Links for Tuesday, December 8, 2020

BUSINESS AND TECHNOLOGY:

• IPO application supervision is tightening  
  Ant Group’s IPO debacle triggers tougher scrutiny of new listings / Caixin (paywall)
  “Two IPO applications have recently been rejected outright by the STAR Market — one in September and one in November. Of the eight applications that have been suspended this year, three took place in November, including Ant Group. In November, ChiNext rejected an application from a Jiangsu-based software developer, the first such decision since the decade-old board revamped its listing regime in August to allow registration-based IPOs…
  The chairman of one fintech company, which had previously planned to list on the STAR Market told Caixin it decided to shift its IPO to Hong Kong in the wake of the tougher regulatory environment.”
• Beijing defends fintech regulation
  Fintech giants could pose ‘new systemic risks,’ warns banking watchdog chief / Caixin (paywall)
  “The broad range of tech firms’ financial activities necessitate ‘timely and targeted’ regulatory intervention, Guo Shuqing says.”
  China going after Big Tech’s monopoly in financial data to curb abuses and protect privacy, says regulator / SCMP
• Chinese 5G scrutiny in Brazil and Finland
  Brazil looks for legal options to ban China’s Huawei from 5G: sources / Reuters
  Finland passes 5G security law banning suspect gear / Caixin (paywall)
• Goldman gets all of its Chinese securities business
  Goldman Sachs shifts to full ownership of China securities joint venture / Reuters
  Goldman Sachs moves to acquire 100% of China securities joint venture / WSJ (paywall)
• TikTok ban gets blocked, again
  Second US judge blocks Commerce Department curbs on TikTok / Reuters via Nikkei Asia
  TikTok download ban is blocked by second judge / WSJ (paywall)
• Another app cleanse
  China removes TripAdvisor, 104 other apps from stores under cleansing campaign / Reuters
• Shanghai is 10th place in Global Power City Index
  Shanghai jumps into global Top 10 of attractive cities / Nikkei Asia (paywall)
  “The city leapt to 10th from 30th last year, improving its score in all six categories of economy, R&D, cultural interaction, livability, environment and accessibility. It earned the highest increase in workstyle flexibility in the wake of the pandemic.”
• Car sales rise for fifth month in a row
  China car sales rise again, cementing pandemic recovery / WSJ (paywall)
  “Passenger car sales grew 8% to 2.1 million vehicles last month from a year earlier, the China Passenger Car Association said Tuesday. In October, sales rose by 8%.”
  Chip supply crunch likely to hit China’s auto output in first quarter 2021: industry body / Reuters
• Should toilet paper dispensers have facial recognition technology?
  Face-scanning Chinese public toilet is bog standard once again / Caixin (paywall)
  “A backlash has led authorities in the southern city of Dongguan to remove toilet paper dispensers equipped with facial recognition technology from a public restroom.”
• Australia trade pressure
  China boycott to hit Australian wine harder than expected as fruit and vegetable prices rise / Guardian
  China suspends halts importation of more Australian beef as trade battle escalates / Australian ABC
  Beijing bans beef exporter with ‘mislabelling’ track record / SCMP

SCIENCE, HEALTH, AND THE ENVIRONMENT:

• Five COVID cases in Chengdu, as Hong Kong tightens restrictions
  COVID-19 resurgence in southwestern metropolis raises fear of further spread / Caixin (paywall)
  Hong Kong plans partial lockdowns for COVID-19 hotspots and more tests, as number of new infections surges / HKFP
• Vaccine diplomacy
  Morocco to use Chinese vaccine to kick off mass vaccinations / AP
  “Morocco’s government seeks to vaccinate 80% of its adults, or 25 million people, as soon as the vaccines are approved by domestic regulators… It will start with the Sinopharm vaccine, which was tested on 600 Moroccans as part of clinical trials this autumn. Morocco has ordered 10 million doses of the vaccine.”
  Related, on The China Project yesterday: China begins mass distribution of COVID vaccines.
• Mount Everest measurement
  China, Nepal say Everest a bit higher than past measurements / AP
  “The new height of the world’s highest peak is 8,848.86 meters (29,031.7 feet), which is slightly more than Nepal’s previous measurement and about four meters (13 feet) higher than China’s.”
  Mount Everest grew two feet in height, say China and Nepal / NYT (porous paywall)
  Chinese, Nepali presidents exchange letters, jointly announcing Mt. Qomolangma’s height / Xinhua (Chinese version here) 
• Pandas love horse poop
  Why are pandas covering themselves with horse manure? / NYT (porous paywall)
  Pandas rub themselves in horse manure to feel warm, study finds / Sixth Tone
• HIV status privacy
  Yunnan authorizes doctors to reveal patients’ HIV status to partners / Sixth Tone

POLITICS AND CURRENT AFFAIRS:

• Taiwan arms sales, and other friction in U.S.-China relations
  Washington approves $280 million arms sale to Taiwan / SCMP
  Timeline: U.S. arms sales to Taiwan in 2020 total $5 billion amid China tensions / Reuters
  China condemns new U.S. Hong Kong sanctions, Taiwan arms sale / AP
  U.S. diplomat summoned by Beijing for formal protest against sanctions on top Chinese lawmakers / SCMP
• How much will Biden officials change China policy?
  U.S. under Biden could reboot Canada-China ties by dropping Meng Wanzhou extradition, Canadian ex-officials say / SCMP
  Jeffrey Prescott, Joe Biden aide noted for experience and calm, may become point person on China / SCMP
  Biden’s pick for defense chief unlikely to change China policy, analysts say / SCMP
• Hong Kong’s new reality
  Pro-mainland Chinese financiers launch new Hong Kong party aimed at Legco reform / SCMP
  Hong Kong’s Carrie Lam rebuffs complaints of ‘political revenge’ by exiled democrat Ted Hui after bank accounts frozen / HKFP
  Hong Kong police arrest 8 more opposition figures, inc. ‘Long Hair’, Eddie Chu, Figo Chan, Wu Chi-wai / HKFP
  Hong Kong church says HSBC account frozen ‘in retaliation’ for helping protesters last year / HKFP
  Bank account freezes in Hong Kong rekindle worries about asset safety / Reuters
  See also a tweet from Jake Sullivan, Biden’s nominee for national security adviser: “I’m deeply concerned about the continuing arrests and imprisonment of pro-democracy activists in Hong Kong. We stand united with our allies and partners against China’s assault on Hong Kong’s freedoms — and to help those persecuted find safe haven.”
• Xinjiang and Uyghurs
  Huawei tested AI software that could recognize Uyghur minorities and alert police, report says / Washington Post
  XPCC cotton ban: A new U.S. rule could intervene in the genocide of Uyghurs / Washington Post
• Australia-China relations — they’re still bad
  Australia government gains new power to scrap foreign pacts / AP
  Australia passes law that can scrap China Belt and Road accords / Bloomberg (porous paywall)
  Economic decoupling from China would be ‘act of national self-sabotage’, Labor and Liberal MPs agree / Guardian
  Labor says government must explain claim it called for COVID inquiry so it could make an announcement / Guardian
  Kevin Rudd says Scott Morrison’s ‘public relations eggbeater’ is harming relationship with Beijing / Guardian
  Australia’s act that sparked feud, trade war and Twitter row with China / News.com.au
  How Australia’s stance on South China Sea, 5G and coronavirus put it in China’s crosshairs / Sydney Morning Herald
  Nine entertainment newspapers quit carrying China Watch supplement / Guardian
• Spy case in U.S.
  How a suspected Chinese spy gained access to California politics / Axios
  “A suspected Chinese intelligence operative developed extensive ties with local and national politicians, including a U.S. congressman, in what U.S. officials believe was a political intelligence operation run by China’s main civilian spy agency between 2011 and 2015, Axios found in a yearlong investigation.”
  U.S. boosts China spying budget to meet growing economic, national-security threat / WSJ (paywall)
  “The U.S. is increasing the portion of the spying budget devoted to China by nearly one-fifth this year… While the precise amounts are classified, the officials said spending on China is being boosted across the roughly $85 billion annual intelligence budget to glean secrets from the country, analyze its current actions and predict its future course.”
• Japan-China relations
  China’s naval activity in Japanese waters is concern, Japan lawmaker says / CNBC
  Japan sends top diplomat on Africa trip to offset China tilt / Nikkei Asia (paywall)

SOCIETY AND CULTURE:

• The view from Wuhan, a year after the COVID outbreak
  A year on, markets bustling in Chinese city where COVID-19 emerged / Reuters
  “Wearing face masks is not mandatory, but most people do so in public. And while shoppers have returned to Wuhan’s streets, [shopkeepers] say business is yet to return fully to normal.”
• Millennial and Gen Z Chinese who find China to be too capitalist
  Fed up with capitalism, young Chinese brush up on ‘Das Kapital’ / Sixth Tone
  “With a new generation increasingly burned out by the ‘996’ grind and liberal platitudes of their elders, can Marxism make a comeback?”
• Divorce rules and domestic abuse
  ‘Cooling off’ periods for divorcing couples could put abuse victims in danger, critics say / Caixin (paywall)