Good Morning. Welcome to The Wire’s daily news roundup. Each day, our staff gathers the top China business, finance, and economics headlines from a selection of the world’s leading news organizations.
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The Wall Street Journal
- China’s Xi Warns Against Confrontation in Veiled Message to Biden — The comments come as the new U.S. administration prepares to rally allies to challenge Beijing on a range of issues.
- U.S. Mounts a Charge to Take On China, the King of Electric-Vehicle Batteries — Sila Nanotechnologies, a Silicon Valley startup, is among the latest to attract Wall Street backing as supply-chain investors see enthusiasm for electric vehicles.
- Xi Jinping Wows Them at Davos — By the Editorial Board. China’s President sweet-talks liberal leaders as he threatens Taiwan.
- Biden’s Opening Salvo on Beijing — His administration’s early moves were aggressive, but will it sustain the pressure?
The Financial Times
- PBoC/China stocks: damp course — Central bank’s withdrawal of £12bn from banking system may matter more as a declaration of intent.
- Chinese stocks fall as central bank adviser warns of asset bubble — PBoC moves to tighten liquidity following country’s strong economic recovery from Covid-19.
- Chinese city suffers food shortages during Covid-19 lockdown — Officials in Tonghua battle rare public outcry over late deliveries of daily necessities.
- China pours money into green Belt and Road projects — Renewables account for half of Beijing’s energy investments in 2020 but coal share also grows.
- How China’s delivery apps are putting riders at risk — Computer-dictated deadlines and fines for delays are pushing couriers to take chances on the road.
- Human rights come under pressure from digital controls — Use of high-end digital surveillance technology goes far beyond China’s Xinjiang province.
- Beijing turns the screws on China’s property sector — Real estate stoked Covid recovery but ever-increasing prices are ‘politically not acceptable’.
The New York Times
- Chinese and Indian Troops Clash at Their Disputed Border — Indian officials played down the events, which come as Beijing continues to encroach on disputed Himalayan areas.
- China Wanted to Show Off Its Vaccines. It’s Backfiring. — Delays, inconsistent data, spotty disclosures and the country’s attacks on Western rivals have marred its ambitious effort to portray itself as a leader in global health.
Caixin
- India Cements Ban on TikTok, Other Chinese Apps — Action makes block on 59 Chinese apps permanent after operators failed to adequately address regulator’s privacy and national security concerns.
- Impressive New York Trading Debut for Chinese E-Cigarette Maker RLX But Challenges Lie Ahead — Shares of e-cigarette maker RLX Technology Inc soared 146% on its first trading day in New York last Friday, as the company cashed in on investor enthusiasm despite heightened scrutiny of listings by Chinese companies in the U.S. and regulatory clampdowns in its home market.
- Self-Driving Tech Startup Uisee Closes $155 Million Funding Round — Lesser-known Chinese autonomous vehicle startup Uisee has raised more than 1 billion yuan ($155 million) in a new funding round, reflecting bullish sentiment over prospects for an industry that will be key in China’s efforts to build a smart transportation system.
South China Morning Post
- Huawei’s exit from premium smartphone market ‘a last resort’ amid US sanctions, analysts say — Huawei Technologies Co is not expected to divest its premium smartphone business except as “a last resort”, according to analysts, a day after the Chinese telecommunications equipment giant denied that it plans to sell its flagship P and Mate brands amid stifling US trade sanctions.
- Kuaishou has changed the lives of millions in China, but will the short video app prove a good investment? — 36-year old Lin Yanqiong left her home in a small village in China’s central Hubei province to become a migrant worker at the age of 15, moving across the country to take a variety of jobs, including a nurse, waitress and masseuse.
- China-Australia relations: wheat shipments to grain-hungry China surge as total 2020 exports just shy of record high — Despite warnings that Chinese authorities might block Australian wheat amid an escalating political row, wheat exports to China surged last month, underscoring a year in which overall trade between the countries approached a record high.
Bloomberg
- Didi Is Said Close to Raising $1.5 Billion for Trucking Unit — Didi Chuxing Technology Co. is close to finalizing a $1.5 billion round of funding for its on-demand trucking unit from investors including Temasek Holdings Pte, surpassing its fundraising target as investors count on a Chinese economic recovery to fuel shipping.
- China Asset-Bubble Warning Threatens Stock Frenzy in Hong Kong — A chill swept through Chinese financial markets after the central bank withdrew cash from the banking system and an official warned about asset bubbles.
- Covid-Battered Hubei Sets Highest GDP Target of China’s Regions — China’s provinces are targeting economic growth of at least 6% this year, with Hubei, the center of the coronavirus outbreak last year, expecting to hit double digits.
Reuters
- Analysis: Chinese majors to struggle to extend shale gas boom beyond 2025 — Chinese oil majors will struggle to extend fast growth in shale gas production beyond 2025, as complex geology and failure to draw in more investors make it expensive to develop the unconventional resource.
- MSCI to remove five Chinese firms from global index based on Trump order — MSCI Inc said it will remove five Chinese companies from its flagship global equity index as of the end of Jan. 27 in the absence of an update on a Trump administration order banning Americans from investing in certain Chinese companies.
- U.S.-China investments dwarf official figures: study — Total investments between the United States and China are much bigger than official figures reflect, a report released on Tuesday found, underscoring the challenge facing U.S. President Joe Biden’s foreign policy team at a cold point in relations between the two countries.
Other Publications
- Axios: Biden sets his sights on China — The new administration’s first few moves and statements on China suggest that President Biden may continue some of the Trump era’s most assertive policies.
- The Diplomat: China Consolidates Its Commercial Foothold in Djibouti — China’s presence in Africa’s smallest country is far more extensive than just a military base.