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
- Chinese-Registered Ship Is Held in Baltic Sea Sabotage Investigation — Incident has triggered a multinational probe, and some officials say they suspect Russia’s involvement.
- China Is Building 30,000 Miles of High-Speed Rail—That It Might Not Need — The train system is one of the biggest public works in history, and it’s becoming a giant money pit.
- Baidu Revenue Falls Again as Advertising Demand Remains Weak — Sales from online-marketing services make up more than half of its overall revenue.
- Temu Owner PDD Posts Slowest Revenue Growth in More Than Two Years — The weaker-than-expected results came as PDD has this year warned of slowing growth.
- Alibaba Integrates E-Commerce Operations Into Single Business Group — The business group will integrate its domestic and overseas e-commerce platforms.
The Financial Times
- Will China win the clean-energy era? — Trump loves fossil fuels but his sidekick Musk wants a piece of the action.
- Chinese satellite company to challenge Musk’s Starlink in Brazil — Billionaire Trump ally had clashed with Brasília this year over alleged misinformation on X.
The New York Times
- Is Trump More Flexible on China Than His Hawkish Cabinet Picks Suggest? — President-elect Donald J. Trump is assembling a team of aides bent on confrontation with China. But he also has advisers who do business there, including Elon Musk.
Caixin
- Disgraced Exec at Sino-French Insurer Likely Tied to Corrupt ICBC Officials — Tao Zhongwei, a vice president at ICBC-Axa, is being investigated in a case likely linked to two fallen officials from state-owned banking giant, sources say.
- Nongfu Spring Founder Attacks Livestream Sales Model and Low-Price Platforms — Zhong Shanshan calls on government to intervene as low-price platforms damage price systems.
- Larger Stimulus Package Would Do More to Stabilize China’s Growth, Experts Say — Speakers at event on sidelines of Rio de Janeiro G20 summit call for China to implement a stimulus of a magnitude similar to that unleashed during the global financial crisis.
- How BMW, Audi and Mercedes Ended Up Also-Rans in China — The German auto giants were late to adapt to the shift to EVs and failed to recognize how competitive the domestic market had become, industry insiders say.
South China Morning Post
- As US rivalry intensifies, Chinese strategists call for new approach to nuclear deterrence — Scholars say it is time to shed Cold War concepts imported from the West and develop distinctly Chinese nuclear strategy.
- Meituan aims to launch drone deliveries in Hong Kong’s low-altitude economy — The meal delivery giant joins a slew of Chinese tech giants vying for new growth in Hong Kong.
- China warns overheated solar industry to cool the competition, curb backlash — Revised ministry guidance serves to pour cold water on a photovoltaic sector that is rife with overcapacity concerns.
Nikkei Asia
- Xi signals softer approach to Japan amid double whammy — Tense U.S. ties and ailing economy prompt Xi to meet Ishiba soon after his inauguration.
- How an Australian restaurateur helped revive Shanghai’s riverfront — New film portrays star role of Michelle Garnaut’s M on the Bund.
- China’s Oppo doubles down on Indonesia with expanded smartphone plant — Move comes as Jakarta slaps sales ban on Apple iPhone.
- Starbucks exploring sale of stake in China business — U.S. chain says it is eyeing ‘strategic partnerships’ under new CEO.
- Japan looks to China hawk Rubio in forging ties with Trump cabinet — Incoming national security adviser Waltz also seen as friendly to Tokyo.
Bloomberg
- Pentagon Chief Says China Declined Meeting During Asia Visit — The rebuke offered a reminder of the tensions that remain between the world’s two largest economies as Donald Trump prepares to take over the presidency.
- Chinese Premier to Meet Foreign CEOs as Trump Threat Looms — Global businesses are preparing for US President-elect Trump to make good on his campaign promise of a 60% tariff on all Chinese goods.
- Opinion: How the US Can Win the AI Race — The Trump administration and Big Tech can work together to keep the US ahead of China. By Vinod Khosla.
Reuters
- Xi and Lula elevate China-Brazil ties in state visit — The state visit in Brasilia capped a regional tour by Xi that showcased Beijing’s growing diplomatic clout during a tricky government transition in Washington.
- Bracing for Trump tariffs, China’s Xi makes diplomatic push at global summits — At meeting after meeting, Xi presented himself as a predictable defender of the multilateral global trade order.
- China advisers call for steady 5% 2025 economic growth goal, stronger stimulus — The ambition to sustain a growth pace that seemed difficult to reach throughout 2024, if confirmed, would surprise financial markets betting on a gradual slowdown.
- Huawei aims to mass-produce newest AI chip in early 2025, despite US curbs — The company will begin production in the first quarter of next year, even as it struggles to make enough chips due to U.S. restrictions.
- Lutnick’s China ties draw fire after Trump taps him to lead US in trade war — The financial ties raise questions about whether Lutnick could be unduly influenced by Beijing when making decisions about whether to impose fresh tariffs and export curbs on China.
Other Publications
- Foreign Policy: Trump 2.0 Could Give China a Headache in Southeast Asia — The region’s diverse governments may get along better with the new administration.
- Nature: China’s regional cities are now major players in world science — Provincial capitals such as Hefei are outscoring some established science cities in the Nature Index — here’s why.
- Wired: China’s Surveillance State Is Selling Citizen Data as a Side Hustle — Chinese black market operators are openly recruiting government agency insiders, paying them for access to surveillance data and then reselling it online—no questions asked.
- Scientific American: Trump’s Anti-Climate Agenda Could Boost China’s Global Power — Trump’s retreat from climate agreements and tech funding could help China dominate global clean energy markets.
- The Economist: Is China Really a Nation of Slackers? — A new survey raises the question.
- Foreign Affairs: The True Aims of China’s Nuclear Buildup — Beijing’s growing arsenal is meant to dissolve America’s alliance system in Asia.
- Brookings: Chinese spies and the security of America’s networks — The current cyberattacks are a clarion call that network security must be both a forethought in network design and an ongoing regulatory responsibility for the agency entrusted with oversight of the nation’s networks.
