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 Tells Chief Economists: Be Positive, or Else — Experts at brokerages say they are pulling punches as Beijing’s tolerance lessens.
- Taiwan Is Getting Its U.S. Weaponry Years Behind Schedule — Five-year wait for 38 Abrams tanks highlights strains on U.S. industrial capacity as concerns grow over China.
- China Lifts Four-Year Import Ban on Australian Rock Lobsters — The two nations agreed in October to resume the trade by the end of the year.
The Financial Times
- China’s short-term bond yields fall below 1% for first time since 2009 — Key level passed after 10-year debt breached 2% barrier as markets expect further monetary easing.
- China’s Xi urges gambling hub Macau to diversify — President visits territory to mark 25th anniversary of handover from Portugal.
The New York Times
- Nvidia’s Booming A.I. Business Collides With U.S.-Chinese Tensions — The chipmaker expects more than $10 billion in foreign sales this year, but the Biden administration is advancing rules that could curb that growth.
- Chinese National Charged in California After Aiding Local Candidate, Prosecutors Say — The man is charged with acting as an illegal foreign agent. The move is part of an effort by the authorities to prevent China from influencing American politicians.
- Macau Is the Casino Capital of the World. For China, That’s Not Enough. — A quarter century after the former Portuguese colony was made a Chinese territory, Macau’s economic boundaries with the mainland are being blurred.
Caixin
- Troubled Builder Jinke Seeks $467 Million to Support Bankruptcy Reorganization — Jinke’s judicial restructuring may provide road map for other developers crippled by debt, says expert.
- UnionPay Takes Its QR Payment Network Into Laos Making Shopping by Mobile Easier — Partnership allows customers using UnionPay-supported wallets to make seamless mobile payments in Laos.
- China Arms Itself With Stronger Law to Fight Money Laundering — Update imposes tougher regulations on financial institutions, highlights emerging technologies, and specifies its coverage of sectors including real estate, accounting, and precious metals trading.
South China Morning Post
- Shenzhen showers AI companies, workers with cash to boost local industry — Municipal government issues a slew of new policies including tens of millions of dollars in subsidies to promote AI development.
- Is Taiwan a factor in U.S. decision to finally start moving marines from Okinawa to Guam? — Move has been in the pipeline for over a decade, but Washington has only just agreed to start relocating its first troops stationed in Japan.
- Opinion: Why China will struggle to boost consumption — A system which emphasises stability and control will face challenges in uncovering the DNA of the Chinese consumer. By Stephen Roach.
Nikkei Asia
- For Xi Jinping, ‘Made in China 2025’ has been worth every penny — Bill for technology upgrades and increased self-reliance reaches trillions of yuan.
- Private equity firms pledge to be China-free as U.S. tightens rules — Thirty-three firms sign on to bipartisan-backed initiative ahead of key Congress vote.
- Tokyo Electron counts on AI chip tools to offset China slowdown — Company expects AI sector to account for 40 percent of sales next fiscal year.
- Trump 2.0 to still focus on dealmaking in more volatile world: Ian Bremmer — Eurasia Group chief sees tensions with China growing under hawkish administration.
Bloomberg
- China’s Economic Rebound Hangs on the Fate of Its Richest Cities — Fiscal hardship gripping poorer provinces is spilling into wealthy regions long considered slowdown-proof. That’s threatening the nation’s entire economy.
- As TikTok Runs Out of Options, This Billionaire Has a Plan to Save It — Frank McCourt’s pitch to purchase TikTok could draw interest because he doesn’t want the app’s forbidden algorithm.
- Replicating TikTok’s Success Will Be Harder Than It Looks — The loss of TikTok could be YouTube and Instagram’s gain in the US, but the Chinese app has a massive head start on perfecting an algorithmic approach.
- China’s Top Crop Trader Blunts Impact of U.S. Trade War With Brazil Bet — Cofco is set to open a massive port terminal in Santos next year, its latest international splurge as it jostles to contend with the world’s biggest food merchants.
- China’s ‘Old Shop’ Jeweler Bucks Slowdown With 437% Stock Rall — While most retailers in China are counting on stimulus measures from Beijing to revive consumption activity, Laopu Gold’s luxury strategy, coupled with strong local appeal, has helped the brand buck a broader slowdown in demand.
Reuters
- After Northvolt, Europe’s battery hopes rely heavily on China — Northvolt’s financial collapse has not entirely crushed Europe’s dream of developing its own electric vehicle batteries but fulfilling it is likely to require Chinese cash and expertise.
- Exclusive: Nornickel in talks with Xiamen C&D to shift copper smelting to China — The sector’s profitability and smelting activity have been hit by low processing fees following an expansion of capacity in China.
- Exclusive: China’s state importer books U.S. soy purchases as tariff threat looms — The American industry is concerned that another round of tit-for-tat tariffs would erode the value of U.S. soybeans.
Other Publications
- The Information: U.S. Prompts Nvidia, Supermicro Probe Into How Chips Ended Up in China — Nvidia distributors in Southeast Asia are trying to ferret out smugglers who are skirting U.S. laws restricting advanced chip sales to China. But the smugglers are proving wily in their evasion tactics.
- Foreign Policy: How China’s Antitrust Tactics Undermine U.S. Tech Leadership — U.S. firms are caught in China’s regulatory crossfire, with billions at stake.
- The Economist: What a fourth-century drinking game tells you about contemporary China — China’s obsession with calligraphy colours its view of itself.
- Foreign Affairs: Why China Isn’t Scared of Trump — U.S.-Chinese tensions may rise, but Washington’s isolationism will help Beijing, a distinguished professor at Tsinghua University writes.
- CSIS: China Makes Progress on Its Fifth Antarctic Research Station — The station will help China strengthen its position as a scientific and political heavyweight in the world’s southern frontier.
- Brookings: How the U.S. should address Chinese overcapacity and its impact on international trade — Severing trade with China is neither realistic nor desirable.
