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
- Iran Races to Sell Oil Stored in China — Tehran has shipped out nearly 3 million barrels to raise money that could be used to shore up its allied militias in the Middle East.
- TikTok’s Founder Has a Formula for Everything. Can It Crack the Supreme Court? — As the court weighs a ban on the video-sharing app in the U.S., no one has more to lose than Zhang Yiming.
- China’s Local Governments Settle Overdue Bills With Apartments, Not Cash — A yearslong real-estate slump has strained China’s local government finances and created millions of empty housing units.
- China’s Central Bank, Forex Regulators Pledge to Stabilize Yuan — Officials said they aim to stabilize the yuan exchange rate at a reasonable, balanced level.
- China’s Export Boom Means Trump Tariffs Would Hit Beijing Where It Hurts — Economy is increasingly reliant on foreign demand for goods pouring out of Chinese factories.
- U.S. Targets China With New AI Curbs, Overriding Nvidia’s Objections — New rules in last days of Biden administration aim to block backdoors in other countries that Beijing could use to access technology.
- Porsche Expects Challenges to Continue as Car Deliveries Weighed by China Weakness — Deliveries in China fell 28% on the year.
- BMW Sales Fell in 2024 on Technical Issues, Weak China Demand — The result matched rival Mercedes-Benz, which also reported a 4% drop in full-year vehicle sales.
- Trump’s CIA Pick Expected to Push for Bare-Knuckle Spycraft Against China — John Ratcliffe is rare national-security repeat from president-elect’s first term.
- Opinion: Beijing’s Espionage Campaign Against the West — The recent Treasury Department breach is the latest example of China’s strategic plan to destabilize the free world. By Mike Pompeo.
The Financial Times
- Logistics groups move Chinese staff to help companies tackle Sino-U.S. trade tensions — DHL, Ceva Logistics and Kuehne+Nagel are redeploying Mandarin speakers to help China’s manufacturers set up overseas.
- Malaysia expects surge of Chinese investment, economy minister says — Rafizi Ramli suggests semiconductor and tech sectors are seeking to avoid exposure to possible Trump tariffs.
- Reeves seeks to revive City of London links with China — Chancellor to promote closer ties between London and Shanghai stock exchanges while on Beijing trip.
- U.S. imposes export controls on chips for AI to counter China — U.S. semiconductor industry warns move will aid competitors.
- China’s trade surplus hits annual record of almost $1tn — Rise in exports expected to increase tensions with US and other trade partners.
- China building new mobile piers that could help possible Taiwan invasion — Satellite images reveal barge-like vessels that could help transport tanks and artillery over coastal mudflats.
- Porsche China deliveries drop 28% as competition intensifies — Fall comes as consumers in world’s largest car market increasingly opt for domestic brands.
- China corporate profits set for third year of declines — Oversupply drives intense competition that is undermining prices and profitability.
- Opinion: An out-of-the box idea for China and Trump — Washington and Beijing should conduct a joint intervention on the renminbi. By Mark Sobel.
- Opinion: China is winning the race for green supremacy — The west needs to cooperate, cautiously, with Beijing in the renewable energy trade. By The Editorial Board.
- Opinion: China’s solar sector could be on course for a glow-up — After a plague of overcapacity and falling prices, there are signs the sector may be approaching a bottom. By Lex.
The New York Times
- New York’s Chinese Dissidents Thought He Was an Ally. He Was a Spy. — Shujun Wang seemed to be a Chinese democracy activist, but an F.B.I. investigation showed just how far China will go to repress citizens abroad.
- Biden Administration Adopts Rules to Guide A.I.’s Global Spread — New rules aim to keep advanced technology out of China and to ensure that cutting-edge artificial intelligence is developed by the United States and its allies.
- OpenAI Courts Trump With Vision for ‘A.I. in America’ — The maker of ChatGPT hopes to spur investment from the Middle East and avoid strict regulations on the development of new technologies.
- China’s Trade Surplus Reaches a Record of Nearly $1 Trillion — China’s vast exports in 2024 exceeded its imports on a scale seldom seen anywhere except during or immediately after the two world wars.
- Shui Ka-chun, Hong Kong Activist, Dies — A social worker and teacher imprisoned for his activism, he later wrote about the toll of incarceration and worked to help others behind bars.
Caixin
- Bad-Debt Manager Cinda Sets up $2.7 Billion Fund to Help Revitalize Property Sector — China Cinda fund will likely focus on rescuing troubled real estate projects it has invested in.
- Debt Woes Mount for Troubled Property Group Wanda — Fallen star is being pursued for 25 billion yuan by four companies in disputes over failed equity-related deals.
- Tightening the Rule Book to Make China’s Internet Platforms Fairer — State Council calls for measures to ensure orderly competition and fairer business practices among internet platforms.
- Even Before Trump’s Greenland Dreams, the Island Proved Tough for Chinese Miners — Firms have struggled to establish a foothold to exploit the Danish territory’s vast rare earth resources in the face of local and U.S. resistance.
South China Morning Post
- Kissinger acolyte Robert Hormats on how China, U.S. can narrow their ‘trust gap’ — Veteran diplomat and economist untangles twists and turns of a full China-U.S. decoupling, says differences should be managed carefully.
- China’s 2024 chip imports surged 10.4% to U.S.$385 billion amid tighter U.S. tech sanctions — Many Chinese firms stockpiled chips ahead of the planned roll-out of more expansive and stringent trade sanctions by Washington.
Nikkei Asia
- China’s cram school giant TAL steps up U.S. push amid crackdown at home — New York-listed company turns to smart hardware to foster learning.
- Chinese used-car exports surge 45% on strong Russian EV demand — Some 400,000 vehicles were shipped abroad last year.
- China’s Wang Yi offers Africa aid against terrorism — Beijing to help train military personnel and police officers.
- China’s violin-making capital pursues quality over mass production — Young artisans turn to handcrafting violins to add value over low-cost rivals.
- Opinion: China’s smartphone giants are redefining AI — at a cost to privacy — Tech promises unparalleled convenience, but could undermine user control. By Vivian Toh.
Bloomberg
- China Stocks Gripped by Gloom in Worst Start to Year Since 2016 — The latest retreat in Chinese stocks is an extension of the selloff that came after a brief but sharp rally triggered by the central bank’s policy blitz in late September.
Reuters
- Tougher U.S. sanctions to curb Russian oil supply to China and India — Russian oil exports will be hurt severely by the new sanctions, which will force Chinese independent refiners to cut refining output going forward, two Chinese trade sources said.
- China exports accelerate amid trade tensions, imports surprise — Exports have been a vital growth engine for the $18 trillion economy.
- Exclusive: U.S. probe finds China unfairly dominates shipbuilding, paving way for penalties — Investigators concluded that China targeted the shipbuilding and maritime industry for dominance.
Other Publications
- BBC: The truth behind your $12 dress: Inside the Chinese factories fuelling Shein’s success — Workers making clothes for the fast fashion giant tell the BBC they labour for up to 75 hours a week.
- Washington Post: Rubio nomination complicated by attack on Musk’s Tesla and China’s ban — Florida senator’s criticism of Chinese ‘genocide’ led country to forbid his entry, and his attack on Elon Musk’s company could rile Trump’s key adviser.
- Washington Post: From export controls to hacks, China signals it’s ready to take on Trump — A flurry of activity reveals how Beijing is prepared to act swiftly and forcefully in an intensified diplomatic and trade standoff with Trump, analysts said.
- Associated Press: Uyghurs detained in Thailand say they face deportation and persecution in China — Activists and family members say the men are at risk of abuse and torture if they are sent back.
