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
- How a Young Mayor Turned Her Town Into a Hub for ‘Pig Butchering’ Scammers — WSJ got rare access to a criminal enclave in the Philippines from which Chinese gangs targeted people around the world, including Americans.
- Chinese Students in U.S. Warned to Stay Put Ahead of Second Trump Term — Consulate recommends against unnecessary travel as schools urge international students to be in place before inauguration.
- Behind Closed Doors: The Spy World Scientists Who Argued Covid Was a Lab Leak — The idea that the pandemic’s origins lie with a research facility in China was once labeled a conspiracy theory.
- Xiaomi Gains Access to EV Chargers of NIO, XPeng, Li Auto — The company’s EV business launched its first car in March.
- E-mart, Alibaba Plan Online-Shopping Joint Venture — The joint venture will be launched in 2025.
The Financial Times
- China steps up campaign for single people to date, marry and give birth — Women receive cold-calls about family planning and universities asked to offer ‘love courses’ to tackle demographic crisis.
- World Bank lifts China growth forecast but calls for deeper reforms — Multilateral lender says greater detail of policies is needed to bolster household and business confidence.
- India roars ahead of China to top Asian IPO rankings — Fast-growing Indian market behind only the US in money raised by company listings.
- China’s EV sales set to overtake traditional cars years ahead of west — Volumes forecast to rise 20% next year, smashing international projections and Beijing’s official targets.
- ESG funds found to have $1.4bn exposure to Xinjiang labour camps — Ignites Asia analysis has tracked investments in companies such as CATL, the EV battery maker accused of Xinjiang links.
The New York Times
- Why Taiwan’s Foxconn, an iPhone Supplier, Is Investing in Texas and Thailand — The Apple supplier has spent millions in the United States, India and Mexico over the past two years to lessen its dependence on China.
- Opinion: I Never Felt Like This in China Before — America must compete with China, but there’s also a complicated reality that both countries have to face. By Thomas L. Friedman.
Caixin
- Canal Fever Grips China Amid Slowing Growth — Transporting goods on inland waterways is cheaper and more environmentally friendly than using roads or railways, but provinces are at risk of throwing money at projects that won’t pay off.
- Hong Kong IPO Market Stages Comeback After Dismal 2023 — The amount of money raised through new listings jumped 80% to HK$83 billion this year, with most of that coming in the second half as confidence improved and earlier supportive measures started to bear fruit.
- Two Chinese Polysilicon-Makers Promise to Scale Back Amid Price War — Tongwei and Daqo announce temporary production cuts as supply has overshot demand over the last few years.
- Trump Tariff Hike on Mexico Would Hurt Chinese Investments, Experts Say — The president-elect’s promised 25% duty would likely increase prices for American consumers and damage the broader economy.
- China Launches New Plan to Tackle Tuberculosis — The country will take a more active approach to detecting cases of the infectious disease, which is prevalent across many regions, from some of the wealthiest to the most remote.
South China Morning Post
- Huawei’s new flagship smartphones use South Korean memory chips, not Chinese ones — While Huawei has used Chinese memory chips in other handsets, the Mate 70 series features products from SK Hynix, a teardown analysis shows.
- What fate awaits undocumented Chinese migrants in the U.S. under Donald Trump? — President-elect’s plan unlikely to affect recent wave of border crossers who entered during the Biden administration, at least initially.
- Chinese lithium firm reaches milestone in Mali mine project despite strict new rules — After buying a major stake in Mali’s Goulamina lithium mine, Chinese firm Ganfeng has now started production for the project’s first phase.
Nikkei Asia
- China military in disarray over Xi’s monopoly on power — 83rd Group Army’s advocacy for ‘collective leadership’ defies the supreme leader.
- China housing rents slump to 4-year low amid oversupply — Downturn risks prolonging real estate slump as mortgage rates outpace rental yields.
- Japan targets affluent Chinese with new tourist visa — Top envoys Takeshi Iwaya and Wang Yi also verify deal on Japanese marine exports.
- Laos fertilizer exports to China boom amid Russian sanctions — Country steps up mining of potassium chloride to become 3rd-largest producer.
Bloomberg
- China Seeks to Spur Growth by Giving Local Officials Bond Leeway — China’s top leaders have placed boosting domestic demand as their top priority for economic work in 2025.
- China’s Finance, Property Firm Workforces Shrink for First Time — The gloomy job market has been one of the key reasons stopping people from spending more.
- Opinion: Xi May Be Facing a No Good, Very Bad 2025 — The Chinese leader could confront five simultaneous challenges that will determine his nation’s trajectory for the rest of the decade. By Minxin Pei.
Reuters
- China extends EU brandy anti-dumping investigation by three months — The probe will be extended to April 5 due to the “complexity” of the investigation, the commerce ministry said.
- China revises up 2023 GDP, sees little impact on 2024 growth — Policy support late this year has set China on track for a growth target of “around 5%” as activity warmed slightly, but potential U.S. tariff hikes weigh on prospects for next year.
Other Publications
- WIRED: Temu’s Takeover Is Now Complete — Despite the arrival of new competitors and growing political tensions between the U.S. and China, the ecommerce juggernaut Temu proved in 2024 it’s here to stay.
- The Washington Post: China pushes ahead with huge — and controversial — dam in Tibet — Beijing has approved plans to dam a gorge in the Himalayas that is three times as deep as the Grand Canyon, despite concerns about the impact on Tibet and India.
- Foreign Affairs: The Roots of “Revenge Against Society” Attacks in China — Repressive rule is creating a climate of isolation and grievance.
- The Economist: How China turns members of its diaspora into spies — America is on the hunt for these non-traditional agents. But its efforts risk backfiring.
- The Guardian: The rise and rise of Maye Musk: China’s love affair with Elon Musk’s mother — The 76-year-old is part of a trend of ‘silver influencers’ whose success in the face of adversity resonates strongly. Could she be Elon’s secret weapon in China?
