Highlighted links for Thursday, December 1, 2022

Below are links to other noteworthy reports published in the last 24 hours from and about China.

BUSINESS AND TECHNOLOGY:

Kuaishou wants to own ecommerce pipes, but has China’s livestream shopping market peaked?
Kuaishou to build its own supply and delivery chain amid ecommerce push: report / TechNode
“Chinese short video platform Kuaishou is reportedly considering building its own one-stop supply chain, which it hopes would allow users to purchase goods for cheaper and receive deliveries faster, Chinese media outlet LatePost reported on Wednesday.”
China’s livestream shopping craze hits a ceiling / Rest of World
“Bytedance is looking for other ecommerce revenue streams even as TikTok plans to bring the trend to the U.S.”

Is sodium the next lithium?
Chinese firms talk up sodium battery as alternative for EVs / Caixin (paywall)
“Chinese battery-makers are accelerating research and production of sodium-ion batteries in the hope of tapping a new vein in the electric vehicle (EV) industry as it debates the cost of the alternative to lithium-based energy storage.”

• See explainer on The China Project: The sodium battery era is coming soon.

Factory services shrink
China’s manufacturing activity contracts again, Caixin PMI shows / Caixin (paywall)
“November’s reading came in at 49.4 as COVID outbreaks and stringent measures to contain infections weighed on both supply and demand.”

Apple and Foxconn’s COVID-zero woes
Zhengzhou Foxconn plant production capacity drops to 20% in November / TechNode
“TF International Securities analyst Ming-Chi Kuo released a new report on iPhone shipments on Wednesday, lowering his expected shipments of 14 Pro models by 20% to 70 million – 75 million units in the fourth quarter of 2022.”
IPhone City maintains plant curbs as China tweaks COVID approach / Bloomberg (paywall)
“Apple Inc.’s most important iPhone assembly plant remains in a closed-loop operation that curtails workers’ movement on campus, potentially complicating the effort to resume full production.”

China hits back at U.S. telecom ban
China will move to protect its firms following U.S. telecoms ban / Reuters
“China opposes the U.S. Federal Communications Commission’s ban on new Chinese telecommunications equipment sales, the commerce ministry said on Thursday, vowing to adopt necessary measures to safeguard the rights of its domestic firms.”

Tesla to fix software defect in China-made cars
Tesla to fix rear lighting issue on over 435,000 China-made cars / Bloomberg (paywall)
“Tesla Inc. will conduct an over-the-air software update on more than 435,000 electric vehicles made at its factory in China due to a rear-lighting defect.”

Q&A site rakes in revenue
Zhihu posted revenue of $128.2 million, beating estimates / TechNode
“Chinese Quora-like platform Zhihu reported revenue of 911.7 million yuan ($128.2 million) for the third quarter of 2022 on Wednesday, a 10.7% yearly increase.”

Nickel giant to list in HK IPO
Chinese nickel producer to debut in Hong Kong after $470m IPO / Bloomberg (paywall)
“Lygend Resources & Technology Co., a Chinese nickel producer and trader, advanced in its Hong Kong debut on Thursday, the first among eight newcomers to list in the Asian financial hub this month.”
China nickel producer makes Hong Kong IPO debut amid EV growth / Nikkei Asia (paywall)

SCIENCE, HEALTH, AND ENVIRONMENT:

China is a real space power
China’s finished space station adds spark to global race above skies / Nikkei Asia (paywall)
“This week’s launch of a fresh crew to China’s Tiangong space station marked another milestone in the country’s march toward becoming a power in space, even as age and internal conflict hamper its Western counterpart, the International Space Station.”

Bronze Age culture in Sichuan
Photo essay: Mysteries remain at famed Chinese archeological dig / Caixin (paywall)
“Excavation at Sanxingdui Ruins near Chengdu was restarted in 2019 in a bid to better understand the intriguing history behind the myriad of bronze and gold artifacts.”

POLITICS AND FOREIGN AFFAIRS:

The West is wary over China dependency
German strategy paper targets China trade dependence – news portal / Reuters
“Economy Minister Robert Habeck wants to make Germany more independent from China for trade by focusing on alternative markets, news portal The Pioneer reported, citing a strategy paper it said Habeck adopted this week.”
NATO’s Stoltenberg cautions against economic dependency on China / Reuters

China’s censors are working overtime to keep a lid on protest content
Chinese users play cat-and-mouse with censors amid protests / AP
“Videos of hundreds protesting in Shanghai started to appear on WeChat Saturday night. Showing chants about removing COVID-19 restrictions and demanding freedom, they would only stay up for only minutes before being censored.”

Frustrated and jobless youth backing China’s anti-COVID-zero protests
Behind Chinese COVID protests, economic worries simmer among youth / WSJ (paywall)
“Demonstrations about COVID controls also reflected young people’s anxiety over job prospects, raising stakes for Beijing to reignite growth.”

IMF chief to visit China to talk about COVID, economy, and debt restructuring
IMF strategy chief heads to China, to focus on speeding up debt treatments / Reuters
IMF’s Georgieva to discuss economy, COVID with Chinese authorities / Reuters

Beijing cracks down on telecom and online fraud
China’s anti-telecom and online fraud law comes into effect / Sixth Tone
“China’s first telecom and online fraud law came into effect Thursday, aiming to combat scammers that have long swindled people and resulted in huge financial losses.”

SOCIETY AND CULTURE:

China’s cynical youth put their hopes in Hong Kong
Chinese students and young workers look to Hong Kong for a better future / FT (paywall)
“Beijing’s zero-COVID policy fuels [an] increase in people moving to former British colony.”

Fans accuse celebrity of cashing in on her fame
Pop idol Ouyang Nana slammed for expensive clothing line / Sixth Tone
“Fans of popular cellist-turned-actress Ōuyáng Nànà 歐陽娜娜 are not happy with the price tags on her new fashion line, with many accusing her and other celebrities of commercializing their fandom.”

Film explores a traditional secret writing system for Chinese women
Hidden Letters review – Chinese art of secret writing as refuge of female solidarity / Guardian
“The nǚshū 女书 system, still practiced in China, reveals a long history of women’s frustrations and the solace this art provides.”