Sino-File

On the offensive
On the offensive
Apr 5, 2019 (WiC 447)
“The US government has a loser’s attitude. They want to smear Huawei because they can’t compete with us”

Huawei’s rotating chairman Guo Ping hits out at Washington over its attempt to get allies to ban the Chinese firm’s 5G equipment. The Shenzhen-based giant last week announced its full-year net profit had risen 25% over 2017 to Rmb59.3 billion ($8.82 billion) helped by a 45% surge in smartphone sales.

Flying high
Flying high
Mar 29, 2019 (WiC 446)
“Our expanding footprint in China demonstrates our lasting confidence in the Chinese market and our lasting commitment to China”

Guillaume Faury, president of the commercial division of Airbus, comments on a deal struck with China’s Aviation Supplies Holding Company to sell 290 of its A320 aircraft and 10 wide-body A350 XWB planes. This will take the number of Airbus jets in China above 2,000 and was described by the Financial Times as “a blow to Boeing”.

Weight watching
Weight watching
Mar 22, 2019 (WiC 445)
“It’s impossible to be subject to political influence. The indices are a means to an end. The indices reflect the accessibility and demands of investors around the world”

Henry Fernandez, the head of MSCI, tells the Financial Times there was “zero politics” in its decision to raise Chinese stocks’ weighting in its flagship emerging markets index from less than 1% to 3.3%. Some fund managers have criticised the move based on corporate governance standards in China.

Talking terms
Talking terms
Mar 15, 2019 (WiC 444)
“We are working more or less continuously. I’ll be on the phone again with them tomorrow”

Lead US negotiator Robert Lighthizer tells the Senate Finance Committee he is a few weeks away from potentially striking a China trade deal, but that big structural issues remain. He said the agreement would run to 110 pages and added: “We have to have real progress, and we have to maintain the right to raise tariffs when there are violations of the agreement.”