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
- NIO’s Net Loss Widens, Revenue Misses Expectations — NIO’s net loss unexpectedly widened in the fourth quarter despite stronger sales as the Chinese carmaker faced an intense price war in the world’s largest electric-vehicle market.
- AstraZeneca Invests $2.5 Billion in R&D Center in China — The pharmaceutical company said the investment in the research-and-development center in Beijing will bolster its footprint and growth prospects in the country.
- Meituan Nearly Triples Profit Despite Competition — Chinese food-delivery giant Meituan continued its run of strong earnings even as it faces fierce competition and a weaker Chinese economy.
- How a Renowned Hong Kong Tycoon Ended Up on Beijing’s Bad Side Over Panama Canal Deal — Ninety-six-year-old Li Ka-shing earned the nickname “superman” for his uncanny sense of when to sell. Not for the first time, one of his deals has angered Beijing.
- Musk Set to Receive Top-Secret Briefing on U.S. War Plans for China — The Trump adviser is expected to get a look at the Pentagon blueprint despite his companies’ financial stakes in China and defense contracts.
- The Warship That Shows Why the U.S. Navy Is Falling Behind China — A blizzard of design changes by the military have put production of the USS Constellation years behind schedule and millions over budget. Labor shortages, old equipment and rising steel costs aren’t helping the industry.
- Opinion: China’s Economy Is Clunkers All the Way Down — To encourage growth, Xi Jinping offers subsidies for upgrades of business and household equipment. By Joseph C. Sternberg.
The Financial Times
- AstraZeneca to invest $2.5bn in China after scandal — London-listed drugmaker will establish research centre in Beijing.
- Trump imposes sanctions on Chinese companies over Iranian oil shipments — US measures are latest salvo in a ‘maximum pressure’ campaign on Tehran.
- Beijing faces pushback over ambitious hydropower project plans — China’s leaders must balance making the best use of limited water with local, environmental and diplomatic concerns.
The New York Times
- China’s Tax Revenue Declines as Its Leaders Brace for Trump’s Tariffs — Tax revenues have fallen, leaving the government with less money to help consumers or exporters as Beijing braces for President Trump’s tariffs.
- Trump and China Clash Over Panama Canal in Test of Hong Kong’s Status — Beijing’s threat to stop a tycoon’s sale of his ports business has dealmakers wondering if they can still operate without political interference.
- Pentagon Set Up Briefing for Musk on Potential War With China — The access would be a major expansion of Elon Musk’s government role and highlight his conflicts of interest.
Caixin
- U.S. Targets Chinese Shipping to ‘Resurrect’ Domestic Industry — Shipping executives worldwide recoiled when Trump vowed to “resurrect the American shipbuilding industry”, a dream they say could significantly increase costs and trigger supply chain chaos.
- Chinese Consumers Are More Confident and Willing to Spend, Survey Shows — A growing number of residents in first- and second-tier cities feel better off financially, although sentiment toward the property market remains weak.
- Opinion: China’s AI Applications Should Match Its Strengths — Rolling out economically viable applications will be essential to sustaining long-term, high-intensity investment. By Vincent Chan.
South China Morning Post
- China, Europe must lean ‘closer’ as Trump-led US turns its back on multilateral world — Norwegian foreign vice-minister Andreas Kravik talks about China’s key role as uncertainties rock Europe-US ties, and the need for balance.
- US military cuts: are ‘budget hawks’ getting upper hand over ‘China hawks’? — With US troops in Japan on ‘chopping block’ analysts say those in South Korea might face cuts too, and it may weaken deterrence against China.
- China sale of deep-sea surveillance robots to Middle East buyer signals deepening tech — Sealien Robotics’ sale of cutting-edge subsea system to mystery buyer is latest sign of China’s progress in global undersea tech race.
- China’s premier tells foreign trade enterprises to be ready to ‘combat storms’ — Premier Li Qiang also pledges more government support for private sector during inspection tour of Fujian province.
- Humanoid robot war heats up as US and China race towards mass production — From ‘kung fu bots’ to new production lines, the race to mass produce humanlike robots is accelerating on both sides of the Pacific.
Nikkei Asia
- Thailand claims deported Uyghurs are well after Xinjiang visit — Risk of U.S. sanctions remains after forced return of 40 to China.
- Japanese used cars rule the road in Sri Lanka. Here comes BYD — Chinese EVs make move into South Asian nation’s reopened import market.
- Opinion: Russia’s silence speaks volumes for North Korea — Pyongyang hedges its bets by turning to China for support. By Cao Xin.
Bloomberg
- US-China Rivalry in the Trump Era: A Discussion — A panel of Bloomberg experts examines how the world’s superpowers have been slugging it out since Donald Trump started his second stint as US president.
- China Imports of US Commodities, Cars Collapse in New Trade War — China’s imports of US cotton, cars and some energy products all plunged in the first two months of the year after President Donald Trump started imposing tariffs and Beijing retaliated.
- US Sanctions First Chinese ‘Teapot’ Refinery Over Iran Links — The US is sanctioning a Chinese oil refinery and a terminal operator over links to Iranian crude imports, in the first measures to directly target China’s refining system as President Donald Trump seeks to press Tehran into a fresh nuclear deal.
Reuters
- India’s $23 billion plan to rival China factories to lapse after it disappoints — Some 750 companies, including Apple supplier Foxconn and Indian conglomerate Reliance Industries, signed up to the Production-Linked Initiative scheme, public records show.
- China’s restaurants race to the bottom in deflation-hit economy — Behind every appliance is the tale of a failed Beijing restaurant, set up by those who often bet their life savings on a V-shaped economic recovery after the COVID-19 pandemic, only to see consumers skimp on eating out as China’s economy slowed.
- Chinese copper smelters grapple with margin collapse — The overcapacity in China, the world’s largest supplier of the refined metal used in wiring, machinery and new energy technologies, is contributing to a global imbalance in the copper smelting industry.
Other Publications
- Foreign Policy: China Is No Climate Savior — The numbers don’t lie: Beijing will not drive a global energy transition.
- The Washington Post: Taiwan warns of growing Chinese threat, partly to secure Trump’s support — President Lai Ching-te is pushing boundaries, risking an angry response from China at a time when it’s not clear whether the United States will step in to help.
- The Economist: China’s cynicism offensive in Asia — Chinese diplomats won’t—or can’t—take full advantage of America’s mistakes.
