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 Flood of Cheap Goods Is Angering Its Allies, Too — Torrent of exports to the developing world is causing factories to close and killing jobs.
- China Tightens Curbs on Exports of Materials With Chip-Making Applications to U.S. — Restrictions apply to materials including gallium, germanium, antimony.
- Pakistan’s Reliance on Chinese-Built Power Plants Is Strangling Its Economy — Pakistan turned to Beijing to solve a crippling energy shortage. Now, crushed under debt and sky-high energy prices, its economy is spiraling.
- Sanofi to Invest $1.05 Billion in New Insulin Manufacturing Base in China — The Paris-based company has been in the Chinese market for over 40 years.
- Singapore College Students’ Toughest Test Is Dodging Chinese Tourists — Universities draw gawking travelers, annoying scholars; ‘like observing zoo exhibits.
- Tesla’s China Sales Fall as Competition Heats Up — Electric passenger car sales in China last month rose 51% on year, CPCA estimates.
- China’s Central Bank Pledges Supportive Policies For Economy — It vowed to reduce financing costs for companies and households next year.
The Financial Times
- China retaliates against latest US chip restrictions — Beijing bans export of materials used in semiconductors and batteries.
The New York Times
- China Announces a Ban on Rare Minerals to the U.S. — The move comes a day after the Biden administration expanded curbs on the sale of advanced American technology to China.
- From Chinese Patriot to American Spy: The Unusual Life of John Leung — He had been hailed by Chinese state media as a model for his efforts to promote Beijing’s interests in the United States. He was in fact an F.B.I. informant.
Caixin
- BRICS Pay Cross-Border Payment System Exposed as Hoax by Crypto Currency Promoters — Chinese authorities deny any involvement in BRICS Pay pilot project.
- Amid China’s EV Boom, Conventional Carmakers Cry Foul — Some manufacturers complain that state support for their electric rivals means they can’t compete on a level playing field.
- The Commodity Giant That Went From Boom to Busted — Cedar executives who oversaw a sprawling trade chain now face criminal fraud charges.
- China’s Rules for Foreign-Owned Hospitals Limit Access to Genetic Data — Foreign institutions are also banned from treating psychiatric and infectious conditions, and must hire half of staff from the mainland.
- Analysis: How China Can Prepare for Trump’s Return — Policymakers should keep in mind that the president-elect’s enthusiasm for tariffs will likely fall if they increase the cost of living for Americans.
South China Morning Post
- US importers race to prepare for Donald Trump’s threatened tariffs — Port customers are said to ask: ‘How much cargo can I bring in before warehouses start busting at the seams?’
- China’s Xinjiang eyes closer ties with Pakistan and Central Asia to offset US sanctions — Far west region boosts role as belt and road gateway by opening Pakistan border for the winter and growing ties with Kazakhstan’s Zhetysu.
- Opinion: China has granted visa-free entry to Japan, South Korea. What does it want in return? — Unilateral move comes as Beijing faces headwinds both within and without, including fears about the destabilising effect of the incoming U.S. leader. By Shi Jiangtao.
Nikkei Asia
- China’s BYD marks 30th year by chasing 4m car milestone — The EV maker dominates its home market but only sells about 10% of its vehicles abroad.
- EU shuts out Chinese hydrogen equipment from subsidy program — Effective ban seeks to shield industry after struggles in solar and wind.
- German foreign minister’s China trip highlights shaky ground under ties — Annalena Baerbock presses Wang Yi on Ukraine ahead of Germany’s elections.
- China and Nepal sign deals as Xi refines BRI commitments — Beijing pushes for better infrastructure connectivity with its landlocked neighbor.
- China deflationary pressures send benchmark bond yield to new low — Onshore yuan falls to lowest point in more than year despite stimulus packages.
Bloomberg
- Big Pharma’s Bet on China Biotech Is a Rare Trade Bright Spot — Drugmakers spent $3.15 billion on China molecules in 2024, but the coming Biosecure Act leaves deals likely to face more scrutiny.
- The Youth Are ‘Lifeless’: Economist’s Speech Goes Viral in China — Gao Shanwen suggested labor market woes hurt young people more, and his speech trended on social media for its unusual candor.
- China Ends Last Australia Meat Processor Bans, Albanese Says — The prime minister said the announcement paved the way for a full resumption of beef exports to China.
Reuters
- After decades, China sputters as engine of global oil demand growth — Producers and investors face the prospect that Chinese crude imports are nearing their peak.
- Explainer: After China’s mineral export ban, how else could it respond to U.S. chip curbs? — These are steps that analysts say Chinese authorities might take to safeguard China and its companies’ interests.
Other Publications
- The Washington Post: Biden visiting an African region critical to the U.S.-China rivalry — The president arrived Monday in Angola, his first trip to Africa as president and one of his final foreign trips in office.
- The Washington Post: Starbucks and Nestlé face scrutiny over labor practices in China — ‘Ghost’ coffee farms in Starbucks’ and Nestle’s supply chains in China are overworking farmers and allowing underaged labor, China Labor Watch has found.
- CFR: Protecting U.S. Allies and Partners from Chinese Economic Coercion — China’s growing willingness to defy the international order, and its increasingly aggressive leadership, have led it to increasingly utilize economic coercion against countries it believes have defied its interests.
- CSIS: Ending the Strategic Vacuum: A U.S. Strategy for China in Latin America — The Trump administration could place the United States on a more competitive path with China in the region.
