Highlighted links for Tuesday, November 8, 2022

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

BUSINESS AND TECHNOLOGY:

Nvidia pulls ahead with new chip that clears U.S. export curbs
Exclusive: Nvidia offers new advanced chip for China that meets U.S. export controls / Reuters
“U.S. chip maker Nvidia Corp is offering a new advanced chip in China that meets recent export control rules aimed at keeping cutting-edge technology out of China’s hands, the company confirmed on Monday.”
Nvidia offers alternative chip for China to clear U.S. export hurdles / WSJ (paywall)
Nvidia touts a slower chip for China to avoid U.S. ban / TechCrunch

Renault and Geely team up to build fossil fuel powertrains
Renault, Geely clinch deal for internal-combustion joint venture / Reuters
Renault, China’s Geely announced powertrain joint venture / AP

Apple can’t keep COVID zero away
Foxconn bid to ease worker fears of COVID led to tighter lockdown / WSJ (paywall)
“The company’s effort to continue iPhone production through an outbreak depended on lessening anxiety about a virus the government portrays as a deadly threat.”
Foxconn offers cash and rides to lure back runaway workers / Caixin (paywall)
Apple built its empire with China. Now its foundation is showing cracks. / NYT (paywall)
COVID surge tempers hopes ‘iPhone city’ lockdown will lift soon / Bloomberg (paywall)

New head for Hong Kong’s embattled airline
Cathay Pacific set to name customer boss Ronald Lam as next CEO / Bloomberg (paywall)
“Cathay Pacific Airways Ltd.’s board is planning to meet Wednesday to vote on appointing long-time manager Ronald Lam as the airline’s new chief executive officer, according to people familiar with the matter.”

Art sellers target mainland buyers via WeChat
WeChat is reshaping how international galleries reach clients in China / ARTnews
“WeChat has become an essential tool for international galleries seeking to reach people in mainland China.”

China’s biggest shopping festival of the year
Foreign brands a bright spot amid bleak Singles’ Day shopping festival / SCMP (paywall)
“A slowing economy amid COVID-19 controls have not deterred Chinese consumers from chasing deals from foreign brands on Alibaba’s Tmall, providing a rare bright spot in a lackluster Singles’ Day shopping festival.”
Cosmetics-makers slash Double 11 marketing budgets as consumer spending slumps / Caixin (paywall)
“Skin care and makeup producers turn to discounts and pare inventories ahead of the annual November shop-fest.”

ATR gets a foothold in China’s aviation industry
Europe’s ATR wins China approval for 42-600 turboprop plane / Reuters
“China has certified the ATR 42-600 regional turboprop, Franco-Italian planemaker ATR said on Tuesday in a long-awaited announcement coinciding with the start of the Zhuhai Airshow.”

Will China lose its spot as the world’s factory?
Is Vietnam, India, or Mexico replacing China? / Beijing Channel
“As China’s export and import slow, as demonstrated in the latest trade figures, the question of whether China is being replaced by other countries as the world’s top manufacturer is reverberating in various corners of the world.”

Chinese hotel chain Atour to IPO
Chinese hotel operator Atour pushes ahead with Nasdaq IPO / WSJ (paywall)
“Atour Lifestyle Holdings, a China-based hotel chain, is proceeding with a Nasdaq initial public offering just days after U.S. accounting regulators wrapped up a crucial audit inspection in Hong Kong.”

Hong Kong wants to be Asia’s crypto king
Hong Kong takes on Singapore for Asia’s crypto crown / FT (paywall)
“Hong Kong has kicked off a contest to become Asia’s crypto capital as investors and executives warn that rival Singapore may be squandering its head start with its pivot to stricter regulation.”

COVID zero keeps out foreign workers in Hong Kong
Hong Kong foreign worker arrivals plummet as COVID rules drag on / Bloomberg (paywall)
“The number of visas granted to overseas workers in Hong Kong fell by about two-thirds during the COVID-19 pandemic, as stringent travel curbs severed the finance hub’s connection with the rest of the world.”

Sustainability is the next big trend for Chinese consumers
Global brands pitch sustainable solutions to Chinese consumers / Sixth Tone
“Several global brands said they were committed to their sustainability goals, as they showcased their green initiatives at the ongoing China International Import Expo in Shanghai.”

Zotye denies rumors it will import foreign-made EV battery supply chain
Chinese carmaker Zotye denies a battery rumor that saw shares skyrocket / Caixin (paywall)
“Speculation the company would import a foreign-made production line to challenge CATL prompted questions from the bourse.”

SCIENCE, HEALTH, AND ENVIRONMENT:

A promising drug to treat depression
Fast-acting treatment for depression shows promise in mice, Chinese study finds / SCMP (paywall)
“Chinese researchers say a fast-acting drug for depression — based on a new approach to treating the mental disorder — has shown promise in a recent study.”

Bringing wild animals back to Hong Kong’s woodlands
Rewilding Hong Kong: How reintroducing species could help heal our forests and fight climate change / HKFP
Michael Boyle and Coşkun Güçlü, members from Biodiversity & Environmental Change Lab at the University of Hong Kong, write: “While Hong Kong’s woodlands have bounced back from mass deforestation, animals have not. This raises the question; should we actively relocate animals from forests in mainland China to rewild the woodlands of Hong Kong?”

POLITICS AND FOREIGN AFFAIRS:

China censors an EU official’s criticism of Russia’s war on Ukraine
Exclusive: China canceled EU leader’s video address at opening of major trade expo / Reuters
“Chinese authorities behind a major trade expo in Shanghai pulled an opening ceremony address by the European Council president that was set to criticize Russia’s ‘illegal war’ in Ukraine and call for reduced EU trade dependency on China, diplomats said.”

Will Xi actually visit Saudi Arabia?
China says unaware of reports about Xi’s Saudi Arabia visit / Reuters
“A spokesman for China’s foreign ministry said he was not aware of reports of President [Xí Jìnpíng’s 习近平] planned visit to Saudi Arabia, when asked about it at a regular news briefing on Tuesday.”
China’s Xi Jinping plans visit to Saudi Arabia amid global reshuffling / WSJ (paywall)

Wang Yi urges Australia counterpart to “rebuild trust”
China tells Australia both sides should address each others’ legitimate concerns / Reuters
“Chinese foreign minister Wáng Yì 王毅 told his Australian counterpart Penny Wong both China and Australia should gradually address each others’ legitimate concerns and make positive contributions to address current global challenges during a call on Tuesday.”

Peng Shuai question leaves WTA wary on China
WTA chief talks money, China and why tennis needs more female coaches / NYT (paywall) “Even without China’s ‘zero-COVID’ policy, Steve Simon said that unresolved concerns about Péng Shuài 彭帅 would keep women’s tennis away from Shenzhen and a lucrative 10-year-deal to stage the Finals.”

China’s big air muscles
Air show seeks to position China as global competitor / AP
“China is displaying its latest generation fighter jets and civilian aircraft this week as it looks to carve a larger role for itself in the global arms trade and compete with Boeing and Airbus.”
China’s biggest air show opens under cloud of zero-COVID policy / Reuters

Will China restructure El Salvador’s debt?
El Salvador says China ‘offered to buy’ its external bond debt / Bloomberg (paywall)
“El Salvador received an offer from China to help the Central American nation refinance its deeply distressed pile of foreign debt, according to President Nayib Bukele’s second-in-command.”

Another official gets probed under new Party leadership
Inner Mongolia chief justice arrested for graft / Caixin (paywall)
“Hu Yifeng, former president of the autonomous region’s high court, is accused of taking bribes, abusing his position and breaching regulations on the selection and appointment of officials.”

Beijing doubles down on Taiwan talk, as more PLA warplanes encroach on Taiwan airspace
China warns Taiwan of opposition after Lithuania chip plan / Reuters
Chinese warplane incursions near Taiwan rise to three-month high / Bloomberg (paywall)

SOCIETY AND CULTURE:

China-sized hole at the World Cup
China, a country of 1.4 billion, again misses World Cup / AP
“China is missing out on the World Cup again despite spending millions — probably billions — to develop the game, a reported priority of [Xí Jìnpíng 习近平], the all-powerful general secretary of the Chinese Communist Party.”

Peking University ranks supreme in Asia
Peking University tops ranking for Asia as Hong Kong contenders all drop / SCMP (paywall)
“Prestigious academic institution in Beijing beats National University of Singapore to claim first place among Asia’s varsities.”

Regulations for hormone drug sales raise concern in China’s transgender community
China’s plan to ban online sale of hormone drugs worries trans women / Sixth Tone
“China plans on restricting the online sale of the two most used drugs by transgender women for hormone replacement therapy, raising concerns over accessibility and price hikes for many who aren’t able to purchase them through a medical prescription.”