China News - 23 November 2022
International
China Covid: Angry protests at giant iPhone factory. Protests have erupted at the world's biggest iPhone factory in the Chinese city of Zhengzhou, according to footage circulated widely online. Videos show hundreds of workers marching, with some confronted by people in hazmat suits and riot police, after a surge in Covid cases saw the company lock down the campus last month. Rising Covid cases have forced officials across the country to backpedal from some of the tamer zero-Covid policies pushed by Beijing less than two weeks ago. BBC, 23 November
EU will not follow US’ China policy, top diplomat says in fiery debate with lawmakers. EU foreign affairs chief Josep Borrell distanced the bloc from the US’ broad push to ban the export of high-end chips, which is seen as an attempt to cripple China’s hi-tech sector and has caused consternation among the EU’s own semiconductor makers. Borrell engaged in a fiery back and forth with lawmakers led by Reinhard Buetikofer, the head of the European Parliament’s China delegation.
Dutch resist US call to ban more chip equipment sales to China. Bloomberg, 22 November
We are diversifying, Scholz says as German business warns against hurting China ties. His comments came after representatives of German industry reacted critically to a leaked draft of Berlin's new China strategy and called for more political support in diversifying trade and securing key raw materials from elsewhere. Reuters, 22 November
China reportedly paid Taiwan officer to surrender if war started. Taiwan is investigating an infantry officer on suspicion he took monthly payments from China for years to gather intelligence and surrender if a war ever broke out, saying the case highlights the “serious threat” posed by Beijing’s espionage. Meanwhile, Foreign Minister Joseph Wu said on Wednesday that Taiwan is seeing less Chinese interference ahead of its local elections. Bloomberg, 22 November
Chinese firm defends CCTV scrapped over security fears. Hikvision has denied that it poses a threat to national security as Scottish public bodies and businesses begin stripping its components from their surveillance cameras. The Times, 23 November
China holds talks on policing with Pacific island officials. The Guardian, 23 November
Formula 1: Chinese GP to be cancelled because of the country's Covid policies. BBC, 22 November
Economy & tech
China set to fine Ant Group over $1 billion, signalling revamp nears end. Chinese authorities are poised to impose a fine of more than $1 billion on Jack Ma's Ant Group, said six Reuters sources with direct knowledge of the matter, setting the stage for ending the fintech company's two-year long regulatory overhaul. Reuters, 22 November
Chinese regulators warn IPOs of zero-Covid winners subject to tight checks. FT, 22 November
China proposes tougher restrictions on unfair digital competition. The State Administration of Market Regulation (SAMR) is revising a law to make illegal certain practices by large internet platforms such as Alibaba, Tencent and JD.com. The move is another regulatory response to big tech companies’ use of market dominance and advanced technology to undermine competition. Caixin, 23 November
The silencing of Hong Kong’s analysts. As China tightens its grip on Hong Kong, fear is stemming the free flow of information and driving discussion of once-routine business and economic topics underground. Bloomberg, 23 November
Credit Suisse lays off one-third of China-based investment bankers. Reuters, 22 November
Long reads & opinion
The 20th Party Congress: What it means for the CCP and the world. Charles Parton. Council on Geostrategy, 22 November
Why China will play a bigger role in developing ASEAN’s digital economy. Chinese firms are attracted to the huge, rapidly growing regional market and are a good fit for its social needs. Zhai Kun and Liu Song. SCMP, 23 November
Central bank report on the credit information system since 2017. Pekingnology, 23 November
How Beijing approaches crisis management. CSIS Interpret, 22 November