China Newsbase
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The China News Database was last updated at 01:50PM on November 9, 2023.
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4,639 articles matching the search query.
Companies in Shanghai Take First Steps to Trade Data Like Stocks
A report in Sixth Tone dives into the Shanghai Data Exchange, where data is traded “like stocks.” The exchange opened on November 25, with tech majors like JD.com and Alibaba-owned AutoNavi among the companies participating.
Hon Hai mulls Saudi EV venture - Taipei Times
Foxconn is looking at building EVs with Saudi Arabia, playing the minority shareholder in a joint venture that would advance the Kingdom’s longtime ambition to develop its own vehicles.
赛力斯推出全新高端智慧汽车品牌AITO，首款产品本月底亮相_华为_智能_平台
Seres is the latest Chinese EV startup to join the crowded market. Today it showed off its new AITO models developed with Huawei.
China's Kaisa seeks relief from bond holders as default looms
Chinese developer Kaisa Group Holdings is seeking relief from bondholders as default looms on a $400 million bond due next week, piling more pressure on other indebted property giants.
Selection 2022 - MacroPolo
“Turnover in the CCP Central Committee could reach 60% or even higher” in the power transition that will happen in 2022, according to think tank Macro Polo, which has a guide to the names that will matter.
US government agencies bought Chinese surveillance tech despite federal ban
At least three U.S. government agencies accidentally bought banned Chinese surveillance equipment two years after the relevant companies were put on a blacklist due to security concerns and ties to Xinjiang.
蒙牛“灵魂人物”退任-虎嗅网
The charismatic founder of one of China’s biggest dairy companies has stepped down from its board (in Chinese). Niú Gēnshēng 牛根生 is retiring from Mengniu Dairy to spend more time on philanthropy. It’s a popular move these days for China’s business leaders, young and old.
China to Ban Variable Interest Entities Used by Tech Firms for Foreign IPOs
Another VIE crackdown report, another denial: After Bloomberg reported that China is “planning to ban companies from going public on foreign stock markets through variable interest entities,” the China Securities Regulatory Commission issued a swift denial (in Chinese). Caixin reports that Chinese regulators still intend to “support companies in choosing their listing locations,” but the rules might apply “differently based on their industrial sectors.” More context on SupChina in July: Did China take another step to financial decoupling with new VIE rules?
China’s mRNA Vaccine Developer Abogen Raises $3 Million
A leading homegrown mRNA vaccine maker, Suzhou Abogen Biosciences, has “raised $3 million following a $7.2 million C round of financing in August,” Caixin reports. The funds will be used partly “to accelerate clinical development of its potential COVID-19 vaccine,” which has not been approved by regulators but is one of several mRNA shots that may eventually be rolled out in China.
苹果在2021年10月成为中国最大的智能手机品牌
Apple reclaimed the title of largest smartphone brand in China for the first time since 2015, thanks to the iPhone 13’s overwhelming popularity. Its sales grew 46% month-on-month, faster than any domestic competitors.
China sets rules to safeguard drivers' rights in ride-hailing industry
China issued rules to safeguard drivers’ rights in the ride-hailing industry, requiring firms to provide drivers with social insurance. The move continues Beijing’s campaign to protect workers’ rights across major tech companies.
China factory activity picks up as energy crunch stabilises
Factories have recovered from the energy crunch: After an October that saw some of the weakest factory activity since the beginning of the pandemic, Chinese manufacturing activity “increased slightly in November, as power supply shortages eased and commodity prices stabilized to help boost output after two consecutive months of contraction,” the Financial Times reports. The property crisis, a third headwind other than the energy shortages and high commodity prices, also eased as regulators took to “loosening credit controls and allowing more bond issuance in the past two months.”
Olympics Official Pound Defends Peng Shuai Call After Criticisms of IOC
Dick Pound thinks concern about Péng Shuài 彭帅 is “silly”: The longtime International Olympic Committee (IOC) member defended the organization’s video chat with the tennis star, saying that it proved Peng was “alive and healthy and not in captivity,” per Bloomberg. While the IOC statement after that chat made no mention of Peng’s accusation of sexual assault — the reason she was censored and concern was raised about her safety in the first place — Pound said that the IOC would have an “ongoing dialog about the revelations that she published and that were taken down.” But the cozy relationship between the IOC and Beijing has only come under closer scrutiny since that video call, the New York Times reports.
EXCLUSIVE Chinese province targets journalists, foreign students with planned new surveillance system
“Custom security technology to streamline state suppression of journalists”: That’s how the head of U.S.-based surveillance research firm IPVM described a Henan Province procurement document that “is unique in specifying journalists as surveillance targets and providing a blueprint for public security authorities to quickly locate them and obstruct their work,” Reuters reports. Jeremy Daum of China Law Translate commented that it isn’t exactly news that China tracks and obstructs journalists, but it was new to him to see this specified in a public document.
徐旭東投書／跨越選舉思維框架，尋求產業發展的大格局 | 聯合新聞網：最懂你的新聞網站
“I have always opposed Taiwan independence,” Far Eastern Group (FEG) Chairman Douglas Hsu (徐旭東 Xú Xùdōng) wrote today in United Daily News, pushing back on Beijing’s targeting of his company for ties to the less-China-friendly Democratic Progressive Party (DPP) in Taiwan. Hsu also defended FEG’s investments in the mainland, and said it was unhelpful when “certain public opinions” in Taiwan try to put a “sense of guilt” on companies with cross-Strait ties. According to Reuters, an updated total of the fines levied on FEG by Chinese authorities is 474 million yuan ($74.4 million).
Leaked papers link Xinjiang crackdown with China leadership
More excerpts from the Xinjiang Papers have been published. Two years ago, the New York Times published a story based on one of the most significant leaks of Chinese government documents in decades, which, among other revelations, showed Xí Jìnpíng 习近平 in 2014 demanding that comrades “show absolutely no mercy” in dealing with Xinjiang residents infected with “extremist religious thought.” The NYT only published small excerpts of the reported 400 pages of source material, which China did not deny the authenticity of but accused the newspaper of “taking out of context and hyping.”
Now, 300 pages of the Xinjiang Papers from 11 documents have been published at Uyghurtribunal.com. German academic Adrian Zenz wrote an introduction to the papers that was peer reviewed by Georgetown University scholar James Millward and University of Sheffield lecturer David Tobin. Zenz says an analysis of the full document cache, which almost certainly matches the original leak to the NYT, “shows that the linkages between statements and mandates made by Xi and other central government figures and policies that were implemented after 2016 are far more extensive, detailed and significant than previously understood.”
Macau Casino Stocks’ High-Rolling Days Are Over
“Macau casino stocks’ high-rolling days are over,” the Wall Street Journal says, after the announcement yesterday of the detention of Suncity chair Alvin Chau [週焯華 Zhōu Chāohuá]. Chau has been accused of “running a cross-boundary gambling syndicate to illegally recruit Chinese residents to gamble outside of mainland China,” and investors “are worried China could step up scrutiny of capital outflows to Macau more broadly, or to other places, by cracking down on companies that deliver high rollers to gambling venues.” The South China Morning Post reports that “Chinese prosecutors have indicated they are targeting online casinos” next.
Elite Chinese school offers country’s first quantum tech PhD programme
A university in Hefei has started a PhD program in quantum technology as the global race for leadership in the field intensifies.
China Growth Stocks Look Like Havens as Markets Confront Omicron
Chinese investors are finding domestic stocks more attractive as the world deals with Omicron while China’s COVID-zero policy stands firm. The ChiNext Index is benefitting, though Chinese and Taiwanese aviation stocks have fallen since the variant emerged.
