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 Xi Calls Trump in Unusual Move to Discuss Taiwan, Ukraine — Beijing is pushing its position that Taiwan should return to the mainland, while Trump steers the conversation to Ukraine peace talks.
- Robots and AI Are Already Remaking the Chinese Economy — To blunt Trump’s push to reclaim global manufacturing, China’s factories and ports are learning to make and export more goods faster, cheaper and with fewer workers.
- Alibaba’s Profit Slumps but AI Business Shines — Consumer AI is the latest target in the group’s sights.
- NIO Net Loss Narrows on Strong Sales, Margin — In October, it delivered more than 40,000 units, a third straight monthly record.
- Chinese Automaker BYD’s European Sales Continue to Rise — Registrations for Tesla, meanwhile, fell 48% in the EU last month.
The Financial Times
- Trump and Xi hold first call since trade truce — Conversation between U.S. and Chinese presidents comes as Washington debates sale of more advanced AI chips.
- Japan’s Takaichi says Trump called after speaking with Xi — Prime minister says leaders discussed Indo-Pacific ‘challenges’ amid tensions over Taiwan between Tokyo and Beijing.
- Chinese exporters charge Russia more for war supplies — Price increases show that western restrictions are limiting Moscow’s capabilities, Bank of Finland research finds.
- VW says it can halve EV development costs with ‘Made in China’ car — German automaker is seeking to reclaim share in the world’s biggest market.
The New York Times
- Xi Presses Trump on Taiwan as They Agree to Meet in China in April — In an unusual move, Xi Jinping, the leader of China, called President Trump. The two spoke about trade, Taiwan and Ukraine, according to separate official statements.
- China and Japan, With Trump in the Middle, Stoke an Existential Showdown — With Japan’s new leader refusing to back down from China’s show of force and claims on Taiwan, Xi Jinping picks up the phone to try to pry the U.S.-Japan alliance apart.
- Warmed by Japan’s Support, Taiwan Takes Up Sushi Diplomacy — China closed off Japanese seafood imports after Japan’s new leader declared strong support for Taiwan. Suddenly, sushi is everywhere on Taiwanese social media.
- Trump Administration Is Taking Billions in Stakes in Firms Like Intel — The Trump administration is trading billions of dollars of taxpayer money for ownership stakes in companies. The unusual practice shows no sign of slowing.
Caixin
- Top Sovereign Lending Official at Exim Bank Under Investigation — Zhu Ying, a key figure in African debt restructuring, is at the center of a corruption investigation.
- Fugitive Financier Tried in Shanghai Over $14 Billion Ponzi Scheme — Lin Qiang allegedly led a years-long fraud that lured billions from investors using fake assets and regulatory loopholes before fleeing China in 2023.
- Chinese Banks Slash Loan Rates in Year-End Push, Raising Risk Concerns — Some property-backed business loans fall below 2%, fueling a gray industry of intermediaries and potentially heightening systemic vulnerabilities.
South China Morning Post
- China’s liquor capital faces long march to rebirth as ‘liquid gold’ glory wanes — In Maotai town, baijiu producers diversify offerings while expanding to markets such as Hong Kong and Southeast Asia amid a culture shift and economic challenges.
- UBTech wins $37 million deal to deploy humanoid robots at China-Vietnam border crossings — The initiative features the industrial-grade Walker S2, billed as the world’s first humanoid robot capable of replacing its own battery.
Nikkei Asia
- Chinese banks sell off real estate collateral to shed bad debt — Sale of 70,000 properties threatens to further drive down prices.
- China’s Nvidia challenger Moore Threads set for blockbuster Shanghai IPO — Designer of artificial intelligence chips to raise $1.1bn at $7.6bn valuation.
Bloomberg
- Private Equity Firm PAG Makes a Big Contrarian Bet on China — PAG has turned what was initially a minority stake in an asset-light company into effective control of China’s biggest shopping mall operator.
- Xi Puts Biggest U.S.-China Flashpoint Back on Agenda in Trump Call — Questions linger about just how far Trump might go to further boost ties with China.
- Alibaba’s AI Arm Surges 34% While China Commerce Bounces Back — The strong results are likely to encourage investors betting on Alibaba as a leader in artificial intelligence development.
Reuters
- France seeks three-month suspension of Shein over sex dolls — The court of Paris is set to hold a hearing on Wednesday.
- China can ride to the rescue of Asia’s tight diesel market — It could ramp up exports in December to compensate for lower shipments from Indian refiners caught up in sanctions against Russian crude oil.
Other Publications
- The Economist: China’s Communist Party wants positive energy only, please — But enforced online optimism is no remedy for economic gloom.
- Rest of World: Chinese businesses are transforming Mexico City’s poshest neighborhood — A growing Chinese techie community in Nuevo Polanco is fueling a boom in restaurants and markets to serve them.
- Foreign Affairs: How Xi Played Trump — Beijing gambled and is now reaping the rewards.
- Foreign Policy: Why U.S. Tech Flip-Flops on China Are So Disastrous — Allies and adversaries alike know they just have to wait for the other shoe to drop.
