Archives of “Global Times” tag

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China will not approve current agreement to sell TikTok’s US operations – report

  
  Analysis
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Global Times report

From the Global Times’ Hu Xijin:
Based on what I know, Beijing won’t approve current agreement between ByteDance, TikTok’s parent company, and Oracle, Walmart, because the agreement would endanger China’s national security, interests and dignity.
Hu is a mouthpiece for China so this is a strong hint. It was just starting to look like the US would approve it.
Beijing has decided that the US can pull the plug. They might be angling to punish US companies in response.

China health official says China has officially launched emergency use of COVID19 vaccines

  
  Analysis
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Coronavirus weekend news – Chinese media, Global Times, reports via Twitter that an official at the country’s National Health Commission:

  • says China has officially launched emergency use of a vaccine
  • the vaccine has been in clinical trial since July 22
GT also report on a more than 20,000 person phase III clinical trial in the UAE of Sinopharm’s COVID19 vaccine
  • has shown a high level of safety
  • efficacy is currently under observation
Coronavirus weekend news - Chinese media, Global Times, reports via Twitter that an official at the country's National Health Commission:
Both of the GT items are tweets only, not accompanied by further articles for more information.
There is one more that is accompanied by an article – saying that China’s first recombinant protein COVID-19 vaccine made from insect cells has been approved for clinical trials by the National Medical Products Administration.
  • vaccine is being developed by the State Key Laboratory of Biological Therapy of Sichuan University affiliated West China Hospital
  • vaccine uses insect cells to multiply in the culture medium and introduces the gene of COVID-19 into insect cells, which means the cell can be used as a factory to produce high-quality recombinant vaccine proteins and purify them for refinement.
  • vaccine was tested on monkeys and other animals, and was found to have a good protective effect against COVID-19 infection, with no obvious side effects
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Given the history of how markets view vaccine news (generally positively) this threefer from the GT might be a boost for sentiment on Monday. There is still plenty of time left over the weekend for less than favourable stories to develop, stay tuned.

China’s Global Times says “New cold war will not stop US decline”

  
  Analysis
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An opinion piece in state news organ Global Times

  • What is deeply worrying is the unpredictability, volatility and desperation of Trump. Driven by his fear of losing the presidential election in November, Trump sees nothing is off the table as far as he is concerned. Anything is possible. 
Of course, there is plenty more, link here
Over the weekend Pompeo spoke of further action against Chinese firms:
  • US to widen action against Chinese tech groups beyond TikTok

An opinion piece in state news organ Global TimesI think I am going to have find a cartoon of Xi and Trump engaged in a more violent sport rather than this tame effort.

Hu Xijin of China Financial Times lobs some warnings to the US way

  
  Analysis
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US closes China’s Houston consulate

The US announced today the closing of China’s Houston consulate.  Now China Global Times is lobbing some warning the US way.
US closes China's Houston consulate

The warm and fuzzy feelings between US and China are not all that warm and fuzzy needless to say.  It is hard to see things getting better.

Heavy rainfall in China – 433 rivers have flooded

  
  Analysis
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China’s ministry of water resources (via Global Times)

  • 433 rivers have flooded in China
  • 33 rivers have recorded their highest level in history
Further (Reuters):
  • China raised its flood response alert on Sunday to the second highest level
  • heavy rain in regions along the Yangtze River
  • eastern provinces of Jiangsu and Jiangxi among the worst hit

Global Times editor: China considering to put drafters of HK bill on no-entry list

  
  Analysis
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A tweet by Global Times’ editor-in-chief, Hu Xijin

“Based what I know, out of respect for President Trump, the US and its people, China is considering to put the drafters of the Hong Kong Human Rights and Democracy Act on the no-entry list, barring them from entering Chinese mainland, Hong Kong and Macao.”

I reckon that is probably one part of possible retaliatory measures but in any case, it should be viewed as a rather soft one – but the spin on the response above is that it is done “out of respect for Trump and the US”.
As such, this leads me to believe that the signing of the HK bill isn’t quite putting the “Phase One” deal in jeopardy just yet.

Hu Xijin: US can’t decide when and how to end trade war

  
  Analysis
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Comments from the Global Times editor

Tweet from Hu Xijin, who is often viewed as a mouthpiece for Beijing:
The US has the upper hand in US-China trade war, which allows it to decide when to end the trade war, but far from enough for it to decide how to end the trade war. The US side wants both, then it needs to change an adversary.
The language is a bit broken but he’s saying the US is pushing too hard but also says the US has the upper-hand, which is a bit conciliatory and constructive.

Global Times editor: US has turned Hong Kong into the focus of China-US competitiion

  
  Analysis
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A tweet by Global Times’ editor-in-chief, Hu Xijin

“The US has turned HK into the focus of China-US competition. It’s all the people in Hong Kong, including foreigners and foreign companies that suffer. The mainland only feels limited pain. Beijing has no reason to back off on issue of sovereignty, and let HK be at US’ disposal.”

He’s making the above comment in relation to the bill that was passed by the US Senate earlier today, in which China views as interference to the situation in Hong Kong.
All this feeds into the trade rhetoric and if anything, it creates yet another potential barrier for both sides to try and get towards a “Phase One” trade deal.

China Global editor: US and China must simultaneously move on tariffs

  
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Hu Xijin editor of the China Global Times

Hu Xijin of the China Global Times and often thought as a sounding board for the China government, is tweeting:

To reach a deal, China and US must simultaneously remove the existing additional tariffs at the same ratio, which means that tariffs to be removed should be in proportion to how much agreement has been reached

The horse jockeying may be starting up again as hopes for Phase I deal gets closer.
The pattern seems to be that as a deal gets closer, there are more demands and assurances.
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