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The Weekly Brief

Just a quick update in case you missed it.

Released on 22.09.2023

Germany’s main result. It is about 5G network and relations with China

As part of the 5G rollout, components from China won’t be completely banned — the home ministry wants to “strictly control” their use. “It took the Federal Ministry of Interior many years to deal with the Huawei case. During Angela Merkel’s government, Germany was afraid of excluding Chinese suppliers from expanding the crucial 5G network. The IT Security Act of 2021 has already been drafted in theory. Now the Ministry of Internal Affairs has decided to take advantage of the law without openly clashing with China. likes,” describes the “Tagesschau”.

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Biden’s UN speech barely mentioned Russia and China. That’s no coincidence

Every September, the annual UN general assembly session offers global leaders a prime opportunity to publicize their top priorities to an international audience – precisely what President Joe Biden did on the conclave’s opening day this week. As Biden approached the podium, the representatives of China and Russia may have braced for an earful: Russia’s invasion of Ukraine has produced Europe’s deadliest war in more than 70 years.

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Foreign Interference: RCMP investigate death of B.C. man targeted by China.

The RCMP is investigating the death of a B.C. man who was a target of Operation Fox Hunt, a Chinese government campaign to pressure expatriates and silence opponents. Wei Hu, a 57-year-old father of three, lived in a gated $2.8-million property on B.C.’s Harrison Lake. According to a friend, he was a critic of Beijing who left China in 2000. But even in Canada, he could not escape the Chinese Communist Party (CCP), which issued a so-called Red Notice through Interpol seeking his arrest and return to China for supposed financial crimes.

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China gives EV sector billions of yuan in subsidies.

China's generosity to the electric vehicle sector when it comes to handing out subsidies has come under fresh scrutiny since the European commission announced an investigation into the matter. An analysis of listed companies shows that substantial amounts of government money are indeed flowing to the strategically important industry. Among more than 5,000 mainland Chinese listed companies, five of the top 10 recipients of government grants during the first half of this year were local manufacturers of EVs or the batteries that power them, according to data compiled by Chinese information provider Wind and a survey by Nikkei Asia.

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Foreign investors still shunning China despite signs of upturn

Foreign investors have dumped a further Rmb23bn ($3.15bn) of Chinese equities so far this month following record outflows in August, despite tentative signs of an improvement in the world’s second-largest economy. Selling through China’s Stock Connect schemes, which allow foreign investors to trade onshore equities, has been at a slower pace so far than during the previous month when $12bn worth of stocks were sold through them. Yet Chinese equity markets are still on track for one of their biggest net monthly outflows this year.


How France aims to discourage buying of Chinese EVs

The French government currently offers buyers a cash incentive of between 5,000 and 7,000 euros in cash for eligible models to get more electric cars on the road, at a total cost of 1 billion euros ($1.07 billion) per year. However, in the absence of cheap European-made EVs, a third of all incentives are going to consumers buying EVs made in China, a French finance ministry source said. The trend has helped spur a surge in imports and a growing competitive gap with domestic producers. The scheme will be revamped from Dec. 15 to take into account the carbon emitted in a model's manufacturing process.

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Lawmakers make bipartisan push on U.S. competitiveness with China.

Several lawmakers from both sides of the aisle are calling for the U.S. to take stronger measures to push back against ongoing unfair trade practices and industrial espionage coming from China. A year after the passage of the CHIPS Act, there's still bipartisan appetite in Congress for more action to promote U.S. technological competitiveness. On Monday, Rep. Mikie Sherrill (D-N.J.) introduced the Leading Global Innovation Resolution, which calls for further action to counter Beijing's "Made in China 2025" plan for dominance in emerging technologies.

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