as some commentators think, or has it become an opportunity he can use to his advantage?
Thanks for reading.
The Essential Eight
1. Hong Kong
The radicals again put up barricades and carpeted roads in multiple places, including in the Central financial district, Mong Kok, Kowloon Tong, Yuen Long and Tuen Mun, with bricks and projectiles...
Their actions continued throughout the day and, at night, a flash mob appeared at the Cross-Harbour Tunnel tollbooths and set them on fire, as panicked attendants fled in fear. The flames were put out quickly but less than two hours later radicals were back to set them ablaze again...
Police Senior Superintendent Kelvin Kong Wing-cheung said 1,576 rounds of tear gas, 1,312 rubber bullets, 380 beanbag rounds and 126 sponge-tipped rounds were fired on Tuesday while the other side hurled “hundreds” of petrol bombs, and at Chinese University, at least three flaming arrows.
Hong Kong to shut all schools on Thursday for safety reasons - Reuters
All schools in Hong Kong will suspend classes on Thursday due to transportation and safety reasons, the Hong Kong Education Bureau said on Wednesday.
The Chinese University of Hong Kong has announced a premature end to the semester after two days of protester-police clashes on campus. Other universities also announced special term arrangements.
In a statement late on Tuesday, the central government’s liaison office said it “resolutely supports the Hong Kong government in adopting every necessary measure to end the unrest and restore order as soon as possible, arrest the criminals and severely punish their violent acts”...
It called on the Hong Kong government, police and judiciary to “decisively adopt all necessary means to forcefully crack down on various acts of violence and terrorism”.
The man was among more than 20 local people who were clearing bricks left by protesters on Lung Wan Street outside the Sheung Shui MTR station around noon. He becomes the second victim to suffer life-threatening injuries in an attack by protesters in the city since Monday.
China State Media Condemns Protesters; Warns of Intervention - Bloomberg
From late Tuesday to Wednesday morning, major state-owned news outlets including the Communist Party’s Global Times, People’s Daily and Xinhua News Agency ran stories on Hong Kong highlighting destructive behavior by pro-democracy protesters. The Global Times repeated a warning that Beijing could intervene militarily...
The coverage is in line with Beijing’s approach of framing the months-long protests as being led by a small group of extremists who are holding Hong Kong’s economy hostage against the wishes of the majority of residents.
In Shenzhen, the city’s branch of the Communist Youth League is allowing students returning to the mainland to stay free for up to seven days at one of 12 of its accommodation facilities, the league said in an online notice early Wednesday morning...
Various community organisations in Hong Kong, including the Federation of Hong Kong Hubei Associations, also said it would help students from the province planning to leave the city.
Not clear why people are so angry: Matthew Cheung - RTHK
Chief Secretary Matthew Cheung said on Wednesday that he had no public opinion poll on hand to explain public anger against the authorities, with his comment in Legco sparking disbelief among pro-democracy lawmaker
Events in Hong Kong reveal the thin veneer of civilisation | Financial Times $$ Jamil Anderlini OpEd
Demonstrators and police officers are experiencing a kind of epiphany when they realise there are no repercussions for smashing the thin veneer of civility. As a consequence, the range of acceptable behaviour has widened dramatically and the most brazen and outrageous actions are becoming normalised. This is fed by social media echo chambers. Pro-Beijing government supporters see and share only the vandalism and beatings carried out by demonstrators, while protest sympathisers focus only on police or triad violence.
China will take strong countermeasures if US passes Hong Kong bill - Global Times
Chinese Foreign Ministry warned Wednesday that if the "Hong Kong Human Rights and Democracy Act" is passed by the US Senate and becomes law, China will definitely take strong countermeasures, while a Chinese expert said the act has no international legal basis and only shows that US politicians want to feed the "fire of chaos to keep it burning in the city."
China refutes U.S., U.K. remarks on Hong Kong violence - Xinhua
Geng told a press briefing that grabbing police firearms, assaulting or threatening officers on duty were absolutely forbidden in any country and would be dealt with strong police force.
"I want to ask the U.S. and British officials: How would their police deal with similar situations in their countries?" Geng said.
Speaking about a civilian who was set on fire by rioters for publicly expressing his objections to vandalism by the rioters, Geng said the remarks from Washington and London exposed their hypocrisy and double standards.
"People cannot help but ask: Is that the professional ethics these Western media are proud of? Do they still have any basic sense of morals or justice?" the spokesperson asked.
Relevant Western media were urged to immediately stop distorting the truth or pouring fuel on the fire in Hong Kong. "Otherwise, they would only be condemned by all fair-minded people, including 1.4 billion Chinese," the spokesperson warned.
In Hong Kong, an accountant by day becomes street fighter by night - The Washington Post
Alibaba launches $13.4 billion Hong Kong listing to fund expansion - Reuters
A 661-page draft prospectus for what looks set to be the world’s biggest cross-border secondary listing shows Alibaba plans to use the money to invest in online delivery and local services platform Ele.me, as well as online travel group Fliggy.
It will also spend more on developing Youku, which Alibaba says is one of the leading online video platforms in China.
2. Patriotic education in the New Era
China unveils outline for strengthening patriotic education - Xinhua
The Communist Party of China (CPC) Central Committee and the State Council have published an outline for promoting patriotic education in the new era.
Strengthening patriotic education in the new era is of great and far-reaching significance to inspiring a Chinese ethos, uniting the whole nation, securing a decisive victory in building a moderately prosperous society in all respects, striving for the great success of socialism with Chinese characteristics for a new era, and realizing the Chinese Dream of national rejuvenation, said the document...
According to the document, the education should focus on young Chinese and patriotism should be embedded in the whole process of school education.
The document required better use of mass media, fine literary and artistic works and online patriotic content to create a sound atmosphere for patriotic education in the new era.
The outline - 中共中央 国务院印发《新时代爱国主义教育实施纲要》-新华网
6 sections, 34 items, propaganda organs and related enterprises should be pleased, will see a lot more money for the various items and activities outlined
Some highlights, via a rough translation from Youdao:
5. Persist in starting from early childhood, strengthen the root and cultivate the vital energy [固本培元 is a TCM term], concentrate the mind and cast the soul, highlight the ideological content and strengthen the idealogical guidance...
要坚持从娃娃抓起，着眼固本培元、凝心铸魂，突出思想内涵，强化思想引领...
7.....We will promote the introduction of xi jinping thought on socialism with Chinese characteristics for a new era into enterprises, rural areas, government offices, schools, communities, military camps and the Internet, so that the party's innovative theories take root and bear fruit. We need to integrate knowledge with practice and apply what we have learned into practice. We need to guide officials and the people to follow the guidance of xi jinping thought on socialism with Chinese characteristics for a new era, show a new look, inspire new initiatives, and turn the achievements of our learning and education into concrete actions to serve our country and our country.
...推动习近平新时代中国特色社会主义思想进企业、进农村、进机关、进校园、进社区、进军营、进网络，真正使党的创新理论落地生根、开花结果。要在知行合一、学以致用上下功夫，引导干部群众坚持以习近平新时代中国特色社会主义思想为指导，展现新气象、激发新作为，把学习教育成果转化为爱国报国的实际行动。
14. We will strengthen education in national security and national defense. National security is an important cornerstone of peace and stability. We should strengthen national security education, thoroughly study and publicize the concept of overall national security, raise the awareness of the whole party and the people as a whole about national security, and consciously safeguard political security, homeland security, economic security, social security, cyber security and external security. We should strengthen education in national defense, raise the public's awareness of national defense, and make it the ideological consensus and conscious action of the whole society to care about, love, build and defend national defense. We should carry out intensive publicity and education to enhance our awareness of potential dangers and prevent and defuse major risks, guide officials and the people to strengthen their awareness of risks, identify risks scientifically and effectively respond to them, so as to be prepared for dangers in times of peace and prevent them from happening.
14．加强国家安全教育和国防教育。国家安全是安邦定国的重要基石。要加强国家安全教育，深入学习宣传总体国家安全观，增强全党全国人民国家安全意识，自觉维护政治安全、国土安全、经济安全、社会安全、网络安全和外部安全。要加强国防教育，增强全民国防观念，使关心国防、热爱国防、建设国防、保卫国防成为全社会的思想共识和自觉行动。要深入开展增强忧患意识、防范化解重大风险的宣传教育，引导广大干部群众强化风险意识，科学辨识风险、有效应对风险，做到居安思危、防患未然。
29. Sing the theme of Internet patriotism. We will strengthen the construction of patriotic online content, carry out a wide range of online themed education activities, and make and promote content that reflects patriotism, audio, short video, online articles, documentaries and micro films suitable for online dissemination, so as to fill the cyberspace with patriotism. We will carry out a digital construction project for patriotism, and promote the organic integration of patriotism education bases, red tourism and online communication. Innovative means of communication carrier, active use of microblog WeChat, social media, video website, mobile phone client and other communication platforms, the use of virtual reality, augmented reality, mixed reality and other new technologies and new products, to carry out lively online patriotism education. We should give full play to the role of the learning platform in patriotic propaganda and education. We will strengthen guidance of online public opinion, carry out comprehensive governance in accordance with the law and regulations, and guide Internet users to consciously resist wrong words and deeds that harm national honor or negate China's excellent traditional culture, so as to pool positive energy online.
29．唱响互联网爱国主义主旋律。加强爱国主义网络内容建设，广泛开展网上主题教育活动，制作推介体现爱国主义内容、适合网络传播的音频、短视频、网络文章、纪录片、微电影等，让爱国主义充盈网络空间。实施爱国主义数字建设工程，推动爱国主义教育基地、红色旅游与网络传播有机结合。创新传播载体手段，积极运用微博微信、社交媒体、视频网站、手机客户端等传播平台，运用虚拟现实、增强现实、混合现实等新技术新产品，生动活泼开展网上爱国主义教育。充分发挥“学习强国”学习平台在爱国主义宣传教育中的作用。加强网上舆论引导，依法依规进行综合治理，引导网民自觉抵制损害国家荣誉、否定中华优秀传统文化的错误言行，汇聚网上正能量。
Propaganda Department official explains the outline - 加强新时代爱国主义教育 凝聚奋进新时代实现民族复兴的磅礴伟力—中央宣传部负责人就《新时代爱国主义教育实施纲要》答记者问
3. US-China
Tariffs on China Imports Emerge as Hurdle to Trade Deal - WSJ $$
The logjam centers on whether the U.S. has agreed to remove existing tariffs in the so-called “phase one” deal that the two countries have been working toward—or whether the U.S. would only cancel tariffs set to take effect Dec. 15, according to people familiar with the talks...
U.S. trade representative Robert Lighthizer initially opposed a move to add new tariffs on $111 billion in consumer goods on Sept. 1, the Journal reported. Yet despite those reservations, Mr. Lighthizer sees the latest tariffs, now U.S. policy, as leverage and isn’t eager simply to eliminate them without commitments from Beijing, according to the people familiar with the negotiations.
Trump Renews Tariff Threat Against China and Touts U.S. Economic ‘Boom’ - The New York Times
In an interview later on Tuesday, Larry Kudlow, the director of the National Economic Council, said that it was “possible” that tariffs could be adjusted as part of the deal, but that neither side would agree to any tariff adjustments until the entire deal was finalized.
U.S. manufacturing group hacked by China as trade talks intensified - sources - Reuters
The National Association of Manufacturers (NAM) was hacked over the summer and hired a cybersecurity firm, which concluded the attack came from China, the two sources said.
The security firm, which the sources did not name, made the assessment based on the usage of tools and techniques previously associated with known Chinese hacking groups, they said.
Chinese importers buy U.S. soybean cargoes despite ports congestion - Reuters
Chinese commercial crushers have bought up to 7 cargoes of American soybeans this week for December and January shipment thanks to competitive U.S. prices versus South American prices and good crush margins in China, said two traders familiar with the matter.
US provokes China with Taiwan Straits transit, pressures trade talks: expert - Global Times
The People's Liberation Army (PLA) Eastern Theater Command said the US guided-missile cruiser's transit through the Taiwan Straits was kept under surveillance and Chinese experts said that China should strengthen its military capability as the US increases its military provocations targeting China's sovereignty over Taiwan, which could increase potential risks of a military conflict.
All movements of US vessel and aircraft are kept under surveillance by the Chinese military, Senior Colonel Zhang Chunhui, spokesperson of PLA Eastern Theater Command said on Wednesday while responding to the transit of US guided-missile cruiser USS Chancellorsville through the Taiwan Straits.
Pentagon chief tries to keep Asia in focus with second trip - AP
Esper was flying to South Korea on Wednesday for consultations on jointly defending against North Korea, whose nuclear arsenal remains a key focus for Pentagon war planners. His weeklong trip is expected to include a meeting in Bangkok with China’s defense minister, Gen. Wei Fenghe — their first direct contact other than a Nov. 5 video phone call...
With China’s disputed territorial claims in the South China Sea in mind, Esper also will visit Vietnam, a former U.S. enemy, as well as the Philippines, a longtime ally. The Vietnamese, who contest some of China’s claims in the South China Sea, have increasingly looked to Washington as a security partner, despite political differences.
Kevin Rudd: U.S.-China decoupling could be disastrous "self-fulfilling prophecy" - Axios
[W]hereas the Trump administration may indeed be genuine when it says it doesn’t want to embark on economic decoupling with China, it may well be Xi Jinping’s administration that initiates and accelerates the process in the name of national self-reliance."
The full speech is here
4. Plague cases in Beijing
Two Persons Diagnosed With Pneumonic Plague in Beijing - Caixin
Chaoyang Hospital, where the two patients were treated, has replaced all the chairs at its emergency room, Caixin reporters witnessed.
The emergency room was in police blockade Monday night, people living nearby the hospital told Caixin. A resident medical school student at Chaoyang Hospital told Caixin that he received emergency notice from the school, asking them not to go to the emergency room in the following weeks.
Chaoyang Hospital told local media that the two patients have been transferred to another hospital, without disclosing the name of the hospital.
Plague unlikely to spread in Beijing, say authorities - China Daily
There is an extremely low risk for the spread of plague in Beijing after two cases were confirmed, the Chinese Center for Disease Control and Prevention announced Wednesday...
The center said residents don't need to take special protective measures, and suggested people wash their hands regularly and avoid going to crowded places.
Plague Is Diagnosed in China, Prompting Fears of an Outbreak - The New York Times
Beijing officials said the two infected people came from Inner Mongolia, a sparsely populated region of northern China. They sought treatment on Tuesday in a hospital in Beijing’s Chaoyang District, where they were diagnosed with pneumonic plague, according to the government office of the district...
On Tuesday, Chinese censors instructed online news aggregators in China to “block and control” online discussion related to news about the plague, according to a directive seen by The New York Times.
Skeptical Chinese internet users have charged the government with being slow to disclose news about the disease
5. Coal resurgence?
Is coal power winning the US-China trade war? | China Dialogue
China has signalled that coal power will be a top priority within national energy policy as the government prepares its next Five Year Plan (2021-25).
On 11 October, Premier Li Keqiang chaired a meeting of the National Energy Commission in Beijing that emphasised China’s energy security and coal utilisation and downplayed the importance of a rapid transition away from fossil fuels.
Each meeting of the commission, which was established in 2010 and has met only four times, has had a significant impact on policymaking. Chaired by Premier Li and attended by more than 20 chiefs of China’s ministries and bureaus, the commission is the top body for coordinating energy policy...
Li also downplayed China’s low-carbon energy transition. At the same meeting in 2016, Li called on China to: “increase the proportion of renewables in the energy mix” and “accelerate” such a transition. This year, there was no mention of renewable energy’s share of the energy mix and “acceleration” was replaced by the blander term “development”. The change of tone was hard to miss.
China Sets Regional Air Quality Targets for Peak Pollution Season - Caixin
The Yangtze River Delta includes East China cities such as Shanghai, Wuxi, and Hangzhou, and the Fenwei Plain encompasses an area of about 150,000 square kilometers (58,000 square miles) across the northern provinces of Shanxi, Shaanxi and Henan. The two areas have gotten off easy this year compared with pollution reduction targets for a 28-city region of northern China that includes Beijing, Tianjin, Hebei province and surrounding areas. That region must decrease its average PM2.5 concentration by 4% this autumn and winter season.
6. TikTok
TikTok Revamps Lobbying as Washington Targets Chinese Ownership - Bloomberg
The company, which registered its first lobbyist in June, is seeking to add a U.S. policy chief, plans to further expand its internal policy staff and is reshuffling outside lobbyists, according to people familiar with its plans...
TikTok, which is owned by Beijing-based ByteDance Inc., also has hired Monument Advocacy, a public affairs and lobbying firm known for its expertise in technology policy, according to another person familiar with the matter. The person said TikTok is winding down its relationship with lobbyists at the law firm Covington & Burling LLP, which has close ties to Facebook...
The lobbying push is part of TikTok’s effort to calm U.S. regulators and policy makers and try to persuade them that it’s really a U.S. company, said one of the people.
The top Democrat in the US Senate, Chuck Schumer, on Tuesday released a letter he wrote to Army Secretary Ryan McCarthy raising concerns about the US military’s use of the China-owned TikTok social media platform for recruiting American teenagers.
“While I recognise that the Army must adapt its recruiting techniques in order to attract young Americans to serve, I urge you to assess the potential national security risks posed by China-owned technology companies before choosing to utilise certain platforms,” Schumer wrote in the letter dated November 7.
Bytedance’s News App Disciplined for ‘Slandering’ Communist Hero - Caixin Global
The Beijing office of the Cyberspace Administration of China, one of the country’s internet regulators, has ordered the firm to “rectify” its platform after finding results that “slandered” Fang Zhimin, a 20th century revolutionary and military figure, according to a post (link in Chinese) on the body’s official WeChat account.
It ordered the company to scrub the information and punish those responsible. Jinri Toutiao must improve its search functions, and “prevent the dissemination of information that distorts, defames, blasphemes and contradicts the achievements and spirit of heroes and martyrs,” read the statement, which cited unnamed individuals at the company as saying they would comply with the order.
7. Karma comes for Hikvision?
China Probes Hikvision Billionaire Over Alleged Misconduct - Bloomberg
China’s securities regulator is probing two senior executives at Hangzhou Hikvision Digital Technology Co. Ltd. for alleged disclosure violations, dealing another blow to the surveillance giant that’s blacklisted by Washington.
The Chinese seller of video cameras announced the investigation by the China Securities Regulatory Commission into two of its board members -- billionaire Gong Hongjia and fellow director Hu Yangzhong -- in a filing to the Shenzhen exchange on Wednesday, adding that the pair are cooperating with authorities.
海康威视：两名董事涉嫌信息披露违法违规被立案调查 _ 东方财富网
Fortunately for Hikvision, though, influence in Washington is for sale. They had a powerful ally on speed dial — former U.S. senator from Louisiana David Vitter, a Republican who now is a registered representative for Hikvision USA as part of his work at Mercury Public Affairs, a political strategy and consulting firm.
Comment: Vitter and Mercury should have gotten their fees paid upfront and in advance...
Hikvision Markets Uyghur Ethnicity Analytics, Now Covers Up - IPVM
Capable of analysis on target personnel's sex (male, female), ethnicity (such as Uyghurs, Han) and color of skin (such as white, yellow, or black), whether the target person wears glasses, masks, caps, or whether he has beard, with an accuracy rate of no less than 90%. [emphasis added]...
Hikvision declined to comment to IPVM about marketing a camera with Uyghur analytics. Hikvision deleted the camera's webpage soon after we inquired about this issue last Friday; IPVM also asked Hikvision why they did this, but we have received no response.
8. Huawei
National security agencies have conducted a cybersecurity review to weigh whether or not Huawei’s 5G technology could pose a security risk to Canada. This review also examines the economic costs to consumers and Canada’s major telecom carriers of restricting 5G equipment suppliers.
The official, who The Globe is not identifying because they are not authorized to discuss the subject publicly, said the Canadian Security Intelligence Service and the Communications Security Establishment disagree on what to do about Huawei.
The spy service wants to bar the company from 5G networks, while CSE, the country’s electronic surveillance agency, says robust testing and monitoring of Huawei’s 5G equipment could mitigate potential security risks, the official said...
A Canadian cabinet decision on Huawei is unlikely until 2020, the official told The Globe and Mail, citing increasingly strained relations with China as well as the difference of opinion between the intelligence services.
Huawei Hands Out Billions in Bonuses for Staff Response to Sanctions - Caixin
the company is earmarking 2 billion yuan ($285 million) for employees who helped with “business continuity,” according to the people.
The memo did not detail how the 2 billion yuan would be distributed and to whom, but one longtime Huawei employee told Caixin that those involved with “business continuity” most likely include workers in telecom equipment, smart devices, and several other product departments, totaling 50,000 to 90,000 employees.
Business, Economy and Trade
Top Bank Regulators Move to Defuse Jitters After Two Bank Runs - Caixin In a briefing Tuesday, three senior officials of the China Banking and Insurance Regulatory Commission (CBIRC) pledged to contain liquidity risks among the country’s thousands of smaller banks. They addressed incidents involving Yingkou Coastal Bank in northeastern Liaoning province last week and Yichuan Rural Bank in Luoyang, Henan province, in late October...The regulators attributed the runs to false online rumors and sought to restore confidence in the lenders.
Yicai Global - Xiaomi Joins Xpeng Motors' USD400 Million Fundraiser The C round also attracted more funds from existing investors, including founder and Chairman He Xiaopeng, the Guangzhou-based firm said in a statement today. It did not disclose the identities of the other participants or the size of their contributions.
China lowers capital ratio requirement for some infrastructure projects - Reuters The mininum capital investment ratio for ports and shipping infrastructure projects will be lowered to 20% from 25%, while that for highways, railways, environmental protection and social services infrastructure projects can be decided on a case-to-case basis, with the decrease capped at 5%.
Refine govt policies to better tackle challenges, premier says - People's Daily Online While presiding over a symposium to garner experts' and business leaders' advice on the economy's performance, Li said it is important to refine fiscal, monetary, employment and regional development policies and to come up with regulations as needed. He added that the coordination of policies and their transmission and implementation must be further improved.
Exclusive: Chinese Online Car Loan Platform Raided by Police - Caixin Police raided a Chinese online car financing platform that just filed for an initial public offering (IPO) in the U.S. The raid took place at the office of Huachang Finance Lease (China) Co. Ltd., the operator of used car installment loan platform mlcjr.com, at Beijing Greenland Center Monday evening, according to a Caixin reporter at the site who witnessed the incident.
China's pork prices slump on higher supply, falling consumption - Reuters China’s pork prices fell sharply last week for the first time in 10 months, as reports of fresh disease outbreaks in the northeast led to more hogs being sent for slaughter just as consumers cut back on pricey meat, analysts said.
Yicai Global - China's Inner Mongolia to Hunt Down Crypto Miners Posing as Legit Big Data Firms By dodging supervision and posing as part of the Big Data sector such companies take advantage of a number of preferential policies in regard to electricity charges, land rates and taxation, the regional department of industry and information technology said on its website on Nov. 11.
Yicai Global - PBOC Cans Rumors It Launched Eagerly Awaited Digital Currency China's central bank has not launched its own much-anticipated digital currency and electronic payment system nor has it authorized any asset trading platform to deal in the cryptocurrency, it said on its website today in response to rumors that the e-money was already in circulation.
China Moves Away From Hard Lending Targets at Biggest Banks - Bloomberg Calling for a more calibrated approach to funding its small businesses, Chinese regulators on Tuesday revealed that its big five state-owned banks, including Industrial & Commercial Bank of China Ltd., have increased lending to small business by 48% in the first nine months of the year, beating a 30% target set earlier in 2019.
Regulatory easing to bolster asset quality - China Daily The China Securities Regulatory Commission announced on Friday a number of draft revisions on the refinancing rules for companies listed on the main boards in Shanghai and Shenzhen as well as the startup board ChiNext and the science and technology innovation board, which is also known as the STAR Market. The CSRC lowered the minimum price requirement for listed companies to sell shares through private placement and shortened the lockup period, making their share sales more attractive to investors. The regulator also scrapped the requirement of being profitable for two consecutive years and having a debt-to-asset ratio higher than 45 percent for ChiNext-listed companies to sell shares to the public.
China Turning Into One of Germany Inc.’s Biggest Headaches - Bloomberg A survey of more than 500 companies with operations in China showed only a quarter expect to meet or exceed their business targets this year, according to the German Chamber of Commerce in China. More than 80% are experiencing either direct or indirect repercussions from ongoing trade tensions between China and the U.S., on top of longer-standing issues such as rising labor costs and barriers to market access.
Sales of Chinese-Made Excavators Hit Record Even as Economic Growth Slows - Caixin From January to October, 25 manufacturers in China sold 196,222 of the dirt-moving machines, which are essential for large construction projects, according to data released Friday by the China Construction Machinery Association (CCMA), an industry group. It was an increase of 14.4% year-on-year, although well below 52.5% growth for the same period in 2018. About 89% of the excavators, or 174,680, were sold in the domestic market.
China reforms regional GDP accounting to boost data quality - Xinhua The NBS will lead the unified accounting of regional GDP after the reform. It will organize local statistics offices to map methods of accounting, map and standardize the unified procedures in accounting, conduct unified accounting and release the results. The reform is an inevitable requirement for improving the quality of statistical data and the credibility of government statistics, said Ning Jizhe, head of the NBS.
China Lets Its Cannabis Industry Bloom but Says No to Marijuana - WSJ Already CBD prices have plunged since HMI entered the space in 2013, when 1 kilogram of CBD sold for about $50,000 in the U.S. market, he said. Last year, prices averaged $6,000, a direct result of farmers growing more hemp. Mr. Tan predicts that next year they will fall below $1,000. Nonetheless, Mr. Tan said his company can turn a profit as long as prices stay above $300, thanks to China’s advantage in cheap labor and processing costs.
Hilhouse Capital Group Lead Series A in Kenyan Logistics Startup Lori Systems- PingWest Founded in 2016, Lori Systems is a logistics coordination platform that connects cargo owners to transportation, providing real-time information that can be leveraged to reduce inefficiencies in the transportation of goods.
In Unusual Move, China Investigates Supermarket Chain Acquisition Over National Security Concerns - Caixin Global It is rare for the NDRC to cite national security concerns in when examining deals between companies in China’s retail sector. Yonghui’s biggest shareholder is Dairy Farm, a subsidiary of British conglomerate Jardine Matheson that holds a 20% stake in the company. All Yonghui’s other known shareholders are Chinese entities, including internet giants Tencent and JD.com.
Embattled Entrepreneur Jia Yueting Postpones Bankruptcy Proceedings Entrepreneur and blacklisted debtor Jia Yueting has delayed his bankruptcy proceedings, amid insufficient creditor support for his reorganization plan. Jia, former CEO of U.S.-based electric-car startup Faraday Future, filed for Chapter 11 bankruptcy last month in the U.S.
New Satellite City Near Beijing Holds First Land Auction - Caixin Xiongan New Area has held the first auction of local land since its establishment in April 2017, marking a major new step in its development as an alternative urban center to congested Beijing.
Politics and Law
Uighur activists say China running hundreds more camps | News | Al Jazeera The East Turkistan National Awakening Movement, a Washington-based group that seeks independence for the mostly Muslim region known to China as Xinjiang, said on Tuesday it assessed images from Google Earth and found 182 suspected "concentration camps" that it listed by coordinates.
张首映：党报评论应是“有思想力的评论”---人民网 11月12日，由人民日报社主办、人民日报社评论部、解放日报社承办的第四届党报评论融合发展论坛在上海举行。围绕“让评论与时代共生长”这一主题，来自中央媒体、全国各省级党报、相关新媒体平台的代表共聚一堂，分享经验、激荡智慧、共谋良策 // Leading Party and PLA papers hold 4th symposium on Party paper commentary works
Senior CPC official stresses guiding principles from key Party meeting - Xinhua Senior Communist Party of China (CPC) official You Quan stressed efforts to study and put into action the guiding principles from the fourth plenary session of the 19th CPC Central Committee. You, a member of the Secretariat of the CPC Central Committee and head of the United Front Work Department of the CPC Central Committee, made the remarks during his investigation and research trip in east China's Jiangxi Province from Monday to Wednesday.
杨浩东：开创临沧“十四五”跨越发展新局面--云南频道--人民网 “总书记是最大的担当者，我们要学习总书记、遵从总书记、爱戴总书记。”杨浩东强调，学习总书记，就是要学习习近平新时代中国特色社会主义思想，学习总书记的初心和使命。遵从总书记，就是要做到总书记怎么说，我们就怎么做；总书记说什么，我们就做什么；总书记指向哪里，我们就打向哪里，坚决按总书记的要求办。爱戴总书记，人民领袖爱人民，人民领袖人民爱。要把爱戴总书记化为坚定信念和自觉行动。
青岛捣毁“全能神”特大邪教团伙，信徒被洗脑抛家弃子、变卖房产_凤凰网资讯_凤凰网 Qingdao police say they cracked down on dozen of "Eastern Lightning" cult followers
Wilson Center Digital Archive - Marginal Note By Mao Zedong On a Tibet 'Situation Report' February 18, 1959 Liu [Shaoqi], Zhou [Enlai], Chen Yi, [Deng] Xiaoping. After reading return to Comrade Peng Dehuai: The more chaotic [luan] Tibet gets, the better. We can train troops and toughen the masses. Furthermore, this furnishes sufficient reason for future pacification and reform // 在西藏武装叛乱情况简报上的批语[1] 〈一九五九年二月十八日〉 刘、周、陈毅、小平[2]阅后，退彭德怀[3]同志：西藏越乱越好，可以锻炼军队，可以锻炼基本群众，又为将来平叛和实施改革提供充足的理由。
Foreign and Defense Affairs
Economy in mind, Bolsonaro changes tack and cozies up to Xi - AP Gone is last year’s fiery campaign trail rhetoric about China being a rapacious power intent on exploiting Brazilian resources. China is, after all, Brazil’s biggest trading partner.
Czech-Chinese ties hit new bump as university shuts center - Reuters Prague’s Charles University has closed its Czech-Chinese Centre, rector Tomas Zima said on Wednesday, after local media reports that some of its staff had failed to declare payments from the Chinese embassy intended to support its programmes.
China tells Zimbabwe President to resign or retire - Bulawayo24 News President Emmerson Mnangagwa, has allegedly been told by China to either resign or retire from office as Zimbabwe leader, and handover power to Vice President, Rtd General Constantino Chiwenga, or risk facing unspecified political action from Beijing, Spotlight Zimbabwe, has gathered. It was not apparent last night, what course of action the Asian political and economic giant was going to take if Mnangagwa refuses to go, with speculation that VP Chiwenga, who is in China and is expected home before the end of next month to act as president during Mnangagwa's annual Christmas leave, could be coming home to push out Mnangagwa for good, for failing to resolve the country's economic situation and more seriously, for reportedly cunningly overturning former President Robert Mugabe's "Look East Policy", thus placing China's economic interests in Zimbabwe under grave threat.
Sydney deputy mayor went to Communist Party training camp - AFR The deputy mayor of a Sydney council, Simon Zhou, spent eight days at a Communist Party training course in China just weeks before becoming a Labor Senate candidate at the 2016 federal election.
Chinese General meets with Fijian Prime Minister - China Military SUVA, Fiji, Nov. 12 (Chinamil) -- General Li Zuocheng, member of China’s Central Military Commission (CMC) and Chief of the CMC Joint Staff Department, met with Fijian Prime Minister Voreqe Bainimarama in Suva on the afternoon of November 11.
Chinese troops head to Hawaii for joint disaster relief exercise with US military | South China Morning Post Similar exercises have taken place every year since 2013 – last year’s was held in the eastern Chinese city of Nanjing – and their continuation represents a rare example of efforts to build bridges between the two sides
US senators propose economic security strategy act to counter China’s rise | South China Morning Post The bill was introduced by Republican senators Marco Rubio and Todd Young, and Democratic senators Jeff Merkley and Chris Coons, according to a statement on Rubio’s website on Tuesday. While the bill is meant to promote “free, fair and reciprocal economic relationships” with all US economic partners, the senators focused on the threat of China.
Remarks by H. E. Wang Qishan Vice President of the People's Republic of China At the Second Paris Peace Forum China is a responsible major country. We are ready to work with all other countries to foster a community with a shared future for mankind, and build an open, inclusive, clean and beautiful world that enjoys lasting peace, universal security and common prosperity. China advocates the principle of extensive consultation, joint contribution and shared benefits in global governance. We champion a new type of international relations based on mutual respect, fairness, justice and win-win cooperation. We uphold the international system with the UN at its core. We call for the building of an open world economy based on innovation and inclusiveness. And we stand committed to taking part in international cooperation on climate change based on principles such as common but differentiated responsibilities. Through concrete actions, such as promoting Belt and Road cooperation, hosting the China International Import Expo, reducing the items on the negative list for foreign investment and improving the business environment, China is sharing with the world the vast opportunities of its development.
Xi Jinping offers to help Greece retrieve contested Parthenon Marbles - CNN Style Xi then pledged his support when Pavlopoulos asked the Chinese president for help in the "battle for the return of the Parthenon Marbles." "Not only will you have my support, we should work together," Xi said. "Because we have a lot of our own relics abroad, and we are trying as much as we can so that we can to bring these items back to their home country as soon as possible."
Dreams and Infrastructure – Common Destiny, the first Belt and Road movie – Panda Paw Dragon Claw Common Destiny, a movie-documentary about the modern Silk Road, tells the story of lives transformed by dreams realised through persistence and the enabling power of infrastructure development. In many ways the movie presents the narrative of China’s materialist theory of development, led by and underpinned by infrastructure, a contrast to Western countries’ current focus on development aid.
Reward Chinese soldiers in cryptocurrency, military mouthpiece says | South China Morning Post Applying the technology to managing the People’s Liberation Army (PLA) would drive innovation, the military mouthpiece PLA Daily said on Tuesday. The article suggested establishing a digital currency token reward system for staff performance assessments based on criteria such as training, speciality skills, task completion and others.
Chinese National Pleads Guilty to Committing Theft of Trade Secrets | Department of Justice Hongjin Tan, a 35 year old Chinese national and U.S. legal permanent resident, pleaded guilty Tuesday in federal court to committing theft of trade secrets from his employer, a U.S. petroleum company. Tan pleaded guilty to theft of a trade secret, unauthorized transmission of a trade secret, and unauthorized possession of a trade secret. The defendant stole the information from a U.S.-based petroleum company regarding the manufacture of a “research and development downstream energy market product” that is worth more than $1 billion.
Commentary: BRICS summit to usher in new "golden decade" for cooperation - Xinhua Currently, unilateralism and trade protectionism are rearing their ugly heads around the globe, and the world is undergoing profound changes unseen in a century. Just as Chinese President Xi Jinping has pointed out, the international community is facing "four deficits" in global affairs, namely governance deficit, trust deficit, peace deficit and development deficit. As a result, global free trade is losing steam, the prospects for economic growth have been dampened, and the international community is grappling with a huge amount of uncertainty.
Chinese president arrives in Brazil for BRICS summit - Xinhua In Brasilia, Xi is also scheduled to attend the closing ceremony of the BRICS business forum and the BRICS leaders' dialogue with the BRICS Business Council and the New Development Bank. Xi will also hold talks with his Brazilian counterpart, Jair Bolsonaro, and meet with leaders of other participating countries to exchange views on bilateral ties and on cooperation within the BRICS framework.
China sends five satellites into orbit via single rocket - Xinhua The satellites are part of a commercial satellite project invested by the Ningxia Jingui Information Technology Co., Ltd. and will be mainly used for remote sensing detection. The satellites and carrier rocket were developed by the DFH Satellite Co., Ltd. and the Shanghai Academy of Spaceflight Technology.
Nepal protesters burn Xi Jinping’s effigy in protest against Chinese encroachment - world news - Hindustan Times The protestors hit the streets of Saptari, Bardiya, Kapilvastu district on Monday and chanted slogans against China. The protestors held play-cards, banners and chanted slogans such as “Go back China and Return Nepali land” during the protests. The protest comes after a survey report recently released by the Survey Department stated that China has encroached upon 36 hectare land of Nepal.
Taiwan
James Soong joins presidential race - Taipei Times People First Party (PFP) Chairman James Soong (宋楚瑜) yesterday announced that he would run in the Jan. 11 presidential election with former United Communications Group chairwoman Sandra Yu (余湘) as his running mate.
Missing Taiwanese professor Shih Cheng-ping detained in mainland China over ‘threat to national security' | South China Morning Post Shih Cheng-ping, 56, is the third Taiwanese man whose detention has been confirmed in recent months...Ma Xiaoguang, a spokesman for the Taiwan Affairs Office, told a press conference in Beijing on Wednesday that all three were being investigating for “activities endangering national security”
Tech and Media
Tencent Earnings Drop 13% as Rivals Intrude on Advertising Territory - WSJ $$ The world’s largest videogame company by revenue, which also operates social-networking app WeChat, reported a 13% drop in third-quarter profit from a year earlier, to 20.4 billion yuan ($2.9 billion)—short of the consensus forecast of 24.4 billion yuan by analysts polled by FactSet. Revenue climbed 21% to 97.2 billion yuan, just missing analysts’ forecast of 97.9 billion yuan.
Millions in China Tapped 'Voice Shopping' During 11.11 | Alizila.com More than 1 million orders were placed and paid via Tmall Genie’s voice-shopping feature during Alibaba Group’s 11.11 Global Shopping Festival, the world’s largest one-day sale.
Mobile Users in China Will No Longer Be Held Back by Their Phone Numbers Mobile users in China will no longer have to change phone numbers when they switch carriers under a new nationwide policy set to take effect Dec. 1 that was almost a decade in the making.
Yicai Global - Chinese Blockbuster Ne Zha Lands Director, Producers in Plagiarism Lawsuit Plaintiff China Film Huateng Movie and Television Culture claims that Ne Zha, scripted and directed by Yang Yu and co-produced by six companies, including Beijing Enlight Pictures, is very similar to its stage musical Memory. The Beijing-based firm seeks CNY50 million (USD7.1 million) in compensation from the defendants, including Yang and Beijing Enlight Pictures, and demands that they bear a reasonable cost of CNY1 million. The Beijing Intellectual Property Court took the case yesterday.
Society, Arts, Sports, Culture and History
Chinese Anti-Bullying Movie “Better Days” Becomes Hit at Box Office and on Social Media | What's on Weibo The Chinese movie Better Days (少年的你) is a hit; not just in Chinese cinemas, but also on social media, where campus bullying – one of the film’s main themes – is a recurring topic of debate.
Rare bronze horse head returned to Yuanmingyuan - ECNS A rare bronze horse head plundered from Beijing's Old Summer Palace was officially handed over to the State Administration of Cultural Heritage at a ceremony held at the National Museum of China in Beijing on Wednesday. Liu Yuzhu, director of the State Administration of Cultural Heritage, granted a certificate of honor to Pansy Catalina Ho Chiu-king, who was present at the ceremony on behalf of her father Stanley Ho
54 injured after man sprays corrosive liquid in kindergarten - Xinhua Fifty-one children and three teachers were injured after a man sprayed a corrosive chemical in a kindergarten in southwest China's Yunnan Province, local authorities said Tuesday. The incident happened in the city of Kaiyuan on Monday afternoon, when a suspect climbed into a kindergarten and sprayed caustic soda, according to the government of Kaiyuan
Energy, Environment, Science and Health
How Do You FedEx a Panda to China? We Talked to the People Overseeing the Trip | Washingtonian (DC) The temperature will be a cool 65 degrees, just the way Bei Bei likes it. He’ll have complimentary snacks, including around 25 kilos of bamboo and treats like apples and honey, along with plenty of water. He’ll even have a window seat: his three-by-four-foot enclosure has plexiglass panels that will let Bei Bei see what’s going on around him. Though he’s still at the zoo, he’s already spent time in the enclosure, so he’ll be used to it by takeoff.
Yicai Global - New Natural Gas Capacity Should Help China Meet Winter Demand, NDRC Says The nation's natural gas output will be more than 170 billion cubic meters this year, an increase of 11 billion on last year, Xinhua News Agency reported, citing an anonymous official from the National Development and Reform Commission. The China-Russia east route gas pipeline is also due to open at the beginning of next month, the person said, adding that China has also increased its gas storage capacity to nearly 20 billion cubic meters in time for winter.
Rural and Agricultural Issues
China launches int'l agricultural science program - Xinhua The Chinese Academy of Agricultural Sciences (CAAS) Wednesday launched an international agricultural science program to strengthen cooperation between CAAS and its global partners in developing cutting-edge agricultural science and technology.
Hi Bill, on the Hong Kong matter, it seems to me the old wisdom to first let a problem rise to full bloom, before eradicating it completely. On the other hand one could argue, that we are long past the full bloom. I totally agree that whatever conclusion of the Hong Kong problem, Han Zheng will have to take the full blame.