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 Confronts First Lunar New Year Since Covid Lockdowns Ended — Government hopes holiday spending will help struggling economy but concerns linger about spreading infections.
- China Visa Offices Overwhelmed in Wake of Border Opening — Long wait times sow anxiety among overseas Chinese trying to visit relatives sick with Covid.
- Indian Shares Face Tough Year as China Steals the Limelight — Indian companies’ stocks outperformed those in other emerging markets last year, making already pricey shares even costlier.
- Lagarde Says China’s Economic Rebound Revives Inflation Worries — Policy makers welcome the boost to global growth from Beijing’s lifting of Covid restrictions, but worry about its impact on the price of oil and other commodities.
- Federal Judge Dismisses Charges Against NYPD Officer Accused of Acting as Chinese Agent — Justice Department sought dismissal ‘in the interests of justice,’ but didn’t explain reasons for reversing course.
- Video: Chinese New Year Mass Travel Is Back: What’s Next for the Economy — Officials expect 2.1 billion trips to be made over the holidays.
The Financial Times
- Relatives outraged as Chinese officials keep Covid off death certificates — Medical professionals cite pressure after questions emerge over mortality rates.
- Beijing’s top economic adviser tells Davos CEOs ‘China is back’ — Liu He mounts pitch for country’s reopening at private World Economic Forum lunch.
The New York Times
- U.S. Drops Case Against Police Officer It Had Called an ‘Insider Threat’ — Baijmadajie Angwang, a New York Police Department officer, had been accused of spying for China. Prosecutors said the charges were dismissed after new information had come to light.
- South Africa to Hold Naval Drill With Russia and China Amid Ukraine War — The 10-day naval exercises are a show of diplomatic independence for South Africa, which is part of an alliance with Brazil, Russia, India and China — known as BRICS.
Caixin
- Ex-China Life Chairman Charged for Bribery, Concealing Overseas Deposits — Wang Bin’s alleged misconduct stretches back to his time at state-owned lenders the Agricultural Development Bank of China and Bank of Communications.
- Ex-Manager of China’s Semiconductor ‘Big Fund’ Handed Over to Prosecutors — Lu Jun, who headed the firm in charge of the country’s biggest state-run chip investment vehicle, is suspected of taking bribes, embezzling public funds and abusing his position.
- China’s Homegrown Antiviral Covid Pill Included in National Subsidy Program — Genuine Biotech’s Azvudine treatment wins approval substantially undercutting Pfizer’s price for Paxlovid.
South China Morning Post
- China unveils new plan for wider robot use from manufacturing to agriculture, as population shrinks — Beijing wants to accelerate the application of robotics in manufacturing, agriculture, logistics, energy, healthcare, education and elderly services, as the nation’s demographic crisis intensifies.
- China’s executive vice-premier Han Zheng tipped for vice-presidency after holding on to seat in the legislature — Han is the only outgoing member of the Politburo Standing Committee to retain his place on the National People’s Congress – a potentially significant clue.
- Didi Chuxing’s main app returns to Apple, Android app stores in China after Beijing gives green light for new user sign-ups — It marks a crucial step for the company to fully resume its business after Beijing banned it from registering new users for 18 months.
Nikkei Asia
- Canada can help cut reliance on China for critical metals: minister — Like-minded nations should work together on processing, Jonathan Wilkinson says.
- China homegrown COVID pill included in national subsidy program — Price negotiations with Pfizer break down over more expensive Paxlovid.
- China Politburo retiree poised to become next vice president: report — Xi opts for trusted Vice Premier Han Zheng instead of lining up successor.
Bloomberg
- US Poised For Dutch, Japanese Help on China Chip Crackdown — The Netherlands and Japan, home to key suppliers of semiconductor manufacturing equipment, are close to joining a Biden administration-led effort to restrict exports of the technology to China and hobble its push into the chips industry.
- Sunak Urged to Cut UK Reliance on Taiwan Chips Due to China Risk — Prime Minister Rishi Sunak’s government should take steps to cut UK reliance on semiconductors from Taiwan because of the threat posed by China, a draft strategy said.
- President Thinks Congo Mineral Riches Worth More Than China’s $6.2 Billion Deal — Democratic Republic of Congo President Felix Tshisekedi criticized a $6.2 billion minerals-for-infrastructure contract with China, saying the world’s largest producer of a key battery metal hasn’t benefited from the deal.
- Jack Ma Lands in Hong Kong on Latest Stop of a Global Tour — Alibaba Group Holding Ltd. co-founder Jack Ma is in Hong Kong for a series of meetings with tech and finance executives, sustaining a recent flurry of activity that’s taken him round the world in the span of months.
Reuters
- Taiwan fines Foxconn for unauthorised China investment — Foxconn, a major Apple Inc supplier and the world’s largest contract electronics maker, disclosed last July it was a shareholder in Chinese chip conglomerate Tsinghua Unigroup, but said last month it would be selling the stake.
- Dutch export rules on China in focus ahead of ASML results — Expectations that the Dutch government will further limit sales to China by chip equipment giant ASML Holding NV may overshadow what are expected to be strong fourth quarter results due next week.
- Senior Australian official asks China to remove trade impediments — Australia’s Assistant Minister for Trade Tim Ayres called for the removal of China’s “trade impediments” on Australian exports in a meeting with his Chinese counterpart on the sidelines of the World Economic Forum, his office said.
The Economist
- Riding the slow train in China — Talking to migrant workers heading home for lunar new year.
- A planned spaceport in Djibouti may give China a boost — The latter is trying to develop a private space industry to compete with America’s.
- Japanese youngsters want to look like Chinese starlets — Fashions used to flow the other way
- TSMC is making the best of a bad geopolitical situation — Speak softly, and carry a big chip.
Other Publications
- Associated Press: UK judge rejects Uyghur bid to halt Xinjiang cotton imports — The judge agreed with the British government that there are problems meeting the standard of evidence needed for criminal investigation and prosecution.
- The Information: Sequoia China Chief Leaves Beijing’s Top Political Advisory Body — Neil Shen, the head of Sequoia Capital’s hugely successful Chinese arm, is no longer a member of Beijing’s top political advisory body, raising questions about his relationship with the Chinese government.
