Australian PM Albanese patches up ties with Xi
...and Arkansas orders a Chinese company to sell land | Tuesday, November 7th
Dear reader:
Our Word of the Day is a saying that means: When one door closes, another opens:
When itโs dark in the east, the west lights up, when itโs black in the south, thereโs always the north
ไธๆนไธไบฎ่ฅฟๆนไบฎ๏ผ้ปไบๅๆนๆๅๆน
dลngfฤng bรน liร ng xฤซfฤng liร ng, hฤile nรกnfฤng yวu bฤifฤng
Jeremy Goldkorn
Editor-in-Chief ย |
CURRENT AFFAIRS
Xi and Albanese meet in Beijing |
Chinese President Xi Jinping meets with Australian Prime Minister Anthony Albanese at the Great Hall of the People in Beijing, on November 6, 2023. Xinhua/Ding Haitao |
Australian Prime Minister Anthony Albanese met with Chinese leader Xรญ Jรฌnpรญng ไน ่ฟๅนณ today in Beijing. Albanese is currently on a highly-anticipated visit to China from November 4 to 7.
Xi and Albaneseโs meeting addressed substantive issues, according to official readouts and media reports.
This meeting is a sign of warmer relations between the two countries, after years of tense ties. |
NEWS BRIEFING
Hereโs what else you need to know about China today:
China urged Myanmar to help maintain stability along their shared border after a surge of fighting in Myanmar between military junta forces and insurgents rocked the region last week. Clashes have erupted along the 2,000-kilometer (1243-mile) border along Chinaโs Yunnan Province, with local militias reportedly seizing military posts and key roads leading to China. โChina is closely following the conflict in northern Myanmar. We urge parties to immediately stop the fighting, settle differences peacefully through dialogue and consultation, avoid escalation of the situation and take effective measures to ensure security and stability at the China-Myanmar border,โ Chinese Foreign Ministry spokesperson Wฤng Wรฉnbฤซn ๆฑชๆๆ said on November 2. Blizzards and sleet storms have killed at least eight people and left one missing as a wave of unseasonably cold weather hits northeast China. Temperatures are forecasted to drop to 0ยฐC (-32ยฐF) overnight in Beijing, while heavy snowfall and sleets are expected to hit large swaths of the north. In the countryโs northernmost province of Heilongjiang, some areas were predicted to receive accumulative precipitation exceeding 40 mm. Harbin, the provinceโs capital city, suspended passenger coach services, canceled flights, and halted all classes as of this morning. Chinaโs economy tsar Hรฉ Lรฌfฤng ไฝ็ซๅณฐ has been appointed as head of office of Central Financial Commission (CFC), central bank publication Financial News reported today. He is now the chief of two of the Communist Partyโs top financial sector policy making bodies following his appointment as Party chief of a separate Central Financial Work Commission (CFWC), cementing his leadership and strengthening Party control over Chinaโs financial system. Today, the Chinese Foreign Ministry announced that He will visit the U.S. from November 8โ12. Former Chinese premier Lว Kรจqiรกng ๆๅ ๅผบ was cremated on November 3 following his death late last month. The ceremony for Li, who passed away from a heart attack at 68, was held at the Babaoshan Revolutionary Cemetery in Beijing, with Xรญ Jรฌnpรญng ไน ่ฟๅนณ and other top officials present to pay their final respects. National flags were lowered to half-mast in Tiananmen Square in Beijing and other places around the country, drawing crowds of mourners at various sites marking his legacy and an outpouring of grief on social media. China pledged to expand market access and boost imports during a keynote speech yesterday by Chinese premier Lว Qiรกng ๆๅผบ at the sixth China International Import Expo (CIIE) in Shanghai. โNo matter how the world changes, Chinaโs pace of opening up will never stall, and its determination to share development opportunities with the world will never change,โ Li said. Qatar agreed to supply Chinese state-owned petrol giant Sinopec with liquefied natural gas (LNG) for 27 years, the Gulf emirateโs state-owned energy company QatarEnergy announced at the CIIE on November 4. It is the second such agreement signed with Sinopec, as China seeks to bolster its energy security. Beijing has banned Communist Party officials from investing their savings into domestic Chinese private equity funds, Chinese state media reported. Itโs the latest move by the party-state in its sweeping anti-corruption crackdown among the ranks of its government and its financial sector. Meanwhile, Zhฤng Hรณnglรฌ ๅผ ็บขๅ, former vice president of Industrial and Commercial Bank of China Ltd. (ICBC), has been placed under investigation for suspected severe violations of law and Communist Party discipline โ a euphemism for corruption, Chinaโs Central Commission for Discipline Inspection (CCDI) said on November 4. U.S. consultancy Gallup will close all three of its offices in China, becoming the latest overseas firm to pull out of the country amid geopolitical tensions and Beijingโs growing scrutiny over foreign entities operating within its borders. โRegrettably, Gallup has made the decision to close its operations in China,โ the Washington-based company said in a notice seen by the Financial Times. Ant Group won government approval to roll out AI-powered services to the public. The Alibaba fintech affiliate has gotten the green light to roll out products powered by its large language model Bailing, in the race to create a domestic generative AI-powered chatbot to rival OpenAIโs ChatGPT. Chinese state media: Xinhua News Agency leads with a story on Xi meeting South African Vice President Paul Mashatile of South Africa, and the top photo carousel highlights Xiโs meetings in the last two days with Australian Prime Minister Anthony Albanese, Cuban Prime Minister Manuel Marrero Cruz, and Serbian Prime Minister Ana Brnabiฤ. The Peopleโs Daily print edition front page leads with two Xi Jinping stories: The General Secretary sent a letter to the 6th China International Import Expo, and excerpts of his Essays on Chinese Modernization were published and distributed. ย |
BUSINESS AND TECH
China-owned companies reckon with U.S. state, national land purchase bans |
Illustration for The China Project by Alex Santafรฉ |
Last month, Arkansas ordered Chinese state-owned seed and pesticide giant Syngenta to sell its land holdings in the state, the latest sign of increased scrutiny over Chinese ownership of American farmland. But Arkansas isnโt the only state taking such measures.
Chinese purchases of farmland have touched a nerve in American politics, but Georgetown Professor Kristen Looney told us that the current frenzy around the issue might be a bit of an overreaction.
Chinese ownership of U.S. farmland pales in comparison to other countries โ U.S. Department of Agriculture data shows that in 2021, Chinese owners held slightly less than 1% of all foreign holdings, which, in turn, accounted for around 3% of all U.S. agricultural land. Click through to The China Project for all the details. Eduardo Jaramillo |
ISRAEL-HAMAS WAR
Chinaโs cognitive dissonance in the Israel-Hamas war |
Illustration for The China Project by Derek Zheng |
The underlying premises driving Chinaโs approach in the Middle East seem increasingly out of sync with the shifting realities.
Perhaps most ironically, Hamas (and its supporters in Iran, etc.) embrace a strand of radical Islam that China fears most.
Dale Aluf, the research and strategy director at SIGNAL Group, has this op-ed. ย |
MORE FROM THE CHINA PROJECT
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FROM THE NEWSBASE
Below are links from our NewsBase to other noteworthy reports published in the last 24 hours from and about China.BUSINESS AND TECHNOLOGY:China is shifting from real estate Chinaโs stock markets U.S.-China tech war Semiconductors Foreign companies in China U.S.-China trade war Chinaโs financial sector Economic reform Pension funds Escaping the โChina-riskโ Youth unemployment Forced labor AI Aviation industry FDI Oil Huawei Ant Group DouYu SCIENCE, HEALTH, AND ENVIRONMENT:Extreme weather Nuclear energy Anti-aging Weight loss drugs POLITICS AND FOREIGN AFFAIRS:New investment curbs rules for Party officials Corruption Aftermath of Li Keqiangโs death Hong Kong bankersโ summit Fentanyl in Hong Kong Hong Kong customs uncovers HK$140 million drugs stash inside shipment from North America, including largest fentanyl haul in over 3 years / SCMP (paywall) Taiwan China International Import Expo South China Sea U.S.-China competition and tensions Israel-Hamas war North Korea Cuba Australia Saudi Arabia Canada Myanmar Bhutan
EU SOCIETY AND CULTURE:LGBTQ Ballet โFriendsโ in China Catholic church False information on Douyin The dark side of business marriages Books Makeup ย |