Highlighted links for Tuesday, August 16, 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:

Power restrictions in China may affect global supply chains
Apple, Toyota suppliers hit by China blackouts amid heat wave / Nikkei Asia (paywall)
“China’s Sichuan provincial government has issued a notice ordering most factories, including suppliers to Apple and Toyota Motor, to suspend production until Saturday for planned power outages, as the authorities try to secure sufficient electricity for daily use with demand rising sharply due to the scorching summer weather.”
China facing power supply threat from drought in Sichuan / Bloomberg (paywall)
China turns to ‘virtual power plants’ to stabilize electricity supply as heat waves trigger demand spikes, undercut decarbonization drive / SCMP (paywall)
On The China Project in July: A virtual power plant boom is starting in China.

Tencent to sell Meituan shares to please regulators
Tencent plans to divest Meituan stake worth $24 billion — sources / Reuters

• Sale seeks to placate regulators, monetize 8-year-old bet
• Move comes after Tencent’s divestments of JD.com, SEA stakes.

Is the Chinese consumer turning pessimistic?
Chinese shun debt and pile up savings, threatening global growth engine / Bloomberg (paywall)
“Recent surveys show Chinese households are more pessimistic about future income growth than they’ve ever been — even at the pandemic’s start in 2020 or after the global financial crisis. That’s motivating them to cut back debt and beef up savings, a trend that could depress economic growth for years.”

Will China bail out or help real estate companies?
China property stocks rally on hopes of relief plan / FT (paywall)
“Shares in Chinese property companies rose sharply following reports that Beijing may order state-run groups to guarantee some developer bonds issued in the country’s onshore market.”
Chinese property developers surge in Hong Kong amid reports of government backing for onshore bonds / SCMP (paywall)
China’s housing market weakens further amid shaken confidence / Caixin (paywall)

Stimulus coming
China to boost economic demand, speed up infrastructure — state planner / Reuters
“China will boost economic demand in a strong, reasonable and moderate manner and accelerate infrastructure construction in the third quarter of the year, officials from the state planner said on Tuesday.”
China readies more policy support to stimulate growth if needed / Bloomberg (paywall)

SCIENCE, HEALTH, AND ENVIRONMENT:

China dominates global renewables spending
China drives global renewables spending to record 1st half / Nikkei Asia (paywall)
“Global investment in renewable energy hit a record $226 billion in the first half of the year, with China accounting for over 40% of the total, with experts warning the country’s dominance in key parts of the supply chain could pose security risks.”

COVID cases keep rising
China COVID cases near three-month high, raising threat of curbs / Bloomberg (paywall)
“China reported more than 2,000 new coronavirus infections for a fourth day as outbreaks flare across the country, raising the prospect of more disruptive restrictions in line with its COVID-zero strategy.”

POLITICS AND FOREIGN AFFAIRS:

China blacklists seven Taiwan officials amid U.S. visits, continues military drills
China imposes sanctions on seven Taiwan ‘secessionist’ officials / Al Jazeera
Beijing sanctions 7 Taiwanese officials, bans them from visiting or doing business with mainland China / SCMP (paywall)
Beijing sanctions more individuals in Taiwan in response to U.S. congressional visits / Caixin (paywall)
China announces new drills as U.S. delegation visits Taiwan / AP

Chinese survey ship in Sri Lanka despite Indian concerns over spying
Chinese military survey ship docks at Sri Lanka port / Reuters
Chinese research ship docks in Sri Lanka after postponement / AP
China ‘spy ship’ docks in Sri Lanka, India gifts surveillance plane / Nikkei Asia (paywall)

China uses foot-and-mouth disease to suspend Australian beef imports
China has no basis to ban Australian beef, PM Albanese says / Bloomberg (paywall)
“The Prime Minister on Tuesday also called on China to withdraw existing trade restrictions on Australian commodities including wine, coal and barley.”

Kindle flooded with Chinese propaganda on Taiwan issue
Wave of badly written Kindle titles on Pelosi, Taiwan hits Amazon’s Kindle platform / RFA
“Amazon’s Kindle e-publishing platform has been flooded with poorly written books pushing Beijing’s line on Taiwan, according to a U.K.-based publisher.”

Eurobonds may be worse than Chinese “debt traps”
Eurobonds, not bilateral debts, trapped poor countries / Pekingnology
“Professor Táng Xiǎoyáng 唐晓阳, chair of the Department of International Relations at Tsinghua University, recently unveiled a detailed, 68-page report in English examining the impacts of Eurobonds [an international bond that is denominated in a currency not native to the country where it is issued] on developing countries.”

SOCIETY AND CULTURE:

Taiwan’s Quemoy: A popular tourist spot, just two miles from mainland China
Unfazed by PLA drills, Taiwanese tourists flock to tiny Quemoy / SCMP (paywall)
“The Taiwanese islets — also known as Kinmen and just 3.2 kilometers (2 miles) from mainland China’s coast — have become a popular tourist destination, and Beijing’s massive military drills this month failed to deter domestic visitors from jetting closer to their saber-rattling neighbor.”

Popular “god songs” are toppling China’s music industry
Did ‘god songs’ kill China’s god of rock? / Sixth Tone
“Quick, catchy, and inane, short video-optimized ‘god songs’ have taken over Chinese music. Does anyone still have the patience for an old-school album?”

Factory worker’s death leaves family locked in legal battle with employer
As heat takes its toll, a worker’s family struggles to cope / Sixth Tone
After a worker died at a factory from heatstroke, her family is still battling her former employer for compensation months later.