Links for Monday, May 10, 2021
Notable China news from around the world.
BUSINESS AND TECHNOLOGY:
CATL to develop next-gen batteries for Aiways
Contemporary Amperex Technology (CATL), the world’s largest battery maker, will develop next-generation batteries with electric vehicle maker Aiways, per Yicai Global.
- As part of the deal, CATL bought a tiny stake of 0.4% in Aiways for about $500,000.
- Aiways currently lags behind its competitors, such as NIO, Xpeng, and Li Auto in sales volume, having shipped only 2,600 vehicles last year.
- But Aiways is farther ahead in the race to European markets: In January, the four-year-old company sealed deals with France and Belgium to distribute its sport vehicle, the U5.
Ganfeng Lithium buys more lithium
Ganfeng Lithium, one of the world’s largest lithium manufacturers for lithium-ion batteries, is about to purchase the remaining shares it does not already hold in the U.K.’s Bacanora Lithium, per Yicai Global.
- Taking full control of Bacanora means the company now owns one of the world’s largest lithium reserves.
- Together, Ganfeng and Tianqi Lithium, another Chinese company, make up the largest share of the world’s lithium market at 26%.
Beigene makes a profit thanks to government drugs list
Beigene, one of China’s most prominent new biotech firms that focuses on developing cancer treatments, has posted its first profit since its Hong Kong listing in 2018 (see reports in Chinese, English).
- The company said the profit came from three of Beigene’s drugs that were added last year to the country’s list of government-subsidized medicines.
- Biotech is a huge cutting-edge industry, but still reliant on old-fashioned distribution networks and government approvals.
The world’s biggest chemical company
China finalizes merger of two largest state chemical firms, creating Sinochem Holdings / Caixin (paywall)
Sinochem merged with ChemChina (China National Chemical Corp.) is “the firm behind the record-breaking purchase of Syngenta AG in 2017.”
Coal is still big business
China coal profits nearly double in first quarter / Caixin (paywall)
Electric and smart car frenzy news
In China’s biggest cities, one in five cars sold is now electric / Bloomberg (paywall)
China tech giants bet $19 billion on global electric car frenzy / Bloomberg (paywall)
Toyota-backed self-driving car Pony.ai partners with Luminar / CNA
Big Tech crackdown
An internet entrepreneur explains why he deleted a 1,000-year-old poem on his blog, wiping $16 billion off Meituan’s value / SCMP
Meituan shares slide after chief posts ancient poem / FT (paywall)
Beijing slaps fines on tutoring apps backed by Tencent, Alibaba / Bloomberg (paywall)
Jack Ma is alive and well
China digital yuan: Alibaba’s Ant joins e-CNY currency trial / CNBC
Jack Ma makes rare visit to Alibaba headquarters in Hangzhou / Reuters
TikTok parent has big ecommerce ambitions
ByteDance eyes a new $185 billion business ahead of mega IPO / Bloomberg (paywall)
More business and technology links:
- Chinese online insurer Waterdrop suffers 19.2% share price decline in NYSE debut / Caixin (paywall)
- Chinese telecom giants lose appeals of NYSE delistings / Caixin (paywall)
- China’s new bid to take on Elon Musk’s Starlink: a state-owned satellite enterprise / SCMP (paywall)
- Shenzhen-based Transsion targets South African youth market with new low-priced offering / China Africa Project
SCIENCE, HEALTH, AND ENVIRONMENT:
Rocket parts reenter atmosphere, land in Indian Ocean
China’s rocket debris landed near Maldives: Here’s what to know / NYT (paywall)
“Most of the debris burned up on re-entry Sunday morning, China said. The head of NASA accused it of ‘failing to meet responsible standards.’”
China rocket crash: U.S. blamed for hyping fears of uncontrolled rocket reentry as space race heats up / CNN
China defends handling of rocket that fell to Earth / AP via Washington Post
See also: Space journalist Andrew Jones’s tweet thread summary of Chinese analysis on rocket debris reentry — he concludes that this kind of uncontrolled reentry “will happen again for CZ-5B Y3 and Y4 in 2022.”
Fosun Pharma and BioNTech strike 50-50 joint venture to make mRNA vaccines for China
Fosun, BioNTech in $200 million China vaccine venture / Caixin
“Under the latest development in their tie-up, Fosun and BioNTech will set up a $200 million 50-50 joint venture in Shanghai that will initially produce the latter’s mRNA-based Covid-19 vaccine for sale in China, according to a Fosun announcement on Sunday. Fosun will contribute funds to build the high-tech facility for the drug’s production, while BioNTech will provide the intellectual property in the form of its Covid-19 vaccine co-developed with U.S. drug giant Pfizer.”
China on track for goal to vaccinate 560 million people by end of June
China administered total of 317.59 mln doses of COVID-19 vaccines as of May 8 / Reuters
The daily number of doses appears to be hovering around 9 to 10 million, which, if sustained, would put China’s total at about half a billion by the end of May.
Nearly 15 mln people in Beijing vaccinated against COVID-19 / Xinhua
“The Chinese capital had administered over 26.61 million doses of COVID-19 vaccines, with the vaccination rate among people aged 18 and over reaching 76.71 percent.”
Previously on The China Project: China approves fifth COVID-19 shot in push to vaccinate half a billion by end of June.
Brazilian town beats COVID by giving Sinovac shot to 98% of adults
A small Brazilian town is beating COVID-19 through a unique experiment / WSJ (paywall)
“The experiment in Serrana, a town in Brazil’s sugar-cane-producing savanna, provides hope for countries around the world…Infections are down 75% from a March peak in Serrana, while there have been no deaths from COVID-19 among the people who were fully vaccinated, suggesting CoronaVac is also effective against the aggressive P.1 variant sweeping the region.”
More science, health, and environment links:
- Chinese jabs dominate Latin American vaccination campaigns / FT (paywall)
“As Latin America struggles against a deadly third wave of the pandemic, China has shipped more than half of the 143.5m doses of vaccines delivered to the region’s 10 most populous nations, according to a Financial Times analysis of data provided by governments.” - China to draw ‘separation line’ on peak of Mount Everest / AP
“China will draw a ‘separation line’ atop Mount Everest to prevent the coronavirus from being spread by climbers ascending Nepal’s side of the mountain.” - China starts sending COVID-19 aid to India as U.S. dithers / Caixin Global (paywall)
“Since April, China has exported more than 21,000 oxygen generators, 5,000 ventilators, 21 million masks, and around 3,800 tons of medicine to India.”
POLITICS AND FOREIGN AFFAIRS:
China’s rising global media influence
When COVID hit, China was ready to tell its version of the story / NYT (paywall)
The International Federation of Journalists is set to release, later this week, a follow-up to its June 2020 study on China’s global media influence. The report will be “less the exposure of a secret plot than it is documentation of a continuing global power shift.”
NYT media columnist Ben Smith “spoke to journalists on five continents who participated in the report…Their attitudes ranged from alarm at overt Chinese government pressure to confidence that they could handle what amounted to one more interest group in a messy and complex media landscape.”
Limited international space for Taiwan
China denounces U.S. appeal for Taiwan to join WHO meeting / AP
Denmark draws China ire for inviting Taiwan leader to speak at ‘democracy summit’ / Reuters
Taiwan says will work with EU, other democracies on chips / Reuters
The Australian peddles biological warfare conspiracy theory, gets Global Times and Foreign Ministry response
Editorial: COVID as biological war? China paper needs answers / The Australian
The Chinese book at the bottom of SARS bioweapons claims that emerged amid coronavirus pandemic / SCMP (paywall)
“Material cited in Australian report easily available and written by professor who says his theory was not taken seriously.”
Australian media slammed for twisting open book as ‘evidence’ of ‘China weaponizing COVID-19’ / Global Times
U.S. biolab transparency urged after smearing China over weaponizing COVID-19 / Global Times
“It is the U.S. that is conducting biological warfare and bioterrorism using genetic engineering technology, rather than China, the Chinese Foreign Ministry said on Monday in response to a media report accusing China of weaponizing COVID-19.”
Philippines’ balancing act with China
Philippines plans military hub, sea cameras amid China row / Bloomberg (paywall)
Duterte says China vaccines won’t affect Philippines’ sea claims / Bloomberg (paywall)
Hong Kong under the national security law
Hong Kong police arrest 5 over alleged security law violations / HKFP
U.K. university tells lecturers not to record classes about Hong Kong and China, citing security law risks / HKFP
Xi marks 70th anniversary of Journal of Chinese Humanities
Xi calls for promoting innovative development of fine traditional Chinese culture / Xinhua (in Chinese here)
More politics and foreign affairs links:
- 2 face trial as China enforces online control amid pandemic / AP
- Biden looks for defense hotline with China / Foreign Policy (paywall)
- China blames ‘abrupt’ U.S. withdrawal for Afghanistan attack surge / SCMP (paywall)
- China-India border tension: PLA’s modified rocket launchers filmed on plateau facing India / SCMP (paywall)
- In China’s ‘Red Holy Land,’ tourists mark Communist Party centenary / AFP via Yahoo
- Inside the Communist Party’s private sector push / Sixth Tone
SOCIETY AND CULTURE:
Jilin glass bridge damaged by record-high winds
Strong winds leave tourist stranded on damaged glass bridge in China / CNN
Abuse and harassment cases
Child acrobats flee abusive school, found after 6 days / Sixth Tone
“The recent case of runaway child acrobats in southwestern China has again shed light on abusive practices by some grassroots training schools and prompted calls for better protections against the exploitation of minors.”
Celebrity doctor investigated for allegedly harassing dozens of women / Sixth Tone
“A celebrity dermatologist with 1.6 million social media followers has been suspended by his hospital pending an investigation over claims that he sexually harassed at least 75 women.”
More society and culture links:
