Highlighted Links for Wednesday, November 23, 2022

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

BUSINESS AND TECHNOLOGY:

• Has China’s tech sector become investable again?
  China tech earnings beat fuels upswing optimism / Bloomberg (paywall)
  “Market watchers are growing increasingly upbeat about the sector’s prospects after a slew of top-line beats by industry behemoths such as JD.com Inc. and Baidu Inc.”

• Yunnan Energy’s billionaire siblings are in trouble
  Key-man risk is back as China probe puts $7 billion wealth at risk / Bloomberg (paywall)
  “Shares of Yunnan Energy New Material Co. plunged by as much as the 10% daily limit in Shenzhen for two consecutive days after the Chinese maker of paper packaging and lithium battery films unveiled its chairman and vice chairman were under police surveillance.”

• China’s quest for chip independence
  China buys fewer chip-making machines as US restrictions start / Bloomberg (paywall)
  “China’s purchases of machines to make computer chips fell 27% last month from a year earlier as the US imposed new, sweeping sanctions to try and derail the country’s chip ambitions.”
  China’s Baidu says it expects ‘limited’ impact from U.S. chip curbs / CNBC
  “Chinese tech company Baidu expects that impact from U.S. chip sanctions on its businesses will be “limited,” a company executive said on Tuesday during a Q&A session of its third quarter earnings call.”

• Xiaomi revenue falls
  Xiaomi misses earnings, sales expectations in 3rd quarter as smartphone demand falls / SCMP
  “Xiaomi Corp’s quarterly revenue fell almost 10 per cent as it battled a slumping global smartphone market and weak consumer demand at home.”

• Strict COVID rules cost Hong Kong’s retail crown
  COVID-hit Hong Kong loses luxury shopping crown to New York / FT (paywall)
  “Hong Kong has lost its crown for having the world’s priciest retail district by rent to New York, after the city’s economy was hit by visitor restrictions and strict Covid measures as part of its slow recovery from the pandemic.”

• Chinese casualties of FTX debacle
  FTX customers in mainland China make up 8 per cent of total, a court filing shows, defying Beijing’s crypto ban / SCMP (paywall)
  “Mainland China customers of FTX, the cryptocurrency exchange that rapidly imploded this month, made up 8 per cent of the company’s customer base despite the country’s ban on crypto trading, according to a filing on the first day of its bankruptcy hearing.”

• Eager investors in China’s incoming private pension system
  HSBC, AllianzGI, Manulife, Prudential eye China’s US$1.5 trillion private pensions as Beijing cuts industry shackles in world’s fastest-ageing economy / SCMP (paywall)
  “​​HSBC, Allianz Global Investors and Manulife Investment Management are among some of the biggest international players keen to capture China’s private pension business after regulators announced rules for reforming the US$1.5 trillion market.”

SCIENCE, HEALTH, AND ENVIRONMENT:

• COVID slows China’s clean energy expansion
  China’s clean energy expansion stutters as COVID curbs and high costs slow installations / Bloomberg (paywall)
  “China’s world-leading ramp-up of clean energy is stuttering as rising costs and Covid restrictions take their toll on the pace of solar and wind installations, heaping pressure on developers to meet their annual targets.”

• Huge mountains of coal
  China’s record coal output to weigh on prices amid weak demand / Bloomberg (paywall)
  “China’s coal production is set to climb for the sixth year in a row, reaching a new record.”

• Outdated classification helps China avoid climate responsibilities
  How China, the world’s top polluter, avoids paying for climate damage / Washington Post (paywall)
  “United Nations still considers China, now the world’s second-largest economy and biggest annual polluter, a developing country.”

POLITICS AND FOREIGN AFFAIRS:

• Taiwan election 2022
  Why Taiwan referendum on lowering voting age to 18 has Beijing keeping close watch / SCMP (paywall)
  “Taiwan holds its first-ever constitutional referendum this weekend — a vote slammed by Beijing as a bid to pave the way for formal independence for the self-run island.”
  Taiwan says it sees less Chinese interference ahead of elections / Reuters
  “Taiwan is seeing less Chinese interference ahead of its local elections, possibly due to China’s own domestic problems and its efforts to improve its international image, Taiwanese Foreign Minister Joseph Wu said on Wednesday.”
  Covid-19 rules threaten thousands of votes in Taiwan local elections / SCMP (paywall)
  “The Covid-19 pandemic has taken its toll on Taiwan’s local elections, with voters barred from casting their ballots in the weekend’s polls if they are infected or risk fines of up to NT$2 million (US$32,000).”
  Taiwan’s Tsai faces tough battle in local elections / Nikkei Asia (paywall)
  “Taiwan’s ruling Democratic Progressive Party (DPP) led by President Tsai Ing-wen will likely struggle in local elections to be held on Saturday.”

• A Chinese-funded parliament in Zimbabwe
  Zimbabwe unveils ‘majestic’ $200 million China-built parliament / SCMP (paywall)
  “Zimbabwean President Emmerson Mnangagwa hailed ‘excellent’ relations with China as he, for the first time, delivered a State of the Nation address at a new multimillion-dollar parliament building gifted by the Asian economic giant.”

• China and Japan come closer in maritime-related affairs
  China and Japan agree to move on maritime dialogue and military hotline days after Xi Jinping and Fumio Kishida meet / SCMP (paywall)
  “Beijing and Tokyo have agreed to deepen their maritime dialogue, manage differences over Taiwan and their territorial disputes and open a military hotline, all in a diplomatic consultation just days after leaders of the Asian rivals met for the first time in three years.”

• Canada investigates Chinese police stations in Toronto
  Canada probes reports of Chinese ‘police service stations’ in Toronto as national security threats / SCMP (paywall)
  “Canadian police said on Tuesday they were investigating reports of Chinese “police service stations” operating in the Greater Toronto Area for possible interference in Canadian interests and threats to national security.”

SOCIETY AND CULTURE:

• Avatar 2 will be released in China
  Box office: ‘Avatar: The Way of Water’ lands coveted China release / The Hollywood Reporter
  “James Cameron’s long-awaited sequel Avatar: The Way of Water has landed a coveted release at the China box office, Disney and 20th Century confirmed late Tuesday.”

• The rise of female architects in China
  The voice of women in Chinese architecture / ArchDaily
  “The voice of women in architecture encompasses a sense of consciousness inside traditionally male-dominated design rather than being restricted to female-dominated design.”

• Why is online hate speech so pervasive on the Chinese internet?
  How hate speech falls through the cracks of the Chinese internet / Sixth Tone
  “In an otherwise tightly regulated online environment, harassment and hate speech often go unmoderated.”