Highlighted links for Tuesday, November 1, 2022

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

BUSINESS AND TECHNOLOGY:

Pressed for talent, China looks to young tech professionals in Latin America
Chinese tech giants are creating a new class of elite workers in Latin America / Rest of World
“These young employees are so coveted that Chinese tech companies are quick to poach each other’s talent.”

When the government is the investor
Local government as venture capital / Pekingnology
A look into the capital city of Anhui Province, Hefei, and its success taking minority stakes in private companies: “When the projects mature, the state capital will exit safely in market means and switch to other industrial projects to continuously extend and expand the local industrial chain.”

The Party has a seat on the board
China’s companies rewrite rules to declare Communist Party ties / Nikkei Asia (paywall)
“China’s Communist Party congress underlined fears that President [Xí Jìnpíng 习近平] is extending his grip over business and the economy — but Chinese companies were already starting to bow to Beijing’s wishes by enshrining the role of the Party in their businesses.”

China’s economic czar pledges “stable” and “sustainable” economic development
China to strive for ‘better’ economic outcome, Premier Li says / Bloomberg (paywall)
“China will strive for a ‘better’ economic outcome and promote a stable, healthy and sustainable development of the economy, state broadcaster CCTV reported Premier [Lǐ Kèqiáng 李克强] as saying.”

Property woes deepen
Chinese property bonds set record lows as investors lose faith / WSJ (paywall)
“The bonds from some real-estate companies are trading below 10 cents on the dollar, reflecting a loss of investor confidence after a series of defaults that have shortchanged investors.”
End of China property golden age has bosses heading for exit / Bloomberg (paywall)
“For two years, bad news has kept piling on for Chinese property developers.”

China’s fast-fashion giant drops anchor in Tokyo
Chinese fashion retailer Shein to open permanent ‘event space’ in Tokyo / Reuters

Can Hong Kong’s big business summit help win back the city’s reputation?
Regional rivals Hong Kong and Singapore battle to lure fintech leaders to competing mega events / SCMP (paywall)
“Hong Kong and Singapore are competing to attract industry leaders to their respective flagship fintech mega events this week, marking the first such clash since they launched in 2016, with some participants saying they planned to go to both.”
Hong Kong summit surrounded by drama before it even begins / Bloomberg (paywall)
“Top executives pull out after getting COVID; storm approaches.”
Top Chinese regulators to virtually take part in Hong Kong financial summit / SCMP (paywall)
“China’s top regulators will participate virtually in the Global Financial Leaders’ Investment Summit, according to a programme list seen by the South China Morning Post, echoing President [Xí Jìnpíng’s 习近平] recent promise of ‘full support for Hong Kong to develop its economy.’”

Ecommerce firms look set for strong sales on Singles Day
Singles Day 2022: Consumer electronics see strong sales growth on JD / TechNode
November 11 is Singles Day, “China’s biggest year-end shopping event,” and commerce companies have launched their pre-sale period offers.
Major Chinese ecommerce platforms post first sales data for Singles Day / TechNode
As China’s economy weakens, Singles’ Day shoppers tighten purse strings / SCMP (paywall)

EV wars heat up as foreign competitors slash prices
Tesla price cuts, COVID disruptions send Chinese EV makers’ sales tumbling / SCMP (paywall)
“The popularity of the American giant’s cars means NIO, XPeng and Li Auto face an uphill struggle to maintain their market share in the highly competitive market, according to some analysts.”
Ford follows Tesla with EV price cuts in China / TechNode
“Ford China on Monday cuts prices on all models in its Mach-E electric crossover by up to RMB 28,000 ($3,830), just days after Tesla slashed prices of its popular China-made EVs.”

China Merchants to buy big data center
China Merchants said to explore takeover bid for Bain’s Chindata / Bloomberg (paywall)
“China Merchants Group Ltd. is exploring a takeover offer for Chinese data center operator Chindata Group Holdings Ltd., according to people familiar with the matter.”

CATL is buying up the EV supply chain
China cobalt giant says CATL unit will take almost 25% stake / Bloomberg (paywall)
“Top global battery maker Contemporary Amperex Technology Co. Ltd. has agreed to take a stake in CMOC Group, a major cobalt producer, increasing vertical integration in China’s burgeoning EV supply chain.”

Huawei’s 5G push in Africa
Two new Huawei-powered 5G networks launch in Africa / China-Global South Project (paywall)
South Africa’s Telkom launches 5G network with Huawei / Reuters
5G in Africa: How Huawei is paving the way / Africa Report

SCIENCE, HEALTH, AND ENVIRONMENT:

No one is having babies in Taiwan
‘Ticking time bomb’: Taiwan’s fertility rate to become world’s lowest by 2035 / SCMP (paywall)
“Taiwan’s fertility rate is forecast to fall to the world’s lowest by 2035, although an anticipated turnaround by 2045 offers hope for the industrialized island that depends on a stable labor force for its signature hi-tech exports.”

China’s carousel of COVID curbs
China covertly locks down cities as COVID zero pushback rises / Bloomberg (paywall)
Shanghai officials rush to trace Disneyland visitors after guest tests positive for COVID / FT (paywall)
Chinese city accused of ‘performative lockdown lifting’ / Guardian

Beijing protects Yellow River after record-breaking droughts
After the Yangtze, China passes law to protect Yellow River / Sixth Tone
“The law attaches particular importance to capping the amount of groundwater that can be withdrawn from the river basin.”

China’s space station is complete
China docks final module to space station / WSJ (paywall)
“With the addition of the third module, the completed space station, Tiāngōng 天宫 (‘Heavenly Palace’), now weighs around 150,000 pounds and has 4,000 cubic feet of living space. Its weight is roughly one-sixth that of the International Space Station, which has hosted more than 250 astronauts from 20 countries, including 161 from the U.S. and 56 from Russia.”

The tallest tree in China
The hunt for China’s tallest tree / Sixth Tone
“At 83.4 meters, the 380-year-old Salween fir…stood out even among its fellow green giants.”

POLITICS AND FOREIGN AFFAIRS:

Beijing’s diplomacy takes off after Party Congress
Xi steps up focus on diplomacy after tightening grip at home / Nikkei Asia (paywall)
Tanzania’s Hassan makes state visit to China with projects on her mind / SCMP (paywall)
Reports: Xi expected to travel to Saudi Arabia for December summits / China-Global South Project (paywall)
Heng Swee Keat: Reinvigorating Singapore-China ties through new areas of collaboration / Caixin (paywall)
Pakistan’s Sharif lands in Beijing to discuss economy, debt / Reuters

Biden looks to allies to help cut China off from global chip technology
U.S. pushes Japan and other allies to join China chip curbs / Nikkei Asia (paywall)
“The U.S. is urging allies including Japan to follow its lead on restricting exports of advanced semiconductors and related technology to China, potentially intensifying the impact of Chinese-American tensions on chipmakers worldwide.”

Xi sends condolences to Modi for fatal bridge collapse
China’s Xi sends condolences to India over deadly bridge collapse / Reuters
“China’s President [Xí Jìnpíng 习近平] sent a message of condolence to India’s Prime Minister Narendra Modi and Indian President Droupadi Murmu over a deadly bridge collapse in Gujarat, Western India, state broadcaster CCTV reported.”

Germany and EU are wary of Scholz’s trip to China this week
EU industry chief issues China warning ahead of Scholz’s Beijing visit / Reuters
European Commissioner Thierry Breton said: “The era of naivete is over.”
Germany’s Baerbock warns Scholz ahead of his China trip / Politico
Germany struggles with its dependency on China / FT (paywall)

SOCIETY AND CULTURE:

Are Chinese ghosts capable of love?
Love, death, and ghosts in the Chinese underworld / Sixth Tone
“Can a ghost fall in love? For China’s greatest spinners of scary tales, they might have been the only ones who truly could.”

Rowing competitions under COVID zero
Shanghai holds second regatta amid choppy waters / Sixth Tone
“Shanghai held the second edition of its flagship rowing event last weekend. But strict pandemic controls once again cast a shadow over the proceedings.”

Architects for Wuxi’s new art museum
Ennead Architects wins competition to design new Wuxi Art Museum in eastern China / World Architecture
“Internationally renowned architecture firm Ennead Architects has won a competition to design the Wuxi Art Museum in the historic port city of Wuxi, China.”

Priceless artifacts shattered in Taiwan
Taiwan museum admits breaking artifacts worth £66m / Guardian
“Taiwan’s national palace museum has admitted to previously undisclosed breakages of three artifacts from the Ming and Qing dynasties, worth a reported £66 million ($77 million).”

Foster care under strain in Hong Kong
Hong Kong expected to lose 20% of foster care families in 3 years, survey shows, as group urges more support / HKFP
“A survey conducted by Hong Kong Christian Service, which provides around 20% of the city’s foster care services, said that there were already too few foster families for children needing care.”

Homage to Mao’s son on social media
“His name was Mao Anying”: Renewed remembrance of Mao Zedong’s son on Chinese social media / What’s on Weibo
“There has been a renewed focus on Máo Zédōng’s 毛泽东 son Máo Ànyīng 毛岸英, who died on the North Korean War battlefield at the age of 28.”