Links for Monday, July 13, 2020

Notable China news from around the web.

BUSINESS AND TECHNOLOGY:

Previously, foreign banks could only apply for a fund custody license through their local subsidiaries in China. Their local branches, which have no independent legal status from their overseas headquarters, were barred from entering the sector. The license allows a company to provide custody services for fund products issued by fund firms or other asset managers in China, namely holding the fund’s assets for safekeeping.

“Although nonperforming loans on banking institutions’ balance sheets have not increased significantly since the start of this year, they are expected to rise in the near future,” the China Banking and Insurance Regulatory Commission (CBIRC) said in a statement (link in Chinese) on Saturday.

SCIENCE, HEALTH, AND THE ENVIRONMENT:

POLITICS AND CURRENT AFFAIRS:

“You can’t just allow teachers to talk, and impose their views, free for all,” said Regina Ip, a cabinet member who leads a pro-Beijing party in the legislature. “Critical thinking does not mean training people to criticize or attack.”

“If this so-called primary election’s purpose is to achieve the ultimately goal of… rejecting to, resisting every policy initiative of the Hong Kong SAR government, then it may fall into the category of subverting the state power,” [Executive Lín Zhèng Yuè-é林鄭月娥] said, “which is now one of the four types offences under the new national security law.”

It started on Friday, with a retweet by U.S. ambassador Todd Chapman of a State Department account which accused China’s Communist Party of conducting a “mass sterilisation campaign for women as part of its crackdown on Uygurs and other ethnic minorities” in Xinjiang. “Silence is not an option,” Chapman said.

Each country has accused the other of provocative actions along the murky border. But according to people who live and work in the region, Ladakh, a Chinese push into Indian territory has been building for years…

The Ladakhis caught in between are a fragile group, numbering perhaps a few hundred thousand. They are Tibetan in culture, identify themselves as Indian and have long been pulled in different directions at the edges of empire.

SOCIETY AND CULTURE: