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 to Conclude Didi Cybersecurity Probe, Lift Ban on New Users — Chinese authorities are also preparing to allow Didi’s apps back on domestic app stores as early as this week.
- Chinese Influencer’s Ice-Cream Pitch Inadvertently Introduces Fans to Tiananmen Square Massacre — Many of Li Jiaqi’s 170 million followers were watching when his live-streamed video was cut off after he displayed a dessert that looked like a tank.
- U.S. Urged to Step Up in Pacific After China Visit; ‘It’s Not Only About Having McDonald’s in Fiji’ — Fijians warn the U.S. is at risk of losing influence as Beijing seeks closer ties in the region.
- China High-Speed Train Crash Leaves One Dead, Eight Injured — The train derailed in Guizhou province after days of heavy rain in the mountainous region.
- Hong Kong Police Quash Vigil to Mark Tiananmen Square Massacre — Hundreds of officers block off park where mass candlelight vigil was once held annually.
- Elliott Management Sues London Metal Exchange Over Nickel Crisis — Exchange’s parent says claim by U.S. investment firm is without merit.
The Financial Times
- Australia accuses China of intercepting surveillance plane — Canberra says action occurred over South China Sea days after Anthony Albanese elected PM.
- Hong Kong authorities snuff out Tiananmen Square commemorations — Police arrest six after closing park that traditionally held biggest annual vigil of massacre.
- China’s international school sector threatened by Covid and crackdown — New rules and a teacher exodus hurt bilingual schools offering foreign-style education.
- Opinion: Rumours that Xi Jinping is losing his grip on power are greatly exaggerated — Evidence is thin that past episodes of factional strife in China’s communist party are repeating themselves.
The New York Times
- Beijing Relaxes Covid Measures as Outbreak Fears Linger — The Chinese capital relaxed pandemic rules at midnight on Monday, including a ban on dining in, after a partial lockdown that lasted more than a month.
- On the Anniversary of Tiananmen Massacre, Victims Remembered — In Taiwan and elsewhere, people met on Saturday to remember those killed in China in 1989 — and the freedoms lost in Hong Kong, where such vigils are now unthinkable.
Caixin
- Cover Story: Balancing China’s Development With Need for Food Production — Economic growth and accelerating urbanization have driven up demand for commercial and industrial development in many parts of the country, threatening farmland.
- Beijing Drops More Covid Rules as Outbreak Declared ‘Under Control’ — Beijing relaxed Covid rules for most of the city’s districts on Monday, allowing restaurants there to restart dine-in services.
- Train Derailment in Southwest China Kills Driver, Injures Eight — The accident occurred at around 10:30 a.m. near Rongjiang Railway Station, when train D2809 hit a mudslide, causing the seventh and eighth cars to derail.
South China Morning Post
- With China’s big political reshuffle looming, new No 2 propaganda chief is appointed from party academy — Li Shulei made an official appearance as executive deputy chief of the party’s propaganda department on Sunday, according to Ministry of Ecology and Environment.
- Tech war: Chinese database software vendor shrugs off sanctions risk on using open-source code from Oracle’s MySQL system — Concerns raised about Chinese-developed GreatDB reflect growing geopolitical tensions and fresh calls on the mainland to step up replacement of foreign technologies with home-grown products.
- LME faces Elliott Management’s US$456 million lawsuit for suspending nickel futures trading, cancelling trades — The London Metals Exchange has been sued by two affiliates of American hedge fund Elliott Management for its suspension of nickel futures trading.
Nikkei Asia
- China makes final push for space station, eyeing Russian expertise — Crewed mission sent on board with construction slated to wrap up in 2022.
- Taiwan carries the torch of Tiananmen as Hong Kong is silenced — Hundreds in Taipei mark the bloody incident 33 years ago.
Bloomberg
- Engineer Who Fled US Charges of Stealing Chip Technology Now Thrives in China — ASML has pressed IP theft allegations against two firms created by ‘flagbearer’ for China’s semiconductor industry.
- Ant Unveils Singapore Digital Bank in Southeast Asian Push — Billionaire Jack Ma’s Ant Group Co. launched its digital bank in Singapore, as China’s largest online financial platform branches out of its home market amid regulatory headwinds.
- China’s Renewable Energy Fleet Is Growing Too Fast for Its Grid — Curtailment, the scourge of wind turbines and solar panels, is rearing its head in China again.
- ‘Fake’ Aluminum Stocks Put Perils of China’s Commodities Funding in Spotlight – Metals markets are fixated on an incident in the southern province of Guangdong, in which several traders claim they were duped into providing credit against fictitious quantities of aluminum.
Reuters
- Exclusive: Biden to waive tariffs for 24 months on solar panels hit by probe — President Joe Biden will declare a 24-month tariff exemption on Monday for solar panels from four Southeast Asian nations after an investigation froze imports and stalled projects in the United States, sources familiar with the matter told Reuters.
- Analysis: China’s economic headwinds chill its wary new homebuyers — The growing caution among young buyers in China’s battered property market, which accounts for a quarter of gross domestic product, presents a major challenge for policymakers in Beijing
- China’s Ant Group launches digital bank ANEXT in Singapore — The move marks one of Ant’s biggest overseas pushes since its $37 billion initial public offering (IPO) was derailed by Chinese regulators in late 2020.
