Sino-File

Open universities?
Aug 2, 2019 (WiC 462)
“US higher education is increasingly accessible to Chinese students”

Marie Royce, US assistant secretary of state for education, tells a Washington forum that Chinese students remain welcome in America. This runs counter to recent media attention that the Chinese have been put off US universities by visa rejections related to the trade and tech war, favouring the UK more instead (see WiC459). Royce revealed that US visa applications by Chinese students had fallen for each of the past four years.

Fake news
Jul 26, 2019 (WiC 461)
“This is the worst ever made up news about Cambodia”

Cambodian Prime Minister Hun Sen tells local media that a report in the Wall Street Journal that China will operate a naval port in his country is untrue. The newspaper had said an agreement had been signed to station Chinese ships at the port of Ream on the Gulf of Thailand. Hun Sen added that hosting foreign bases was against the Cambodian constitution.

GE’s still bullish on China
Jul 19, 2019 (WiC 460)
“Global multinational companies are very willing to intensify cooperation with Chinese companies, and Sasac has made it clear it supports and encourages such cooperation”

GE’s boss Larry Culp tells Hao Peng, the head of the State Asset Supervision and Administration Commission (Sasac), that he is open to working with Chinese state firms, particularly on BRI projects. They met in Beijing on Monday during Culp’s first trip to China since he became GE’s CEO last October.

Chilling out
Jul 12, 2019 (WiC 459)
“Though winter may be tough to live through, it’s a good time to do introspection”

A comment attributed by the Wall Street Journal to female tycoon Zhou Xiaoguang, whose conglomerate Neoglory was in bankruptcy court in April after it defaulted on a bond. Yiwu-based Neoglory expanded from its roots in costume jewellery into property and retail, racking up $6.8 billion of borrowings. The liquidity crunch is similar to that faced by Ningbo property-to-car conglomerate Yinyi (see WiC458) and signals a worrying trend.