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
- Alibaba Co-Founder Jack Ma Returns to China After a Year Away — The billionaire’s trip home comes as Beijing eases up on tech crackdown that hit confidence among private businesses.
- China Detains Japanese Employee From Drugmaker Astellas — Arrest on suspicion of spying follows Beijing’s raid on Mintz Group.
- Honduras Establishes Diplomatic Ties With Beijing, Abandoning Taiwan — Central American nation’s move leaves Taipei with just 13 diplomatic partners.
- Why Chinese Apps Are the Favorites of Young Americans — It isn’t just the algorithms, but lessons from a competitive culture.
- Huobi’s New Boss Shakes Up Crypto Firm With China Plan — Justin Sun’s strategy for boosting revenue includes a novel way around Beijing’s trading restrictions.
- Apple’s Tim Cook Takes Stage in China to Welcoming Applause — Business leaders and Chinese officials at a Beijing-hosted economic forum are careful to tiptoe around Sino-U.S. political ties.
- Banning TikTok in the U.S. Is Easier Said Than Done — Legal and practical obstacles could confound any bid to erase the Chinese-owned app’s huge U.S. footprint.
- Pentagon Woos Silicon Valley to Join Ranks of Arms Makers — To keep up with China, the Defense Department is trying to lure private capital.
- Mideast Challenges Mount for U.S. as Its Forces Come Under Renewed Fire — The Middle East’s shifting geopolitics, coming amid gains by China and Russia, are complicating Washington’s plans in the region.
- Video: Alibaba Co-Founder Jack Ma Visits School in China After Year Overseas — Jack Ma, co-founder of Alibaba Group Holding Ltd., returned to mainland China after spending roughly a year overseas. The trip home comes as Beijing eased up on a tech crackdown that hit confidence among private businesses.
The Financial Times
- How China may keep subverting sovereign debt workouts — Beijing’s reluctance to restructure complicates Sri Lanka’s IMF rescue, plus the EU’s plan to save the Amazon through trade.
- Jack Ma returns to China as Beijing seeks to lift confidence in tech sector — Alibaba founder makes rare public visit that country hopes will reinvigorate entrepreneurial class.
- Deloitte told to ‘learn lesson’ as China vows tougher scrutiny of auditors — Vice-minister tells Big Four firm that Beijing will step up oversight after record fine.
- The cloud over China’s entrepreneurs raises capital flight risk — If investors had hoped Beijing crackdown was over, the disappearance of a dealmaker has fuelled worries over the contrary.
- China’s economic rebound weaker than expected, warns Maersk — One of world’s largest shipping groups says country’s consumers are still ‘stunned’ by Covid disruptions.
- Crypto groups expand in Hong Kong in bid to tap mainland China demand — Asia’s financial hub is working to lure exchanges moving out of Singapore.
- Russia embraces China’s renminbi in face of western sanctions — Shift away from using ‘toxic currencies’ for trade and reserves accompanies increase in yuan-denominated bank accounts.
- China’s richest county suffers export slump as US tension hits factories — Taiwanese manufacturers in Kunshan are cutting staff and wages and pushing orders abroad over geopolitical risk.
- Tim Cook praises Apple’s ‘symbiotic’ relationship with China — Chief executive’s visit comes despite rising trade and geopolitical tensions between Beijing and US.
- Xi’s Russia trip reduced chance of nuclear war, says EU foreign policy chief — Josep Borrell says Chinese leader made it clear Vladimir Putin should not deploy atomic weapons.
- Opinion: China, Japan and the Ukraine war — The merging of geopolitical rivalries in Asia and Europe has disturbing echoes of the 1930s. By Gideon Rachman
The New York Times
- Meet the Xi Jinping Loyalist Now Overseeing China’s Economy — He Lifeng’s long career in government has spanned the extremes of China’s approach, from the early embrace of small business in the 1980s to today’s tighter state control.
- Q&A: Can the U.S. See the Truth About China? — The economist Keyu Jin argues that if it can’t, “peaceful coexistence may not be possible.”
- Taiwan’s Ex-President, Ma Ying-yeou, Heads to China in a Historic Visit — Though his visit is not official, it is nonetheless significant and may offer clues to political calculations on both sides of the increasingly tense Taiwan Strait.
- In China, Marriage Rates Are Down and ‘Bride Prices’ Are Up — China’s one-child policy has led to too few women. Grooms are now paying more money for wives, in a tradition that has faced growing resistance.
- Honduras Switches Relations to China, a Blow to Taiwan — The decision by Honduras is also a setback in Washington’s efforts to use its influence in Central America to help prevent China from isolating Taiwan.
- The Lure of the ‘Made in America’ Sales Pitch — Geopolitics forced an entrepreneur, Taylor Shupe, to bring jobs back from China. It’s helping sell his meme-inspired socks too.
- An Anxious Asia Arms for a War It Hopes to Prevent — Doubts about both China and the United States are driving an arms race in the Indo-Pacific with echoes of World War II and new levels of risk.
- LG Will Spend $5.5 Billion on a Battery Factory in Arizona — Investment plans for U.S. battery production have increased since President Biden signed a law that offers generous incentives for electric cars and green energy.
Caixin
- Cover Story: Chinese Auto Makers Rev Up Price War in Race for Market Dominance — Elon Musk’s Tesla kicked off the intense competition, with BYD, XPeng and Nio joining the fray in a bruising contest that could reshape China’s auto market.
- Jack Ma Makes Rare Appearance on Chinese Mainland — Alibaba co-founder resurfaces at a school in Hangzhou as Beijing wraps up a two-year clampdown on the country’s tech sector.
South China Morning Post
- Former Taiwanese president Ma Ying-jeou on historic mainland China trip hopes ‘peace can come to Taiwan soon’ — Ma Ying-jeou’s 12-day private visit to the mainland is the first ever by a former or current Taiwanese leader.
- Baidu cancels launch event for cloud services integrated with Ernie Bot — The Beijing-based internet search giant called off the press event at the last minute, turning it into a closed-door meeting for corporate clients.
- Mark Mobius still keen on investing in China after recent hiccup, but wants Beijing to relax capital controls — Investment guru Mark Mobius, who earlier had expressed concerns about China’s capital controls, said that while he continues to be bullish on the country, it would be far more attractive to foreign investors if it eases up on investment flows.
- A portal to China is closing, at least temporarily, and researchers are nervous — CNKI, a portal for Chinese academic papers, will restrict foreign access to some databases starting April 1, for security concerns.
Nikkei Asia
- Taiwan’s Ma Ying-jeou lands in China as Tsai Ing-wen heads to U.S. — Ex-leader who met Xi Jinping in 2015 appears keen to rewrite his legacy.
- China’s diplomatic faux pas pushes Manila back into U.S. arms — Beijing has only itself to blame if it loses out to Washington strategically.
- Komatsu, Hitachi Construction turn China into export hub — Japan’s heavy equipment makers tap excess capacity with eye on other markets.
Bloomberg
- China’s New Premier Rolls Out Red Carpet to Foreign Executives — Chinese Premier Li Qiang vowed that China will “unswervingly” open wider to the outside world and establish a “broad space” for foreign companies to develop in China.
- Apple CEO Meets China Commerce Chief to Talk Supply Chain — Apple Inc. Chief Executive Officer Tim Cook met China’s Minister of Commerce Wang Wentao on Monday, underscoring the importance of the relationship between the leading US consumer tech company and its key partner despite heightened tensions between Washington and Beijing.
- Foxconn Founder to Visit US to Rev Up Taiwan Presidential Bid — Terry Gou, the billionaire founder of Foxconn Technology Group, is embarking on a 12-day trip to the US, as the independent presidential hopeful seeks to convince voters of his ability to lead Taiwan and balance its business and security priorities.
- Huawei Touts Progress Replacing Chip Design Software Led by US — Huawei Technologies Co. has developed software tools capable of designing chips as advanced as 14 nanometers, advancing efforts to help Chinese companies sidestep US sanctions and replace American technology.
- South Korea to Surpass China in Chip Machine Spending Next Year — South Korea is forecast to overtake China in spending on advanced chipmaking equipment next year in a sign of US export controls reshaping global supply chains for semiconductors.
Reuters
- China’s Baidu reveals more capabilities of AI-powered chatbot Ernie — Chinese search engine Baidu on Monday shared pre-recorded videos of its AI-powered chatbot Ernie summarising financial statements and producing powerpoint presentations, among other industry-focused capabilities.
- Chinese commerce minister in talks with Apple boss Tim Cook — Chinese commerce minister Wang Wentao met Apple CEO Tim Cook on Monday and exchanged views on the company’s development in China, the commerce ministry said.
Other Publications
- The Washington Post: Taiwan’s freedoms vs. China’s money: The dilemma for those in the middle — Could Kinmen, one state-run outlet asked, become a “trial zone” for “peaceful reunification” to be realized?
- The Guardian: New allegations and a resignation strain already fraught China-Canada relations — Han Dong’s departure escalates row over allegations that Beijing meddled in Canada’s elections as friction between countries grows.
- WIRED: I Saw the Face of God in a Semiconductor Factory — As the US boosts production of silicon chips, an American journalist goes inside TSMC, the mysterious Taiwanese company at the center of the global industry.
