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Media Report
January 18 , 2017
  • The Wall Street Journal：U.S. Companies Are Paring China Investment Plans, Survey Says
    The Wall Street Journal reports: " More U.S. businesses are shelving investment plans in China, a survey says, as companies find themselves caught between hardening trade stances in Washington and Beijing. The annual survey of members of the American Chamber of Commerce in China, released Wednesday, found that the percentage of companies that rate China among their top three investment targets fell to 56%, the lowest since at least 2009. Four out of five companies said they felt less welcome in China than before, nearly double the rate from three years ago...Because the survey began before the Nov. 8 election, it only partly reflects opinions on how President-elect Donald Trump will affect U.S.-China relations. But Mr. Trump's calls for steep tariffs on China have raised the specter of Beijing retaliation and given U.S. companies pause in deepening their investment in the country. While 72% of companies said positive relations between Beijing and Washington were 'very' or 'extremely' important to their business growth in China, only 17% expected ties to improve over the next year. 'This is somewhat sobering,' said William Zarit, chairman of the chamber. And 'a growing majority feel that a strong bilateral relationship is important to their companies' success,' he said."
  • Quartz：The Chinese government finally admitted that its economic data was made up
    Quartz comments: "For many who have long believed that China's economic growth figures seemed too good—and tidy—to be true, they now have official confirmation of that skepticism. China's economy expanded by 6.7% in the third quarter of 2016, as it did in the previous two quarters. As China is set to release fourth-quarter GDP figures on Jan. 20, China's economic growth looks right on track to hit the government's target growth rate of no less than 6.5% for the full year. But China's northeastern Liaoning province, which relies on steel production as its growth engine, had inflated its GDP figures from 2011 to 2014, said province governor Chen Qiufa on Jan. 17 in his annual work report, according to the state newspaper People's Daily. It is the first time the Chinese government has publicly admitted to faking official statistics at any level...Liaoning failed to hit government targets in key economic metrics in 2016, including GDP growth, fixed asset investment, and exports. The major culprit, Chen claimed, was that the economic policies implemented by provincial officials in the past had 'strayed from the path decided by the central government and the pragmatic way of the party.'  'Officials produce the numbers, and the numbers produce officials,' Chen added, referring to the idea that massaging data can help one get ahead in Chinese officialdom."
  • The New York Times：China Cancels 103 Coal Plants, Mindful of Smog and Wasted Capacity
    The New York Times reports: "China is canceling plans to build more than 100 coal-fired power plants, seeking to rein in runaway, wasteful investment in the sector while moving the country away from one of the dirtiest forms of electricity generation, the government announced in a directive made public this week. The announcement, made by China's National Energy Administration, cancels 103 projects that were planned or under construction, eliminating 120 gigawatts of future coal-fired capacity. That includes dozens of projects in 13 provinces, mostly in China's coal-rich north and west, on which construction had already begun. Those projects alone would have had a combined output of 54 gigawatts, more than the entire coal-fired capacity of Germany, according to figures compiled by Greenpeace. The cancellations make it likelier that China will meet its goal of limiting its total coal-fired power generation capacity to 1,100 gigawatts by 2020...'The key thing is that yes, China has a long way to go, but in the past few years China has come a very long way,' said Lauri Myllyvirta, a researcher for Greenpeace in Beijing."
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