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 Is Expanding Its Effort to Launch Weapons From Hypersonic Missiles — A new wind tunnel is intended to further develop the technology, which pushes the bounds of physics.
- Chinese Stimulus Goes Green — The contours of China’s countercyclical policy are starting to become clear—and include significantly more financial firepower for clean power and efficiency.
- NetEase Music Unit Launches Scaled-Back, $452 Million Hong Kong IPO — Cloud Village’s listing comes at a challenging time for China’s technology industry.
- Elon Musk Says Tesla’s Model S Plaid to Launch in China Next Year — High-end sedan, priced starting around $130,000, should come to China probably around March, Tesla CEO says.
The Financial Times
- China intensifies crackdown on celebrity culture and fans — Beijing’s new rules target online fan groups that cause ‘chaos’ and promote bad values.
- China eases pressure on property sector but reform remains priority — Beijing’s policy loosening to prevent collapse of industry does not represent a retreat, say analysts.
- Chinese parents find new ways to give their children an edge — Beijing’s crackdown on tutoring has not stopped families wanting the best for their kids.
- Chinese doctors raise questions over Beijing’s Covid contact tracing policy — Claim that strategy risks stoking public panic marks rare criticism of Communist government.
The New York Times
- Why Peng Shuai Frustrates China’s Propaganda Machine — Accustomed to forcing messages on audiences at home and abroad, its propaganda machine hasn’t learned how to craft a narrative that stands up to scrutiny.
Caixin
- In Depth: Burned by Developers, China’s Trust Industry Pulls Back From Property — The $3 trillion sector is scaling back its immense investments in real estate as it scrambles for cash.
- Baidu and State-Owned Citic Bank Fined Combined 1 Million Yuan for Antitrust Violations — Failing to report to antimonopoly authority before setting up a banking joint venture in 2017 cost the lender and search engine giant each 500,000 yuan.
- China’s Biggest AI Firm Says It Won’t Face Cybersecurity Review Before Hong Kong IPO — SenseTime says new draft rules proposed by the cyberspace regulator will not have a material and adverse effect on its business operations.
South China Morning Post
- Russia’s Vladimir Putin will be in Beijing for 2022 Winter Olympics — Russian President Vladimir Putin has accepted an invitation to attend the Beijing Winter Olympics in February.
- Weibo’s plan to go public in Hong Kong shrouded in uncertainty by Beijing’s tough new data regime — Weibo’s plan to sell shares in Hong Kong is clouded by uncertainties stemming from Beijing’s tough new data regulations, says the Chinese social media platform with 250 million daily active users in its listing prospectus, putting a spotlight on the national security issues now facing tech companies.
- Hong Kong elections: more than half of voters unable to name candidates for coming Legco poll, survey shows — Lowest voter enthusiasm recorded since 1991, with only 52 per cent willing to show up compared with more than 80 per cent logged in four most recent races.
Bloomberg
- Xiaomi’s Growth Withers After Chip Shortages, Rivals Hurt Sales — Xiaomi Corp.’s quarterly sales growth slowed markedly after the Chinese smartphone giant weathered a resurgent Apple Inc. and supply chain mayhem choked off the flow of vital components.
- China Targets Corporate Backers of Taiwan’s Ruling Party — China said it will punish businesses and political donors with links to individuals supporting Taiwan independence after it fined Taiwanese conglomerate Far Eastern Group.
- China Slows Its Progress on U.S. Trade Deal Purchases Amid Talks — China pulled back on its already halting progress toward meeting its U.S. trade deal targets, slowing purchases of all types of goods covered by the agreement despite calls from the Biden administration for Beijing to adhere to its commitments.
- Alibaba Slides Toward Record Low While Investors Bet on JD.com — Alibaba Group Holding Ltd.’s October rally has given way to a renewed slump that has the stock heading for a record low while technology rival JD.com Inc. is extending its recovery and winning favor with analysts.
Reuters
- Taiwan says it will respect Honduras vote outcome, warns again on China — Poll leader Xiomara Castro, of the leftist opposition Libre Party, says she plans to open relations with China if elected, giving Beijing another foothold in what is traditionally the U.S. back yard.
- Former Hong Kong independence group leader gets 43 months under security law — Prosecutor Ivan Cheung has said the defendant acted as an administrator for the Facebook pages of the U.S. branch of Studentlocalism and an organisation called the Initiative Independence Party.
Other Publications
- The Atlantic: The Real Threat to Academic Freedom — Chinese state influence and misguided responses to it expose the risks to free inquiry.
- Nikkei Asia: China’s top U.S. hands have been sidelined in Xi’s bid for control — Jack Ma and Wang Qishan were big names in Tsinghua University back channel.
- Foreign Affairs: Xi’s Confidence Game — Beijing’s Actions Show Determination, not Insecurity.
