Highlighted Links for Thursday, July 21, 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’s gaming industry shrinks for the first time in its history
China gaming crackdown: revenue, user base shrink for first time under harsh regulations, slowing economy / SCMP (paywall)
“Total revenue generated by Chinese video gaming companies and the number of gamers in the country both fell in the first half of 2022 from a year ago, marking their first decline since data became available in 2008, according to a report published by the country’s semi-official gaming association.”

HSBC forms a Party committee
HSBC installs Communist Party committee in Chinese investment bank / FT (paywall)
“HSBC has become the first foreign lender to install a Chinese Communist Party committee in its investment banking subsidiary in the country, a move that underlines the tension facing the bank as it tries to navigate between Beijing and the west.”
HSBC confirms staff in China unit set up branch of Chinese Communist Party / Reuters

China’s COMAC is coming for Airbus and Boeing’s market share
China’s COMAC reliant on ‘captive domestic market’ for sales / FT (paywall)
“At the start of this month, Airbus announced a deal with four Chinese airlines for 292 single-aisle A320 aircraft, which carry a ticket value of $37 billion. But according to Jim Harris, who leads the aerospace and defense practice at Bain & Company, COMAC will end the Boeing-Airbus duopoly in China for large commercial aircraft before 2040.”
Last week on The China Project: COMAC is building Chinese jetliners and wants to take on Airbus and Boeing.

China’s solar capacity up 137% in a year
China solar installations more than double in first half – assn / Reuters

ByteDance spends millions on U.S. lobbying
TikTok owner ByteDance spends record $2.14 million on U.S. lobbying amid scrutiny over app’s privacy and security practices / SCMP (paywall)

China’s crackdown on “ice-cream assassins”
China’s market regulators take aim at ‘ice cream assassins’ / Sixth Tone
“Local regulators across the country have been cracking down on stores hiding ice cream prices amid an uproar over rising costs for the humble summer treat. Multiple brick-and-mortar shops in the northern city of Tianjin, as well as those in Zhejiang and Guangdong provinces, have been fined up to 200 yuan ($15) for hiding prices.”
Our last phrase of the week: Ice-cream assassin (雪糕刺客 xuěgāo cìkè).

SCIENCE, HEALTH, AND ENVIRONMENT:

World’s oldest giant male panda dies in Hong Kong
An An, world’s oldest giant male panda in captivity, dies at 35 / NYT (paywall)
“Ān’ān 安安, a bamboo-eating resident of Hong Kong’s Ocean Park who was known for his feisty, playful nature and who had the distinction of being the world’s oldest giant male panda in captivity, died on Thursday after experiencing health problems. He was 35 — or 105 in human years.”
World’s oldest male giant panda dies at age 35 in Hong Kong / AP
World’s oldest known male giant panda, An An, dies at 35 / Reuters
An An, world’s oldest captive male giant panda, dies in Hong Kong zoo aged 35 / The Guardian

Tornado strikes eastern China as temps soar across country
Tornado kills 1 in eastern China as country faces high temps / Bloomberg (paywall)

POLITICS AND FOREIGN AFFAIRS:

Uruguay wants solo FTA with China
Uruguay seeking China trade deal despite misgivings from neighbors / Reuters
“Uruguay will push for a free trade agreement with China, the South American country’s top diplomat said on Wednesday, even as it faces resistance from some of its neighbors who favor regional trade talks over deals involving just one nation.”

Repayments roll out in Henan banking fraud
China to repay more victims next week in biggest bank scam / Bloomberg (paywall)
“Chinese authorities will repay more victims of the nation’s biggest bank scam as it seeks to placate angry customers who have been denied access to tens of billions of yuan of deposits for months.”
Chinese regulators refund more customers caught in alleged rural bank fraud / WSJ (paywall)
China to repay more depositors to defuse rural bank scandal / Reuters
China’s banking crisis draws fresh scrutiny as economic slowdown highlights emerging risks / SCMP (paywall)

Indonesia and Chinese leaders to meet
Indonesian president to visit China next week, will meet with Xi / Reuters
“Indonesian President Joko Widodo will visit China from July 25 to 26, a Chinese ministry spokesman said on Thursday, becoming the first foreign leader in two years to be received individually by Beijing aside from February’s Winter Olympics.”

Will Beijing sour on overseas loans?
China reckons with its first overseas debt crisis / FT (paywall)
“The Belt and Road Initiative has seen a surge in loans going bad, prompting Beijing to issue countries with emergency credit.”

China criticizes Czechs for Taiwan visit
China slams Czechs over Taiwan visit as ties continue to unravel / Bloomberg (paywall)
“China slammed the Czech Republic for hosting a Taiwanese legislative delegation, deepening the rapid erosion of ties between Beijing and one of its formerly staunchest European Union allies.”
Taiwan’s speaker warns of Chinese ambitions in Prague, China protests / Reuters

SOCIETY AND CULTURE:

Olympic sports
China’s Feng Bin stuns women’s discus for gold / Reuters
“China’s Féng Bīn 冯彬 put up the performance of her life to stun the women’s discus final at the World Championships on Wednesday, as Olympic champion American Valerie Allman settled for bronze.”

Art by the Shenzhen seashore
Hong Kong mega-collector and developer Adrian Cheng is building a new $1.4 billion seaside art district in Shenzhen / ArtNet
“Art collector and property tycoon Adrian Cheng (郑志刚 Zhèng Zhìgāng) is bringing his K11 art mall brand from Hong Kong to mainland China for the first time. He has revealed an ambitious plan to build a massive cultural-retail hub by the waterfront of Shenzhen…”