Editor’s note for Thursday, January 14, 2021

My thoughts today: 

Today we publish our annual Red Paper, a review of the past year and a look ahead at what’s coming: read it here. In our introduction, we make a number of predictions, including that “China will legalize and begin to certify genetically modified crops (popularly known as GMOs), and invest heavily in the development of homegrown GMO seeds.” 

Today, there are signs that our prediction is already coming true: “China approved two genetically modified corn varieties from Bayer AG and Syngenta AG for imports as demand for animal feed surges,” reports Bloomberg. A “GMO corn and soy variety developed by local company Beijing Dabeinong” is also set for approval, while “Safety certificates of three GMO cotton types from BASF SE and Syngenta have also been extended for imports to China.” 

See also, from the Pekingnology newsletter: After microchips, what’s the next big (small) thing on Beijing’s self-reliance list?.

Xi’s cappuccino diplomacy? In a “reply letter,” Xí Jìnpíng 习近平 “encouraged Howard Schultz, Starbucks Corporation’s chairman emeritus, and the company to continue to play a positive role in advancing China-U.S. economic and trade cooperation and bilateral ties,” according to Xinhua News Agency, in a report widely disseminated by English-language state media. Starbucks has a lot of money at stake in China, so Schultz will probably be an enthusiastic messenger. 

Cynicism aside, this is perhaps the friendliest gesture Xi has made towards the U.S. in many, many months. Will the incoming Biden administration reciprocate? And if they do, what actions would be appropriate? 

“From visas to tech bans, Biden should undo Trump’s needlessly confrontational damage – on condition that China takes equivalent steps back,” argues Stephen Orlins, president of the National Committee on US-China Relations in a new op-ed. 

Our word of the day is China National Offshore Oil Corporation, or CNOOC (中国海洋石油集团 zhōngguó háiyáng shíyóu jítuán). 

Upcoming events:

• On January 27, join us as we hear from the chief researcher of the Hurun Report China Rich List.
• Tickets for the 2021 Serica Annual Gala are available now. The general session is free, but tickets are also available for purchase to network with our gala speakers and honorees in a virtual cocktail room. 

—Jeremy Goldkorn, Editor-in-Chief