Highlighted links for October 26, 2023

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

BUSINESS AND TECHNOLOGY:

Electric vehicles
Stellantis plugs China hole with $1.1 billion Leapmotor deal / Bloomberg (paywall)
“Stellantis NV has struck a $1.1 billion deal for a stake in Chinese electric vehicle maker Zhejiang Leapmotor Technologies Ltd. just days after ending manufacturing in the country, as legacy global automakers race to catch up with a new breed of rivals leading the transition to battery-powered cars.”
Stellantis to invest €1.5 billion for 20% stake in Chinese EV maker Leapmotor / FT (paywall)
Stellantis to buy 21% of China’s Zhejiang Leapmotor for $1.6 billion / Nikkei Asia (paywall)
Chinese EV maker Leapmotor to build EVs at Stellantis plant: executive / TechNode

Nomura
Nomura overhauls China joint venture as losses mount / FT (paywall)
“Japan’s biggest investment bank Nomura has begun restructuring its lossmaking joint venture in China after delays in securing the licenses needed to expand its business in the country.”
Nomura reassesses mainland China business plan as losses mount / Reuters
Nomura redraws China strategy, cuts jobs after losses deepen / Bloomberg (paywall)

Country Garden and China’s beleaguered property sector
Country Garden’s missed bond payment triggers CDS payout / Bloomberg (paywall)
“Derivatives that protect against a default by Country Garden Holdings Co. were triggered after the troubled Chinese developer didn’t pay interest on a dollar bond.”

Graphite curbs
China says graphite export curbs not targeted at specific sector / Reuters
“China’s commerce ministry said on Thursday that recently announced restrictions on graphite exports are not targeted at any specific sector.”
Battery makers hunt for graphite ahead of China controls / Bloomberg (paywall)
“South Korean companies are rushing to buy more graphite from China before export controls on [the] electric vehicle battery ingredient take effect in December.”

Chips and the U.S.-China tech war
Uncle Sam orders Nvidia to cease most AI chip sales in China ‘immediately’ / Register
“Restrictions on the export high-performance AI accelerators to China have already gone into effect, Nvidia informed investors in a Monday regulatory filing.”
U.S. orders immediate halt to some AI chip exports to China, Nvidia says / BBC

Ecommerce
China’s TikTok bans rapid livestream selling / Sixth Tone
“Starting from Friday, Douyin will forbid such ‘rapid introductions’ marketing tactics, whereby products are introduced one after the other with minimal or no product information provided. Violators may be fined and even see their accounts closed.”

Illegal wood
Chinese company exports illegal timber worth millions from D.R.C. despite ban: report / China-Global South Project (paywall)
“Congo King Baisheng Forestry Development, a Chinese-owned timber company, exported $5 million worth of illegally logged timber in the first six months of 2023 alone, according to a new report by Global Witness.”

SCIENCE, HEALTH, AND ENVIRONMENT:

Space
China sends three more astronauts to space station / Bloomberg (paywall)
“China has successfully launched a rocket to send a team of three astronauts to the nation’s space station.”
China’s youngest-ever astronauts blast off to space station / Al Jazeera
China has sent its youngest-ever astronaut crew to the Tiangong space station / CNN

Archaeology
Dozens of ancient stone grenades found in Great Wall of China weapons storehouse / SCMP (paywall)
“Archaeologists in China discovered 59 stone grenades inside the first-ever weapons storehouse found along the Great Wall of China.”

POLITICS AND FOREIGN AFFAIRS:

Israel-Hamas war
Israeli envoy says Taiwan a good friend, China’s response to Hamas attacks ‘disturbing’ / Reuters
“Israel’s envoy in Taipei said on Thursday that Taiwan has been a ‘good friend’ whose support Israel has appreciated, but China’s response to the attack by Hamas militants has been ‘disturbing.’”
China vetoes ‘evasive’ U.S. proposal on Gaza at deadlocked UN Security Council / SCMP (paywall)
UN Security Council rejects dueling pushes to pause Gaza fight / Bloomberg (paywall)
“The United Nations Security Council voted down dueling U.S. and Russian resolutions that sought to pause the fighting between Israel and Hamas and open the flow of humanitarian aid, as pressure mounted on Israeli Prime Minister Benjamin Netanyahu to let food and medicine into the Gaza Strip.”

U.S.-China war-of-words over the Philippines, South China Sea
Biden warns China After Incidents Involving Philippine Ships / Bloomberg (paywall)
“President Joe Biden warned China that the U.S. would be forced to intervene if Beijing attacks Philippine vessels in the South China Sea, after two separate collisions in the disputed waterway over the weekend.”
U.S. worries about escalation in Pacific as China steps up confrontation / WSJ (paywall)
“Amid the tensions, talks between the U.S. and Chinese militaries remain largely frozen, which leads Washington to worry that a misstep could trigger a dangerous escalation.”
Biden warns China not to attack the Philippines / FT (paywall)
China says U.S. has no right to get involved in its problems with Philippines / Reuters
Philippines ‘not at war with China’ but says Xi’s sea talks are ‘just for show’ / SCMP (paywall)
China releases videos showing ‘provocative’ actions by U.S. ship / Bloomberg (paywall)
“China’s military released video footage that it said shows ‘provocative’ actions by a U.S. warship in the South China Sea, escalating a dispute between the nations over maneuvers by their navies in the disputed body of water.”
Views from Manila on China-Philippines confrontations in South China Sea / China-Global South Project (paywall)
“The recent confrontations between Chinese and Filipino vessels in the South China Sea are prompting significant commentary in the Philippines media, where it appears that public opinion toward China is hardening. Commentators have taken a distinct[ly] tough line on the relationship, accepting that it’s going to be tough going in the years ahead.”

U.S.-China ties
Exclusive: Biden set to speak with China’s top diplomat Wang Yi on Friday, sources say / Reuters
Xi calls for stable ties in meeting with California governor Newsom / Caixin (paywall)
Gavin Newsom, on climate mission to China, gets an audience with Xi / NYT (paywall)
U.S.-China ties quietly mending even as global turmoil surges / Bloomberg (paywall)
“With the Israel-Hamas war further dividing a world shaken by Russia’s invasion of Ukraine and elevated inflation, U.S.-China ties are suddenly providing cause for some optimism.”
China’s defense ministry blasts Pentagon’s annual report / Reuters

Russia and Central Asia
China Premier urges stepped up trade, investment with Russia / Bloomberg (paywall)
“Chinese Premier [Lǐ Qiáng 李强] told his Russian counterpart that he wants to boost their trade and other cooperation, underscoring the nations’ close ties with the war in Ukraine well into its second year.”
China’s Li Qiang calls for progress on Central Asia railway / Nikkei Asia (paywall)
“Chinese Premier Li Qiang called for accelerated cooperation on a planned international railway linking China, Kyrgyzstan, and Uzbekistan during a visit to the Kyrgyz capital of Bishkek on Wednesday, Russian and Chinese state media reported.”

Australia
Australia police arrest seven in money laundering bust linked to Chinese organized crime / Reuters
“Australian police have arrested seven members of an alleged Chinese crime syndicate for laundering hundreds of millions of dollars through one of the country’s largest money remitters after a giant sting operation involving U.S. Homeland Security.”
Australia raids ‘sophisticated’ Chinese crime ring operating in ‘plain sight’ / SCMP (paywall)

Taiwan
Taiwan monitors Chinese carrier group in Pacific / Reuters
“Taiwan’s military sent forces to keep watch on Thursday after a Chinese naval formation led by the aircraft carrier Shandong passed the island’s south and entered the western Pacific, Taiwan’s defense ministry said.”
Taiwan reports 15 Chinese air force planes in its air defense zone / Reuters

The Communist Party, elite politics, and government
Li Shangfu’s dismissal as defense chief came with no details, but a few clues / SCMP (paywall)
China’s firing of defense minister: Five takeaways / Nikkei Asia (paywall)

Censorship and dissent
Trial of Uyghur filmmaker to begin in China this week / Guardian
Ikram Nurmehmet, “a Uyghur filmmaker who was arrested in Beijing earlier this year will appear on trial in Xinjiang on Wednesday.”

SOCIETY AND CULTURE:

Fashion
Bridal fashion capital: How Chaozhou holds its place in the spotlight / Sixth Tone
“Chaozhou, once the world’s bridal gown-making hub, is resorting to legacy, adaptability, and originality as it grapples with challenges ranging from a shifting market to the pandemic.”

LGBTQ
China’s biggest gay dating app wants to beat Grindr / Rest of World
“Facing censorship and competition at home, Blued has plans to build the world’s largest gay social platform.”

Art
Australia returns smuggled historical artifacts to China / BBC
“A dinosaur fossil and two Tang Dynasty figurines were handed to the Chinese embassy in Canberra.”

Digital crackdown
China cracks down on youth cyberbullying, gaming addiction / Caixin (paywall)
“State Council announces regulations that require platforms to better protect minors online, including by monitoring private messages and using AI.”