Links for Monday, March 22, 2021

Notable China news from around the world.

BUSINESS AND TECHNOLOGY:

  • Musk uses Huawei playbook, saying Tesla would never spy โ€œin China or anywhereโ€
    Tesla will never use its cars to spy in China, Musk says / Yicai
    Elon Musk, Teslaโ€™s founder and CEO, said the company will in no way provide the data collected by its cars to the U.S. government, days after the Chinese military banned Tesla vehicles from military complexes.
    Musk said in a business forum held by a think tank under Chinaโ€™s State Council that โ€œthereโ€™s a very strong incentive for us to be confidential with any information,โ€ because โ€œif Tesla used cars to spy in China or anywhere, we will get shut down.โ€
  • The Wild East is over for data-hungry mobile apps
    China seeks to rein in mobile apps’ collection of personal data / Reuters
    Beijing continues to rein in tech companiesโ€™ use of customer data: The Cyberspace Administration of China (CAC) said on Monday that mobile app providers cannot deny users basic access to their services if they decline to share non-essential personal information. No specific companies were named.
    CAC also listed what types of access are deemed essential for 39 types of apps, such as:
    • Ride-hailing apps can access usersโ€™ phone numbers, location, and payment information.
    • Online payment apps are allowed to collect phone numbers, ID information, and bank card numbers.
  • Chinese students in the U.S. dropped 20% in 2020
    ICE report on international students in US details impact of COVID / ICE
    The number of Chinese students in the U.S. in 2020 dropped to 382,561 from 474,497 in 2019, according to new data released by the U.S. Immigration and Customs Enforcement (ICE). The number of newly enrolled foreign students in the fall 2020 semester in the U.S. dropped 72%. China remains the largest source of foreign students in the U.S.
    • U.S.-China tensions and COVID-19 in the U.S. have led many Chinese students to consider other study-abroad destinations, but the ICE data shows that the decline is less significant than many expected.
  • Carrefour China seeks independent IPO
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    Big-box store chain Carrefour China โ€” most of which the French retail giant has sold โ€” will seek an independent IPO, but did not disclose further details on the time and location of the public offering. The IPO plan comes 18 months after Chinese retailer Suning.com (002024.SZ) acquired 80% of Carrefour Chinaโ€™s stakes. Sunning itself has been under financial pressure, so the IPO may be a sign of desperation.
  • BGI: A โ€˜merger of company, academic institution, and governmentโ€™
    Jolly gene giant / The Wire China (paywall)
    โ€œLast April, as the world fell to COVID-19, one Chinese company was there to offer a helping hand: BGI. But the line between the biotech giant and Beijing is increasingly blurry.โ€
  • Ant marches on with new robo financial adviser
    Antโ€™s Alipay rolls out investment advisory platform in China / Bloomberg (porous paywall)
    โ€œAnt Group Co. created an investment advisory platform on its Alipay app, allowing companies that offer robo adviser services to reach its 1 billion users.โ€
  • Another financial opening: Wealth management services
    JPMorgan to buy $410 million stake in Chinese bankโ€™s wealth business / WSJ (paywall)
    JPMorgan Chase & Co. agreed to pay $410 million for a 10% stake in the wealth subsidiary of China Merchants Bank.
  • IPO for Quora-type website Zhihu?
    Could Chinese Q&A platform Zhihu raise $632.5 million in U.S. IPO? / Caixin
    ByteDance gaming unit agrees to acquire Mobile Legends developer / Caixin
  • Ecommerce giant JD to take 51% stake in on-demand delivery platform Dada
    China’s JD.com to invest $800 million in Dada Group / Reuters

SCIENCE, HEALTH, AND THE ENVIRONMENT:

POLITICS AND CURRENT AFFAIRS:

SOCIETY AND CULTURE: