Highlighted links for Tuesday, November 15, 2022

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

BUSINESS AND TECHNOLOGY:

BMW makes a $1.4 billion bet on EV batteries in China
BMW commits $1.4 billion to expand EV battery output in China / Nikkei Asia (paywall)
“BMW will invest 10 billion yuan ($1.40 billion) to expand production of electric vehicle batteries in China, where the company aims to tap growing EV demand while fending off Tesla and local rivals.”

Foreign companies are adapting their China strategies, not leaving
Foreign companies adopt ‘China for China’ strategy / FT (paywall)
“Rather than rely on Chinese factories to produce goods that are ultimately sold elsewhere, the businesses are adopting a ‘China for China’ strategy, which aims to draw on deeper research and development facilities in the country to make products for a vast, growing domestic market.”

BYD cancels IPO for chipmaking unit
China’s BYD scraps IPO plan for semiconductor unit / Reuters
“Chinese automaker BYD said on Tuesday it had scrapped plans to list its semiconductor unit in China, saying a move to increase investments in wafer production would significantly affect the unit’s asset structure.”

Gloomy consumers and factories make for another month of poor economic data
China’s October retail and industrial data miss expectations / CNBC
China’s economic slump fuels call for stronger policy action / Bloomberg (paywall)
China’s economy takes a deeper hit as retail sales turn negative / WSJ (paywall)
China consumer, factory activity down as virus controls rise / AP
China industrial output, retail sales miss expectations in Oct / Reuters

Stocks boosted by Xi-Biden meeting
Chinese stocks in U.S. rise again on triple whammy of positives / Bloomberg (paywall)
“Chinese stocks listed in the US were set to rise for a fourth day, as traders digested a triple-whammy of positive news that has eroded the pessimism of a few weeks ago.”
Xi’s three big pivots rescue China markets from downward spiral / Bloomberg (paywall)

Rare earth shenanigans
China’s top rare earth mining company and top refiner fight over prices / Caixin (paywall)
“Inner Mongolia Baotou Steel Union Co. Ltd., the world’s largest rare earth mining company, is still pressing for a significant price increase from its only customer even though the buyer’s shareholders rejected two previous proposals.”

Great Wall Motor doubles down on Thailand
China’s Great Wall Motor to double Thai EV investment / Nikkei Asia (paywall)
“Chinese automaker Great Wall Motor vowed to double its investment in Thailand to maintain its place as one of the leading electric vehicle brands in the country as the competition closes in.”

Shopping app Dewu accused of trying to mine user data
Shopping app accused of accessing phone data, trying to delete video / Sixth Tone
“A popular shopping app targeting young consumers has been accused of accessing one of its shoppers’ phones and attempting to delete a video, raising concerns over tech companies intruding on user privacy.”

SCIENCE, HEALTH, AND ENVIRONMENT:

China’s looming demographic crisis
Millions of missing women: China grapples with legacy of one-child policy as population ages / Guardian
“By 2050, analysts predict one in four people in China will be retired and the working population will have shrunk by 10%, with huge economic implications.”

U.S.-China unfreeze climate talks after Xi and Biden meet
U.S. and China restart climate talks / NYT (paywall)
“Discussions about combating climate change between the world’s two largest economies, and two biggest emitters of greenhouse gasses, had been frozen since August.”
China, U.S. to resume climate talks halted after Pelosi trip / AP

Chinese funding for renewable projects overseas
How host country policies are driving Chinese finance for renewables / China-Global South project (paywall)
A new assessment published in the journal of Energy Research & Social Science found that “host country policies decisively steer Chinese policy bank finance towards renewable energy and in particular, host country incentives for renewables, a lack of a competitive regulatory environment and strong host country energy grids are crucial determinants of Chinese finance for renewable energy.”

Security trumps clean energy when it comes to coal
China climate advisers say more coal needed for energy security / Bloomberg (paywall)
“China’s plans to add to its world-leading fleet of coal power plants are a short-term Band-Aid to address energy security concerns and don’t represent a shift in emissions policies, according to members of the team representing the nation at the COP27 summit.”
Rich nations stick to coal phase-out as China builds new plants / Reuters

POLITICS AND FOREIGN AFFAIRS:

China’s plans for Taiwan?
What Kevin Rudd got wrong on China: Taiwan and great rejuvenation / Pekingnology
Pekingnology’s Zichen Wang writes: “The renowned China hand mistook Beijing’s linking of Taiwan and the ‘great rejuvenation’ as a recent development and failed to trace the origin of the ‘great rejuvenation’ of the Chinese nation.”
A dangerous game over Taiwan / New Yorker
“For decades, China has coveted its island neighbor. Is [Xí Jìnpíng 习近平] ready to seize it?”

Canada charges EV battery researcher Hydro-Québec for China espionage
Canada charges electric vehicle battery researcher with espionage for China / Guardian
Canadian police charge battery researcher with China espionage / Bloomberg (paywall)
Canada police charge Hydro-Québec employee with China spying / AP

Europe unnerved by reports of Chinese overseas police stations
China’s offshore ‘police service stations’ spark European alarm / FT (paywall)
Recent reports of China’s overseas police stations “have sparked alarm among European governments already distrustful of China’s growing extraterritorial influence.”

Xi urges France and Netherlands not to hop on U.S.-led bandwagon
Xi calls for French respect and cooperation in meeting with Macron / SCMP (paywall)
Xi tells Dutch PM to avoid decoupling amid U.S. pressure on chips / Bloomberg (paywall)

SOCIETY AND CULTURE:

A trip around the Arctic to raise climate change awareness
Chinese sailor returns home after circumnavigating the Arctic / Sixth Tone
“The 54-year-old man journeyed for 17 months on a solar-powered yacht to raise awareness of climate change.”

Rural families still look to education for a better life
Despite long odds, rural Chinese continue to bet on education / Sixth Tone
“Contrary to popular belief, rural Chinese still see education as a viable path to social mobility.”