Jack Ma’s Ant set for world’s biggest share offering at £26bn

Financial technology firm will list on Shanghai and Hong Kong stock markets in snub to US

Chinese billionaire Jack Ma’s financial technology firm is aiming to raise more than $34bn (£26.15bn) in the world’s biggest initial public offering, valuing the business at more than $313bn.

Ant Group, which on Monday set the price for its much anticipated flotation and is expected to start trading early next month, will beat the record $25.6bn sold by state-backed oil giant Saudi Aramco in its flotation last December.

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China: new coronavirus outbreak detected in Xinjiang city of Kashgar

Authorities test 2.84 million people after 137 asymptomatic cases found - the first local infections in China since 14 October

China has detected 137 new asymptomatic coronavirus cases in Kashgar in the north-western region of Xinjiang after one person was found to have the virus the previous day – the first new local cases for 10 days in mainland China.

All the cases detected on Sunday were linked to a garment factory where the parents of a 17-year-old girl who was found on Saturday to have the virus – but showed no symptoms – worked, a Xinjiang health commission official told a press briefing.

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Why China’s dramatic economic recovery might not add up

The country seems to have rebounded, but some analysts believe that at the very least, there is sleight of hand at work

Beijing prompted envy, admiration and not a little resentment when it released data last week confirming that it was the first major economy to start growing again after the devastation caused by Covid-19 in the first half of the year.

China appeared to have achieved the V-shaped recovery being chased by finance ministers around the world, after pioneering mass lockdowns to contain the virus that had taken hold in Wuhan, then shutting its borders to stop it filtering back in from abroad.

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Yang Hengjun: friend says writer told him he was a Chinese spy for 10 years

In private letter Yang reveals he spent a decade spying in countries including Hong Kong and the US, according to friend

An Australian writer detained in China on charges of espionage spent a decade working as a Chinese spy, including in Hong Kong and the United States, a close friend claims.

Yang Hengjun was detained in January 2019 and held in various forms of secretive and punitive detention until he was formally charged this month for alleged espionage on behalf of another country. The early stages of trial are under way.

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China warns Canada to halt ‘blatant interference’ as feud continues

Canada concluded China’s actions against ethnic Uighurs in the Xinjiang province constituted a genocide and called for sanctions

China has warned Canadian lawmakers to halt their “blatant interference” in its internal affairs, in the latest episode of a rumbling diplomatic feud between the two nations.

Earlier this week, a Canadian parliamentary committee concluded China’s actions against ethnic Uighurs in Xinjiang province constituted a genocide and called for sanctions against officials complicit in the government’s policy.

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Donald Trump paid nearly $200,000 in taxes to China, report claims

New York Times says records reveal company bank account in China, and documents show he paid more tax there than at home

Donald Trump maintains a bank account in China where he pursued licensing deals for years, according to a report that could undermine the president’s election campaign claim that he is tough on Beijing.

Tax records reviewed by the New York Times showed a previously unreported bank account in China controlled by Trump International Hotels Management. The account paid $188,561 in taxes in China between 2013 and 2015 in connection to potential licensing deals, according the newspaper.

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China’s economy was first in to Covid crisis – and is first out

Beijing was fast to respond and increased public investment; it has not faced a second wave

By its own standards, China’s economy is having a bad year. After four decades of stellar growth, the east Asian country will barely expand at all in 2020.

But just about every country – big or small – has faced a hit from the Covid-19 pandemic, and China has suffered less than most. Whereas most western industrialised nations are still struggling to get back to where they were before the virus struck, Beijing has reported that there was year-on-year growth in the third quarter.

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Global shares rise on US stimulus and vaccine hopes, China data – business live

Shoppers numbers across the UK fell 3.1% last week from the week before, as the new Covid-19 restrictions took their toll. The latest numbers from retail consultants Springboard show larger cities continue to be hit hardest, with footfall in regional cities down 5.7% compared with declines of 2.1% in market towns and 1.2% in coastal towns.

The 10pm curfew meant that high street footfall post 6pm fell 4.5% – nearly double the drop seen during the day, between 9am and 6pm, of 2.4%.

The additional Covid tiered restrictions had an immediate impact on footfall in retail destinations last week with an across the board week on week decline; the fourth consecutive drop and also greater than that in previous weeks.

US stock futures are pointing to a higher open on Wall Street later, with the Dow Jones seen opening 0.8% higher, the Nasdaq up 1.2% and the S&P 500 0.9% ahead.

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Taiwan official in hospital after alleged ‘violent attack’ by Chinese diplomats in Fiji

Alleged incident, which comes amid soaring tensions between Beijing and Taipei occurred at a reception in Suva to mark Taiwan’s national day

A fight between Chinese diplomats and a Taiwanese delegate in Fiji left the Taiwanese official in hospital with a head injury, and has again highlighted tensions between Beijing and Taipei in their struggle for influence across the Pacific.

The incident took place at a Taipei Trade Office reception at Suva’s Grand Pacific Hotel on 8 October, to mark Taiwan’s national day. Two officials from the Chinese embassy in Suva allegedly arrived uninvited and tried to photograph and film those in attendance, including at least two ministers from Fiji’s government, diplomats from other countries, international and local NGOs, and members of Fiji’s ethnic Chinese community, sources at the event told the Guardian.

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Global report: Fauci ‘absolutely not’ surprised Trump got Covid; Biden warns virus worsening

China’s economy grows 4.9%; ‘Situation is critical’ in Italy, says PM; restrictions ease in Australian city of Melbourne

Dr Anthony Fauci, the top US infectious diseases expert and sidelined White House coronavirus taskforce member, has said he was “absolutely not” surprised that Donald Trump contracted coronavirus, as Joe Biden warned that the coronavirus outbreak was worsening.

In an interview with 60 Minutes aired on Sunday, shortly before Trump held a rally in Nevada, Fauci said: “I was worried that he was going to get sick when I saw him in a completely precarious situation of crowded, no separation between people, and almost nobody wearing a mask.”

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Justin Trudeau hits back at China after threat to Canadians in Hong Kong

Prime minister says Canada will ‘stand up loudly’ for human rights after China’s ambassador against welcoming Hong Kong pro-democracy activists

Canada will continue to defend human rights in China, prime minister Justin Trudeau has pledged, after a top Chinese diplomat warned Ottawa against welcoming Hong Kong pro-democracy activists.

China’s ambassador to Ottawa, Cong Peiwu, warned Canada on Thursday against granting asylum to Hong Kong activists, which he said could have consequences for the “health and security” for the 300,000 Canadians living in the theoretically autonomous Chinese territory.

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Chinese detention ‘leaving thousands of Uighur children without parents’

Researcher says Xinjiang files reveal government strategy of long-term social control

Thousands of Uighur children appear to have been left without parents as their mothers or fathers were forced into Chinese internment camps, prison and other detention facilities, according to evidence from government documents in Xinjiang.

Records compiled by officials in southern Xinjiang and analysed by the researcher Adrian Zenz indicate that in 2018 more than 9,500 mostly Uighur children in Yarkand county were classified either as experiencing “single hardship” or “double hardship” depending on if one or both parents were detained.

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Over the Moon review – Netflix family animation is more Disney than Disney

The voices of Cathy Ang, John Cho and Sandra Oh star in this K-poppy, trippy fantasy about a girl who builds a rocket and flies to the moon

Watch your back, Disney; here comes Netflix in Hollywood studio mode, flexing its ambition with an animated family fantasy adventure about a sunny, 13-year-old girl called Fei Fei who flies to the moon in a homemade rocket. It’s a film for the globalised 21st century (and presumably Netflix’s global audience): a Chinese story directed by an American – the veteran Disney animator Glen Keane – and voiced in English by actors of (mostly) east Asian heritage.

Cathy Ang is Fei Fei, who is horrified when her dad (John Cho) brings home a new girlfriend (Sandra Oh) four years after her mum’s death. Fei Fei is a true believer in the mythical goddess Chang’e, who is said to languish on the moon, pining for her mortal lover. Our heroine reasons that if she can prove Chang’e and eternal love really do exist, her dad will have to chuck his girlfriend and devote himself to the memory of her mumThus, as a science whizz, she builds a spaceship. It’s a contrived plot but Keane’s character design is beautifully expressive, adding real emotional force – Fei Fei’s face scrunched in anguish when she realises her dad plans to remarry is very touching.

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MI5 boss says Russian and Chinese threats to UK ‘growing in severity’

Ken McCallum also pledges to boost diversity in the service as response to Black Lives Matter movement

MI5’s new boss has said the spy threats posed by China and Russia to the UK are “growing in severity and complexity” while the terrorist threat from Isis and the far right “persists at scale”.

Giving his first speech since his domestic spy agency’s director general in April, Ken McCallum focused on risks from hostile states, including undermining “the integrity of UK research” on a coronavirus vaccine.

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Saudi Arabia fails to join UN human rights council but Russia and China elected

Result follows warnings from human rights groups that UN body’s credibility at stake

Russia and China have been elected to the UN human rights council for the next three years, but Saudi Arabia failed in its attempt to win a place on the 47-seat body.

The result is a severe blow to the country’s efforts to improve its image in the wake of the admitted killing of the Saudi citizen and Washington Post reporter Jamal Khashoggi.

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China, Russia and Saudi Arabia set to join UN human rights council

Rights campaigners voice concerns as Cuba and Pakistan also expected to be elected

China, Russia, Cuba, Pakistan and Saudi Arabia are expected to be elected to the board of the UN human rights council on Tuesday, leaving human rights campaigners in the countries aghast and pleading with EU states to commit to withholding their support.

The Geneva-based monitoring NGO UN Watch described the situation as the equivalent of allowing five convicted arsonists to join the fire brigade.

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Hong Kong chief executive postpones key policy speech

Carrie Lam to consult Beijing in attempt to protect city’s status as international finance hub

Hong Kong’s chief executive, Carrie Lam, has postponed a key annual policy address scheduled for Wednesday, claiming she must consult Beijing on some of her proposals.

The unprecedented delay to the speech was also attributed to plans by the Chinese president, Xi Jinping, to visit Shenzhen to mark the 40th anniversary of the special economic zone on Wednesday, which was announced only on Monday and which Lam would also attend.

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Chinese city giving away 10m yuan in lottery trial of digital currency

Shenzhen residents can win one of 50,000 ‘red packets’ to spend in local shops

Authorities in the Chinese city of Shenzhen have begun giving away more than 10m yuan ($1.49m) in a citizens’ lottery, as part of trials of a new digital currency.

Almost 2 million people applied to be one of 50,000 randomly selected citizens receiving a “red packet” valued at 200 yuan (about US$30) on Sunday, to spend at 3,800 designated outlets in the district of Luohu. Participants must download the official digital Renminbi app, which is not yet publicly available, to receive the currency for purchases within the next week.

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Taiwanese man held in China ‘confesses’ on TV to filming troops on Hong Kong border

Lee Meng-chu is accused of filming Chinese troops gathering at the border with Hong Kong during protests in 2019

A Taiwanese man detained in China and accused of endangering national security appeared on Chinese television on Sunday evening, “confessing” to illegally filming military exercises in a city bordering Hong Kong during protests there last year.

Human rights organisations accuse China of regularly forcing detainees to deliver public confessions broadcast on television, in a country where the opaque judicial system remains subject to the ruling Communist party.

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Canadian detained in China ‘astonished’ to learn about scale of Covid pandemic

On Saturday Michael Kovrig had his first contact with diplomats since January, saying he was determined to come home

One of the two Canadians that Ottawa says are held arbitrarily in China was “relieved” to get outside news via a virtual diplomatic visit and astonished to learn of the scale of the Covid pandemic, his wife said on Sunday.

Canada announced on Saturday its first contact since January with Michael Kovrig and Michael Spavor, who have been imprisoned in China for nearly two years.

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