Caixin Global’s Top Stories newsletter of the month brings you the most popular news coverage of the past month.You can do it opt in Free delivery to your inbox every month.
The Communist Party Central Committee NEW LEADERSHIP LINEUP Xi Jinping is re-elected General Secretary and will steer China for the next five years. At the 20th National Congress, President Xi said to the Party, modern socialist country By 2050, while preparing for major challenges.
In the tech field, the Biden administration the hardest blow But the US war against China’s semiconductor ambitions has recently escalated. While sweeping away new export controls would further hamper China’s access to the global semiconductor industry, they would also: Big hit to US business revitalize china local tech push.
As tensions rise in China and the U.S. and tightening regulations, Byte Dance Co., Ltd. is struggling to commercialize short-video platform TikTok, an app that grabs the attention of hundreds of millions of people around the world.
On the other hand, China’s Internet industry global e-commerce Push as we face slowing domestic growth.
# US Tip Restrictions #
Cover Story: The Widespread Impact of New US Semiconductor Restrictions
The Biden administration has suffered its biggest blow so far this month as the U.S. war against China’s semiconductor ambitions intensifies. The sweeping new restrictions announced on October 7 affect not only the sale of advanced integrated circuits, advanced chip-making equipment and supercomputer components, but also China’s ability to hire top talent. increase.
In the short term, restrictions will limit China’s chip makers’ ability to make certain types of electronic devices that are at the heart of modern products, from consumer electronics to mobile phones, smart electric vehicles and advanced military weapons. Longer term, the policy could encourage China to become more self-sufficient in semiconductors and the equipment to make them, industry experts say.
Chart of the Day: US Chip Limits Digging Deeper
The US government’s tightening of export controls targeting China’s semiconductor sector has been described as a double-edged sword. While slicing through China’s technological ambitions, it will also go deep into the companies that provide them, both in the United States and around the world.
This is because the United States and its allies such as Japan and the Netherlands supply most of the world’s semiconductor manufacturing equipment.
According to ICwise, China is the largest market for the three largest U.S. semiconductor equipment suppliers, accounting for 33% of Applied Materials’ sales, 35% of Lam Research’s sales and 26% of KLA’s sales.
More information: Can US chip limit tightening revitalize China’s local tech push?
China’s access to the global semiconductor industry suffered another blow after the United States effectively cut off supplies of high-end chips to China and of the equipment used to manufacture them.
A dramatic escalation came with the addition of 31 companies, mostly semiconductor companies, to the US Department of Commerce’s “unconfirmed list.” That means if you don’t let US authorities inspect where your imported US technology ends up, you risk being blacklisted.
Related
Read more: The sudden reversal of the global chip shortage
Analysis: Export restrictions weigh on US companies as Chinese customers seek reliable alternatives
# 20th National Congress of the Communist Party #
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China nominates new party leader for next five-year term
The Communist Party’s Central Committee on Sunday named a new line-up of party leaders to lead the country for the next five years.
The Politburo Standing Committee (PSC), the party’s highest decision-making body, headed by re-elected General Secretary Xi Jinping, appeared before Chinese and foreign journalists at the Great Hall of the People in Beijing at noon on Sunday, virtually confirming Other members are Li Qiang, Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang and Li Xi.
Xi Calls on CCP to Build Modern Socialist China by Mid-Century
At the opening ceremony of the 20th National Congress of the Communist Party of China, President Xi Jinping called on all Party members to build China into an all-round modern socialist state by the middle of the 20th century and to face major challenges along the way. I called on you to be prepared to endure.
In his second conclave address in ten years, Xi said this modernization would be the party’s central task “from today.” “China’s Modernization Road”.
Related
Beijing, Shanghai party leaders among newcomers appointed to top decision-making bodies
The younger generation has become the majority of the Communist Party’s elite
# Electronic Commerce #
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Cover Story: TikTok is the world’s most popular app. Can it make money?
Parent company ByteDance Ltd., which has captured the attention of hundreds of millions on short-video platform TikTok, has struggled to commercialize and ultimately monetize its app amid increased regulation and rising US-China tensions. Therefore, it is now the center of attention. .
The company’s growth was underpinned by its advertising revenue in China surpassing 200 billion yuan ($28 billion) last year, more than double that of Tencent Holdings and second only to Alibaba Group Holding’s 316.4 billion yuan. , is currently facing headwinds. both domestically and internationally.
TikTok expands into Southeast Asia to push e-commerce
ByteDance’s TikTok is accelerating its e-commerce forays into Southeast Asia, as the Chinese tech giant pushes to commercialize a popular short video app to create new revenue streams.
In the first half of the year, TikTok launched e-commerce operations in Thailand, Vietnam, Malaysia, the Philippines, and Singapore, expanding its presence to all major markets in the region. TikTok will operate an online shopping service in Indonesia, Southeast Asia’s largest economy, from early 2021.
Read more: Chinese internet giant gears up for global e-commerce push
Pinduoduo Inc., once China’s hottest internet newcomer, pioneered the US market with the first cross-border e-commerce platform and is leading a new wave of Chinese tech companies going abroad.
The company’s Temu platform launched on September 1 and sells items ranging from $2 Bluetooth earbuds to $4 sneakers with free shipping on orders totaling $29. It employs the same low-price marketing strategy that Pinduoduo is known for in China. Temu ranks 15th among all shopping apps in the US by downloads as of September 11th.
China’s internet industry is accelerating its pace of internationalization, an executive at a large domestic private equity fund told Caixin. Companies are going abroad for similar reasons, facing slowing user growth, slowing revenues, disruptions from Covid and weakening consumption at home.
Related
Caixin Explains: 5 Things You Should Know About TikTok’s Future
# Weekend long read #
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Can Nobel Prize Winner’s Research Really Help China Win?
It’s the season when the Nobel Prize is announced. In China, winning awards has long been a national goal.
When novelist Mo Yan won the 2012 Nobel Prize in Literature, becoming the first Chinese to win the prize, Xu Fei, then dean of the Department of Philosophy at the University of Science and Technology of China, said:
“The most genuine Nobel Prize is actually for science.”
