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 Lets European Investigators Board Ship Suspected of Sabotage After Weeks of Secret Talks — Beijing agrees to allow Swedish police and accident investigators aboard Yi Peng 3, but only if Chinese officials are present.
- Corruption in China’s Military Threatens Its Readiness, U.S. Says — Pentagon assessment says Xi Jinping’s crackdown on fraud might delay efforts to turn China’s military into a 21st-century force.
- Supreme Court to Consider TikTok Ban — Justices to hear oral arguments next month, days before ban is supposed to take effect.
- Ant Group Warns Against ‘False’ IPO Rumors — Ant is owner of the widely used digital-payment platform Alipay.
The Financial Times
- Reeves to take UK bankers to China as she seeks closer business ties — Chancellor has been accused by the Tories of ignoring security concerns about Beijing.
- China is rapidly expanding nuclear forces, says Pentagon — US defense department reports that Beijing has increased its operational nuclear warhead arsenal by 20 percent in a year.
- Trump’s tariff threat adds to fears over China growth — Exports have buoyed economy but are expected to slow sharply if US imposes further levies in 2025.
- Segantii founder Simon Sadler pleads not guilty to insider dealing in Hong Kong — Hedge fund manager could face prison sentence in high-profile criminal case.
- Italy’s Azimut and China Universal team up on Abu Dhabi ETF link — Azimut will launch a fund in Abu Dhabi to invest in a China Universal ETF in Shanghai and vice versa.
- Opinion: The wondrous gift of open trade is given — Flexible economies and free markets have kept globalisation going this year. By Alan Beattie.
The New York Times
- China’s Nuclear Buildup Is on Track Despite Graft Scandals, Pentagon Says — Corruption investigations may have shaken Beijing’s confidence in top commanders, but China’s military expansion hasn’t slowed, a report found.
- Man Who Ran Secret Police Office in New York Admits He Was Chinese Agent — Chen Jinping used the office in Lower Manhattan to quash dissent against the Chinese government. The Justice Department is fighting Beijing’s efforts to wield its influence secretly.
- G.M. Led in China for Years. Here’s How It Ended Up 16th in Sales. — General Motors has gone from market leader to also-ran in the world’s largest car market, stymied by its own missteps and Chinese policies that favored its local rivals.
- Starbucks Has a Pumpkin Spice Latte Problem in China — For years, Starbucks was the dominant coffee chain in China. Now rivals offering local flavors and cheaper prices are crushing the company’s bottom line in its second-largest market.
- Chinese Spacewalk Apparently Breaks a Record (Barely) — China said two of its astronauts spent nine hours outside the Tiangong Space Station. The longest previous spacewalk, by Americans, was eight hours and 56 minutes.
- As China Seeks Influence, It Has a Cuddly Way Into City Hall: Pandas — Records and interviews show that Beijing has used pandas as leverage to shape policy on Taiwan and to cultivate relationships with local U.S. politicians.
- Here Are 4 Reasons China Meddles in Local U.S. Politics — American intelligence agencies have warned of influence operations targeting city halls and statehouses. But what’s in it for Beijing?
Caixin
- China Expands Cross-Border Funding Pilot Program for Multinationals — Ten provinces and cities included in China’s pilot that streamlines cross-border fund management for global companies.
- Strengthening China Ties Would Bolster Malaysia’s Chip, Renewables Supply Chains, Minister Says — Describing China as a ‘close neighbor,’ Rafizi Ramli notes ‘the closer and better your neighbors become, the more resilient your supply chain will be in the long run.’
- Why Depression Goes Undertreated Among China’s Seniors — Late-life depression is a common mental health disorder that is often misdiagnosed as an age-related physical illness.
- China’s Blood Sugar Tracking Device-Makers Come Down Off a High — The once-promising domestic market for continuous glucose monitors has been undermined by a vicious price war and bureaucratic hurdles to sell in hospitals.
South China Morning Post
- Superpower showdown: how U.S.-China economic warfare could play out under Trump — As U.S. president-elect Donald Trump forms his hawk-filled cabinet, what might China do to counter and deflect a barrage of blows?
- China’s EV champion Geely bets on tech edge to expand in Asia, EU — In an interview with the Post, Geely CEO Gui Shengyue discusses the company’s overseas strategy and EU tariffs.
- China stands behind Somalia amid U.S. push for Somaliland recognition — With U.S. Republicans backing recognition of Somaliland, a top Chinese diplomat has visited Mogadishu to offer Beijing’s support.
Nikkei Asia
- China’s BYD, Nio do more with AI-powered humanoid factory robots — Automatons move beyond fixed roles to mobile tasks, quality control.
- Argentina, Brazil eye crop exports to China as Trump tariffs loom — South American wheat, corn likely to benefit from trade tensions.
- Botched Belt and Road project triggers political crisis in Serbia — Protesters blame Chinese contractors, corrupt government for fatal roof collapse.
- Xi Jinping suspects ulterior motive behind Trump’s invitation — President-elect asked Xi to inauguration while plotting with Macron and Zelenskyy.
Bloomberg
- Battery-Maker CATL Considers Hong Kong Listing to Raise $5 Billion — A potential second listing could be the city’s biggest since 2021.
- Can China Shield the Biggest Uninsured Economy From Floods? — Authorities are taking out citywide insurance policies to protect tens of millions of people from increasingly violent weather, but the program risks leaving many with inadequate coverage.
- UK Focuses China Thaw on Closer Banking, Clean Energy Ties — Draft proposals include the aim to boost trade and investment in both directions and a particular focus on banks in London.
- China Banks Raise Mortgage Rates For the First Time Since 2021 — That change was surprising since the housing market remains mired in a decline that began three years ago, and has rippled through the economy.
Reuters
- Apple in talks with Tencent, ByteDance to roll out AI features in China, sources say — A successful partner for Apple’s AI services in China could be a major winner in the country’s increasingly crowded AI field.
- Where will Trump and China drive commodities in 2025? — With no predictable mold for how this will work, the only certainties will likely be volatility and numerous factors working in opposing directions.
- Honda-Nissan merger talks expose existential threat of Chinese EVs to Japan — The challenge threatens Japan’s vast car-manufacturing supply chain that has been the country’s economic engine for years.
Other Publications
- The Guardian: Fleeing Xi’s China: following the trail of migrants trying to reach Australia through Indonesia — A new and high-stakes escape route has been revealed, through the Indonesian archipelago to a smuggler’s boat.
- The Economist: How to get a free meal in China — As the economy slows, more restaurants are offering food to those in need.
- The Verge: DJI escapes US drone ban but may get banned automatically unless Trump steps in — The U.S. Senate has passed a massive defense bill that gives DJI one year to prove its innocence.
- Foreign Affairs: How to Stop a Trade War — Trump, tariffs, and the coming transformation of global commerce.
