Links for Wednesday, November 23, 2022

IMF tells China to recalibrate its coronavirus policy
IMF urges China to ‘recalibrate’ coronavirus policy, aid vulnerable households amid shaky external environment / SCMP (paywall)
“China should consider cutting interest rates and offering more fiscal support to vulnerable households as the country needs a solid domestic recovery next year to offset a deteriorating external environment, a senior official with the International Monetary Fund (IMF) said on Wednesday.”

International travel still lags amid COVID
Airlines complete only 70% of planned international China flights / Caixin (paywall)
“Chinese and global airlines completed only 70% of their planned international flights to China in the three weeks through Monday, signaling that recent easing of some inbound travel restrictions didn’t boost travel demand.”

Fosun wants to sell stake in Cainiao
China’s Fosun seeks to sell stake in Alibaba’s logistics arm Cainiao- sources / Reuters
“Debt-laden Chinese conglomerate Fosun Internationa is seeking to offload a minority stake in Alibaba Group’s logistics arm Cainiao, in a deal that could fetch up to $1 billion, two people with direct knowledge of the matter said.”

China seeking lithium dominance
China ‘played a great game’ on lithium and we’ve been slow to react, industry CEO says / CNBC
“China is leading the way when it comes to lithium — and the rest of the world has not been quick enough to respond to its dominance, according to the CEO of American Lithium.”

Unfair digital competition under scrutiny
China proposes tougher restrictions on unfair digital competition / Caixin (paywall)
“China is revising a law to make illegal certain notorious practices by large internet platforms such as Alibaba, Tencent and JD.com. The move is another regulatory response to big tech companies’ use of market dominance and advanced technology to undermine competition.”
China big tech faces tougher penalties for unfair pricing under revised antitrust law / SCMP (paywall)

Beijing goes softer on video games
China is showing signs its intense crackdown on the video game sector is easing / CNBC
“Beijing is showing signs that its intense crackdown on the domestic video games sector could be easing which may be bullish for Chinese tech giants including Tencent and NetEase.”

China set to lead OLED panel production
China poised to amass 43% of global OLED panel output capacity / Nikkei Asia (paywall)
“China is on track to control 43% of global OLED panel production capacity, putting it in striking distance of the South Korean competition.”

China gains share in high-tech categories
China widens market share in EVs, dozen other high-tech fields / Nikkei Asia (paywall)
“Chinese companies have captured more global market share in 13 high-technology products and services, from electric vehicles to smartphones, Nikkei research shows, underscoring China’s outsized presence in global supply chains.”

China’s luxury market goes strong despite COVID
Bain report: China to make up 40% of luxury consumers by 2030 / Jing Daily
“A recent study released by Bain & Co. and Altagamma projects that the industry will reach $1.4 trillion in sales revenue this year, growing 21 percent from 2021. Despite high inflation and rising costs of living, as well as ongoing COVID-19 restrictions, some 95 percent of luxury brands reported positive growth in 2022.”

China’s academic impact goes up through high-profile scientists and institutions
Chinese scientists’ academic influence continues to rise as US researchers’ impact declines, international survey shows / SCMP (paywall)
“The number of high impact scientists in China has increased for a fifth consecutive year while the United States, although still leading, has experienced a persistent decline, according to the latest global citation list which evaluates scientists’ academic impact.”

A wild gene in corn
Chinese scientists hoping wild ancestor of corn can help improve food security / SCMP (paywall)
“Chinese researchers have discovered a key gene in the wild ancestor of corn that could help increase its protein content and reduce the use of fertilizer.”