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Chinese FDI in Indonesia Rapidly Grows as Japan’s Fades (Nikkei Asia) — China and South Korea have rapidly accelerated investment into Indonesia, official data shows, while Japan recedes as a source of capital for Southeast Asia’s biggest economy. Chinese foreign direct investment in Indonesia, including flows from Hong Kong, rose 11% to $8.4 billion last year, according to the Indonesian Investment Coordinating Board. FDI from South Korea jumped 64% to $1.8 billion. This growth contrasts with a clear decline in Japanese investment, which once led Indonesia’s FDI trends. Flows from Ja...

Premium Tea Giant Nayuki Brews Up Hong Kong IPO Money-losing premium tea specialist Nayuki Holdings Ltd. has filed to list in Hong Kong, shifting gears from an earlier plan to float shares in New York as it races to beat larger rival HeyTea to market. The two rivals are the largest players in a booming market for premium teas favored by younger Chinese who often eschew cups of the traditional hot drink for more flavorful offerings that mix in everything from chewy bubbles to fruit, caramel and even cheese foam. Nayuki didn’t disclose a fundraising target in its prospectus filed to the Ho...

Second Chinese Vaccine Wins Conditional-Use Approval From Beijing A Covid-19 vaccine developed by Sinovac Biotech Ltd. said it has received Beijing’s nod for general use in China, becoming the second such domestic applicant to such approval, as it added the shot had an efficacy rate of just over 50% in key Phase III trials. The conditional use approval from China’s National Medical Products Administration for CoronaVac came on Friday, the company said in a statement (link in Chinese) over the weekend. The nod expands the vaccine’s previous status for emergency-use only in China, which...

Telecoms Regulator Takes New Aim at Apps That Violate User Privacy - The Minsitry of Industry and Information Technology’s latest plan targets apps that illegally access microphones, photo albums and contact lists on users’ personal devices

Fast-Fading Huawei Holds Onto Smartphone Crown — in China U.S. sanctions-hobbled Huawei Technologies Co. Ltd. managed to retain its crown as the leading smartphone brand in its home China market in the final quarter of 2020, even as it continued to hemorrhage market share to a resurgent Apple Inc. and hometown rival Xiaomi Corp. Huawei’s smartphone shipments in China tumbled 34.5% to 21.7 million units in last year’s fourth quarter, giving it 25.1% of the market according to data released on Tuesday by IDC. While the decline was steep, it was less severe than a 42.4% decline for its w...