https://www.scmp.com/rss/331034/feed en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com It is unbelievably sad to see the deterioration of Hong Kong governance by our China-appointed chief executive who seems unable to communicate with or listen to anyone. Her governance appears to mirror the style on the mainland. Hopefully, by the time she has finished her term, the mass of Hong Kong people will not have been imprisoned, as certainly seems to be her administration’s objective. Carrie Lam Cheng Yuet-ngor has also managed to change the operation and image of our police force. She... https://www.scmp.com/comment/letters/article/3086468/trust-hong-kong-government-slips-away-carrie-lam-and-police-embrace?utm_source=rss_feed https://www.scmp.com/comment/letters/article/3086468/trust-hong-kong-government-slips-away-carrie-lam-and-police-embrace?utm_source=rss_feed Fri, 29 May 2020 00:00:09 +0000 The “two sessions” – the annual meetings of China’s National People’s Congress and the Chinese People’s Political Consultative Conference – took place in Beijing in earlier this month. As one of the 36 NPC delegates from Hong Kong, I took part in the proceedings. Another Hong Kong delegate, Peter Wong Man-kong, was taken ill before the meetings opened. He was taken to a hospital in Beijing, then transferred back to Hong Kong. Sadly, he passed away on March 11, just days after the NPC officially... https://www.scmp.com/comment/insight-opinion/article/3003499/politically-polarised-hong-kong-hurtful-response-npc?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/3003499/politically-polarised-hong-kong-hurtful-response-npc?utm_source=rss_feed Thu, 28 Mar 2019 04:00:10 +0000 Beijing is pulling out all the stops to make foreign investors happy. Chief among these is a new foreign investment law being rushed out by China’s legislature to meet the United States’ trade-war demands. There is no doubt the new legislation is a significant step towards protecting the interests of foreign firms and investors. But it remains a work in progress as people still have to be convinced by its effectiveness and Beijing’s willingness to enforce it. The new law aims to address... https://www.scmp.com/comment/insight-opinion/article/3003009/new-law-major-step-protecting-interests-foreign-investors?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/3003009/new-law-major-step-protecting-interests-foreign-investors?utm_source=rss_feed Sat, 23 Mar 2019 14:49:02 +0000 China has just passed a new law that will replace existing regulations on wholly foreign-owned enterprises and on joint ventures involving overseas companies. In response to changing global realities and the need to further open up its economy, the new law includes many stipulations that aim to foster a level playing field for foreign and domestic enterprises.  Forced technology transfer, one of the main issues driving the US-China trade war, will now be banned. The law also emphasises... https://www.scmp.com/comment/insight-opinion/united-states/article/3002701/chinas-new-foreign-investment-law-opens-door?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/united-states/article/3002701/chinas-new-foreign-investment-law-opens-door?utm_source=rss_feed Fri, 22 Mar 2019 18:00:13 +0000 Beijing’s top official in Hong Kong has taken a swipe at the United States, saying Canada’s arrest of Huawei’s chief financial officer last year at Washington’s request only boosted the tech giant’s global fame. Wang Zhimin, director of Beijing’s liaison office in Hong Kong, said on Wednesday that the arrest of Sabrina Meng Wanzhou was actually “the world’s biggest advertisement for Huawei’s 5G technology”. “Now, many of my friends and I are using Huawei phones, and we are proud of our nation’s... https://www.scmp.com/news/hong-kong/politics/article/3002558/beijings-top-official-hong-kong-taunts-washington-over?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3002558/beijings-top-official-hong-kong-taunts-washington-over?utm_source=rss_feed Wed, 20 Mar 2019 12:44:39 +0000 After much consideration, Guangdong garment factory owner Steve Liu reluctantly decided to turn down an order from an overseas client for two million pairs of trousers even after China’s decision to cut taxes to help businesses, highlighting the “cruel world” of small and medium-sized manufacturing. The order of cropped pants would have, in the end, resulted in a loss for Liu as the offer of US$4 (26.86 yuan) per pair was below the 29.3 yuan production cost before tax. “Those boasting that these... https://www.scmp.com/economy/china-economy/article/3002364/chinas-unprecedented-and-sufficient-tax-cut-still-does-not-do?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3002364/chinas-unprecedented-and-sufficient-tax-cut-still-does-not-do?utm_source=rss_feed Tue, 19 Mar 2019 23:15:04 +0000 With Premier Li Keqiang’s press conference, broadcast live nationwide last Friday, the curtain came down on China’s most important annual political event, known as the “two sessions”. To the relief of the local business community watching the yearly gathering of the national legislature and the country’s top political advisory body in Beijing, Li had a reassuring message: China’s new foreign investment law would apply to Hong Kong, Macau and Taiwan. While the premier’s reassurance means a lot to... https://www.scmp.com/comment/insight-opinion/article/3002048/whats-behind-double-benefits-hong-kong-under-chinas-new?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/3002048/whats-behind-double-benefits-hong-kong-under-chinas-new?utm_source=rss_feed Sun, 17 Mar 2019 09:09:38 +0000 If last year’s annual parliamentary session was a powerful demonstration of political force by the pre-eminent Chinese president, this year’s gathering was a pitiful show for China’s powerless premier. Twelve months ago, in a politically charged gathering, China’s rubber-stamp legislature crowned Xi Jinping as a Mao-like deity of Chinese politics, granting him a lifetime mandate and enshrining his political theory – “Xi Jinping Thought”– into the state constitution. This year, the session hit a... https://www.scmp.com/week-asia/opinion/article/3001867/china-chases-economic-growth-pollution-and-poverty-will-take-back?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3001867/china-chases-economic-growth-pollution-and-poverty-will-take-back?utm_source=rss_feed Sun, 17 Mar 2019 03:00:10 +0000 In the preceding two weeks, China’s “two sessions” – the annual meetings of the country’s national legislature and the top political advisory body – have gone through the usual but important routine of hearing and approving Premier Li Keqiang’s annual government work report outlining China’s economic growth targets for the year; the budget; statements by the top judge and the top prosecutor; as well as a new foreign investment law. But judging by the blanket coverage on official media, top on... https://www.scmp.com/week-asia/opinion/article/3001866/chinas-two-sessions-was-xi-worship-straight-out-old-communist?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3001866/chinas-two-sessions-was-xi-worship-straight-out-old-communist?utm_source=rss_feed Sat, 16 Mar 2019 01:30:10 +0000 Chinese Premier Li Keqiang has offered an olive branch to the European Union by saying Beijing will not undermine the bloc’s interests if it reaches a trade deal with the United States. The EU, China’s largest trading partner, released a paper on Tuesday which for the first time labelled China an “economic competitor” and “a systemic rival promoting alternative models of governance”. But during the premier’s annual press conference on Friday, Li said: “China’s trade conflict with US is a... https://www.scmp.com/news/china/diplomacy/article/3001922/chinese-premier-li-keqiang-seeks-assure-eu-it-wont-undermine?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3001922/chinese-premier-li-keqiang-seeks-assure-eu-it-wont-undermine?utm_source=rss_feed Fri, 15 Mar 2019 15:00:10 +0000 China will not “discriminate” between state owned and private companies, with Premier Li Keqiang vowing to roll out a series of measures to alleviate some of the burdens felt by the private sector including lowering the cost of financing. “We will ensure all companies benefit from our administrative streamlining measures. There should be no discrimination,” Li said at the conclusion of the National People’s Congress (NPC) in Beijing on Friday. “Through years of efforts, we have cut the time... https://www.scmp.com/economy/china-economy/article/3001921/china-will-not-discriminate-between-state-and-private?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3001921/china-will-not-discriminate-between-state-and-private?utm_source=rss_feed Fri, 15 Mar 2019 14:30:12 +0000 China has pledged to create more than 11 million new jobs this year – equivalent to the population of Belgium and more than that of Hong Kong – as it tries to ensure social stability amid an economic slowdown and rising tensions with foreign countries. Wrapping up the annual legislative sessions on Friday, Premier Li Keqiang said Beijing was aware of the downward pressure from the economy, with GDP growth slowing to 6.6 per cent last year – its weakest pace since 1990. But he ruled out any... https://www.scmp.com/news/china/politics/article/3001936/li-keqiang-says-its-time-chinese-government-turn-blade-inward?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3001936/li-keqiang-says-its-time-chinese-government-turn-blade-inward?utm_source=rss_feed Fri, 15 Mar 2019 14:00:04 +0000 It was what you’d expect from any professional reporter at one of China’s most high-profile press events. Hundreds of reporters – many of them dressed in red – raising their hands and waving in the hope of catching Premier Li Keqiang’s attention. Except this was China, where everything is carefully arranged and managed. Even though this was my first time attending the presser, I quickly realised that it was pointless to keep raising my hand as all of the questions and answers had been pre-chosen... https://www.scmp.com/news/china/politics/article/3001938/chinas-two-weeks-schmoozing-and-snoozing-end-not-bang-whimper?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3001938/chinas-two-weeks-schmoozing-and-snoozing-end-not-bang-whimper?utm_source=rss_feed Fri, 15 Mar 2019 13:29:13 +0000 The passage of the new foreign investment law shows China is serious about addressing foreign investors’ concerns, as it continues to open up its domestic market, Chinese Premier Li Keqiang said on Friday. But while foreign observers agreed the law is a step in the right direction, concerns remain that it does not go far enough. There is also widespread doubt among the foreign business community that it will be effectively implemented. In total, 2,929 lawmakers at the National People’s Congress... https://www.scmp.com/economy/china-economy/article/3001926/chinese-premier-li-keqiang-says-foreign-investment-law-shows?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3001926/chinese-premier-li-keqiang-says-foreign-investment-law-shows?utm_source=rss_feed Fri, 15 Mar 2019 13:00:08 +0000 Approval among top legislators of China’s highest court appears to have fallen after it was hit by a major scandal that involved a senior judge and the loss of legal papers in a high-profile case. In all, 156 delegates to the National People’s Congress voted on Friday not to approve the annual report submitted by the Supreme People’s Court, up from 138 last year. A majority of 2,725 approved the report while there were 67 abstentions. Approval rates for such reports at the congress – China’s... https://www.scmp.com/news/china/politics/article/3001923/chinas-supreme-court-stung-disappointment-people-congress-has?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3001923/chinas-supreme-court-stung-disappointment-people-congress-has?utm_source=rss_feed Fri, 15 Mar 2019 11:51:22 +0000 Premier Li Keqiang on Friday said economic decoupling from the United States was “not realistic”, while refuting claims that Beijing would ever require Chinese tech companies to spy on foreign governments or individuals. During a news conference in Beijing at the end of the annual legislative meetings, Li admitted relations between China and the US had recently seen “twists and turns”, particularly over trade, but said he hoped ongoing negotiations to resolve the tariff war would deliver... https://www.scmp.com/news/china/diplomacy/article/3001910/li-keqiang-says-decoupling-us-not-realistic-denies-china-would?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3001910/li-keqiang-says-decoupling-us-not-realistic-denies-china-would?utm_source=rss_feed Fri, 15 Mar 2019 10:12:14 +0000 Premier Li Keqiang gave the strongest assurance yet that investors from Hong Kong, Macau and Taiwan would be covered by mainland China’s new foreign investment law on Friday, hours after the legislature approved it. Speaking at a press conference with domestic and international media, Li said: “The foreign investment law may be used as a reference in relation to investments from these three regions. Moreover, the institutional arrangements and actual practices that have long been in place and... https://www.scmp.com/news/hong-kong/politics/article/3001872/premier-li-keqiang-reassures-hong-kong-over-mainland-chinas?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/3001872/premier-li-keqiang-reassures-hong-kong-over-mainland-chinas?utm_source=rss_feed Fri, 15 Mar 2019 08:37:32 +0000 Tax and fees cuts, stabilisation of employment and more social services – these were some of the quick fixes pledged by Chinese Premier Li Keqiang in his annual work report, to address uncertainties in economic outlook and international relations. And in a rare move, not one delegate opposed the report when the National People’s Congress voted on it on Friday. In the ballot on Li’s report, 2,945 delegates voted in favour and three abstained. Although the NPC, China’s highest legislative body, is... https://www.scmp.com/news/china/politics/article/3001807/chinese-premier-li-keqiangs-quick-economic-fixes-passed-zero?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3001807/chinese-premier-li-keqiangs-quick-economic-fixes-passed-zero?utm_source=rss_feed Fri, 15 Mar 2019 04:39:01 +0000 Premier Li Keqiang is expected to address questions ranging from foreign investments to structural reforms at a press conference to mark the end of the annual gathering of China’s parliament today. In the course of the just-concluded two-week session, the National People’s Congress passed a law protecting foreign investment in China, and several proposals to fend off an economic downturn. But uncertainty persists. The foreign investment law has been criticised as vague, and the prospects of... https://www.scmp.com/news/china/politics/article/3001784/all-eyes-chinese-premier-word-trade-talk-annual-presser?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3001784/all-eyes-chinese-premier-word-trade-talk-annual-presser?utm_source=rss_feed Fri, 15 Mar 2019 02:19:18 +0000 China approved its new foreign investment law on Friday, sending the message that Beijing wants to level the playing field for overseas investors and reassure the global community it remains an attractive investment destination. The final draft of foreign investment law was approved by 2929 National People’s Congress lawmakers in the Great Hall of the People, with eight opposing the measures and eight abstaining. The new law will come into effect on January 1, 2020. Beijing rushed the... https://www.scmp.com/economy/china-economy/article/3001780/china-approves-new-foreign-investment-law-designed-level?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3001780/china-approves-new-foreign-investment-law-designed-level?utm_source=rss_feed Fri, 15 Mar 2019 01:53:21 +0000 One of China’s best known businesswomen is sticking to her target of tripling her white goods empire’s annual revenue in the next few years, despite trade tensions abroad and slowing growth at home. Dong Mingzhu, the outspoken chairwoman of Gree Electric and a delegate to the National People’s Congress, said the company still aimed to reach 600 billion yuan (US$89.4 billion) in revenue in the coming years, three times the total achieved in 2018. Dong, 64, “leaked” the sales target she wanted to... https://www.scmp.com/economy/china-economy/article/3001725/forget-trade-war-chinas-home-appliance-queen-insists-gree?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3001725/forget-trade-war-chinas-home-appliance-queen-insists-gree?utm_source=rss_feed Fri, 15 Mar 2019 00:00:15 +0000 China is stepping up its efforts to develop new weaponry ranging from guns to fighter jets to challenge US dominance, according to Chinese military officials. The effort is in line with Beijing’s drive to modernise its military and improve combat readiness as the armed forces prepare for a high-profile show of strength later this year in a parade to mark the 70th anniversary of the founding of the People’s Republic. “We are now more focused on boosting indigenous research and development... https://www.scmp.com/news/china/military/article/3001738/china-stepping-efforts-develop-military-technology-challenge-us?utm_source=rss_feed https://www.scmp.com/news/china/military/article/3001738/china-stepping-efforts-develop-military-technology-challenge-us?utm_source=rss_feed Thu, 14 Mar 2019 15:00:06 +0000 With just one year left to turn the economically troubled southern island province of Hainan – known as China’s Hawaii – into a world-class free trade zone, its officials have been busy during Beijing’s 11-day National People’s Congress, the country’s annual rubber-stamp parliamentary sessions. “We are doing three days’ work in one day for the opportunities [arising from the free trade zone plan],” Liu Cigui, Hainan’s Communist Party boss, said in a provincial panel meeting last week which was... https://www.scmp.com/news/china/politics/article/3001563/china-dream-hainan-island-hi-tech-paradise-remains-work?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3001563/china-dream-hainan-island-hi-tech-paradise-remains-work?utm_source=rss_feed Thu, 14 Mar 2019 00:02:18 +0000 Any effort by Taiwan to resist the “historic trend” towards unification is doomed to failure since Beijing is in a much stronger position to realise its goals, the head of a semi-official Chinese body to handle relations with the island said on Wednesday. Zhang Zhijun, the president of the Association for Relations Across the Taiwan Strait, told reporters at the annual legislative session in Beijing that reunification was inevitable as China becomes stronger. “The Taiwan issue happened because... https://www.scmp.com/news/china/diplomacy/article/3001575/taiwan-cant-resist-historic-trend-towards-unification-says?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3001575/taiwan-cant-resist-historic-trend-towards-unification-says?utm_source=rss_feed Wed, 13 Mar 2019 23:00:13 +0000 China’s slowing growth and its trade war with the United States have taken the air out of its bubbling art market but the slowdown would be beneficial in the long run, according to an artist in Beijing for the annual gathering of the country’s top advisory body. On Wednesday on the sidelines of the Chinese People’s Political Consultative Conference, painter and CPPCC member Chen Xiao said that economic uncertainty had affected buyers’ sentiment but had also taken many speculators out of the... https://www.scmp.com/news/china/politics/article/3001581/trade-war-united-states-takes-air-out-chinese-art-market-bubble?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3001581/trade-war-united-states-takes-air-out-chinese-art-market-bubble?utm_source=rss_feed Wed, 13 Mar 2019 14:24:00 +0000 China’s new foreign investment law has received a lukewarm response from a leading US business group, which complained about a lack of consultation and detail. Beijing hoped that the new law would help improve its image among global investors and also help address some of the concerns at the heart of the trade war with the US, but the American Chamber of Commerce in China said that the provisions were “still quite general” and did not go into specifics. The group continued that “in principle... https://www.scmp.com/economy/china-economy/article/3001577/chinas-new-foreign-investment-law-too-vague-says-us-business?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3001577/chinas-new-foreign-investment-law-too-vague-says-us-business?utm_source=rss_feed Wed, 13 Mar 2019 14:19:40 +0000 Communist Party leaders are going to allow market forces to play a “decisive role” in allocating resources. That is from a Post report after the third plenum of the Central Committee in 2013 that was supposed to set the direction for China’s development over the next decade. But giving private enterprise a bigger role has proved easier said than done. Testament to that, five years later, emerged in the current session of the National People’s Congress. Premier Li Keqiang promised tax relief and... https://www.scmp.com/comment/insight-opinion/article/3001579/banks-need-change-their-attitude-towards-private-enterprise?utm_source=rss_feed https://www.scmp.com/comment/insight-opinion/article/3001579/banks-need-change-their-attitude-towards-private-enterprise?utm_source=rss_feed Wed, 13 Mar 2019 14:16:58 +0000 China’s biggest political advisory body has been told to stick to the directives of the Communist Party to confront risks and tasks Beijing called “unprecedented”. “[We] should treat studying the political thoughts of Xi Jinping as the most important task of all, and consolidate the self-confidence in our political system,” Wang Yang, head of the China People’s Political Consultative Conference, said at the closing ceremony of the body’s annual session on Wednesday. “[We] must unite our thoughts... https://www.scmp.com/news/china/politics/article/3001545/wang-yang-top-chinese-adviser-urges-faith-partys-judgment-face?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3001545/wang-yang-top-chinese-adviser-urges-faith-partys-judgment-face?utm_source=rss_feed Wed, 13 Mar 2019 11:30:09 +0000 One of the main themes of this year’s “two sessions” meetings of the country’s legislature and top political advisory body has been renewed support for the private sector, seen as crucial to the governments hopes of pulling the economy out if its current slump. But the private sector, which accounts for more than 60 per cent of China’s gross domestic product (GDP) growth and creates 90 per cent of new jobs, has suffered in recent years from the government’s deleveraging campaign aimed at... https://www.scmp.com/economy/china-economy/article/3001507/china-about-bring-shadow-banking-back-out-darkness-kick-start?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3001507/china-about-bring-shadow-banking-back-out-darkness-kick-start?utm_source=rss_feed Wed, 13 Mar 2019 10:49:38 +0000 Red-faced argument is a sign of good policymaking, at least according to an oft-cited slogan of the Chinese Communist Party. In reality, however, the public rarely see meaningful policy debate in China. The country’s political elite instead like to keep real discussion behind closed doors and to project a public image of unity. To many people, Beijing’s annual meetings of its policymaking bodies – rubber-stamp legislature the National People’s Congress (NPC) and advisory body the Chinese... https://www.scmp.com/news/china/politics/article/3001377/why-there-more-dissent-inside-beijings-legislative-two-sessions?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3001377/why-there-more-dissent-inside-beijings-legislative-two-sessions?utm_source=rss_feed Tue, 12 Mar 2019 22:45:11 +0000 In recent years there has been a wave of Chinese electric vehicle makers – from Byton to Nio to Xpeng – looking to take on Elon Musk’s Tesla, encouraged by government support for a move away from the internal combustion engine. Now that the Palo Alto-based giant has slashed prices ahead of commencing local production later this year in China, people are asking if the burgeoning crowd of domestic challengers are going to run out of road. It has become such a hot topic that even Miao Wei, China’s... https://www.scmp.com/tech/start-ups/article/3001352/are-chinese-electric-car-start-ups-doomed-after-teslas-big-price?utm_source=rss_feed https://www.scmp.com/tech/start-ups/article/3001352/are-chinese-electric-car-start-ups-doomed-after-teslas-big-price?utm_source=rss_feed Tue, 12 Mar 2019 22:00:09 +0000 China’s top official in Xinjiang on Tuesday said the “vocational training centres” in the far western border region could eventually be phased out, as Beijing comes under growing international pressure over the mass detention camps. “Generally speaking, we will have fewer and fewer people at these centres and if one day the society no longer needs them, then these training centres will gradually disappear,” Shohrat Zakir, chairman of the Xinjiang government, said during a panel session at the... https://www.scmp.com/news/china/politics/article/3001415/china-says-it-will-eventually-phase-out-vocational-training?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3001415/china-says-it-will-eventually-phase-out-vocational-training?utm_source=rss_feed Tue, 12 Mar 2019 16:54:08 +0000 The Chinese Supreme Court’s senior judge and top prosecutor have pledged to tackle illegal financial schemes after official figures showed that the number of criminal trials for pyramid scams alone rose tenfold last year. Financial scams have spread rapidly across China in the past decade and victims of the schemes, which offer unrealistically high returns, often include the most vulnerable members of society such as low-income migrant workers, the elderly and the unemployed. Pyramid schemes... https://www.scmp.com/news/china/politics/article/3001413/chinese-courts-pledge-increase-pressure-financial-crime-after?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3001413/chinese-courts-pledge-increase-pressure-financial-crime-after?utm_source=rss_feed Tue, 12 Mar 2019 15:33:46 +0000 China’s top judge said the nation’s courts handled more intellectual property rights cases last year – a key area of tension in trade relations between Washington and Beijing. Zhou Qiang, chief justice of the Supreme People’s Court, said in his work report delivered at the annual legislative sessions on Tuesday that 288,000 first instance IP-related cases had been concluded in 2018 – up 41.8 per cent from a year ago. It was the second consecutive year the number of IPR cases processed by the... https://www.scmp.com/news/china/politics/article/3001407/jump-number-intellectual-property-cases-handled-chinas-courts?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3001407/jump-number-intellectual-property-cases-handled-chinas-courts?utm_source=rss_feed Tue, 12 Mar 2019 15:00:08 +0000 Hong Kong’s newly appointed securities regulator on Tuesday vowed to work more closely with his mainland Chinese counterpart following their first meeting, as the city’s bourse seeks to attract mainland capital and companies to strengthen its global influence. Tim Lui Tim-leung, who became the chairman of the Securities and Futures Commission (SFC) in October, visited the China Securities Regulatory Commission (CSRC) in Beijing and met with chairman Yi Huiman for the first time on Monday, during... https://www.scmp.com/business/markets/article/3001396/hong-kong-stock-exchange-wins-collaboration-pledge-securities?utm_source=rss_feed https://www.scmp.com/business/markets/article/3001396/hong-kong-stock-exchange-wins-collaboration-pledge-securities?utm_source=rss_feed Tue, 12 Mar 2019 13:30:08 +0000 Beijing will tighten the military and diplomatic squeeze on Taiwan if the island’s independence-leaning government refuses to acknowledge the one-China principle, a government adviser warned on Tuesday. Li Yihu, a National People’s Congress delegate and head of Peking University’s Institute of Taiwan Studies, said on the sidelines of the annual legislative gathering in Beijing, that the island’s President Tsai Ing-wen was deluded and would only lead the island down a dead-end and intensify... https://www.scmp.com/news/china/diplomacy/article/3001392/beijing-will-increase-pressure-taiwan-if-it-rejects-one-china?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3001392/beijing-will-increase-pressure-taiwan-if-it-rejects-one-china?utm_source=rss_feed Tue, 12 Mar 2019 13:30:04 +0000 Chinese officials will be obliged to protect commercially confidential information they obtain from overseas businesses, according to the latest draft of China’s new foreign investment law. Delegates to the National People’s Congress (NPC) in Beijing were presented with the new version on Tuesday, after last week’s version received a lukewarm response from foreign businesses and academics in China. Provisions have been added to the legislation which make clear that government employees must keep... https://www.scmp.com/economy/china-economy/article/3001393/we-will-keep-your-secrets-china-promises-foreign-companies?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3001393/we-will-keep-your-secrets-china-promises-foreign-companies?utm_source=rss_feed Tue, 12 Mar 2019 12:55:07 +0000 China’s economy “has achieved a good start” to 2019 despite a recent drop in sales of cars and mobile phones, according to the country’s statistics chief. Mobile phone sales plunged 19.9 per cent in February, while total vehicle sales fell for an eighth straight month in the world’s biggest car market. “According to data available as of now, the Chinese economy has achieved a good start,” said Ning Jizhe, the head of National Bureau of Statistics (NBS) on Tuesday, citing stable industrial... https://www.scmp.com/economy/china-economy/article/3001325/china-enjoys-good-start-2019-despite-slumping-car-and-mobile?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3001325/china-enjoys-good-start-2019-despite-slumping-car-and-mobile?utm_source=rss_feed Tue, 12 Mar 2019 10:00:08 +0000 The senior Chinese official who oversees state-sanctioned Christian churches has pledged to rid the faith in China of any Western “imprint” and called for further “Sinicisation” of religion. Xu Xiaohong, chairman of the National Committee of the Three-Self Patriotic Movement (TSPM), a government-controlled body that runs state-approved Protestant churches, on Monday attacked what Beijing perceived as “Western influence”. “[We] must recognise that Chinese churches are surnamed ‘China’, not ‘the... https://www.scmp.com/news/china/politics/article/3001240/official-head-chinas-protestant-churches-says-religions-must-be?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/3001240/official-head-chinas-protestant-churches-says-religions-must-be?utm_source=rss_feed Tue, 12 Mar 2019 07:00:11 +0000 China’s environment minister said on Monday that while the country’s air quality has improved, the situation is still “grim” and the hardest challenges still need to be tackled. Speaking at a press conference organised by the National People’s Congress on Monday, Li Ganjie, the Minister of Ecology and Environment, said the number of good weather days in 338 major cities rose to 79.3 per cent in 2018, up 1.3 percentage points from a year ago. In the same period, the average concentration of PM2.5... https://www.scmp.com/news/china/politics/article/2189598/china-still-facing-uphill-struggle-fight-against-pollution-warns?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/2189598/china-still-facing-uphill-struggle-fight-against-pollution-warns?utm_source=rss_feed Mon, 11 Mar 2019 15:30:00 +0000 Chinese private companies are being held back by stereotypes that paint them as less reliable than state-owned enterprises when it comes to repaying their debts, fulfilling their contractual obligations or attracting talent, the boss of a pharmaceutical company has warned. Yang Wenlong, chairman of the private Renhe Group, said these prejudices made it harder for private companies to get loans, adding that this unfair treatment was a consequence of the implicit guarantees the government gave to... https://www.scmp.com/news/china/politics/article/2189585/chinese-private-firms-being-held-back-prejudice-result?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/2189585/chinese-private-firms-being-held-back-prejudice-result?utm_source=rss_feed Mon, 11 Mar 2019 14:32:38 +0000 The head of China’s largest influenza vaccine supplier has urged mainland parents not to rush to Hong Kong for shots, claiming they might not be as safe as people expect. An Kang, a National People’s Congress deputy and chairman of Hualan Biological Engineering – which supplied 80 per cent of flu vaccines on the mainland last winter – said there was no significant difference between domestic products and overseas brands. Jiao Hong, head of the National Medical Products Administration, China’s... https://www.scmp.com/news/china/society/article/2189588/chinese-parents-told-vaccines-generally-safe-after-scandals?utm_source=rss_feed https://www.scmp.com/news/china/society/article/2189588/chinese-parents-told-vaccines-generally-safe-after-scandals?utm_source=rss_feed Mon, 11 Mar 2019 12:37:56 +0000 China should increase supervision and punishment of government officials who manipulate statistics to improve the credibility of its economic data, according to a top lawmaker. Analysts have long had doubts over whether official Chinese government economic data accurately reflects what is going on in the economy. A recent study led by several researchers from the Chinese University of Hong Kong found that China overestimated its nominal and real growth rates by about 2 full percentage points on... https://www.scmp.com/economy/china-economy/article/2189548/china-must-punish-officials-cooking-books-improve-data?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/2189548/china-must-punish-officials-cooking-books-improve-data?utm_source=rss_feed Mon, 11 Mar 2019 11:00:21 +0000 Beijing has called on the private sector to beef up its investment in basic research, which is seen as a foundation for China to cut its reliance on foreign technology and achieve its ambition of becoming a global tech superpower. China’s Ministry of Science and Technology pledged to encourage local governments and enterprises to fund more projects focused on scientific research and development in spite of a slowing economy. “China will invest more in basic research,” said Science and Technology... https://www.scmp.com/tech/policy/article/2189445/china-reiterates-it-will-step-investment-basic-science-and-call-industry?utm_source=rss_feed https://www.scmp.com/tech/policy/article/2189445/china-reiterates-it-will-step-investment-basic-science-and-call-industry?utm_source=rss_feed Mon, 11 Mar 2019 02:37:36 +0000 China’s spending on science and research funding is set to continue rising to 2.5 per cent of its GDP this year, as the nation seeks to catch up on the technology front amid an economic downturn. The funding target was revealed in a meeting of the country’s peak advisory body, the Chinese People’s Political Consultative Conference, on Sunday. It means China will reach its budget goal for research and development a year ahead of schedule, though scientists say they still do not get enough funding... https://www.scmp.com/news/china/science/article/2189427/chinas-funding-science-and-research-reach-25-cent-gdp-2019?utm_source=rss_feed https://www.scmp.com/news/china/science/article/2189427/chinas-funding-science-and-research-reach-25-cent-gdp-2019?utm_source=rss_feed Sun, 10 Mar 2019 14:03:33 +0000 China’s central bank vice-governor has some advice for Chinese men thinking of popping the question: make sure you have a clean credit record. That’s because more Chinese mothers are asking for financial details before they give permission for their daughters to get married, according to Chen Yulu. “Now, future mothers-in-law will just say, ‘Show me your PBOC credit record’,” Chen said on the sidelines of the annual legislative sessions in Beijing on Sunday. He said this was one example of how... https://www.scmp.com/news/china/society/article/2189423/chinese-central-bank-gives-advice-how-win-over-future-mother-law?utm_source=rss_feed https://www.scmp.com/news/china/society/article/2189423/chinese-central-bank-gives-advice-how-win-over-future-mother-law?utm_source=rss_feed Sun, 10 Mar 2019 13:30:53 +0000 China has made a clear effort over the last four years to maintain a stable exchange rate in the face of sustained downward pressure on the yuan, People’s Bank of China governor Yi Gang said on Sunday. Yi also said there remains room to cut banks’ reserve requirement ratio, though that room is smaller than it was in the past. “Since the beginning of 2015, the [yuan] has been facing depreciation pressure from various external and domestic factors,” Yi said during the National People’s Congress... https://www.scmp.com/economy/china-economy/article/2189399/china-has-made-clear-effort-keep-yuan-exchange-rate-stable?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/2189399/china-has-made-clear-effort-keep-yuan-exchange-rate-stable?utm_source=rss_feed Sun, 10 Mar 2019 08:23:08 +0000 China might allow a return of some shadow banking operations as long as their lending “benefits the real economy” and does not support speculation, according to a senior banking regulator. The move could relieve some, if not most, of the funding squeeze facing smaller private firms but would also be an step back from the government’s deleveraging campaign to reduce debt and risky lending to help stabilise growth. “We need to have an accurate understanding of shadow banking. For those... https://www.scmp.com/economy/china-economy/article/2189394/china-mulls-reprieve-some-shadow-bankers-stop-fall-growth?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/2189394/china-mulls-reprieve-some-shadow-bankers-stop-fall-growth?utm_source=rss_feed Sun, 10 Mar 2019 08:05:30 +0000 How a city manages its land and how it deals with foreign fugitives do not generally overlap. But in Hong Kong, enemies made in the former field appear to have come back to bite the government in the latter. Because business heavyweights’ rare open criticism of the local government’s plan to allow extraditions to mainland China, sources have said, was fuelled by anger over its decision to build houses on a prestigious golf course where many of them play. The leaders were also showing that their... https://www.scmp.com/news/hong-kong/politics/article/2189389/how-angry-golfers-hit-hong-kongs-extradition-plan-rough?utm_source=rss_feed https://www.scmp.com/news/hong-kong/politics/article/2189389/how-angry-golfers-hit-hong-kongs-extradition-plan-rough?utm_source=rss_feed Sun, 10 Mar 2019 06:47:30 +0000 Beijing will not put off reunification with Taiwan forever but it hopes to bring the self-ruled island back into the China fold through peaceful means, according to a National People’s Congress delegate. In an interview, Cai Peihui described Chinese President Xi Jinping as “an aspiring and visionary leader” and said “he will not allow [the reunification agenda] to be postponed indefinitely”. Cai is one of 13 members of the Taiwan delegation – all of whom have a connection to the island but do... https://www.scmp.com/news/china/politics/article/2189360/beijing-wont-allow-taiwan-reunification-be-postponed?utm_source=rss_feed https://www.scmp.com/news/china/politics/article/2189360/beijing-wont-allow-taiwan-reunification-be-postponed?utm_source=rss_feed Sun, 10 Mar 2019 03:01:25 +0000