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 Moves to Repair Ties With Australia by Lifting Coal Ban — Officials in Guangdong province get go-ahead to clear coal cargoes as Beijing adopts less confrontational policy.
- China Inflation Picks Up as Covid-19 Restrictions Fall — Rising Chinese demand for global commodities could offset easing inflationary pressures.
- U.S., Japan Expand Security Cooperation With New Steps to Counter China — Initiatives include protecting Japanese satellites and bolstering U.S. Marine forces in Japan.
- China International Flights to Recover Slowly After Covid Reopening — A strong rebound will likely take months, given entry requirements, pricey plane tickets and rerouting of jets.
- China’s Junk-Bond Market Creaks Open With a $400 Million Sale — Dalian Wanda Commercial Management Group’s transaction could inspire other real-estate firms to make offerings.
- Indonesia Risks Confrontation With China Over Gas Project in South China Sea — Southeast Asian country is growing its presence near the Natuna Islands in waters where Beijing claims maritime rights.
The Financial Times
- China eases curbs on property developers to counter downturn — Banks roll out loans and backtrack on debt constraints after policy to limit speculation led to wave of defaults.
- US and Japan agree to expand security alliance into space — Move to protect satellites marks latest effort in preparing for possible Chinese conflict over Taiwan.
- Dell looks to phase out ‘made in China’ chips by 2024 — Production shift within tech industry ‘looks irreversible’, says executive at one supplier.
- Apple promises to disclose more details about app removals — Activists had raised concerns about how iPhone maker’s decision-making process affected freedom of expression.
- BYD aims to become India’s second-largest electric carmaker — Chinese group to roll out more models to become country’s next biggest EV seller behind Tata Motors.
- TSMC gives cautious outlook despite strong earnings — Chipmaker bucks weak sales in sector as pandemic electronics boom fades.
The New York Times
- With F.B.I. Search, U.S. Escalates Global Fight Over Chinese Police Outposts — Beijing says the outposts aren’t doing police work, but Chinese state media reports say they “collect intelligence” and solve crimes far outside their jurisdiction.
- From Disciplinarian to Cheerleader: Why China Is Changing Its Tone on Business — With the economy in a fragile state, Chinese officials are starting to use more business-friendly language, and also to back their words with action.
- Driver in Guangzhou, China, Runs Down Pedestrians, Killing at Least 5 — The police in Guangzhou detained a 22-year-old man, who appeared to throw money in the air after striking the people. Thirteen people were injured.
Caixin
- In Depth: How Beijing’s Health Care System Battled Covid as Cases Peaked — The capital was the first major city in China to see the peak of severe infections, the sheer number of which squeezed medical resources for all patients, overwhelmed emergency departments and ICUs and created long lines outside funeral homes and crematoriums.
- China’s Banks Need to ‘Lean Forward’ in Backing Builders, Regulators Say — Central bank and banking regulatory commission emphasize helping property sector in meeting with financial institutions to outline policy priorities.
- China’s 2022 New-Energy Vehicle Shipments Nearly Double — BYD, SAIC-GM-Wuling and Tesla lead surge to 6.5 million shipments of electric and hybrid autos, accounting for 27.6% of industry.
South China Morning Post
- Chinese ride-hailing giant Didi Chuxing said to start new round of lay-offs affecting hundreds of jobs ahead of Lunar New Year holiday — Didi’s latest round of lay-offs will affect hundreds of jobs at nearly every department in the company, including its ride hailing, overseas business and risk management operations.
- Chinese military invents smart shield designed to make laser weapons useless — Metallic film prevents missiles from being blinded by defence systems while maintaining clear view of targets, researchers say.
- Hong Kong Airlines reveals 1,000-person hiring spree, days ahead of liquidation hearing — Airline could return to 75 per cent of its operating capacity by end of 2023, chairman Hou Wei says.
- Ex-chief editor denies Stand News promoted ‘radical’ Hong Kong opposition views, court hears — Chung Pui-kuen implores court to recognise that restrictions on free speech are not ‘absolute’ and warns against ‘chilling effect’ of sedition allegations.
Nikkei Asia
- Analysis: China’s elderly pay ultimate price for COVID missteps — Senior citizens die at unprecedented pace, leaving families devastated.
- What awaits Ant Group now that Jack Ma has relinquished control? — Analysts say founder’s imprint on the company may linger despite new structure.
- China outbound flight bookings at 15% of pre-pandemic levels — Low capacity, entry curbs pose challenges despite recent surge: ForwardKeys.
Bloomberg
- Swedish Miner Finds Europe’s Largest Rare Earth Deposit — The largest known deposit of rare earth minerals in Europe has just been discovered in Sweden’s Arctic, with potential to help the continent break free from China’s dominance on the market for the resources.
- Tesla China Plant Expansion in Doubt Over Starlink Concerns — An expansion of Tesla Inc.’s plant in Shanghai has been delayed, according to people familiar with the matter, over data concerns that risk putting a roadblock in the way of the US electric-car maker’s ambition to keep growing in China.
- China Solar Firm Plans US Plant in Win for Biden Energy Push — A leading Chinese solar panel maker has leased space for its first US factory in another win for the Biden administration’s efforts to build up the nation’s clean energy manufacturing base.
- Jimmy Lai’s Next Delists in HK, Ending Stock’s Turbulent Run — Jimmy Lai’s Next Digital Ltd. ceases trading for good on Hong Kong’s stock exchange on Thursday, marking the end of an often controversial share listing.
Reuters
- Chinese fret over elderly as WHO warns of holiday COVID surge — People in China worried on Thursday about spreading COVID-19 to aged relatives as they planned returns to their home towns for holidays that the World Health Organization warns could inflame a raging outbreak.
- Mainland Chinese head to Hong Kong for mRNA COVID vaccines — Scores of mainland Chinese travellers are rushing to Hong Kong to receive mRNA COVID-19 vaccines, which are not available on the Chinese mainland.
- China’s climate envoy Xie meets with U.S. counterpart Kerry — China’s chief climate negotiator Xie Zhenhua met his U.S. counterpart on Wednesday and both sides agreed to maintain communication to jointly address the challenge of climate change, the Ministry of Ecology and Environment said on Thursday.
Other Publications
- Associated Press: US spies lag rivals in seizing on data hiding in plain sight — Many current and former intelligence officials are increasingly warning: The $90 billion U.S. spy apparatus is falling behind because it has not embraced collecting open-source intelligence as adversaries including China ramp up their efforts.
- Politico: Hong Kongers brace for expiry of Biden’s deportation protection directive — A presidential directive that protects Hong Kong citizens in the U.S. from deportation back to the territory will lapse in 24 days.
- Semafor: Chinese social media app Kwai played a role in Brazil riot — As they expand abroad, Chinese social media firms are now contending with many of the same controversies over content moderation that have plagued their American counterparts.
