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
- Tencent Makes Biggest Buyback After Addition to Pentagon List — China’s largest public company by market capitalization spent the equivalent of about $193.3 million to buy back 4.05 million shares on Wednesday.
- China Expands Consumer Subsidies to Boost Spending as Tariff Risk Looms — The move comes as Beijing intensifies efforts to convince cautious households to spend as rising external uncertainties threaten exports’ ability to prop up economic growth.
- Xi Jinping Muzzles Chinese Economist Who Dared to Doubt GDP Numbers — Gao Shanwen questioned Beijing’s ability to boost its economy as threats loom from a property meltdown and burgeoning debt.
- Shein’s Lack of Answers on China Forced-Labor Concerns Angers U.K. Lawmakers — The bargain clothing site, which is seeking a London stock listing, declined to shed light on whether its clothing contains cotton from Xinjiang.
The Financial Times
- China’s currency hits 16-month low on Trump tariff fears — Renminbi under pressure from stronger dollar and concerns about incoming US president’s trade plans.
- China to subsidise rice cookers and microwaves to boost consumption — Beijing earmarks $11bn for expanded home appliance trade-in scheme amid concern over weak economic momentum.
- Pentagon blacklisting of China’s EV battery maker puts US banks in bind — Involvement in Hong Kong secondary listing of CATL raises reputational risks for Wall Street groups.
- House of Huawei — inside China’s ‘most powerful company’ — Eva Dou’s authoritative account of the secretive tech company that has become a flashpoint in US-China relations.
- Chinese airlines rush into Europe as western carriers retreat — Ability to keep flying over Russia helps three big state-owned carriers undercut European rivals.
The New York Times
- In Tibet, Earthquake Survivors Face Freezing Weather Conditions — Rescuers rushed to distribute blankets and tents to those displaced by the magnitude-7.1 quake that struck Tibetan villages near Nepal, toppling over 3,000 homes.
- Opinion: ‘Trump Is at His Absolute Worst in a Crisis’: Three Columnists Imagine the World Ahead — What are the biggest challenges and opportunities facing Trump and his team in foreign policy and national security? By David French, Lydia Polgreen and Bret Stephens.
Caixin
- Why More Chinese Companies Are Getting Sued by Aggrieved Investors — The number of class-action lawsuits accepted by China’s courts has jumped in the last few months as the government seeks to boost confidence in the stock market.
- Why Southeast Asia is Becoming a Manufacturing Hub for Chinese Investments — Southeast Asia is becoming a magnet for Chinese companies wanting to relocate their mid-to-upstream supply chain to avoid the United States’ stricter tariff policies.
- Surge in Chinese Overseas Tourism Set for Lunar New Year — Many Chinese travelers are opting to head to destinations in East and Southeast Asia for the upcoming Lunar New Year holiday, underscoring a gradual recovery in outbound travel.
South China Morning Post
- Sudden death of top Chinese military drone scientist shocks industry — Drone expert and start-up founder Zhang Daibing, whose company developed unmanned firefighting tech, is dead at age 47.
- Wife of China’s fallen minister used shadow firms to wash dirty money, big data shows — Latest state documentary on China’s sweeping anti-corruption crackdown highlights the use of big data tools by top watchdog CCDI.
- China’s calling in humanoid robots to care for granny as needs of elderly outpace workers — To address its rapidly ageing population, China is among the first nations to set policy plans for humanoid robots that will provide companionship, monitor health and may even resemble loved ones.
- Alibaba powers AI drive of Transsion, the top Chinese smartphone vendor in Africa — Alibaba’s Tongyi Qianwen model will enable the GenAI features of the Phantom V Fold2, Transsion’s latest 5G smartphone under its Tecno brand.
- Opinion: Trump will put US and China back on collision course — Even if both sides know conflict would be damaging and distract from domestic concerns, early signals suggest a clash will be hard to avoid. By Ian Bremmer.
Nikkei Asia
- U.S. passport falls in visa-free travel rankings while China rises — Amid isolationist politics, Americans face increased barriers to travel and migration.
- ‘New class war’ comes for Xi’s China as public frustration mounts — Economic anxiety will not be as easy to suppress as pro-democracy activism.
- Trump’s Greenland interest may alter China’s Arctic strategy: analyst — Son Don Jr. lands in Nuuk as president-elect vows to protect the island.
Bloomberg
- Markets Sound Alarm Over Deflationary Spiral in China — Investors are increasingly concerned that China risks sliding into an economic malaise that could last decades.
- China Renews Car Trade-In Subsidy to Boost Hybrid, EV Sales — China has renewed a trade-in subsidy of up to 20,000 yuan ($2,730) to help underpin sales of fuel-efficient vehicles, including electric cars and hybrids.
- Opinion: Scott Bessent Can Break China’s Stubborn Central Bank, Too — Beijing will have no choice but to weaken the yuan if Trump’s pick for Treasury secretary takes an activist approach to bond issuance. By Shuli Ren.
Reuters
- China-linked shipowner denies Taiwan accusation of damaging undersea cable — Taiwan’s coast guard said it sent a ship to investigate a report from telecoms provider Chunghwa Telecom that an undersea communications cable had been damaged off the island’s north coast.
- BYD brought hundreds of Chinese workers to Brazil on irregular visas, inspector says — The 163 workers who were rescued by labor authorities in December are leaving or have already left Brazil, said Liane Durao, who has spearheaded the probe announced in late December by the labor authorities in Bahia state.
- Pink fox ‘Linabell’ wins Chinese hearts as Disney taps emotional economy — The phenomenon has been likened to the so-called “lipstick effect” in which consumers seek out more affordable luxuries as the economy languishes.
- China’s Shandong Port, entry point for most sanctioned oil, bans US-designated vessels — The province imported about 1.74 million barrels per day (bpd) of oil from Iran, Russia and Venezuela last year, accounting for about 17% of China’s imports, ship tracking data from Kpler showed.
Other Publications
- CFR: China’s Growing Influence in Latin America — For more than two decades, China has developed close economic and security ties with many Latin American countries, including Brazil and Venezuela. But Beijing’s growing sway in the region has raised concerns in Washington and beyond.
- Foreign Affairs: Can America’s Allies Save America’s Alliances? — Washington’s Partners Must Create a New Allied Consensus.
- The Economist: China’s markets take a fresh beating — Authorities have responded by bossing around investors.
- The Guardian: The maps that show how China’s military is squeezing Taiwan — China has increased its incursions into Taiwan’s airspace over the last year, part of strategic harassment that is taking a toll on the island’s resources.
