Economy and Trade
Domestic debt too. China is grappling with a hidden debt problem of its own. Estimates suggest provincial governments are carrying twice as much debt as official records show and, this week, China's various economic regulators came together to issue new guidelines on how to deleverage the regional administrations. Their plan? Borrow more. Washington Post
Trade on the line. Trade talks resumed between Washington and Beijing as the two sides connected by phone this week. The dial-in was the first contact the opposing deal makers have had since President Trump and President Xi called a truce in the trade after meeting during the G20, on June 29. However, a new face has joined China's trade team: Commerce Minister Zhong Shan, who is seen as a Party hardliner and is feared to have a tougher stance on trade. Bloomberg
Relations still frosty. Days after the ice-breaking phone call, President Trump took to Twitter to accuse China of "letting [the U.S.] down" by not purchasing enough agricultural products. "Hopefully they will start soon!" Trump tweeted, but reportedly the Chinese side don't believe they've made any commitments to buying more agricultural goods. The Hill
Sports shorts. China's best-selling sportswear brand Anta denied allegations levied against it by short seller Muddy Waters this week. In two releases spread across two days, Muddy Waters released a 106-page takedown report on Anta's business practices. Anta's Hong Kong listed stock fell over 7% after the first release, Monday. Trading has since stabilized, but the company's share price has not recovered entirely. Caixin
Innovation and Tech
China's tech stars. Shanghai's new Nasdaq-style STAR board was designed to convince pre-profit tech firms to list in China instead of venturing to markets overseas. This week, nine of the 25 inaugural STAR companies destined to list on the new tech board announced their IPO pricings. Between them, the nine companies expect to raise $2.7 billion. TechNode
Reprieve or no reprieve? After Trump told Xi at the G20 he would allow U.S. companies to sell to Huawei, reports claimed that the Chinese telecom maker had been issued a "reprieve," but "reprieve" is not quite right. According to comments made by Commerce Secretary Wilbur Ross, the situation is largely unchanged. Huawei remains on the dreaded "entity list" and U.S. companies will have to request permission before engaging in business with Huawei. These are the same conditions as before. The Wall Street Journal
Have a look-in. State-owned telecoms maker ZTE – the one which almost collapsed last year when Washington slapped sanctions on it – has opened a cybersecurity center in Belgium, inviting external parties to review its source code and verify its security. ZTE has similar centers in Italy and China. Caixin
Developing developers. Apple has opened its first China designer and developer accelerator in Shanghai to help local developers create new apps. The Cupertino company runs a similar center in Bangalore, India, which it opened two years ago. Currently there are over 2.5 million developers across Greater China making apps for the App Store, collectively earning over $29 billion in App Store sales. TechCrunch
Six Keys to Leadership Success
In an ever-changing business landscape, a leader's ability to adapt and motivate is critical in driving teams to succeed says Steve Kimble, chairman and CEO of Deloitte Tax. He outlines six leadership principles, including positivity and vulnerability.
Read more
In Case You Missed It
Economists share blame for China's 'monstrous' turn FT
A Koch Executive's Harassment in China Adds to Fears Among Visitors NYT
How U.S. tech giants are helping to build China's surveillance state The Intercept
The U.S. Is Worried About China's Investments—This Time in Israel The Atlantic
Politics and Policy
The bill is dead. After weeks of protests, Hong Kong leader Carrie Lam declared a bill that would permit extraditions to mainland China "dead." However, protestors continue to demand Lam formally withdraws the bill, which is currently suspended. Lam's bungling of the extradition bill has been criticized by local lawmakers but Beijing's top official in Hong Kong this week said that the central government continues to support the embattled leader. South China Morning Post
Friends in arms. Despite strong objections from China, Taiwan president Tsai Ing-wen visited the U.S. this week, stopping in New York for two days on her way to visit Taiwan's political allies in the Caribbean. Tsai's jaunt in the U.S., which comes a week after Washington approved a $2 billion arms sales to the self-governed island, is not an official visit. Tsai made a similar transit through California last year. South China Morning Post
This edition of CEO Daily was edited by Eamon Barrett. Find previous editions here, and sign up for other Fortune newsletters here.
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