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 Locks Information on the Country Inside a Black Box — Restrictions on Wind database and other information channels add to campaign to curb foreign influence.
- China Balks at U.S. Push for Better Communications During Crises — U.S. seeks reliable channels to avoid conflict as Beijing cites lack of trust.
- Grounding of U.S. Marine Unit Spotlights Lack of Ships in Asia-Pacific — Training exercise points to larger difficulties as U.S. pivots toward China.
- China’s Ding Liren Wins Dramatic World Chess Championship, Replacing Magnus Carlsen — Ding Liren claimed the title, which Magnus Carlsen chose not to defend, with a dramatic victory in tiebreakers over Russia’s Ian Nepomniachtchi.
- China’s Consumers Lead Recovery in April — Retail spending has come back strong, but surveys also showed a surprise contraction in factory activity in April.
- China’s Oil Strategy Mixes Diplomacy and a Domestic Drilling Push — Newly discovered domestic sources of oil add to supply from sanctioned nations.
The Financial Times
- Airlines dispute adds headwinds to US-China relationship — American carriers are lobbying against their Chinese rivals over being granted more flights between both countries.
- Alibaba founder Jack Ma takes up teaching post in Tokyo — Chinese entrepreneur is re-emerging in public as Beijing’s crackdown on tech eases.
- China’s local governments stuck with bill for neighbourhood surveillance — Cash-strapped authorities struggle to reduce headcount and meet Beijing’s demands for greater security.
- Carmakers raise concerns at Chinese dominance over connectivity patents — Led by Huawei, Chinese groups are filing patents around the tech that enables products to access the internet.
- Mercedes-Benz chief says cutting China ties would be ‘unthinkable’ — Ola Källenius’s comments come amid political debate over the best approach to Beijing.
- Asian Development Bank calls on countries to fight protectionism as US-China ties sour — Trade ‘fracturing’ risks undermining efforts to combat climate change in Asia-Pacific, says bank president.
- The Big Dig: Germany reopens its mines in quest for mineral self-sufficiency — Berlin wants to reduce its dependence on China by extracting more critical raw materials, such as fluorspar, at home.
- EU law to restore nature stokes debate that jobs will ‘go to China’ — Rewilding rules will affect wind farm investment, food production and housing, say opponents.
- Chinese factory activity declines in April on weak global consumption — Services and construction still show expansion, indicating uneven recovery across post-Covid economy.
- China’s largest auction houses plan to take on western rivals — Poly Auction and China Guardian hope to boost presence in lucrative market for international contemporary art.
- Opinion: China, America and why not all growth is equal — The current global trade system is not working but a new narrative is taking shape. By Rana Foroohar
- Opinion: China could play a crucial role in ending the war in Ukraine — Russia needs its ally’s support but the prolonged conflict has become a strategic liability for Beijing. By Gideon Rachman
The New York Times
- Ding Liren of China Wins World Chess Championship — Ding prevailed in a rapid-play tiebreaker against Ian Nepomniachtchi of Russia. He is the first Chinese man to hold the world title.
- Scientist Revisits Data on Raccoon Dogs and Covid, Stressing the Unknowns — After analyzing genetic data swabbed from a Wuhan market in early 2020, a virologist said it was unclear if animals for sale there had been infected.
Caixin
- Cover Story: China’s Economic Revival Threatens Clean Air Gains — China’s decade-long battle against air pollution is facing a setback, as people witnessed a return of the choking smog that had been rarely seen in recent years.
- Chinese EV Giant BYD’s First-Quarter Profit Surges Over 400% — Warren Buffett-backed Chinese electric-car maker BYD Co.’s profit surged 411% in the first quarter, boosted by EV sales growth that beat the industry average.
- Opinion: How to Minimize the Damage When Foreign Firms Leave China — To mitigate their impact, China must understand what’s behind these relocations.
South China Morning Post
- Can DPP’s William Lai turn a paler shade of green to win Taiwanese presidency? — Ruling party candidate is moderating his pro-independence stance in a bid to reassure Beijing and Washington, analysts said.
- China says Japan’s military pivot will have ‘serious impact’ on regional stability — Japan’s shift from ‘shield’ to ‘sword’ will trigger regional arms races, ‘deserves high vigilance’, according to Modern Ships.
- ‘Only 20 per cent of Hong Kong district council seats’ to be directly elected under proposed overhaul — Source says remaining seats on revamped district councils to be either appointed by government or selected by committees staffed by pro-establishment figures.
Nikkei Asia
- China revises conscription law, eyeing Taiwan conflict — Veteran soldiers, tech-savvy students expected to play key roles.
Bloomberg
- China’s Midea Said to Make Takeover Approach to Electrolux — Electrolux so far isn’t receptive to Chinese proposal: sources.
- Xi’s Food Security Drive Could End Up Backfiring for Chinese Farmers — Government seeks to boost soy output, displacing other crops.
- Opinion: Don’t Make It Too Hard for Americans to Invest in China — It’s a mistake to give the federal government too much power over capital flows and economic activity. By Tyler Cowen
Other Publications
- Associated Press: Chinese who reported on COVID to be released after 3 years — Chinese authorities were preparing Sunday to release a man who disappeared three years ago after publicizing videos of overcrowded hospitals and bodies during the COVID-19 outbreak.
- Foreign Policy: What the Bush-Obama China Memos Reveal — Newly declassified documents contain important lessons for U.S. China policy. By Michael J. Green
- The Information: Sequoia Hired National Security Firm Beacon Amid Scrutiny of China Deals — Sequoia Capital has been working with Washington-based national security advisory firm Beacon Global Strategies as it faces potential U.S. government restrictions on American technology investment in China.