Highlighted links for Thursday, November 10, 2022

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

BUSINESS AND TECHNOLOGY:

German firms won’t quit China
German business leaders warn against pulling out of China / AP
“A group of top German business executives is warning against withdrawing from China, while acknowledging that it’s right for Germany to redefine its relationship with Beijing.”

Crackdowns and COVID zero weigh on Singles Day
China $131 billion Singles’ Day faces stagnation after scandals / Bloomberg (paywall)
Singles Day 2022: Chinese livestream stars hop freely between platforms / TechNode
Alibaba built its success on small vendors. Now, it fears losing them. / Sixth Tone
Alibaba-led Singles Day bonanza hit by business caution and COVID / Nikkei Asia (paywall)

Not even COVID zero can drive Foxconn away from China
Foxconn to keep expanding in China despite COVID disruption / FT (paywall)
“Foxconn, the world’s largest contract electronics manufacturer, has said the bulk of its spending on production facilities will continue to be in China, despite the major disruption at its plants caused by Beijing’s zero-COVID policy.”
Foxconn plans to ramp up China expansion despite COVID upheaval / Bloomberg (paywall)
Foxconn says aims to swiftly recover iPhone production levels at COVID-hit site / WSJ (paywall)

TSMC is still selling quite well
TSMC monthly sales rise 56% as chip giant weathers tech slowdown / Bloomberg (paywall)
“Taiwan Semiconductor Manufacturing Co. posted a 56% increase in sales for October, signaling the world’s largest contract chipmaker continues to weather a broader slowdown in electronics demand.”

Beijing woos foreign firms
China courts global companies at its biggest import fair despite COVID controls / FT (paywall)
“China has wrapped up a flagship import trade fair that sought to boost foreign access to its market, even as the government’s strict anti-coronavirus measures continue to constrain international trade with the country.”
Foreign capital flees China market as local investors eye rebound / Nikkei Asia (paywall)

Billionaires lose a sizeable chunk of change under Xi’s China
China’s billionaires see huge losses as economy, markets sputter / WSJ (paywall)
“The zero-COVID policy, plunging share values and a property slump have erased hundreds of billions of dollars from coffers of the country’s tycoons.”
Chinese tycoons’ fortunes shrivel as lockdowns and crackdowns bite / FT (paywall)

Beidou is a real competitor to GPS
China’s satellite navigation system gets a stronger foothold in the West / SCMP (paywall)
“China’s version of GPS, the Beidou satellite navigation system, is now more powerful than ever, thanks to two ground stations in North America.”

Bank loans for October hit lowest in five years
China’s bank loans drop to worst since 2017 as economy slows / Bloomberg (paywall)
“Chinese banks lent the least amount of money in almost five years last month, with overall credit growth also slowing down more than expected despite the central bank’s recent efforts to boost lending.”

SCIENCE, HEALTH, AND ENVIRONMENT:

Guangzhou lockdown intensifies
China reaffirms zero-COVID stance, city of Guangzhou on edge / Reuters
Guangzhou suspends most schools as COVID-19 outbreak worsens / Caixin (paywall)

Scientific misinformation online
Chinese scientists are speaking out online. Is anyone listening? / Sixth Tone
“While Chinese scientists are held in high regard, their unwillingness to speak plainly, even on social media, has opened a window for misinformation.”

China will help compensate poorer countries over climate change, but stops short of real cash
China will support climate damage mechanism but not with cash / Reuters
“China would be willing to support a mechanism for compensating poorer countries for losses and damage caused by climate change, its climate envoy [Xiè Zhènhuá 解振华] said Wednesday at the COP27 climate summit in Egypt, but China later said that would not involve contributing cash.”

POLITICS AND FOREIGN AFFAIRS:

Obituaries for Bao Tong
Bao Tong, prominent Chinese liberal voice, dies at 90 / AP
Bào Tóng 鲍彤, “a leading voice for political reform in the Chinese Communist Party who was purged after the bloody 1989 Tiananmen Square crackdown, has died at age 90.”
Bao Tong, aide to former Chinese premier Zhao Ziyang, dies aged 90 / HKFP
Bao Tong: Champion of Chinese political reform dies at 90 / BBC

Climate aid, or political leverage against Taiwan?
China points to offer of climate aid to boost Taiwan claims / Bloomberg (paywall)
“China has offered Taiwan assistance to combat climate change, Beijing’s top envoy to the COP27 summit in Egypt said, using environmental policy to bolster its claim over the island.”

Patriarchy is well alive in Xi’s Politburo
China’s top leadership excludes women for the first time in two decades / Washington Post (paywall)
“Is [Xí Jìnpíng’s 习近平] new all-male Politburo backing away from the communist party’s commitment to advancing women?”

Protest banner in Beijing sparks similar acts of dissent across the globe
One man’s bold protest against China’s leaders inspires global copycats / Washington Post (paywall)
“The banners unfurled on the Sitong Bridge in Beijing are inspiring similar actions in other countries to protest the Chinese government.”

India set to overtake China in U.S. visas
India to surpass China in number of U.S. visas issued by 2023 / Mint
“India is anticipated to surpass China in the number of U.S. visas issued and will rank second behind Mexico.”

Hong Kong jails reporter for waving colonial flag during fencing Olympics gold win
Hong Kong court jails reporter for 3 months in first conviction over national anthem law / SCMP (paywall)
“An online news reporter has become the first person to be convicted of breaking the national anthem law in Hong Kong after pleading guilty to waving Hong Kong’s colonial era flag at a public event celebrating the city’s fencing gold medal triumph at the Tokyo Olympics.”

Canadian foreign minister joins Trudeau in warning against China
Trudeau envoy labels China ‘increasingly disruptive’ force / Bloomberg (paywall)
“Prime Minister Justin Trudeau’s top diplomat called China an ‘increasingly disruptive global power’ and warned that Canadians need to be ‘clear-eyed’ about conducting business with the Asian giant.”
Canada FM warns businesses against deepening China ties / AP
China calls Canadian minister’s remarks contrary to fact / Reuters

SOCIETY AND CULTURE:

Is nothing sacred in COVID zero China?
Chinese city slammed for turning heritage site into COVID shelter / Sixth Tone
“A 58-year-old historic and cultural center is being transformed to accommodate 10,000 people infected with the coronavirus.”

Orphans in ancient China
Orphans’ ordeals in ancient China / World of Chinese
“When family members were not available, which was often the case after catastrophic events like famine, natural disasters, and war, other organizations had to step up to care for orphans and abandoned children.”

Nationalism is trendy among China’s fashionable youth
‘China-chic’ trend builds youngsters’ patriotism, cultural confidence / SCMP (paywall)
“Many young Chinese [are] seeking to revive traditional aesthetics and reflect their patriotism through their shopping choices.”

Will digital villages help modernize China’s rural areas?
Data farming: How digitalization is changing China’s villages / World of Chinese
“Can ‘digital villages’ fulfill their promise to modernize the countryside through technology?”