The Wall Street Journal
- China Car Sales Make Strong Start to Year But May Slow on Weak Sentiment — China’s vehicle sales made a strong start to the year but subdued consumer sentiment during the Lunar New Year period could put the brakes on momentum.
- In China, Deflation Tightens Its Grip — China’s deflation problem is getting worse, a stark symptom of a deepening economic malaise that spells trouble for the global economy.
- American CEOs Visiting China Can’t Escape It: They Have to Dance on Stage — Western business executives are often expected to sing or boogie for employees at company events; it’s ‘fun to watch your boss dance.’
- Amazon’s Newest Competitors Are Stepping Into Its Territory—Literally — Shein and TikTok are expanding in Amazon’s backyard and recruiting its employees.
The Financial Times
- Chinese equity flows turn positive as Beijing signals support — Banks and brokers were buyers of stocks, while state-backed institutions were also likely to be purchasers, say traders.
- America should not allow its trade programme with Africa to die — Growth and Opportunity Act should be reimagined and made fit for an era of renewed great power competition.
- China’s prices fall at fastest rate in 15 years as economy battles deflation — Analysts warn prolonged price declines will undermine business and consumer confidence.
- Hong Kong’s Messi backlash says more about digital fandom than football — The meltdown was a revealing moment for the game as global entertainment — and its vulnerability to social media.
- Lionel Messi apologises for Hong Kong no-show after Chinese backlash — Social media commentators’ fury grows after Argentine football star played match in Japan a few days later.
The New York Times
- China Deflation Alarms Raised by Falling Prices for Food and Cars — In addition to consumer price declines in January, wholesale prices fell last month, and have been down in every month since October 2022.
- Two Cases Aim to Cut Off China and Iran From U.S. Technology — In one case, material stolen from a private company would help the development of technology to track ballistic and hypersonic missiles, U.S. officials said.
- For First Time in Two Decades, U.S. Buys More From Mexico Than China — The United States bought more goods from Mexico than China in 2023 for the first time in 20 years, evidence of how much global trade patterns have shifted.
Caixin
- Banks Hand out Lifelines to Whitelisted Property Projects — $2.5 billion loans extended to 83 real estate developments handpicked by local authorities to help revive housing market.
- China’s Finance Ministry Official Wang Kebing Appointed as Vice President of Policy Bank — CBD appointment comes after corruption scandal saw several high-ranking officials sent to prison for taking bribes.
- Embattled Developer R&F Offloads London Project for Debt Relief — R&F Properties to sell London development project for $13 cents to trim its growing debts by $800 million.
- China’s Software Service Providers Bet on AI Amid Funding Chill — As downtrodden investors pull back from much of the sector, one niche is still attracting capital: software as a service (SaaS) combined with artificial intelligence (AI).
South China Morning Post
- China’s top legislative body to discuss ‘appointments and dismissals’ amid military purge — The National People’s Congress Standing Committee signals a further shake-up following the dismissal of senior generals and former defence minister Li Shangfu.
- Houthi Red Sea crisis serves China’s main goal: undermining the US — For China, the easiest and most politically convenient response to the current Middle East crisis lies not in joining the US but blaming it. Beijing’s position of a two-state solution as a precondition to solving the Gaza crisis is unlikely to be realised but achieves the goal of undermining Washington.
- China’s seed industry at least a generation behind as Western giants enter ‘Industry 4.0 Era’, must increase collaboration — Overseas seed giants are utilising big data, artificial intelligence and gene editing, with Chinese firms focusing on molecular breeding, the China Seed Association says.
- China inflation: demand-led reflation ‘may yet take hold’ as consumer prices suffer steepest fall since 2009 — China’s consumer price index (CPI) fell for the fourth consecutive month in January, adding to deflation woes, while factory-gate prices declined for the 16th straight month.
Nikkei Asia
- Xi aims anti-graft purge at China’s military on eve of centenary — Chinese President Xi Jinping is pressing forward with an anti-corruption campaign against the military by encouraging personnel to blow the whistle on themselves and others.
- U.S., Japan and South Korea scale back trade reliance on China — The U.S., Japan and other major economies have curbed their reliance on China since the trade war between Washington and Beijing began five years ago, casting a shadow over global economic growth.
- Huawei rolls out ultrafast EV chargers in China, taking on Tesla — Huawei Technologies plans to install 100,000 fast EV-charging stations in China this year, including units more than twice as fast as Tesla’s, providing infrastructure that could give a boost to fast-charging vehicles from Chinese automakers.
- EU raises ante on emissions cuts with eye on China rivalry — The ambitious climate plan recently unveiled by the European Union appears to double as a call to bolster the region’s renewable energy industry against competition from low-cost China.
Bloomberg
- China Is Oversupplied With Commodities as Deflation Persists — China’s commodities markets are heading into the Lunar New Year break on a glum note, with deflation embedded on both the consumer and producer sides of the economy.
- Xi Can’t Use 2015 Playbook to Calm China Markets, Investors Say — China’s efforts to arrest a $7 trillion stock market rout are evoking memories from 2015, when Beijing took drastic steps to stem a crash.
- Chinese Hackers Embedded in US Networks for at Least Five Years — The Chinese state-sponsored hacking group known as Volt Typhoon has been living in the networks of some critical industries for “at least five years,” according to a joint cybersecurity advisory issued by the US and its allies on Wednesday.
Reuters
- One year on, a star Chinese dealmaker’s absence casts pall over his bank — Bao’s resignations show the firm, which has seen headcount shrink over the past year, is taking some steps to distance itself from Bao as it tries to mitigate the impact of the investigation, one of the sources said.
- Signs of rare unrest among North Korean workers in China, researchers say — As many as 3,000 North Korean workers in China staged protests last month, according to two South Korean government-affiliated researchers, including a former North Korean diplomat.
- For China’s new globetrotters, group tours are out and Northern Lights are in — While a record high number of Chinese will be holidaying at home amid a lacklustre economy, a smaller, wealthier but still significant number of people are opting for adventure, gourmet or cultural holidays abroad.
Other Publications
- The Information: Inside Amazon, Temu’s Rise Prompts Soul Searching — Amazon’s executives pride themselves on their obsession with customers rather than competitors. A year ago, though, the head of Amazon’s e-commerce business, Doug Herrington, had one Amazon competitor very much on his mind.
- The Economist: China’s stockmarket nightmare is nowhere near over — The situation ought to worry Xi Jinping.
