Today's edition includes:

1 TOP STORY: Rare earth miners win in Sino-US standoff

2 ATF BIG PICTURE: Rising Tesla lifts China EV stocks  

3 ASIA MARKETS: Nikkei 225, HSI climb, CSI300 falls

4 NEWS: 5G hastens expansion of China's digital economy 

China state planner orders probes into NEV projects

China state planner orders probes into NEV projects
NDRC orders local officials to report back on New Energy Vehicle projects linked to giant corporations run by two billionaires – China Evergrande, the debt-laden home builder, and Baoneng Group, after claims that some of these car plants are 'empty' or inactive
China bonds climb as default fears ease
SOEs snap selloff as vaccine, Biden stability hopes feed into Asian markets
Rare earth stock soars as US-China standoff continues 
China’s main concern is US moves to sidle up to Mongolia, which has the world’s second largest proven reserves; the possibility of Russian malfeasance – if it allows the US to ship rare earths out of Mongolia via Russia – keeps Chinese leaders awake at night
Change is coming for Chinese banks and foreign banks in China
Top researcher says opening up the banking sector will require regulatory adjustments and a new agency to deal with the risks tied to foreign financial institutions operating in China; as well as the spread of risks between different banks
Biden’s US Treasury pick Janet Yellen brings China expertise
US President-elect Joe Biden is set to nominate Yellen as Treasury Secretary; she dealt with China both as Federal Reserve chair and before that as President of the San Francisco Federal Reserve
China launches drone that can carry a 100kg load 1,000km
The electric-powered v400 Albatross, developed by a Shanghai company, can perform tasks as diverse as carrying material, fast logistics, medical rescues and fire emergencies
China’s space mission a Long March to superpower status
Mission expected to launch nation into superpower league and pave way for a Chinese permanent space station
US tightens pressure on Chinese firms listed on Wall Street
Chinese regulators say they are cooperating on an audit and supervision proposal; but US officials are also reported to have drafted a list of 89 Chinese companies with military ties, which could see them bans if the move is endorsed next month
China's Alibaba, and Tencent could face break-up 
Speculation has emerged that big multi-platform internet sites involved in micro-lending and other e-commerce could be hit hard under proposed anti-monopoly rules
Vaccines to accelerate Asian economic recovery 
Australia, India, Indonesia, Japan and Vietnam are among the biggest pre-purchasers of Covid-19 vaccines; Less affluent Asian economies tilting towards Chinese vaccine candidates; Richer nations opt for candidates from Pfizer, BioNTech and Novavax

Today on ATF TV

Diesel switch could help India go greener quicker
Move to natural gas seen replacing ‘dirty’ fuel that powers 10 million commercial vehicles
CSRC on a mission to delist 'zombie enterprises'
Chinese regulators say 25 companies have been delisted in the past 2 years; they are keen to axe firms that are no longer a going concern, and have vowed to support listed firms to clear bad loans
G20 leaders vow to help poor nations get Covid vaccines
Debt suspension extended till mid-2021 after plea from UN Secretary-General Antonio Guterres, who warned on Friday that poor countries are 'on the precipice of financial ruin'
Apple plan to ramp up production in India 'will spur sales surge'
Analysts say outlays by three major manufacturers are likely to rev up sales of its popular handsets once iPhones start being made at sites around the country, although many will be exported as well
Why Taiwan is booming as the world economy sinks
PC maker Acer reported a Q3 profit of $80 million on revenue of $2.8 billion, a 94% y-o-y increase; indeed the whole tech sector is profiting from low Covid rates and the jump in demand for computers from people working or studying at home to avoid the coronavirus
Australia, Korea team up on rare earth project down under
Ore from a mine near Dubbo is now being processed in Korea with a new 'clean' technology, being closely watched by other operators; China's dominance in the processing sector may only be temporary, as rival facilities are planned in Malaysia, the US, Canada and Australia
Wave of China bond issues cancelled as defaults trigger market panic
Chinese media say corporate bond market has been hit by 'rolling thunder'; 126 issues cancelled after a series of major defaults in recent days by state-owned enterprises 
Rise of EVs spells the end of the oil era
Factors conspire to end demand for hydrocarbons in the region that uses more than any other
China’s Blue Book on internet development shows rapid progress
China’s digital economy, with an estimated value of $5.4 trillion, ranks among the largest in the world and internet-related businesses from education to healthcare, as well as entertainment, are among the new growth engines of the Chinese economy
China's oil thirst outweighs its recent hydrocarbon discoveries
Amid news that China is ramping up offshore oil and gas production, it needs even more resources to fuel its thriving economy, particularly natural gas for industry and power generation, as domestic oil production is still meeting less than 50% of its oil needs
China goes to war on excessive courier packaging waste
Officials have come up with a 'green product' certification system to try to get citizens to reuse packages and make the industry more environmentally friendly
China crackdown fuels bitcoin surge
A Chinese crackdown on bitcoin exchanges could be helping to drive the current surge in prices for the digital currency by preventing local 'miners' from selling

Pandemic, falling tariffs bring dimmer outlook for Adani Green

pandemic, falling tariffs bring dimmer outlook for Adani Green
Billionaire Gautam Adani’s record $6-billion solar power project has no guaranteed customer - and that is exposing the company to higher financial risk
Trump appoints ally to keep pressure on China
President Trump is placing a Republican supporter in a new role in the US Department of Commerce to keep pushing hardline anti-China policies, even though the president will be removed from office in two months
Domestic demand, exports pull Japan out of recession
Welcome news for new PM Yoshihide Suga: Economy surges 5.4% in third quarter to exit recession, helped by moderate waves of Covid-19; International Olympics chief 'very confident' delayed Games will go ahead next year with spectators
China to start big oil and gas project in South China Sea 
The Chinese recently finished building the world's largest oil and gas storage platform, which will be deployed in January in the Lingshui 17-2 field, a deepwater site 150km south of Hainan Island, to begin extracting billions of cubic metres of gas 
Huawei announces evolution from 5G to 5.5G
Company bosses envisage a 'golden decade' of building up a network that will become a new general technology that digitises all of Chinese society, from industrial internet, big data centres, artificial intelligence, new energy vehicles, intercity fast trains and more

Ant Group IPO swept off the table

Ant Group IPO swept off the table
China's new microfinance rules make the Ant listing increasingly unlikely, or that it will only happen on a smaller scale; regulators have slammed micro-lending as 'evil' and like a 'Ponzi scheme'
China to launch homegrown quantum-powered smartphones
China Telecom, the country's second largest operator, is developing smartphones with quantum encryption, which it plans to launch at the end of this year or early 2021
Don’t start the coronavirus celebrations too soon
While a vaccine is now in sight, the global economy still faces months in the doldrums; a recovery is likely in 2021, but the path will depend on progress in beating the disease; jobs lost in the services sector won't return quickly and a wave of bankruptcies looms
China just added another arrow in its LNG procurement arsenal 
Saudi Aramco, the world's largest oil firm, says it wants to expand its exports to Beijing to help it meet its carbon neutral pledge
Tech giants could face bans if they break rules, EU says
European leaders are finalising a law on internet companies; hefty penalties, such as forcing companies to split up if they want access to the single market, are likely; a draft of the law will be revealed soon; and in the US, Qualcomm has won a licence to sell 4G chips to Huawei
Baidu CEO lists eight technologies set to transform human life
Baidu boss Robin Li Yanhong has predicted that eight technologies have the capacity to transform business and people's quality of life, and says that they will have a profound impact on the digital economy and even on broader social and cultural existence
Asian pharma joins Covid treatment crusade
Japan's Fujitsu, Mizuho, PeptiDream to form joint venture to develop treatments; China's Rhodiola set to sell, test Russia's Sputnik-V vaccine
China Telecom among firms hit by latest Trump twist
China Telecom will be hit by a move to ban US investments in firms the Trump administration says are owned or controlled by the Chinese military
China’s Geely and Nio in upbeat auto news
Geely has struck a deal with German auto giant Daimler to build engines for hybrid vehicles; while Nio says it is approaching profitability on higher electric car sales
China must nix its coal addition to reach carbon neutral pledge
Nation’s energy planning pits Beijing's strategic interests against the immediate goals of cash-strapped provincial governments
Huawei faces a Biden conundrum 
Trump administration has yet to respond to Qualcomm's request to sell chips to Chinese tech giant; but even if Trump loses office, Huawei may be wise to lie low, given the volatility of the incumbent and the fact he will remain in office until any transition in late January
China ignites electric car production, sales
NEV sales in China more than doubled last month compared with a year earlier. Analysts believe the momentum will continue in the remaining two months of 2020 in a country that seeks to make all new vehicles sold in 2035 “eco-friendly”
Huawei submarine cable unit changes name, identity
Submarine cable business designed by Huawei will be switched to Huahai Communication Technology; complex corporate tie-ups may have been done to change subsidiary's structure and bury its original name after the US put sanctions on the Chinese tech giant
As stocks deplete, Huawei plans its own inhouse chips
Huawei is reportedly planning to build a new self-contained chip plant in Shanghai to bypass US sanctions and decrease reliance on foreign technology, but analysts say the path ahead will be a long and expensive one
China fears 'one last spell of Trump madness'
Shenzhen TV asks an international relations expert how Joe Biden will deal with trade friction, Taiwan, rights and whether Trump, the outgoing president, may do something crazy in the 70 days before Biden takes over as US president
China gets new bank note. But why?
With the digital yuan coming and electronic payments fast becoming the norm, the release of a redesigned five-yuan note baffles many
China launches 'world's first 6G experiment satellite'
Project seeking to establish  transceiver link on a satellite platform and carry out  terahertz communication technology in space