More Chinese are turning vegetarian, vegan restaurants on the rise. But why?

Agencies
February 26, 2018

Beijing, Feb 26: China - the world's largest market for beef, pork and poultry - is steadily growing wary of meat as health-conscious Chinese are taking to a vegetarian diet that has sparked mushrooming of vegan restaurants in the world's most populous country.

China's restaurant industry over the past few years is reporting growing number of entrepreneurs looking to capitalise on the popularity of healthy eating, which usually means a meatless, organic and environmentally-friendly diet.

The niche market of vegetarian and vegan eateries has never been more competitive, a recent report from various cities compiled by the Hong Kong-based South China Morning Post said.

Han Lili, a Shanghai-based artist who has tracked and mapped vegetarian and vegan restaurants in major Chinese cities including Shanghai, Chengdu, Lhasa, and Hong Kong since 2012, said it had been difficult to accurately count the number in operation in the past year or two because the market changed so rapidly.

In Shanghai, China's largest city, the number of vegan outlets soared from 49 in 2012 to more than 100 last year, she said. In Chengdu, the capital of Sichuan province, almost half the 80 eateries needed updating after her last count.

A report by research firm Euromonitor said though China is still the world's biggest market for pork, beef and poultry, the demand showed a decline in recent years.

A report by Chinadialogue.Net said sales of pork declined from 42.49 million tonnes in 2014 to 40.85 million tonnes in 2016. A new dietary guideline issued by China's health industry two years ago also suggested eating less meat, poultry and seafood.

The Chinese meat industry adds around 150 million tonnes of carbon dioxide to the atmosphere every year, according to one study.

The growing trend of vegetarianism showed more Chinese turning to fruits and vegetables. China currently consumes 40 percent of the world's fruit and vegetables, indicating the growing trend of vegetarianism in China.

UN trade figures show that between 2010 and 2016, China's imports of avocados rose from 1.9 tonnes to 25,000 tonnes a 13,000-fold increase.

According to one study, the vegan market in China is expected to rise by more than 17 per cent between 2015 and 2020. This will be the fastest rate of growth internationally in this time period and suggests a huge shift in consumer habits in Asia.

Health campaigns are also trying to influence people's habits. Environmental group WildAid held an event in Beijing in August 2017 to promote vegetarianism.

Popular actor Huang Xuan said his family is eating more and more vegetarian food, a change from the traditional diet in his native province of Gansu in China's northwest, which is high in beef and mutton.

He thinks it's because people are more aware of the links between meat-eating, high blood pressure and obesity.

In 2014, state-run Xinhua news agency quoted Public Radio International, an independent non-profit multi-media organisation, reporting that China's vegan population has reached more than 50 million.

Dr Xu Jia, a dietician who leads the China programme at the Physicians Committee for Responsible Medicine, a Washington-based NGO, said he estimated one percent would be closer to the truth.

A study conducted by researchers from Shanghai Jiao Tong University in 2016 surveyed more than 4,000 people in the city and found that 0.77 percent were vegetarians.

According to the world vegetarian outfits, India where vegetarianism was rooted in religion and culture estimated to have over 500 million vegetarians who shun meat in their meal.

Significantly, the vegan culture is spreading among young people in China which has a population of over 1.3 billion.

The Shanghai Jiao Tong University study also surveyed eight popular vegetarian restaurants in downtown Shanghai and found that close to half their customers were aged between 20 and 29, even though the average age of vegetarians was 65.

Sixthtone.Com, a youth news portal has reported that in November last year Hebei University of Environmental Engineering in the city of Qinhuangdao has added a vegetarian counter in the canteen at the request of a student organisation called the Lohas Vegetarian Society.

"Sure, it might not be front-page news, but by serving meat-free meals to college students, the college is embracing a heartening trend toward vegetarianism in a society where most square meals contain pork, chicken, or beef," the report said.

Stories like this have played out across more and more Chinese universities, driven by the recently established Universities and Colleges Vegetarian Association (UCVA).

This organisation for college vegetarians was founded at Beijing's Tsinghua University on World Earth Day last year.

"Alongside the rise of animal protectionism...More and more young Chinese are viewing vegetarianism as a healthy, eco-friendly, and trendy lifestyle," the Sixthtone report said.

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Agencies
January 7,2020

Washington, Jan 7: Facebook will ban deepfake videos ahead of the US elections but the new policy will still allow heavily edited clips so long as they are parody or satire, the social media giant said Tuesday.

Deepfake videos are hyper-realistic doctored clips made using artificial intelligence or programs that have been designed to accurately fake real human movements.

In a blog published following a Washington Post report, Facebook said it would begin removing clips that were edited--beyond for clarity and quality--in ways that "aren't apparent to an average person" and could mislead people.

Clips would be removed if they were "the product of artificial intelligence or machine learning that merges, replaces or superimposes content onto a video, making it appear to be authentic," the statement from Facebook vice-president Monika Bickert said.

However, the statement added: "This policy does not extend to content that is parody or satire, or video that has been edited solely to omit or change the order of words."

US media noted the new guidelines would not cover videos such as the 2019 viral clip -- which was not a deepfake -- of House Speaker Nancy Pelosi that appeared to show her slurring her words.

Facebook also gave no indication on the number of people assigned to identify and take down the offending videos, but said videos failing to meet its usual guidelines would be removed, and those flagged clips would be reviewed by teams of third-party fact-checkers -- among them AFP.

The news agency has been paid by the social media giant to fact-check posts across 30 countries and 10 languages as part of a program starting in December 2016, and including more than 60 organisations.

Content labeled "false" is not always removed from newsfeeds but is downgraded so fewer people see it -- alongside a warning explaining why the post is misleading.

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News Network
February 5,2020

Feb 5: Tesla is making Elon Musk a lot richer without paying him a dime.

A blistering stock rally has bolstered the value of CEO Musk's 19% stake in the electric car maker by $16 billion since the start of 2020, to $30 billion.

Tuesday's steep climb in the share price could sweeten Musk's payday under his record-breaking compensation package, which is built on stock options that rely on market value targets. Two milestones have now been achieved that could see Musk unlock options worth $1.8 billion.

The controversial chief executive, who is also the majority owner and CEO of rocket maker SpaceX, recently testified that he did not have a lot of cash as he successfully defended himself in a defamation lawsuit. He previously has taken loans using his Tesla shares as collateral.

Musk does not take a salary, choosing instead a risky options package that envisions the stock market value of Tesla rising to $650 billion over 10 years, a prospect that was derided by some investors when the deal was announced in 2018.

That target now looks less crazy. Shares of Tesla have rallied over 50% since the company posted its second consecutive quarterly profit last Wednesday, which was viewed as a major accomplishment for a company competing against established automotive heavyweights including General Motors Co  and BMW.

Tesla shares have climbed about 400% since early June, helped by the company's better-than-expected financial results and ramped-up production at its new car factory in Shanghai.

On Tuesday, Tesla surged as much as 24% before falling back in the final minutes of the trading session to end the day up 13.7%. That put its market capitalization at $160 billion, almost twice the combined value of Ford Motor and General Motors.

The shares had also rallied on Monday, partly fueled by Panasonic Corp's 6752.T saying its automotive battery venture with Tesla was profitable for the first time.

The options Musk was awarded in 2018 vest incrementally based on targets for Tesla's stock market value and its financial performance. The market capitalization would have to sustainably rise by $50 billion increments over the agreement's 10-year period, with the full package payout reached if the market cap reaches $650 billion, as well as the company's meeting revenue and profit targets.

Musk is on his way to seeing his first two tranches of options vest. He achieved operational targets on revenue and adjusted earnings last year.

The rise in Tesla's market capitalization last month to a target of $100 billion opened the way for Musk's first tranche of options to vest. With Tuesday's surging share price, the market capitalization blew past the second target of $150 billion, opening the way for the second tranche to vest. Tesla's market capitalization must stay at or above each target level for one- and six-month averages for each set of options to vest.

Tesla was valued at about $52 billion when shareholders approved the pay package in March 2018, a time when the company faced a cash crunch, production delays and increasing competition from rivals.

A full payoff for Musk would surpass anything previously granted to U.S. executives, according to Institutional Shareholder Services, a proxy advisor that recommended investors reject the pay package deal at the time.

Musk currently owns about 34 million Tesla shares, and his compensation package would let him buy another 20.3 million shares if all his options tranches vest.

When Tesla unveiled Musk’s package, it said he could in theory reap as much as $55.8 billion if no new shares were issued. However, Tesla has since awarded stock to employees and last year sold $2.7 billion in shares and convertible bonds, diluting the value of the stock.

Musk has transformed Tesla from a niche car maker with production problems into the global leader in electric vehicles, with U.S. and Chinese factories. So far it has stayed ahead of more established rivals including BMW and Volkswagen.

Many investors remain skeptical that Tesla can consistently deliver profit, cash flow and growth. More Wall Street analysts rate Tesla "sell" than "buy," and the company's stock is the most shorted on Wall Street.

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Agencies
June 9,2020

New Zealand's research institute in Antarctica is scaling back the number of projects planned for the upcoming season, in an effort to keep the continent free of coronavirus, it was reported on Tuesday.

The government agency, Antarctica New Zealand, told the BBC on Tuesday that it was dropping 23 of the 36 research projects.

Only long-term science monitoring, essential operational activity and planned maintenance will go ahead.

The upcoming research season runs from October to March.

"As COVID-19 sweeps the planet, only one continent remains untouched and (we) are focused on keeping it that way," Antarctica New Zealand told the BBC.

The organisation's chief executive Sarah Williamson said the travel limits and a strict managed isolation plan were the key factors for keeping Scott Base - New Zealand's research facility - virus free.

"Antarctica New Zealand is committed to maintaining and enhancing the quality of New Zealand's Antarctic scientific research. However, current circumstances dictate that our ability to support science is extremely limited this season" she said.

Earlier in April, Australia announced that it would scale back its activity in the 2020-21 summer season.

This included decreasing operational capacity and delaying work on some major projects.

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