Links for Thursday, September 17, 2020

WORTH THINKING ABOUT

Pieces of news or analysis that caught our eye:

Is the TikTok deal in trouble again? The New York Times Dealbook has one answer:

People involved in the negotiations tell DealBook they’re exasperated, given the president’s mercurial wants, the hard line taken by Beijing and constantly shifting commercial terms. Asked what will happen next, one source sighed: “Who the hell knows?”

Reuters has several more reports on the TikTok saga:

• ByteDance says China will have to approve its U.S. TikTok deal / Reuters
  “U.S. President Donald Trump on Wednesday raised questions about ByteDance’s plans to keep a majority stake in TikTok’s U.S. operations and said he did not favor the idea of the Chinese firm retaining control, after six Republican lawmakers urged him to reject the proposal.”
• White House’s Meadows raises doubts about plan for Chinese-run TikTok / Reuters
• China ministry on TikTok urges U.S. to respect fair competition / Reuters
• U.S. investors set to own majority stake in TikTok Global / Reuters
  “U.S. investors, including Oracle Corp, are set to hold at least a 60% stake in TikTok, a person briefed on the matter told Reuters.”

On The China Project earlier this week: TikTok rejects Microsoft, proposes to make Oracle ‘trusted technology partner.’ Will Trump be satisfied?

MORE NEWS FROM AROUND THE WORLD

BUSINESS AND TECHNOLOGY:

• The WeChat “ban” is not actually a ban
  WeChat users won’t face legal penalty, U.S. says, as ban approaches / Bloomberg via Caixin
  “WeChat users who download the Chinese app for personal or business communications won’t be legally penalized by President Donald Trump’s executive order that will prohibit using the app for as-yet unspecified transactions, the U.S. Justice Department said Wednesday.”
• A new Unified National Network for broadband, pay TV, 5G, and internet service
  Disruptive new telco moves closer to prime time / Caixin (paywall)
• Customers rush to buy Huawei phones after semiconductor supply cutoff
  Huawei phone prices rise in China on fears of chip shortage / Reuters
  On The China Project yesterday: Huawei is now cut off from advanced semiconductors. What happens next?
• Upcoming Hong Kong IPOs
  U.S.-listed Chinese delivery firm ZTO Express plans to raise up to $1.6 billion in Hong Kong secondary listing / Caixin (paywall)
  Chinese companies race to list in Hong Kong before Ant’s mega IPO / Nikkei Asian Review (paywall)
  China’s Ming Yuan launches up to $800 million Hong Kong IPO: term sheet / Reuters
  Tencent-backed Kuaishou prepares for $5 billion Hong Kong IPO / Nikkei Asian Review (paywall)
  Kuaishou is valued at $28 billion, and has raised $4.4 billion in funding since it was founded in 2011.
• Bailout and restructuring of Peking University Founder Group
  Peking University’s indebted offspring lines up strategic investors / Caixin (paywall)
• Yitu considers a Shanghai IPO
  Another blacklisted Chinese facial recognition firm seeks mainland IPO / Caixin (paywall)
• Yihai Kerry is approved for potential $2 billion Shenzhen ChiNext listing
  Cooking oil giant gets go-ahead for possibly record-shattering Shenzhen IPO / Caixin (paywall)
• India-China tensions create disruptions and opportunities
  GM faces unexpected bills as India-China tensions delay sale of India plant: sources / Reuters
  YouTube Shorts launches in India after Delhi TikTok ban / Guardian
• One-year sports streaming deal
  English Premier League signs TV deal with China’s Tencent Sports / CNBC

SCIENCE, HEALTH, AND THE ENVIRONMENT:

• Chinese boats spent 73,000 hours fishing squid in one month
  Chinese fishing armada plundered waters around Galápagos, data shows / Guardian
• Moon rover launch on schedule for November
  China is quietly preparing for November launch of the Chang’e-5 lunar sample return mission / SpaceNews
• The dubious claims of Yán Lìmèng 闫丽梦
  Steve Bannon is behind bogus study that China created COVID / The Daily Beast
  ‘Artificial coronavirus’ study linked to Steve Bannon and Chinese fugitive Guo Wengui / SCMP

POLITICS AND CURRENT AFFAIRS:

• India-China border standoff
  India asks China to pull back troops, arms in Ladakh region / AP
  ‘It may be a long winter’: Singapore envoy amid India-China tension at LAC / Hindustan Times
• U.S. Congress Democrats focus on science and technology development
  Senate Democrats present $350 billion strategy to counter China / NYT (porous paywall)
  “The legislation focuses heavily on bolstering American research and development in science and technology, authorizing $300 billion over four years for such efforts and investing another roughly $16 billion in the U.S. semiconductor industry to help the United States retain an edge over Beijing.”
  Scott Kennedy on Twitter: “The Trump administration has rolled out new measures on China seemingly every day, but Congress has been busy, too. There have been 366 China-related bills introduced in the 116th Congress.”
• Hong Kong updates
  U.S. democracy watchdog gives freedom award to Hong Kong protesters / SCMP
  German think tank closes Hong Kong office over new law / AP
  Hong Kong formally objects to U.S. demand for ‘Made in China’ export label / Reuters
  Pro-democracy activist Sunny Cheung confirms that he fled Hong Kong, says his family and partner were harassed / HKFP
• Xinjiang updates
  H&M cuts ties with Chinese supplier over accusations of ‘forced labor’ / AFP
  European chief singles out China’s moves on Hong Kong, Xinjiang as she unveils new sanctions scheme / SCMP
• Europe’s hardening line on China
  China, once Germany’s partner in growth, turns into a rival / WSJ (paywall)
  Nine EU parliamentarians and experts call for change in ‘one China’ policy, urging support for Taiwan democracy / HKFP
  Italy hardens stance on China, in line with EU investment push / Bloomberg (porous paywall)
  Adrian Zenz on Twitter: “Thread: In a tense exchange, the three EU leaders at the summit drew Xi’s attention to China’s human rights issues one by one — from Hong Kong, Xinjiang, Tibet, bookseller Gui Minhai and Canadians Kovrig and Spavor.”

SOCIETY AND CULTURE:

• Bào Yùmíng 鲍毓明 rape case concludes with no charges
  Investigation finds ‘insufficient evidence’ in foster daughter rape case / Sixth Tone
  On The China Project in April: ZTE executive accused of years-long sexual abuse by foster daughter.
• Child custody in lesbian couple dispute decided on parental relationship, not genetic grounds
  Court rules on LGBT couple’s landmark child custody case / Sixth Tone
• Taoist art at the Keelung Ghost Festival in Taiwan
  For the dead / NeoCha
• Stamp and calligraphy collection stolen in Hong Kong
  $500 million worth of Chinese communist memorabilia reportedly stolen from collector’s apartment / AFP via CBS