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
- For Apple’s AI Push, China Is a Missing Piece — ChatGPT isn’t available in China, prompting Apple to seek local partner for its artificial-intelligence services.
- China Warns U.S. Lawmakers Over Meeting With Dalai Lama in India — The meeting with the exiled Tibetan spiritual leader comes on the heels of U.S. legislative efforts to lobby China over Tibetan freedoms.
- Xi Jinping Signals More Military Purges in Call for Corruption Crackdown — The campaign follows a purge of more than a dozen senior generals and defense-industry executives.
- China’s Central Bank Hints at Major Policy Shift — Pan also hinted at simplifying policy rates to allow a single short-term rate to play a bigger role in guiding banks.
- Opinion: India Could Help the U.S. to Tech Victory Over China — A promising partnership with a country that has a massive market and an impressive pool of talent. By Sadanand Dhume
The Financial Times
- Philippine video shows clash with Chinese coastguard injured soldier — Footage released by Manila reveals sharpest escalation yet over disputed Second Thomas Shoal.
- Vietnam’s ‘bamboo diplomacy’ triumphs with visits from Biden, Xi and now Putin — Hanoi cements growing importance in global supply chains by balancing relations between rival powers.
The New York Times
- Russia and North Korea’s Defense Pact Is a New Headache for China — The treaty raises the risk of confrontation in the region and could prompt the United States and its allies to bolster their military presence on China’s periphery.
- Spicy Noodles and Pickled Fish: Chinese Eateries Move Into Hong Kong — As the cultural lines between Hong Kong and China blur, restaurants from the mainland are finding opportunities in the city. But not everyone is happy.
Caixin
- In Depth: Maternity Wards Are Latest Victim of China’s Falling Birthrate — China’s hospital maternity wards have fallen victim to the record-low birthrate and are facing a similar fate as preschools as more and more wards close or downsize as demand for obstetrics declines.
- Boeing’s Setbacks Open the Skies for China’s C919 to Take Off — Boeing, once the undisputed leader in global aviation, is grappling with a series of setbacks that could help China’s burgeoning aircraft industry.
- China’s Cross-Border Ecommerce Platforms Try to Lure More Sellers With Better Terms — China’s major cross-border e-commerce players have been rolling out a new business model that could help merchants deliver goods faster and boost sales, as the platforms explore ways to attract more international suppliers amid greater regulatory scrutiny and fierce competition.
South China Morning Post
- China is rolling out the red carpet for venture capital in tech – and foreign funds are welcome — Venture capital funds, both foreign and domestic, are being encouraged to invest in China’s tech sector by the country’s State Council, and numerous incentives will be put in place to sweeten the deal.
- What the EU’s extra tariffs on China’s electric vehicles mean for carmakers in both markets — The provisional duties vary between 17 and 38 per cent depending on each carmaker’s level of cooperation with the European Commission’s anti-subsidy investigation. Here’s what you need to know.
- Europe’s EV battery hope fades as China pulls ahead while US subsidies undermine resources — China already has excess battery-making capacity, can make cells at a fraction of the cost it takes in Europe, and has a head start on the next generation of cell technology.
Nikkei Asia
- China to revamp tech-focused stock market as U.S. still dominates — With STAR lagging Nasdaq, regulators aim to unleash ‘new productive forces’.
- China tech: Two deaths on same day reignite work culture debate — Shopee and iFlytek cases latest examples of young workers dying suddenly.
- Analysis: Don’t misread Xi Jinping’s intentions at his big meeting — Politics will come before economics as it always has in China’s new era.
Bloomberg
- China Eyes Trade War Targets Across Europe for Retaliation — As in past disputes, China looks to be readying a series of actions to punish the European Union for its proposed tariffs on electric cars.
- China Has No Favorite in Biden-Trump Race, US Intelligence Finds — US spies believe China’s leaders see little or no upside to the looming electoral showdown between President Joe Biden and his predecessor Donald Trump.
- China’s Energy Use Per Person Surpasses Europe’s for First Time — China’s energy use per person surpassed Europe’s for the first time last year as demand from technology and manufacturing industries continued to climb.
- China’s LNG Boom Threatened by Growing Menu of Alternative Fuels — Cracks are appearing in the bullish picture for liquefied natural gas demand in China.
Reuters
- China says Dalai Lama must ‘thoroughly correct’ his political views — The Chinese foreign ministry said on Thursday that exiled spiritual leader of Tibetan Buddhism the Dalai Lama must “thoroughly correct” his political views as a condition for contact with China’s central government to resume.
- India shuns China’s calls to resume passenger flights after 4 years, officials say — China is pressing India to restart direct passenger flights after a four-year halt, but New Delhi is resisting as a border dispute continues to weigh on ties between the world’s two most populous countries, officials said.
- Most Japan firms see no need to follow the U.S. with tariffs on China, Reuters poll finds — Most Japanese companies see no need for their government to follow the U.S. in raising tariffs on Chinese imports, saying excessive production capacity in China’s industrial sector does not affect them, a Reuters survey showed on Thursday.
Other Publications
- The Economist: China and Russia have chilling plans for the Arctic — The two autocracies dream of creating a “polar silk road.”
- Foreign Policy: What the United States Can Learn From China — Amid China’s rise, Americans should ask what Beijing is doing right—and what they’re doing wrong.
- Associated Press: Philippines demands China return rifles and pay for boat damage after hostilities in disputed sea — The Philippine military chief demanded Wednesday that China return several rifles and equipment seized by the Chinese coast guard in a disputed shoal and pay for damages in an assault he likened to an act of piracy in the South China Sea.
- CNBC: A marathon, not a sprint: Apple’s AI push faces big challenges in China — big artificial intelligence push faces some big challenges in China — one of the iPhone maker’s most critical markets — as Beijing maintains strict rules around the buzzy technology.
- MIT Technology Review: I tested out a buzzy new text-to-video AI model from China — Cracks are appearing in the bullish picture for liquefied natural gas demand in China.
