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
- U.S. Readies New Asia-Pacific Economic Strategy to Counter China — Biden administration aims to work more closely with Asian nations on trade issues, but some say effort won’t substitute for previous pact the U.S. abandoned.
- On China Television, Corrupt Officials, Corporate Villains Are Bad Guys — Documentary series on state TV that features public confessions signals more pain for private companies.
- China’s Slowdown to Limit Global Growth but Not Undermine World Economy — Lukewarm demand from China poses risks to commodity producers, though it could ease inflationary pressure.
- ‘Fight Club’ No Longer Ends With a Whimper in China Following Explosion Over Censorship — Chinese video platform quietly restores 1999 cult film’s conclusion, but 2005’s ‘Lord of War’ still comes with new, harmonious ending.
Olympics Coverage
- Peng Shuai Meets With International Olympic Officials in Beijing — The tennis player met with IOC President Thomas Bach in-person for the first time since a sexual-assault allegation against a Chinese official appeared on her social-media account.
- Olympic Torchbearer Evokes Memories of 2008 for Fellow Uyghur — Fourteen years apart, two from Xinjiang carried the flame. One is now in the U.S., with his father in prison.
- A Uyghur Skier Became the Face of China’s Winter Olympics. The Next Day, She Vanished From the Spotlight. — Chinese athlete and Olympic torch carrier Dinigeer Yilamujiang finished 43rd in her Olympic debut.
- Beijing Winter Olympics Opening Day Draws About 16 Million U.S. Viewers, 43% Lower Than in 2018 — Preliminary figures from NBC reflect declining audience for the Games over recent Olympic cycles.
The Financial Times
- China and Russia’s hypersonic weaponry threatens US early warning system — The American view that it will not use space for offensive military applications leaves us vulnerable to those who do not share it.
- China companies try to list in US in test for regulators after clampdown — Authorities on both sides of the Pacific have placed tough restrictions on Chinese IPOs.
- Rupert Murdoch’s News Corp hit by cyber attack — Wall Street Journal owner suspects incident was intended to benefit the interests of China.
Olympics Coverage
- Peng Shuai meets Olympics chief and denies alleging sexual assault — Tennis star largely disappeared from public view after making accusations against senior Chinese official.
- Beijing Winter Olympics underway with subdued opening ceremony — Games promise to be different from 2008 event that announced China on international stage.
- NBC battles China controversy and fickle viewers in bid for Olympic glory — Network paid billions for exclusive US rights but faces declining audience interest.
The New York Times
- Taiwan and China Are Both Closely Watching Ukraine Crisis — Taiwan knows what it’s like to have an overbearing neighbor. China wonders how forcefully Western powers might react to a Russian invasion.
- Li Wenliang, Doctor Who Warned of Covid, Is Still Mourned in China — Social media users flocked to an online profile for Dr. Li Wenliang, who provided an early warning about the coronavirus in 2019.
- A Side-Effect of China’s Strict Virus Policy: Abandoned Fruit — The closure of Chinese land borders and the tightened screening of goods have driven Southeast Asian fruit farmers into debt. Many have had to abandon their harvest.
Olympics Coverage
- Peng Shuai, the Chinese tennis player, meets the I.O.C. leader in Beijing. — The revelation of the meeting might do little to satisfy critics who question whether Peng has been speaking freely in her sporadic and seemingly highly orchestrated public appearances over the past few weeks.
- Beijing Wanted the Winter Olympics. All It Needed Was Snow. — The environmentally unfriendly secret of winter sports is that many competitions take place on artificial snow. China’s water-scarce capital had to go to enormous lengths to make enough of it.
- What is it Like Inside the Olympic Bubble? Check TikTok. — Olympians’ videos provide glimpses of food, accommodations, Covid tests and the frigid weather in Beijing.
Caixin
- Cover Story: The Turning Point for China’s New-Energy Vehicles — Sales were up 181% from 2020 and exceeded the total of the previous three years. In 2021, NEVs made up 15.7 % of the country’s car market.
- PBOC Accepts First Bid From Private Firm to Set Up Financial Holding Company — Central bank has been reviewing five applications, although Ant Group and Tencent have yet to make their submissions.
- Russia’s Gazprom Hails New 30-Year Gas Deal With China as Sign of Strengthening Ties — The agreement with CNPC will allow the export of up to 10 billion cubic meters of gas per year via a far eastern pipeline.
- Luckin Pays $180 Million to Settle U.S. Fraud Charges — Scandal-wracked coffee chain is working on compliance procedures as part of a relisting plan, a source inside the firm said.
South China Morning Post
- UK regulators sign off on Chinese nuclear reactor design — British regulators have signed off on the design for the first Chinese-designed nuclear reactor proposed to be built in the United Kingdom after a nearly five-year regulatory process.
- Huawei to cut dividend payments to employees after projected revenue slump amid US sanctions — Chinese telecoms giant Huawei Technologies Co will pay a smaller cash dividend to “shareholding employees” for 2021, after projecting a one third loss in revenues due to US trade sanctions, according to a report by local media China Business News.
- Hong Kong to move Covid-19 patients to quarantine camp from Tuesday as caseload nearly doubles in 24 hours — Health authorities report another 614 infections and more than 600 preliminary-positive ones.
Bloomberg
- Bilibili Denies Excessive Work After Death Revives ‘996’ Debate — Bilibili Inc. denied that it overworked an employee who died during the Chinese New Year holiday, reigniting a debate over the culture of prolonged hours that persists within China’s tech companies.
- Hong Kong Braces for Curbs as Cases Double Every Three Days — Hong Kong reported a record number of coronavirus infections, with cases doubling every three days putting pressure on the government to ramp up restrictions as it holds fast to its goal of eliminating the virus.
- U.K. Approves Chinese-Designed Nuclear Reactor Amid Controversy — British regulators approved a Chinese-designed nuclear reactor even as the government questions the involvement of the Asian nation in critical infrastructure projects.
- Australia Opposition Hardens China Stance Before Polls — Australia’s opposition leader Anthony Albanese said the government needs to respond to Beijing in a way that is strong but also diplomatic, toughening his stance on China in the lead up to the 2022 elections.
Reuters
- U.N. chief to China’s leaders: allow ‘credible’ visit by rights envoy — U.N. Secretary-General Antonio Guterres told Chinese leaders on Saturday that he expected authorities to allow U.N. human rights chief Michelle Bachelet to make a “credible visit” to the country, including Xinjiang, the United Nations said.
- WHO chief says discussed collaboration on COVID origins with Chinese premier — Tedros Adhanom Ghebreyesus has previously pressed China to be more forthcoming with data and information related to the origin of the virus.
- China gushes over Su and Gu, but Zhu mocking rolls on — The Chinese public on Monday gushed over teen heroes Su Yiming and Eileen Gu after their much anticipated appearances on the Olympic slopes as a prominent pundit urged the country’s netizens to stop panning foreign-born figure skater Zhu Yi.
Other Publications
- The New Yorker: China’s Provocation at the Olympic Opening Ceremonies — In Beijing, the inclusion of the cross-country skier Dinigeer Yilamujiang, whom China identified as of Uyghur heritage, seemed to carry a double message.
- The Atlantic: Can China Ever Reopen? — Xi Jinping’s first and only priority is political security, making a quick reopening almost untenable.
- Foreign Affairs: Xi’s Big Show — What the Olympics Reveal About China. By Orville Schell
- The Washington Post: China’s Peng Shuai says there was ‘misunderstanding’ over her allegations, announces retirement — In carefully managed interview with French media, she denied accusing a former senior Chinese official of sexual assault.
- Politico: The war on drugs puts a target on China — As the fentanyl death toll ticks up, U.S. legislators slam Beijing’s regulatory loopholes and rue political tensions.
