HONG KONG (Reuters Breakingviews) - Regulatory pressure on Didi is being reinforced by angry Chinese nationalists. They’re deleting the ride-hailing app over accusations the company handed data to the U.S. government. In the past, patriots, often egged on by state media, focused on overseas brands. This latest case sets a dangerous precedent that will make them increasingly turn on their own.
HONG KONG (Reuters Breakingviews) - China’s new cybersecurity regulator has bolded the fine-print risks in prospectuses. The government is investigating China’s Full Truck Alliance, better known as Manbang, and online recruiter Kanzhun, known as Boss Zhipin, both of which listed in New York in June, after hammering ride-sharing app Didi just days after it raised $4.4 billion there.
［香港 ３０日 ロイター BREAKINGVIEWS］ - 中国共産党は今週、結党１００周年を迎える。上海のフランス租界で創建されてから１世紀がたつが、国内でこれほどまでに人気が高く、一方で海外ではこれほど嫌われたことはかつてない。共産党指導者は支配が巧みで、野心に満ちている。しかし、危険なほどに新しいアイデアがない。
HONG KONG (Reuters Breakingviews) - The Chinese Communist Party turns 100 this week. A century after it was founded in Shanghai’s French concession, the institution has never been so popular at home or resented abroad. Its leaders are experts at the nuances of control, and long on ambition. But they are dangerously short on new ideas.
HONG KONG (Reuters Breakingviews) - The historian joins Pete Sweeney to discuss his latest book on disasters, natural and man-made, and why so many governments got Covid-19 so wrong. They debate which political model looked best after the pandemic and whether historians can make a difference at times like these.
HONG KONG (Reuters Breakingviews) - Beijing’s clumsy campaign to build a national consumer credit-scoring system has reeled off on a new tangent. Financial technology titan Ant may be trying to escape an ill-conceived central bank agency by starting a venture with state-owned enterprises. That might be better for Jack Ma’s company, and perhaps end a long-running struggle over data-sharing with regulators too, but it’s not in the public interest.
HONG KONG (Reuters Breakingviews) - Beijing is mastering subtraction, but struggling with basic economics. A crackdown on the country’s $120 billion tutoring industry may help address manic competition for college preparation, which distorts the labour supply and suppresses the birth rate. It’s a byproduct of a widening wealth gap, however, and this approach could make it worse.
HONG KONG (Reuters Breakingviews) - Beijing has given China shorts a helping hand. The collapse of U.S.-based hedge fund Archegos Capital and central government crackdowns have delivered selective relief to investors attacking Chinese shares in New York. They should be cautious: patriotic reinforcements are on the way.
HONG KONG (Reuters Breakingviews) - A young trader at the Hong Kong branch of a mainland brokerage learned five years ago what matters most in local finance. At a 2016 annual meeting, executives told his team just how critical access to China’s only hard currency market is: “We don’t care if you make money,” they said. “Just whatever you do, make sure you hold onto the licences.” Beijing’s focus has grown even more pronounced since, and as a result the city is becoming dangerously one-dimensional.
［香港 ２日 ロイター BREAKINGVIEWS］ - １９９５年、私は流行に乗る人の群れに混じってアトランタに移り住んだ。次のオリンピックを見に観光客が押し寄せるとみて、それに乗じようと考えたのだ。だが、誇大広告に惑わされ続けた他の人々と同様、私も失望する運命にあった。