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
- Chinese Spy Balloon Tracked Over U.S. This Week — Incident comes days before Secretary of State Antony Blinken’s trip to China.
- Chinese Spy Balloon Over the U.S.: What to Know — State Department summoned China’s top diplomat in Washington.
- China Says It Is Looking Into Spy-Balloon Allegation by U.S. — Beijing spokeswoman says the claim should be handled calmly and carefully.
- TikTok’s Transparency Campaign Echoes Effort by Huawei to Ease Security Concerns — Chinese-owned app is taking steps that are similar to largely unsuccessful tactics used by the telecom giant.
- Watch: U.S. Military Tracks Suspected Chinese Spy Balloon — The U.S. tracked what officials described as a Chinese reconnaissance balloon over the continental states this week. Amateur footage showed a large flying object over Montana.
The Financial Times
- US accuses China of flying spy balloon over sensitive military sites — Discovery comes as tensions rise between Washington and Beijing.
- China’s recovery might be a bit less than meets the eye — Investors should not assume this upturn in economic growth will be just like previous ones.
- China’s ‘big white’ pandemic workers reel from end of zero-Covid — Migrant labourers who formed backbone of antivirus effort stranded after Beijing scrapped restrictions.
- Blinken to meet Xi in first visit to China by a Biden cabinet secretary — Engagement could come within days and signals Beijing’s desire to improve tone of ties with Washington.
- Happy China Article IV day everyone — The real estate of China’s economy.
- China brokerages: easier, faster listings boost earnings outlook — Foreign investors have noted change in tone from Beijing about regulation and economic expansion.
The New York Times
- Suspected Spy Balloon Hampers China’s Efforts to Ease Tensions With U.S. — Beijing said it was looking into reports about an object seen flying over Montana. “Speculation and hype will not help,” a Chinese government spokeswoman said.
- Why Chinese Companies Are Investing Billions in Mexico — Alarmed by shipping chaos and geopolitical fractures, exporters from China are setting up factories in Mexico to preserve their sales to the United States.
- Biden Aims to Deter China With Greater U.S. Military Presence in Philippines — U.S. officials say they are preparing to surge forces in the event of conflict with China, including over Taiwan, but do not intend to build up permanent bases.
Caixin
- In Depth: Chinese Students Hoping to Study Abroad Return to a Changed World — After three years of dealing with border restrictions, sky-high airfares and school closures due to the pandemic, Chinese are once again applying en masse to universities overseas, most of which returned to normal operations last year.
- China May Scrap Limit on Municipal Land Sales to Boost Fiscal Revenue, Sources Say — Notice sent to local governments in December failed to mention the annual auction cap on land parcel sales, indicating it might no longer be in effect.
- Zijin Completes $360 Million Suriname Gold Mine Purchase — State-backed gold and copper mining giant expands global reach with acquisition of one of South America’s largest gold reserves.
South China Morning Post
- Hong Kong to end travel curbs at mainland China border on Monday — In announcing long-awaited return to regular travel, John Lee says cultural exchanges and economic activity will be boosted.
- Beijing Legoland to help China’s capital spur economy as construction set to begin this year — A Legoland park in China’s capital has been discussed for years. After falling by the wayside in 2022, the city says ground will finally be broken in 2023, and a theme park expert says it will thrive.
Bloomberg
- US-China Reset Risks Bursting Over Spy Balloon — Enthusiasm for the first trip by an American secretary of state to China in nearly five years — a visit both sides pitched as a way to help reset ties — has been punctured by news that a high-altitude surveillance balloon was spotted by the Pentagon over the western US this week.
- Chinese-Australian Money Laundering Group Dismantled in Sydney — Australian authorities said they dismantled a Chinese-Australian money-laundering syndicate and seized assets worth more than A$150 million ($106 million) in one of the country’s biggest operations of its kind.
- House Republicans Zero-In On Biden Climate Envoy John Kerry — House Republicans are launching an investigation into the activities of President Joe Biden’s climate envoy John Kerry, including any dealings with the Chinese Communist Party and left-wing environmental groups.
- Beijing’s Awkward Olympic Legacy Shows Risk of Venue Reuse — China’s capital showed the world how to repurpose sports facilities for any season. But what happens when the games are over?
Reuters
- Exclusive: China eyes help for shell-shocked consumers but big stimulus unlikely-sources — China’s policymakers plan to step up support for domestic demand this year but are likely to stop short of splashing out big on direct consumer subsidies, keeping their focus mainly on investment.
- CIA chief warns against underestimating Xi’s ambitions toward Taiwan — Burns said that the United States knew “as a matter of intelligence” that Xi had ordered his military to be ready to conduct an invasion of self-governed Taiwan by 2027.
The Economist
- Will we ever know how many people died of covid-19 in China? — The official data are not to be believed.
- Why Vladimir Putin is not a pariah in China — On the frozen China-Russia border, locals talk about the past and future.
- A geopolitical setback for China in the Pacific — Fiji says Chinese police officers should go home.
- China’s BYD is overtaking Tesla as the carmaker extraordinaire — It’s the Toyota of EVs.
- America’s hoped-for Asian semiconductor pact looks tricky — Democratic or not, Asia’s chipmakers are in competition with each other.
- Explaining Chinese amnesia over the Cultural Revolution — In “Red Memory” Tania Branigan looks at how and why China chooses to forget.
Other Publications
- BBC: Alleged spy balloon over US is weather device – China — China says alleged spy balloon spotted over US is “civilian airship” used mainly for weather monitoring, which went off-course.
- Foreign Policy: Beijing Needs to Junk Its Economic Playbook — Government stimulus and greater exports can’t dig China’s economy out of a deep hole. By Zongyuan Zoe Liu
- MERICS: Controlling the innovation chain — China’s strategy to become a science & technology superpower.
