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
- France’s Macron Seeks to Calm Trans-Atlantic Uproar Over Taiwan Remarks — French president defends his push for more European autonomy from the U.S.
- Chinese State-Owned Enterprises Are Hong Kong’s Hottest Stocks — Telecom stocks that were booted off American exchanges have staged a strong rally.
- Chinese Exports Surge as Trade With Russia and Southeast Asia Jumps — Shipments to Russia more than doubled in March from a year earlier.
- LVMH Boosted by Rebound in Luxury Spending in China — Luxury conglomerate says Chinese shoppers returning to stores and e-commerce.
- Sunac China Shares Slump in First Trading Since March 2022 — The company had suspended trade at the end of March last year after delaying its 2021 financial results.
- Video: North Korea, Iran and China’s Connections to Russia’s War Machine — As heavy combat between Russia and Ukraine continues, supplies on both sides are running low.
The Financial Times
- Brazil’s Lula calls for end to dollar trade dominance — Leftist president lends his voice to Beijing’s efforts to boost renminbi’s role in global commerce.
- Chinese exports roar back to life in sign of economic recovery — First expansion in six months driven by demand for electric vehicles and surging trade with Russia.
- How China changed the game for countries in default — The fragile process for dealing with insolvent economies is now at risk of unravelling completely owing to a powerful and unpredictable force in sovereign debt.
- CEOs are underplaying chances of attack on Taiwan, warns US lawmaker — Chair of China committee urges more vigilance after meetings with tech and Hollywood executives.
- SoftBank moves to sell down most of its Alibaba stake — Japanese investor makes $7.2bn from forward sales of shares in Chinese ecommerce group as lucrative partnership wanes.
- China’s war games in Taiwan hone military strengths but reveal restraint — Beijing makes rare backtrack on no-fly zone after drills focused on improving invasion capabilities.
- China’s AIIB calls for multilateral lenders to keep prized preferred creditor status — Senior development bank official signals support for existing hierarchy as debt restructuring talks continue.
- Herzog & De Meuron’s M+ museum offers a new take on Asian art — The Hong Kong gallery’s collection reshapes traditional narratives about the region.
The New York Times
- WTA Lifts Suspension on Tournaments in China — The tour had paused events there after concerns about the Chinese star Peng Shuai went unresolved, but Steve Simon, its chief executive, said a different approach was needed.
- Lonely Cry for Action as China Locks Up Japanese Citizens on Spy Charges — Hideji Suzuki says Japan failed him during his six years in a Chinese prison. China’s recent arrest of a Japanese citizen is again testing Tokyo’s resolve.
- Macron Says France Backs Status Quo on Taiwan — An earlier suggestion by the French president that the security of Taiwan was not Europe’s immediate concern had drawn sharp criticism from some Western allies and commentators.
- In Chinese Photography, Political Anguish Made Physical — In an exhibition at the Hirshhorn Museum, conceptual Chinese photographers of the tumultuous ’90s use the human body to document their pain.
- A Panda Is Coming Home, and Her Chinese Fans Say It’s About Time — Ya Ya, who has been at the Memphis Zoo for 20 years, will soon return to China, where a campaign accusing the zoo of mistreating her has resonated on social media.
Caixin
- Beijing Probes Taiwan Trade Curbs on Mainland Products — Amid rising tensions, Commerce Ministry investigates Taipei limits affecting 2,455 types of imports from the mainland.
- Lithium Price Freefall Wipes Out Gains Since November 2021 — Spot price of EV battery-grade lithium carbonate drops below 200,000 yuan a ton with further declines likely.
- In Depth: Fugitive Billionaire Guo Wengui’s Web of Money-Siphoning Schemes — Fugitive Chinese businessman Guo Wengui, who has portrayed himself as an online influencer, political critic, crypto guru and ally of Trump Republicans, is now the subject of an FBI investigation for suspected fraud.
South China Morning Post
- China’s chip imports slump 23 per cent in the first 3 months as US trade sanctions, supply glut weigh on activity — China chip imports slump amid supply glut and slower global economy, and as US intensifies its efforts to curtail exports of advanced chips and equipment to China.
- China cosies up with Brazil’s Lula on state visit full of deals, diplomacy and South American inroads — Brazil’s president is in China for four days, and he is expected to meet Xi Jinping on Friday as their countries cement stronger ties in the face of Western tensions.
- Alibaba, JD Logistics shares slide as Japan’s SoftBank reportedly plans major sell-off of US$36 billion China portfolio — Chinese technology companies held by SoftBank face a threat to their recovery from Beijing’s regulatory crackdown: the Japanese investment firm reportedly plans to trim its substantial portfolio of China assets.
- Top Beijing official overseeing Hong Kong affairs urges city to use Communist Party theories to solve issues ahead of 6-day trip — ‘Investigations and studies’ on Hong Kong and Macau affairs ‘should be greatly enhanced’, Xia Baolong says.
Nikkei Asia
- Over 80% of Americans critical of China’s global role: survey — Beijing’s growing relationship with Moscow seen especially negatively.
- Indonesia sovereign fund steps up EV plans with China’s CATL — INA preparing pipeline of Nusantara projects, chief investment officer says.
- Analysis: Why Xi Jinping did not meet Taiwan’s ex-president — Ma Ying-jeou’s usefulness for Beijing likely on the decline.
Bloomberg
- SoftBank Prepares to Cash In on Long-Held Alibaba Stake — SoftBank Group Corp. is moving to sell more of its stake in Chinese internet giant Alibaba Group Holding Ltd., unwinding the bet that spurred the Japanese company’s ambition to invest billions of dollars into startups.
- Didi Shows Driverless Concept Car in Biggest Move Post-Crackdown — Didi Global Inc. rolled out an autonomous car concept and self-driving taxi services Thursday, outlining its first big business foray since becoming a central target of Beijing’s sweeping campaign to rein in powerful tech players.
- More Americans View China as ‘Enemy’ as Trust in Dwindles — Americans are increasingly seeing China as an “enemy” of the US rather than a competitor, reflecting growing public skepticism over the ability for the world’s two largest economies to cooperate, according to a new survey by the Pew Research Center.
Reuters
- China’s exports rise unexpectedly, but economists warn of weakness ahead — Exports in March shot up 14.8% from a year ago, snapping five straight months of declines and stunning economists who predicted a 7.0% fall in a Reuters poll.
- Exclusive: China out of UN’s wildlife survey for pandemic controls — China is not participating in a United Nations project to survey Asian wet markets and other facilities at high risk of spreading infectious diseases from wild animals to humans, despite long-running talks with Beijing, a UN official told Reuters.
- Germany foreign minister embarks on post-Macron ‘damage control’ in China trip — Germany’s foreign minister begins a visit to China on Thursday aiming to reassert a common European Union policy toward Beijing.
- Germany to review China stake in Hamburg port terminal — The comments came after it emerged that the Tollerort terminal had been classified as critical infrastructure this year, threatening to relaunch a political row over the risks of Chinese investment in the German economy.
Other Publications
- Pew Research Center: Americans Are Critical of China’s Global Role – as Well as Its Relationship With Russia — Around four-in-ten Americans also now describe China as an enemy of the United States, rather than as a competitor or a partner – up 13 points since last year.
- Politico: Natural gas exporters skirt Washington’s scrutiny of China — Lawmakers are eying links between the U.S. and China, but there’s little desire to curb U.S. gas shipments that are expected to help drive the industry’s domestic growth.
- Agenda Publica: Europe’s Choice on China — Over the past weeks, two of Europe’s leading political figures have put forward divergent visions for how the continent should approach its relationship with China. This is not necessarily a bad thing. By Noah Barkin
- Associated Press: Women’s tennis tour ends Peng Shuai-inspired China boycott — WTA Chairman and CEO Steve Simon said in an interview with The Associated Press that while what he sought was never delivered the decision was made, with input from player and tournament representatives, to return to the country.
