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’s Stimulus Barrage Draws Out Cautious House Hunters — Home viewings and sales jumped in China’s biggest cities during a recent holiday period—but hesitancy remains after a yearslong slump.
- U.S. Officials Race to Understand Severity of China’s Salt Typhoon Hacks — In letters to AT&T, Verizon and Lumen, lawmakers ask about proposed measures the companies will take to protect U.S. wiretap systems.
- High Hopes for China Stimulus Ahead of Weekend’s Briefing — Expectations are high heading into the event, which could introduce the fiscal stimulus analysts say has been missing.
The Financial Times
- EU plywood dumping probe opens new front in China trade dispute — Investigation into cheap wood exports follows producers’ claim the products originated in Russia.
- ‘Cutting leeks’: Beijing sparks a retail stock trading frenzy — Small investors have piled into Chinese equity markets but many have already been burnt by wild price swings.
The New York Times
- Taiwanese Employees of Foxconn, the Apple Supplier, Detained in China — Taiwan’s government said that they had been accused of a breach of trust, but that their employer, Foxconn, had denied the company suffered any losses.
- Tourism Has Rebounded Worldwide. But Not in Hong Kong. — In 2018, Hong Kong received a record 65 million tourists. In 2023, it welcomed a little more than half that.
Caixin
- China’s Provinces Race to Secure a Share of $28.2 Billion National Investment Fund — Local governments spring into action as China’s top planners announce release of $28.2 billion in development funding.
- China’s Holiday House Sales Surge Met by Cautious Optimism — Holiday real estate sales boom welcomed but some fear it may prove a flash in the pan.
South China Morning Post
- Chinese scientists hack military grade encryption on quantum computer: paper — Breakthrough poses a ‘real and substantial threat’ to password-protection mechanism employed across critical sectors, Shanghai University researchers say.
- Apple opens its ‘most extensive’ lab outside US in China amid fierce rivalry with Huawei — The new facility in the Hetao Shenzhen-Hong Kong tech cooperation zone is one of several Apple research centers in China.
- China curbs ‘excessive’ law enforcement in quest to quell private sector doubts — Law enforcement practices that have raised the hackles of private businesses in China coming under fire from top officials.
Nikkei Asia
- China’s cooling stock market raises pressure for next stimulus round — CSI 300 slips further ahead of Saturday briefing on ‘intensifying fiscal policy.’
- China races to outflank Elon Musk’s Starlink satellite internet service — Beijing eyes reusable rockets as concerns rise over possible ‘Great Firewall’ in orbit.
Bloomberg
- China Seizes Initiative at Key Asian Summit Ahead of US Election — China announced a slate of new agreements to advance economic links with Southeast Asia.
- China Seeks Carbon Data From Ships as Trading Scheme Grows — Authorities in China have started to ask some overseas shipowners to report on their carbon emissions, a move that could help in China’s expansion of its emissions-trading system to cover shipping.
Reuters
- French brandy producers brace for impact of EU-China trade dispute — Many cognac producers fear the industry will be sacrificed by Brussels and the French government to ring-fence Europe’s much larger car industry from cheap Chinese-made EVs.
- China, Vietnam set to sign deals on railway links, agriculture, sources say — China and Vietnam are expected to sign new agreements, including pacts to boost railway links and agricultural trade, during Chinese Premier Li Qiang’s visit to Hanoi this weekend.
Other Publications
- Associated Press: An ex-judge from mainland China is set to take Macao’s top job — Some 400 pro-establishment electors are set to approve the sole candidate for Macao’s chief executive job on Sunday, making him the Chinese casino hub’s first leader born in mainland China.
- The Athletic: Five years after fallout, Adam Silver believes NBA will return to China — The NBA has not played a game there since 2019, when two preseason games were held in the shadow of controversy after a tweet by then-Houston Rockets general manager Daryl Morey in support of freedom for Hong Kong.
- CSIS: Crossroads of Commerce: How the Taiwan Strait Propels the Global Economy — Disruptions to trade through the strait would send shockwaves well beyond Taiwan and China, impacting key U.S. allies and broad swaths of the Global South.
- The Economist: China is writing the world’s technology rules — It is setting standards for everything from 6G to quantum computing.
- Foreign Policy: Germany Is Hardening Its Supply Chains Against Chinese Control — Berlin has finally realized a globalized world is also a risky one.
