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Macro

October 28, 2023

You talkin’ to me?

DC and Beijing are chatting more and more. This week, the US Treasury convened with Chinese financial regulators for the first meetings of the Economic Working Group (EWG) and the Financial Working Group (FWG). Some context: The groups were established during Treasury Secretary Janet Yellen’s July t… Username Password Remember Me Forgot Password

DC and Beijing are chatting more and more.
This week, the US Treasury convened with Chinese financial regulators for the first meetings of the Economic Working Group (EWG) and the Financial Working Group (FWG).
Some context: The groups were established during Treasury Secretary Janet Yellen’s July t...

sources

US Treasury: READOUT: First Meeting of the Economic Working Group Between the United States and the People’s Republic of China

MoF: 中美经济工作组举行第一次会议

US Treasury: READOUT: First Meeting of the Financial Working Group Between the United States and the People’s Republic of China

October 28, 2023

Euro trippin’

European automakers are pivoting away from producing their own electric vehicles (EVs) in China, opting to buy into Chinese brands instead. The latest: On Thursday, Stellantis announced a EUR 1.5 billion deal to secure a 21.2% stake (and two board seats) in Chinese EV startup Leapmotor. That’s just…

European automakers are pivoting away from producing their own electric vehicles (EVs) in China, opting to buy into Chinese brands instead.
The latest: On Thursday, Stellantis announced a EUR 1.5 billion deal to secure a 21.2% stake (and two board seats) in Chinese EV startup Leapmotor.

That's just...

sources

Stellantis: Stellantis to Become a Strategic Shareholder of Leapmotor with €1.5 Billion Investment and Bolster Leapmotor’s Global Electric Vehicle Business

Bloomberg: Stellantis Plugs China Hole With $1.1 Billion Leapmotor Deal

Bloomberg: Stellantis to Sell China Automotive Assets After Jeep Move

October 28, 2023

Cableblocking China

The US and Australia just placed another chess piece on the sea floor. On Wednesday, Google announced it will build two new undersea fiber optic cables that connect Australia and the US to Fiji and French Polynesia under the “South Pacific Connect Initiative”. Australia will pitch in USD 50 mill…

The US and Australia just placed another chess piece on the sea floor.
On Wednesday, Google announced it will build two new undersea fiber optic cables that connect Australia and the US to Fiji and French Polynesia under the "South Pacific Connect Initiative".

Australia will pitch in USD 50 mill...

sources

White House: FACT SHEET: Delivering on the Next Generation of Innovation and Partnership with Australia

Google: Connecting the South Pacific with new subsea cables

October 27, 2023

Checks and balances

The Supreme People’s Procuratorate (SPP) is pitching in to support the private sector. On Monday, the SPP released 23 measures to bolster the private economy. The Supreme People’s what? The SPP is the highest prosecutorial body in China, responsible for prosecuting criminal cases and investigating …

The Supreme People's Procuratorate (SPP) is pitching in to support the private sector.
On Monday, the SPP released 23 measures to bolster the private economy.
The Supreme People's what?

The SPP is the highest prosecutorial body in China, responsible for prosecuting criminal cases and investigating ...

sources

Supreme People's Procuratorate: 最高人民检察院关于全面履行检察职能推动民营经济发展壮大的意见

October 27, 2023

New ministers of finance and science appointed

It’s official. On October 24, Xi Jinping signed a presidential order to approve the legislature’s (NPCSC) decision to appoint: Former Shanxi Party secretary Lan Fo’an as Minister of Finance, replacing Liu Kun (66) Former deputy Party secretary of the Chinese Academy of Sciences Yin Hejun as Minster…

It’s official.
On October 24, Xi Jinping signed a presidential order to approve the legislature’s (NPCSC) decision to appoint:

Former Shanxi Party secretary Lan Fo’an as Minister of Finance, replacing Liu Kun (66)
Former deputy Party secretary of the Chinese Academy of Sciences Yin Hejun as Minster...

sources

Xinhua: （受权发布）中华人民共和国主席令（第十四号）

October 27, 2023

October tech and trade war roundup

To view the roundup as a PDF, click here. Welcome to another edition of Trivium’s US-China tech and trade war roundup. In these monthly reports, we break down key geopolitical developments shaping the economic relationship between Beijing and Washington. Here’s where things stand as of late-October….

To view the roundup as a PDF, click here.
Welcome to another edition of Trivium’s US-China tech and trade war roundup. In these monthly reports, we break down key geopolitical developments shaping the economic relationship between Beijing and Washington.
Here’s where things stand as of late-October....

Download PDF

October 27, 2023

Big backyard

Beijing wants the US to butt out of its backyard. That’s our takeaway from Premier Li Qiang’s remarks to the Shanghai Cooperation Organization (SCO) heads of government meeting in Bishkek, Kyrgyzstan on Thursday. Li told those gathered that: “The original intention of the SCO…is to ensure that r…

Beijing wants the US to butt out of its backyard.
That's our takeaway from Premier Li Qiang's remarks to the Shanghai Cooperation Organization (SCO) heads of government meeting in Bishkek, Kyrgyzstan on Thursday.
Li told those gathered that:

"The original intention of the SCO...is to ensure that r...

sources

CCTV: [视频]李强出席上海合作组织成员国政府首脑（总理）理事会第二十二次会议

Xinhua: Interview: Expansion of SCO broadens its global agenda, says expert

China Daily: Russian PM calls for continued resilience-building in SCO

October 27, 2023

Mr. Wang goes to Washington

There’s more US-China dialogue happening than you can shake a stick at. The latest: Top diplomat Wang Yi met with US Secretary of State Antony Blinken in Washington on Thursday. Wang is scheduled to have another meeting with Blinken as well as meetings with National Security Advisor Jake Sullivan a…

There’s more US-China dialogue happening than you can shake a stick at.
The latest: Top diplomat Wang Yi met with US Secretary of State Antony Blinken in Washington on Thursday.

Wang is scheduled to have another meeting with Blinken as well as meetings with National Security Advisor Jake Sullivan a...

sources

US State Department: Secretary Antony J. Blinken and Chinese Director of the CCP Foreign Affairs Commission and Foreign Minister Wang Yi Before Their Meeting

US State Department: Secretary Blinken’s Meeting with People’s Republic of China Director of the Chinese Communist Party (CCP) Central Foreign Affairs Commission and Foreign Minister Wang Yi

Reuters: China's Wang to Blinken: 'In-depth' dialogue can steady ties

October 27, 2023

Li Keqiang passes away unexpectedly

In the early hours Friday, former Premier Li Keqiang, died after suffering a heart attack while swimming. Nobody saw this coming. Li, 68, looked in fine fettle in August when he made a public appearance at the Mogao Caves in Gansu. The Party has yet to publish Li’s obituary, showing that they did n…

In the early hours Friday, former Premier Li Keqiang, died after suffering a heart attack while swimming.
Nobody saw this coming.

Li, 68, looked in fine fettle in August when he made a public appearance at the Mogao Caves in Gansu.
The Party has yet to publish Li's obituary, showing that they did n...

sources

Xinhua: （受权发布）中共中央全国人大常委会国务院全国政协讣告李克强同志逝世

October 27, 2023

Politburo doesn’t set date for Third Plenum

The Politburo held its monthly meeting on Friday. The meeting was expected to set a date for the all-important Third Plenum, which will set economic reform priorities for the next five years and beyond. But Friday’s meeting did not set a date for the plenum. This means that the plenum will likely no…

The Politburo held its monthly meeting on Friday.
The meeting was expected to set a date for the all-important Third Plenum, which will set economic reform priorities for the next five years and beyond.
But Friday's meeting did not set a date for the plenum. This means that the plenum will likely no...

sources

Xinhua: 中共中央政治局召开会议

October 27, 2023

Quick Take | Belt and Road brings it home (to the place where it belongs)

The Belt and Road (BRI) is 10 years old – and just getting warmed up. In the unlikely event that you missed it, the Third Belt and Road Forum (BRF) was held in Beijing from October 17 to 18. It was a big deal… The flagship event of Xi Jinping’s flagship initiative pulled out all… Read More »

The Belt and Road (BRI) is 10 years old – and just getting warmed up.
In the unlikely event that you missed it, the Third Belt and Road Forum (BRF) was held in Beijing from October 17 to 18.
It was a big deal… The flagship event of Xi Jinping's flagship initiative pulled out all the stops to accommo...

sources

Gov.cn: (BRF2023) Full text of Xi Jinping's keynote speech at 3rd Belt and Road Forum for Int'l Cooperation

SCIO: The Belt and Road Initiative: A Key Pillar of the Global Community of Shared Future

October 27, 2023

Gou away

On Monday, we told you that authorities in multiple provinces have launched tax and land use reviews into several of Foxconn’s China subsidiaries. We’ve been trying to suss out the real reason behind the probe. Recap: Some signals have indicated that it could be a politically motivated response…

On Monday, we told you that authorities in multiple provinces have launched tax and land use reviews into several of Foxconn's China subsidiaries.

We've been trying to suss out the real reason behind the probe.

Recap: Some signals have indicated that it could be a politically motivated response...

sources

Yicai: 富士康旗下部分企业被调查，国台办回应

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