Highlighted links for Wednesday, November 2, 2022

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

BUSINESS AND TECHNOLOGY:

• NIO and other Chinese businesses kneecapped by COVID curbs
  NIO falls behind on thousands of cars as COVID zero hits plants / Bloomberg (paywall)
  “Chinese electric-car maker NIO Inc. has fallen behind on both producing and delivering thousands of vehicles over the past month as COVID restrictions disrupted output at its two factories, according to people familiar with the matter.”
  China COVID curbs exact wider business toll on Yum, EV maker NIO / Reuters
  Chinese companies hit by COVID-sparked production snarls / Nikkei Asia (paywall)
  China’s COVID curbs, droughts hit tourism, and factory hubs / Bloomberg (paywall)
  COVID lockdowns stoke merchant concerns ahead of peak shopping season / Caixin (paywall)
  “A fresh wave of COVID-19 outbreaks and tightened control measures across China are stoking concerns among merchants that logistics disruptions could undermine sales in the annual ‘Double 11’ shopping promotion,” also known as Singles’ Day.

• XPeng slips
  EV-maker XPeng shares drop as sales fall by half / Caixin (paywall)
  “The stock slipped on news the startup delivered just 5,101 vehicles last month.”
  XPeng electric car deliveries drop in October to half of NIO’s / CNBC

• Market watchers are desperate for any sign of an exit from COVID zero
  Chinese stocks boosted by planned rollout of CanSino’s inhalable COVID vaccine / FT (paywall)
  “Chinese pharmaceutical stocks and the broader market received a boost on Wednesday after local authorities approved a new vaccine to tackle coronavirus, amid rumors that Beijing was looking at relaxing its zero-COVID policy.”
  China drugmaker surges 61% as cities adopts inhaled vaccine / Bloomberg (paywall)
  Chinese stocks soar as reopening talk fuels speculative frenzy / Bloomberg (paywall)
  Monday on The China Project: Stocks jump on rumors that China may end COVID zero, but investors really don’t know what to make of Xi’s China.

• Singapore and China deepen economic ties
  Singapore and China reach 19 deals, boosting ties in green financing, digitalization / Caixin (paywall)
  “Vice Premier Hán Zhèng 韩正, who led the Chinese delegation, is the most senior leader from China to visit the city-state since the pandemic began.”

• Hunan’s a hotspot for China-Africa trade
  China-Africa trade via Hunan Province is booming / China-Global South Project (paywall)
  “Customs authorities in Changsha, the capital of China’s southern Hunan province, reported $2.6 billion in two-way trade between the city and African countries in the first three quarters of the year.”

• Big business bosses remain hesitant on Hong Kong
  Hong Kong struggles to persuade CEOs it is open for business / FT (paywall)
  “Events intended to attract finance leaders overshadowed by remaining COVID rules.”
  Hong Kong’s Wall Street summit avoids talk on China risks / Bloomberg (paywall)
  In Hong Kong, world bankers urged not to ‘bet against’ China / AP
  Don’t bet against China and Hong Kong and don’t read too much foreign news, top Chinese regulator tells banking summit / HKFP
  Hong Kong leader Lee touts ‘China advantage’ at banker summit / Nikkei Asia (paywall)

• Hong Kong’s shrinking young labor force
  116,600 young Hongkongers left workforce in past 2 years / HKFP
  “Hong Kong’s labor force has lost around 116,600 people aged 18 to 39 over the past two years, government documents have revealed.”

• Investors sober on Chinese tipple
  Xi’s vision puts investors off pricey Chinese liquor / WSJ (paywall)
  “Popular stocks of baijiu liquor makers plummeted in October, as investors worried about the risk of an industry crackdown.”

• Tesla shuts a showroom in Beijing
  Tesla shut first Beijing showroom last month in strategy shift / Bloomberg (paywall)
  “Tesla Inc. shut its flagship China showroom in Beijing last month, according to a person familiar with the matter.”

• Chinese tech and telecom giants link up to tap a booming digital economy
  Tencent and China Unicom get Beijing’s nod for public-private JV / SCMP (paywall)
  “The joint venture will focus on content delivery networks and technologies such as edge computing.”

• India eases up on Chinese firms in key tech — as long as they do it in-house
  Chinese firms may be allowed in high-tech electronics in JV with Indian companies / Economic Times
  “The government is open to allowing Chinese firms’ entry into the high-tech electronics sector if they set up manufacturing units in the country in partnership with local companies, officials said.”

• Beijing raises a flag on property crisis
  China regulator says it’s concerned about property sector / Bloomberg (paywall)
  “China’s Banking and Insurance Regulatory Commission said that the country’s property sector is an area of concern, although risks are manageable.”

SCIENCE, HEALTH, AND ENVIRONMENT:

• Can 3D printing help save Hong Kong’s coral reefs?
  Transplanted coral is thriving on a 3D-printed reef in Hong Kong / Bloomberg (paywall)
  “Fragments of coral inserted in clay tiles are surviving and growing, researchers say, a hopeful sign for saving the animals at risk from climate change.”

• Very old turtles in China
  Fossils in China’s ‘dinosaur city’ shed light on 100 million-year-old turtle / SCMP (paywall)
  “Chinese scientists say they have discovered rare fossilized footprints left during the Early Cretaceous period by turtles living in China’s ‘dinosaur city.’”

• The cuddlier side of China-Taiwan relations
  China panda experts visit Taiwan in rare point of contact / AP
  “Taiwan has welcomed a pair of experts from China to help with an ailing panda in a rare opportunity for contact between the sides.”

• Typhoon Nalgae hits Hong Kong
  Hong Kong braces for Tropical Storm Nalgae / AP
  “Schools and offices closed and some events were canceled in Hong Kong on Wednesday as Tropical Storm Nalgae swept south of the city, while a finance conference meant to restore Hong Kong’s image as an international business center went ahead.”

POLITICS AND FOREIGN AFFAIRS:

• Germany and EU grow uneasy as Scholz heads to China
  Worries over Germany’s China dependency overshadow Scholz trip / Reuters
  “Chancellor Olaf Scholz makes an inaugural visit to China on Friday that will be closely watched for clues on how serious Germany is about reducing its economic reliance on Asia’s rising superpower and confronting its Communist leadership.”
  Germany retains China ties despite rising geopolitical tensions / WSJ (paywall)
  Germany questions China business ties as Scholz heads to meet Xi / Nikkei Asia (paywall)
  China vows ‘continuity and stability’ in Europe policy / SCMP (paywall)
  “Chinese foreign minister says Beijing is willing to promote EU partnership during call with French counterpart just days before Germany’s Olaf Scholz meets [Xí Jìnpíng 习近平].”

• China offers fuel to Bangladesh amid power crunch
  China offers to help Bangladesh keep lights on as outages bite / Nikkei Asia (paywall)
  “Bangladesh is reeling from a worsening power crisis that plunges homes and factories into darkness for hours, prompting China to offer to come forward with fuel supplies if push comes to shove.”

• Chinese people are chafing under COVID zero
  Chinese vent anger over zero-COVID: ‘When can we lead a free life?’ / Nikkei Asia (paywall)
  “The Chinese government’s strict zero-COVID policy has sparked unusual expressions of defiance, ranging from protests in Tibet and Shenzhen to anti-lockdown graffiti.”

• Netherlands shuts Chinese “illegal” overseas police offices
  Netherlands orders closure of illegal Chinese police offices / DPA via SCMP (paywall)
  “Dutch Foreign Minister Wopke Hoekstra has ordered the immediate closure of illegal police offices set up by China in Amsterdam and Rotterdam, according to media reports from Tuesday.”

• Where is Peng Shuai?
  AP Interview: Tennis tour CEO still wants Peng Shuai inquiry / AP
  “We do need to resolve [Péng Shuài 彭帅]…We’re comfortable that she’s safe, and we know she’s in Beijing, which is great…But we haven’t received the assurances that we want with respect to the investigation that we requested,” Simon told the Associated Press: “What’s the real story?”

• U.S. FCC chief to visit Taiwan
  U.S. FCC commissioner to visit Taiwan to discuss cybersecurity, telecoms / Reuters
  “U.S. Federal Communications Commissioner Brendan Carr will visit Taiwan this week, the de facto U.S. embassy in Taiwan said on Wednesday, the latest senior official from the country to visit the island.”

• U.S.-China tensions
  U.S. says China resisting nuclear talks after Xi vow to boost deterrent / Reuters
  “Despite the lesson of the Cuban missile crisis 60 years ago, China has shown no interest in discussing steps to reduce the risk posed by nuclear weapons, senior U.S. officials said on Tuesday, after Chinese leader [Xí Jìnpíng 习近平] signaled last month that Beijing would strengthen its strategic deterrent.”
  How China lost America / NYT (paywall)
  Thomas L. Friedman writes: “Four trends have led to the end of the steady integration of the Chinese economy with the West.”

• Hong Kong’s most vulnerable face a sweltering city with no place to live
  Hong Kong’s poorest face a combined housing and climate crisis / Bloomberg (paywall)
  “With public housing scarce, the city’s poorest residents face increasingly unhealthy living conditions in tiny apartments and sweltering rooftop huts.”

• One country, two systems
  China says must resolve stability issues in Hong Kong and Macau / Reuters
  “China should ‘resolutely deal with’ and ‘rectify’ whatever is needed to resolve any long-term stability issues in Hong Kong and Macau, a senior official said, according to a 20th Communist Party Congress party supplementary document reading published in October.”

SOCIETY AND CULTURE:

• Not-so-glamorous knockoff boy bands
  Almost real: The fleeting fame of Hunan’s imitation idols / Sixth Tone
  “Campy knockoff bands offering cheap fun echo the discontent associated with China’s billion-dollar music industry.”

• Social media users hail a Chinese biologist’s return home
  Social media users hail the return of a top Chinese biologist from the U.S. / Caixin (paywall)
  “The return of Yán Níng 颜宁, a distinguished Chinese biologist, from the U.S. to China has been cheered by social media users.”

• Shanghai’s central river gets a makeover
  Shanghai completes its $5 billion transformation of the Suzhou Creek / Sixth Tone
  “Long considered an eyesore, the city’s central river has received a massive overhaul over the past 25 years. That project finally culminated with the launch of a new tourist cruise yesterday.”

• Hip brand on Chinese social media
  Why is Want Want so popular in China? The remarkable revival of an iconic brand / What’s on Weibo
  “Why the 60-year-old Want Want [旺旺 Wàng Wàng] brand became the ‘hot kid’ on the block on Chinese social media this year.”