Links for Wednesday, November 11, 2020

WORTH THINKING ABOUT

Pieces of news or analysis that caught our eye:

Is the TikTok ban still happening? A November 12 deadline set by the Committee on Foreign Investment in the United States (CFIUS) is nearly here for parent company ByteDance to relinquish an amount of control over the U.S. operations of its hit video app. But the exact amount of control and a variety of other details were never clearly communicated by Trump or his associates. Now the Verge reports: TikTok says the Trump administration has forgotten about trying to ban it, would like to know what’s up:

TikTok has filed a petition in a U.S. Court of Appeals calling for a review of actions by…CFIUS. The reason, according to the company, is that it hasn’t heard from the committee in weeks about an imminent deadline for parent company ByteDance to sell off U.S. assets over national security concerns.

Perhaps TikTok will remain in legal limbo until January 20. Or perhaps Mike Pompeo — who Bloomberg says is “not finished yet” with anti-China moves during his time in office — will, together with Trump, begin to amplify conspiracies about Chinese election interference and tie them to TikTok.

MORE NEWS FROM AROUND THE WORLD

BUSINESS AND TECHNOLOGY:

• Tech stocks on track for worst week ever after antitrust regulation announced
  $250 billion wiped off Chinese tech stocks as Beijing signals crackdown / CNN
  Alibaba leads Chinese internet selloff nearing $290 billion / Bloomberg via Yahoo
  Down $290 billion, China tech investors wargame worst-case scenarios / Bloomberg (porous paywall)
  The China Project coverage yesterday: After Ant IPO suspension, Beijing eyes antitrust regulation for tech sector.
• JD Digits hit by microlending restrictions as it waits for Shanghai IPO approval
  JD.com’s fintech unit may stumble before IPO as tough new draft rules shake small-loans sector / Caixin (paywall)
• Boosting consumer finance while restricting microlending
  Banking watchdog loosens rules to encourage consumer finance companies to lend more / Caixin (paywall)
• ByteDance reportedly narrows ad revenue gap with Alibaba
  Exclusive: TikTok-owner ByteDance to rake in $27 billion ad revenue by year-end – sources / Reuters
  The projected numbers for ByteDance would “cement its no. 2 spot in China’s digital ad market” after Alibaba.
• Shanghai import expo results
  China’s firms sign US$73 billion worth of deals at flagship Shanghai import expo / SCMP
• Yongcheng Coal default
  State-owned coal miner’s $150 million default threatens debt-ridden parent / Caixin (paywall)
• “Smart agriculture” at demonstration zone in Jiangsu Province
  The future of agriculture arrives in China, on the state’s dime / Caixin (paywall)
  “Caixin visited the International Agricultural Cooperation Demonstration Zone of Donghai county, in Jiangsu, where a hydroponic self-planting farm is in advanced development.”
• Dalio praises Ant IPO suspension as his firm rakes in the cash
  Bridgewater’s Dalio supports Ant IPO suspension, bullish on China / Reuters
  Dalio’s Bridgewater expands China assets with 22% annual return / Bloomberg (porous paywall)
• Singles’ Day sales
  Alibaba’s Singles Day sets record with help from livestreaming / Nikkei Asia (paywall)
  “By 8 p.m. on Wednesday Alibaba said buyers had snapped up 467.5 billion yuan ($70.6 billion) of goods.”

SCIENCE, HEALTH, AND THE ENVIRONMENT:

• Miles of smoke, but no injuries or deaths from explosion in Zhejiang Province
  Explosion at East China chemical plant unleashes toxic plume / Caixin (paywall)
• Brazil vaccine trial resumes after pause
  COVID: Brazil allows resumption of Chinese vaccine trial / BBC
  Event that caused Brazil trial for Chinese vaccine to be suspended was suicide: TV Cultura / Reuters
• Vaccine testing and production
  China’s Sinopharm says data ‘better than expected’ from unit’s COVID-19 vaccine trials / Reuters
  Uzbekistan to carry out late-stage trial of Chinese COVID-19 vaccine candidate / Reuters
  China’s Rhodiola set to sell and test Russia’s Sputnik-V vaccine / Reuters
• COVID preparedness in China and Hong Kong
  Zhang Wenhong: The darkest period of COVID-19 is behind us / Caixin (paywall)
  Hong Kong reveals plans to step up border controls to shield city from COVID-19 rebound, as warning signs of new wave emerge among drivers / SCMP
  The U.S. has absolutely no control over the coronavirus. China is on top of the tiniest risks. / Washington Post
  Shanghai quarantines 186 after case at airport / AP
  China isn’t letting up on lockdowns to crush coronavirus / Bloomberg (porous paywall)
  China suspends fish imports from Indonesian firm after coronavirus detected / Reuters

POLITICS AND CURRENT AFFAIRS:

• Regional Comprehensive Economic Partnership expected to be signed this weekend
  Asian leaders to sign China-backed trade deal amid U.S. election uncertainty / Reuters
  China and 14 other nations ready to sign RCEP, world’s largest trade deal, before change of leadership in US / SCMP
• U.S. and Taiwan to have “Economic Prosperity Partnership Dialogue” on November 20
  U.S. to hold economic talks with Taiwan this month: Pompeo / Reuters
  China urges U.S. to stop increasing ties with Taiwan / Reuters
• India-China border standoff
  India, China finalizing phased disengagement plan / The Hindu
  India, China on verge of reaching agreement to resolve border standoff in eastern Ladakh / The Tribune India
  Visual explainer: Who has the upper hand in China-India border dispute? / SCMP
  Next Ladakh? In India-China stand-off, a new front looms in Pakistan’s Gilgit-Baltistan / SCMP
  India’s latest ‘boycott China’ move involves cow dung Diwali lights / SCMP
  Could China’s new dam plans unleash more trouble with India? / SCMP
  President Xi orders advancing construction of rail line close to Arunachal Pradesh / Press Trust of India
• Australia-China tensions
  China-Australia relations: Canberra ‘should know’ how to improve relationship, Beijing says / SCMP
  China-Australia relations: Iron ore demand powers ahead as Fortescue secures US$4 billion in deals / SCMP
  800 million Chinese shoppers stayed awake overnight to snap up ‘over $1 billion’ in Australian goods despite trade tensions / Australian ABC
• Canada-China relations
  Trudeau says Canada will not bow to China’s ‘coercive diplomacy’ / Reuters
• Taiwan, Lithuania, APEC, and the U.S. Marines
  Lithuania to support ‘those fighting for freedom’ in Taiwan / Reuters
  Taiwan’s Tsai Ing-wen taps TSMC’s Morris Chang to represent island at APEC / SCMP
  Annual project for U.S. Marines to train Taiwanese troops goes ahead / Focus Taiwan

SOCIETY AND CULTURE:

• Chinese people look forward to a Biden presidency
  “The Biden era is approaching”: Discussions of U.S.-China relations under the ‘Sleepy King’ / What’s on Weibo
  Biden win renews hope for Chinese students’ study abroad plans / Sixth Tone
  Joe Biden: Chinese villagers remember president-elect’s 2001 visit / SCMP
  Previously on The China Project: ‘The Trump reality show is over’: Chinese social media users react to Biden’s presidential win.
• Documentary about 1973 visit to China by Philadelphia Orchestra
  ‘Beethoven in Beijing’ film captures Philadelphia Orchestra’s historic visit to China / Pittsburgh Post-Gazette
• Hate crime in Washington, D.C.
  Valley Brook tea shop reports hate crime against Chinese owner / Eater DC