Highlighted links for Monday, September 19, 2022

Below are links to other noteworthy reports published in the last 24 hours from and about China.

BUSINESS AND TECHNOLOGY:

Less than a billion dollars is all Vanke wants to raise in IPO in bad times for real estate developers
China Vanke’s unit seeks up to $784 million in Hong Kong IPO / Bloomberg (paywall)
China Vanke’s $784 million IPO spin-off attracts Temasek, UBS, hedge funds as cornerstone investors / SCMP (paywall)
China Vanke spin-off seeks $780 million in Hong Kong’s biggest IPO this year / FT (paywall)

Robots are taking over China’s factories
China’s factories accelerate robotics push as workforce shrinks / WSJ (paywall)
“China installed almost as many robots in its factories last year as the rest of the world, accelerating a rush to automate and consolidate its manufacturing dominance even as its working-age population shrinks.”
America’s AI edge fading fast to China / Asia Times
“A new report warns that the U.S. may lose its technological edge over China by 2030 if it doesn’t step up on strategic sectors critical to maintaining its advantages.”
Last month on The China Project: Industrial robots have taken over China’s warehouses and factories, but China can’t yet make their components.

Chinese youth are pinching pennies
Frugal is the new cool for young Chinese as economy falters / Reuters
‘Everything is unknown’: Young Chinese cut spending as economy falters / SCMP (paywall)
1 in 5 of China’s urban youth are unemployed. That’s a huge headache for Xi Jinping / CNN

British flags, made in China
Chinese factory churns out British flags after queen’s death / AP
“More than 100 employees at Shaoxing Chuangdong Tour Articles Co. set aside other work and put in 14-hour days starting at 7:30 a.m. making nothing but British-themed flags.”

Economy woes
China central bank cuts 14-day reverse repo rate, steps up cash injections / CNBC
China’s economy may have done well in August but outlook remains grim / CNBC
China boosts yuan defense with strongest fixing bias on record / / Bloomberg (paywall)

China’s nuclear plant in Argentina stymied by fuel dispute
China nuclear deal held up over Argentina’s reactor fuel demand / Bloomberg (paywall)
“Months after an announcement that China will build and largely finance an $8 billion nuclear power plant outside Buenos Aires, the deal is hung up over Argentina’s demand that its engineers be permitted to manufacture the reactor fuel domestically.”

SCIENCE, HEALTH, AND ENVIRONMENT:

Lockdown updates
China lifts two-week lockdown in Chengdu, city of 21 million / Bloomberg (paywall)
HK may end hotel quarantine and pre-arrival tests, media say / Bloomberg (paywall)
Hong Kong on track to ditch dreaded hotel quarantine: sources / Nikkei Asia (paywall)

Earthquake rattles Taiwan
Strong earthquake hits southeastern Taiwan, 146 injured / Reuters
“A 6.8 magnitude earthquake hit the sparsely populated southeastern part of Taiwan on Sunday, the island’s weather bureau said, derailing train carriages, causing a convenience store to collapse and trapping hundreds on mountain roads.”
Man dies as strong earthquake topples building in Taiwan / Guardian
Tsunami warnings issued after 6.9-magnitude earthquake hits Taiwan / CNN

Official death tally released from iron mine flood
14 people die in iron mine flood in China, 1 missing / AP
“Chinese authorities said Saturday that 14 people had died and one remained missing after a flood at an iron mine earlier this month.”

Astronauts take a spacewalk and Moon collaboration with UAE
Chinese astronauts go on spacewalk from new station / AP
“Two Chinese astronauts went on a spacewalk Saturday from a new space station that is due to be completed later this year.”
China, UAE will collaborate on moon rover missions / Space

Skyscraper set ablaze, no casualties reported
Fire engulfs 42-story building in China; no deaths reported / AP
“A massive fire sent flames and black smoke pouring Friday from a 42-story skyscraper in central China belonging to the country’s largest telecoms operator, but no casualties were reported, officials said.”

POLITICS AND FOREIGN AFFAIRS:

China and India keep their distance
Chinese and Indian leaders continue to keep each other at arm’s length / SCMP (paywall)
Indian government accused of ceding land in Himalayas to China / Guardian
“Indian people living near the country’s disputed Himalayan border with China have accused their government of giving away swathes of land after both sides agreed to withdraw troops from some contested areas and create buffer zones.”

India, not China, is now Sri Lanka’s biggest lender
With $968 million of loans, India surpasses China to become largest lender of Sri Lanka / Mint
“Surpassing China, India has become the largest bilateral lender to Sri Lanka by disbursing a total of $968 million in loans in four months of 2022, according to a media report.”

Turkey veers toward China-led group after summit in Uzbekistan
China-led SCO pushes multipolar world as Xi warns of ‘color’ revolts / Nikkei Asia (paywall)
“Leaders from the Shanghai Cooperation Organization called for a stronger multilateral world order led by several powers and regions in a joint statement Friday, as China and Russia push to expand the framework to counter America’s global unipolar influence.”
Turkey seeks to be first NATO member to join China-led SCO / Bloomberg (paywall)
Turkey’s Erdogan targets joining Shanghai Cooperation Organization, media reports say / Reuters

Xi’s heir?
Xi’s heir is likely among China’s rising ‘luckiest generation’ / Bloomberg (paywall)
As the big Party congress approaches this October, speculation grows over [Xí Jìnpíng’s 习近平] eventual successor, who is likely to be part of the “luckiest generation”: the Communist Party cadres born in the 1970s, who “missed both the Máo Zédōng 毛泽东 era, which unleashed havoc on education and the economy, and the high unemployment levels and housing crises facing today’s graduates.”

Tensions rise between China and Japan
Diaoyus dispute casts shadow over China-Japan relations 50 years after normalization / SCMP (paywall)
“[The] Japanese government views Chinese coast guard patrols as unfriendly moves challenging Tokyo’s control of islands.”

Taiwan fights misinformation from China
Taiwan’s amateur fact-checkers wage war on fake news from China / Al Jazeera
“As China flexed its muscles with large-scale military exercises off Taiwan last month, Billion Lee was busy countering an onslaught taking place against her home online.”

China still ♥︎ the United Nations, despite human rights reports
China values UN relationship despite human rights criticism / AP

SOCIETY AND CULTURE:

No menstrual products on trains
China Railway slammed for not selling menstrual products on board / Sixth Tone
“China Railway has come under public scrutiny after a female passenger accused the state-backed rail operator of avoiding selling menstrual hygiene products on board due to the stigma around periods.”

Learning Yiddish in China
At the Harvard of China, something brand nu — a class in Yiddish / Forward
“Over 30 students gathered for the first Yiddish class at Peking University in Beijing — and, according to its instructor, the first Yiddish class ever taught in China.”

National Geographic on mysterious ancient towers in Sichuan, and Forbidden City
Ancient Himalayan towers keep their secrets on a walk through southwest China / National Geographic
“Amid Sichuan’s Hengduan Mountains, mysterious stone towers built [just] more than 100 feet into the sky. No one is sure why.”
Go inside China’s Forbidden City — domain of the emperor and his court for nearly 500 years / National Geographic