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Macro

October 15, 2021

Li’s got the power

Beijing will keep the lights on. That was the reassuring message from Premier Li Keqiang on Thursday as he toured Guangdong province, visiting key manufacturers and a major trade fair. Some context: Guangdong is a major manufacturing hub, and one of the 20-some provinces and regions that have expe… Username Password Remember Me … Read More »

Beijing will keep the lights on.

That was the reassuring message from Premier Li Keqiang on Thursday as he toured Guangdong province, visiting key manufacturers and a major trade fair.

Some context: Guangdong is a major manufacturing hub, and one of the 20-some provinces and regions that have expe...

sources

Bloomberg: China Premier Vows to Ensure Power Supply for Manufacturers

October 15, 2021

Le Yucheng tells DC to learn a lesson

On Tuesday, vice foreign minister Le Yucheng dished his thoughts on US-China relations in a wide-ranging interview with state broadcaster CGTN. Speaking on the US withdrawal from Afghanistan, Le said (CGTN): “Despite its repeated mistakes in Afghanistan, Iraq and Syria, the United States seems to h…

“Despite its repeated mistakes in Afghanistan, Iraq and Syria, the United States seems to h...

sources

Bloomberg: China Reports Progress on U.S. Disputes Before Biden-Xi Summit

CGTN: Chinese Vice FM Le Yucheng's Exclusive Interview with Liu Xin

October 15, 2021

And the award for world’s best democracy goes to…

On Wednesday and Thursday, a party conference in Beijing hailed and highlighted China’s “whole-process people’s democracy.” Xi Jinping praised the people’s congress system as a beacon of democracy (Xinhua): “The people’s congress system insists that all power in the country belongs to the people.”…

On Wednesday and Thursday, a party conference in Beijing hailed and highlighted China's "whole-process people's democracy."
Xi Jinping praised the people’s congress system as a beacon of democracy (Xinhua):

“The people’s congress system insists that all power in the country belongs to the people.”...

sources

Xinhua: 习近平在中央人大工作会议上发表重要讲话

October 15, 2021

Sustainable Transport

Yesterday, Xi Jinping attended the Second UN Global Sustainable Transport Conference. What he said: China will build a center to share its expertise on green transport and smart logistics with the international community. Between the lines: One of Xi’s key messages was that logistics technology co…

Yesterday, Xi Jinping attended the Second UN Global Sustainable Transport Conference.
What he said: China will build a center to share its expertise on green transport and smart logistics with the international community.
Between the lines: One of Xi’s key messages was that logistics technology co...

sources

CAC: 习近平在第二届联合国全球可持续交通大会开幕式上的主旨讲话（全文）

October 15, 2021

MIIT’s game of name and shame

On Sept 23, we told you that MIIT had named and shamed 333 apps for misuse of user information, and gave them until September 29 to rectify the problem. There were a couple of big violators on the list: Most notably, a beverage ordering platform by mega-popular milk tea chain HEYTEA. Today, the ap…

On Sept 23, we told you that MIIT had named and shamed 333 apps for misuse of user information, and gave them until September 29 to rectify the problem.
There were a couple of big violators on the list: Most notably, a beverage ordering platform by mega-popular milk tea chain HEYTEA.
Today, the ap...

sources

MIIT: 关于下架侵害用户权益APP名单的通报

October 15, 2021

Shanghai to whitelist data exports

Today, Shanghai released the draft version of their municipal data regulations. It is the second city to do so after Shenzhen, which passed local data regs back in July. The biggest deal: It contains the nation’s first calls to explore the development of a cross-border data transfer catalog…

Today, Shanghai released the draft version of their municipal data regulations.

It is the second city to do so after Shenzhen, which passed local data regs back in July.

The biggest deal: It contains the nation’s first calls to explore the development of a cross-border data transfer catalog...

sources

21st Century Biz: 《上海市数据条例（草案）》解读一丨全国首提制定低风险跨境流动数据目录

October 15, 2021

Tencent Sogou M&A watch

We’ve been following the Tencent-Sogou acquisition for the last few months. Today, that story closes with the finalization of the internal handover — Sogou is now part of the Tencent ecosystem. The interesting detail: Sogou CEO Wang Xiaochuan left the company. His parting letter is the biggest new…

We’ve been following the Tencent-Sogou acquisition for the last few months.
Today, that story closes with the finalization of the internal handover — Sogou is now part of the Tencent ecosystem.
The interesting detail: Sogou CEO Wang Xiaochuan left the company. His parting letter is the biggest new...

sources

Sina: 王小川挥别搜索腾讯拆解搜狗完成整合

October 15, 2021

Quick Take | LinkedOut

Yesterday, Microsoft-backed LinkedIn announced that it would be shuttering its localized China social networking platform. The company will re-launch in China later this year as InJobs, an HR platform with no social sharing functions. Why: The company cited lack of success in its socia…

Yesterday, Microsoft-backed LinkedIn announced that it would be shuttering its localized China social networking platform.

The company will re-launch in China later this year as InJobs, an HR platform with no social sharing functions.

Why: The company cited lack of success in its socia...

sources

LinkedIn: China: Sunset of Localized Version of LinkedIn and Launch of New InJobs App Later This Year

October 15, 2021

A bit more dough for wheat

On Thursday, the National Development and Reform Commission raised the floor price for wheat in 2022. How it works: This state-set minimum purchase price guarantees to wheat farmers that local grain reserves will purchase their harvest – provided it meets minimum quality standards – if market prices…

On Thursday, the National Development and Reform Commission raised the floor price for wheat in 2022.
How it works: This state-set minimum purchase price guarantees to wheat farmers that local grain reserves will purchase their harvest – provided it meets minimum quality standards – if market prices...

sources

Reuters: UPDATE 1-China raises 2022 minimum purchase price for wheat to 2,300 yuan/T

October 15, 2021

Centering exercises

Xi Jinping isn’t doing meditative yoga. It’s his messaging. On Thursday, he kicked off the three-day United Nations Global Sustainable Transport Conference with a video keynote. Xi made the case for strengthening global connectivity (SCMP): “China will continue to push for high quality d…

Xi Jinping isn't doing meditative yoga. It's his messaging.
On Thursday, he kicked off the three-day United Nations Global Sustainable Transport Conference with a video keynote.
Xi made the case for strengthening global connectivity (SCMP):

“China will continue to push for high quality d...

sources

SCMP: Xi Jinping says China will continue to build links to outside world

Xinhua: 习近平出席第二届联合国全球可持续交通大会开幕式并发表主旨讲话

October 15, 2021

Seller beware

Add local governments to the list of entities waiting to get paid by China Evergrande Group. On Thursday, Reuters reported that Changchun city in Jilin province is still waiting for Evergrande to cough up RMB 180 million for a plot of land the developer purchased at auction in mid-June. The bills ar…

Add local governments to the list of entities waiting to get paid by China Evergrande Group.
On Thursday, Reuters reported that Changchun city in Jilin province is still waiting for Evergrande to cough up RMB 180 million for a plot of land the developer purchased at auction in mid-June.
The bills ar...

sources

Reuters: China's property sector stalked by Evergrande default fears

October 15, 2021

State media calls out NASDAQ-listed online brokers

On Thursday, top Party media People’s Daily flagged the risk that cross-border online brokerage firms UP Fintech and FUTU might run afoul of China’s Personal Information Protection Law (PIPL). Some context: PIPL, which takes effect November 1, requires that the personal information of Chinese users …

On Thursday, top Party media People’s Daily flagged the risk that cross-border online brokerage firms UP Fintech and FUTU might run afoul of China’s Personal Information Protection Law (PIPL).
Some context: PIPL, which takes effect November 1, requires that the personal information of Chinese users ...

sources

People's Daily: 财经观察：个人信息保护法施行在即，跨境互联网券商何去何从？

Reuters: Chinese online brokers Futu and UP Fintech face regulatory risks, People's Daily website says

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