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
- It’s China vs. Walmart, Latest Western Brand Entangled in Human Rights Dispute — Beijing has attacked the retailer over Xinjiang, after similar moves against Intel, Adidas and H&M.
- China and Russia Military Cooperation Raises Prospect of New Challenge to American Power — Joint military exercises and technology sharing are seen as tools in to limit U.S. might abroad.
- Tesla Opens Showroom in China’s Xinjiang, Region at Center of U.S. Genocide Allegations — Maker of electric cars risks wading into human-rights dispute that has entangled Western companies.
- U.S. on Sidelines as China and Other Asia-Pacific Nations Launch Trade Pact — The Regional Comprehensive Economic Partnership will eventually eliminate more than 90% of tariffs on commerce among 15 member countries.
- Beijing Fell Short on Trade Deal Promises, Creating Dilemma for Biden — China missed targets for buying U.S. goods, but retaliating could come at a cost to American companies and consumers.
- Chinese Companies Listed at Home Surge While Crackdowns Clobber Those Abroad — The total value of onshore Chinese stocks rose about 20% last year, compared with a 42% decline for Chinese stocks listed in the U.S.
- China Is Haunted by Its One-Child Policy as It Tries to Encourage Couples to Conceive — The country expands fertility services as decades of birth restrictions mean fewer women of childbearing age and a younger generation less eager to start a family.
- Chip Makers Contend for Talent as Industry Faces Labor Shortage — Limited supply of qualified workers poses challenge as facilities are built to bolster global supply of semiconductors.
The Financial Times
- Hong Kong free press faces collapse as second news site announces closure — Citizen News says decision triggered by arrest of journalists at Stand News.
- Evergrande shares suspended after report it was told to destroy buildings — Chinese media outlet says authorities demanded indebted property company demolish residential complex.
- South Korean chip companies step up US lobbying efforts — Semiconductor manufacturers hope to secure export licences to supply blacklisted Chinese companies.
- Chinese authorities pledge to resolve food shortages in locked-down Xi’an — Residents in city of 13m complain of difficulty obtaining essentials under strengthened Covid restrictions.
- Huawei revenues fall 30% in 2021 but company is cautiously optimistic — Chinese technology group says financial challenges have eased slightly since US imposed sanctions.
The New York Times
- How Beijing Has Muted Hong Kong’s Independent Media — Citizen News, a small but aggressive online publication, is the latest outlet to fold amid relentless pressure from the authorities.
- China Evergrande Suspends Trading Shares in Hong Kong — The world’s most indebted property developer provided no details on the suspension, but it suggested an announcement “containing inside information” would come soon.
- What Default? With Confetti and Fanfare, Evergrande Says It’s Ready to Build. — Weeks after signaling it could no longer go on, the troubled Chinese property developer has pledged to start paying its workers and completing projects again. Buyers are skeptical.
- China Moves to Overhaul Protections for Women’s Rights, Sort Of — The proposed revisions to a women’s rights law would be the first major changes in nearly 20 years. But many women are skeptical that real progress will follow.
- Chinese Police Hunt Overseas Critics With Advanced Tech — Authorities in China have turned to sophisticated investigative software to track and silence obscure critics on overseas social media. Their targets include college students and non-Chinese nationals.
Caixin
- Cover Story: A Chinese Glass Tycoon’s Dream to Build a World-Class University — Billionaire entrepreneur Cao, whose glass factory in Ohio was featured in the Obama-backed Oscar-winning documentary “American Factory,” is devoted to education and plans to build a university with the goal of cultivating applied research and technical talent to bolster China’s self-sufficiency and address the shortage of skilled manufacturing managers.
- China Moves to Bar Celebrity Livestreamers From Pitching Financial Products — Draft guidelines issued by seven ministries would require online marketers to have professional qualifications and be employed by financial institutions.
- Asian Trade Pact Covering One-Third of Global Economy Takes Effect — The Regional Comprehensive Economic Partnership goes into force for China and the nine other countries that were first to ratify the agreement.
South China Morning Post
- Evergrande creditors have more cause for concern amid reports some of its Hainan developments need to be demolished — Creditors of indebted China Evergrande Group have more cause for concern after local media reported that the giant developer has been ordered to tear down some blocks at one of its mega projects in Hainan Province.
- Can Huawei reinvent itself as a successful car brand with its smartphone business still reeling from US trade sanctions? — At its Smart Life showroom in downtown Shenzhen, Huawei Technologies Co displays everything from tablets to vacuum cleaners as it seeks to woo consumers in China’s southern tech hub.
- Hong Kong online portal Citizen News to shut down on Tuesday — Abrupt announcement comes on the heels of closure of another news website, Stand News, last Wednesday.
Bloomberg
- Indonesia Coal Export Ban May Have Low Impact on Top Buyer China — A ban on coal exports from Indonesia may have a limited impact on top buyer China after the country boosted domestic output to stave off shortages of the fuel last year.
- Third Hong Kong News Site Folds as Pro-Beijing Council Installed — A third Hong Kong news outlet announced it would shut as the city installed a legislature vetted for loyalty to the Communist Party, in a stark illustration of Beijing’s success in silencing the local opposition.
- Evergrande Dials Back Payment Plan for Overdue Wealth Products — China Evergrande Group dialed back payment plans on billions of dollars of overdue wealth management products as its liquidity crisis showed little sign of easing.
Reuters
- Hong Kong’s Citizen News says closure triggered by Stand News collapse — Hong Kong independent online publication Citizen News said on Monday its decision to shut down was triggered by the closure of a pro-democracy media outlet last week following a police raid and seven arrests.
- Indonesia bans coal exports in January on domestic power worries — The Southeast Asian country is the world’s biggest exporter of thermal coal, exporting around 400 million tonnes in 2020. Its biggest customers are China, India, Japan and South Korea.
Other Publications
- The Washington Post: China harvests masses of data on Western targets, documents show — China is turning a major part of its internal Internet-data surveillance network outward, mining Western social media, including Facebook and Twitter, to equip its government agencies, military and police with information on foreign targets, according to a Washington Post review of hundreds of Chinese bidding documents, contracts and company filings.
- Nikkei Asia: Battery costs rise as lithium demand outstrips supply — Carmakers scramble for raw materials in a bid to win global electric vehicle race.
