Links for Tuesday, June 30, 2020

Notable China news from around the web.

BUSINESS AND TECHNOLOGY:

The official manufacturing purchasing managers’ index rose to 50.9 from 50.6 a month earlier, according to data released Tuesday by the National Bureau of Statistics. The nonmanufacturing gauge rose to 54.4. Readings above 50 indicate improving conditions from the previous month…

The data confirm the trend of a gradual domestic recovery from the historic contraction in the first quarter and back up the government’s relatively modest stance on policy stimulus. But with the coronavirus hitting global demand and continued outbreaks of the virus not ruled out, the rebound may prove hard to sustain.

  • High-end COVID care in Thailand
    Thai hospital group targets wealthy in tie-up with Chinese insurer / Caixin (paywall)
    “Bangkok Dusit Medical Services, Thailand’s largest private hospital chain, has partnered with China’s leading Ping An Health Insurance in a move to provide wealthy Chinese clients with high-end care when the coronavirus pandemic ebbs sufficiently to allow air travel.”
  • Beijing releases imprisoned FedEx pilot
    China releases FedEx pilot after nine month long detention / Reuters
    “Chinese authorities have released a U.S. pilot for FedEx Corp (FDX.N) who was detained last year on suspicion of smuggling weapons and ammunition, the pilot’s lawyer said.”
  • New Yangtze dam starts churning
    China’s giant Wudongde hydro project begins power generation / Reuters
    “China’s massive Wudongde hydropower plant has begun generating power after a trial run, its owner announced, marking the launch of the latest in a series of costly and controversial giant dams on the upper reaches of the Yangtze river.”
  • Canadian trade spat leads to crop change
    Canadian farmers cut canola acres amid lingering China trade spat / Bloomberg (porous paywall)
    “Simmering trade tensions with China and cool spring weather spurred farmers in Canada, the world’s biggest canola producer and a major wheat exporter, to shift more acres to the grain from the oilseed.”
  • Livestream ecommerce regulations
    China to implement first rules on livestream ecommerce in July / TechNode
    “The China Advertising Association (CAA) issued a notice on June 24 about rules to be implemented on July 1 which restricts false and misleading advertising on livestreams and requires real-name registration from both merchants and individual livestreamers.”
  • Beijing will not raise the retirement age
    Why Beijing has resisted raising the retirement age / MacroPolo
    “The short answer is that the Chinese government cannot afford to delay retirement at the moment. In the near term, postponing retirement will actually be negative for the economy. For one, since job creation is paramount amid the post-Covid recovery, Beijing needs retirees to vacate their spots that can then be filled by the unemployed, including many of the nearly 9 million recent college graduates.”
  • Tesla’s new Fujian-based battery lab
    Tesla supplier CATL breaks ground with new battery lab / Caixin (paywall)
    “The 3.3 billion yuan ($466.7 million) facility, officially named 21C Lab, will focus on developing next-generation electrochemical energy storage systems, new energy conversion systems and technologies related to metal lithium batteries, all-solid-state batteries and sodium-ion batteries…”

SCIENCE, HEALTH, AND THE ENVIRONMENT:

  • Solar subsidies plummet
    Number of solar projects awarded national subsidies plummets / Caixin (paywall)
    “A total of 434 new industrial distributed solar projects and dedicated solar power stations have been granted subsidies after the closure of annual auction bids, according to a Sunday notice from the National Energy Administration (NEA). That’s down nearly 89% from 3,921 last year.”
  • Tea shop pharmacies
    11 Guangzhou tea shops closed over pharmaceutical ingredients / Sixth Tone
    “Several local businesses had been adding acetaminophen, antihistamines, and antibiotics to their ‘cooling tea’ products in violation of China’s food safety law.”

POLITICS AND CURRENT AFFAIRS:

SOCIETY AND CULTURE: