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
- Women’s Tennis Suspends Events in China Following Allegation Against Government Official — Organization’s chief executive expresses ‘serious doubts’ about the safety of Peng Shuai, the Chinese tennis player at the center of global concern over her well-being.
- China’s Digital Currency Challenge: Winning Hearts and Minds — Policy makers world-wide are watching to see how Beijing goes about replacing cash.
- Macau Casinos Shut High-Roller Rooms Tied to Arrested Operator — Suncity Chairman Alvin Chau resigns, casino shares tumble again.
- Australia Adopts Magnitsky Sanctions Rules — Move brings Australia’s sanctions rules in line with those of the U.S., as the two nations deepen ties.
- China Sets Boeing 737 MAX Directive for Flight Resumption — Regulator instructs airlines on aircraft fixes but doesn’t say when the plane could return to the Chinese skies.
- China Protests ‘Politicization of Sports’ After Suspension of Women’s Tennis — Women’s Tennis Association earlier made good on threats to halt its events in the country amid concerns over the safety of star player Peng Shuai.
The Financial Times
- Has Berlin got a Green light to get tough on Beijing? — ‘Traffic light’ coalition to accelerate Germany’s policy shift on trade and China.
- China’s test of hypersonic weapon raised regional tensions, says US defence chief — Lloyd Austin warns advances highlight why Beijing has become the top challenge for American military.
- World’s first ‘AI casino’ delayed by technical hitches — Artificial intelligence leader SenseTime has run into problems with flagship Singapore project.
- Laos to open Chinese-built railway amid fears of Beijing’s influence — Project in one of Asia’s poorest countries stokes concerns over financial and political risks.
The New York Times
- ‘Where is **?’: Fans in China Elude Censors to Talk About Peng Shuai — She is not the first celebrity to be scrubbed from the internet, but her supporters are finding creative ways to voice their frustration.
- Facebook and Twitter Remove Accounts Connected to China — The social media giants removed a large number of accounts that promoted Covid-19 conspiracy theories and undermined reports of human rights abuses.
- WTA Suspends Tournaments in China Over Treatment of Peng Shuai — Steve Simon said Wednesday that the women’s tennis tour would not stage tournaments in China, including Hong Kong, because he has been unable to communicate with Peng despite repeated attempts.
Caixin
- Chinese Regulator Denies Reports of VIE Listing Ban — China’s securities regulator denied media reports that the watchdog plans to ban companies from going public on overseas stock markets through variable interest entities (VIEs).
- Last Remaining Co-Founder of China Dairy Giant Mengniu Resigns — Management reshuffle sees Niu Gensheng quit posts at the company he co-founded in 1999.
South China Morning Post
- Chinese securities regulator in discussions over VIEs with Hong Kong watchdog, financial firms — As part of the discussions – described by the sources as a series of soft consultations – the China Securities Regulatory Commission (CSRC) has over the past few months met the city’s Securities and Futures Commission as well as leading investment bankers, accountants and lawyers on VIEs.
- China’s carbon trading exchange struggles with unclear policies as it eyes expansion, say analysts — China’s new carbon trading market is riddled with policy ambiguities, say analysts, as it prepares to allow more sectors to participate in the new year.
- Facebook removes Chinese network over fake ‘Swiss biologist’ coronavirus claims — Facebook owner Meta Platforms Inc said on Wednesday it had removed accounts used by an influence operation originating in China that promoted claims of a fake “Swiss biologist” saying the United States was interfering in the search for Covid-19’s origins.
Bloomberg
- Alibaba Shares Are Cheapest Ever as Crackdown Wipes $526 Billion — Alibaba Group Holding Ltd.’s U.S.-listed shares have never been this cheap and yet investors keep bailing.
- NetEase’s Music App Shares Slip in Hong Kong Trading Debut — Shares of the music streaming arm of Chinese gaming giant NetEase Inc. dropped in their trading debut in Hong Kong, following an initial public offering that priced shares at the mid-point of a marketed range.
- Hong Kong Permanent Retirement Outflows Hit Highest Since 2014 — Outflows from Hong Kong’s mandated retirement plan from people leaving the city hit the highest in at least seven years in the three months through September as strict quarantine measures and China’s tightening grip are fueling departures from the financial hub.
- Hong Kong Loses 1,000 Teachers in Year to Crackdown, Covid — Nearly 1,000 teachers have left Hong Kong in the past school year in the wake of a China-drafted national security law and strict Covid-zero policies.
Reuters
- China’s Kaisa struggles for relief from bondholders as default risk looms — Chinese developer Kaisa Group Holdings Ltd is unlikely to win bondholders’ approval to extend the maturity of a $400 million bond due next week, analysts say, heaping more pressure on other indebted peers.
- EU unveils 300 billion euro answer to China’s Belt and Road — The European Commission unveiled on Wednesday a plan to invest 300 billion euros ($340 billion) globally by 2027 in infrastructure, digital and climate projects as a better alternative to China’s Belt and Road Initiative.
Other Publications
- Nikkei Asia: China warms to Taiwan company that donated to Tsai after apology — $74m fines for Far Eastern raised fears of wider crackdowns.
- Associated Press: New US ambassador to New Zealand seeks to work with China — Tom Udall, the new U.S. ambassador to New Zealand, says he wants to find areas of common ground with China in a region where tensions often run high.
