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 Gives Business Leaders Sunnier View of Its Economy on Island Getaway — Messages delivered at the Boao Forum for Asia were more upbeat than the gloomier views often expressed by economists overseas.
- China Vanke Warns Earnings Could Remain Strained — The company said it aims to reduce its interest-paying debt by CNY100 billion in the next two years.
- Agricultural Giant Syngenta Withdraws IPO Application in China — The Shanghai Stock Exchange stopped the review process on Friday.
- Xiaomi Prices First EV Competitively, Seeks Pole Position in Crowded Market — Xiaomi is selling the standard entry-level version of its four-door sporty sedan for $29,871.19, which it says is much cheaper than the equivalent Tesla vehicle.
- Country Garden Delays Annual Results, Expects Trading Suspension — The company said trading in its shares are set to be suspended in Hong Kong from Tuesday, pending the publication of the annual results.
- Huawei Stages Comeback With Annual Net Profit More Than Doubling — Chinese tech giant says all of its business segments reported higher revenue in 2023.
The Financial Times
- Syngenta calls off $9bn Shanghai listing — Swiss company’s initial public offering would have been China’s largest in years.
- China’s Xi plays salesman-in-chief in meeting with US CEOs — Chinese leader sought to persuade visiting businessmen that country still a good investment.
- China’s Vanke vows to cut debt by $14bn as property woes mount — Nationwide slowdown hit sales and profits halved last year.
- Netflix adaptation of sci-fi novel ‘The Three-Body Problem’ sparks anger in China — Western take on much-loved Chinese bestseller hits wrong notes for state media and broader audience.
- China’s smartphone maker Xiaomi bets on EVs even as Apple pivots — Weeks after the tech giant abandons car project, Chinese tech company debuts model that out-accelerates Tesla and Porsche.
The New York Times
- Taiwan’s Top Diplomat Says U.S. Aid to Ukraine Is Critical for Deterring China — Foreign Minister Joseph Wu said in an interview that a Russian victory could embolden China to move against Taiwan and would fuel anti-American propaganda.
- As Relations Thaw, China Lifts Tariffs on Australian Wine — Despite its thirst for Australian wine, China had taxed the imports in 2020 over a dispute about Covid-19.
- Opinion: Bidenomics Is Making China Angry. That’s OK. — China just filed a complaint with the World Trade Organization about the Inflation Reduction Act, which, despite its name, is at its core an attempt to fight climate change by subsidizing the transition to a low-emission economy. By Paul Krugman

Caixin
- Exclusive: China Development Bank Taps Fellow Policy Lender for New Vice President — Chen Mengmeng, president of the Shandong branch of the Agricultural Development Bank of China, is slated to become a vice president of fellow policy lender the China Development Bank, sources told Caixin.
- Exclusive: China Development Bank’s Chongqing Chief Appointed VP of ‘Big Four’ Bank — Li Jianjiang, president of policy lender the China Development Bank’s (CDB) Chongqing branch, has been appointed an executive vice president of China Construction Bank Corp., one of the country’s “Big Four” state-owned banks, sources with knowledge of the matter told Caixin.
- TikTok’s High Stakes Battle Against U.S. Ban Threatens Worldwide Expansion — TikTok is desperately lobbying in Washington to stop a bill that would force a sale of the popular short-video app by its Chinese owner ByteDance or face a ban in the U.S.
South China Morning Post
- China reports more trips by foreign travellers in first 2 months of 2024 as visa-free policies take effect — Foreigners make 2.95 million trips to and from China in January and February, more than double the amount in the previous two-month period, with increase in visitors from France, Germany, Singapore and other countries covered by new visa rules.
- Chinese education giant XJ International hit with winding up petition after defaulting on US$324 million bond — One of China’s largest private education operators, XJ International, formerly Hope Education Group, is facing a winding up petition brought by international bondholders after it failed to meet a repayment deadline.
- Huawei posts 9.63% rebound in sales for 2023, driven by popularity of Mate 60 series 5G smartphones that defied US sanctions — Huawei reported a rebound in sales growth for 2023, driven by strong sales of its high-end Mate 60 series 5G smartphone, as the sanctions-hit company continues to face US scrutiny for its chip breakthrough.
Nikkei Asia
- TikTok sell-or-ban bill heads to Senate: What’s next? — A total ban in the U.S. would prove difficult while Beijing could block a sale.
- Thailand’s low-key deportations to China latest scamdemic twist — Beijing-driven clampdown on Myanmar could force regional crime shift.
- Australia doubles down on rare earths despite Chinese dominance — Ambitious strategy to boost role in critical minerals confronts market challenges.
Bloomberg
- Syngenta Pulls China IPO Application After Three-Year Wait — Syngenta Group withdrew its long-delayed application for a $9 billion initial public offering in Shanghai, another blow to China’s equity markets after Alibaba Group Holding Ltd. this week scrapped the listing of its logistics arm.
- Former Australia PM Scott Morrison Says China Can Be a Democracy — Former Australian Prime Minister Scott Morrison has dismissed the idea that China is unable to become a multiparty democracy, saying there is no “anti-democratic” instinct in the Chinese people.
- China’s Solar-Sector Battle Puts Quality at Risk, Longi Says — The fierce competition sweeping China’s solar sector is threatening the quality of production at some companies, as plunging profits trigger a scramble to cut costs, according to a top industry executive.
Reuters
- China’s red carpet draws CEOs but few expect their money to follow — China’s government devoted the week to a red carpet welcome for foreign executives to try to halt a retreat in corporate investment from a market once seen as the engine of global growth.
- US may soon unveil list of Chinese chip factories barred from receiving tech — The United States is drawing up a list of advanced Chinese chipmaking factories barred from receiving key tools, three people familiar with matter said on Thursday, to make it easier for companies to stem technology flows into China.
- With China EV launch, Xiaomi’s ‘Thor’ takes on Elon Musk — With the launch of a much-hyped and against-the-odds electric car, Lei Jun, Xiaomi’s co-founder and CEO, is taking on Elon Musk with a strategy that takes a page from Tesla’s playbook.
Other Publications
- CNBC: TikTok makes $2.1 million TV ad buy as Senate reviews bill that could ban app — TikTok has launched a $2.1 million advertising campaign as senators review a House-passed bill that could ban the popular social media app.
- Associated Press: Migrant workers who helped build modern China have scant or no pensions, and can’t retire — As they grow older, the first generation of migrant workers is struggling to find jobs in a slowing economy. Many are financially strapped, so they have to keep looking.
- Washington Post: China is all in on green tech. The U.S. and Europe fear unfair competition. — China produces 80 percent of the world’s solar panels — compared with the United States’ 2 percent — and makes about two-thirds of the world’s electric vehicles, wind turbines and lithium-ion batteries.
- Foreign Policy: A Family Feud in the Philippines Has Beijing and Washington on Edge — Rodrigo Duterte and Ferdinand Marcos Jr. are battling over the country’s future.
- The Guardian: Western governments struggle to coordinate response to Chinese hacking — Experts say UK-imposed sanctions will make no difference when hacking is part of ecosystem of dealing with Beijing.