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Global Times: MSCI to Remove Seven Chinese Stocks from Its Indexes

Global Times recently reported that the world’s largest stock index company MSCI announced that, after the market closes on January 5, it will remove seven Chinese companies from its indexes. Earlier, S&P Dow Jones Indexes and FTSE Russell already made similar moves. This is following U.S. President Donald Trump’s having issued an executive order to ban U.S. investment in 31 military-tied Chinese companies. The impacted stocks hold a share of 0.04 percent in the MSCI ACWI Investable Market Index and 0.28 percent in the Emerging Market Index. China says this shows the U.S. hegemony in capital markets. (Editor’s note: MSCI indexes are often used to allocate elements in major U.S. funds automatically, such as pension funds and other retirement funds).

Source: Global Times, December 17, 2020
https://finance.huanqiu.com/article/418PjinqXwF

Briefings | | |   US-China Relations

Kwongwah Daily: The U.S. Sponsored Mekong Dam Monitor Plan

Kwongwah, which is Malaysian-based, is the world’s oldest privately owned Chinese daily newspaper. It recently reported that the U.S. State Department sponsored the Mekong Dam Monitor Plan, which it just introduced. The Mekong River, also known as the Lancang River in China, is 4,350 kilometers in length and flows southward through Myanmar, Laos, Thailand, Cambodia and Vietnam. The Plan will use satellites to track the Chinese dam water level of the Lancang River in the upper Mekong, as well as the water levels of the dams in the downstream countries. The Plan will also collect data on surface humidity in the region and the natural water flow volume of the Mekong River. All data will be shared with the general public. Scientists working on the Plan explained that the Chinese dams are carefully designed to maximize the power generation to supply Eastern China. Monitoring data showed the design did not consider the impact on the downstream countries. That impact affects a total population of 60 million people, who depend heavily on the Mekong for fishing and agriculture. China disagreed with this assessment. Sun Yat-sen, the founder of the Republic of China, established Kwongwah Daily 110 years ago.

Source: Kwongwah Daily, December 14, 2020
https://bit.ly/3nAcdLs

Briefings | | |   Economy/Resources Geo-Strategic Trend US-China Relations

Wang Yi Said any Issues between China and the U.S. Can Be Discussed, including Taiwan

China Review News Agency published a “Quick Commentary” in which it stated that, on the 7th, State Councilor and Foreign Minister Wang Yi held a video exchange with a delegation from the US-China Business Council’s Board of Directors. He put forth five suggestions on promoting the healthy and stable development of Sino-US relations, including opening up dialogues at all levels and strengthening communication. He expressed that any question can be raised at the negotiation table, including strategic, overall, and long-term issues. Discussions could also start on specific issues to seek breakthroughs and solutions.

He pointed out that the new US government will come to power on the 20th of next month. Therefore, this is an opportunity for China and the United States to reverse or ease the tense relations from the past three years. In addition to Wang Yi, Cui Tiankai, the Chinese Ambassador to the United States, and Fu Ying, the former Deputy Minister of Foreign Affairs, also recently sent out messages to promote talks, calling for the promotion of Sino-US relations to be put back on track.

Wang Yi pointed out that any issue between China and the United States can be brought to the table for discussion. His attitude seemed quite proactive and open, showing that the Chinese side is confident and determined. He pointed out that any issue could be discussed, including Taiwan and that, in recent years, the Trump administration has frequently played the “Taiwan card.” As part of the U.S. policy to contain China and decouple from China, the Taiwan Strait is most likely to become a tipping point for China and the United States, and communication and control are urgently needed.

Many people expect that the new US government will not easily let go of the “Taiwan card,” but they do not rule out the gradual adjustment of policies under pressure from China. In the past, between 2005 and 2008, in the late Bush administration, China and the United States once formed a situation of joint control and containment of “Taiwan independence.” Now, China has more strength and determination to crack down on any external intervention and crack down on the separatist activities of those who favor “Taiwan independence.”

China’s side has taken the initiative to send out messages and appeals to promote talks, and it is also preparing for the opening of dialogues at all levels between China and the United States. Biden’s victory did bring a turning point for returning Sino-US relations to the right track and a resumption of dialogue between the two sides can be expected. Enhancing communication will make it possible for both sides to manage differences and to expand the convergence of interests effectively, which will be beneficial to the stability of the situation across the Taiwan Strait. [Editor’s note: This report, which was on a number of major Chinese media websites on Dec. 8, 2020, shows how confident Wang Yi is on Biden’s victory and on the Biden administration’s cooperation. This report can be no longer be found online but has been archived.

Source: http://news.stnn.cc/hk_taiwan/2020/1208/810846.shtml

Briefings | | |   Defense/Military Geo-Strategic Trend Government/Politics US-China Relations

Members of House and Senate Introduced Bill to Stop Forced Organ Harvesting in China

On December 16, Senator Tom Cotton (R-Arkansas), Congressmen Chris Smith (R-New Jersey) and Tom Suozzi (D-New York) jointly introduced the Stop Forced Organ Harvesting Act which aims to prevent the Chinese Communist Party from harvesting organs from prisoners of conscience.

The Act mandates annual reporting on forced organ harvesting in foreign countries. This State Department reporting would identify foreign officials and entities responsible for forced organ harvesting. The Act sanctions foreign officials and entities that engage in or otherwise support forced organ harvesting and prohibits the export of organ transplant surgery devices to entities responsible for forced organ harvesting. It authorizes the U.S. government to deny or revoke passports for illegal organ purchasers.

In the statement Cotton, Smith and Suozzi issued, they stated that there is growing evidence that the Chinese Communist Party has and continues to harvest organs from prisoners and members of Chinese religious groups. They called organ harvesting barbaric, inhumane and egregious. The Act will put an end this gruesome human rights abuse and the members of the CCP must be held accountable for it.

Source: Voice of America, December 18, 2020
https://www.voachinese.com/a/bill-to-combat-forced-organ-harvesting-20201218/5705314.html

Briefings | | |   US-China Relations

China News: China Imposes Sanctions on the U.S.

China News, a state-owned Chinese news agency with an international orientation, recently reported that the Chinese Ministry of Foreign Affairs just announced sanctions on U.S. government officials and some non-government organization (NGO) staff, as well as their relatives. The sanctions announcement claimed these American individuals seriously interfered in China’s internal affairs and harmed China’s core interests in Hong Kong. China has also decided to cancel US diplomatic passport holders’ visa-free treatment for temporary visits to Hong Kong and Macau. On December 8, the United States sanctioned 14 Vice Chairmen of the Standing Committee of the National People’s Congress of China for their responsibilities in violating China’s treaty promise to the people of Hong Kong. This new China-issued counter-sanction is the answer to the U.S. action. The Chinese Ministry of Foreign Affairs also urged the U.S. to stop meddling in Hong Kong affairs as well as China’s internal affairs, warning the U.S. not to go down this “dangerous and wrong” path.

Source: China News, December 10, 2020
https://www.chinanews.com/gn/2020/12-10/9358930.shtml

Briefings | | |   US-China Relations

China Times: U.S. Stock Indexes Removed Chinese Companies

Major Taiwanese news network China Times recently reported that, starting in December and January, the S&P and Dow Jones Indexes will remove 21 Chinese Mainland companies from stock and bond index component lists. A week ago, FTSE Russell also announced the removal of Chinese components from its global series of indexes. U.S. President Trump issued an executive order on December 11 requiring U.S. investors and agencies to remove their stakes in companies related to the Chinese military, with a list of 31 entities. The U.S. Department of Defense also listed four additional Chinese companies in their blacklist. Some of the blacklisted Chinese companies are well-known and large-scale companies, such as SMIC (China’s top domestic chip maker), Hikvision (the world’s largest video surveillance manufacturer), and China National Offshore Oil Corporation (CNOOC, China’s third largest oil company). The U.S. House of Representatives also passed a bill on December 1, requiring the removal for three years of all foreign companies listed in the U.S. stock markets that have not complied with the audit standards set by PCAOB (Public Company Accounting Oversight Board). SMIC and Hikvision declined to comment on the news.

Source: China Times, December 10, 2020
https://www.chinatimes.com/cn/realtimenews/20201210005950-260410?ctrack=mo_money_headl_p01&chdtv

Briefings | | |   US-China Relations

HKET: China Banned TripAdvisor from Its App Stores

Hong Kong Economic Times (HKET), the leading financial daily in Hong Kong, recently reported that China banned major U.S. travel service app TripAdvisor from the China region’s App stores on both Apple and Android markets. As of now, a search in the Chinese App stores will no long find TripAdvisor. This is part of the latest wave of the removal of 105 apps in the Chinese app market. The Chinese authorities claimed these are apps spreading obscene, violent, bloody and other illegal information. Some offered illegal services facilitating gambling and prostitution. Some of the applications did not comply with the “requirements of the government reviews.” It is unclear what caused the removal of a reputable global travel service provider like TripAdvisor. TripAdvisor does provide the capability for customers to make comments on services. China expressed the intent to continue this campaign of “cleaning up the app market” with similar future waves.

Source: HKET, December 9, 2020
https://bit.ly/3a75tAW

Briefings | | |   Information/Technology US-China Relations

First Chinese Official Sanctioned for Persecuting Falun Gong Practitioners

On December 10, World Human Rights Day, the U.S. State Department announced sanctions on 17 foreign government officials and their immediate family members accusing them of serious human rights violations. In addition to the big names from Russia, El Salvador and Jamaica, the sanctions list also included a police officer from Xiamen City, Fujian Province, who was involved in the persecution of Falun Gong practitioners.

The statement specifically called out Huang Yuanxiong, director of the Wucun Police Station, Siming Branch of the Xiamen Public Security Bureau in Fujian province, accusing him of detaining, torturing and interrogating Falun Gong practitioners and seriously infringing on their religious freedom. It stressed that the world will not disregard the Chinese government’s violations of the internationally recognized freedoms of thought, conscience, and religious belief and the systematic suppression of human rights. Teng Biao is a Chinese lawyer who has defended Falun Gong practitioners in China and is currently residing in the U.S. Teng called the sanction significant because this is the first time that the U.S. imposed sanctions on Chinese officials who participated in the persecution of Falun Gong practitioners. Teng said that Falun Gong (practitioners) have been persecuted for more than 20 years. It is a major human rights disaster which has not received enough attention in the world. Zhang Erping, spokesperson for the Falun Dafa Information Center said that he welcomes the U.S. taking the lead on this human right issue and hoped that the sanction will make the Chinese officials take a look at their own consciences and consider whether to side with justice or with the abusers.

This year the U.S. has unexpectedly launched a number of sanctions on China’s human rights abusers. In July and August, the U.S. imposed financial and visa sanctions against Chen Quanguo, the Xinjiang Party Secretary; Wang Mingshan, the Public Security Director of the Xinjiang Uygur Autonomous Region; Carrie Lam, the Hong Kong Chief Executive; and Xia Baolong, the Director of the Hong Kong and Macao Affairs Office. Recently it imposed sanctions on 14 CCP members on the Chinese parliament’s standing committee. As of today, the U.S. has imposed sanctions on total of 30 Chinese and Hong Kong officials.

Source: Radio Free Asia, December 11, 2020
https://www.rfa.org/mandarin/yataibaodao/renquanfazhi/hj-12112020141938.html

Briefings | | |   US-China Relations