Over half a million ‘TikTok refugees’ flock to China’s RedNote as ban looms

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Over half a million ‘TikTok refugees’ flock to China’s RedNote as ban looms

Guardian

The Chinese social media app RedNote has seen a surge in new users, particularly from the US, as people seek alternatives to TikTok ahead of a potential ban. In just two days, over 700,000 new users joined the platform, which allows for content sharing and cultural exchanges. RedNote, known as Xiaohongshu in China, has become increasingly popular, leading to challenges in moderating English-language content. The app's executives view this influx as an opportunity for global expansion, while users express mixed feelings about transitioning from TikTok to RedNote.

https://www.theguardian.com/technology/2025/jan/14/tiktok-ban-rednote-app

TikTok users in US flock to ‘China’s Instagram’ ahead of ban

Al Jazeera

As a TikTok ban approaches in the U.S., many young Americans are turning to the Chinese social media app Xiaohongshu, seeking a similar experience. Recently, Xiaohongshu became the most downloaded app in the U.S., attracting users who call themselves "TikTok refugees." While the app, known as China's answer to Instagram, has around 300 million users, it faces potential regulatory challenges due to its Chinese ownership and content restrictions. The influx of American users may not last, as differences in monetization and platform culture could hinder their experience compared to TikTok.

https://www.aljazeera.com/economy/2025/1/15/tiktok-users-in-us-flock-to-chinas-instagram-ahead-of-ban

‘If you like Chinese, we kiss kiss’: China netizens playfully welcome ‘TikTok refugees’

South China Morning Post

As the US prepares to ban TikTok on January 19, many users are migrating to the Chinese platform RedNote, also known as Xiaohongshu. This influx, termed "TikTok refugees," has led to a surge in RedNote's popularity in the US, creating cross-cultural interactions between American and Chinese users. These exchanges include playful welcomes, sharing pet photos as a "cat tax," and collaborative English homework help. The phenomenon has sparked a sense of global unity amidst rising US-China tensions, raising questions about future regulatory challenges on the platform.

https://www.scmp.com/news/people-culture/trending-china/article/3294845/if-you-chinese-we-kiss-kiss-china-netizens-playfully-welcome-tiktok-refugees?utm_source=rss_feed

About 40% of China execs expect better U.S. relations on Trump's return: poll

Nikkei Asia

A recent survey conducted by Nikkei, Maeil Business Newspaper, and China's Global Times reveals that nearly 40% of Chinese executives anticipate improved relations with the U.S. following Donald Trump's return to the White House. This perspective differs significantly from Japanese and South Korean executives, with 83% of Japanese and 40% of South Korean managers predicting no change or a worsening in relations. Chinese executives express optimism based on past negotiations with the Trump administration that led to reduced tariffs. They also foresee opportunities for stronger economic ties with Japan and South Korea as those countries may seek to lessen reliance on the U.S. due to Trump's "America First" policies. Additionally, perspectives on the global economic outlook vary, with a majority of respondents in China and Japan expecting growth, while South Korean executives show a more pessimistic view. The survey included responses from 287 companies across the three nations, conducted between December 2 and December 18.

https://asia.nikkei.com/Economy/About-40-of-China-execs-expect-better-U.S.-relations-on-Trump-s-return-poll

‘Crucial’ time to improve China-Japan relations, Wang Yi tells Tokyo delegation

South China Morning Post

Chinese Foreign Minister Wang Yi urged Japan's ruling coalition to reflect on historical issues and emphasized the importance of dialogue to resolve problems between the two nations. During a visit by Japanese lawmakers to Beijing, Wang highlighted that both countries could effectively address challenges by maintaining a cooperative relationship and not viewing each other as threats. He called for Japan to continue acknowledging its past actions, especially in light of the 80th anniversary of the War of Resistance Against Japanese Aggression. The visit marks a potential thawing in China-Japan relations, which have been strained due to territorial disputes and Japan's alignment with the US. The Japanese delegation expressed a commitment to improving bilateral cooperation, and the meeting was the first dialogue between the governing parties in over six years. They also brought a letter from Japan's Prime Minister to Chinese President Xi Jinping.

https://www.scmp.com/news/china/diplomacy/article/3294843/crucial-time-improve-china-japan-relations-wang-yi-tells-tokyo-delegation?utm_source=rss_feed

Chinese Celebrities and Tourists Think Twice About Thailand

NY Times

The recent abduction of Chinese actor Wang Xing in Thailand has prompted widespread concern among Chinese travelers, leading to a significant decline in tourism to the country. Following Wang's rescue from a scam compound in Myanmar, many travelers have canceled or altered their plans, with tour agencies reporting a surge in requests for refunds or destination changes. High-profile events, such as concerts by Eason Chan and Zhao Benshan, have also been canceled or postponed due to safety concerns. Thai Lion Air noted a 20% cancellation rate for chartered flights between China and Thailand, reflecting the growing unease about safety in the region ahead of the busy Lunar New Year holiday. Social media discussions in China have further highlighted these concerns, indicating a potential long-term impact on Thailand's tourism sector.

https://www.nytimes.com/2025/01/15/world/asia/china-thailand-kidnapping-travel.html

Slew of indebted Chinese developers face reckoning in Hong Kong courts

South China Morning Post

Chinese developers are facing ongoing financial struggles, with new liquidation petitions and winding-up hearings emerging in Hong Kong. Sunac China Holdings and Shimao Group Holdings received fresh petitions, while Country Garden and Times China Holdings have upcoming court hearings. Tianji Holding, part of China Evergrande Group, was granted an eight-week delay for its winding-up hearing. Evergrande has faced significant liquidation issues, and creditors are increasingly pursuing legal actions to recover debts following the company's failure to restructure nearly $20 billion in offshore debts. The property sector is under severe strain, with developers facing over $95 billion in bond maturities this year. Country Garden is attempting to restructure up to $11.6 billion in offshore debt, while Times China and Sunac are dealing with their own financial troubles and legal challenges. The overall situation is dire, with over half of legal cases related to defaulted property bonds still unresolved.

https://www.scmp.com/business/china-business/article/3294828/slew-indebted-chinese-developers-face-reckoning-hong-kong-courts?utm_source=rss_feed

TikTok needs a US buyer so bad it might seek out Elon Musk

CNN

Americans could lose access to TikTok by January 19 unless China approves its sale to a non-adversary. Reports suggest China may consider selling TikTok's US operations to Elon Musk, despite TikTok's denial of being for sale. If this occurs, TikTok could change significantly under Musk's control. Users are exploring alternatives like Lemon8 and Instagram Reels, but many prefer TikTok’s unique culture. Analysts note acquiring TikTok might boost Musk's X platform, though concerns exist about his capacity to manage multiple companies. The situation remains fluid with the deadline approaching.

https://edition.cnn.com/2025/01/15/business/elon-musk-tiktok-china-nightcap/index.html

Shanghai courts Taylor Swift for 2025 show as Chinese cities bet on stars to boost economy

South China Morning Post

Shanghai has initiated preliminary discussions with Taylor Swift about a potential concert this year, as local officials aim to attract international stars to boost the city's economy. Zhang Qi, a tourism official, expressed optimism about the possibility of the concert, despite regulatory hurdles that often complicate hosting foreign artists in China. The Shanghai government has recognized the economic impact of major performers, referring to them as "walking GDP" and advocating for relaxed restrictions to facilitate more high-profile shows. Swift's last Asia stops were in Japan and Singapore, and her concert film has been popular in China. Other cities, like Hangzhou, are also eager to host big-name artists as a means to stimulate tourism and consumer spending. Recent performances by international stars in China have generated significant revenue, highlighting the demand for live music events.

https://www.scmp.com/news/china/diplomacy/article/3294835/shanghai-courts-taylor-swift-2025-show-chinese-cities-bet-stars-boost-economy?utm_source=rss_feed

Hong Kong’s IPO market excites global funds, bankers as jumbo deals return, CICC says

South China Morning Post

Chinese companies are increasingly pursuing stock offerings in Hong Kong, driven by demand from global funds and enhanced market conditions. Major firms like Foshan Haitian and CATL are planning significant IPOs, with expectations to raise billions. Improved market sentiment and recent reforms in Hong Kong have encouraged these moves. Despite challenges in achieving competitive valuations compared to mainland listings, optimism remains for 2025. The central bank's initiatives to boost market connectivity and facilitate fundraising for quality enterprises in Hong Kong further support this trend.

https://www.scmp.com/business/banking-finance/article/3294824/hong-kongs-ipo-market-excites-global-funds-bankers-jumbo-deals-return-cicc-says?utm_source=rss_feed

Trump’s security pick pledges China strategy that reinforces Indo-Pacific ties

South China Morning Post

Incoming US national security adviser Mike Waltz affirmed that the new administration will continue and strengthen the Indo-Pacific strategy, including arms sales to Taiwan, to deter China. He emphasized leveraging partnerships with allies like Australia and Britain to counter Chinese influence. Waltz highlighted the importance of trilateral dialogues and pledged to ensure the delivery of a $20 billion arms backlog to Taiwan. He also noted the need to address dependencies on critical minerals from China and to maintain strategic communication with Beijing while managing competition in the tech realm.

https://www.scmp.com/news/china/diplomacy/article/3294804/trumps-security-pick-pledges-china-strategy-reinforces-indo-pacific-ties?utm_source=rss_feed

China makes inroads in DRAM chips in challenge to Samsung and Micron

Nikkei Asia

In the last five years, China's share of the global memory chip market has increased from nearly zero to 5%, and this figure is expected to double this year, posing a challenge to leading companies like Samsung, SK Hynix, and Micron. This growth is largely attributed to ChangXin Memory Technologies (CXMT), which has successfully ramped up production of dynamic random access memory (DRAM) chips, essential for various electronic devices. Additionally, CXMT is also working on high-bandwidth memory (HBM) chips aimed at artificial intelligence computing, indicating China's strategic push to enhance its semiconductor capabilities.

Despite U.S. restrictions on advanced DRAM chipmaking equipment, China is determined to achieve self-sufficiency in the memory chip sector. CXMT is projected to produce the equivalent of about 10% of the global DRAM output by 2024, although its actual market share remains lower due to production quality concerns. Other Chinese companies like Fujian Jinhua Integrated Circuit Co. and SwaySure are also contributing to the memory chip market, albeit their outputs are still limited. Importantly, the rise of domestic suppliers is affecting the global supply-demand balance in the volatile DRAM market, with analysts suggesting that increased Chinese production could pressure existing players.

Chinese memory chipmakers enjoy significant advantages, such as lower prices—up to 30% less than global competitors—and government support for local purchases. This competitive edge is enhanced by the vast domestic market for electronics, where Chinese companies hold substantial shares. However, while CXMT and its peers focus primarily on the local market, their ambitions could extend internationally over time. The geopolitical landscape complicates matters, as some Chinese firms face scrutiny or bans from the U.S., influencing their global partnerships. Nevertheless, CXMT's advancements in DRAM production and its focus on high-grade products could soon challenge established players in the memory chip industry.

https://asia.nikkei.com/Business/Technology/Tech-Asia/China-makes-inroads-in-DRAM-chips-in-challenge-to-Samsung-and-Micron

Hong Kong stocks waver before key economic data from US and China

South China Morning Post

Hong Kong stocks showed fluctuations before key economic data from the US and China is released, which will influence interest-rate outlooks and assess China's economic recovery. The Hang Seng Index slightly rose by 0.1% to 19,241.68, while the Hang Seng Tech Index fell by 0.5%. The CSI 300 Index and the Shanghai Composite Index saw declines of 0.4% and 0.3%, respectively. Notable stock movements included China Merchants Bank, which increased by 2.9% after reporting a profit rise, and Li Ning, which gained 2.4%. Conversely, Zijin Mining Group's shares dropped 7.4% after being added to a US blacklist over forced labor allegations. Key upcoming data includes US inflation figures and China's fourth-quarter economic growth, which is anticipated to show an acceleration. Other Asian markets displayed mixed results, with Japan's Nikkei 225 down 0.1%, while South Korea's Kospi and Australia's S&P/ASX 200 saw slight increases.

https://www.scmp.com/business/china-business/article/3294784/hong-kong-stocks-waver-key-economic-data-us-and-china?utm_source=rss_feed

Japan earmarks $1bn in support for chip designers

Nikkei Asia

Japan is allocating 160 billion yen ($1 billion) to support its chip design industry, shifting from an earlier focus on production to enhance competitiveness with the U.S. and China. The Ministry of Economy, Trade and Industry plans to fund projects from tech companies, startups, and universities over five years, targeting advanced chips for AI, data centers, and other technologies. This initial funding, part of the fiscal 2024 supplementary budget and proposed fiscal 2025 budget, will cover costs like electronic design tools and research personnel.

Japan's semiconductor market share is low at 9%, compared to the U.S.'s 51%, with even less presence in electronic design automation tools. The government aims to increase support for both semiconductor manufacturing and design, with a commitment of over 10 trillion yen for the semiconductor and AI sectors by 2030. Additionally, plans include training talent through courses in collaboration with advanced U.S. firms. The government's efforts come amidst rising tensions in the semiconductor industry, particularly with U.S. export restrictions affecting China.

https://asia.nikkei.com/Business/Tech/Semiconductors/Japan-earmarks-1bn-in-support-for-chip-designers

Huawei eyes global smartphone comeback with in-house chips

Nikkei Asia

Huawei is making a global comeback by expanding its smartphone sales to approximately 60 markets, featuring its latest Mate X6 foldable phone equipped with in-house developed Kirin chips. Despite U.S. sanctions limiting access to high-performance chips, Huawei has improved its technology, allowing for better video processing and connectivity. The Mate X6 is priced at 1,999 euros in Europe and has been introduced in several regions, including the Middle East and South America. Huawei aims to shift towards its own HarmonyOS for future smartphones, reflecting its resilience amid previous challenges.

https://asia.nikkei.com/Spotlight/Huawei-crackdown/Huawei-eyes-global-smartphone-comeback-with-in-house-chips

US firms up crack down on cars containing Chinese technology

Australian Broadcasting Corporation

The US government has finalized a rule that effectively bans Chinese and Russian technology from American cars due to national security concerns regarding smart car technology. This ban will apply to vehicles manufactured in the US if they contain significant technology links to these countries. For model year 2027 cars, the ban will include software, while hardware imports will be restricted starting in 2030. Commerce Secretary Gina Raimondo emphasized that modern cars are equipped with advanced technologies like GPS and cameras, and the measures aim to keep foreign technologies off American roads.

On the same day, President Joe Biden signed an executive order to open federal land for data centers that support artificial intelligence, aiming to enhance US tech infrastructure while ensuring environmental standards. The order mandates the use of renewable energy for these data centers and includes plans to upgrade power transmission lines. However, it does not address concerns about electronic waste generated by the tech industry.

https://www.abc.net.au/news/2025-01-15/biden-ai-infrastructure-smartcars-ban/104818328

AUKUS pact keeping China's Xi Jinping up at night, Republican claims

Australian Broadcasting Corporation

A senior Republican, Texas representative Michael McCaul, expressed optimism about the AUKUS deal under President-elect Donald Trump, believing it could deter a potential third world war. He highlighted Australia’s strategic role against China and the importance of nuclear-powered submarines in the agreement. McCaul emphasized the need for U.S. support in the Indo-Pacific region, which he views as a potential flashpoint for conflict. The AUKUS deal aims for Australia to acquire submarines from the U.S. starting in the 2030s, with Australia investing $3 billion to bolster the U.S. submarine industrial base.

https://www.abc.net.au/news/2025-01-15/us-congress-waits-for-donald-trump-position-on-aukus/104819544

Xi Jinping faces Catch-22 with the yuan in 2025

Nikkei Asia

William Pesek discusses the challenges facing China as it navigates economic deflation and potential trade tensions with the incoming Trump administration. Despite assurances from the People's Bank of China to stabilize the yuan, traders remain skeptical, anticipating aggressive easing or even a devaluation of the currency. Xi Jinping's government grapples with significant debt and economic frailty, necessitating bold reforms beyond mere monetary easing. The article emphasizes the urgency for China to adopt a comprehensive strategy to address its economic issues, warning that failure to do so could exacerbate tensions with the U.S. and disrupt global markets.

https://asia.nikkei.com/Opinion/Xi-Jinping-faces-Catch-22-with-the-yuan-in-2025

ByteDance to invest US$614 million in computing centre in China amid high AI demand

South China Morning Post

ByteDance, the parent company of TikTok and Douyin, plans to invest 4.5 billion yuan (US$614 million) in a new computing center in Datong, Shanxi province, to enhance its AI services. The facility, known as the Volcano Cloud Taihang Computing Centre II Phase, will cover over 205,000 square meters and include six data center buildings and other infrastructure. It aims to support ByteDance's growing AI platform, Doubao, which has gained significant popularity with 51 million active users. Despite the costs associated with training AI models, ByteDance has yet to announce monetization plans for Doubao. The project aligns with the local government's push to promote the big data industry in the region, which has been transitioning from its traditional coal industry focus. Construction on the first phase of the center began in May 2023 and is nearing completion.

https://www.scmp.com/tech/big-tech/article/3294738/bytedance-invest-us614-million-computing-centre-china-amid-high-ai-demand?utm_source=rss_feed

Why China may be OK with TikTok selling to Elon Musk

CNN

The Chinese government appears to be reconsidering its previous opposition to the sale of TikTok's US assets, potentially opening discussions with Elon Musk as a prospective buyer. Reports suggest that Chinese officials are considering a partial sale of the app to Musk's company, X, just as a law allowing for a forced sale is set to take effect in the United States. This marks a significant shift in China's stance, prompted by the Supreme Court's indication to uphold the law due to national security concerns. Despite past declarations from ByteDance, TikTok's parent company, that the app is not for sale, the potential deal with Musk could serve the interests of all parties involved, including ByteDance's desire to retain some value from the US market and China's interest in maintaining influence through a familiar ally.

Musk's acquisition of TikTok could bolster his social media empire while enhancing his image as a defender of free speech, even as he remains largely silent on Chinese governmental issues. His previous business dealings and strong relationships with Chinese officials, particularly through Tesla, position him favorably for this negotiation. Analysts suggest that a possible deal could also serve as leverage for China in tariff negotiations with the incoming Trump administration. However, there are significant hurdles to such a sale, including the potential cost of $40 to $50 billion, the need for Chinese government approval, and the complexities surrounding TikTok's recommendation algorithm, which some experts deem essential to the app's operation.

Despite the intriguing possibilities, many challenges remain in Musk's path to acquiring TikTok, including financing concerns and the uncertain reception from TikTok's user base. Following Musk's controversial ownership of X, there are fears among users that TikTok might undergo similar changes, leading to a potential exodus of users. This sentiment could diminish the app's value for Musk and his investors. Overall, while discussions about a TikTok sale to Musk are underway, the outcome remains uncertain and fraught with potential complications.

https://edition.cnn.com/2025/01/14/tech/china-tiktok-sale-elon-musk-analysis/index.html

How Biden’s domestic policy record stacks up against public perception

Associated Press

President Joe Biden's term concludes with a significant divide between his policy achievements and public perception. While he has focused on long-term goals, many voters have expressed dissatisfaction with his handling of immediate issues such as soaring inflation and illegal border crossings. As Biden's major domestic policies are still being implemented, the true impact of his presidency may not be fully realized until after he hands over the White House to Donald Trump.

Biden's administration has made substantial strides in addressing the COVID-19 pandemic by implementing a $1.9 trillion relief package that provided direct payments to households and support for local governments and schools. This funding helped generate job growth, with 17 million jobs added during his presidency. However, inflation became a pressing concern, driven by global supply chain disruptions and rising energy costs exacerbated by the war in Ukraine. While Biden noted that inflation rates have declined, public sentiment has remained critical, as wage growth has not kept pace with rising consumer prices.

Biden's infrastructure initiatives and efforts to bolster domestic manufacturing, particularly in the semiconductor industry, have also faced challenges. Despite the bipartisan infrastructure deal, many projects will take years to complete, delaying visible benefits for voters. The Inflation Reduction Act, though ambitious in addressing climate change and healthcare, has been criticized for not providing immediate relief from rising costs. Additionally, Biden's handling of the national debt has raised concerns, further complicating his legacy as he exits the presidency amidst ongoing economic challenges.

https://apnews.com/article/biden-record-pandemic-inflation-economy-infrastructure-5f7d6b35e6fbc8d7fa2d8e0f24331d06

Xi Jinping, in first talk with new European Council president, seeks more EU-China cooperation

South China Morning Post

Chinese President Xi Jinping emphasized closer cooperation with Europe amid global turmoil during a call with European Council President Antonio Costa. They discussed issues including Russia's invasion of Ukraine and trade grievances. Xi advocated for respect between China and Europe and called for a peaceful resolution in Ukraine. Costa urged China to avoid supplying dual-use goods to Russia and stressed the need for balanced trade relations. Both leaders recognized the importance of cooperation to address global challenges like climate change. The call marked a resumption of dialogue between Beijing and EU leadership amid strained relations.

https://www.scmp.com/news/china/diplomacy/article/3294766/xi-jinping-first-talk-new-european-council-president-seeks-more-eu-china-cooperation?utm_source=rss_feed

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