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.
Paid subscribers automatically have this list emailed directly to their inboxes every day by 10 a.m. EST. Subscribe here.
The Wall Street Journal
- XPeng Gears Up to Launch Robotaxis Next Year — The Nasdaq-listed company is set to become the first Chinese carmaker to launch a self-developed robotaxi.
- How China’s Chokehold on Drugs, Chips and More Threatens the U.S. — It isn’t just rare earths. Three products show how Beijing built supply-chain dominance that it can use to hurt its trading partners.
The Financial Times
- VW starts developing AI chip in bid to claw back China sales — Europe’s largest carmaker prepares for launch of 30 new EV models after haemorrhaging market share.
- China’s green bond market races ahead of global peers — Use of sustainable finance overtakes western rivals as ESG movement faces US backlash.
- Opinion: Starbucks ducks for cover amid China’s coffee wars — Foreign companies can no longer rely on brand prestige alone in sectors in which Chinese rivals undercut prices. By Lex.
The New York Times
- China Delays Return of Astronauts After Debris May Have Hit Spacecraft — The country’s space authorities said they were investigating whether an object had hit a Chinese spacecraft and the risks tied to it.
- China’s Security State Sells an A.I. Dream — China’s new national drive to embrace artificial intelligence is also giving the authorities new ways to monitor and control its citizens.
- Opinion: How Should Trump Approach China? — What could this truce mean for the United States in the long term, especially as China continues to demonstrate dominance? By Jason Furman, Oren Cass and Ariel Kaminer.
Caixin
- Hong Kong Freezes Over $350 Million Linked to Cambodian Crime Syndicate — The move against the Prince Group is part of a multinational crackdown on an alleged telecom fraud and money laundering ring that has been targeted by U.S., U.K. and Singapore.
- Goldman CEO Expects Foreign Investors to Further Return to China in 2026 — The CEO says sentiment toward Chinese assets is normalizing as markets recover and U.S.-China relations stabilize.
- Creditors Block Shanshan Group’s $463 Million Restructuring Plan — Major lenders including ICBC and CCB opposed the proposal, which would have handed control to shipping tycoon Ren Yuanlin.
- Beijing’s Push for Judicial Checks on Asset Seizures Signals Bid to Reassure Private Sector — A proposal for the 15th Five-Year Plan calls for strengthening judicial supervision and creating a separate court process for seized assets.
- China Tightens Rules on Controversial Detention System — New joint regulations from the top prosecutor and police aim to curb abuses in the ‘residential surveillance at a designated location’ system by ensuring suspects can see their lawyers within 48 hours.
South China Morning Post
- As China holds the line in ‘trade war 2.0’, its yuan follows suit — With minimal depreciation and more frequent use overseas, the yuan has shown greater resilience in this round of the US trade conflict.
- After Xi-Trump summit, US firms seize window of opportunity at China import expo — More US companies are expected at this year’s China International Import Expo, hoping to secure deals in wake of bilateral summit.
- Top Democrat challenges US budget chief over science cuts as Beijing boosts research — Raja Krishnamoorthi warns spending reductions could sap American competitiveness and drive talent towards China.
- Taiwan revokes 50 citizenships citing Beijing’s infiltration as critics slam DPP move — Taekwondo star, professor among those stripped of household registration because they held ID cards from the mainland.
- Opinion: How China and Asean can ensure their upgraded pact is truly win-win — Beijing must assuage Southeast Asian concerns about its power while Asean leaders can benefit from a more multidimensional view of China. By Brian Y. S. Wong.
Nikkei Asia
- Trump’s ‘G2’ revival sparks anxiety in Washington and Asia — President’s words hint at coexisting spheres of influence with China.
- Singapore Exchange woos China’s fund-seeking companies for listings — SGX head highlights Chinese firms entering Southeast Asia as targets for fundraising.
- Opinion: China’s rare-earth curbs should spur US to forge new supply chains — Policy tweaks and international partnerships are more important than containing Beijing. By Hannan Hussain.
Bloomberg
- China Premier Says Economy to Surpass $23.9 Trillion in Five Years — Li Qiang suggested the economy will maintain its growth pace, touting China as an attractive market for global firms as Beijing seeks to mitigate concerns over trade imbalances.
- China’s Export Control Taskforce Adds Most Headcount Since 2022 — China’s Commerce Ministry is on its biggest public hiring spree, bolstering the unit overseeing rare-earth curbs even as it pauses sweeping measures in a trade truce with the US.
- Here’s How US, China Statements Compare Post Xi-Trump Summit — After Trump and Xi met in South Korea on Oct. 30, China released a statement on the landmark summit’s outcomes, while US officials made public remarks and later published a fact sheet.
- China’s Offer to Store Foreign Gold Gets Taken Up By Cambodia — Cambodia is set to become one of the first countries to store gold with China, according to people familiar with the matter, marking progress in Beijing’s push to develop as a global bullion hub.
- Why Starbucks Chose Local PE Firm to Help Revive China Business — Starbucks decided to sell a majority stake of its China unit to Boyu Capital after the Chinese private equity firm convinced the coffee chain it could grow the business with its existing team.
Reuters
- China bans foreign AI chips from state-funded data centres, sources say — In recent weeks, Chinese regulatory authorities have ordered such data centres that are less than 30% complete to remove all installed foreign chips, or cancel plans to purchase them.
- Taiwan says China has added conditions to its attendance at APEC summit — APEC is one of the only international bodies Chinese-claimed Taiwan is a member of, and the next summit will come as relations between Taipei and Beijing have plummeted.
- Toyota, Honda turn India into car production hub in pivot away from China — A brutal price war among Chinese EV makers has made it difficult to turn a profit, and Chinese carmakers are now expanding overseas and taking market share from Japanese rivals.
Other Publications
- The Economist: China places a Hong Kong-sized bet on Western decline — The territory aims to prove that a non-free society can be a global financial hub.
- The Guardian: A cultural revolution? Trump’s America feels oddly familiar to those watching from China — Demands of absolute loyalty and attacks on institutions have raised memories of Mao-style chaos from US watchers in China.
