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 Jet Fighters Step Up Pressure on U.S. Aircraft Over South China Sea — Encounter in the sky Friday, witnessed by a reporter, shows Beijing’s pilots are turning more aggressive, U.S. says.
- China Urges End to Ukraine War, Calls for Peace Talks — Beijing wants sanctions against Russia stopped, faster grain exports
- Ford Motor Turns to Industry Outsider to Reverse China Slump — Less than six months after joining auto maker, former Whirlpool executive Sam Wu is named to top job at Chinese unit
- Chinese Developer Is Preparing to Buy Land Again After Painful Slowdown — Country Garden’s plans are a further sign that the downturn in China’s housing market is easing
- Video: ‘Everything Is Fine’: Chinese Star Fan Bingbing Debuts Film After Tax Scandal — Chinese movie star Fan Bingbing greeted fans at the Berlin International Film Festival on Thursday ahead of the premiere of her first film in five years.
The Financial Times
- China pushes for ceasefire in Ukraine war — EU and Nato leaders say proposal is tainted by Beijing having ‘taken sides’ in the conflict.
- China’s foreign loans are becoming a US burden — Critics, including Janet Yellen, say Beijing’s bilateral lending comes at the rest of the world’s expense.
- China’s wealthy struggle to find private jets as travel rebounds — Long waits for sought-after routes as exit from zero-Covid sparks demand for trips.
- Alibaba ekes out sales growth despite Covid-hit quarter — Share price for Chinese ecommerce giant rises by 2 per cent following better than expected results.
- Chinese bank executive in line to take the helm at PBoC — Beijing prepares to overhaul leadership of financial institutions as economy recovers from Covid.
The New York Times
- China Repeats Call for Cease-Fire in Ukraine and Peace Talks — A new policy paper was not the blueprint or bold initiative that some in European capitals appeared to expect.
- The U.S. Intelligence Playbook to Expose Russia’s Ukraine War Plans — Bolder disclosures are part of a larger effort to stymie the Kremlin’s offensive in Ukraine and align support for Kyiv’s war effort in allied countries.
- E.U. Officials Ban TikTok From Employees’ Phones — The European Commission took aim at the popular Chinese-owned app, citing “cybersecurity threats.”
Caixin
- In Depth: Why Is Chip Giant TSMC Investing in the U.S. When It Doesn’t Need to? — The project is one of a handful of international investments the Taiwan firm is pursuing as it seeks to diversify production in a business that is becoming increasingly less globalized.
- Exclusive: Tencent’s Top Risk Control Executive to Depart Amid Fintech Revamp — Yang Jun, who built a risk control system for the e-commerce giant’s financial operations since 2020, may return to the traditional finance sector.
- Top Graft Buster Pledges to Ramp Up Financial Sector Corruption Fight — Central Commission for Discipline Inspection vows in an article to ‘maintain a strict tone, strict measures and a strict atmosphere.’
South China Morning Post
- China aims to launch nearly 13,000 satellites to ‘suppress’ Elon Musk’s Starlink, researchers say — The satellite constellation is likely to be launched quickly to prevent SpaceX from hogging ‘low-orbit resources’, according to PLA space scientists.
- TikTok calls EU ban ‘un-European’ as it faces an increasing trend to remove the app from government devices — TikTok was caught off guard by an order from the European Commission to restrict the use of the short-video app on government devices.
Bloomberg
- China Cease-Fire Proposal for Ukraine Falls Flat With US, Allies — China called for a cease-fire between Russia and Ukraine in a position paper on ending the war that offered some reprieve to Moscow but was quickly dismissed by Kyiv’s allies as the conflict enters its second year.
- China Dismisses US Claim Over Possible Weapons Sales to Russia — China pushed back on US accusations that it has considered providing lethal aid to Russia in its war in Ukraine, saying it never sells arms to parties involved in a conflict.
- What a Possible PBOC Leadership Shake-Up May Mean for Policy — The People’s Bank of China may have two new officials leading the central bank following a reshuffle of government positions next month.
- US Likely to Put a Tech Cap on South Korean Chipmaking in China — The US is likely to impose a limit on the chip production capabilities of Samsung Electronics Co. and SK Hynix Inc. in China, a senior American official said, as Washington works with allies to curb Beijing’s access to cutting-edge technologies.
Reuters
- China says it is not aware of drone purchase talks between Russia and Chinese company — German magazine Der Spiegel reported on Thursday, without citing specific sources, that Russia was in talks with a Chinese manufacturer about buying 100 drones, with a delivery date of April.
- Analysis: China’s role as Ukraine peacemaker in doubt as it ‘deepens’ Russia ties — A year after Russia invaded its southwestern neighbour, its “no limits” partner China is offering to broker peace.
- China says U.S. refused to share information on downed Chinese balloon — China’s foreign ministry said on Friday that the United States had refused to reply to a Chinese request for information on the balloon that it had shot downed off the coast of South Carolina earlier this month.
The Economist
- China’s public is fed up, but not on the brink of revolt — Why Chinese pensioners are protesting, in their own words.
- China’s war on graft in football — The country does some soul-searching about a glaring national weakness.
- Is China’s attitude to genetically modified crops changing? — A loosening of restrictions may be in the offing.
Other Publications
- The Washington Post: How the U.S. improvised a plan to deal with a Chinese balloon — The arrival last month of a Chinese high-altitude balloon called for a measure of creativity, putting weapons to an unfamiliar test.
- The Associated Press: What is China’s peace proposal for Ukraine War? — China’s proposal calls for a cease-fire and peace talks, and an end to sanctions against Russia.
- The Globe and Mail: Former chief electoral officer calls for independent inquiry into Chinese interference in Canadian elections — Mr. Kingsley, who served in the post from 1990 to 2007, said it is disturbing that CSIS documents reveal Chinese strategy to influence Canada’s 2021 election and illegal methods to help favoured candidates in the two most recent campaigns.
- Foreign Policy: Why the U.S. Should Not Ban TikTok — The ban would hurt Americans—and there are better ways to protect their data. By Bruce Schneier and Barath Raghavan
- The Information: The People With Power at TikTok Owner ByteDance — TikTok has taken steps to distance itself from its parent, ByteDance, but a close look at the Chinese tech giant’s management structure shows how closely integrated TikTok remains.
