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.
Paid subscribers automatically have this list emailed directly to their inboxes every day by 10 a.m. EST. Subscribe here.
The Wall Street Journal
- China Increases Bond Issuance to Help Its Economy — Move to fund infrastructure projects comes alongside unusual increase of budget-deficit target.
- Meeting Between Biden, Australian PM Albanese Puts Focus Back on China — While war in Middle East draws attention, Australia and U.S. share goal of countering China’s influence in Asia and beyond.
- China, a U.S. Ally and the Fight Over an Old Rusty Ship — A dispute in the South China Sea is escalating, with the potential to draw in the U.S..
- Finland Suspects Chinese Ship’s Anchor Damaged Gas Pipeline — Finnish authorities said that it wasn’t clear whether it was an accident or a deliberate act.
- U.S. Lawmakers Point to Reports of Forced Labor in China’s Seafood Industry — The lawmakers cited reports that laborers from the country’s Xinjiang region are being forced to work in processing facilities elsewhere.
- Apple Risks Getting Caught in Taiwan Tensions With iPhone Supplier Probes — Taiwanese supplier Foxconn is targeted by China as its founder makes a presidential bid.
The Financial Times
- Porsche hits out at Brussels probe into Chinese EVs — German luxury-car maker says country’s auto industry will ‘fight’ a tariff war.
- Taiwan presidential frontrunner blasts China over Foxconn probe — Lai Ching-te hits back at Beijing’s investigation of Apple supplier ahead of election.
- China removes defence minister two months after disappearance — Formal ousting of Li Shangfu part of sweeping purge of senior military leaders.
The New York Times
- On the Agenda for Australia’s State Visit: China, Trade and a U.S. Marine Band — President Biden will welcome Anthony Albanese, the prime minister of Australia, for meetings and a state dinner in Washington.
- Gavin Newsom, on Climate Mission to China, Gets an Audience With Xi — The California governor is on a weeklong visit to China aimed at negotiating climate partnerships.

Caixin
- China’s Top Diplomat to Visit Washington — Foreign Minister Wang Yi will travel to the U.S. this week and meet with senior American officials, the Chinese foreign ministry confirmed Tuesday, as the world’s two major powers continue high-level communications aimed at stabilizing bilateral ties.
- Chinese Artist Fined 5 Million Yuan in ‘Landmark Case’ for Plagiarizing Foreign Work — Ye Yongqing, a renowned Chinese contemporary artist, has been fined 5 million yuan ($684,000) by a court in Beijing for plagiarizing the work of a foreign painter, in a years-long legal battle that has sent ripples through the international art community.
- In Depth: China Readies Relaunch of Shelved Carbon Credits Program — China is one step away from relaunching its voluntary carbon credits program after updating key rules for the scheme, which it shelved more than six years ago due to a lack of uptake and regulatory issues.
- How Foxconn Triumphed on the Chinese Mainland — Foxconn is facing one of its biggest compliance challenges on the Chinese mainland, where the key iPhone assembler has been caught in the crosshairs of government investigators.
South China Morning Post
- China’s 1 trillion yuan sovereign debt plan offers ‘positive growth implications’, Beijing eager to strengthen down the road — National People’s Congress ratifies plan to raise China’s budget deficit ratio, approving 1 trillion yuan (US$137 billion) of sovereign bonds and allowing local governments to front-load part of their 2024 bond quota.
- China jobs: civil service in high demand amid economic slowdown as record 2.83 million apply for exam — Record 2.83 million people applied for China’s national public servants exam, with 39,000 vacancies available nationwide at a time civil service positions are still increasingly sought after.
- Chinese developer Country Garden default on dollar bond declared for the first time in trustee notice to bondholders — Chinese developer Country Garden Holdings was deemed to be in default on a dollar bond for the first time ever, and the company is now likely headed for what would be one of the nation’s biggest-ever restructurings.
Nikkei Asia
- Xi’s energy policies trickle down to oil major amid cost concerns — CNOOC increases its capex to record level as investors fear potential overruns.
- China watches how Israel-Hamas war affects U.S. ‘posture’ in Indo-Pacific — Ex-Pentagon official says Beijing eyeing diplomatic gains by hedging on conflict.
- China-Australia thaw reveals limits of Beijing’s economic coercion — Ahead of Albanese’s first China visit, relaxation of punitive trade measures proves Xi will not sacrifice economy for politics. By Richard McGregor
Bloomberg
- EU Courts Africa in Early Push to Counter Chinese Spending — The European Union and the US will launch the groundwork for a strategic corridor to connect resource-rich Democratic Republic of Congo and Zambia with the Atlantic Ocean via Angola as both allies compete with China to access critical minerals.
- China’s Xi Meets California Governor Newsom in Beijing — Chinese President Xi Jinping sat down with California’s Gavin Newsom, the first time the leader of the world’s second-biggest economy has met the governor of a US state in more than six years.
- China Stimulus to Make ‘Big Impact,’ Ex-PBOC Official Says — The stimulus plan that China just rolled out will boost new areas of the economy while avoiding funneling money into the troubled property sector, according to a former central bank official.
- China Says Its Probe Into Foxconn Is ‘Normal Law Enforcement’ — China has called its probe into Foxconn Technology Group a routine police matter, in its first official comments on the inquiry into Apple Inc.’s most important partner.
Reuters
- Amid Foxconn probe, China tells Taiwan firms to play positive role in ties — Taiwanese companies should assume their social responsibilities and play a “positive role” in promoting the peaceful development of relations across the Taiwan Strait, China’s government said on Wednesday, amid a probe into major Apple supplier Foxconn.
- China willing to provide necessary information on Baltic Sea pipeline probe — China is willing to provide necessary information in accordance with international law regarding an investigation on damage to a Baltic Sea gas pipeline, the foreign ministry said on Wednesday at a regular press briefing.
- Foxconn founder Terry Gou lies low in Taiwan election as China tax probe reverberates — Three months out from the election, Gou, whose net worth is estimated by Forbes at $6.7 billion, has gone to ground.
- Nvidia says U.S. speeded up new export curbs on AI chips — Chip designer Nvidia said new U.S. export curbs on the sale of its high-end artificial intelligence chips to China came into effect on Monday as regulators advanced the deadline.
Other Publications
- Associated Press: California Gov. Newsom has surprise meeting with China’s leader Xi amid warm welcome in Beijing — California Gov. Gavin Newsom had a surprise meeting with China’s leader Xi Jinping in Beijing on Wednesday after being warmly welcomed by other senior leaders in a display of friendliness that stands in sharp contrast to the dialogue between the United States and China in recent years.
- Center for Strategic & International Studies: China’s Use of Graphite Export Restrictions Encourages Diversification — In 2021, China produced 79.1 percent of the world’s natural graphite, despite only having 22 percent of global reserves.
- China File: What Is the Future for International Students in China? — Steep flight costs and logistical challenges have barred student exchange from returning to pre-pandemic levels.