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Media Report
April 11 , 2018
  • CNBC reports: "PBOC Governor Yi Gang said that China will allow foreign firms to compete on an equal footing with domestic companies in the sector. The central bank also confirmed it wants to set up a planned trading link between its stock markets and London by end-2018. China will raise foreign ownership limits to 51 percent in securities, fund management, futures and life insurance companies 'over the next few months.'"
  • The New York Times reports: "A Chinese start-up that appears to have mastered the art of keeping people glued to their smartphones also has a knack for something else: drawing the ire of China's censors. The country's top media regulator on Tuesday ordered the company, Bytedance, to shut down its app for sharing jokes and silly videos. Vulgar content on the Neihan Duanzi app had "caused strong dislike among internet users," a brief notice from the State Administration of Radio and Television said. The company was told to clean up its other platforms, too... The company's travails show how the government in Beijing has broadened its restrictions on what people see and say on the internet."
  • Steven Englander comments in Bloomberg: "Many of the proposals or suggestions on how China might respond to U.S. tariffs have the air of "Surrender or I will shoot myself in the foot." They may not only hurt China, but damage the country's campaign to establish itself as a financial power and hinder the use of the yuan as a reserve currency. It's possible China will use talk of such steps to make the Trump administration more flexible, but very unlikely Beijing can follow through... Some of these would be difficult to accomplish simultaneously, pushing in opposite directions... It sounds plausible that China would threaten to retaliate in financial markets, but the threat is less convincing when China itself would be severely affected."
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