Is the Xi-Biden summit delaying the Communist Party’s annual meeting?

China's tech drain can't be stopped but can be delayed, says expert; Fosun Pharma to deliver China-made surgical robots in key medical milestone

Welcome to this issue of The China Brief. Today is November 12, 2023. Here at The China Brief, we bring you the latest news on China's politics, economy, and society from global media sources, along with exclusive expert analysis. If you find our content helpful, please subscribe to our newsletter.

Is the Xi-Biden summit delaying the Communist Party’s annual meeting?

South China Morning Post

China's Communist Party is set to convene the third plenum, a key gathering to set out a basic path of economic reforms, in December at the earliest, following the China-US summit next week. The delay is the first since 1978, when the country ushered in economic reforms. It is believed the delay may be due to the need to find ways to reignite growth in the sluggish economy as the international environment becomes more hostile. The delay also comes amid a series of unexpected personnel changes in the cabinet. The third plenum is the most important policymaking assembly. The delay could be disappointing to investors, given the focus of past third plenums on economic reform.

Protocol gurus for Xi-Biden meeting face logistical nightmares, other hurdles

South China Morning Post

The upcoming meeting between US President Joe Biden and Chinese leader Xi Jinping will likely be light on personal anecdotes and instead focus on serious issues, according to analysts. In the past, Biden has often relied on his personal relationship with Xi, but experts believe this will not be a major factor in the San Francisco meeting. The Chinese foreign minister, who is usually the primary point of contact between the US and China, disappeared without explanation prior to the meeting, leading to concerns about the relationship between the two countries. There have also been several disputes, including a Chinese surveillance balloon being shot down by US jets, military activity around Taiwan, and a ship collision with the Philippines. Despite these issues, the two countries have managed to put diplomacy back on track with a series of senior visits. The meeting is expected to last at least three hours and will take place at an off-site location.

China's tech drain can't be stopped but can be delayed, says expert

Nikkei Asia

The tightening of exports of critical technologies to China by Europe, Japan and the US has not stopped the outflows, according to a Nikkei report. Professor Heigo Sato of Takushoku University, an expert on export controls, explained that it is difficult to prevent technology drain completely, but companies need to delay access to important technologies as much as possible. Japan's export controls are among the strictest in the world, however, it is difficult for exporters to fully examine every component contained in a machine tool. Sato suggests Japan should find allies to increase cooperation on export controls.

Fosun Pharma to deliver China-made surgical robots in key medical milestone

South China Morning Post

Fosun International's Shanghai-based healthcare division has completed its first locally-built Da Vinci surgical robot. The robot has been fully built and completed for an undisclosed client over a year after Fosun Pharma joined forces with California-based Intuitive Surgical to develop a research and production base in Shanghai. Fosun Pharma announced at the China International Import Expo that it had delivered 360 imported Da Vinci robots to local clients and said it had further orders for local production.

Ukraine Recap: Officer Linked in Reports to Nord Stream Sabotage

Yahoo US

A senior Ukrainian military officer with close ties to the country's intelligence services is said to have played a key role in sabotaging the Nord Stream 2 gas pipeline in 2022, according to officials in Ukraine and elsewhere. The officer is believed to have passed on crucial information about the pipeline to the Ukrainian military, who subsequently launched attacks on the infrastructure. In related news, Russia has stepped up attacks near Bakhmut, with forces launching missiles and other munitions.

Why China is on track to control African mineral transport route via Tazara line

South China Morning Post

China has chosen the China Civil Engineering Construction Corporation (CCECC) to negotiate a concession to operate the Tanzania-Zambia Railway line. It is expected to upgrade the railway and is estimated to cost US$1bn. CCECC is expected to negotiate a public-private partnership concession in the form of a build-operate-transfer model with Tanzania and Zambia to operate Tazara. The railway is 50 years old and was originally funded by Mao Zedong’s government as a foreign aid project. Observers have said the funding for the railway pointed to Beijing’s keen interest in using Tazara for mining exports from Zambia and the Democratic Republic of the Congo. Competition with both the EU and the US in the area has intensified recently as the race for critical minerals used in the production of electric vehicle batteries heats up. The interest in the African countries all circles back to minerals that are vital to the manufacture of electric batteries, including cobalt which comes from the DRC and Zambia.

China will host 6-nation military drills with Southeast Asia to ‘deepen trust’

South China Morning Post

China will host anti-terrorism exercises with five Southeast Asian countries later this month in Chinese waters. The joint drills, named “Aman Youyi 2023”, aim to enhance mutual trust and cooperation between countries and maintain regional peace and stability. The militaries of Cambodia, Laos, Malaysia, Thailand, and Vietnam will take part in the exercises, which will focus on both land and marine counterterrorism and security operations. This is the first time Vietnam, Cambodia, and Laos will participate in the drills. China is seeking to deepen military mutual trust with its neighbours amidst heightened tensions over territorial disputes in the South China Sea.

A fragile global economy is at stake as US and China seek to cool tensions at APEC summit

Associated Press

US President Joe Biden and Chinese President Xi Jinping are set to hold a high-level summit this week, marking the first time the two leaders will have spoken in a year. The summit will take place on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco. Hopes are high that the meeting could lead to a cooling of economic tensions between the US and China, which would have positive implications for the global economy. However, the White House has sought to manage expectations, stating that no breakthroughs are expected. The US-China economic relationship has been deteriorating for years, culminating in an all-out trade war instigated by former President Donald Trump in 2018. The Biden administration has kept much of Trump's confrontational trade policy in place, including tariffs on Chinese imports. Despite this, the Biden administration has also sought to reduce America's economic reliance on Chinese factories and solidify partnerships with other Asian nations.

China confirms 12-year jail sentence for Japanese man in spying case

Japan Times

A Chinese court has upheld a 12-year prison sentence for a Japanese national accused of espionage. The man, in his 50s, was detained in July 2019 in Changsha and sentenced to 12 years in prison in February 2020. The appeal against the sentence was rejected by the Hunan High People's Court on November 3.

Alibaba, JD.com post Singles’ Day sales growth but withhold sales tally

South China Morning Post

Alibaba and JD.com have announced sales growth during the Singles' Day shopping festival but have not disclosed exact revenue numbers, as they have done for the past decade. The companies did reveal gross merchandise value, number of orders, and participating merchants all recorded year-on-year growth. The shopping festival, initiated by Alibaba in 2009, is the world's largest online retail extravaganza. Despite the positive tone, this marks another year the two e-commerce giants have decided not to publish their exact sales numbers.

Tencent-backed online broker sets its sights on Japan market

Nikkei Asia

Moomoo Securities, an online broker backed by Tencent, is launching in Japan with a smartphone-based stock trading app aimed at attracting a younger generation of investors. The app offers users free access to real-time stock quotes, financial analysis tools, and news from outlets such as Dow Jones. While Moomoo currently only offers US stocks to Japanese customers, it plans to expand to include Japanese stocks and margin trading by the end of 2024. Moomoo's parent, Futu Holdings, is 22% owned by Tencent and generates most of its revenue from brokerage commissions and charging interest.

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