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
- U.S. Sends Drone Ships to Western Pacific in First Deployment Near China — Autonomous vessels could aid Navy in tracking China’s fleet and provide attack options.
- China’s Fighter Jets Aren’t Just Flying Around Taiwan. They’re Practicing. — Surge in activity shows Chinese honing ability to block U.S. military from responding to an invasion.
The Financial Times
- EU envoy demands ‘progress’ on China trade barriers ahead of talks — Commissioner Valdis Dombrovskis’ visit comes as Brussels opens anti-subsidy probe into electric vehicles.
- China welcomes Syrian president Assad for summit — First visit since start of civil war as Beijing expands its influence in Middle East.
- Chip bans not enough to secure critical networks — A wide range of cyber defences are needed to protect national infrastructure.
- Foreign investors still shunning China despite signs of upturn — Equities outflows continued in September with many unconvinced the worst is over.
- Opinion: What the most ‘Chinese’ smartphone yet tells us about politics — The advances in domestic chipmaking suggest western controls will be far from watertight. By Chris Miller.
- Opinion: Tech remains central in the Hot Peace between China and the US — Despite the shouty rhetoric, economic symbiosis remains strong, benefiting consumers on both sides. By John Thornhill.
The New York Times
- Syria’s Leader, al-Assad, Visits China in Search of Friends and Funds — The trip by President Bashar al-Assad of Syria, his first to China since 2004, may bolster Beijing’s efforts to expand its influence in the Middle East.
- Hong Kong Says It Calls the Shots, Not Beijing. Investors Are Wary. — Its close ties to Beijing are putting the city, still an international financial hub, in a bind as it lures Western investors to revive its economy.
- Biden Is Caught Between Allies as Canada Accuses India of Assassination — President Biden has prioritized bolstering partnerships over full-throated advocacy for democracy among American allies.
- U.S. and China Aren’t Invited to speak at U.N.’s Climate Ambition Summit — The world’s two biggest polluters were not invited to speak at a United Nations meeting designed to highlight effective action against warming.
Caixin
- China’s Sinopec Dives Deeper Into Geothermal Energy — The company’s push could serve as a catalyst for fast-tracking the exploration and use of the renewable energy, experts say.
- Huawei Appoints Yu Chengdong as Chairman of Smart Car Unit, Sources Say — Jin Yuzhi, who has been head of the tech giant’s optical fiber business since 2019, will succeed Yu as CEO.
- Exclusive: Baowu Suspends Talks on Buying Indonesia Nickel Assets — Potential $3 billion to $4 billion deal with China’s Tsingshan goes on ice after change in Baowu leadership amid downturn in nickel and steel industries.
- Analysis: China’s New Electricity Spot Market Rules Lay Groundwork for Unified Standard — The publication of the rules is a ‘landmark’ move in the country’s efforts to build a nationwide power market, one expert tells Caixin.
South China Morning Post
- Huawei smartphone spin-off Honor has no plans to develop own advanced chips, CEO says, as Qualcomm and MediaTek offer ‘best solutions’ — Honor chief executive George Zhao Ming said the company will focus on noncore chips such as the C1, a self-developed radio frequency communication device to boost 5G signals that it unveiled in March.
- China’s home-grown planes touch down in Southeast Asia as West mulls approval — A Brunei airline has committed to buying a batch of China’s domestically produced aircraft – another step forward in the planes’ path to global procurement.
- China beats US in top global scientific papers ranking: report — Number of ‘hot papers’ published by Chinese scientists takes out top spot in international chart.
- Chinese EV maker Nio launches world-first smartphone designed as an intelligent vehicle companion — The company believes a technology-heavy owner experience, supported by the phone’s more than 30 car-specific features, will give it an edge in a sizzling but crowded market.
Nikkei Asia
- Analysis: Military elder put silent pressure on Xi at Beidaihe — Officer purges and simmering discontent drove retired general to conclave.
- Xi Jinping faces impasse in jump-starting China’s economy — Attempts at structural reforms frustrated by economic setbacks.
- ASEAN to stay priority for China’s BRI investment despite slowdown — Beijing views Southeast Asia as geopolitically important to counter U.S. influence.
- Opinion: China’s ‘hurt feelings’ law is tailor-made for Xi Jinping — Anxious public worries about crossing line by eating sashimi or reading manga. By Benjamin Qiu.
Bloomberg
- Xi’s Purge of Handpicked Ministers Shatters Stability Image — After President Xi Jinping tore up the Communist Party rulebook to promote key loyalists last year, some observers expected his new team to operate more smoothly in tackling China’s biggest challenges.
- China Tests New Property Model in Xi’s Flagship City Amid Crisis — China is road testing a new property policy in an experimental city President Xi Jinping is building outside Beijing to try to stabilize a housing market rocked by an ongoing credit crisis.
- Opinion: A Hong Kong Property Billionaire With a Big Family Dilemma — New World Development’s balance sheet looks nothing like its peers. By Shuli Ren.
- Opinion: The US Has Costly Delusions About Decoupling From China — Playing chicken with globalized capitalism carries real risks for the US, not to mention the rest of the world. By Eduardo Porter.
Reuters
- Exclusive: Vietnam’s VinFast to deliver EVs to Europe this year as EU probes China rivals — Under the plan, about 3,000 of its VF8 crossovers would be delivered to France, Germany and the Netherlands in the fourth quarter of this year from VinFast’s factory in northern Vietnam.
- Exclusive: China scrutinises quant strategies as market weakness stokes public anger – sources — Regulators have started to probe some hedge funds and brokerages on quantitative trading strategies amid a growing outcry against a sector able to profit from share price falls and volatility.
- What are the latest upgrades in China’s military? — China’s long-term military modernisation efforts are bearing fruit, with a string of upgrades for its warships and warplanes under way.
The Economist
- The disappearance of China’s defence minister raises big questions — Officials selected by Xi Jinping are going down. What does that say about his judgment?
- China wants to be the leader of the global south — An unusual speech in Cuba gives hints about its grand plan.
- China tells its citizens to be on the lookout for spies — They’re everywhere, says the local intelligence agency.
- China isn’t the only country giving out goodies in Asia — Japan and South Korea are offering development cash too.
Other Publications
- NBC: White House told U.S. ambassador to Japan to stop taunting China on social media — Rahm Emanuel has mocked Chinese President Xi Jinping, speculating about the recent disappearance of a top official.
- CNN: Indonesian indigenous islanders are rallying against plans to build a Chinese funded factory on their homes — Protests this month have centered around plans for a factory announced during a high profile meeting in July between Indonesian President Joko Widodo and Chinese leader Xi Jinping.
- Foreign Policy: Why Everyone Is Courting Mauritania — NATO, China, Russia, and regional powers all want closer ties to a stable West African nation with crucial energy supplies and a strategically valuable location.
- Foreign Policy: Kosovo and Taiwan Eye an Alliance of Outsiders — Both nations are championed by Washington but under threat from revanchism.
- Foreign Affairs: The Case Against Containment — The Strategy Didn’t Win the Cold War—and It Won’t Defeat China.
- AP: Jimmy Lai’s son fears Hong Kong media mogul may die in detention while awaiting trial — Sebastien Lai also slammed the U.K. government for its “shameful” lack of action in helping his father, who is a British national.
- CSIS: “Guardrails” on CHIPS Act Funding to Restrict Investments in China May Restrict Participation in CHIPS Act Incentives — U.S. export controls on technology exports to China may presage additional U.S. measures to curtail U.S. investments in strategic, technology-intensive industries in China.
