Links for Thursday, November 5, 2020

BUSINESS AND TECHNOLOGY:

• Ant Group IPO suspension could last “at least six months”
  Ant Group IPO faces at least 6-month delay after Beijing intervention / FT (paywall)
  Would-be Ant investors in $9 billion strategic funds demand money back / Caixin (paywall)
  ‘The party is pushing back’: why Beijing reined in Jack Ma and Ant / FT (paywall)
  Inside the chaotic unraveling of Jack Ma’s $35 billion IPO / Bloomberg (porous paywall)
  How billionaire Jack Ma fell to earth and took Ant’s mega IPO with him / Reuters
  Reuters reports that after his speech criticizing regulators, the “general office of the State Council compiled a report on public sentiment about Ma’s speech and submitted it to senior leaders including President Xí Jìnpíng 习近平… Top Chinese leaders then became more involved and asked for a thorough investigation of the company’s business activities, which eventually led to the halting of the world’s biggest IPO.”
• Alibaba reports strong revenue growth, but backs out of healthcare sector investment
  Alibaba revenue up 30% as virus drives demand for e-commerce / AP
  Market wonders over Alibaba selling down stake in medical checkup specialist / Caixin (paywall)
• Bytedance worth $180 billion?
  TikTok owner ByteDance in fundraising talks that will value it at $180 billion: sources / Reuters
  TikTok owner ByteDance on hiring spree in China amid U.S. troubles; aims to recruit 10,000 by year-end / SCMP
  ByteDance to invest $165m in Chinese e-book reader Zhangyue / Tech in Asia
• IPOs for Kuaishou and Yitu
  TikTok’s rival Kuaishou files for Hong Kong IPO / PingWest
  Facial recognition firm Yitu steps closer to STAR market listing / Caixin (paywall)
• 5% GDP growth for the next five years?
  China considers 5% annual GDP growth target for next five years: sources / Reuters
• Hit indie video game gets copied by Chinese studio
  Among Us clone shoots to the top of the charts in China / Gamespot
• Major steelmakers report around 50% growth in Q3
  Recovering demand leaves China’s steelmakers rolling in profits / Caixin (paywall)
• Shanghai Futures Exchange to launch futures based on shipping indexes
  New indexes debut tracking shipping prices from China to U.S., Europe / Caixin (paywall)
• Semiconductors: Nvidia purchase of Arm China in danger
  Battle at Arm China threatens $40bn Nvidia deal / FT (paywall)
  “China joint venture chief sues chip designer and takes control of shareholders.”

SCIENCE, HEALTH, AND THE ENVIRONMENT:

• U.S. leads in sea plastic pollution, not China, says new study
  New research says China no longer biggest sea plastic polluter / Sixth Tone
• Quotas for days of heavy pollution
  China rolls out smog rules for polluted north — that Beijing has already broken / Caixin (paywall)
  “A plan jointly issued last week by six government ministries and seven provincial-level governments restricts Beijing to just one day of heavy pollution between October and December, despite the fact that the city of 21 million people already recorded three such days in October.”
• Pushing back on illegal fishing near South America
  ‘Prevent, discourage, confront’: South American states tackle Chinese fishing boats / AFP via Guardian
• Shanghai Green Valley begins recruitment for U.S. Alzheimer’s drug trial
  China Alzheimer drug seeks global legitimacy with U.S. trial / Sixth Tone

POLITICS AND CURRENT AFFAIRS:

• Australia-China tensions get worse, again
  Australia charges first person under foreign interference law / Reuters
  “A federal police statement did not give details about which foreign state the 65-year-old man was accused of acting for…[but] Di Sanh Duong…holds senior positions in a number of Chinese community associations in the state of Victoria, including the Oceania Federation of Chinese Australians, and the Chinese Museum, according to organisation records seen by Reuters, websites and press statements.”
  China-Australia trade at ‘freezing point’ as 200 percent wine duty looms / SCMP
  Australia’s Treasury Wine shelves Penfolds spinoff as China weighs tariffs / WSJ (paywall)
  Australian exporters scramble as fears of more China trade bans grow / Guardian
  Related The China Project coverage: Beijing continues to punish Australia, hobble WHO to prevent independent COVID-19 investigation.
• Import expo in Shanghai
  China opens import expo under anti-disease controls / AP
  COVID vaccines, tests take center stage at Shanghai trade expo / Sixth Tone
  Shanghai trade expo sees massive crowds, strict health measures / Sixth Tone
• Hong Kong under the national security law
  RTHK Radio 3 to play Chinese national anthem daily from mid-November — sources / HKFP
  Hong Kong police launch national security law tip-off line for WeChat, SMS and email / HKFP
  China’s clampdown on Hong Kong / New York Review of Books
  Barbara Demick reviews several recent books on Hong Kong’s year of protests leading up to the national security law.
• The new German view on China?
  Germany’s defense chief calls China a ‘systemic challenge’ as Berlin ramps up military presence in Asia / SCMP
• Japan and China: Choppy waters in East China Sea
  East China Sea: Japan’s plan to counter Beijing in Diaoyus with jetfighter upgrades hits money snag / SCMP
  China to allow coast guard to use weapons in waters it claims / Japan Times
  Bonnie Glaser on Twitter: “If true, this is quite worrisome. Will lead to increased potential for violence in disputed waters.”

SOCIETY AND CULTURE:

• Affirmative action proposal fails again in California
  Measure to restore affirmative action in California fails / WSJ (paywall)
  “Opponents were led in part by a vocal contingent of Asian-American activists who helped derail a similar effort in 2014. They raised just over $1.6 million, with support from a group funded by conservative legal activist Ed Blum and small donations from Chinese-American individuals.”
  The China Project reporting by John Pomfret looking back on 2014: The split at the heart of Chinese America.
• K-pop band poses with panda, breaking health regulations
  Blackpink and angry — social media criticize K-pop band touching baby panda / Caixin
  “China loans the animals out with a number of strict rules and regulations to protect their welfare, such as banning non-professionals from touching them or coming into close contact with them.”
• Food delivery now available at Daxing International Airport in Beijing
  Food delivery service Ele.me solves the problem of bad airline food / Caixin