Highlighted Links for Tuesday, December 6, 2022

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

BUSINESS AND TECHNOLOGY:

• Will China’s battery makers take over Europe?
  Chinese battery makers set to dominate Europe’s car industry / FT (paywall)
  “By 2031, [China] is projected to have more production capacity in Europe, the second biggest market for EVs, than any other country, according to an analysis of public announcements by data provider Benchmark Minerals.”

• Winners and losers in China’s COVID testing industry
  China’s COVID testing complex complains of paper profits and real losses / Sixth Tone
  “The Paper dives into the data to see who’s making bank and who’s in trouble.”
  After zero-COVID, China’s health industry faces titanic shift / WSJ (paywall)

• China loosens up on overseas loans to lift embattled developers
  China relaxes restrictions on overseas loans so developers can repay dollar bonds / Caixin (paywall)
  “China’s financial regulators recently loosened restrictions on a lending mechanism to encourage banks to offer loans to overseas branches of property firms, many of whom are struggling to repay their U.S. dollar bonds, sources with knowledge of the matter told Caixin.

• It’s a long way before Chinese factories are out of the woods
  China’s factories struggle with slow dismantling of COVID curbs / Bloomberg (paywall)
  “Even as China slowly pivots away from COVID zero by relaxing rules in key cities — partly in response to widespread public anger against the punishing regime — a web of relentless curbs continues to hamper factories…Many of which remain in high-risk areas subject to more-targeted but still lockdown-like restrictions.”

• Tesla shares slump over Shanghai production cut
  Tesla falls on plan to cut output of EVs at Shanghai factory / Bloomberg (paywall)
  “Tesla Inc. plans to lower production at its Shanghai factory, according to people familiar with the matter, in the latest sign demand in China isn’t meeting expectations. The company’s shares fell in early trading.”

• Legal rulings on NFTs
  Chinese court clarifies NFTs are ‘virtual property’ / Sixth Tone
  “A court in eastern China’s Zhejiang province said that non-fungible token collections should be categorized as ‘virtual property’ and ought to be protected by state ecommerce laws.”

• Bilibili cuts jobs as it slims down
  Bilibili cost-cutting drive triggers lay-offs: report / TechNode
  “Chinese video platform Bilibili has taken steps to reduce costs and improve efficiency, including the ‘optimization’ of headcount, Chinese media outlet Late News reported on Monday.”

SCIENCE, HEALTH, AND ENVIRONMENT:

• China faces a long and uncertain road out of COVID zero
  Beijing scraps COVID test requirement for public places / Caixin (paywall)
  “Residents can enter areas including office buildings, supermarkets and residential communities without a negative result, but the government denied rumors of a complete end to testing.”
  Beijing drops COVID testing burden as wider easing beckons / Reuters
  China braced for COVID outbreaks among medical staff and migrant workers / FT (paywall)
  Chinese rush to stock up antigen kits, medicines as COVID prevention curbs ease / Reuters
  China’s elderly vaccine refuseniks pose obstacle for Xi Jinping / FT (paywall)

• Mental health problems for COVID-isolated youths
  Mental health crisis looms for young Chinese after three years of pandemic / SCMP (paywall)
  “While major Chinese cities have started phasing out draconian COVID-19 measures, the consequences of prolonged social isolation on mental health are unfolding in hundreds of millions of students across the nation.”

POLITICS AND FOREIGN AFFAIRS:

• China hits back at Pentagon report on nuclear buildup
  China blasts U.S. report, reiterates ‘no first use’ nuke policy / AP
  “China strictly adheres to its policy of no first use of nuclear weapons ‘at any time and under any circumstances,’ its Defense Ministry said Tuesday in a scathing response to a U.S. report alleging a major buildup in Beijing’s nuclear capabilities.”
  China says U.S. nuclear weapons report is speculation / Reuters

• Hope and concern for overseas Chinese over COVID zero protests
  COVID protests in China raise hope for solidarity among activists abroad / NYT (paywall)
  “People opposing Beijing over issues like Hong Kong, Taiwan or the persecution of Uyghurs see the moment as an opportunity to find common cause.”
  Chinese abroad: Worried, wary and protesting / NYT (paywall)
  “Chinese expatriates in the United States are elated but nervous as they watch the protests at home.”
  ‘Now I see it’s not just me who’s angry’: Readers in China on wave of protests / Guardian
  • Yesterday on The China Project: Opinion: Why Yale Daily News’ claim to journalistic ethics is untenable.

• Ministry of Commerce helps companies pass U.S. checks on sales to military
  China helps with U.S. tech firm scrutiny in sign of easing tension / Bloomberg (paywall)
  “Beijing has begun cooperating with U.S. efforts to ensure American technology isn’t routed to China’s military, according to people familiar with the matter, a positive step in relations between the countries since their leaders met last month.”

• Defense companies enjoy boom thanks to the PLA
  Strong sales growth for China’s top defense firms as demand rises at home / SCMP (paywall)
  “Arms sales by top Chinese defense firms grew in 2021 at the quickest rate in five years amid growing demand from China’s military, according to an independent think tank.”

• Protest in Mongolia against corrupt coal trade with China
  Mongolians protest alleged theft of coal sold to China / AP
  “Protesters angered by allegations of corruption linked to Mongolia’s coal trade with China tried to force their way into the State Palace in the capital, demanding dismissals of officials involved in the scandal.”

• Beijing paints a pretty picture of China in Africa
  Xi’s third term will power up Chinese messaging in Africa / China-Global South Project (paywall)
  Xí Jìnpíng’s 习近平 “third term will likely see the re-energizing and reshaping of China’s external relationships after its COVID lockdown.”

• Xi’s diplomatic frenzy
  China’s Xi has met with more than 25 world leaders since consolidating power at home / CNBC
  “In all, Xi has met with more than 25 heads of state — including U.S. President Joe Biden — since October 31, according to a CNBC count of releases on the Chinese Foreign Ministry’s English-language website.”

SOCIETY AND CULTURE:

• A bitter divorce plays out online
  Barbie Hsu, Wang Xiaofei, and the mattress incident: Weibo’s divorce drama of the year / What’s on Weibo
  “The post-divorce fight between [汪小菲 Wāng Xiǎofēi] and ‘Big S’ Barbie Hsu [徐熙媛 Xú Xīyuán] is taking place online, like a serialized drama going on for too long.”

• Gen Z challenges China’s brutal work culture
  China’s Gen-Z is entering the workforce. Employers are terrified. / Sixth Tone
  “Chinese companies have long pressured staff to work grueling hours for no extra pay. Militant Gen-Z staff are fighting back.”

• Legends of a lake monster in Xinjiang
  Could a lake in Xinjiang host China’s Loch Ness Monster? / World of Chinese
  “Since the 13th century, a mysterious creature in Kanas Lake has been killing livestock and baffling researchers. Could it be a lake monster?”