Highlighted links for October 24, 2023

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

BUSINESS AND TECHNOLOGY:

The boss goes to the central bank
China’s Xi makes first known visit to central bank / Reuters
“Chinese President Xí Jìnpíng 习近平 made his first known visit to the nation’s central bank since he became president a decade ago, two sources with knowledge of the matter said, as China’s economy and financial markets grapple with headwinds.”

U.S.-China tech war
U.S. chip curbs stymie efforts by China surveillance group to diversify / FT (paywall)
“SenseTime, once the darling of China’s artificial intelligence sector, has been pushing to diversify away from unreliable government revenues by snapping up high-powered chips that every AI company wants.”

Automobile industry
Mitsubishi Motors to end production in China, invest in Renault EV unit / Reuters
“Japan’s Mitsubishi Motors said it will end production of its cars at its joint venture in China and transfer its stake in the unit to its Chinese partner, becoming the latest foreign automaker to cut back its operations in the world’s top auto market.”

China’s wealthy
Number of China’s wealthy falls amid property crisis, Hurun finds / Nikkei Asia (paywall)
“The number of Chinese individuals worth more than 5 billion yuan ($690 million) has fallen 15% from its peak in 2021, reflecting the property crisis-plagued economic slowdown and competitive e-commerce landscape.”

AI
China banks jump on AI bandwagon to cut costs / Caixin (paywall)
“Banks in China are turning to artificial intelligence (AI) to save on labor costs and improve efficiency, but the transition faces both technical and regulatory hurdles, according to experts in the field.”

Private sector
China takes aim at development roadblocks in private sector / Caixin (paywall)
“China’s cabinet has announced plans to launch a sweeping inspection campaign next month to tackle issues hindering economic development, especially ones affecting private enterprises.”

POLITICS AND FOREIGN AFFAIRS:

Defense Minister sacked, removed from State Council along with former foreign minister
China announces the removal of defense minister missing for almost 2 months with little explanation / AP
“China has replaced Defense Minister Gen. Li Shangfu, who has been out of public view for almost two months, state media reported Tuesday. No further information was given.”
China ousts defense minister, the second senior leader to leave in three months / Reuters
Li Shangfu axed as defense minister in second China leadership shock / SCMP (paywall)
Removal of Li Shangfu as China’s defense minister ends stratospheric career in space, military and government / SCMP (paywall）
China officially expels Li Shangfu as defense minister / Nikkei Asia (paywall)
China removes defense minister Li Shangfu, state broadcaster says / Caixin (paywall)
China strips missing defense minister of government posts / WSJ (paywall)
China dismisses defense minister amid swirl of speculation / NYT (paywall)
China’s ex-foreign minister Qin Gang stripped of last remaining state title / SCMP (paywall)
“Qin Gang, China’s shortest-serving foreign minister, has been stripped of his only remaining government title.”

New finance minister
China names Lan Foan as new finance minister amid stimulus push / Nikkei Asia (paywall)
“China has appointed Lán Fóān 蓝佛安, a technocrat with little central government experience, as the new finance minister, state media said on Tuesday, as the government ramps up fiscal stimulus in a bid to revive the economy.”

Xinjiang exports surge
Xinjiang defies Western sanctions as foreign trade hits record high, surges by 47% / SCMP (paywall)
“Western China’s Xinjiang Uygur autonomous region defied Western sanctions in the first nine months of the year as its foreign trade hit a record high.”

U.S. official discovers Hong Kong has no Second Amendment
U.S. state senator says carrying gun into Hong Kong was ‘honest mistake’ / SCMP (paywall)
“A U.S. state senator has called his arrest in Hong Kong on suspicion of possessing a gun without a license the result of an ‘honest mistake’ after he forgot he had the firearm in his briefcase until he was on a flight to the city.”
‘Honest mistake,’ says U.S. politician arrested on gun charge in Hong Kong / NYT (paywall)

Academic repression in Hong Kong
Hong Kong universities under pressure as academics head for exits / FT (paywall)
“The effects of Beijing’s crackdown on civil liberties in the Chinese territory was one major factor in Kobayashi’s decision to give up his higher Hong Kong salary for a lower-paid position in Tokyo, he said.”

Taiwan elections
Latest Taiwan election survey is more bad news for Tsai Ing-wen’s ruling DPP / SCMP (paywall)
“Support from Taiwanese voters for the ruling independence-leaning Democratic Progressive Party presidential front runner William Lai Ching-te has fallen below 30 per cent for the first time in seven months.”
Taiwan presidential hopeful calls for better economic ties with China / Nikkei Asia (paywall)
“An opposition candidate for Taiwan’s presidency has called for better economic ties with China, while also warning of Beijing’s recent economic coercion.”
Taiwan presidential frontrunner blasts China over Foxconn probe / FT (paywall)
“Taiwan’s leading presidential candidate has blasted China over a probe of Apple supplier Foxconn, accusing Beijing of unfairly targeting the Taiwanese company ahead of an election early next year.”

U.S.-China competition and tensions
California governor visits China and says his state will always be a partner on climate change / AP
“The governor of California opened a week-long trip to China on Monday with an assurance that his state will always be a partner on climate issues no matter how the U.S. presidential election turns out next year.”
China, U.S. officials discuss macroeconomic developments in meeting / Reuters
“Officials from the United States and China on Monday held a two-hour long virtual meeting to discuss domestic and global macroeconomic developments, the U.S. Treasury Department said, calling the meeting ‘productive and substantive.’”
China’s top diplomat to visit Washington / Caixin (paywall)
“Foreign Minister Wang Yi will travel to the U.S. this week and meet with senior American officials, the Chinese foreign ministry confirmed Tuesday, as the world’s two major powers continue high-level communications aimed at stabilizing bilateral ties.”

Philippines
U.S. renews warning it will defend Philippines after incidents with Chinese vessels in South China Sea / AP
“The United States renewed a warning Monday that it would defend the Philippines in case of an armed attack under a 1951 treaty, after Chinese ships blocked and collided with two Filipino vessels off a contested shoal in the South China Sea.”

Cambodia
Billion-dollar airport whets Cambodia’s appetite for Chinese investment / Caixin (paywall)
“Planes have begun landing at a new Chinese-built airport near the city of Siem Reap, the latest symbol of how Cambodia is pinning its hopes for infrastructure investment on its political and economic patron.”

Israel-Hamas war
China’s Wang Yi calls Israeli, Palestinian foreign ministers, condemns harm to civilians / SCMP (paywall)
“In the first call to his Israeli counterpart since the Gaza war began, Chinese Foreign Minister Wáng Yì 王毅 stressed that countries acting in self-defense are obliged to protect civilians.”
China delivers emergency humanitarian aid to Gaza / Caixin (paywall)
“China has delivered emergency humanitarian aid to the people of Gaza and will continue to provide material assistance to them as needed, China’s top diplomat said, as the death toll in the Israel-Hamas war climbs to over 6,000 people.”

Denmark
Denmark has been ‘naive’ on China and now seeks to ‘de-risk,’ PM says / Nikkei Asia (paywall)
“Danish Prime Minister Mette Frederiksen said her country plans to strengthen partnerships with countries like Japan as it seeks to ‘de-risk’ its relations with China.”

Japan
China missile edge over U.S. puts Japan at risk of threats / Nikkei Asia (paywall)
“China’s advantage over the U.S. in theater-range missiles in Asia could enable it to “intimidate” frontline states like Japan during a crisis over Taiwan, according to an expert specializing in China’s military strategy.”
Japan names Yamada envoy to U.S., Kanasugi to China / Nikkei Asia (paywall)
“The Japanese government on Tuesday named Shigeo Yamada and Kenji Kanasugi as its new ambassadors to the United States and China, respectively, both effective immediately.”

SOCIETY AND CULTURE:

Feminism
Opinion: For more babies, China must ensure its population policy is fit for the modern woman / SCMP (paywall
Qian Liu writes: “With China’s fertility rate having fallen off a cliff, many experts have offered a variety of advice for addressing the problem. But all of the proposals lack an essential component: a critical perspective on the role of gender.”

Education
Young Chinese embrace budget-friendly elderly universities / Sixth Tone
“In China’s growing number of universities meant for the elderly, young Chinese are finding good value for their money — and company.”