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
- Americans Who Want to Do Business in China Need to Meet This Man — He Lifeng has a direct line to President Xi Jinping and is a gatekeeper to the world’s second-largest economy.
- Remy Cointreau Warns of Sales Plunge as U.S., China Woes Persist — The French distillery reported sales of €317 million for its second quarter, down around 16% organically.
- China Sets Date for Key Meeting at Center of Market’s Stimulus Hopes — Regulators have introduced a flurry of stimulus measures since late September.
- China’s Central Bank Holds Key Policy Rate Steady — The central bank had kicked off Beijing’s latest easing cycle with a blitz of rate cuts in late September.
The Financial Times
- China uneasy with North Korean troops in Russia — Deepening Moscow-Pyongyang ties could destabilise Korean peninsula and embolden US-led alliances in region.
- Chinese imports damage ‘dignity’ of Italian tomato, says Mutti chief — Boss of tomato sauce group urges Brussels to protect farmers hit by ‘unfair’ competition from China’s Xinjiang region.
- Opinion: China’s favourite tipple may finally shake off its hangover — Rebound in overseas sales and share buybacks could help Kweichow Moutai recover. By Lex.
The New York Times
- Opinion: ‘They Would Never Be Doing This Under Trump’: Two G.O.P. Foreign Policy Experts on What a Second Term Would Mean for the World — Former Trump officials Robert C. O’Brien and Eldridge Colby discuss potential policy toward China and other international issues. By Ross Douthat.
Caixin
- China Loosens Grip on Contract Manufacturing of Biopharma Products — A new pilot program allows drugmakers to outsource parts of the production process on more types of biologics, in a move expected to reduce costs and improve efficiency.
- Exclusive: Two Former Executives of China Electronics Technology Taken Away — Chen Zhaoxiong, an ex-chairman of the state-owned conglomerate, and Wu Manqing, a onetime general manager, have been hauled off by authorities, sources say.
- Tsingshan Quits Argentine Lithium Project to Refocus on Indonesian Nickel — Falling lithium prices force Tsingshan to shift strategic focus to Indonesian nickel project.
South China Morning Post
- Chinese space tourism set for 2027 take-off with aerospace firm offering US$210,000 seats — Deep Blue Aerospace sells 2 tickets for a trip it says features at least 5 minutes of weightlessness in outer space.
- Apple’s Tim Cook meets China’s commerce minister, the second regulator he met this week — Minister of Commerce Wang Wentao welcomed Apple to get more “deeply involved” in China, while Cook reiterated Apple’s commitment to the market.
- Chinese investment banks turn inward as global dreams fade from view — Exercising caution, China’s investment firms are scaling back their global ambitions and expanding through mergers instead.
- Beijing offers private firms more access to national projects and research — The move is part of efforts to reverse a prolonged downturn in business sentiment among private enterprises.
Nikkei Asia
- Chinese EV battery maker SVOLT to shut European operations — Leading electric vehicle component company to scale back amid trade spat.
- U.S. steps up export control enforcement efforts in Taiwan — Washington posts first regional officer in Taipei, continues Huawei probe.
- China to offer Taliban tariff-free trade, inches closer to regime — Afghanistan exported $64m worth of goods to China last year, mostly pine nuts.
- Kiribati holds presidential election with pro-China incumbent in focus — Taneti Maamau would solidify nation’s ties with Beijing if reelected, experts say.
- Chinese sportswear brands flood into Southeast Asia in search for growth — Companies use star athletes to capture market share amid fitness boom.
Bloomberg
- Mercedes Pledges Cost Cuts After China Slump Hits Margin — China’s economic slowdown has hit the German automaker hard.
- Western Brands Are Losing More Ground to Cheaper Chinese Rivals — China’s growing consumer frugality has led to yet another quarter of sluggish earnings for some global brands, but turbocharged growth for their local rivals.
- Record Defaults Hit $800 Billion Chinese Local Debt Market — Defaults in an opaque corner of China’s local debt market have surged to a record high, ensnaring investors who’d assumed the securities had an implicit guarantee from the state.
Reuters
- How an anxious China is backing Myanmar’s faltering junta in civil war — China has sealed the border and shut off key imports to territory under rebel control.
- Fearing China’s hypersonic weapons, US Navy seeks to arm ships with Patriot missiles —The U.S. military has made efforts to develop new strategies in the Indo-Pacific aimed at deterring Beijing from a conflict, or winning one if it occurs.
- Debt not on agenda of China’s top legislative body November meeting — There’s no mention on the agenda of highly anticipated debt and other fiscal measures.
Other Publications
- Los Angeles Times: $1.80 dinners and budget clothes? The spread of frugality is hurting China’s economy — One of the hottest topics on Chinese social media is how to save money.
- The Economist: How China is trying to win back foreign tourists — Come, spend, don’t worry about a visa.
- The Information: Chinese Apps Notch Early Wins in AI Video — Video generated by artificial intelligence is one area where China appears to be ahead of U.S. firms.
- Foreign Policy: America Needs Clear Standards for China Tech Decoupling — A new Washington consensus risks improvised and chaotic policy.
- Brookings: Where are the US and China on addressing climate change? — Challenges in the Sino-U.S. relationship have bled into the climate domain, deepening old obstacles and creating new ones.