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’s Economy Gets Boost From Stimulus, but Headwinds Grow — Economists point to challenges including Israel-Hamas war and frosty relations with U.S.
- China’s Leaders Are Directing Jet-Fighter Harassment of U.S. Aircraft, Pentagon Says — Washington cites hundreds of reckless maneuvers, while Beijing says nations should mind their own business.
- China Stabilizes, in the Shadow of Country Garden and Evergrande — Consumers drove the improvement in China’s economy last quarter. More housing trouble could undermine their willingness to spend.
- China’s Country Garden Was Given a Second Chance to Make a Bond Payment. It Failed. — The country’s yearslong property slowdown has claimed another victim.
- China’s Xi Doubles Down on Belt and Road as Path to New World Order — Chinese and Russian leaders tout trillion-dollar initiative as a model for international cooperation at summit in Beijing, but Western leaders weren’t there to hear it.
The Financial Times
- Pentagon accuses China’s fighter jets of ‘coercive’ acts in Indo-Pacific — Defence department says Beijing making ‘centralised and concerted’ effort to intimidate US and allies.
- Chinese electric vehicle groups braced for wave of consolidation — Automakers confront uncertain future after 10-year investment boom.
- Five Eyes spy chiefs warn Silicon Valley over Chinese threat — US and allies say Beijing is targeting intellectual property in range of high-tech sectors.
- GMO seeds: Beijing’s approval sprouts new chapter for suppliers — China’s food consumption has already outpaced domestic supply due to factors including increased urbanisation.
- China expected to attend UK summit on AI next month — Rishi Sunak is keen to bring together world leaders and tech executives to define governance of new technology.
- Xi hails ‘deep friendship’ with Putin as leaders meet in Beijing — China’s president says annual bilateral trade with Russia has reached a ‘historic high’ of nearly $200bn.
- China’s economy grows faster than expected in third quarter — Expansion of 4.9% beats forecasts and comes after Beijing has tried to stabilise the property and banking sectors.
- Doubts linger over Biden’s industrial push — Despite a boom in factory building, many worry that government efforts will not sustain a manufacturing revival.
- Carrefour and Chinese conglomerate Suning in legal battle over China stores — The retail network in the country has been bleeding cash and losing market share to rivals.
The New York Times
- Israel-Hamas War Adds to Surge in Global Weapons Sales — Israel’s conflict with Hamas, Russia’s invasion of Ukraine and the rise of China have brought a boom for weapons makers and a chance for Washington to build closer military ties to other countries.
- With Putin by His Side, Xi Outlines His Vision of a New World Order — China’s close ties with Russia in countering American dominance point to a geopolitical rift that could shape the conflict between Israel and Hamas.
- Allied Spy Chiefs Warn of Chinese Espionage Targeting Tech Firms — F.B.I. officials say more than half of Chinese spying efforts aimed at stealing technology occurs in Silicon Valley.
- China’s Economy Grew More Than Expected in the Third Quarter — The government invested heavily in infrastructure, state banks financed factory construction and consumers spent more, but real estate suffered.
- New Global Divisions on View as Biden Goes to Israel and Putin to China — Washington’s strong support for Israel against Hamas is contrasted with Russian and Chinese efforts to align with the Palestinian struggle.
Caixin
- Chinese Belt and Road Loans Total $687 Billion Over a Decade — China marks the 10th anniversary of President Xi Jinping’s global infrastructure project, hosting 140 nations at a forum in Beijing.
- China’s Tsingshan to Invest $233 Million in Chile Lithium Plant — Chilean President Gabriel Boric unveils deal on visit to Beijing for Belt and Road Forum after China’s BYD started $290 million lithium project there.
- Fraud Syndicate Leader in Myanmar May Have Faked His Chinese Residency, Sources Say — Questions have been raised about the men’s nationality after the Ministry of Public Security issued a wanted notice for them last week.
South China Morning Post
- Apple CEO Tim Cook visits factory of major Chinese supplier Luxshare amid preparations for the assembly of its Vision Pro headset — Luxshare serves as the assembler of Apple’s new Vision Pro mixed-reality headset, which is expected to be launched early next year.
- Modernising China’s military — China’s military faces increasing global scrutiny amid rising tensions with the US and in various geopolitical hotspots. This series examines the convergence of technology, global rivalries and China’s military.
- China population: province bucks trend with surveyed interest in bigger families — The results of a survey from a southern province of China indicate that the national trend towards smaller families might not be entirely uniform.
Nikkei Asia
- ASML’s China sales surge amid U.S. clampdown — Export controls likely hit shipments of less advanced Dutch chip tools, experts say.
- China must immediately end unfair detention of foreign nationals — Tokyo should employ top-level diplomacy to secure citizens’ release.
- Chinese envoy sets four conditions for Xi-Biden summit — Embassy official calls for respect on Taiwan, democracy, politics and development rights.
- Asia’s metaverse is still thriving, from digital cities to gaming — In Japan, Philippines and more, virtual worlds are expanding despite Meta’s flop in the West.
Bloomberg
- China’s Strong GDP Report Shows Housing Remains a Big Problem — China’s latest economic data put the government’s growth goal of about 5% well within reach and lessened the likelihood for more stimulus before the end of 2023.
- Rio Tinto Aims to Add More Iron Ore With Stronger China Outlook — Rio Tinto Group, the world’s no. 2 miner, will aim to boost iron ore output with a stronger outlook in China and as urbanization in India and across parts of Asia drives new steel demand growth.
- China Says ‘Positive Outcomes’ on Australia Wine Levies Are Near — China signaled possible progress on resolving a dispute with Australia on punitive wine tariffs as relations between the trading partners continues to thaw.
- China Tells Gas Suppliers to Fill Storage Ahead of Winter — China’s regulator has asked its biggest state-owned natural gas suppliers to fill up storage facilities heading into the peak winter heating season.
- US Says China Has Stepped Up ‘Risky’ Behavior in South China Sea — Officials describe reckless maneuvers and discharging chaff, American officials decry lack of military communication.
Reuters
- Analysis: China’s growth surprise is not tempting investors — Official data showed the world’s second-largest economy grew 1.3% in the third quarter, above markets’ forecast of 1%, to seemingly cap a season of disappointment.
- China’s Q3 GDP growth, Sept activity show economic recovery gaining traction — China’s economy grew at a faster-than-expected clip in the third quarter, while consumption and industrial activity in September also surprised on the upside.
- Exclusive: China’s Nio considers tapping dealers to boost EV sales in Europe – sources — The company has started assessing dealers in key European markets, two of the sources said, after the company’s president last month said sales in Europe were not meeting expectations.
- Putin filmed in China accompanied by officers with Russian nuclear briefcase — Rare footage was shown on Wednesday of Russian President Vladimir Putin in Beijing accompanied by officers carrying the so-called nuclear briefcase which can be used to order a nuclear strike.
Other Publications
- CNAS: CNAS Responds: Export Controls on China — Experts weigh in on these new provisions and their implications for chips, artificial intelligence, hypersonic missiles, and more.
- MIT Technology Review: China has a new plan for judging the safety of generative AI—and it’s packed with details — A new proposal spells out the very specific ways companies should evaluate AI security and enforce censorship in AI models.
- Los Angeles Times: Despite diplomatic tension, Newsom seeks to promote Chinese cooperation on climate change — As rising fossil fuel emissions continue to push global temperatures to record highs, California Gov. Gavin Newsom will head to China this month to meet with officials on environmental imperatives.
- CSIS: Beijing’s Emerging Assessment of De-risking — For a short period after European Commission president Ursula Von der Leyen deployed the phrase “de-risk, not decouple” in March, Chinese experts greeted the rhetorical shift with cautious optimism.
- Brookings: How India and China compete in non-aligned South Asia and the Indian Ocean — China’s economic, diplomatic, and military activities in South Asia and the Indian Ocean island states have New Delhi concerned about Beijing’s growing influence in its neighborhood.
- Foreign Policy: Maybe China’s Economy Isn’t So Doomed — As Beijing struggles with a downturn, some experts make a brighter case.
- CFR: China’s Belt and Road Initiative Enters Its Second Decade: Which Leaders Went to Beijing to Celebrate with Xi Jinping? — High-level attendance at this year’s Belt and Road forum is down, but BRI still has support in the Global South and will be used by Beijing to strengthen the Global South as a counterweight to the U.S.-led international order.
