News roundup: Taiwan scrambles jets
Top China news for January 11, 2017. Get this daily digest delivered to your inbox by signing up atย supchina.com/subscribe.
Taiwan scrambles jets as Chinese aircraft carrier sails through Taiwan Strait
South China Sea tensions continue to escalate: A Chinese navy flotilla, including the countryโs sole aircraft carrier, sailed through the Taiwan Strait on Wednesday. The group entered Taiwanโs air defense identification zone; as a result, Reutersย reports, โTaiwan scrambled jets and navy ships to โsurveil and controlโ the passage of the Chinese ships.โ Chinese vice foreign minister Liu Zhenmin stated, โThe Taiwan Strait is an international waterway shared between the mainland and Taiwan. So, it is normal for the Liaoning to go back and forth through the Taiwan Strait in the course of training.โ Chang Hsiao-yueh, minister for Taiwanโs Mainland Affairs Council, said that his islandโs government โhas sufficient capability to protect our national security,โ but that โany threats would not benefit cross-Strait ties.โ
Trumpโs China trademarks โrisk a constitutional crisisโ
Donald Trump continues to suck media oxygen: The latest China-related report, from AFP, claims that the president-elect has at least 45 trademark applications pending in China filed in his own name. Moreover, this might have consequences. AFPย notes, โExperts from across the U.S. ยญpolitical spectrum said the applications could put Trump on a collision course with the U.S. constitution,โ which โforbids federal officials from receiving a gift or โemolumentโ โ a salary, fee or profit โ from a foreign government.โ Meanwhile, according to the South China Morning Post, Chinaโs deputy foreign affairs minister saysย that Beijing is willing to arrange meetings with Trumpโs team at the World Economic Forum at Davos later this month.
Today on The China Project:ย Please enjoy our special feature on the groundbreaking Chinese photographer Chen Man. Weโve included an image galleryย along with an abridged translation of various media interviews with her from the last few years.
More China stories worth your time are curated below, with the most important ones at the top of each section.
BUSINESS AND TECHNOLOGY:
- Banks forced to cover tracks of Chinaโs forex regulatorย / Reuters
After the yuanโs decline of more than 6 percent against the dollar last year, several bankers told Reutersย that the State Administration of Foreign Exchange (SAFE) had told banks to keep its instructions about tightening capital outflows secret. SAFE, an agency under of the Peopleโs Bank of China, denied the allegation and called the report โinaccurateโ and โmisleading.โ In a statement released on Wednesday, SAFEโs Shanghai branch said it didnโt impose new measures but had asked banks to conduct โstrength checks on compliance and deal authenticity.โ Reutersย reported that โa representative from an international bank attending the meeting said there were no written instructions, but a high-ranking SAFE official told them explicitly what was expected of them. โYou must control your forex deficit, but you canโt say that SAFE is controlling capital outflows,โ the official told the bankers.โ - Chinaโs 2 percent inflation feels more like 20 percent to big-city rentersย / Bloomberg
Soaring rental and purchase housing prices mean that many urban Chinese have been feeling squeezed despite Chinaโs low official inflation rate of 2 percent. โโFor college graduates in Beijing or Shanghai, rental can take up 50 percent of their pay checks,โ said Ding Shuang, chief China economist at Standard Chartered Plc in Hong Kong, adding that what people spend on will dictate their inflation perceptions.โ
- In China, insurers sell risky products to fund risky investments, freaking out regulatorsย / WSJ (paywall)
- Yahoo to become Alibaba alter ego with name changeย / Caixin
- Alibaba looks to bricks and mortar with bid for mall operator in Chinaย / NYT (paywall)
- Bitcoin falls 10% as China plans to investigate exchangesย / CNBC
- Why is Nokiaโs smartphone comeback limited to China?ย / Newsweek
POLITICS AND CURRENT AFFAIRS:
- Xi to stress Chinaโs โresponsibleโ global role in Davosย / WSJ (paywall)
Chinaโs foreign ministry followed up today on reports from yesterdayย that Xi Jinping would be the first Chinese head of state to attend the World Economic Forum in Davos, Switzerland. The ministry statedย that Xi will respond to criticism of Chinaโs economy, โencourage various parties to put economic globalization in perspective, and push forward economic globalization in a more inclusive and equitable way.โ As China moves to defend free trade and the upcoming U.S. administration plans to move away from it, it was also reported that there will be โopen channels of communicationโ between the Chinese and American delegations attending Davos. - China to set up Asia-Pacific security framework amid growing mistrust among its neighborsย / SCMP
In its โfirst policy white paper on Asia-Pacific security cooperation,โ Beijing called for more military exchanges and transparent military alliances with its neighbors. But it criticized U.S.-South Korea collaboration to install a missile defense system in Seoul, arguing that โsmall and medium-sized countries need not and should not take sides among big countries.โ
- Chinaโs biggest challenges: 7 things Xi needs to nail in 2017ย / Bloomberg
- China is scrubbing outspoken Taiwan and Hong Kong celebrities from its streaming servicesย / Quartz
- Trump through Chinese eyesย / Project Syndicate
SOCIETY AND CULTURE:
- China to boost beds, staff to handle healthcare strainsย / Reuters
As part of its 2016โ2020 five-year health plan, China aims to add 89,000 new hospital beds and train 140,000 new obstetricians and nurses by the end of the decade, partly due to the countryโs aging population and the relaxation of its one-child policy. According to the new plan, demographic problems are likely to become more pronounced in the coming five years as Chinaโs average life expectancy is expected to increase, along with its population. - How mixed Chinese-Western couples were treated a century agoย / Asia Society
An interview with Emma J. Teng, a professor of Asian civilizations at MIT and author of the book Eurasian: Mixed Identities in the United States, China, and Hong Kong, 1842โ1943, on challenges for racially mixed couples in the United States and China in the 19th century and what historical stands can still be felt today.
- Edifice complex: China is the worldโs largest skyscraper factory, againย / WSJ (paywall)
- China: The secret lives of urban waste pickersย / The Guardian
- Hong Kong divided over Forbidden City museum planย / BBC News
- Feminism in China and the Wandering Life: An interview with Maura Elizabeth Cunninghamย / LA Review of Books
WEI WATCH:
Keep an eye on whatโs buzzing among Chinaโs 700 million social media users.
China says no to Pokemon Go over public safety and national security concernsย / Beijing Morning Post (in Chinese)
Chinaโs media regulating authority announced on Tuesday that Pokemon Go, along with other augmented reality games, will be banned in China for now until potential security risks related to them are fully evaluated. The authorityโs statement explained, โgiven overseas consumer experience and several cases, games of this genre present big social risks during their operation, such as posing a threat to geographical information security, social transportation safety, and personal safety.โ The statement drew mixed reactions online, as some commentedย that โthe government is truly afraid of public gathering,โ while others applauded the decision, writing that โnational secrets are very likely to be disclosed if the game is introduced to China.โ