Highlighted links for October 2, 2023

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

BUSINESS AND TECHNOLOGY:

China’s growing trade with Russia
Trade between Russia and China is booming so much that shipping containers are ‘piling up’ / CNN
Container xChange, a firm that helps shipping companies manage their containers, “said in a report that there is significant cargo movement from China into Russia but very scarce movement back to China from Russia.”
Chinese payment service aiming to enter Russian market / RT
“Chinese payment company Helipay is in talks with Russian banks to set up cross-border transactions, the company’s development director told the International Banking Forum in Sochi on Friday. “

Economic gloom or boom
Crisis? What crisis? China’s domestic tourism is booming / SCMP (paywall)
“While Chinese consumers have put off big purchases, especially property, travel-related spending has rebounded strongly. Deprived of the opportunity to go abroad for three years, travelers have sought out new leisure experiences at home such as beach resorts, skiing trips and staycations.”
Does China’s property bust make a financial crisis inevitable? / WSJ (paywall)
“Perhaps not—if Beijing plays its cards right. But serious damage to the nation’s prospects is still likely. A look at the problem in five charts.”
China tourism revenue more than doubled over holiday weekend / Bloomberg (paywall)
​​China’s precarious economic recovery signals more support needed / Bloomberg (paywall)
China’s factory activity recovery slows in September / Reuters
China’s manufacturing PMI bounces back to expansion territory in September / Xinhua

Data restrictions
China looks to relax cross-border data security controls / FT (paywall)
“Draft rules from cyber regulator aim to stem concerns over transfer of foreign business data.”
Five things to know about China’s relaxed draft rules on cross-border data transfers / Caixin (paywall)

Britain to follow U.S. lead on China curbs?
U.S. government quizzes British firms on Chinese investment links / Politico
“Business and Trade Minister Nus Ghani told Politico that the U.K. government was waiting on the results of the U.S. survey to make a decision on whether to follow America’s lead and clamp down on British investment into China.”

Foreign business in China
Beijing’s mixed messages leave businesses ‘questioning’ investments in China / Guardian
“A renewed focus on national security coupled with rising geopolitical tensions has damaged confidence in the private sector.”

Risky business for investment bankers
China Renaissance names co-founder Xie Yijing as acting CEO / Bloomberg (paywall)
China Renaissance Holdings Ltd. has appointed Kevin Xie (谢屹璟 Xiè Yìjǐng) as acting chief executive officer after the company’s chairman and founder Bāo Fán 包凡 disappeared in February. Bao and another China Renaissance executive Cóng Lín 丛林 are reported to be involved in a police investigation.

Risky business for real estate tycoons
Evergrande seeks to renew trading after chair suspected of crime / Bloomberg (paywall)
China Evergrande Group seeks to resume trading on the Hong Kong Stock Exchange Tuesday following a halt last week after its billionaire founder [许家印 Xǔ Jiāyìn a.k.a. Hui Ka Yan] was suspected of committing undisclosed crimes.
China Evergrande’s founder: From rags to riches to under investigation / NYT (paywall)
“Hui Ka Yan (许家印 Xǔ Jiāyìn), who grew up poor in the countryside, was a symbol of China’s economic rise. With Evergrande teetering, his future is uncertain, too.”

Risky business for foreigners
China blocks executive at U.S. firm Kroll from leaving the Mainland / WSJ (paywall)
“Move highlights an increasing risk facing foreign companies in China — getting their employees out.”

Semiconductors and AI
Taiwan shares soar led by TSMC, AI related stocks / Taiwan Focus
“Shares in Taiwan moved higher by more than 200 points Monday as large cap stocks, such as contract chipmaker Taiwan Semiconductor Manufacturing Co. (TSMC) and other tech stocks related to artificial intelligence development, rode the waves of the latest surge in buying.”

Electric vehicles
Opinion: U.S. has the trade tools needed for China’s EVs — but it must use them / FT (paywall)
Wendy Cutler, vice-president of the Asia Society Policy Institute, writes: “Action on unfair practices is essential to stop the auto industry suffering like steel, aluminum and solar.”
Tesla deliveries in focus amid global price cuts, muted China demand / The Street

Car exports
China’s Chery takes aim at Europe with SUVs from three car brands / Reuters

SCIENCE, HEALTH, AND ENVIRONMENT:

The Himalayas and climate change
On the roof of the world, a Chinese team tests extremes of environmental science / SCMP (paywall)
“A Chinese scientific expedition team reached the summit of Cho Oyu, the world’s sixth-highest mountain, on Sunday morning, state media reported…Some of the major questions under investigation will be the fallout from changes in the Asian water tower, and the state of ecosystems, carbon cycling, human activities and environmental safety.”

Power generation, fossil fuels, green tech
China’s power sector investments may top $13.7 trillion by 2060 / Reuters
“China’s investments in its power sector may exceed 100 trillion yuan ($13.7 trillion) from 2020 to 2060” according to State Grid Corp. of China…The timeframe of the investment is in line with President Xí Jìnpíng’s 习近平 pledge for China to attain net-zero emissions of greenhouse gasses including carbon dioxide by 2060.”
Chinese underwater explorer dives deep in hunt for oil and gas / SCMP (paywall)
A Chinese-developed marine seismic explorer system is set to release a deep-sea geological structure map after completing its first ultra-deep exploration at 3,000 metres (8,850 feet), state broadcaster CCTV reported.

Coups and Belt and Road bumps
As coups threaten African stability, China struggles to make headway with Belt and Road interests / SCMP (paywall)
“On September 16, a delegation led by Liú Yùxī 刘豫锡 special representative of the Chinese government on African Affairs, held talks with the military leaders in Niger as China made sure it was in the new government’s good books.”

Environmental cooperation
European Commissioner Virginijus Sinkevičius visits China to step up dialogue on environment and discuss European Green Deal priorities / European Commission
“The aim of the visit was to follow up on the High-Level Environment and Climate Dialogue held on July 4, 2023 between the EU and China, engage in key political dialogues on biodiversity, ocean governance, environment and water as well as launch the high-level dialogue on circular economy.”

Space
Watch Chinese astronauts light a match on Tiangong space station (video) / Space.com
“The candle experiment would likely be impossible on the International Space Station, which has strict rules regarding flammable materials and open flames.”

POLITICS AND FOREIGN AFFAIRS:

Uyghur repression
U.S. condemns China’s reported life sentence of acclaimed Uyghur scholar / CNN
The U.S. State Department “has condemned China’s reported sentencing of prominent Uyghur academic Rahile Dawut to life in prison, calling for the immediate release of the scholar known for documenting folklore and traditions of the Muslim minority in China’s northwestern Xinjiang region.”

• Last week on The China Project: Outrage at China’s life sentence for Uyghur folklore scholar Rahile Dawut

Disinformation and propaganda
China says U.S. is the true ‘empire of lies’ / Reuters
“The United States is the true ‘empire of lies,’ the Chinese foreign ministry said on Saturday, lashing out at a U.S. State Department report that accused Beijing of plowing billions of dollars annually into information manipulation efforts.”

Panda diplomacy
Panda diplomacy: future of Chinese loans in doubt as U.S. prepares to farewell Mei Xiang, Tian Tian and Xiao Qi Ji / SCMP (paywall)
“A halt in panda loans would coincide with an increasingly frosty political relationship between the U.S. and China.”

South China Sea tensions — Philippines
Philippines defense chief says China is behaving like a bully / CNN
“China is behaving like a schoolyard bully toward smaller countries, the Philippine defense secretary [Gilberto Teodoro Jr.] told CNN.”

High speed rail diplomacy
China Belt and Road: Indonesia opens Whoosh high-speed railway / BBC
“Indonesia has inaugurated its first high-speed railway, a $7.3bn (£5.9) project backed by China under its Belt and Road Initiative. President Joko Widodo launched the service, which connects the capital Jakarta to Bandung, a top economic hub.”

Government restructuring
China lines up leaders for new agencies in wake of major personnel reshuffle / Caixin (paywall)
“China has unveiled the leadership lineups of several new central agencies, including those tasked with overseeing the country’s sprawling financial sector and dealing with public complaints, following a major restructuring of government and Communist Party institutions.”

The Arctic
China is gaining long-coveted role in Arctic, as Russia yields / WSJ (paywall)
“Isolated over Ukraine invasion, Moscow seeks Beijing’s help as it ships more oil east through polar routes.”

Maldives turns to China, again
Pro-China candidate Mohamed Muizzu wins Maldives presidency, upending relationship with India / AP
“Runoff vote was widely seen as a referendum on whether to pursue closer ties with China or India, both vying for influence in the island nation.”

Nepal
Prime Minister Dahal returns home after fortnight-long foreign trip / Kathmandu Post
After attending the UN General Assembly in New York, Prime Minister Pushpa Kamal Dahal visited China where he met Xí Jìnpíng 习近平, promised not to support Tibetan independence, watched Asian Games events, witnessed the signing of 12 bilateral agreements and pacts, and visited Mansarovar Lake in Tibet, “a highly revered pilgrimage site for Hindus, Buddhists and Jains.”

• Last week on The China Project: Nepal and China ink 12 deals, despite tensions over maps and infrastructure projects

East Africa
Activists worried about Uganda’s China-backed oil pipeline / VOA
“Thousands of families displaced, wildlife habitats — home to vulnerable species such as elephants and chimpanzees — threatened, and carbon emissions increased. These are some of the risks from a planned oil pipeline stretching from Uganda’s Lake Albert to Tanzania’s Indian Ocean coast, environmentalists say.”

Taiwan tensions
Chinese fishers detained after ramming boat / Taipei Times
The Taiwanese “coast guard yesterday boarded a Chinese fishing boat and detained 17 crew for allegedly illegally harvesting fish and ramming a patrol vessel, the Hsinchu-based Flotilla 12 of the Coast Guard Administration said yesterday.”

Germany
Germany welcomes China’s support for G20 debt restructuring framework / Reuters
“Germany has welcomed a show of support from China for the G20 debt restructuring framework for poorer countries in a joint statement after their financial dialogue in Frankfurt over the weekend.”

SOCIETY AND CULTURE:

Women in the workforce
Cheers and tears: Life Stories of highly educated women in Shenzhen / Made in China
An essay about “the experiences of highly educated women in Shenzhen, exploring the complex relationship between the promises of neoliberalism and the constraints it imposes on women’s agency.”

Men in Taiwan
Taiwan’s young men adrift / Taipei Times
“The government has for decades failed to stem the trend of stagnant salaries, skyrocketing housing costs and the growth of dead-end service jobs, which could put Taiwan’s democracy at risk.”