Highlighted Links for Tuesday, July 5, 2022

Below are links to other noteworthy reports published in the last 24 hours from and about China. Click through to our China NewsBase to see all the other stories we collected today.

BUSINESS AND TECHNOLOGY:

China Development Bank to finance bulk of $45 billion infrastructure stimulus
Exclusive: China’s largest policy bank to fund most of $45 billion infrastructure stimulus / Caixin (paywall)
“The China Development Bank (CDB), the country’s largest policy lender by assets, will fund the majority of Beijing’s latest 300 billion yuan ($45 billion) infrastructure stimulus, sources with knowledge of the matter told Caixin.”

Chinese online music tutor shuts down, blindsides paying customers
Chinese online music tutor shuts down, leaving paying customers in the lurch / Caixin (paywall)
“Online music tutoring platform VIP Peilian has abruptly halted its operations, leaving customers who paid tuition fees in the lurch, as it becomes the latest private education firm to shutter in the wake of sweeping reforms.”

The house does not always win in Macau
Macao casino king Alvin Chau ‘cheats’ government of $1 billion in taxes / Nikkei Asia (paywall) Alvin Chau (周卓华 Zhōu Zhuōhuá), the billionaire founder of Suncity, was “arrested in November and is facing decades in prison if convicted on a slew of charges, including fraud, money laundering and illegal gambling, in the biggest criminal case to hit Macao in years.”

China and U.S. hold talks over economic policy coordination
China, U.S. senior officials discuss economic policy coordination / Caixin (paywall)
“China’s top trade negotiator Vice Premier Liú Hè 刘鹤 discussed economic issues with U.S. Treasury Secretary Janet Yellen via video call on Tuesday, according to China’s Ministry of Commerce.”

China’s Meitu braces for $52.3 million crypto investment loss
Chinese beauty app Meitu warns of $52.3 million loss on crypto bets / Caixin (paywall)
“Chinese photo touch-up app maker Meitu warned that it may record red ink of as much as 350 million yuan ($52.3 million) for the first half as a result of massive losses on investments in the cryptocurrencies bitcoin and ether.”

China’s service economy is on a strong recovery
China services recovers stronger than expected: Caixin PMI / Bloomberg (paywall)
“China’s services activity beat expectations in June and jumped to the highest level in nearly a year, a private survey showed in the latest sign that easing Covid outbreaks and restrictions have boosted consumer sentiment.”
China’s services activity gets back to growth, Caixin PMI shows / Caixin (paywall)

Sequoia China raises $9 billion despite slowdown in venture capital sector
Sequoia China raises $9 billion as investors flock to big funds / Bloomberg (paywall)
“Sequoia China, led by investment guru Neil Shen, has raised about $9 billion for investments in technology and healthcare, according to people familiar with the matter, overcoming the fundraising challenges that have beset the venture capital sector.”
Sequoia targets $9bn China fundraising despite tech crackdown / FT (paywall)

SCIENCE, HEALTH, AND ENVIRONMENT:

China rejects NASA’s fears over Beijing’s Moon exploration plan
China lambasts NASA claim it may take over the moon / Al Jazeera
“China has criticized warnings from the chief of NASA that claimed Beijing may take over the moon as part of a military space programme.”
China slams NASA chief Nelson as race to the moon gets heated / Bloomberg (paywall)

Violent weather across China: Record rains and heat
China sees record rains, heat as weather turns volatile / AP
“From the snowcapped peaks of Tibet to the tropical island of Hainan, China is sweltering under the worst heatwave in decades while rainfall hit records in June.”
In South China, the early summer harvest is washing away / Sixth Tone
World energy crisis would be worse without China’s rainy season / Bloomberg (paywall)

COVID outbreaks in Anhui Province, mass testing in Shanghai, and a new Omicron variant emerges
China records first cases of new Omicron variant BA5 / SCMP (paywall)
China’s new COVID flareup threatens crucial Yangtze Delta region / Bloomberg (paywall)
China COVID outbreaks widen as mass testing finds more cases / Bloomberg (paywall)
China’s Anhui province reports 231 new cases in COVID flare-up / Caixin (paywall)
Hong Kong travel challenges mount as COVID flight bans climb to 100 / Caixin (paywall)
China adds international flights after relaxing COVID-19 controls / SCMP (paywall)
China’s Shanghai announces two new rounds of mass COVID testing / Reuters

Everyone is catching the flu in South China
Flu epidemic sweeps South China as COVID wanes / Caixin (paywall)
“As China’s biggest COVID-19 outbreak in two years wanes, flu cases have spiked across southern China, with experts warning that the disease may sweep the country as COVID controls weaken natural immunity.”

POLITICS AND FOREIGN AFFAIRS:

Philippines now open to Chinese military exchanges
Philippines’ Marcos open to military exchanges with China / Bloomberg (paywall)
“Philippine President Ferdinand Marcos Jr. said he’s open to military exchanges with China, as he sought ways to expand ties between the two nations beyond the South China Sea territorial dispute.”

Pakistan arrests Karachi bombing suspect, tries to win back China’s favor
Pakistan arrests ‘important accused’ suspect linked to Karachi’s Confucius Institute blast that killed 3 Chinese teachers / SCMP (paywall)
“Pakistani officials on Tuesday said a key suspect linked to the blast at the University of Karachi’s Confucius Institute that left four people dead in April had been arrested.”
Pakistan arrest militant suspect in deadly bombing of Chinese nationals / Reuters
Pakistan’s Sharif woos China by targeting Belt and Road bottlenecks / Nikkei Asia (paywall)
“Pakistan’s Prime Minister Shehbaz Sharif is working to jump-start Chinese development projects that sputtered under his predecessor as he scrambles to keep Beijing happy and shore up his country’s troubled economy.”

Will Biden roll back tariffs?
As U.S.-China talks resume, an end to years of trade tariffs may not signal a soft landing in rivalry / SCMP (paywall)
“Tuesday’s long-awaited meeting between top economic officials from China and the United States appeared to be a step toward a widely anticipated rollback of punitive tariffs on some Chinese products, four years after being put into place.”
Biden close to rollback of Chinese tariffs to fight inflation / Bloomberg (paywall)
China calls Vice Premier Liu’s talks with Yellen ‘constructive’ / Nikkei Asia (paywall)
U.S. and China discuss Trump-era tariffs Biden may ease / Bloomberg (paywall)
Janet Yellen and China’s top trade negotiator discuss tariffs on call / WSJ (paywall)

China signs $3 billion investment deal with Indonesia’s wealth fund
China to invest up to $3 billion with Indonesia’s wealth fund / Bloomberg (paywall)
“China’s Silk Road Fund signed a deal with Indonesia’s wealth fund to make joint investments that strengthen economic links between the two countries.”
China’s silk road fund to invest $3bn in Indonesia’s INA / Nikkei Asia (paywall)

U.S. ambassador insists China should stop spreading Russian “lies”
U.S. ambassador urges China to stop spreading Russian ‘lies’ / Bloomberg (paywall)
“The U.S. ambassador to China called on the Foreign Ministry in Beijing to stop spreading Russia’s ‘lies,’ in an unusually direct and public rebuke by the top American diplomat in the country.”

China strengthens Vietnam relationship as international tensions heighten
China and Vietnam vow to talk more but South China Sea tensions – and others – remain / SCMP (paywall)
“Senior diplomats from China and Vietnam have vowed to hold more high-level talks and to view their bilateral relationship as a diplomatic priority as Beijing faces heightened U.S. efforts to boost ties with its regional alliance.”

China, Russia, and warships sailing off Japan’s coasts
Chinese frigate chased Russian warship away from Diaoyu Islands to stake territorial claim, Japan says / SCMP (paywall)
“Two Chinese coastguard vessels entered Japan’s territorial waters near the Diaoyu Islands on Tuesday, the Japanese coastguard said, a day after a Chinese naval ship chased a Russian warship away from the islets that are controlled by Tokyo but claimed by Beijing.”

China lauds trade plans in Afghanistan
China touts Afghan trade and investment plans after quake / Reuters
“China’s ambassador touted trade and investment plans for Afghanistan on Tuesday, a public endorsement for doing business in the Taliban-controlled country after an earthquake drew attention to the humanitarian consequences of Western sanctions.”

Vatican envoy raises a red flag over Hong Kong
Vatican envoy in Hong Kong warns Catholic missions to prepare for China crackdown / Reuters
“Monsignor Javier Herrera-Corona, the Vatican’s unofficial representative in Hong Kong, delivered a stark message to the city’s 50-odd Catholic missions before finishing his six-year posting in March: the freedoms they had enjoyed for decades were over.”

SOCIETY AND CULTURE:

“Where is Peng Shuai?” T-shirts searched at Wimbledon
Activists with Peng Shuai T-shirts searched at Wimbledon / AP
“Four activists wearing ‘Where is Peng Shuai?’ T-shirts were stopped by security at Wimbledon on Monday and had their bags searched.”
‘Where is Peng Shuai?’ t-shirts return as Wimbledon searches 4 fans / SCMP (paywall)

China’s patriotic culture in Hong Kong
China state museum opens in Hong Kong amid patriotism drive / AP
“China’s famed Palace Museum began displaying artifacts in Hong Kong on Sunday amid a drive to build loyalty to Beijing in the former British colony that reverted to Chinese rule 25 years ago.”

Sex ed in the countryside
What’s the right way to teach rural kids about sex? / Sixth Tone
Sociologist Liu Chong was tasked with teaching disadvantaged kids in Yunnan about sex. She was surprised when the boys and girls literally gave her the finger.

COVID-positive discrimination in the Shanghai workplace
Shanghai job ads discriminate against applicants who had COVID / Sixth Tone