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
- TikTok to Invest in GoTo to Restart Indonesia E-Commerce Business — The Chinese video-sharing app will invest more than $1.5 billion in a deal with GoTo Group that will allow TikTok to resume retail operations in Indonesia, one of its most successful e-commerce markets.
- Hong Kong Sees Record-Low Turnout for ‘Patriots’-Only Election — In the city’s first elections since only pro-Beijing candidates were allowed to stand, 27.5% of the electorate turned out to vote despite governmentwide efforts to get them to the polls.
- The Chinese and American Climate Negotiators Pushing for a Deal — U.S. diplomat John Kerry and his China counterpart, Xie Zhenhua, stayed in touch when their countries’ relations were frozen—and are now driving final talks at the U.N. climate conference in Dubai.
- The Next Chips to Transform EVs Could Be Made From Wood — A New Zealand startup is turning forestry scraps into graphite for use in lithium-ion batteries.
- Chinese Coast Guard Blasts Philippine Boats With Water Cannons — The incident occurred in the South China Sea near Scarborough Shoal, which Beijing seized in 2012.
- China Can’t Shake Deflation — Consumer prices fell again last month, the latest sign of economic weakness.
The Financial Times
- Beijing and Brussels are both waiting for Trump — The EU-China relationship has sunk into mutual suspicion.
- Hong Kong’s ‘patriots-only’ election draws record low turnout — Poll seen as test of public support for political order imposed by China’s President Xi Jinping.
- China challenge is too much for Republican market fundamentalism — Defeat on outward-bound investment legislation shows significant change in the party.
- India’s NSE set to take Hong Kong’s spot among world’s largest markets — Recent share price surge is helping exchange contest seventh place in global rankings.
- Millions drop out of China’s state health insurance system — Rising premiums drive cash-strapped families to cancel coverage, fuelling fears about economic slowdown.
- Rise in Chinese steel output drives sharp rally in iron ore — Lifting of annual production cap fuels demand for the commodity, despite crisis in China’s property sector.
- China’s deflation worsens as economic pressures mount — Consumer price data comes after policymakers pledge to step up fiscal and monetary support.
The New York Times
- What It Feels Like To Be the Target of China’s Water Cannons — The Philippines invited journalists on a mission to provide fuel to fishermen in disputed waters of the South China Sea amid tensions between Beijing and Manila.
- Dr. Gao Yaojie, Who Exposed AIDS Epidemic in Rural China, Dies at 95 — Despite government efforts to silence her, she drew global attention to an epidemic that devastated rural China and killed tens of thousands.
- Tiny Electric Vehicles Pack a Bigger Climate Punch Than Cars — Two- and three-wheeled vehicles, used by billions of people, are moving away from fossil fuels to batteries faster than cars in countries that have made the energy transition a priority.
- Where Did All the Hong Kong Neon Go? — A government crackdown on neon signs stems from safety and environmental concerns, but the campaign evokes the fading of the city itself.
- Opinion: Anti-Chinese Laws Are on the Rise. We’ve Been Through This Before. — Since the late 19th century, the yellow peril fear mongering fueled racist legislation throughout the West against Chinese and other Asian people. By Mae Ngai.

Caixin
- China’s Forex Regulator Expands Overseas Borrowing Pilot Nationwide — State Administration of Foreign Exchange also enhances support for foreign businesses, adding to a flurry of government efforts to retain them.
- Cao Yu Retires as Vice Chairman of China’s Top Financial Regulator — Veteran bank regulator stands down as vice chairman of the NAFR on reaching retirement age.
- China Orders Six Provinces to Get Data Fabrication Under Control — National Bureau of Statistics finds local authorities cooking the books.
- In Depth: China’s Responses to Crumbling Foreign Investment May Take Time to Stoke Rebound — Diminished enthusiasm from overseas investors has been met by moves to further open up markets and attract fresh investment.
South China Morning Post
- ‘No way out’: JD.com founder Richard Liu warns staff not to ‘lie flat’ as China’s e-commerce incumbents fall behind PDD — ‘So many issues have emerged, certainly because I mismanaged,’ Richard Liu wrote, as the growth pace of JD.
- China cracks down on theft of geographic data, warning of national security threat — Beijing kicks off inspection to eliminate risks following cases involving geographic information systems used in key industries as spy agency warns people with ‘ulterior motives’ have used foreign software to try to steal classified data.
- ByteDance rival Kuaishou sharpens focus on fast-growing real-estate video content with new round of restructuring — The short-video company is renaming its local consumption unit as the recruitment and property unit, according to a Chinese report, as it accelerates its monetisation push after swinging back to profit.
- Made-in-China still dominates US holiday sales, but do Americans even care? — The especially active holiday-shopping season in the United States has been a boon for China exports despite years of political and trade frictions between the countries.
Nikkei Asia
- U.S. considers missile launch notification framework with China — Washington hopes to hold bilateral nuclear talks with Beijing in early 2024.
- Taliban says China has accepted its envoy to Beijing — Afghanistan ‘last piece’ of strategic puzzle as Beijing looks to shut out West.
- India, Taiwan stocks draw emerging-market investors as China slumps — Growth hopes lift Sensex to record; U.S. rate cut chatter boosts other currencies.
- Beijing opens Thai research institute to support Chinese carmakers — Move part of efforts to expand Southeast Asian footprint.
Bloomberg
- Real Estate Titans Battle DeSantis Over China Property Crackdown — Law targeting Chinese influence has disrupted property deals.
- Huawei Phone Shows China Is Replacing US Suppliers of 5G Tech — The Mate 60 shows China has the sort of advanced semiconductor manufacturing capabilities that US trade sanctions are trying to prevent.
- For China’s Bargain-Loving Oil Refiners, the Great Venezuela Trade Is on Pause — Private players made the most of the opportunity presented by discounted Latin American crude. Now, there’s competition.
- Justin Sun-Linked Crypto Exchange HTX Sees $258 Million Outflow After Hack — The HTX exchange, a digital-asset trading platform linked to China-born industry mogul Justin Sun, has suffered a $258 million net outflow since resuming operations after suffering a major hack.
- Opinion: When Push Comes to Shove, Amazon Does Cut Prices — Is the fierce competition with China’s Shein proof of the e-commerce giant’s market dominance or proof that the market is doing its job? By Dave Lee.
Reuters
- Explainer: Why China, the Philippines keep fighting over tiny shoal — The Philippines on Monday described the actions of Chinese vessels against its boats carrying out South China Sea resupply missions over the weekend as a “serious escalation”.
- Exclusive: Huawei approaches Audi, Mercedes about investing in its smart car firm — Huawei, the target of U.S. sanctions since 2019, also hopes the presence of foreign investors would help defend the business from potential further geopolitical tensions.
- Exclusive: After US curbs, Tencent and small chip designers chase Nvidia’s China crown — California-based Nvidia commands as much as 90% of China’s $7 billion market for chips used to process enormous amounts of data to develop artificial intelligence (AI) software.
Other Publications
- AP: China is hardening against dissent, rights groups say as they mark International Human Rights Day — Western governments are failing to press China hard enough, the rights groups say, and a more powerful China under President Xi Jinping has become more impervious to international pressure.
- The Washington Post: China’s cyber army is invading critical U.S. services — The Chinese military is ramping up its ability to disrupt key American infrastructure, including power and water utilities as well as communications and transportation systems.
- The Washington Post: After arrests and deportations, Mongolians worry about Chinese reach. — Some Mongolian activists fear that the Chinese security state could use cross-border policing ties to target critics of China on Mongolian soil.
- The Observer: David Cameron urged to tell China to free Hong Kong publisher Jimmy Lai — Newspaper tycoon’s son seeks meeting with foreign secretary as Briton, 76, faces trial and possible life sentence.