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.
Paid subscribers automatically have this list emailed directly to their inboxes every day by 10 a.m. EST. Subscribe here.
The Wall Street Journal
- At Controls of Crashed China Eastern Jet: One of Country’s First Commercial Pilots — First officer Zhang Zhengping was on the verge of retirement, had previously trained flight’s captain, Yang Hongda.
- A Black Box From China Eastern Airlines Plane Crash Is Found — Authorities say the device appears to be a cockpit voice recorder and sent it to Beijing for analysis.
- U.S. Renews Tariff Exemptions for Some Chinese Imports — Biden administration renews tariff waivers for 352 items after previous exemptions expired.
- Alibaba’s Russia Venture Puts Chinese E-Commerce Giant in Awkward Spot — Three partners in fast-growing AliExpress Russia operation.
- China’s Stock Market Weathers Heavy Foreign Outflows — The outflow this month, via Stock Connect, is on pace to be the second-largest monthly drawdown since the program began in 2014.
- China’s Ailing Developers Delay Results as Audits Drag On — Property companies, including Evergrande and Kaisa, say they will miss end-March deadline.
The Financial Times
- Beijing closes in on security pact that will allow Chinese troops in Solomon Islands — Leaked draft raises prospect of People’s Liberation Army building naval base in South Pacific.
- Geely questions future in Russia despite opening for China’s carmakers — Company weighs reputational risk of expanding against opportunity for sales as rivals withdraw.
- Russia’s invasion of Ukraine sparks fierce debate in China — Experts and the public argue over the risks and benefits of Beijing’s backing for Moscow.
- Tencent’s revenue growth hit by China’s regulatory crackdown — Slowdown in online advertising also hurts third-quarter results at Chinese tech group.
- Chinese ADR delisting threat looms over ETFs — More than 95% of one Invesco ETF is in Chinese ADRs and an iShares ETF is the largest holder of five facing delisting.
The New York Times
- China’s Push to Isolate Taiwan Demands U.S. Action, Report Says — Chinese officials are ramping up a campaign to force United Nations agencies, governments, companies and even schools to say Taiwan is a part of China.
- China Eastern Pilots Were Experienced, Adding to Mystery of Crash — Two industry veterans were at the controls of Flight 5735, which took a sudden dive in good weather. At the crash site in southern China, search crews found wing and engine parts on Thursday.
- Enes Kanter Freedom and the Consequences of Speaking Out — Enes Kanter Freedom has condemned human rights abuses in Turkey for years. Now he claims the N.B.A. is blackballing him as he focuses on abuses in China.
- Sinovac Booster Gives Elderly Stronger Protection Against Omicron, Study Finds — Given the surge of Omicron cases in Asia, the new research lends urgency to vaccination campaigns in China and Hong Kong.
- Biden Administration Will Reinstate Some Tariff Exclusions on Chinese Imports — The move comes after months of complaints by business groups that the Biden administration was not doing enough to alleviate financial pain from the Trump trade war.
- In Asia, Covid-19 Rules Fall Away, With a Big Caveat — Daily life in the region was once regulated by a snarl of virus restrictions. That is changing fast — except in mainland China, which is still rolling out lockdowns.
Caixin
- Shanghai Financial Firms Ask Staff to Sleep in Office Amid Local Covid Flare-Up — Authorities issue stay-at-home orders, launch mass testing in the city’s busy financial district to contain its latest Covid flare-up.
- Sunac China Seeks Two-Year Extension on $627.85 Million Bond — Billionaire Chairman Sun Hongbin offers unlimited joint liability guarantee in return, but some bondholders express disappointment.
- Fosun Reports $157 Million of China mRNA Vaccine Sales in 2021 — BioNTech partner markets the advanced-tech inoculation in Hong Kong, Macao and Taiwan as regulators haven’t cleared the shots for the mainland.
South China Morning Post
- China welcomes US tariff exemptions, but ‘symbolic move’ fails to tackle fundamental trade issues — China has welcomed Washington’s decision to reinstate tariff exemptions on more than 350 Chinese goods, while calling for all Trump-era duties to be lifted “as soon as possible”.
- Tencent plays down talks of break-up despite regulatory risks, slowest ever quarterly revenue growth — As executives from Tencent Holdings fielded questions from investors and analysts in its earnings call on Wednesday evening, one query appeared to have hit a nerve.
- China-Australia relations: Ukraine war clouds efforts to repair trade ties after PM Morrison warns Beijing of sanctions — The Ukraine war and upcoming federal elections in Australia are adding a new layer of complexity to a protracted trade dispute between Canberra and Beijing, with potentially far-reaching consequences for Australian businesses affected by trade bans.
Nikkei Asia
- Analysis: Xi’s pro-Russia stance rooted in fear of Gorbachev model — But if China’s economy suffers from bond with Moscow, a power struggle awaits.
- U.S. chipmakers push for CHIPS Act funding to close gap with Asia — Intel chief grilled on China business at Senate hearing.
- China ramps up arms exports to Pakistan, aiming to squeeze India — Beijing and Islamabad grow closer with eye on mutual rival.
Bloomberg
- China Envoy Says Xi-Putin Friendship Actually Does Have a Limit — Xi Jinping and Vladimir Putin declared a “no limits” friendship between China and Russia before the Olympics began. Two months and a war later, Beijing’s envoy to the U.S. has added an important caveat.
- China Is Quietly Taking Cheap Russian Crude as India Buys More — China’s oil refiners are discreetly purchasing cheap Russian crude as the nation’s supply continues to seep into the market.
- China’s Xi Leaves Zelenskiy Out of Ukraine Diplomatic Push — Chinese President Xi Jinping has held a flurry of talks with state leaders, including Vladimir Putin, since Russia’s invasion in Ukraine. But there’s one big omission from his diplomatic outreach: Volodymyr Zelenskiy.
Reuters
- Solomon Islands considers security cooperation with China – official — The Solomon Islands has signed a policing deal with China and will send a proposal for a broader security agreement covering the military to its cabinet for consideration, an official of the Pacific island nation’s government said on Thursday.
- China’s foreign minister visits Afghanistan — Chinese Foreign Minister Wang Yi visited Kabul on Thursday to meet his Afghan counterpart, a spokesman for Afghanistan’s foreign ministry said, the highest-level visit by a Chinese official since the Taliban took power last year.
- Taiwan says ‘reunification law’ would put too much pressure on China — A senior Taiwanese official said on Thursday he did not see China adopting a “reunification law” as it would put too much pressure on Beijing to set a timetable for bringing the island under its control, which could severely raise tensions.
Other Publications
- Foreign Policy: Chinese State Media Is Pushing Pro-Russian Misinformation Worldwide — Ad buys show a pattern of targeting cheaper markets.
- Politico: Chip, business lobbies descend on China bill — Top executives from the world’s leading chipmakers are scattering across Washington beginning today as the industry presses lawmakers to shepherd tens of billions in funding for the industry across the finish line.
- Quartz: Russian oil is the “soft underbelly” of China’s energy security — For years, China has sought to diversify its oil imports away from the Middle East as insurance against supply disruptions, geopolitical risks, and coercion by exporter countries. Russia, along with Central Asia seemed like a good hedge.
