“The road we have taken”; Carrie Lam PR efforts; US-China; ARM still licensing to Huawei
|Sep 26, 2019||8|
China right now is all about the 10.1 celebration, so today’s newsletter may be a bit boring.
The mainland may be on lockdown but Hong Kong is not. Carrie Lam is on a PR offensive, with a New York Times OpEd and a town hall meeting, but her efforts are unlikely to sway the Hong Kong protestors, or prevent more demonstrations this weekend and on October 1.
As noted earlier this week I intend to publish next Monday and Tuesday but there may not be enough going on Wednesday and Thursday to justify a newsletter, given the whole country, and a lot of you readers, will be on vacation.
Thanks for reading.
The Essential Eight
1. “The road we have taken”
人间正道是沧桑, Friday's second in series of three People's Daily signed articles from "宣言 manifesto/declaration" celebrating China and the CCP’s achievements on the eve of the 70th anniversary, also takes its title from a Mao poem. The forthcoming article was summarized on the Thursday CCTV Evening News broadcast: - [视频]人民日报将刊发“宣言”系列署名文章——人间正道是沧桑_CCTV
[lightly edited via Youdao translation] General Secretary Xi Jinping pointed out that the final victory of a social revolution often requires a long historical process, and must adhere to and develop socialism with Chinese characteristics,' the article said. After 70 years of struggle, this path of human justice has become more dazzling in the sky of history and more determined in the vicissitudes of the world.
The article points out that contemporary China is becoming the "rich, prosperous and happy China" that Dr. Sun Yat-sen hoped for, the "youthful China" that Li Dazhao yearned for, and the "beloved China" that Fang Zhimin yearned for. We are closer to the great goal of national rejuvenation than at any time in history. The path of socialism with Chinese characteristics is the right path on earth that has been tested by practice and the only way to realize the great rejuvenation of the Chinese nation.
The article reveals the most important elements of China's road: the leadership of the communist party of China, the persistence and development of socialism, and the inheritance and promotion of Chinese civilization…
Here is the original poem by Mao - The People's Liberation Army Captures Nanking
Over Chungshan swept a storm, headlong,
Our mighty army, a million strong, has crossed the Great River.
The City, a tiger crouching, a dragon curling, outshines its ancient glories;
In heroic triumph heaven and earth have been overturned.
With power and to spare we must pursue the tottering foe
And not ape Hsiang Yu the conqueror seeking idle fame.
Were Nature sentient, she too would pass from youth to age,
But Man's world is mutable, seas become mulberry fields.
And here is a useful contextualizing of the poem in the horrors of the Cultural Revolution - Rhetoric of the Chinese Cultural Revolution: The Impact on Chinese Thought, Culture, and Communication-Xing Lu, page 80:
"Mao's poetry most often also appeared on wall posters. The poem most often cited was "With power to spare we must pursue the tottering foe. Do not copy Xiang Yu[who did not kill all the enemies and finally was killed by them], and do not seek idle fame." Mao wrote the poem in 1949 when the People's Liberation Army (PLA) occupied Nanjing, the headquarters of the Nationalists who were defeated by Mao's army. The poem called on the PLA to crush the Nationalist government completely and without mercy. It was appropriated in reference to the struggle against class enemies during the Cultural Revolution...It was often followed by cultish expressions of unqualified devotion to Mao"
But there was also a popular TV series with the name The Road We Have Taken - Wikipedia:
The Road We Have Taken (simplified Chinese:人间正道是沧桑 ; traditional Chinese: 人間正道是滄桑), also known in short by its fans as simply "The Road" (正道) or "to go through all the vicissitudes" (滄桑), is a highly popular 2009 Chinese TV series produced by Jiangsu Broadcast Media Group . The series is directed by Zhang Li, and is based on the award-winning novel of the same name by Jiang Qitao (江奇涛)...
The series is about from 1925 to 1949, focuses on three children of a big family in Liling（醴陵）county，Hunan province（湖南） and their search for a political path in the chaos of 20th century China. Their life is set against a number of significant historic events, such as First United Front，Second United Front，the War of Second Sino-Japanese War (1937–45), Chinese Civil War and the foundation of the People's Republic of China.
Comment: Mao is never far away…
And here is the first in the series of the signed articles-"Idle boast the strong pass is a wall of iron", the title taken from the Mao Zedong Ci "Loushan pass 忆秦娥·娄山关"-雄关漫道真如铁--时政--人民网:
The remarks by Jim Carroll, the Director of National Drug Control Policy, reflect a shift in tone after U.S. President Donald Trump accused Chinese President Xi Jinping in August of not living up to his pledges to crack down on the drug...
“I am absolutely convinced the Chinese, starting with President Xi down through the Minister of Public Security Zhao (Kezhi), are absolutely committed to doing this,” Carroll, who oversees the U.S. government’s response to the opioid crisis, told reporters in Beijing after meeting his Chinese counterparts.
Chinese buyers have “completed deals to buy soybeans and pork of considerable scale,” said a ministry spokesman, Gao Feng. He gave no details.
The Ministry of Commerce (MOFCOM) on Thursday stated that another 10,000 tons of pork from its central reserves will be released to ensure meat supply for the upcoming National Day holiday.
Last Thursday, 10,000 tons of pork had been released by MOFCOM in a joint effort with the National Development and Reform Commission (NDRC) and the Ministry of Finance (MOF) for the upcoming National Day holiday.
China was a savior of sorts for the industry after the financial crisis last decade. Customers there kept buying oak and ash boards in large quantities, while construction and furniture production fell in the U.S.
Now, after Beijing placed retaliatory tariffs of up to 25% on imports of lumber and other U.S. wood products, exports of hardwood lumber to China have fallen 40% this year.
We drew on several different academic disciplines to help us model how an economic conflict between the United States and China could escalate and eventually de-escalate. Despite the challenges inherent in modelling economic conflict, our model was validated to a surprising extent by both our simulations and real-world developments. The project produced several findings that were both unexpected and relevant to policy, including that economic conflict is likely to be an enduring feature of the U.S.-China relationship for many years to come. Until perceptions of relative costs in the two countries shift, Washington and Beijing seem set on a path of continued escalation, no substantial trade deal, and at least partial decoupling of their economies. Reflecting on these findings, the report also provides recommendations for U.S. policymakers seeking to engage in successful economic bargaining with China.
3. Hong Kong
Inside a stadium ringed by hundreds of chanting protesters, Mrs. Lam, the Hong Kong chief executive, acknowledged the widespread anger after 16 weeks of protests that have presented the government with its biggest political challenge in decades.
“In recent days, the people have lost trust in the police and the government. This is hard to fathom but it is a reality,” she said. “In a time when trust is lacking, we need to have a dialogue with one another.”
On Wednesday, a top-level diplomat from Beijing said it was up to Hong Kong's local government to decide how to deal with the protests.
But he also dismissed the demands made by the movement.
"Response does not mean concession," Song Ru'an, a deputy commissioner at the foreign ministry's office in the city, said at a rare, three-hour briefing with foreign reporters.
"It will be blatant political blackmail and coercion if anyone believes only acceptance of each and every demand of the opposition counts as response," he added.
In an apparent move to fan flames of disorder in Hong Kong, two U.S. congressional committees on Wednesday voted to advance the deeply flawed Hong Kong Human Rights and Democracy Act, citing groundless accusations about the "loss of freedom" and "human rights" issue in Hong Kong.
By smearing China to score cheap political gains as usual, these politicians are turning a blind eye to the undeniable facts that China has in the past 22 years unswervingly upheld its commitments to the Basic Law with an effective implementation of the "one country, two systems" principle and a high degree of autonomy in Hong Kong.
China on Thursday deplored and strongly opposed the passing of the so-called Hong Kong Human Rights and Democracy Act of 2019 by U.S. congressional committees, urging the United States to stop interference in Hong Kong affairs.
The Act confuses right and wrong in total disregard of the facts, brazenly bolsters up violent radicals in Hong Kong and grossly interferes in China's internal affairs, Foreign Ministry spokesperson Geng Shuang said in a statement released Thursday morning.
Hong Kong, used to be a popular travel destination, does not show up on any top destination lists for the holiday this year as compiled by major travel agencies including CYTS Tours, Ctrip, Mafengwo and Lvmama.
In contrast to Hong Kong's bleak outlook, the booking data shows that Chinese mainland travelers' enthusiasm is continuing to grow overall. It's forecast that mainland travelers will make more than 800 million trips during the holiday, up from 726 million a year earlier, according to Ctrip.
Chinese group tours for the Golden Week are set to plunge 86% compared to the same period last year, according to the city’s Travel Industry Council. Flight prices from Shanghai to Hong Kong are 38% cheaper than last year’s fares and only 30% of hotel rooms are booked for the holiday period.
In a new series delving beyond the social unrest in Hong Kong to survey the city’s deep-rooted problems, the Post is focusing on the role of housing in causing great disaffection in society
In this second instalment, we examine the close ties between the city’s property tycoons and Beijing, and how a recalibration might be due
Topic | Hong Kong protests
In August, Blizzard launched WoW Classic, a revamped version of its 15-year-old original multi-player hit. It’s become a resounding success, feeding into the nostalgic yearnings of fans, including in Greater China.
The game’s Taiwan server has become an unlikely virtual space where young people from mainland China, the self-governing island of Taiwan as well as Hong Kong can talk politics together -- free from the interference of censors and other state actors.
Four incidents have been reported in the past week, with mainland Chinese students allegedly attacking Hongkongers and locals over Lennon Walls
President Tsai Ing-wen condemns the violence, saying the island is democratic and ‘not a base for totalitarian power’
Lawmaker Roy Kwong from the Democratic Party was repeatedly punched and kicked by three assailants during an assault on Tuesday morning, according to footage from a dashcam.
A lawyer working for BNP Paribas in Hong Kong has left the French bank after he posted comments on social media in support of protests in the city, provoking a furious response from Beijing.
Jason Ng, who was in charge of legal affairs in the bank’s debt capital markets division in Hong Kong, left BNP Paribas earlier this month, according to two people familiar with the matter.
I believe that the rule of law, upheld by an independent judiciary, is a bedrock of Hong Kong life; it can never be compromised. But precisely because the rule of law is a bedrock principle, violent protests and wanton vandalism must stop. This is one reason that this administration cannot accede to some protesters’ demand that all charges be dropped against those who have been arrested. Doing so would run counter to the rule of law. It would also contravene the Basic Law, which states that prosecutions must be taken forward, free from interference, by the Department of Justice.
Freedom of the press and freedom of information have also come into focus lately, partly because of the tsunami of media coverage about the protests, as well as other social, economic and political issues to do with Hong Kong. The city is a free and open economy and a global financial center, and the government understands that unfettered access to information is a prerequisite for the integrity and viability of its market — even though the media do not always paint Hong Kong in a positive or even impartial light.
4. China and the United Nations
The document, titled "China and the United Nations," was released for the 74th Session of the United Nations General Assembly...
"In short, China will stay a promoter of world peace, contributor to global development and upholder of the international order," said the position paper.
China, which firmly supports and pursues multilateralism, stands for the international system built around the UN, the international order underpinned by international law, and the multilateral trading system centered on the World Trade Organization, and is firmly against unilateralism, protectionism and acts of bullying, it said...
The vision of a community with a shared future for humanity, in keeping with the trend of history and the call of the times, reflects the common values of humanity and represents the greatest shared aspiration of people around the world for a better life...
China plays an essential role in addressing climate change, promoting high-quality Belt and Road cooperation, and promoting social and people-to-people exchanges and cooperation.
"China always attaches great importance to human rights and integrates the universal principles of human rights with its specific conditions," the position paper said, noting that China has put forward the proposition that the rights to survival and development are the primary, basic human rights.
5. ARM still licensing to Huawei
Huawei and its chip design unit HiSilicon Technologies Co. Ltd. have remained long-term ARM partners, Rene Haas, the president of ARM’s IP products group, said Wednesday at an event in Shenzhen. The British company, backed by Japan’s Softbank Group, will continue licensing its chip design architecture to Huawei and HiSilicon, Haas said...
After an assessment of ARM’s products and its partnership with Huawei, ARM concluded that the patents behind its major chip design architectures were based on technologies from the U.K. and thus will not be affected by the U.S. trade ban for business with Huawei and HiSilicon, Haas said...
At the same event Wednesday in Shenzhen, Liang Quan, marketing director of ARM China, said Huawei and ARM met to explore further cooperation on new products.
HiSilicon has taken part in ARM’s business development and will continue investing in the company, said Diao Yanqiu, chief information officer at HiSilicon. “ARM is our long-term partner,” Diao said.
Huawei Technologies Co Ltd’s founder and CEO Ren Zhengfei said on Thursday the company is already producing 5G base stations that are free of U.S. components and plans to more than double production next year...
Earlier this month, Ren said that he was open to selling the firm’s 5G technology - including patents, code, blueprints and production know-how - to Western firms for a one-off fee.
On Thursday he went further, saying Huawei was willing to license its 5G mobile technology to a U.S. company, and that he was not afraid of creating a rival by making Huawei’s technology available to competitors.
The army officer-turned-billionaire reiterated an offer Thursday to license out Huawei’s full portfolio of 5G wireless technology -- which would include chip designs, hardware and source code -- to a single, exclusive licensee. That should be a U.S. company because Europe is home to close competitors like Nokia Oyj and Ericsson AB and doesn’t need help to compete, he added...
Ren reaffirmed an earlier estimate that U.S. sanctions could depress the company’s sales by $10 billion annually. His lieutenants have lately echoed his 5G licensing proposal to reassure foreign customers Huawei’s gear is free of security loopholes.
6. Housing, land and wealth creation
Every year, the message is the same: the government will fix China’s left-behind countryside through a raft of reforms. This year was no different, with measures meant to help farmers move to cities, educate their children, and invest in improving their land.
But every year, the gap between village and city remains stubbornly wide. Many blame this on the fact that farmers are not allowed to own land, a policy that goes back to one of the founding decisions of the Communist revolution....
“Land ownership is one of these tough issues that they still haven’t addressed,” said Jean Oi, a professor at Stanford University in California who is the co-author of an upcoming book on China’s future challenges. “The question is when, or if, they’ll tackle it.” Given how the country’s founding myths have been constructed, the answer seems to be never.
I dug into Luigi Tomba’s 2014 book The Government Next Door: Neighborhood Politics in Urban China in hopes of getting closer to that. He seemed to immediately grasp the central role of housing in the transformation of urban Chinese from socialist functionaries to a prosperous bourgeoisie...
The key point here is that housing privatization replicated and amplified, rather than overturning, the pattern of inequality inherited from the planned economy. In that system, there was little inequality in wages or money income, but there was greater inequality in living standards, because housing and consumer goods were preferentially allocated to those with higher political status. The combination of SOE downsizing and housing privatization did remove some socialist foundations, particularly the ironclad guarantee of a job and housing for urban residents. But reform replaced them with something that would prove much more valuable over the longer term: privileged access to assets that were rapidly appreciating in value. So rather than weakening political support for the Chinese government, housing reform bolstered and broadened it.
7. Changing Chinese family structure
Over 2,500 years of family tradition in China is on an unavoidable collision course with 21st-century China’s new demographic realities. The demographic forces transforming the Chinese family are extraordinary and historically unprecedented.
Curiously, despite the small library of studies on population change in modern China, little has been written on what these changes in the Chinese family portend.
This cross-disciplinary volume is an exploratory foray into that intellectual terra incognita.
The chapters in this volume describe the demographic dimensions of the changes in family structure already underway and visible out to the horizon, as well as their implications for China’s people, economy, and role in the world.
The volume features works by authors Ashton M. Verdery; Zeng Yi and Wang Zhenglian; Wang Feng, Shen Ke and Cai Yong; David E. Scharff; and Jacqueline Deal and Michael Szonyi—leading scholars in their respective fields.
8. Canadian grassroots pushback
A B.C. mayor who dropped off doughnuts and photos of two Canadians detained in China at a Union of B.C. Municipalities reception held by the Chinese government said he did so to highlight the “immoral” event.
Port Coquitlam Mayor Brad West said he set the items at the entrance of the ballroom at UBCM’s annual convention so that those entering would have to step over them.
“I’ve seen a number of mayors and city councillors are in there; they seem to be enjoying themselves and enjoying the free food and free drinks,” Mr. West said outside the room. “Unfortunately, we have two of our fellow citizens who cannot enjoy anything, who haven’t spoken to their family, who haven’t had access to legal counsel, who are subject to God knows what.”
The student union at a Canadian university has revoked the club status of the school’s Chinese Students and Scholars Association (CSSA) after an appeal by students seeking to decertify the group over concerns about alleged links to the Chinese government.
Objection to the CSSA’s official status at McMaster University in Hamilton, Ontario, stemmed from a protest campaign it spearheaded in February in response to a talk given on campus by Rukiye Turdush, a Uygur activist.
Business, Economy and Trade
China to curb food price rises, keep factory prices stable - Reuters The government will ensure the overall price level to remain in a reasonable range this year, the State Council was quoted as saying after a regular meeting... The government will accelerate the recovery of pork production capacity, boost imports and tap state reserves, the cabinet said.
Yicai Global - China Bids Banks With Over Fourfold Provision Coverage Ratios to Serve Up Profits High coverage ratios mean China currently has at least 10 banks that must distribute profits, including Postal Savings Bank of China and China Merchants Bank, the 21st Century Business Herald reported today. Banks with a provision coverage ratio exceeding two times the regulatory requirements should be regarded as tending to conceal profits, the country's Ministry of Finance said on its website, and it is thus requiring these banks to distribute these profits.
Nearly Half of China’s Car Dealerships Lost Money in the First Six Months: Report - Caixin The study from Shanghai-based online auto services platform Lechebang, which surveyed 2,493 dealerships in 320 cities and comprised dozens of car brands, found that 44% made a loss during the period from January to June. Only 29% turned a profit, while 27% said they broke even.
Shanghai Free Trade Zone: Putting Reform Over Opening - MacroPolo Consequently, most of Beijing’s current policies, including in the SFTZ, don’t match the priorities of Western observers. Chinese economic reforms are primarily aimed, as they have always been, at making China’s hybrid system more competitive and successful.
China’s struggle to manage economic slowing pains | Financial Times Ultimately, the Chinese government’s stance may have to become more interventionist because of the risks associated with allowing growth to fall too quickly. Reform in key areas is not moving quickly enough to take up the slack, while the government faces the challenge that a gradual slide in growth could morph into something more dangerous.
Finance Ministry to Transfer $16 Billion in Equities to Pension-Shortfall Fund - Caixin The ministry will transfer 10% of its shares of Industrial and Commercial Bank of China Ltd. (ICBC) and Agricultural Bank of China Ltd. (ABC), two of the country’s largest state-owned banks by assets, to the National Council for Social Security Fund, the government body that manages the national social security fund, according to separate statements from each bank.
Chinese Rural Commercial Banks Still Mired in Bad Loan Crisis - Caixin China’s rural commercial banks have extended a large amount of loans in risky projects in recent years, but slower economic growth has made many such loans turn sour. The other rural commercial banks that were downgraded in July 2018 haven’t recorded improvements similar to that of the Guiyang bank. Some banks’ nonperforming loan ratios declined slightly, and other banks continued to deteriorate and have been further downgraded.
Politics and Law
CPC education campaign demands patriotism, struggle spirit - Xinhua A senior official of the Communist Party of China (CPC) on Thursday called for inspiring patriotic affection and the spirit of struggle in the Party's education campaign themed "staying true to our founding mission." Chen Xi, a member of the Political Bureau of the CPC Central Committee and deputy chief of the leading group of the campaign, urged the transformation of patriotic affection and spirit of struggle into a strong drive for the promotion of reform, development and stability to celebrate the 70th anniversary of the founding of the People's Republic of China. // The original - 陈希在第二批“不忘初心、牢记使命”主题教育推进会上强调 两手抓两促进激发爱国热情和奋斗精神 以优异成绩庆祝新中国成立70周年 It is worth noting that the Chinese term translated as "struggle" here is "fen4dou4 奋斗“ not "dou4zheng1斗争". fendou has positive connotations like "strive, work hard, dedicate oneself to". Douzheng not so much, and its usage by the CCP has a nasty history. Telling the masses to "strive, work hard, dedicate oneself to" is more aspirational here, in the service of the great rejuvenation, as opposed to douzheng, which Xi recently used with the younger cadres, which connotes much nastier "struggle".
Xi sends congratulatory letter on 60th anniversary of Daqing Oilfield discovery - Xinhua Xi said the outstanding contributions of the Daqing Oilfield have been engraved on the historical monument of the great motherland, and the spirits of Daqing and "iron man" have become important parts of the great national spirit of the Chinese nation. The spirit of "iron man" was born from Wang Jinxi, a model worker of the oilfield who devoted his life to the development of the petroleum industry.
State Council marks Daqing Oilfield’s 60th anniversary of discovery - Gov.cn In the letter, the State Council said the discovery and development of Daqing Oilfield was a turning point in China’s history of petroleum refining industry. Over 60 years, several generations of oil workers and geologists at Daqing Oilfield worked arduously, gained remarkable achievements and made great contributions to China’s energy security. The spirit of Daqing and "Iron Man" have become important parts of the great national spirit of China, continuing to inspire and encourage the Chinese people to advance bravely, said the letter.
China’s repression of Islam is spreading beyond Xinjiang - The Economist In July the leader of a central-government inspection team said that in some parts of Gansu “religious extremist forces” were already “dominating and corroding” grassroots political bodies. This was, she said, “a problem worth attention”. Extremist is a word that trips lightly off officials’ tongues. It is often used to describe behaviour that in many other countries would be regarded simply as devout. Muslims in the rest of China may not suffer the Uighurs’ terrible fate, but they have reason to be nervous.
'Afraid We Will Become The Next Xinjiang': China's Hui Muslims Face Crackdown : NPR Imams in Henan and Ningxia must now attend monthly training sessions that can last for days. There, imams told NPR, they are taught Communist ideology and state ethnic policy and discuss Xi Jinping's speeches. Imams must then pass an exam testing their ideological knowledge in order to renew their license each year, mirroring how the government issues licenses to imams in the Xinjiang region.
As China forges ecological future, Tibetans relinquish nomadic past - Reuters his biggest wish is for his children “to get a better education and acquire some culture” by assimilating further. Ironically, that is what some human rights groups are worried about, fearing permanent mass migration will end a unique way of life.
中共中央办公厅、国务院办公厅、中央军委办公厅印发《烈士纪念设施规划建设修缮管理维护总体工作方案》--时政--人民网 Central Committee General Office, State Council Office, Central Military Commission Office issue comprehensive work plan for planning, constructing, repairing, managing and maintaining Martyrs memorial facilities
China Central Television: A Long-standing Weapon in Beijing’s Arsenal of Repression – The Diplomat CCTV was founded 61 years ago, at a time when few Chinese citizens owned a television set. Today, it reaches nearly every household in China, runs over 40 channels, and produces more than 300,000 hours of programming a year. Alongside news, there are channels dedicated to sports, film, Chinese opera, and rural affairs. As the only authorized national broadcaster, the station retains a unique and privileged position in the domestic media market. Its flagship evening news program, Xinwen Lianbo, airs for 30 minutes at 7 p.m. Local and provincial stations are required to carry the program as well, ensuring a regular viewership in the hundreds of millions in addition to a large social media following.
Foreign and Defense Affairs
Use of social media to manipulate public opinion now a global problem, says new report — Oxford Internet Institute Foreign influence operations, primarily over Facebook and Twitter, have been attributed to cyber troop activities in seven countries: China, India, Iran, Pakistan, Russia, Saudi Arabia and Venezuela.China has now emerged as a major player in the global disinformation order, using social media platforms to target international audiences with disinformation.
Interesting 12/2018 Bruno Wu Foreign Agents Registration Acts filing "Vice Chairman and Secretary General of National Committee on China~US relations as an affiliate of the Charhar Institute"
七十年风雨兼程，新时代扬帆启航 - 纪念中俄建交七十周年 王 毅 Wang Yi in the Thursday People's Daily on the 70th anniversary of SIno-Russian relations
奔向未来的伙伴关系 - 奔向未来的伙伴关系 谢尔盖·拉夫罗夫 Russian Foreign Minister Lavrov in the Thursday People's Daily on the 70th anniversary of SIno-Russian relations
Hong Kong and Macao
Hong Kong Court of Appeals calls for immediate review of laws and policies that discriminate against same-sex relationships | South China Morning Post The Court of Appeal on Wednesday called for a “proper and effective” review of all laws and policies that discriminate against same-sex relationships in Hong Kong.
Henderson offers 1 million sq ft of Fanling farmland for public homes, saying it would yield to any seizure by Hong Kong’s government of private land | South China Morning Post Henderson Land Development, the third-biggest private landowner in Hong Kong, said it would yield to any government seizure of private land for public housing, a day after New World Development donated a fifth of its farmland reserves.
Tech and Media
Chinese Passenger Drone Maker EHang Is Said to File for U.S. IPO - Bloomberg EHang, one of China’s largest drone makers, has made a confidential application for an initial public offering with Nasdaq Inc., according to people with knowledge of the matter.
Short video platform Kuaishou widens its influencer crackdown · TechNode Kuaishou provided details on several types of content it considers “malicious hyping,” such as fabricated sob stories, videos that exaggerate the circumstances of disadvantaged groups, and videos that promote harmful views on marriage and families. Also targeted are clickbait videos, including those with panic-inducing or sexually suggestive titles and thumbnails. Short videos that use “bizarre” thumbnails will also be removed from the platform.
China’s ByteDance In Talks to Sell Its Overseas News App — The Information TopBuzz, launched in 2015, was part of ByteDance’s earlier efforts to replicate its hometown success in overseas markets. But TopBuzz and its related apps never became blockbusters like TikTok later did. TopBuzz News now ranks No. 35 among news apps on iOS in the U.S. based on downloads, while TopBuzz Video ranks No. 727 among entertainment apps on iOS, according to App Annie. A ByteDance investor, who declined to be named, said it would make sense for ByteDance to sell TopBuzz and put more resources into TikTok in the U.S.
Society, Arts, Sports, Culture and History
Shenzhen Mom Blackmails Teacher for Accepting Gifts - SixthTone According to a report Tuesday in Southern Metropolis Daily, the case came to light when a mom claimed that she and her child’s sixth-grade teacher at Shenzhen Second Foreign Languages School in Guangdong province had exchanged several gifts valued at 500 to 800 yuan ($70-$110). However, another parent surnamed Deng told the newspaper that the mom was using chat screenshots to blackmail the teacher and secure special treatment for her child.
Energy, Environment, Science and Health
China is betting big on the global CBD boom - Inkstone Comment: I have a friend in DC who has launched a CBD product line. Their hook is that the hemp is all organically grown in the US, so it is much safer, as, they say, so much of the hemp used in other CBD products comes from China and it is grown in soil polluted with heavy metals...