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
- The Tiny Loophole That Understates the Trade Deficit With China — Official U.S. statistics fail to capture the surging imports of packages that are exempt from tariffs.
- China Launches Third Aircraft Carrier, Advancing Naval Ambitions — The Fujian, named for the Chinese province closest to Taiwan, is China’s first indigenously designed and built aircraft carrier.
- In One Chinese City, Protesters Find Themselves Thwarted by a Red Health Code — Experience of aggrieved bank customers prompts accusations that authorities used Covid health codes for social control.
The Financial Times
- VW faces union and shareholder calls to examine China human rights allegations — Unusual intervention by IG Metall and German state of Lower Saxony increases scrutiny of carmaker.
- China launches new aircraft carrier in bid to catch up with US capability — Fujian is the PLA’s most advanced vessel and the first to be entirely designed and built domestically.
- China turns Winter Olympic villages into Covid quarantine camps — Facilities used to house foreign athletes during February Games converted into isolation centres.
The New York Times
- China Launches Third Aircraft Carrier in Major Milestone for Xi Jinping — The vessel, named Fujian after the Chinese province that sits across from Taiwan, is China’s most modern.
Caixin
- In Depth: New Solar Cell Materials Could Brighten Profit Prospects — One Day — Companies under pressure from shrinking subsidies and increasing competition are throwing money at technology which could eventually boost the panels’ efficiency.
- Joincare Pharmaceutical Plans Share Sale in Switzerland — Drugmaker brings to nine the number of Chinese companies raising funds via global depositary receipts offered in Europe.
- China Vows More Support for Private Investment — State Council and NDRC issue pledges after private sector investment slowed and shrank relative to total investment.
South China Morning Post
- Why is China’s inflation rate low compared to the US, Europe and Britain? — Global inflation is soaring, reaching a 40-year high in the US, thanks to sky-high food and energy prices that have been exacerbated by the war in Ukraine. Why is it a different story in China?
- China launches Fujian, PLA Navy’s 3rd aircraft carrier — The Type 003 is China’s first carrier to use an advanced electromagnetic catapult system to launch planes from its deck.
- Hong Kong protests: provision deeming zip ties ‘fit for unlawful purposes’ can be interpreted broadly, prosecutor argues in top court — People can be caught for carrying pen to forge signatures, senior prosecutor argues.
Nikkei Asia
- State-owned Poly emerges as China property sales leader — Government controlled builders add further to land banks.
- China launches ‘Fujian,’ its most advanced aircraft carrier — Third flattop boasts electromagnetic catapult technology for plane takeoffs.
- TSMC says it will make ultra-advanced 2nm chips by 2025 — Taiwanese titan joins Samsung and Intel in race for latest semiconductor tech.
Bloomberg
- Syngenta Said to Weigh $10 Billion Shanghai IPO by Year-End — Syngenta Group is considering a plan to launch its mega initial public offering in Shanghai before the end of this year, according to people familiar with the matter, paving the way for one of the world’s biggest listings in 2022.
- Biden to Launch G-7 Infrastructure Push to Counter China — President Joe Biden will launch a global infrastructure initiative to counter China’s international ambitions, particularly in the Indo-Pacific, National Security Advisor Jake Sullivan said Thursday.
- Xi Claims Victory in Anti-Graft Campaign Targeting China’s Banks — China’s Politburo declared its anti-corruption dragnet of financial institutions a success, in a potential sign of relief for the $59 trillion sector.
Reuters
- Exclusive: China’s central bank accepts Ant’s application for financial holding company — China’s central bank has accepted Ant Group’s application to set up a financial holding company, three people with knowledge of the matter said, a key step in finishing a year-long revamp of Jack Ma’s fintech business and reviving its stock market debut.
- Exclusive: China firms in advanced talks with Qatar for gas field stakes, LNG offtake — It would be the first such partnership between the two nations, among the world’s top LNG consumers and producers, as the Middle Eastern energy exporter shifts to expand its Asian client base at. Global energy corporations used to be the main investors in Qatar’s gas industry.
The Economist
- China’s elites think feminism is a foreign plot — Party bosses blame a brutal assault on gangsters, rather than endemic sexism.
- How America tries to grapple with China while confronting Russia — Travels with the defence secretary in quest of stronger ties.
- China’s diplomats are trying to broker peace in foreign conflicts — Just don’t expect them to propose solutions.
- America and China try to prevent military mishaps and miscalculations — The original cold war holds some lessons.
- China ponders the humans behind “virtual idols” — Should they have more rights?
- Germany is recalibrating its close economic ties with China — But only very cautiously.
