Yi Gang dampens hopes for stimulus; People’s Leader Xi; China-Russia gas; PRC Diplomats taking their case to Twitter
| Dec 2 | 17 | 1 |
Hi everyone, lots of commentary in the essential eight items below.
It is that time of year, if you are looking for the perfect for the China person in your life please consider giving them a year of Sinocism.
Thanks.
1. Yi Gang dampens hopes for stimulus
And do not expect any new policy moves before for the Central Economic Conference later in December, and even then expect more battening down the hatches and struggling and grinding through economic issues rather than a big set of stimulus measures
China will maintain currency stability, prudent monetary policy: PBC - Global Times
China won't use the yuan's exchange rate as an instrument, and it will refrain from a beggar-thy-neighbor policy and strengthen efforts to advance reform of a market-based mechanism of the yuan exchange rate, said Yi Gang, governor of the People's Bank of China (PBC) on Sunday.
Yi published an article in Qiushi Journal on Sunday, titled "Stick to the Goal of Currency Stability and Implement a Prudent Monetary Policy", saying the yuan's exchange rate is determined by market supply and demand, and China should refrain from quantitative easing even if the monetary policies of major economies are heading toward zero interest rates...
Yi also mentioned that monetary policy will serve the real economy and high-quality development of China's economic growth. China should respect the laws of the economy, and GDP is not the only indicator of economic growth, Yi wrote in the journal.
Yi Gang's article - 易纲：坚守币值稳定目标 实施稳健货币政
China Will Not Resort to Quantitative Easing-PBOC Governor - Reuters
"We should not let the money held by the Chinese people become worthless... Maintaining positive interest rates and upward-inclined yield curve is generally conducive to the economic entities, and in line with the Chinese people's saving culture, thus beneficial to the sustainable development of the economy," said Yi.
He reiterated the central bank will continue to implement prudent monetary policy, conduct counter-cyclical adjustments, improve monetary policy transmission and keep liquidity reasonably ample.
Manufacturing Activity Expands at Fastest Pace in Almost Three Years: Caixin Survey - Caixin Global
The rate at which China’s manufacturing activity is growing rose to its highest point in nearly three years in November, driven by rising stocks of purchased items and stronger job creation, a Caixin-sponsored survey showed Monday.
The Caixin China General Manufacturing Purchasing Managers’ Index (PMI), which gives an independent snapshot of the manufacturing sector’s operating conditions, rose further to 51.8 in November from 51.7 in the previous month. Though the rate was only marginally higher, it marks the strongest expansion since December 2016.
China's factory activity surprises with fastest expansion in three years: Caixin PMI - Reuters
China’s official factory activity gauge on Saturday also surprised, returning to growth for the first time in seven months as domestic demand picked up in response to stimulus measures. But gains were slight and export orders sluggish.
The official survey focuses more on heavy industry than Caixin’s, which is believed to include firms that are more export oriented. The two surveys also cover different geographical areas.
促六稳加力 部委密集调研把脉经济 _ 经济参考网 _ 新华社《经济参考报》官方网站
Xinhua's Economic Information Daily reports that the NDRC has been meeting with local governments to gauge the economic situations and plan for next year's work, says policy focus for next year likely to still be improving the business environment, reducing burdens for the real economy. 近一个月来，中央及地方密集摸底经济形势。11月中旬，国务院层面多次召开经济形势座谈会。记者了解到，国家发展改革委以及地方政府部门也已开始密集调研摸底当前的经济形势，研判明年的经济环境。专家分析，在当前力促“六稳”信号不断增强的背景下，优化营商环境为实体经济减负、激发企业活力，仍是重要着力点和加力点，有望延续成为下一步乃至明年的经济政策重点。
Comment: Part of the preparations for the Central Economic Work Conference that should be held in the next 2-3 weeks and will set the policies for 2020
2. Politburo meeting and another Xi speech
The Politburo meeting last Friday deliberated CCP regulations on grassroots organization work in Party and State institutions and pilot CCP regulations on grassroots organization work in SOEs. Party Construction is of course the focus, with the goal of even tighter Party control
习近平主持召开中共中央政治局会议-中共中央网络安全和信息化委员会办公室
会议指出，研究制定《中国共产党国有企业基层组织工作条例(试行)》，是深入贯彻习近平新时代中国特色社会主义思想、贯彻落实新时代党的建设总要求和新时代党的组织路线、坚持和加强党对国有企业的全面领导、提高国有企业党的建设质量的重要举措，对于完善中国特色现代企业制度，增强国有经济竞争力、创新力、控制力、影响力、抗风险能力，做强做优做大国有资本，具有十分重要的意义。
中共中央政治局召开会议 审议《中国共产党党和国家机关基层组织工作条例》和《中国共产党国有企业基层组织工作条例（试行）》 中共中央总书记习近平主持会议_CCTV
Friday CCTV Evening News report on the Politburo Meeting
"To improve the modern enterprise system with Chinese characteristics, enhance the competitiveness, innovation, control, influence, and anti-risk ability of the state-owned economy It is of great significance to optimize and enlarge state-owned capital."
"The meeting emphasized that state-owned enterprises are an important material and political foundation of socialism with Chinese characteristics, and an important pillar and relying force for the party to govern and rejuvenate the country. It is necessary to earnestly strengthen the party's overall leadership of state-owned enterprises, ensure the leading position of party organizations in state-owned enterprises from the perspective of organization, system, and mechanism, and give full play to the leading role of party committees (party groups) in managing the overall situation and ensuring implementation. We must adhere to the direction of reforming the modern enterprise system with Chinese characteristics, unify the strengthening of party leadership and improve corporate governance, integrate party leadership into all aspects of corporate governance, embed corporate party organizations into the corporate governance structure, and clarify and implement party organizations. The legal status in the corporate governance structure of a company ensures that the leading role of the party committee (party group) of a state-owned enterprise is organized, institutionalized, and concrete."
The article is from a speech Xi gave in September at Politburo study session - Xi's article on socialist state, legal systems with Chinese characteristics to be published | Xinhua
The entire Party should foster stronger confidence in the path, theory, system, and culture of socialism with Chinese characteristics, and continue forging ahead along the right path, the article read.
The article pointed out that the socialist state and legal systems with Chinese characteristics have been formed through long-term practices and explorations.
The new type of state system founded by the CPC has enabled China to create a miracle of rapid economic growth and long-term social stability, and offered a new option for developing countries to realize modernization, it read.
The article 坚持、完善和发展中国特色社会主义国家制度与法律制度
来源：《求是》
3. People’s Leader Xi
"The People's Leader - Strive to realize the Chinese dream". This was the top item on the CCTV app over the weekend. It feels like something is up. - 人民领袖丨奋斗共圆中国梦_央视新闻客户端_央视网(cctv.com)
This new “political news center” also seems noteworthy, and especially the statement that “we should strive to create high-quality reports on current affairs that are worthy of the lofty image of the people's leader”.- 中央广播电视总台时政新闻中心成立--广东频道--人民网
The central radio and television headquarters held the inaugural meeting of the political news center. Shen Haixiong, deputy minister of the publicity department of the CPC central committee [and whom I hear may soon be leaving his post for a promotion], secretary of the party leadership group of the central radio and television headquarters, attended the inaugural meeting and delivered a speech.
时政新闻中心整合原中央三台时政报道力量，是总台新闻报道的第一梯队，是总台融合传播的第一抓手，是确保习近平新时代中国特色社会主义思想和领袖风采春风化雨、润物无声、“飞入寻常百姓家”的第一窗口，是坚持以领袖的高度就是宣传报道追求的高度为标准的第一阵地.
[Sorry this machine translation is very rough, but this line “坚持以领袖的高度就是宣传报道追求的高度为标准的第一阵地” is very interesting] The News Center integrates the former three central government's current affairs reporting power. It is the first echelon of the news report of the main station, and the first master of the integrated communication of the main station. The first window of silent, "flying into the home of ordinary people" is the first position that insists that the height of the leader is the height of the pursuit of propaganda reports ..
用专业能力讲政治，追求最高标准，建设“时政质量”。时政新闻中心要以传播效果为导向，用专业方式讲政治，用专业水准引领新闻舆论。要以努力创作出与人民领袖崇高形象相匹配、无愧于伟大时代和历史、无愧于祖国和人民的时政报道精品为目标，注重新闻性、艺术性、思想性，推进全平台、全样态、全手段、全媒体传播。要追求高质量发展，以精益求精、一丝不苟的专业精神，为时代立传，为国家留史。要充分尊重电视传播规律，用生动鲜活的电视语言讲好新时代中国领导人的故事，提升领袖报道的传播力、感染力
Professional ability to speak politics, the pursuit of the highest standards, the construction of "political quality". The current politics news center should take the dissemination effect as the orientation, speak politics with the professional way, lead the news public opinion with the professional level. We should strive to create high-quality reports on current affairs that are worthy of the lofty image of the people's leader, worthy of the great times and history, and worthy of the motherland and the people. We need to pursue high-quality development, build biographies for The Times and make history for the country with the professional spirit of keeping improving and meticulous. We should fully respect the law of television communication, tell the stories of Chinese leaders in the new era in vivid and vivid language, and enhance the power and appeal of leaders' reports
4. US-China
China urges rollback of US tariffs, Huawei exec’s release - AP
The Communist Party newspaper Global Times on Monday ran several articles and commentaries insisting there would be no agreement unless the U.S. commits to rolling back some tariffs the Trump administration has imposed on imports from China to pressure Beijing into altering its policies on trade and technology.
“Rolling back tariffs is a must. The China-U.S. trade war (was) instigated by the U.S. with tariffs, so the tariffs have to be cut first,” the newspaper quoted Wei Jianguo, a former Chinese commerce minister as saying.
China Protests U.S. Law Supporting Hong Kong but Signals Hope for Trade Deal - WSJ
Chinese officials involved in economic policy-making stressed that the trade negotiations are still on track and as long as the U.S. president doesn’t implement any of the law’s measures, Beijing still has strong incentives to move ahead with the trade deal, which could help alleviate pressure on the country’s fast-weakening economy.
The officials seized on a sentence in Mr. Trump’s signing statement that emphasized his “constitutional authorities with respect to foreign relations.” For Beijing, that is a clear signal the U.S. leader has given himself plenty of wiggle room to back off.
Axios Sneak Peek - December 1, 2019 - Axios
A source close to Trump's negotiating team told me the China deal was now "stalled because of Hong Kong legislation" and that time is needed "to allow Xi's domestic politics to calm." The "Phase One" deal with China would probably happen "year-end at the earliest," and Trump is expected to hold off on his planned December tariffs to keep the deal alive.
US won't hold back on tariffs if Chinese drag their feet: Wilbur Ross | Fox Business
Ross said that raising tariffs on Dec 15. won't "interfere with this year’s Christmas" as retailers have already stocked up, adding that it’s a "really good time if we have to put more tariffs on.”
China sanctions US over HK - Global Times
Chinese experts said that some US diplomats at the US Consulate General in Hong Kong and Macao who have connections with the targeted NGOs could be expelled as these organizations' activities in Hong Kong could be deemed illegal in the future...
"NED is a notorious organization that plays a major role in funding color revolutions and training political activists worldwide to create trouble for many non-Western states," said Lü Xiang, a research fellow on US studies at the Chinese Academy of Social Sciences in Beijing.
"The NDI and IRI are two organizations that mainly receive funding from NED, and the NDI follows political line of Democrats, while the IRI follows Republicans. Sanctioning these two NGOs sends the message that the two major parties are being targeted for initiating and passing the Hong Kong act," Diao Daming, a US studies expert at Renmin University of China, told the Global Times on Monday.
China suspends Hong Kong visits by U.S. military ships, aircraft, sanctions U.S. NGOs - Xinhua
The NGOs include the National Endowment for Democracy, National Democratic Institute for International Affairs, International Republican Institute, Human Rights Watch and Freedom House.
A lot of facts and evidence have shown that the aforementioned NGOs supported anti-China rioters in Hong Kong in various ways, abetted their extreme and violent criminal behavior and incited separatist activities for "Hong Kong independence", Hua said, adding that these organizations bear major responsibilities for Hong Kong's chaotic situation and should be sanctioned and pay their price.
China Hits Back at U.S. Over Hong Kong Bill in a Mostly Symbolic Move - The New York Times
Beijing said it would suspend visits to Hong Kong by American warships and impose sanctions on several nongovernmental groups. The measures suggest China is wary of upsetting trade negotiations...
“It’s nothing new,” said Willy Lam, a political expert at the Chinese University of Hong Kong. “I think the major purpose of this is rhetorical: to try to convince the world that the U.S., whether it’s the C.I.A. or the N.G.O.s, is trying to foment a color revolution in Hong Kong.”
天使还是恶魔？中国为什么要制裁这些NGO？看看这个你就明白了 - YouTube
People's Daily English-language Video on the evil NGOs and why China is sanctioning them. It is pretty much straight our of "Silent Contest", the 2013 film by the PLA's National Defense University, The PLA General Staff Department, and CASS, that increasingly looks like the playbook for the Xi Era
Many firms have no contingency plans should U.S.-China trade war worsen: DHL survey - Reuters
Da Wei - Rethinking Think China-US relations at a historical juncture
"Today, is it still necessary for China-US relations to get better? I can't say for sure anymore. In the domestic development strategies of China and the United States today, the need for a cooperative China-US relationship is not as strong as it was 30 years ago. As a result, China and the United States today seem to be growing more tolerant of a poor Sino-US relationship. What I am talking about here is not a matter of necessity, nor whether china-us relations should improve. What I am talking about is a matter of fact: today's time and space have changed, and china-us relations lack the support of domestic strategies, thus losing the truth that "it is better after all". After all, like any set of foreign relations, China-US relations, good or bad, are a means, not an end."
魏加宁：当前最要防止中美脱钩，否则我们的“和平红利”可能消失
Wei Jiazhu, researcher at the State Council Development Research Center says it is crucial to prevent US-China decoupling, otherwise China will lose the "peace dividend"
Instigating violence is doomed to fail - People's Daily
Some U.S. politicians claim that the U.S. "has human rights standards that apply to the world," and consider the Hong Kong-related bill to be "a commitment to democracy, human rights, and the rule of law." In fact, the U.S., which has serious human rights issues itself, is in no position to point fingers at other countries and tell them what to do.
U.S. moves backward on human rights - People's Daily Zhong Sheng
The international human rights cause is not a private property of the U.S., and the country, tarnished by frequent scandals related to human rights, has no right to stand on the high ground and interfere in the internal affairs of other countries under the guise of human rights.
Both the human rights crisis of immigrants along the U.S.-Mexico border and the obstruction of international inspection have suggested that the U.S. is moving backward on human rights. The country has become a major obstacle to the development of international human rights cause.
人民日报评论员：把香港当反华工具是痴心妄想——打“香港牌”不会得逞-新华网
"Using Hong Kong as an anti-china tool is wishful thinking -- playing the "Hong Kong card" will not succeed" - Commentary that will run in the Tuesday People's Daily
"Incitement to riot will be spurned-- human rights abuses will not succeed" Page 1 People's Daily commentary Monday on the US HK law
The propaganda vitriol since Trump signed the law has been quite jarring. The anti-American sentiment the relevant propaganda organs are stirring up is not something that can be changed quickly, so this seems yet another reason to be increasingly pessimistic about the trajectory of US-China relations.
5. Hong Kong
In a post on its Facebook page, the police force said “hundreds of rioters gathered near the Empire Centre, and some of them hurled smoke bombs, stirring up public fear and causing chaos”.
But during a regular press briefing on Monday, Chief Superintendent Kenneth Kwok Ka-chuen of the police public relations branch was more guarded about the existence of the smoke bombs when asked about them at least four times.
“I think the Chinese propaganda machine is doing quite well with what we call the ‘rioters’ in Hong Kong,” said a Chinese academic who spoke on the condition of anonymity to discuss the sensitive situation. “People in Guangzhou, Beijing, Shanghai, people are not sympathetic to Hong Kong.”
In the latest grim assessment for the city, financial secretary Paul Chan told lawmakers that the economy was set to contract 1.3 percent in 2019
An Indonesian domestic worker who covered Hong Kong’s protests as a citizen journalist was deported on Monday following her arrest for overstaying her visa in September.
Supporters of Yuli Riswati, 39, accused the government of sending her home for reporting on the social unrest for the not-for-profit Indonesian online news outlet, Migran Pos, that she had launched in March.
DC Comics Under Fire for Deleting Batman Poster After Chinese Backlash – Variety
DC Comics has yanked a poster for a new Batman title from its social media accounts after the image drew criticism from Chinese commenters who said it appeared to support the ongoing pro-democracy protests in Hong Kong.
Hong Kong’s Retail Sales Suffer Worst Drop on Record, as Protests Persist - WSJ
The value of retail sales fell 24% in October from a year ago, the worst monthly decline on record, according to data released Monday by the Hong Kong Census and Statistics Department. The period included “Golden Week,” a historically popular time for travel for mainland Chinese, who are a key source of tourism in Hong Kong.
Protests Have Turned Hong Kong Disneyland Into a ‘Ghost Town’ - WSJ $$
Weekday visitors to Hong Kong Disneyland have fallen by about 90% since protests began, according to rough estimates from a staff employee. He said tourists from mainland China now make up only an estimated 5% of the weekday crowd, versus at least half prior to the protests.
6. Huawei
Huawei Manages to Make Smartphones Without American Chips - WSJ
Huawei’s latest phone, which it unveiled in September—the Mate 30 with a curved display, telephone and wide-angle cameras that competes with Apple Inc.’s iPhone 11—contained no U.S. parts, according to an analysis by UBS and Fomalhaut Techno Solutions, a Japanese technology lab that took the device apart to inspect its insides...
“When Huawei came out with this high-end phone—and this is its flagship—with no U.S. content, that made a pretty big statement,” said Christopher Rolland, a semiconductor analyst at Susquehanna International Group. He said that in recent meetings, Huawei executives told him that the company was moving away from American parts, but it was still surprising how quickly it happened.
Comment: And one they de-Americanize their IT stack they will never go back. Huawei still has a Google Android problem, and is still very reliant on Taiwan’s TSMC.
U.S. weighs new regulations to further restrict Huawei suppliers - sources - Reuters
under current regulations, key foreign supply chains remain beyond the reach of U.S. authorities, prompting inter-agency discussions within the administration of President Donald Trump about possible changes to two key rules that could expand U.S. authority to block more foreign shipments to the company, giving more teeth to Huawei’s blacklisting, according to two people familiar with the matter.
Europe must put security first with 5G – Politico Europe OpEd by Sec. Pompeo
EU communications ministers will gather in Brussels on Tuesday to discuss how to safeguard emerging fifth-generation (5G) wireless networks. Their decisions could have lasting impacts on European countries’ ability to protect their people’s privacy, and ultimately, safeguard their freedoms.
Huawei under fire in China over employee detained for eight months | Technology | The Guardian
On the social network Weibo, users were posting the numbers “985, 996, 035, 251, 404” a riff on the “996” culture of Chinese technology companies of working 9am to 9pm, six days a week.
In the case of Li, the numbers refer to graduating from one of the country’s 985 top universities, being fired at the age of 35, detained for 251 days, and seeing all related reports censored. The code was trending on Weibo on Monday.
QQ News has a whole section on Huawei's 251 scandal...it may be a national champion in the fight with the US but that doesn't protect it from domestic anger when it behaves badly
Right now, time seems to pass slowly. It is so slow that I have enough time to read a book from cover to cover. I can take the time to discuss minutiae with my colleagues or to carefully complete an oil painting.
Huawei ban: Nick Xenophon goes after Chinese tech giant's critics - Sydney Morning Herald
Huawei Australia's new external lawyer, former independent senator Nick Xenophon, has launched an aggressive defence of the company, saying the telecommunications giant was being "destroyed" by "false and totally unsubstantiated claims".
Yicai Global - [Exclusive] Huawei's EU Cyber Security Hub Aims to Assure on No Product Backdoors
"Huawei has been one step ahead of its rivals in enabling external access to its source code," the official said. "If necessary, we will do everything we can to build trust, as long as the rules also apply to our competitors."
In June, Huawei’s global cybersecurity and privacy officer, John Suffolk, said the company does not directly do business with security services in Xinjiang, saying it works only with third-party contractors. “We stay in the commercial space,” he said.
But considerable evidence suggests otherwise, underscoring Huawei’s role as a provider of technology for a powerful state monitoring apparatus that authorities say is designed to stamp out radicalization.
7. Gas pipeline further warms China-Russia ties
China and Russia Are Partners—and Now Have a $55 Billion Pipeline to Prove It - WSJ $$
An 1,800-mile pipeline is set to begin delivering Russian natural gas to China on Monday. The $55 billion channel is a feat of energy infrastructure—and political engineering...
New access to Russian natural gas also gives Beijing leverage in the trade war with the U.S. by making China less reliant on America’s generally pricier liquefied natural gas. Shipments of American liquefied natural gas were growing rapidly until China introduced a 10% import tariff last year. After Beijing raised the tariff to 25% in May, natural gas deliveries from the U.S. halted.
Xi, Putin witness launching ceremony of China-Russia east-route natural gas pipeline - Xinhua
Chinese President Xi Jinping had a video call with his Russian counterpart Vladimir Putin Monday.
The CCTV Evening News report 习近平同俄罗斯总统视频连线 共同见证中俄东线天然气管道投产通气仪式
Xi stresses strong strategic support between China, Russia - Xinhua
Chinese President Xi Jinping said Monday that China and Russia should stand closer, always be sincere and reliable strategic partners, and give each other firm and strong strategic support amid the complex and volatile international situation.
Xi made the remarks when meeting with Russian Security Council Secretary Nikolai Patrushev at the Great Hall of the People in Beijing...
This year the United States and some other Western countries have increased their interference in the internal affairs of China and Russia, threatened the sovereign security of the two countries, and impeded their economic and social development, Xi noted.
The Chinese side fully agrees with Russian President Vladimir Putin's comment that this approach is utterly wrong and hurts other countries without benefiting themselves, Xi said...
Patrushev said that Russia and China are comprehensive strategic partners of coordination with strategic significance, and the two countries' cooperation in various fields has reached an unprecedented level.
A series of policies adopted by the United States have not only undermined the interests of Russia and China but also exerted a negative impact on the whole international system and order, he said.
Xinhua Chinese on the meeting 习近平会见俄罗斯联邦安全会议秘书帕特鲁舍夫
Russia and China finish first road bridge connecting two countries - Reuters
The bridge across the River Amur will connect the cities of Blagoveshchensk in Russia's far-east region and Heihe in north-eastern China...
The Chinese side of the bridge was completed in October 2018, but the Russian side took longer to build and cost more — about 13.6 billion roubles ($312 million), compared to 5.2 billion roubles for the Chinese section.
This paper examines Russian and Chinese concepts of great-power war in the 21st century, their views of the West and its military capabilities, and what risks they might both take to regain lost territories.
8. PRC Diplomats taking their case to Twitter
The Ministry of Foreign Affairs (MoFA) opened a Twitter account today - @MFA_China. It has tweeted three times today so far, including:
The account only follows on other account, that of Zhao Lijian, deputy Director General of the Information Department of MoFA. Zhao, tweeting @zlj517, is quite aggressive Tweeter, though over the weekend he deleted a tweet in which he said “China’s win is unstoppable”.
Hua Chunying, Director of the MoFa Information Department, telegraphed a more aggressive global social media strategy in a Study Times article around the time of her promotion into that position. The promotion not long after of Zhao, from his post as DCM at the embassy in Pakistan, was another sign that Twitter was seen as a key battle front in the global information war China is waging.
I am not sure how effective the campaign will be. So far it feels like Beijing sent its external propaganda workers and diplomatic Twitter warriors to North Korea for training.
Business, Economy and Trade
Yangtze River New Focus for Chinese Development and Environment - Bloomberg The plan lays out targets to increase the density of roads, railways, airports and ports in the delta, an area already equipped with comparatively sophisticated infrastructure. Other big-ticket projects on the list include water conservancy facilities, power grids, and renewable energy plants. The plan didn’t specify a target value for the investment.
China outlines integrated development of Yangtze River Delta - Xinhua The Communist Party of China Central Committee and the State Council on Dec 1 jointly issued an outline of the integrated regional development of the Yangtze River Delta..The document detailed development goals to be achieved by 2025 and offered visions into 2035. 中共中央 国务院印发《长江三角洲区域一体化发展规划纲要》
Want Your Ofo Deposit Back? It’s Going to Cost You - SixthTone users have to start spending. Each purchase they make on Tiantian Fan Qian from a major e-commerce platform like Taobao or JD.com gives them a small portion of their deposit refund. // Ofo trying to use the affiliate fees your shopping generates to pay you back
Regulators Unveil New Rules to Clean Up Credit Ratings - Caixin The measures (link in Chinese), which will take effect on Dec. 26, stipulate the responsibilities of credit ratings firms, what types of activities are banned — such as soliciting bribes or providing consulting services to bond issuers — and give details of punishments and fines that could amount to 50% of income received for a particular project or rating that is found to violate regulations.
Ex-Tycoon Jia Yueting’s Creditors Demand He Remain Responsible for Debt Embattled Chinese entrepreneur Jia Yueting, who filed for bankruptcy in October, continues to struggle to make a deal with his creditors, after they rejected his proposal that he and his wife be absolved from their personal responsibility for the debts. No final agreement on a bankruptcy settlement was reached at a meeting on Nov. 25 in the U.S., a creditor who attended the meeting told Caixin on condition of anonymity. All of the creditors at the meeting objected to Jia’s proposal that he and his wife — who are in the middle of a divorce — no longer be personally responsible for the debts, the source said.
Repeated Defaults by China Industrial Firm Spark Contagion Fears - Bloomberg The latest bond default by a Chinese industrial group at the epicenter of a regional debt storm is escalating concerns about a cluster of private firms entangled in risky financing. Shandong-based Xiwang Group Co., which failed to make good on a delayed repayment on a local bond, is scrambling to refinance and avoid deeper trouble after triggering cross-default clauses on other bonds.
Between the lines: new reports offer a peek into Chinese policy banks – Panda Paw Dragon Claw Research teams at Chinese and international institutions collectively shed light on the practices and thinking of CDB and Exim Bank.
Politics and Law
Chinese city halts crematorium plan but stand-off between police and protesters goes on | South China Morning Post Huazhou government says it will consult the public on ‘different views’ to proposed development in town of Wenlou Dozens hurt and up to 100 detained following two days of protests, locals say
Former governor of China’s Xinjiang sentenced in bribery - AP The former governor of China’s tense northwestern region of Xinjiang was sentenced Monday to life in prison on charges of taking bribes, becoming one of the highest-profile ethnic minority politicians to fall in an ongoing anti-corruption campaign. Nur Bekri had been among China’s most politically successful members of the Turkic Muslim Uighur (WEE-gur) ethnic minority
中国特色社会主义制度和国家治理体系形成的历程和成就（深入学习贯彻党的十九届四中全会精神）- 何毅亭 Long piece on page 9 of the Monday People's Daily by He Yiting, EVP of the Central Party School, another in the series of top officials making their statements about the 4th Plenum decision - "The history and achievements of the formation of the socialist system with Chinese characteristics and the national governance system"
以社会治理现代化夯实国家治理现代化的基石（权威访谈） People's daily interview with Central Politics and Law Commission Secretary General Chen Yixin - "We will strengthen the foundation of national governance modernization with social governance modernization"...Party everywhere, Xi thought, no real surprises...
中央统战部、中央网信办在京召开网络人士统战工作会尤权出席并讲话-中共中央网络安全和信息化委员会办公室 United Front Work Department and the Cyberspace Administration held the united front work work of cyber personage meeting in Beijing
Xi: Upgrade emergency management - China Daily Xi made the remark on Friday while presiding over a group study session of the Political Bureau of the CPC Central Committee as it examined the country's emergency management systems and capabilities. China has suffered some of the world's most serious natural disasters and faces an increasing number of factors that endanger public safety, Xi said, pointing to an urgent need to strengthen emergency management for the long run.
China's Shanxi has new Party chief - Xinhua Lou Yangsheng 楼阳生 has been appointed secretary of the Shanxi Provincial Committee of the Communist Party of China (CPC), replacing Luo Huining, according to a decision by the CPC Central Committee. // From the Wikipedia entry on Lou: Lou spent most of his political career in Zhejiang...In November 1999, he left the CYL system to become mayor of Jinhua, then party chief the city of Lishui. During his terms in Jinhua and Lishui, Lou worked under the direction of then-Zhejiang party chief Xi Jinping. As such Lou has been named by political observers as a member of the "New Zhijiang Army", politicians who once worked under Xi and share his governing philosophies.
Deputy Jiangsu Governor to Be Named Bank of China President - Caixin Wang Jiang has been a deputy governor of the wealthy eastern province since July 2017. Before taking on that role he was an executive vice president of Bank of Communications Co. Ltd., another one of the country’s big five lenders, for about two years.
China due to introduce face scans for mobile users - BBC News People in China are now required to have their faces scanned when registering new mobile phone services, as the authorities seek to verify the identities of the country's hundreds of millions of internet users. The regulation, announced in September, was due to come into effect on Sunday.
Chinese ‘serial killer’ caught after spending 20 years on the run | South China Morning Post Police said last Friday that Lao had been arrested in a shopping centre where she worked selling watches in Xiamen, a city in the southeastern province of Fujian. She was arrested as part of Operation Cloud Sword, a national operation targeting fraudsters and fugitives, but police did not say how they had managed to track her down.
Chinese judge behind US$270 million business empire sacked, facing prosecution | South China Morning Post Vice-president of Hainan Provincial Higher People’s Court Zhang Jiahui described as a ‘hypocrite who has low morals and full of selfish greed’ Investigation launched in May after Zhang was seen in a video gambling at mahjong
Foreign and Defense Affairs
Spooked by China, Australia Creates Task Force to Thwart Foreign Interference - WSJ Australia is creating a new intelligence task force to tackle the threat of foreign interference, as authorities grow more concerned that Beijing is meddling in domestic affairs. The task force, to be led by the Australian Security Intelligence Organisation, or ASIO, will pool classified information from the country’s intelligence agencies including those involved in defense, cyber and financial crimes as well as the FBI-style Australian Federal Police.
China Is Aiming to ‘Break’ Detained Australian Writer, Lawyers Say - The New York Times Yang Hengjun has been shackled, cut off from all contact with his family and interrogated daily to make him confess to being a spy, his representatives said.
Suddenly, the Chinese Threat to Australia Seems Very Real - The New York Times Polls showed a hardening of Australian attitudes about China even before the past week. Now Mr. Hastie, the China hawk and Liberal Party lawmaker who chairs Parliament’s joint intelligence committee, says his office has been overwhelmed by people across the country who have emailed, called and even sent handwritten letters expressing outrage and anxiety about China’s actions in Australia.
Chinese elite police join Serbian units in first European drills as Beijing's influence spreads to Balkans | Reuters Chinese special police took part in their first joint training drills in Europe on Thursday, joining Serbia’s elite anti-terrorist unit and local police in an exercise at a Chinese-owned steel mill outside Belgrade.
Chinese foreign minister to visit S. Korea for first time in over 5 years : The Hankyoreh His visit is being taken as a sign of improvement in South Korea-China relations and as heralding a visit to South Korea by Chinese President Xi Jinping sometime before March of next year. South Korea’s Ministry of Foreign Affairs (MOFA) announced on Nov. 28 that Wang will be visiting South Korea on Dec. 4-5.
Prague will sign a sister city agreement with Taipei after Beijing breakup - Prague, Czech Republic The City of Prague will sign a sister agreement pact with Taiwan’s capital Taipei, concerning economic, business and cultural cooperation, according to a document that Prague City Hall approved today.
In Shanghai, Canadian business leaders say they’re eager to move on after a year of friction - The Globe and Mail “Citizens from both countries have been detained. Canadians strongly wish to see their citizens come home safely and be reunited with their families. The Chinese people also wish to see the same,” said Olivier Desmarais, senior vice-president at Power Corp. and chair of the Canada China Business Council, which held an annual gathering in Shanghai Monday. The meeting’s corporate sponsors included Bank of Montreal, Huawei, Bombardier and Manulife – each with an interest in smoother relations between the two countries. // Question: Is Bo Xilai's son Bo Guagua working for one of the Desmarais' entities?
B.C. politician breaks silence: China detained me, is interfering ‘in our democracy’ | Globalnews.ca Richard Lee, the B.C. Liberal MLA for Burnaby from 2001 to 2017, provided Global News with a letter outlining his allegations, sent on Jan. 1, 2019, to then-foreign affairs minister Chrystia Freeland and Prime Minister Justin Trudeau.
Tory slap: Chinese journalist sentenced for delegate assault - BBC News Kong [Linlin] was given a 12-month conditional discharge and ordered to pay costs, a victim surcharge and £100 compensation, which totalled £2,115. Her barrister, Timothy Raggatt QC, told the judge she would appeal both the conviction and sentence.
China has ‘a lot of spies’ in Ireland, activists claim - Irish Times The Irish Times has been speaking with people from the Tibetan and Hong Kong communities about living in Ireland while being careful not to come to the attention of the Beijing authorities. No one from the small Irish community of Uighur Turkic Muslims, from the northwestern province of Xinjiang, would agree to be interviewed.
China makes great efforts promoting Tibetan medicine as India continues hyping its claim - Global Times "India set the Tibetan medicine institute in Ladakh on purpose, so that India could assimilate the region in order to merge Ladakh into India," Hu Zhiyong, a research fellow at the institute of international relations of the Shanghai Academy of Social Sciences, told the Global Times on Tuesday. "India has been hyping its work on Tibetan medicine," Hu said, adding that India wants to transfer its people's attention away from economic decline by worsening China-India relations.
Sri Lanka wants to undo deal to lease port to China for 99 years - Bloomberg Sri Lanka’s new government led by President Gotabaya Rajapaksa wants to undo the previous regime’s move to lease the southern port of Hambantota to a Chinese venture, citing national interest.
Hong Kong and Macao
New gov't team shows spirit of reform, innovation: Macau's fifth-term chief executive - Xinhua The new government team demonstrates a spirit of reform and innovation, and is dedicated to injecting new vitality with concerted efforts, the fifth-term chief executive of the China's Macau Special Administrative Region Ho Iat Seng said on Monday.
Macau Visa Controls Could be the Latest Factor Crimping VIP Revenue - Casino.org Ahead of the December celebration commemorating the twentieth anniversary of Macau’s handover from Portugal to China, authorities on the mainland are restricting visas, thereby limiting visits to the gambling hub. That potentially throws another wrench in operators’ efforts to bolster sagging revenue among VIP gamblers.
Taiwan
In face of China threat, Taiwan to invite U.S. experts to bolster defenses - Reuters The ministry “hopes to use the U.S. military’s practical experience to provide a reference for the national armed forces’ construction and war preparations”.
Tech and Media
China Uyghur Analytic Projects Require Intel And NVIDIA, Intel Condemns, NVIDIA Silent At least 8 PRC China police projects require NVIDIA and Intel chips to power their Uyghur-detecting analytics, according to procurement documents found by IPVM
Chinese tech groups shaping UN facial recognition standards | Financial Times $$ Chinese technology companies are shaping new facial recognition and surveillance standards at the UN, according to leaked documents obtained by the Financial Times, as they try to open up new markets in the developing world for their cutting-edge technologies. Companies such as ZTE, Dahua and China Telecom are among those proposing new international standards — specifications aimed at creating universally consistent technology — in the UN’s International Telecommunication Union (ITU) for facial recognition, video monitoring, city and vehicle surveillance.
China issues regulation for online audio, video services, crackdowns on "deep fakes" - Xinhua Online service providers or users producing, releasing or disseminating digitally-altered audio or video content based on new technologies like deep learning or virtual reality shall place conspicuous marks, according to the regulation. No one shall generate, release or disseminate fake news or information by using such technologies, the document said.
An update on recent content and account questions - Newsroom | TikTok November 27, 2019 @ 7:06am ET – Due to a human moderation error, the viral video from November 23 was removed. It's important to clarify that nothing in our Community Guidelines precludes content such as this video, and it should not have been removed.//Comment: TikTok should be pressed on why a human moderator was even looking at this account
Bloomsbury sets up China joint venture | Financial Times $$ The British company, which derives roughly two-thirds of its sales from overseas, told investors on Monday that it planned to invest roughly £250,000 in the partnership with China Youth Publishing Group and its subsidiary, Roaring Lion Media.
Society, Arts, Sports, Culture and History
Sports industry investment fund eyed - China Daily China will soon launch a sports industry investment fund to stimulate sports-related business and brands, the General Administration of Sport of China said on Friday. The sports governing body and the Ministry of Finance are now jointly studying the feasibility of the fund, said Liu Fumin, director of the sports economy department of the administration. He did not announce when the fund would be formally launched
Energy, Environment, Science and Health
In China, coal creeps back in as slowing economy overshadows climate change ambitions - Reuters Beijing promised this year to show the “highest possible ambition” when revising its emissions pledges next year, although it did not commit to more stringent binding targets. But it has built 42.9 gigawatts of new coal-fired power capacity since the start of last year, with another 121 GW under construction. That compares with 35 GW of coal-fired power added in 2017 and 38 GW in 2016.
China to use drug bulk-buy program to close price gap - CNA Many branded versions of drugs are currently more expensive in China than in other major markets. They could now be subjected to a centralized procurement program where manufacturers will have to go through a bidding process to get the right to supply drugs to public hospitals, the National Health Commission said in a document published on late Friday (Nov 29).
涉案几十亿以上的医学骗局曝光！原北大院长饶毅举报原同济校长、武大院长、中科院所长学术造假 This article looks at the history of fraudulent claims of the entrepreneur behind the company making the Alzheimer's drug
首都医科大学校长饶毅实名举报3人学术论文造假_手机新浪网 Rao Yi accuses researchers and company behind the supposed new Alzheimer’s drug GV-971 of research fraud
China extends water diversion project to pump more water to Beijing-Tianjin-Hebei - Xinhua An extension of the south-to-north water diversion project broke ground in the city of Linqing in east China's Shangdong Province on Thursday to reinforce water supply to the Beijing-Tianjin-Hebei region. The extension is expected to channel 490 million more cubic meters of water northbound to the Beijing-Tianjin-Hebei region annually
Rural and Agricultural Issues
China Must Recover Pig Production, Stabilise Pork Supply-Vice Premier - Reuters Chinese Vice Premier Hu Chunhua said the country must resolutely work to achieve the target of recovering pig production numbers, and stabilise pork supply for the upcoming holidays, the official Xinhua News Agency reported. // Comment: A lot of pressure on Hu
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What a world we live in. How is it that the Chinese Central Bank talks like a conservative monetarist while Western Central Banks are all busy being touchy feely New Keynesians (used to be synonymous with Socialist Economics)? But then QE is all about robbing the poor to give to the rich, kind of a reverse-socialism, while Chicom at least says it will focus on the poorest for the next few years. Contradictions are apparently everywhere.
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