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
- Taiwan Election Piles Pressure on Delicate U.S.-China Ties — Victory by Lai Ching-te, seen by China as a dangerous separatist, will test efforts by Biden and Xi Jinping to steady relations.
- Boeing’s Pile of Problems Gets Bigger as a Crucial Buyer Hesitates — More safety checks are being planned on undelivered planes to China following the Alaska Airlines blowout.
- Taiwan Loses Another Diplomatic Partner in Wake of Presidential Vote — Tiny island nation of Nauru says it is switching recognition from Taipei to Beijing, shortly after Taiwan chose new president disliked by China.
- Peace and Prosperity in the Taiwan Strait Still Have a Chance — Taiwan has more chips to play than many think before conflict becomes inevitable.
- A Potential Mega-IPO Is in U.S.-China Crosshairs — Shein’s listing plans likely depend on the fashion giant’s ability to satisfy both Beijing and Washington.
- Chip Wars Boost Europe’s Top Tech Company—for Now — ASML’s monopoly in the world’s most sophisticated chip-making equipment has turned it into both an investor darling and a geopolitical battleground.
The Financial Times
- Taiwan loses diplomatic recognition of Nauru in wake of election — Pacific nation cuts ties with Taipei in favour of Beijing after Lai Ching-te elected president.
- Petrochemical glut makes new plastic cheaper than recycled — Surge in manufacturing in China and US leads to oversupply of products such as polyethylene.
- US delegation heads to Taiwan after voters defy China — Two former officials sent by President Joe Biden will arrive in island state later on Sunday.
- What Taiwanese voters’ defiance means for China — Beijing focuses on fall in support for the DPP even though the party it views as separatist won the election.
- ‘Gold bars and Moutai’: TV series spotlights China’s corrupt officials — Critics say primetime documentary celebrating Xi Jinping’s campaign against endemic graft overlooks its systemic roots.
- Opinion: Wall Street banks are trying not to upset China on listings — Bankers say language of IPO risk factors in prospectuses of Chinese companies has been toned down. By Kaye Wiggins
The New York Times
- Apple Will Discount iPhones by $70 in China Starting Thursday — Facing a weak consumer appetite and fierce competition from domestic rivals amid U.S.-China tensions, a typically discount-wary Apple is offering a four-day sale.
- Flush With Investment, New U.S. Factories Face a Familiar Challenge — Worries are growing in Washington that a flood of Chinese products could put new American investments in clean energy and high-tech factories at risk.
- Taiwan Loses Ally Nauru After Electing President Beijing Loathes — The tiny Pacific island of Nauru severed relations with Taiwan, a move that boosts China’s regional sway and was seemingly timed to Taiwan’s contentious recent election.
- How Taiwan’s Election Fits Into the Island’s Past, and Its Future — Tensions over the island’s status have flared repeatedly for decades, especially as Washington’s relationship with China has grown more strained.
- China Failed to Sway Taiwan’s Election. What Happens Now? — Beijing loathes the new president, Lai Ching-te. He aims to protect the status quo with caution and American help, but tensions are likely to rise.
Caixin
- Exclusive: Guotai Junan Securities to Promote New President — Finance veteran Li Junjie is set to take over as president of Guotai Junan Securities Co. Ltd amid a leadership reshuffle at one of China’s largest securities companies, sources with knowledge of the matter told Caixin.
- CATL Bolsters Beijing’s EV Industry Ambitions With New Battery Plant — CATL plans to build a plant in Beijing this year, according to the city’s economic planner, a move that comes as the battery giant aims to bolster its manufacturing capabilities to meet the growing demand for new-energy vehicles.
- Cover Story: Feed Giant New Hope Navigates Downside of Boom-Bust Cycle — New Hope Liuhe Co. Ltd poured money into expansion. Now, 12 months into a cycle of falling prices, the pig farming concern is seeing losses instead of profits and embarking on a retrenchment to regain its footing.
South China Morning Post
- US group urges Taiwan’s Lai to keep calm and carry on with the cross-strait status quo — Former White House officials offer support for island’s next administration following the DPP’s win in the weekend’s presidential election.
- Taiwan-mainland China investment plunges to 22-year low as politics plague ties — With cross-strait relations at their frostiest in years, Taiwan reported historic lows for two-way investment with mainland China – but some companies are still attempting to set up or continue operations.
- Stanford students win hearts in China with US$32,000 household robot that can cook shrimp and wash pans — A video showing the two-handed Mobile Aloha robot cooking a three-course meal has gone viral on Chinese social media.
Nikkei Asia
- Chinese are shifting work-life balance toward ‘life,’ poll shows — Survey reveals more focus on hobbies, less on job skills since pandemic.
- Chinese sales of bonds backed by bad bank loans hit new high — Flurry of issuance fails to reassure investors worried about credit quality.
- Opinion: New Zealand’s new PM isn’t going back to old ways on China — Luxon’s pro-business instincts tempered by coalition partners. By Derek Grossman
Bloomberg
- The Future of US-China Climate Talks After John Kerry and Xie Zhenhua — John Kerry and Xie Zhenhua have left their successors plenty to work with, but their challenges are already starting to mount.
- BMW’s China Partner Is Said to Mull Joint Venture Stake Sale — Owners of BMW AG’s carmaking partner in China are considering options to raise funds, including selling the company’s stake in its joint venture with the German manufacturer, according to people familiar with the matter.
- China Delays Restart of 737 Max Deliveries Amid Safety Checks — China’s aviation regulator has temporarily halted the restart of 737 Max jet deliveries to the nation, according to a person familiar with the matter, as Boeing Co. grapples with a raft of safety issues.
- Xi Has Few Good Options After Winnable Taiwan Vote Slips Away — The moment Chinese President Xi Jinping’s prospects fell apart for a favorable outcome in Taiwan’s election came not this weekend, but at a luxury hotel in downtown Taipei on a Thursday evening in November.
Reuters
- China’s military and government acquire Nvidia chips despite US ban — Chinese military bodies, state-run artificial intelligence research institutes and universities have over the past year purchased small batches of Nvidia semiconductors banned by the U.S. from export to China, a Reuters review of tender documents show.
- Former China Everbright Group chairman arrested on suspicion of corruption -state media — A former chairman of state-owned financial conglomerate China Everbright Group, Tang Shuangning, was arrested on suspicion of taking bribes and corruption, state media reported on Monday, citing China’s top prosecutor.
- China, Switzerland sign declaration with view to expanding trade — China and Switzerland signed a joint declaration on Monday agreeing to deepen their partnership after Premier Li Qiang met the Swiss President, the Swiss government said.
Other Publications
- Associated Press: Horse racing in China’s gaming hub of Macao to end in April, after over 40 years — The government in China’s gambling hub of Macao said Monday that after more than 40 years, there will be no more horse racing in the city and announced plans to terminate its contract with the city’s jockey club in April.
- POLITICO: A big Chinese delegation unnerves U.S. diplomats in Davos — A U.S. ambassador wants to make sure Secretary of State Antony Blinken sees a Swiss official, too.
- The Information: The Electric: Are Western Companies Surrendering Sodium-Ion Batteries to China? — In recent weeks, two Chinese automakers have released sodium-ion–powered electric vehicles that eliminate lithium, the metal that has powered the EV revolution, a head-spinning signal of a new age in the industry.
- The Guardian: ‘It’s difficult to survive’: China’s LGBTQ+ advocates face jail and forced confession — Trans and queer people and their supporters suffer ‘systemic persecution’ as country pushes increasingly conservative values.
