Links for Monday, August 8, 2022

Anhui Province orders end to majors with low employment rates
Chinese province to kill majors with low employment rates / Sixth Tone

“Anhui Province has ordered universities to stop enrolling students for underperforming degrees.”

Ming dynasty imperial edict discovered in Hebei

Ming dynasty edict found in northern China offers valuable insight into imperial government / SCMP (paywall)
“Archaeologists in northern China announced at the end of July that they had found a 17th-century imperial edict from the Ming dynasty in Hebei Province.”

Blinken responds to Beijing’s silence after Pelosi visit

Blinken: China should not hold global concerns ‘hostage’ / AP
“U.S. Secretary of State Antony Blinken said Saturday that China should not hold hostage talks on important global matters such as the climate crisis, after Beijing cut off contacts with Washington in retaliation for U.S. House Speaker Nancy Pelosi’s visit to Taiwan earlier this week.”
Blinken chides China’s ‘irresponsible’ cut in US communication / Al Jazeera
Blinken vows to stand by Philippines amid China tensions / Bloomberg (paywall)

Myanmar’s China ambassador died on Sunday
Myanmar ambassador to China died on Sunday / Reuters
“Myanmar’s ambassador to China died suddenly on Sunday in the southwestern Chinese city of Kunming, according to an obituary in Myanmar state media and diplomatic sources in Beijing.”

Canadian gold mine tests Pakistan’s ability to protect foreign investors
Pakistan insurgents behind China attacks threaten Barrick Gold mine / Nikkei Asia (paywall)
“A Canadian gold giant’s planned foray into Pakistan’s restive southwest is shaping up to be a litmus test for the government’s ability to attract — and protect — foreign investors.”

China to cut tariffs on trade with world’s poorest countries
China cuts tariffs, cozies up to 16 of world’s poorest nations with US, Australia trade ties strained / SCMP (paywall)
“China will cut tariffs on almost all taxable items imported from 16 of the world’s poorest countries as a gambit to widen overseas economic relations in the face of trade tensions with its major partners, including the United States and Australia.”

Bangladesh looks for China’s help in repatriating Rohingya refugees
Bangladesh seeks China help to repatriate Rohingya refugees / AP
“Bangladesh on Sunday sought cooperation from China to repatriate Rohingya refugees to Myanmar during a visit by Foreign Minister Wang Yi, who promised better trade ties, investment and support for infrastructure development in the South Asian nation.”

Suspect in kindergarten murders dies while on the run
Suspect in China kindergarten attack dies after accident / AP
“A 48-year-old Chinese man suspected of killing four people in an attack at a private kindergarten in southern China earlier this week died from injuries sustained during an accident while on the run, police said. The man, Liu Xiaohui, carried out the suspected knife attack Wednesday morning at a kindergarten in Jiangxi province, killing two people on the spot.”

Recovered COVID patients in China face difficulties in employment, home buying
COVID stigma in China can cost recovered patients jobs, homes / Bloomberg (paywall)
“Those who have recovered are singled out during regular mass testing, which people in big cities must undergo at least every three days. A history of infection stored in the health apps that track each person can be found by employers, threatening job prospects. At the extreme, some people have lost their homes and their livelihoods because of Covid discrimination.”

Twitter co-founder Jack Dorsey tweets “End the CCP”

Jack Dorsey tweets ‘end the CCP’ after China Covid report / Bloomberg (paywall)
“Twitter Inc. co-founder Jack Dorsey tweeted the words ‘end the CCP’ over the weekend in response to a report about China’s strict COVID-19 measures.”

Historic Chinese bridge caught in flames
Fire engulfs historic wooden bridge in southern China / AP

“Authorities are investigating the cause of a fire that engulfed a covered wooden bridge with 900 years of history in southeastern China over the weekend.”

U.S.-China tensions blunt climate progress
Beijing’s snub of U.S. deals a blow to global climate talks / Bloomberg (paywall)
“China’s decision to halt climate talks with the US is dealing another blow to global warming negotiations already upset by the energy crisis and Russia’s invasion of Ukraine.”

What does the US-China row mean for climate change? / Guardian
U.S.-China diplomatic breakdown clouds outlook for global climate progress / Reuters
China halts military, climate dialogue with U.S. over Pelosi Taiwan trip / Reuters
China to push on with emissions reduction even as Taiwan spat widens rift with US, renews concerns about global warming / SCMP (paywall)

U.S. and China are publishing less joint research
China and U.S. lead the world on joint research output but that is changing, warns study / SCMP (paywall)
“Sino-U.S. co-publications, growing since 2017, saw a slight dip in 2021, report from publishers Elsevier and Pacific Rim universities body says.”

Business as usual in the Taiwan Strait for the shipping industry
China military drills prompt ships to leave Taiwan waters / WSJ (paywall)
Ships delay sailing to Taiwan port to avoid China drill zone / Bloomberg (paywall)
Air traffic around Taiwan returning to normal despite new Chinese drills / Reuters

Tencent slashes stake in Huayi Brothers Media by 3%
Tencent dumps shares of Chinese film studio in latest sign of movie industry struggles / Caixin (paywall)

India to restrict low-price Chinese phones, seeks to bolster domestic industry
India seeks to oust China firms from sub-$150 phone market / Bloomberg (paywall)
“India seeks to restrict Chinese smartphone makers from selling devices cheaper than 12,000 rupees ($150) to kick-start its faltering domestic industry, dealing a blow to brands including Xiaomi Corp.”

French pharma giant invests $306 million in cancer research partnership with China
Sanofi invests $306 million in China partnership for novel cancer drugs / Caixin (paywall)
“French pharmaceutical giant Sanofi SA agreed to invest 300 million euros ($306 million) in Chinese biotech company Innovent Biologics Inc. to foster collaboration in cancer drug development.”

Eager investors or price manipulation? Hong Kong bank’s 2,325% surge
Hong Kong investment bank’s 2,325% surge baffles investors / Bloomberg (paywall)
“Magic Empire Global Ltd., which provides underwriting and advisory services and has helped just one company go public since 2020, surged 2,325% in its debut session Friday in New York to a market capitalization larger than football club Manchester United Plc.”

Back to jade
Chinese investors ditch property for jade in search of higher returns / FT (paywall)
“Sell-offs in Chinese equities and bonds and widespread defaults in the country’s property market are driving wealthy investors to re-examine one of Asia’s most traditional forms of investment: jadeite. A coup in Myanmar, US sanctions and the COVID-19 pandemic have all but frozen supplies of the uncut stone, sending prices of finished jewelry bearing jadeite soaring.”

Evergrande abandons soccer stadium plans and takes a $187 million loss
Evergrande’s soccer stadium dream ends in $187 million loss / Caixin (paywall)
“Troubled property developer China Evergrande Group expects to book a loss of 1.26 billion yuan ($186.7 million), after it abandoned plans to build a massive soccer stadium in Southern China and sold the land back to the government.”

Chinese companies distance themselves from Taiwan after Pelosi visit
Companies in China distance themselves from Taiwan amid Pelosi backlash / Reuters
“From a Chinese soy sauce maker to an Asia-focused asset manager, companies in China are rushing to distance themselves from geopolitical tensions over Taiwan following last week’s visit to the island by a high-profile U.S. official.”
Apple warns suppliers to follow China rules on ‘Taiwan’ labeling / Nikkei Asia (paywall)
Shipments to Pegatron’s China factory disrupted after exec met Pelosi / Nikkei Asia (paywall)

China’s bustling clothing markets are no more
China’s once-booming clothing markets face a reckoning amid post-pandemic e-commerce shift as sales dry up / SCMP (paywall)
“Once a mecca for shoppers seeking fashion bargains, Shanghai’s Qipu Road Clothing Market felt like a ghost town during a recent visit, with many shops closed and few potential buyers roaming the halls. The eerie quietness marked a sharp contrast to the days before the pandemic, when the market boasted daily traffic of 100,000 people.”

Hong Kong’s last working sawmill faces closure
Hong Kong’s last sawmill faces closure amid development plan / AP
“Chi Kee Sawmill & Timber, Hong Kong’s last operating sawmill, has been processing timber in the city for 75 years. Soon the family-run factory near the territory’s border with mainland China might be forced to shut down as part of a development project: it received notice earlier this year that it had to vacate its current premises, which it has occupied for nearly four decades, to make way for a development project.”