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 Tightens Grip on Rare Earths Ahead of Expected Trump-Xi Meeting — Foreign organizations and individuals must obtain a dual-use export license from China’s Ministry of Commerce before exporting rare-earth products, tech, or other dual-use items.
- Porsche Deliveries Fall on Weakness in China — Deliveries dropped 6% in the first nine months of the year as growth in North America failed to offset a hefty decline in China.
The Financial Times
- China unveils sweeping rare-earth export controls to protect ‘national security’ — Rules come ahead of expected meeting this month between Donald Trump and Xi Jinping.
- Collapse of China spy case shows ‘UK can be bullied’, says trial witness — Government failed to provide evidence China was a threat to national security.
The New York Times
- China Clamps Down Even Harder on Rare Earths — The move is Beijing’s latest attempt to tighten control over global production of the metals, which are essential to the manufacture of computer chips.
- Chinese Surgeons Perform First Pig-to-Human Liver Transplant — The transplanted portion of the genetically modified pig liver was removed after 38 days, and the patient, who had advanced liver cancer and cirrhosis, died several months later.
- An Irish Factory Town Prospered With China. Now, Its ‘Jewel in the Crown’ Is Leaving. — China’s baby boom enriched a small Irish town where a Nestlé factory made formula for Chinese newborns. Then a baby bust unraveled it all. Or so it seemed.
- Why a China Spy Case in the U.K. Collapsed Before It Went to Trial — The British government has come under scrutiny after charges against two men accused of spying for Beijing were dropped. Here’s what to know.
Caixin
- China Elevates a New Generation to Run Key State Institutions — A flurry of appointments installs officials born in the 1980s at the helm of top universities and the Communist Party’s flagship newspaper.
- Chinese Firms Face Shifting Global IPO Landscape — For years, the U.S. has been a preferred market for Chinese IPOs, offering companies high valuations and access to a global investor base. But that path may be narrowing.
- China’s Holiday Box Office Slumps Despite More Films, Cheaper Tickets — China’s National Day holiday ended with one of its weakest box office showings in recent years, underscoring weak domestic consumption.
South China Morning Post
- Asean membership draws a tiny but strategic Indo-Pacific nation closer to US-China chess match — East Timor set to become newest member of Asean bloc, but can it balance relations with its neighbours while safeguarding its own interests?
- How wartime trek of China’s Palace Museum treasures binds national heritage — The story is little known in the West, but is a foundation for modern Chinese museology and a symbol of the nation’s resilience.
- Unfair funding is holding back science in China. Can Beijing fix it? — Researchers lament ‘grossly uneven’ system in which a small number of top-tier teams secure a high share of resources.
- China flicks the switch on world-first thermal power station in Gobi Desert — Nearly 27,000 mirrors focus sunlight on two towers feeding a single turbine – a system that is said to be cheaper and more efficient.
- Transformation of China’s supersized market will suit Italian investors — Top diplomat’s message to Rome includes benefits of next five-year plan’s focus on rapid move to high-end, more open economy.
Nikkei Asia
- US-China power game heats up ahead of APEC summit — South Korea caught in the middle as it prepares to host regional powwow.
- Tesla, Hyundai, Nissan offer cheaper EVs as China price war goes global — Battle for market share heats up as demand slumps on reduced incentives.
- IMF presses China to reflate economy as growth slows and tariffs bite — Uneven spending over Golden Week holidays signals consumer caution.
Bloomberg
- Gold’s Record Rally Is Helping China Challenge Trump and the Dollar — Beijing is seizing the opportunity to offer up an alternative to US financial dominance.
- Trump’s Hydrogen Cuts Put the US Further Behind China on Key Green Tech — China already produces 60% of the world’s electrolyzers, and it continues to provide policy support to bring down the costs of the clean fuel.
- China Blacklists Researcher That Exposed Huawei Chip Secrets — China has added prominent research firm TechInsights to its Unreliable Entity list, shutting out the teardown specialist that helped expose the inner workings of Huawei’s AI chips.
- Opinion: US Stablecoin Dream Is a Nightmare for China — China’s President Xi Jinping is concerned about the impact of US stablecoins, which could lead to a new wave of dollarization and undermine the yuan’s role. By Andy Mukherjee.
- Opinion: Luxury Mooncakes Won’t Go Away. Nor Will Plastic Waste. — If there’s one force that’s shaped the past few decades, it’s the relentless willpower of the Chinese Communist Party. By David Fickling.
Reuters
- NBA makes China comeback in Macau — The games mark the first time the NBA is playing in Macau, the world’s largest gambling hub, and follows a years-long absence amid controversy over the 2019 Hong Kong protests.
- China’s BYD expands South American footprint with Argentina EV launch — Stephen Deng, the country manager for BYD in Argentina, said that BYD can currently import about 7,800 electric and hybrid cars under an allocation it was given by Argentina.
- German cartel office investigating Temu over merchant price influencing — Temu said it adhered to applicable laws and regulations in the markets where it operates. “We are confident that any related concerns can be successfully resolved.”
Other Publications
- Foreign Policy: Beijing Has Forgotten Wartime Lessons — Chinese resistance to fascism was more than a Communist triumph.
- Foreign Affairs: Taiwan’s Plan for Peace Through Strength — How Investments in Resilience Can Deter Beijing.
- The Washington Post: Opinion: The Chinese robots are coming — China is miles ahead in the race to dominate a technology that could define the 21st century. By Selina Xu and Helen Zhang.
- The Economist: The sinister disappearance of China’s bosses — Detentions, public shaming and suicides intensify the country’s corporate gloom.
- Rest of World: Tesla starts slashing prices amid costly battle with BYD — Elon Musk’s $5,000 price cut fails to match BYD’s advantage as the Chinese EV maker dominates global markets.
