The Asian reporter., January 01, 2024, Page 2, Image 2

Page 2 n THE ASIAN REPORTER
ASIA / PACIFIC
January 1, 2024
Chinese navy ships are first to dock at new
pier at Cambodian naval base linked to Beijing
PHNOM PENH, Cambodia (AP) — Chinese naval vessels were the first ships
to dock at a new pier at a Cambodian naval base that the United States and
some international security analysts say is destined to serve as a strategic
outpost for Beijing’s navy. The docking of the two ships, which received little
publicity, coincided with an official visit to Cambodia in December by China’s
top defense official, vice chairman of the Central Military Commission He
Weidong. News of at least two Chinese ships docking at the Ream Naval Base on
the Gulf of Thailand came out indirectly, through a Facebook post by Cambodian
defense minister Tea Seiha. It said he visited the base to see preparations for
Cambodian navy training and to inspect progress on infrastructure
construction, but did not mention China by name. He also posted photos
showing Cambodian officials with Chinese ambassador Wang Wentian, and
reviewing Chinese sailors. At least two warships could be seen in the photos, one
whose gangway identified it as the Chinese navy corvette Wenshan. Satellite
photos taken by Planet Labs PBC analyzed by The Associated Press showed
what appeared to be two Chinese warships docked at the base. They correspond
to the images shared online by Tea Seiha. The AP analysis, comparing the ship’s
measurements and the images released by the minister, suggest they were Type
56 Chinese corvettes. Controversy over Ream Naval Base initially arose in 2019
when The Wall Street Journal reported that an early draft of a reputed
agreement seen by U.S. officials would allow China 30-year use of the base,
where it would be able to post military personnel, store weapons, and berth
warships. Cambodia’s then-Prime Minister Hun Sen denied there was such an
agreement. He pointed out that Cambodia’s constitution does not allow foreign
military bases to be established on its soil, but said visiting ships from all
nations are welcome.
Beijing sees most December sub-freezing temps since 1951
BEIJING (AP) — Beijing recorded the most hours of sub-freezing tempera-
tures in December in more than seven decades as a cold wave enveloped
northern and central swathes of China, bringing snowstorms and record-
breaking temperatures. A weather observatory in the Chinese capital as of
December 24 had recorded more than 300 hours of sub-freezing temperatures
since December 11 — the most since records began in 1951, according to the
official newspaper Beijing Daily. The city saw nine consecutive days with
temperatures below minus 10 degrees Celsius (14 degrees Fahrenheit), the
paper added. Parts of northern and central China shivered under frigid cold
snaps last month, with authorities closing schools and highways several times
due to snowstorms. Temperatures at 78 weather stations across the country hit
record lows for the month of December, while average temperatures in northern
and some central parts of China hit record lows set in 1961, according to the
National Meteorological Centre.
Eddie Jones hired for second stint as Japan rugby coach
TOKYO (AP) — Eddie Jones has been hired for a second stint as Japan’s coach
in a deal taking him through to the 2027 Rugby World Cup. The 63-year-old
Jones quit as the Australia coach on October 29 after his native country’s woeful
World Cup campaign in France, during which he denied holding talks with the
Japanese Rugby Football Union. Jones, whose mother is Japanese, will start his
new role January 1st on a four-year deal, returning to a position he had from
2012 to 2015 and that culminated in him leading the Brave Blossoms to one of
the biggest upsets in rugby — and any sport — when they beat South Africa at
the 2015 World Cup. After leaving that job following the World Cup, he coached
England for seven years — leading the team to the 2019 final — before spending
less than a year in a second spell with the Wallabies. Jamie Joseph departed as
Japan’s coach after the recent World Cup, where the team was eliminated in the
pool stage.
SPIRITED CHANGE. In this image taken from video, visitors look at the bottling process of a customized bottle
of The Chuan whisky at the Chuan Malt Distillery in Emeishan, in southwestern China’s Sichuan province. The more
than $100 million distillery, owned by Pernod Ricard and based at the UNESCO World Heritage site of Mount Emei,
has launched a pure-malt whisky, The Chuan is aiming to tap a growing taste among young Chinese for whisky in
place of the traditional “baijiu” used to toast festive occasions. (AP Photo/Caroline Chen)
Whisky wooing young Chinese
away from “baijiu” as top
distillers target a growing market
BEIJING (AP) — A distillery in
southwestern China is aiming to tap a growing
taste among young Chinese for whisky in place
of the traditional “baijiu” liquor used to toast
festive occasions.
The more than $100 million distillery owned
by Pernod Ricard based at the UNESCO World
Heritage site of Mount Emei has launched a
pure-malt whisky, The Chuan.
The French wine and spirits group says it is
produced using traditional whisky-making
techniques
combined
with
Chinese
characteristics including locally grown barley
and barrels made with oak from the Changbai
mountains in northeastern China.
“Chinese terroir means an exceptional and
unique environment for aging, including the
water source here — top-notch mineral water.
The source of water at Mount Emei is very
famous,” says Yang Tao, master distiller at the
distillery.
A centuries-old drink, whisky is relatively
new to China, but there are already more than
30 whisky distilleries in the mainland,
according to the whisky website Billion Bottle.
Whisky consumption in China, as measured
by volume, rose at a 10% compound annual
growth rate from 2017 to 2022, according to
IWSR, a beverage market analysis firm. Sales
volume is forecast to continue to grow at
double digit rates through 2028, according to
Harry Han, an analyst with market research
provider Euromonitor International.
“We see huge potential for whisky here in
China. It is a product which is developing very
nicely, very strongly,” said Alexandre Ricard,
chairman and CEO of Pernod Ricard. “We do
believe that the Chinese have developed a real
taste, particularly for malt whisky.”
Raymond Lee, founder of the Single Malt
Club China, a whisky trading and distribution
company in Beijing, said whisky has become
more popular as the economy has grown.
“As the economy develops and personal
income increases, many people are pursuing
individuality. In the past we all lived the same
lives. When your economic conditions reach a
certain level, you will start to seek your own
individuality. Whisky caters just to the
consumption mindset of these people. And its
quality is very different from that of other
alcoholic drinks,” he says.
On a recent Friday night at a bar in Beijing,
28-year-old Sylvia Sun, who works in the
music industry, was enjoying a whisky on the
rocks.
“The taste of it lingers in your mouth for a
very long time. If I drink it, I will keep thinking
about it the rest of tonight,” she said.
Lee, who has been in the industry for more
than 35 years, said the whisky boom is largely
driven by younger Chinese who are more open
to western cultures and lifestyles than their
parents’ generation was.
More than half of China’s whisky consumers
are between 18 and 29 years old, according to
an analysis based on data from the
e-commerce channel of Billion Bottle, which
has more than 2 million registered users.
“Now the country is more and more open,
and there are increasing opportunities to go
Continued on page 4
Asian Currency
Exchange Rates
Tesla to build energy-storage battery factory in China
BEIJING (AP) — American electric automaker Tesla’s plans to produce
energy-storage batteries in China has moved forward with a signing ceremony
for the land acquisition in Shanghai, according to China’s state media. The
factory won’t build batteries for cars, but for electric utilities and other
companies to store power. Such storage units have become increasingly
important with the growth in solar and wind energy, which only generate
electricity when weather conditions are favorable and need to store it for when
residential and commercial users need it. The new factory will initially produce
10,000 of Tesla’s Megapack units annually for sale worldwide, Xinhua said. The
Tesla project is a rare piece of good news for the Chinese economy, which saw a
sharp drop in foreign investment in 2023. The Commerce Ministry said foreign
investment in the first 11 months of 2023 was down 10% compared with the
same period last year. Foreign companies are worried about the Chinese
government’s increasing control over business on national security and other
grounds, as well as growing U.S. restrictions on technology trade with China.
China is a major market and manufacturing center for Tesla, and the company’s
CEO, Elon Musk, has built close ties with Chinese officials even as U.S.-China
relations soured. In May, he met the commerce minister and the then-foreign
minister in Beijing. Tesla built an electric vehicle plant in Shanghai in 2019 that
assembles cars for China, Europe, and other overseas markets. China is also by
far the world leader in installing wind and solar capacity, making it a major
market for energy storage.
Units per U.S. dollar as of 12/29
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109.75
4091.2
7.1132
2.19
7.8099
83.186
15389
42018
141.03
20557
4.595
133.16
281.13
3.73
55.398
90.157
3.7501
1.3196
1294.5
323.92
30.7
34.38
24270