The Big Ideas

by Malcolm Riddell

Bloomberg

Bloomberg

Bloomberg

'China Plans to Exempt H.K. IPOs From Cybersecurity Reviews'
'China Plans to Exempt H.K. IPOs From Cybersecurity Reviews'
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July 18, 2021
BIG IDEA | ‘China plans to exempt companies going public in Hong Kong from first seeking the approval of the country’s cybersecurity regulator, removing one hurdle for businesses that list in the Asian financial hub instead of the U.S.’

‘China plans to exempt companies going public in Hong Kong from first seeking the approval of the country’s cybersecurity regulator, removing one hurdle for businesses that list in the Asian financial hub instead of the U.S., according to people familiar with the matter.’

  • ‘The Cyberspace Administration of China will vet companies to ensure they comply with local laws, but only those headed to other countries such as the U.S. will undergo a formal review, the people said.’
  • ‘All listings, including those in Hong Kong, will require a sign-off from the China Securities Regulatory Commission under the new framework, the people said.’

‘China’s government is overhauling the way it regulates initial public offerings as part of a broad campaign to tighten oversight of companies like Didi Global Inc. and ByteDance Ltd. that control reams of valuable user data.’

  • ‘Beijing has entwined the importance of data with that of national security and the battle for technological supremacy with the U.S., fueling speculation that regulators will use the new cybersecurity review to end the flood of Chinese companies going public in New York.’

‘The cybersecurity exemption for Hong Kong, which is a special administrative region of China, would help soften the blow for international banks like Morgan Stanley that have earned some $6.4 billion in fees from offshore listings by Chinese companies since 2014.’

  • ‘About 60% of that was generated from Hong Kong listings.’

The Wall Street Journal

CHINADebate

The Big Ideas

The Editorial Board | The Wall Street Journal

'Biden’s Warning on Hong Kong'

‘The pretense of Chinese and Hong Kong authorities is that their crackdown on the rule of law and dissent will have no effect on Hong Kong’s viability as an international center for trade and finance.’
The Editorial Board | The Wall Street Journal
7/18/2021

CHINADebate

CHINADebate

The Big Ideas

Why the U.S. Lacks Leverage over China

During the celebration of the Chinese Communist Party’s Centennial celebration, Mr. Xi stood in the same place on the balcony facing Tiananmen Square where Mao Zedong stood when he announced the founding of the PRC; Mr. Xi wore a gray Mao suit, among a sea of blue western suits; and he centered himself right above the portrait of Mao, who is similarly attired.
Malcolm Riddell
Founder of CHINADebate
7/18/2021

Foreign Affairs

CHINADebate

The Big Ideas

Kurt Tong | Asia Group

Hong Kong and the Limits of Decoupling

‘The United States’ inability to make China regret—much less reverse—its transgressions in Hong Kong suggests that financial separation, sanctions, and economic barriers are less reliable tools than many in Washington believe.’
Kurt Tong | Asia Group
7/18/2021

Nikkei Asia

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The Big Ideas

'I will aim for Mao's Status.'

‘There on the gate was Xi Jinping, Chinese president and party general secretary, in a gray Mao suit. Just below his feet was the portrait of Mao Zedong, also dressed in a gray Mao suit.’
7/18/2021

Financial Times

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The Big Ideas

'US warns companies of risk of doing business in Hong Kong'

“In the face of Beijing’s decisions over the past year that have stifled the democratic aspirations of people in Hong Kong, we are taking action,” said Antony Blinken, US secretary of state. “Today we send a clear message that the US resolutely stands with Hong Kongers.”
7/18/2021

CHINADebate

CHINADebate

The Big Ideas

The Chinese Point of View

Here are a few of my thoughts on the importance of Wang Jisi’s ‘The Plot Against China.’ Yuen Yuen Ang’s ‘The Evolution of Chinese Corruption’ speaks for itself - but note especially how Mr. Xi's anti-corruption campaign could hurt China's economy. I have now lived long enough that when a friend complains about his or her spouse, I say to myself, ‘There are no doubt two sides to this story.’
Malcolm Riddell
Founder of CHINADebate
7/4/2021

Foreign Affairs

CHINADebate

The Big Ideas

Wang Jisi | President of the Institute of International and Strategic Studies at Peking University

'How Beijing Sees U.S.-China Relations'

‘In Chinese eyes, the most significant threat to China’s sovereignty and national security has long been U.S. interference in its internal affairs aimed at changing the country’s political system and undermining the CCP.’
Wang Jisi | President of the Institute of International and Strategic Studies at Peking University
7/4/2021

Foreign Affairs

CHINADebate

The Big Ideas

Yuen Yuen Ang | University of Michigan

'How Corruption Powers China's Economy'

‘China has managed to sustain four decades of economic growth despite levels of corruption that even Xi has described as “grave” and “shocking.” Why does it seem to have bucked the trend?’
Yuen Yuen Ang | University of Michigan
7/4/2021
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