China in the News: February 27, 2021

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Daily news headlines about China from around the world

Short-sellers take aim at Chinese blockchain firm SOS, shares tumble

Short-sellers Hindenburg Research and Culper Research said on Friday they have taken a short position on Chinese blockchain firm SOS Ltd’s stock, sending the company’s shares down 23%. 2:31pm EST

U.S. to allow rule targeting Chinese tech companies next month – WSJ

The Biden administration plans to impose a Trump-era rule, effective next month targeting Chinese technology firms that pose a threat to the United States, following objections from U.S. businesses, the Wall Street Journal reported on Friday, citing people familiar with the matter. https://on.wsj.com/2NH0lKV 1:36pm EST

U.N. rights chief decries arrests in China, abuses in Xinjiang

United Nations human rights chief Michelle Bachelet said on Friday that China is restricting basic civil and political freedoms in the name of national security and COVID-19 measures, adding to a wave of criticism of the country’s rights record. 11:40am EST

Exclusive: China’s Huawei, reeling from U.S. sanctions, plans foray into EVs – sources

China’s Huawei plans to make electric vehicles under its own brand and could launch some models this year, four sources said, as the world’s largest telecommunications equipment maker, battered by U.S. sanctions, explores a strategic shift. 7:38am EST

China will extend tariff exemptions for 65 U.S. products

China’s finance ministry said on Friday that it would extend tariff exemptions for 65 imported products from the United States, including logs and aircraft parts. 7:00am EST

Forbidden fruit: Taiwan urges people to eat more pineapples after China ban

Taiwan President Tsai Ing-wen called on people to eat more pineapples to help farmers on Friday, saying Taiwan had been “ambushed” by a ban on the fruit by neighbouring long-time rival China which claims the island as its own. 6:02am EST

Queensland skies light up as Chinese space junk burns up in atmosphere

Social media in Queensland, Australia lit up on Thursday night, matching the flashing night sky as users posted short videos of what experts later said was debris from a Chinese rocket burning up as it re-entered the Earth’s atmosphere. 5:42am EST

Chinese court backs publisher of textbook calling homosexuality ‘psychological disorder’

A court in China’s eastern Jiangsu province recently ruled in favour of a publisher that described homosexuality as a “psychological disorder” in a university textbook. 5:18am EST

China expected to unveil hike in military budget as tensions rise

China is expected to reveal a robust increase in defence spending at the March 5 annual opening of parliament, as its economy rebounds from the COVID-19 pandemic and military tensions rise, Chinese and Western security experts said.   4:52am EST

China’s Ant to boost consumer finance unit capital as it restructures micro-lending: sources

China’s Ant Group is in talks with other shareholders in its new consumer finance unit to bolster the firm’s capital as the fintech giant prepares to fold in its lucrative micro-lending businesses, people familiar with the matter said. 3:49am EST

India, China foreign ministers to set up hotline as border crisis eases

India and China have agreed to set up a hotline between their foreign ministers as the two nuclear-armed neighbours look to reduce tensions along a disputed Himalayan border where their troops have been locked in confrontation since last summer. 2:35am EST

Tim Hortons China raises fresh cash, plans to add 200 shops in 2021

Tim Hortons China has completed a new fundraising round from Sequoia Capital China, Tencent Holdings and Eastern Bell Capital, and plans to add more than 200 shops to its network this year, the coffee chain operator said on Friday. 2:23am EST

Breakingviews – Evergrande contagion tests Beijing’s generosity

Evergrande’s troubles are proving contagious. Suning.com, one of China’s best-known retailers, recently threw a financial lifeline to the embattled property developer. That added to the $10 billion company’s own debt woes. A government bailout looks imminent, but Beijing has reason to hold back. 2:06am EST

China’s factory activity growth likely moderated during Feb holiday lull: Reuters poll

China’s factory activity likely grew at a slightly slower rate in February as factories closed for the Lunar New Year holiday, a Reuters poll showed, although growth is expected to remain firm, buoyed by an early resumption of production. Feb 25 2021

Dutch parliament: China’s treatment of Uighurs is genocide

The Dutch parliament on Thursday passed a non-binding motion saying the treatment of the Uighur Muslim minority in China amounts to genocide, the first such move by a European country. Feb 25 2021

China’s economy could grow 8-9% this year from low base in 2020: central bank adviser

China’s gross domestic product (GDP) could expand 8-9% in 2021 as it continues to rebound from the COVID-19 pandemic, Liu Shijin, a policy adviser to the People’s Bank of China, said on Friday. Feb 25 2021

Biden USTR nominee Tai vows to end trade ‘race to the bottom,’ counter China

Katherine Tai, President Joe Biden’s top trade nominee, backed tariffs as a “legitimate tool” to counter China’s state-driven economic model and vowed to hold Beijing to its prior commitments, while promising a sweeping new approach to U.S. trade. Feb 25 2021

U.S. has not made ‘final decision’ on participating in Olympics in China

The White House has not made a final decision on whether the United States will take part in the 2022 Winter Olympics in China, President Joe Biden’s spokeswoman said on Thursday, even as some Republicans call for a boycott. Feb 25 2021

New Chinese study finds milder variants of African swine fever virus

New variants of the African swine fever virus circulating in China appear to cause a milder form of the disease, making it less deadly but harder to detect and to bring under control, a study published this week showed. Feb 25 2021

China approves two more domestic COVID-19 vaccines for public use

China’s medical products regulator said on Thursday that it had approved two more COVID-19 vaccines for public use, raising the number of domestically produced vaccines that can be used in China to four. Feb 25 2021

China’s President Xi Jinping trumpets ‘complete victory’ in campaign to end rural poverty

China’s government is celebrating President Xi Jinping’s “complete victory” in the country’s campaign to eradicate rural poverty.ABC NewsYesterday

China space junk Chinese Long March 3B satellite spotted over Queensland skies

Stargazers have been left scratching their heads after spotting what appeared to be a meteor soaring through the night sky. Several people took to social media …7NEWS.com.au16 hours ago

Universities brace for Chinese student hit after COVID

Australian universities have received reports through their Chinese networks that local recruitment agents have been encouraged not to send students to …Sydney Morning Herald2 hours ago

Biden’s trade attack on China will reverberate around the world

President Joe Biden’s ordering of a 100-day review of vulnerabilities in America’s supply chains highlights the dependence the US, and other developed …Sydney Morning Herald2 days ago

From Syria to China, dictators are still getting away with murder

We can’t rely on the glacial pace of international law to provide justice, says the Guardian columnist Jonathan Freedland.The Guardian2 hours agoOpinion

China and India spruik their COVID-19 vaccines in a soft-power push across the world

Experts say Beijing and New Delhi are sending millions of doses of COVID-19 vaccinations abroad in the hopes of shoring up their international reputations and …ABC News2 days ago

Penfolds owner Treasury Wines axes 60 jobs in China

Penfolds owner Treasury Wine Estates has axed up to 60 positions from across its China wine business following the punishing wine tariffs imposed by the …The Australian Financial Review19 hours ago

Taiwan urges people to eat more pineapples after China bans imports amid campaign of ‘intimidation’

Taiwan President Tsai Ing-wen calls on people to eat more pineapples to help farmers, saying Taiwan has been “ambushed” by a Chinese ban on the fruit, …ABC News3 hours ago

China’s economy could double in size by 2035 — and surpass the U.S. along the way

China would surpass the U.S. as the world’s largest economy around 2027-2028, said an economist from the Bank of America.CNBC14 hours ago

How China was behind ‘meteor’ spotted over Queensland

A fireball seen shooting through the air in Queensland last night may have in fact been a piece of a Chinese rocket.Yahoo News Australia8 hours ago

A Spreadsheet of China’s Censorship Shows the Human Toll

An online spreadsheet with an anonymous minder keeps a tally of Xi Jinping’s crackdown on online speech.The New York Times1 hour ago

Dutch parliament recognises China’s treatment of Uighur Muslims as ‘genocide’

The Netherland has become the third country, after the United States and Canada, to take action amid mounting evidence of reported human rights abuses …SBS News19 hours ago

It’s a smash hit! Chinese return big-time to movie theaters

BEIJING (AP) — The thrills and chills of the big screen are back big-time in the world’s largest film market. With the coronavirus well under control in China and …The Associated Press2 hours ago

Selena Gomez: ‘Disrespectful’ transplant image prompts Chinese TV apology

Variety show edits photo of US pop star Selena Gomez taken after her kidney transplant surgery.BBC News4 hours ago

China sets 15-year transport plan to help double economy by 2035

China’s plans to expand its high-speed railway system by 84 per cent come less than two weeks after US President Joe Biden warned that China is threatening …South China Morning Post20 hours ago

China denies requiring anal swabs from US diplomats

US media claims diplomats were made to undergo anal swabs to test for coronavirus.BBC News2 days ago

India’s firmness, Xi Jinping’s political goals, explain China’s withdrawal in Ladakh

A great deal has already been written by Indian experts on the decision by the Indian Army and the People’s Liberation Army to “disengage” in Ladakh, starting …The Indian Express17 hours agoOpinion

Tim Hortons marks two years in China with Tencent investment

Tim Hortons, the Canadian coffee and doughnut giant, has raised a new round of funding for its Chinese venture. The investment is led by Sequoia China with …TechCrunch11 hours ago

U.S. to Impose Sweeping Rule Aimed at China Technology Threats

WASHINGTON—The Biden administration plans to allow a sweeping Trump-era rule aimed at combating Chinese technology threats to take effect next month, …The Wall Street Journal2 hours ago

China expected to unveil hike in military budget as tensions rise

HONG KONG/BEIJING (Reuters) – China is expected to reveal a robust increase in defence spending at the March 5 annual opening of parliament, as its …Reuters11 hours ago

China’s economy could grow 8-9% this year from low base in 2020: central bank adviser

China’s gross domestic product (GDP) could expand 8-9% in 2021 as it continues to rebound from the COVID-19 pandemic, Liu Shijin, a policy adviser to the …Reuters17 hours ago

Malign ASPI report underestimates strong China-Myanmar ties

The Australian Strategic Policy Institute (ASPI) has, for a long time now, discredited itself by acting as a malign and “rogue” instrument of the ultra-right political …Global Times11 hours ago

China says U.S. undermining stability after warship sails through Taiwan Strait

The Chinese military criticized the United States on Thursday for undermining regional peace and stability after a U.S. Navy warship sailed through the Taiwan …NBC News2 days ago

Mukesh Ambani is again richest Asian as Chinas Zhong loses $22 billion

Read more about Mukesh Ambani is again richest Asian as China’s Zhong loses $22 billion on Business-standard. With a net worth of about $80 billion, Ambani …Business Standard3 hours ago

China may deploy up to 75 GW of PV this year

According to new forecasts from AECEA, China may see strong development of large-scale solar plants this year, due to a massive pipeline of unsubsidized …pv magazine International10 hours ago

Squeezed by China’s Tariffs, Australian Farmers Cultivate New Markets

Barley exports are expected to rise, with farmers finding new customers and growing new crops, showing the limits of Beijing’s trade pressure.The Wall Street Journal2 days ago

Chinese £3,200 budget electric car takes on Tesla

The mini electric vehicle being made by China’s biggest carmaker is now outselling Tesla two to one.BBC News2 days ago

With COVID-19 under control, China moviegoers smash box office records

BEIJING (AP) — The thrills and chills of the big screen are back big-time in the world’s largest film market. With coronavirus well under control in China and …MarketWatch13 hours ago

China’s New Home Sales Recover from Pandemic, Vary by Region

Related Fitch Ratings *Content*: China Property Watch – February 2021: Eastern China Outperformed in 2020; Fitch-Rated Developers’ Market Share Gains SlowFitch Ratings12 hours ago

Retail traders’ hold on China’s stock market slips as institutions rise

Retail investors’ influence in China’s stock market is fading as institutional dominance grows, standing in contrast to a global surge in amateur trading that has …Financial Times20 hours ago

CHINA HRC: Exporters quiet due to soaring freight costs

China’s hot-rolled coil prices narrowed day on day on Friday February 26 amid futures losses, with the export market largely quiet due to surging freight costs.Metalbulletin.com10 hours ago

Orica hit by Australia-China trade spat, CEO to step down

Orica chief executive Alberto Calderon will step down from the $5 billion explosives manufacturer which is feeling the heat from slower mining activity.Sydney Morning Herald14 hours ago

China’s Oil Reserves Are Close to Reaching Storage Capacity

China’s oil stockpiles have risen to around 100 days worth of net imports, making it increasingly challenging to find extra storage tanks and facilities to hold …Bloomberg10 hours ago

AmCham South China: 94% of US Companies Optimistic towards 2021 Business Outlook in China

PRNewswire/ — The American Chamber of Commerce in South China (“AmCham South China”) today released its 2021 White Paper on the Business …PRNewswire11 hours ago

China’s Huawei, reeling from U.S. sanctions, plans foray into EVs: Sources

HONG KONG/BEIJING: China’s Huawei plans to make electric vehicles under its own brand and could launch some models this year, four sources said, as the …Mint5 hours ago

China Wants Your Data — And May Already Have It

When COVID hit, a Chinese firm offered to set up testing labs in the U.S., which could have given it access to DNA data. The U.S. says this is part of China’s effort …NPR2 days ago

From fashion blogger to Vogue China editor-in-chief, Margaret Zhang’s meteoric rise

At 16, Margaret Zhang started her own fashion blog in Sydney. Now, aged 27, she will take control of the Chinese edition of the Vogue fashion magazine …Sydney Morning Herald2 days ago

China’s Campaign to Crush Democracy in Hong Kong Is Working

Hong Kong, the freewheeling former British colony, has been brought to heel by a new national security law used to quell street protests, ban foreign lobbying …The Wall Street JournalYesterday

China blocks more than 23,000 litres of Australian wine as spat continues

Batches of wine from Penfolds and Badger’s Brook Estate are the latest Australian products to be stopped at Chinese ports, reportedly over labelling issues.South China Morning Post2 days ago

A U.S. strategy paper on China draws a tepid response in Beijing

“The Longer Telegram” and its call for stringent U.S. policy on China caught the attention of many in Washington, but only a passing public response in Beijing.CNBC3 days ago

The rivalry between America and China will hinge on South-East Asia

DURING THEIR 45-year feud, America and the Soviet Union fought proxy battles all across the world. But the cold war was at its most intense in Europe, where …The Economist2 hours agoOpinion

China: Baseless Imprisonments Surge in Xinjiang

(New York) – The Chinese government has increased its groundless prosecutions with long prison sentences for Uyghurs and other Muslims in recent years in …Human Rights Watch2 days ago

Foreign Ministry Spokesperson Wang Wenbin’s Regular Press Conference on February 26, 2021

CRI: Chinese ambassador to Germany Wu Ken said in an interview with WirtschaftsWoche that China has invited representatives of the EU and its member …MFA China7 hours ago

Chinese electric car start-up Li Auto expects it will sell fewer cars than Nio has been delivering

Li Auto said late Thursday it expected to deliver between 10500 and 11500 cars in the first quarter of the year, or fewer than 4000 vehicles a month.CNBC13 hours ago

Sen. Marsha Blackburn’s Big Idea: Review US-China sister city partnerships to protect against malign influence

Republican Sen. Marsha Blackburn will roll out legislation to require oversight of sister city partnerships between U.S. and Chinese communities to determine …Fox News9 hours ago

Unable to get U.S. vaccines, world turns to Russia and China

As Western countries pursue “America First” and “Europe First” Covid vaccination plans, other leading nations are looking outward in search of commercial and …POLITICO19 hours ago

China will host the 2022 Winter Olympics while accused of genocide. Should the world boycott?

The IOC awarded the 2022 Winter Olympics to Beijing. Now, activists and politicians alike are devising plans to protest arguably the most controversial host city …Yahoo Sports21 hours ago

Explained: What to expect from China’s annual meeting of parliament

Thousands of delegates from across the country will gather in Beijing next week for the annual meeting of parliament, where China will announce goals for 2021 …The Indian Express14 hours ago

China’s ships are getting bigger and more aggressive, and Japan is scrambling to keep up

China’s massive Coast Guard and a new law expanding what it can do have worried its neighbors, maybe none of them more so than Japan.Business InsiderYesterday

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