Links for Monday, August 22, 2022

Searing-hot China
China drought causes Yangtze to dry up, sparking shortage of hydropower / Guardian
Yangtze shrinks as China’s drought disrupts industry / AP
Yangtze tributary runs dry as China faces another month of drought / Reuters
China issues first national drought alert, battles to save crops / Al Jazeera
China fights brush fires, extends power rationing in drought / AP
China plans cloud seeding to protect grain crop from drought / AP
China’s farmers struggle to save crops as heatwave, drought drag on / Reuters
China intensifies measures to deal with heatwave and power shortages / FT (paywall)
China’s scorching southwest extends power curbs as drought, heatwave linger / Reuters
Sichuan power crunch sparks calls for rethink of coal in China’s energy mix / Caixin (paywall)
Sichuan power cuts bring automakers new supply chain crisis / TechNode
Power crunch in Sichuan adds to industry’s woes in China / Bloomberg (paywall)
China heat wave adds pressure on supply chains of Tesla, others / Nikkei Asia (paywall)

Prison time for the abducted Hong Kong billionaire
Vanished Chinese-Canadian billionaire sentenced to 13 years in prison / WSJ (paywall)
Chinese tycoon Xiao Jianhua sentenced to 13 years in prison, conglomerate fined $8 billion / Caixin (paywall)
Billionaire Xiao Jianhua jailed for 13 years in China / BBC
Chinese tycoon Xiao Jianhua sentenced to 13 years in jail for financial crimes / FT (paywall)
China jails Canadian tycoon for 13 years for finance crimes / AP
China tycoon nabbed in HK gets prison, $8 billion fine / Bloomberg (paywall)

Climate change is catching up with electric-car makers
Climate disasters risk putting a damper on electric-car making / Bloomberg (paywall)
Power cuts from heat waves and droughts in China are slowing down EV and battery companies.

Beijing incentivizes EV purchases through tax breaks
China extends EV tax breaks until December 2023 / TechNode
“Chinese authorities are extending the current range of tax credits for purchases of new fully-electric or plug-in hybrid vehicles until December 2023, local media outlets reported on Friday, following a cabinet meeting chaired by Premier Lǐ Kèqiáng 李克强.”

Major Chinese ecommerce operator goes global
China’s Pinduoduo to enter U.S. market in first international step / Bloomberg (paywall)
“Pinduoduo Inc., one of China’s biggest ecommerce operators, is preparing to enter the North American market in its first cross-border expansion, according to people familiar with its plans.”

U.S.-China troubles are affecting chip makers
Chipmakers caught in crossfire of rising U.S.-China geopolitical tensions / FT (paywall)
“Mounting U.S.-China tensions are affecting chipmakers, which are increasingly being pressed to align with Washington as it seeks to counter China’s rise as a technological power.”

Duty-free company promises post-COVID profits
China’s largest duty-free group stages Hong Kong listing despite zero-COVID / FT (paywall)
“Travel retail giant China Tourism Group Duty Free has raised $2.1bn in a downsized Hong Kong share offer, as a sweeping COVID-19 lockdown in the tropical island province known as ‘China’s Hawaii’ wreaked havoc on the company’s biggest market.”

Anti-Japanese sentiments in China affects businesses
Chinese retailer Miniso to ditch Japanese styling after backlash / Reuters
China’s ‘Little Kyoto’ still struggles after toning down Japan theme / Nikkei Asia (paywall)
Last week on The China Project (formerly The China Project): Wearing a kimono could get you arrested in China, as anti-Japanese sentiment rises.

CBD may soon be banned in Hong Kong
Looming CBD crackdown poses existential angst in Hong Kong / Bloomberg (paywall)

Doctor gets caught for fraudulent treatment in Hunan
Doctor suspended for irregular treatments at top university hospital / Caixin (paywall)
“A renowned hospital in Central China’s Hunan province has suspended a senior emergency room doctor after initial investigations found he had given patients treatment needlessly, putting their lives at considerable risk to earn extra money.”

Chinese wildlife reclaim their territories
Why tigers, bears, and elephants keep wandering into Chinese towns / Sixth Tone
“In recent years, China has clamped down hard on the killing of protected species. Now, the animals appear to be losing their fear of humans — and reclaiming their former habitats.”

Hongkongers in “virtual slavery” in Southeast Asia
Hong Kong seeks citizens caught in Southeast Asia scams / AP
“Hong Kong officials said Thursday they are seeking the return of citizens who traveled to Southeast Asia for jobs that entrapped them in scams and virtual slavery.”