China news you might have missed this week

The China Letter: November 7, 2020

Nov 07, 2020

It’s been a busy few days of news around the world, but significant stories also keep coming out of China. Forward this newsletter to friends who might like a weekly update to keep up on those developments. And if you’re that friend, we’re happy to invite you to subscribe!

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Bug squashed by system

CNN Business @CNNBusiness

Chinese regulators stunned financial markets on Tuesday when they slammed the brakes on Ant Group's highly anticipated IPO

cnn.itAnalysis: Beijing just yanked Ant Group’s IPO to show Jack Ma who’s really in chargeAnt Group is named after a tiny bug, but the company is huge in China, where its digital payments app Alipay is a daily necessity for hundreds of millions of users.

After billionaire Jack Ma told a summit in Shanghai that Chinese banks operate with a “pawnshop” mentality, its regulators and Communist party officials retaliated with measures to halt the world’s largest initial public offering for his financial technology company. Ant Group was set to raise US$34.5 billion, one-tenth of its value.

Hong Kong tensions rising

The Associated Press @AP

Hong Kong police have arrested seven people over scuffles that broke out in the city's legislature earlier this year during a faceoff between pro-democracy and pro-Beijing lawmakers.

apne.wsHong Kong lawmakers arrested over disruption of legislatureHONG KONG (AP) — Hong Kong police arrested seven people Sunday over scuffles that broke out with security guards during a faceoff between pro-democracy and pro-Beijing lawmakers in the city’s...

The arrest of seven pro-democracy activists on charges related to obstructing a Hong Kong council meeting in May was followed by the arrest of a journalist who produced a documentary on suspicious violent mob attacks in July 2019. A hotline has been set up by Beijing for Hong Kongers to report suspected breaches of the new security law.

The new suit from Huawei

CBC Toronto @CBCToronto

Huawei is suing multiple U.S. government agencies to try to force the release of documents the company believes could reveal political motivations behind the arrest of its chief financial officer Meng Wanzhou.

bit.lyHuawei sues U.S. over ‘stonewalling’ on Meng Wanzhou documents | CBC NewsHuawei is suing multiple U.S. government agencies to try to force the release of documents the company believes could reveal political motivations behind the arrest of its chief financial officer Meng Wanzhou.

A new lawsuit claims multiple U.S. agencies ignored requests for information related to the criminal case of Huwaei executive Meng Wazhou, whose lawyers recently won the right to argue that Canada was tricked into arresting her. But the claims of a covert plot were undermined by the border officer who said police never alerted him to her case.

Trade war gets more bite

ABC News @abcnews

Fears of trade bans to come as China bans more Aussie imports

abc.net.auFears of trade bans to come as China bans more Aussie importsAustralian food, wine and resources exporters fear they may soon be hit by a wave of further Chinese sanctions after Beijing bans Queensland timber imports and suspends trade with another Australian grain exporter.

Lobster, wine and coal are just three of the Australian imports that have been banned, as Beijing has evidently built a blacklist to apparently set an example for what will follow for other countries that condemn China. Australia braced for a $6 billion cliff (the equivalent of US$4.3 billion) due to policies symbolized by the stranded lobsters.

The last words, for now

Social media photos of the office of video-sharing mobile app Kuaishou appeared to show timers to monitor the length of employee bathroom breaks. While tactics like these wouldn’t have been surprising from a tech firm based in Beijing, the company said the clocks were used to calculate how many portable toilets they needed to buy for the crowded office:

Apple Daily HK 蘋果日報 @appledaily_hk

Chinese app Kuaishou (快手) is facing a backlash for installing timers in bathrooms to time the toilet use of staff members. Read more: bit.ly/3jvCh7K #AppleDailyENG #China

bit.lyChinese techies timed for bathroom breaksChinese video-sharing app Kuaishou is facing a backlash for installing timers in bathrooms to collect data of the toilet use of staff memb...