Links for Monday, March 8, 2021

BUSINESS AND TECHNOLOGY:

• Commercial satellite startup bags millions amid potential space war
  Satellite startup Qiansheng raises fresh capital as space race intensifies / Caixin (paywall)
  Qiansheng Exploration Technology, a Beijing-based satellite developer, raised (in Chinese) 100 million yuan ($15 million) in the series A funding led by a development fund backed by the local government of Fuzhou in the southwestern Jiangxi Province.
  • Qiansheng is working on sending in total 20 commercial remote-sensing satellites that can provide high-definition images “for applications including national defense, agricultural production, environmental monitoring, and natural disaster relief.”
  • The company said it will use the new funding to build its satellite constellation and smart satellite manufacturing plant.
• JD’s fintech unit may give up on IPO amid regulatory pressure
  JD.com may withdraw fintech unit’s stock sale in Shanghai’s Star Market after restructuring at JD Technology, sources say / SCMP (porous paywall)
• Quora clone grows up — China’s largest Q&A app files for U.S. IPO
  Chinese Q&A app Zhihu files for US IPO / KrASIA
  China’s Quora-like Zhihu aims to raise $1 billion via U.S. IPO / Yicai
  Founded in 2010, Zhihu was considered a copycat of Quora in the U.S., but now offers a much broader range of services than its American peer, and said it had 43.1 million users as of the end of 2020.
• Beijing steps up battle against U.S. sanctions
  NPC report: China to speed up legislation to fight U.S. sanctions / Bloomberg (porous paywall)
  Beijing is to speed up introducing legislation to counter U.S. sanctions, according to Lì Zhànshú 粟战书, the National People’s Congress Standing Committee chairman.
  This comes after China’s commerce ministry on January 9 issued new rules requiring companies based in China, including multinationals, not to comply with U.S. sanctions, possibly under threat of punishment.
• Herbal beverage giant to seek Hong Kong IPO
  Herbal tea maker JDB said to seek new funds before Hong Kong IPO / Bloomberg (porous paywall)
  JDB Group is the producer of Jia Duo Bao herbal tea — a popular non-alcoholic beverage that is marketed as a spicy and oily food relief drink based on Chinese medical principles, which has a complicated IPR history.
• Flying under fire — DJI in the U.S.
  Game of drones: Chinese giant DJI hit by U.S. tensions, staff defections / Reuters
• JD joins hands with high speed train operator for logistics
  JD Logistics hops on China’s high-speed rail with new joint venture / Caixin (paywall)
  “Delivery company’s new tie-up with China Railway comes as the former moves ahead with a Hong Kong IPO.”
• GSX loses money despite revenue bump
  Online educator GSX returns to losses despite dramatic revenue growth / Caixin (paywall)
  Earlier on Supchina: Will Chinese education company GSX Techedu survive allegations of fraud?
• Beijing targets fake vaccine for pigs
  China cracks down on illegal vaccines as swine fever risks mount / Bloomberg (porous paywall)
• Pandemic hit China’s social insurance account
  China’s social insurance funds report first deficit on record / Caixin (paywall)
  “The shortfall resulted from a policy to temporarily cut corporate contributions to take some of the pressure off companies reeling from the pandemic.”
• Less carbon, more state subsidy
  State-owned utilities raise 9 billion yuan via new ‘carbon neutral bonds’ / Caixin (paywall)
  “Four of China’s five biggest state-owned electricity utilities are capitalizing on the country’s red-hot ‘carbon-neutral bond’ market, raising up to $1.38 billion in recent weeks as they race to develop renewables facilities under an ambitious national carbon-emission drive.”
• Full 5G coverage in 5 years?
  China aims to complete the construction of 5G network in 5 years: MIIT / Global Times
• Hebei Province’s Jizhong Energy Group misses two bond payments
  Another state-backed coal firm misses bond payments as regulator pledges ‘zero tolerance’ / Caixin (paywall)
• Will data privacy be protected for facial recognition?
  Six CPPCC members jointly call for stronger facial recognition supervision in China / Global Times
  “Six delegates of China’s top political advisory body jointly called for the strengthening of facial recognition supervision in China amid increasing abuse of personal information, including facial recognition, in the whole society.”

SCIENCE, HEALTH, AND THE ENVIRONMENT:

• Vaccine diplomacy and health travel certificates
  India seeks funds from Quad alliance to match China’s vaccine push: source / Reuters
  Vietnam begins COVID-19 vaccination drive without China-made shots / SCMP (porous paywall)
  China says it’s ready to provide vaccines to overseas Chinese, Olympians / Reuters
  China’s ‘two sessions’: Beijing promises COVID-19 vaccination for Chinese, even those living abroad / SCMP (porous paywall)
  China pushing for international COVID-19 vaccine recognition system / Caixin (paywall)
  “Beijing plans to issue electronic health certificates and implement mutual recognition of other countries’ COVID-19 tests and inoculations, foreign minister says.”
• Energy transition and carbon trading
  China gives nuclear power a fresh push in drive to go green / Bloomberg via Caixin
  “The nation aims to have 70 gigawatts of generation capacity by 2025, up from 50 gigawatts at the end of last year.”
  China Huadian to shut 3 GW of coal-fired power capacity by 2025 — chairman / Reuters
  China’s carbon market to grow to $25 billion by 2030, Citi says / Bloomberg (porous paywall)
• Disappointment in Beijing’s new climate targets
  China’s ‘modest’ climate targets for next five years don’t go far enough, experts say / SCMP (porous paywall)
  China’s five-year plan could push emissions higher unless action is taken / Guardian
  Can China build coal plants and climate treaties at once? / Sydney Morning Herald
  The 14th Five Year Plan sends mixed message about China’s near-term climate trajectory / China Dialogue
• China’s present and future COVID vaccines
  Study of aggressive COVID-19 strain in Brazil suggests limits of China vaccine / WSJ (paywall)
  “Researchers from Brazil, the U.K., and the U.S., found that plasma from eight people vaccinated five months ago with CoronaVac ‘failed to efficiently neutralize’ the new Amazonian strain, called P.1. The study didn’t show if CoronaVac can still stop people getting sick from the variant, one of the main goals of vaccination campaigns.”
  Chinese firm working on COVID-19 mRNA vaccine that can be stored at fridge temperature / SCMP (porous paywall)

POLITICS AND CURRENT AFFAIRS:

• Hong Kong: Less democracy for a brighter future
  China says Hong Kong needs electoral reform for ‘brighter future’ / Reuters
  Xinhua commentary: Why ‘patriots governing Hong Kong’ makes perfect sense / Xinhua
  “Beijing’s action to improve Hong Kong’s electoral system has won extensive support from those who truly care about Hong Kong’s stability and development.”
  Hong Kong reforms prevent ‘dictatorship of the majority’, pro-Beijing lawmaker says / Reuters
  Hong Kong leader rules out public role in electoral overhaul / Nikkei Asia (paywall)
  “Carrie Lam signals Legislative Council poll could be postponed second time.”
  Hong Kong leader ‘fully welcomes’ proposed electoral changes / AP
  China turns its back on Hong Kong loyalists / FT (paywall)
  “Chinese officials are making sweeping changes to Hong Kong’s electoral system without consulting many of the city’s loyalists. Instead Beijing has looked towards its newly installed mainland representatives in the city and select older politicians for advice.”
  Overhauling Hong Kong’s electoral system could pave the way for universal suffrage, says former city leader CY Leung / SCMP (porous paywall)
  James Griffiths on Twitter: “The whole lesson of 2014 was that Hong Kongers don’t want a false universal suffrage where they ‘freely’ vote for preselected candidates, and yet CY Leung now acts like extending this system to LegCo is doing people a favor.”
  U.S. condemns China’s Hong Kong moves, working to ‘galvanize’ action against abuses / Reuters
  EU urges Beijing to tread carefully on Hong Kong electoral reform / SCMP (porous paywall)
• U.S. response to the Microsoft hack
  At least 30,000 U.S. organizations newly hacked via holes in Microsoft’s email software / Krebs on Security
  “Speaking on condition of anonymity, two cybersecurity experts who’ve briefed U.S. national security advisors on the attack told KrebsOnSecurity the Chinese hacking group thought to be responsible has seized control over ‘hundreds of thousands’ of Microsoft Exchange Servers worldwide — with each victim system representing approximately one organization that uses Exchange to process email.”
  Preparing for retaliation against Russia, U.S. confronts hacking by China / NYT (porous paywall)
  “The United States government has not made public any formal determination of who was responsible for the hacking [of Microsoft], but at the White House and on Microsoft’s campus in Redmond, Wash., the fear is that espionage and theft may be a prelude to far more destructive activity, such as changing data or wiping it out.”
  Jake Sullivan on Twitter: “We are closely tracking Microsoft’s emergency patch for previously unknown vulnerabilities in Exchange Server software and reports of potential compromises of U.S. think tanks and defense industrial base entities. We encourage network owners to patch ASAP.”
  Microsoft Outlook hack an ‘active threat’, White House says / SCMP (porous paywall)
  Biden’s Microsoft hack probe will poison ties: expert / Global Times
  “The establishment of the task force would start a public opinion war without any evidence, which will not solve the real problem on cybersecurity issues, but will poison relations between the two countries, Chinese experts said, urging the U.S. to form a coordination mechanism based on equal footing with China to address cybersecurity issues.”
  Foreign Ministry spokesperson Zhao Lijian’s regular press conference on March 8, 2021 / MOFA
  “As we all know, the previous U.S. administration took various retrogressive moves against China-U.S. relations, which caused serious damage to bilateral relations. From this perspective, I would say that the U.S. government has a greater responsibility to take initiatives and measures.”
  China hacking concern revives India focus on cybersecurity plan / Bloomberg (porous paywall)
• Xinjiang, Uyghurs, and forced labor
  The Xinjiang silence / The Wire China (paywall)
  “The American business community is determined not to comment on the crackdown in Xinjiang — atrocities the U.S. government has deemed a genocide. But how long can their silence last?”
  Looming China extradition deal worries Uyghurs in Turkey / Reuters
  Off your hijab, let me see your eyes: China diplomat tweets dancing Uyghur woman, upsets Pak / The Print (India)
  Matt Knight on Twitter: “Zhang Heqing (PRC diplomat in Pakistan?) has deleted his tweet following backlash.”
  China will make ‘efforts’ to outlaw forced labor: Foreign minister / Politico
  Foreign Minister confirms China will ratify U.N. conventions on forced labor / Caixin (paywall)
  “Wang Yi says Beijing agreed to accept international conventions banning forced labor to conclude talks for the long-discusses CAI pact.”
• Taiwan
  China tells Biden to reverse ‘dangerous practice’ on Taiwan / AP
  Foreign Minister Wang Yi: “We urge the new U.S. administration to fully understand the high sensitivity of the Taiwan issue…[and] completely change the previous administration’s dangerous practices of ‘crossing the line’ and ‘playing with fire.’”
  Taiwan President Tsai visits naval base amid Chinese threats / AP
  Two Sessions release clearer signals for promoting reunification with Taiwan / Global Times
• Beijing avoids taking sides in Myanmar
  China says willing to engage with all parties to ease Myanmar situation / Reuters
• The decline of post-Brexit U.K. in the China market
  The COVID/Brexit cocktail: UK lost market share in U.S., Germany and China – report / Reuters
  “The United Kingdom lost market share in the United States, Germany and China during the COVID-19 pandemic due to global trade chaos, Brexit and poor productivity, according to new research published on Monday.”

SOCIETY AND CULTURE:

• Girls’ Day backlash continues
  China’s female students want to abolish Girls’ Day / Sixth Tone
  “Girls’ Day caught on at other domestic campuses, and today it’s arguably a bigger event in China than International Women’s Day. As March 7 rolls around, Chinese universities are bedecked with red banners from groups of male students attempting to express appreciation for — or make sexist jokes at the expense of — their female classmates.”
  Previous The China Project coverage of Girls’ Day: Sexist signs, burning banners, and misogynist trolls: This year’s Girl’s Day was a shameful mess.
• Are “traditional”-style clothes a “costume”?
  Trending in China: Hanfu wedding snaps fuel revivalist furor / Caixin
  “A local of Wuxi in East China’s Jiangsu province named Tang wrote a post on Weibo saying that the photo of her and her husband was rejected when they went to register for marriage…The [Wuxi Civil Affairs Bureau] later apologized for saying ‘hanfu was a costume’ and came out in support of young people being allowed to express themselves. However, it made clear that more research was needed before couples could marry wearing hanfu in Wuxi in the future.”
  Read more about hanfu on China Heritage: China’s State of Warring Styles.