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 Braces for Deadly Covid Wave After Loosening Controls — Country didn’t prepare sufficiently to live with virus, experts say, citing strained hospitals, poor vaccination rates.
- U.S. to Levy Human-Rights Sanctions on Russia, China — Friday’s planned action also set to target Russia for its use of Iranian drones in Ukraine.
- Inflation Slowed in China as Lockdowns Spread — As authorities relax controls, economists expect bumpy reopening to keep inflation low.
- Google Faces Pressure in Hong Kong Over Search Results for National Anthem — Company urged to show China’s national anthem instead of a pro-democracy song.
- Developer Sunac China Offers Up a Dollar-Debt Restructuring Plan — Real-estate giant’s chairman apologizes after the company swung to a net loss equivalent of $5.5 billion last year.
- Video: U.S. vs. China: Can Comac’s C919 Compete With Boeing’s 737? — Beijing hopes the self-built jet could eventually become the main carrier at home.
- Opinion: Can India Capitalize on China’s Manufacturing Woes? — Companies need new sites for factories, but they may be deterred by New Delhi’s red tape and tariffs.
The Financial Times
- Asian stocks tick higher as China switches focus to growth — Beijing’s easing of Covid restrictions boosts hopes of economy reopening early next year.
- Huawei/ZTE: poor US-Saudi relations offer window for telecoms groups — A key growth market for both Huawei and ZTE is automotive parts.
- China’s disappearing data stokes fears of hidden Covid wave — Low official case number and death toll puzzle analysts after Beijing lifts Covid testing requirements.
- We need an honest east-west discussion about industrial policy — Europe and the US are breaking a taboo that east Asia was never afraid of.
- US House passes $858bn defence bill with weapons funding for Taiwan — Provision of $10bn marks first time Washington will finance arms for the island.
- Xi hails ‘new era’ in China-Saudi Arabia relations — President pledges to strengthen ties with Gulf as visit coincides with low point between Riyadh and Washington.
The New York Times
- Beijing Braces for Covid Surge After China Lifts Pandemic Curbs — Residents in the capital city buy up at-home tests and fever medication following the government’s decision to ease its “zero Covid” policy.
- Chasing the U.S., China’s Leader Emerges From Diplomatic Isolation — Xi Jinping’s visit to Saudi Arabia highlights Beijing’s renewed bid to compete with Washington after years of preoccupation with the pandemic.
- ‘I Will Keep Fighting’: China’s Protesters Say It’s Bigger Than Covid — The restrictions that drove people into the streets last month are being rolled back. But many of those who demonstrated say they want more.
- China and Saudi Arabia Sign Strategic Partnership as Xi Visits Kingdom — The Chinese leader Xi Jinping’s trip to Saudi Arabia showcases Beijing’s growing ties with the kingdom, a longtime American ally that is seeking greater self-reliance.
Caixin
- China Travel Demand Spikes on Latest Covid Easing Plan — Tourism firms’ stocks popped and online searches for air and train tickets surged, after Beijing announced it was lifting testing requirements for cross-regional travel.
- Chinese Cities Continue Shift From ‘Zero-Covid’ — Major cities across China including Beijing, Shanghai and Guangzhou, have further eased local Covid-19 restrictions on travel and quarantine after the country announced sweeping changes to its virus control regime.
South China Morning Post
- Panic in Beijing as China’s Covid easing catches city off guard — Residents scramble for medication in short supply and form long lines at fever clinics.
- Chinese President Xi Jinping looks to closer economic ties with Middle East as Beijing seeks greater role in region — The Chinese leader’s visit to Saudi Arabia offers an opportunity for Beijing to enhance its presence at a time when the US influence is waning.
- Apple supplier Foxconn to invest US$500 million in India in supply chain diversification from China — The capital injection comes after production at Foxconn’s plant in central China was severely hampered by a workers’ exodus and violent protests.
- Universities in Hong Kong will require students to pass national education courses before graduating — Broadcasting national achievements on campus and voluntary walking tours among additional initiatives planned by universities to foster identity among students.
Nikkei Asia
- Saudi Arabia signs Huawei deal, deepening China ties on Xi visit — U.S. wary of Beijing’s growing influence.
- Honda taps China’s EV battery king CATL for 7-year supply deal — Procurement supports over 1m electrics, as automaker plans Chinese expansion.
Bloomberg
- Beijing’s 47% Drop in Covid Cases Questioned as Signs Point to Virus Resurgence — A sudden drop in Beijing’s official daily case numbers to less than 3,000 has sparked incredulity from members of the public who are seeing infection spread quickly through the capital, with even one of the government’s most prominent defenders questioning the veracity of the data.
- China Embargo on Taiwan Fish Deepens in Wake of Pelosi Trip — China has dramatically scaled back purchases of Taiwanese fish this year, as Beijing seeks to punish the island’s democratically elected government for expanding ties with the US and its allies.
- China Delivers First Homegrown Plane to Take On Boeing, Airbus — China Eastern Airlines Corp. became the first recipient of the Chinese-made C919 passenger jet Friday, a milestone in the country’s aviation ambitions as it bids to compete with aircraft made by Airbus SE and Boeing Co.
Reuters
- Republican Gallagher to lead new U.S. House China select committee — Gallagher, a former Marine counterintelligence officer who has served on the House Armed Services Committee, has been a vocal critic of China’s Communist government.
- ‘It’s dead out here’: China’s slow exit from zero-COVID — Enduring anxieties about the coronavirus are likely to hamper a speedy return to health for the world’s second-largest economy.
- U.S. says China seeks stabilized relations with Washington, in short term — China wants stabilized relations with the United States in the short term as it faces domestic economic challenges and push back in Asia to its assertive diplomacy, White House Indo-Pacific coordinator Kurt Campbell said on Thursday.
The Economist
- The politics of death in China — How will the party pivot from boasts about low covid death tolls?
- Getting China’s old people vaccinated has been slow work — It needs to speed up, fast.
- How Chinese netizens breached the great firewall — And what the government is doing to keep it from happening again.
- China’s deep-water fishing fleet is the world’s most rapacious — Even in a notoriously murky industry, it stands out.
- What next for China’s covid-industrial complex? — Relaxation of the rules is a threat to pandemic profits.
Other Publications
- Associated Press: UN rights chief to follow up on abuse concerns about China — The top United Nations human rights official said Friday that his office will continue reaching out to Beijing about allegations of abuse in China.
- Foreign Affairs: Why India Can’t Replace China — The Barriers to New Delhi’s Next Boom. By Arvind Subramanian and Josh Felman