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’s Innovent Strikes Cancer Drug Deal With Takeda for Up to $11.4 Billion — The tie-up is the latest between Chinese companies and international pharma majors looking to expand their global reach and tap promising drug pipelines developing in China.
- The U.S. Is Trying to Drive a Wedge Between Argentina and China — The South American country is relying on the U.S. and Wall Street banks for a bailout.
- Opinion: China’s Big London Spy Platform — Beijing wants a mega-embassy in Britain, but espionage risks abound. By The Editorial Board.
The Financial Times
- UK Hongkongers rue the rockiness of their ‘lifeboat’ after threatened visa changes — People who fled Chinese territory are angry after London looks at doubling length of time required to gain citizenship.
- EU urges China to agree ‘prompt resolution’ of export curbs — Brussels’ trade commissioner and Chinese commerce minister also discuss ‘serious’ situation at chipmaker Nexperia.
- L’Oréal chief says Chinese market stabilising as beauty giant eyes more deals — Nicolas Hieronimus says group remains on lookout for acquisitions — days after record €4bn Kering deal.
The New York Times
- Silicon Valley Has China Envy, and That Reveals a Lot About America — The fascination with China’s ability to build things America struggles with, from bridges to advanced tech, risks a dangerous miscalculation about what drives China.
- Opinion: Trump Is Forcing the World Into a New Era of Disorder — Even a détente in the U.S.-China trade war will not restore faith in America’s economic leadership. By Rebecca Lissner and Mira Rapp-Hooper.
Caixin
- JD.com Obtains Hong Kong Insurance Brokerage License, Sources Say — The e-commerce giant is recruiting for a new team to tap into surging demand from Chinese mainlanders for the city’s insurance products.
- China’s ‘Glass King’ Leaves a Legacy in Education — Fuyao Glass’s recently retired chairman Cao Dewang wants to put his mark on education and philanthropy as much as in business.
- Country Garden Services Rolls Out Cleaning Robots to Tackle Rising Labor Costs — The property management giant has mass-produced its ‘Resident No. 0’ robot and aims for a 10,000-unit output next year as the industry increasingly turns to automation.
- China in Talks With Netherlands, EU to Resolve Nexperia Chip Dispute — Commerce minister holds discussions to find a ‘constructive resolution’ after tit-for-tat export controls and an asset freeze on the Chinese-owned semiconductor firm escalated tech tensions.
- AI Chips, Cloud and Robotaxis Offer Baidu a Second Act — at a Cost — Investor optimism grows around Baidu’s AI future, but losses are mounting and rivals are spending faster.
South China Morning Post
- As China’s leaders chart the next 5-year plan, they hear echoes from long ago — Growing geopolitical challenges of today resemble those faced in the 1950s as Beijing seeks to navigate a complex new security landscape.
- How ‘paramount leader’ Donald Trump could prove to be a guard rail in US-China ties — For now, the US president has tamed the China hawks on his team while opting not to antagonise counterpart Xi Jinping, analysts say.
- China’s analogue AI chip could work 1,000 times faster than Nvidia GPU — The device also uses less power than conventional computing while achieving accuracy similar to that of digital systems, researchers say.
- China says it’s a responsible force in AI, but most Americans see US leadership as crucial — Recent capacity-building forum in Shanghai and poll of Americans highlight contrasting takes on a focal point in the China-US tech rivalry.
- Opinion: As Nobel laureates show, the US can’t take tech lead over China for granted — It’s hard to tell who will ultimately win the tech race but this year’s Nobel economics prize gives us some clues. By Alex Lo.
Nikkei Asia
- Nexperia standoff with China shakes global auto supply chain — GM’s CEO warns of potential production impact as new front opens in tech war.
- Thai court removes hurdle to extradition of Chinese criminal ‘kingpin’ — Judges rule country’s law allows for return of She Zhijiang to China.
- China races ahead in robovans even as autonomous delivery challenges remain — Neolix says it has deployed 10,000 of the self-driving vehicles in industry milestone.
- China hotel chains eye Southeast Asia, with Jin Jiang to open 180 locations — Chinese travelers and businesses in region spur sector’s expansion plans.
- China IPOs dominated by government’s EV and chip focus — Listings down from recent peaks in number and value, despite strong stock market.
Bloomberg
- China Chipmaker Yangtze Memory Is Said to Consider IPO Next Year — Yangtze Memory Technologies Co. is considering an initial public offering in mainland China at a valuation that could exceed $40 billion, according to people familiar with the matter.
- China Seeks Sensitive Data From US Firms in Semiconductor Probe — China is demanding some US semiconductor firms submit sensitive information about their sales in the world’s largest chips market as part of its probe of American suppliers.
- China Gathers Foreign Firms in Bid to Reassure on Rare Earths — China convened an unusually large meeting with foreign businesses in an effort to reassure them that its new rare earth export controls aren’t meant to restrict normal trade.
- Mining Investor Says US Must Outspend China on Critical Minerals — A US-backed mining investor warned that Washington must outspend Beijing on critical minerals projects to challenge China’s dominance of global supply chains.
- China’s $1 Billion of Daily US Exports Show Xi’s Bargaining Power — The resilience of Chinese exports is proving just how essential many of its products remain.
Reuters
- Personnel changes to watch at key Chinese Communist Party meeting — This could potentially be the highest turnover at a single meeting since 2017’s Seventh Plenum, when a record 11 members were expelled.
- Airbus opens second jet assembly line in China as it targets production growth — The new line completes a jigsaw of 10 global final assembly lines that Airbus says will be involved in a production drive, including two each in the U.S. and China.
- China to hold celebration for contested Taiwan ‘retrocession’ anniversary — China and democratically-governed Taiwan, which Beijing views as its own territory, have repeatedly clashed this year over their differing interpretations of the 80th anniversary of the end of World War Two.
Other Publications
- Foreign Affairs: Taiwan Is Not for Sale — America Can Make a Good Deal With China Without Abandoning the Island.
- The Economist: China’s chipmakers are cleverly innovating around America’s limits — They are pushing tools to the edge, scaling up and relying on fuzzy maths.
