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
- Israeli Embassy Employee Stabbed in Beijing by Foreign National — Daylight attack comes as global tensions flare between supporters of Israel and the Palestinians.
- China Reboots Its Belt and Road Initiative — Beijing is trying to make lending under the infrastructure program less risky 10 years after it launched the program.
- How Evergrande’s Chief Tried to Turn Things Around—and Failed — After seeking government help, the property developer made promises to Chinese citizens that it didn’t keep.
- How the Israel-Hamas War Is Tilting the Global Power Balance in Favor of Russia, China — Moscow and Beijing seek to ride the wave of solidarity with Palestinians while taking advantage of American distraction.
- In China’s Calls for Mideast Peace, Hamas Assault Goes Unmentioned — Ambiguity in official statements echoes tiptoeing over Russia’s invasion of Ukraine.
- Risk-Advisory Firms Decide Hong Kong Isn’t Worth It — U.S.-based Nardello and other investigation companies move employees out of the city as business dwindles and China cracks down.
- China’s Central Bank Steps Up Liquidity Support — The People’s Bank of China stepped up its support of the economy with an increased injection of liquidity into the financial system, even as it kept a key lending rate unchanged.
- U.S. Should Prepare to Expand Its Nuclear Forces, Expert Panel Says — U.S. and allies need capability to fight China and Russia simultaneously, according to congressionally mandated commission.
- A Soft Landing in the U.S. Could Be Hard for Everyone Else — Conflict in the Middle East, surging global interest rates and elevated oil prices threaten fragile recovery.
- After More Than Four Years, Has 5G Lived Up to Expectations? — Hundreds of billions of dollars have been invested worldwide. Here’s what you need to know about how much the technology has, and hasn’t, changed things.
- U.S. and Europe Clash Over Trump-Era Tariffs — Biden administration’s reluctance to unwind tariffs on metals imposed by the former president clouds trans-Atlantic ties.
- America’s ‘Gold Standard’ GPS Risks Falling Behind Rival Systems — China, Russia and the European Union have developed satellite networks offering global-positioning services as the U.S. system ages.
The Financial Times
- Chinese boycott beauty products after Fukushima water discharge — Online shoppers compile lists of brands they believe could be linked to stricken nuclear plant.
- Israel-Hamas war tests China’s Middle East ambitions — Turmoil will show whether Beijing can turn its economic clout and relationship with Iran into regional influence.
- Law firm Wilson Sonsini explores Singapore office as China dealmaking slows — Beijing’s regulatory crackdown has pushed many Chinese investors and companies to expand in city-state.
- Argentina must rethink China relationship, says presidential candidate Patricia Bullrich — Centre-right contender blasts frontrunner Javier Milei’s dollarisation plan and proposes dual currency system.
- Borrell calls on China to treat EU as a ‘geopolitical power’ in its own right — Chief diplomat tells Beijing trade imbalance risks stoking demands for ‘more drastic protectionist measures’.
- TikTok courier slashes $1bn Hong Kong IPO target on weak investor demand — J&T Express offers delivery services to ecommerce groups in south-east Asia and China.
The New York Times
- How Nepal’s Deal With China for an Airport Became an Albatross — China called the project a “signature” of its cooperation with Nepal. Insiders and documents reveal the pitfalls of China’s infrastructure-at-any-cost model.
- Opinion: The U.S. Can Still Avoid War With China Over Taiwan — For a half-century, America has avoided war with China over Taiwan largely through a delicate balance of deterrence and reassurance. That equilibrium has been upset. By Oriana Skylar Mastro.
Caixin
- China Tightens Rules for Short Selling to Prop Up Stocks — Regulators will increase the minimum margin ratio for selling borrowed securities to 80% from 50%, starting Oct. 30.
- Weekend Long Read: How Liaoning’s Economy Crumbled — Ranked among the country’s top eight provinces in terms of GDP at the start of the century, China’s northern Liaoning province has since slipped to 17th place.
- Sinopec Unit to File for Arbitration Against U.S. LNG Supplier, Source Says — China International United Petroleum & Chemicals seeks arbitration against Venture Global over what it claims is a breach of contract for postponing delivery of shipments.
- Cash-Strapped Retailer Suning Gets Another Bailout — Citic Trust and Huarong agree to pony up $685 million over 10 years to help revive the once-highflying Chinese company.
- Editorial: Optimizing the Legal Environment for the Private Sector — China’s Supreme People’s Court recently issued the Guidelines on Optimizing the Rule of Law Environment to Promote the Development and Growth of the Private Economy.
South China Morning Post
- Belt and road forum ‘a showcase’ for China’s growing global influence — Leaders from 130 countries are arriving in Beijing for the summit as the infrastructure plan marks its 10th anniversary.
- Chinese scientists send out special drones in bid to sharpen carbon count from human activities — Gaps in tracking emissions from cities, industries and power generation have caused ‘significant uncertainties in global carbon budgets’, paper says.
- Apple’s compliance with China app rules plugs censorship loophole, creates new obstacles for developers — Toughened requirements on which apps Apple can offer in China are set to make life harder for app developers.
- China’s recruiters report drop-off in confidence among companies, jobseekers alike — Concern over job security has motivated many to take positions without the typical pay increases that come with a career change.
Nikkei Asia
- China’s Belt and Road came at ‘right time’ for Africa, says AU official — African Union trade and industry chief Muchanga pushes back on debt-trap charges.
- China-owned EV battery maker says U.S. plants are on track — AESC confident it can expand despite Washington’s increased scrutiny of sector.
- Opinion: BRI is only first step in China’s strategy for a new world order — Xi Jinping’s ambitions for global leadership are becoming clearer. By Niva Yau.
Bloomberg
- iPhone 15 China Sales Disappoint as Huawei Rises, Jefferies Says — Apple Inc.’s new iPhone 15 is selling far worse in China than its predecessor, according to separate analyses, reflecting stubbornly weak consumption as well as the rise of rivals like Huawei Technologies Co.
- US to Tighten Curbs on China’s Access to Advanced Chip Tech — The US plans to tighten sweeping measures to restrict China’s access to advanced semiconductors and chipmaking gear, seeking to prevent its geopolitical rival from obtaining cutting-edge technologies that could give it a military edge.
- Opinion: Ping An Real Estate Is China Property’s New Hot Potato — Private equity is shaping up as the next flashpoint in the real estate meltdown. By Shuli Ren.
Reuters
- Fearing China, South Korea targets firms building Taiwan navy submarines — South Korean authorities cited the risk of Chinese economic retaliation when they charged marine technology firm SI Innotec last year with violating trade laws for its work on Taiwan’s new military submarine program.
- Analysis: IMF warning on China puts ‘Japanization’ risk in spotlight — Inflation is stalling and its deepening real estate crisis was identified as among the biggest risks to global growth during an International Monetary Fund and World Bank meeting.
- Russia-China energy cooperation in focus as Putin visits Xi — Since the start of the Ukrainian conflict, Russia, a leading global oil producer, has cemented its energy ties with China, the world’s No. 2 oil consumer after the United States.
Other Publications
- The New Yorker: What the Tokyo Trial Reveals About Empire, Memory, and Judgment — Ian Buruma reviews “Judgment at Tokyo: World War II on Trial and the Making of Modern Asia,” by Gary J. Bass.
- The Economist: China’s banks may be loaded up with hidden bad loans — The industry’s covid-era hangover could be about to intensify.
- The Guardian: Former Bank of China boss arrested on corruption charges — Liu Liange charged with accepting bribes and illegally granting loans amid country’s anti-corruption drive.
