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
- Chinese Military Drills Send ‘Stern Warning’ After U.S. Arms Sales to Taiwan — The major military exercises come as tensions grow with the U.S. and Japan over the security of the island.
- See How a Chinese Attack on Taiwan Would Be Japan’s Problem — In a conflict, Taipei’s fate would become quickly intertwined with the U.S.-Japan security alliance.
- Sam’s Club Is Beating Costco at Its Own Game—in China — The Walmart-owned company has about 60 stores in China and counting, as well as a fast-growing e-commerce business.
- Three Months, 19,687 Nautical Miles: This Lengthy Trade Route Is Peak Globalization — A Chinese ship sails the long way around the world to deliver cranes to the U.S. Gulf Coast and Jamaica.
- Trump Wants a Weaker Dollar. Some Chinese Say He Has a Point. — A significant weakening of the dollar versus China’s currency didn’t happen in 2025, but some forecasters say it’s a wild card to watch in the new year.
- A Tiny Pacific Paradise Is Gaming the U.S.-China Rivalry Over Minerals — The Cook Islands—population 15,000—are being courted by the two superpowers as they hunt for more rare earths, and could stand to reap a windfall.
- China Sanctions Boeing, Other U.S. Companies Over Taiwan Arms Sale — Beijing responded to the Trump administration’s approval of a large weapons package for Taipei with restrictions on firms and executives.
- Opinion: Can Trump’s Navy Match China’s? — At least he’s trying to build more ships, but his new battleship and cutter aren’t enough. By The Editorial Board.
The Financial Times
- China signals tolerance for stronger renminbi — Central bank fixes currency at highest level against dollar in 15 months.
- China launches military drills around Taiwan — ‘Justice Mission 2025’ exercises to test US response after largest-ever arms sale to Taipei.
- The wildcat traders and US contractors piling into Pakistan’s antimony — Fears about China’s control of the rare earth supply chain have bolstered demand for alternative suppliers.
- China’s industrial profits plunge as weak demand and deflation bite — Steep fall in November nearly wipes out profit growth in 2025 as Beijing steps up pressure on over-investment.
- China’s cash-strapped local governments drive record asset-backed securities sales — ABS issues bring in badly needed money but some assets are of uncertain quality.
- ‘It’s been an expensive year’: Meituan counts cost of China’s delivery wars — Competition from Alibaba and JD.com for fast-growing instant retail market has hit the Beijing-based group.
The New York Times
- Meet a U.S. Start-Up Trying to Break China’s Rare-Earth Monopoly — Companies like Phoenix Tailings, which recently began producing metal in New Hampshire, are using new processing methods to compete with Chinese suppliers.
- China Will Hold Live-Fire Military Exercises Around Taiwan — The exercises end months of relative calm across the Taiwan Strait and come after the Trump administration announced arms sales to the island.
- Peng Peiyun, 95, Dies; Official Renounced China’s One-Child Policy — She was given the “hardest job under heaven”: upholding birth limits enforced by often brutal local officials. She came to support softening the policy, then abolishing it.
Caixin
- China Rolls Out Nationwide Cross-Border Cash-Pooling Program — The final rules extend the transition period for existing cross-border balances.
- Bank of China Executive Probed in Expanding Zhejiang Banking Crackdown — Cheng Jun, head of Bank of China’s Zhejiang provincial branch, becomes fifth senior banker in the province to face investigation.
- Reusability Takes Center Stage in China’s New Rocket IPO Rules — Shanghai Exchange demands space firms prove real launch capacity before listing, highlighting commercial viability.
- China Launches $14 Billion State Fund to Back Strategic Tech Industries — The national venture capital guidance fund aims to mobilize 1 trillion yuan.
- Geely Unit Sues Battery Supplier Sunwoda For $329 Million Over Alleged Defects — Disputed battery cells were supplied between 2021 and 2023 by Sunwoda to Vremt, a battery-systems provider jointly owned by Zeekr and Geely Automobile Group.
South China Morning Post
- How Algeria could help China plug iron ore gaps and gain pricing power — The Gara Djebilet deposit in the Sahara Desert was discovered decades ago but is only now coming into production.
- Is China quietly preparing cargo ships to transform into military vessels in case of war? — Containers bear the words ‘plan for the maritime revival of the Chinese nation and the community of shared future for mankind in the ocean’.
- Dozens of Chinese EV makers under pressure to fold or trim operations in 2026 — Grappling with expiring cash subsidies and tax incentives, China’s car market is forecast to see deliveries slump next year.
- Record Taiwan arms deal casts shadow over Trump’s 2026 Beijing visit — The US defends new arms sales and urges ‘meaningful’ dialogue, but analysts warn the deepening rift risks hollowing out the agenda for the Trump-Xi summit next year.
- Why are rich Chinese ‘quietly’ moving private jets offshore, slumming it in budget seats? — Strict flight rules and economic headwinds are forcing scrutiny-wary tycoons to rebase aircraft in places such as Singapore or downgrade to commercial cabins.
Nikkei Asia
- Trump tariffs spur copycat policies as countries try to limit China imports — Mexico raises levies on imports as Chinese goods shut out of US hit the market.
- China’s Zhipu and MiniMax race to go public ahead of OpenAI and Anthropic — Startups aim to raise a combined $1bn in Hong Kong IPOs.
- China’s ballooning debt heightens deflation risks — Overleveraged households, business reluctant to spend more.
Bloomberg
- Xi’s Triumphant Year Staring Down Trump Belies Woes in China — Beneath the diplomatic victories, Xi still has plenty of worries at home — from structural economic vulnerabilities to a personnel purge.
- China Swipes at Trump in Move to Be Thai-Cambodia Peacemaker — China took thinly veiled swipes at Trump’s efforts to end a border clash between Thailand and Cambodia, with Beijing seeking a role as a peacemaker between the Southeast Asian neighbors.
- US Rare Earth Buyers Still See China Curbs Despite Trump Deal — China is still restricting the rare earth elements that the US needs to produce its own permanent magnets even after Trump reached a deal with his Chinese counterpart in October.
Reuters
- China passes revised foreign trade law to bolster trade war capabilities — Revisions to a key piece of legislation are aimed at strengthening Beijing’s ability to wage trade war, curb outbound shipments, and further open its $19 trillion economy.
Other Publications
- Foreign Affairs: How China Carved Up Myanmar — Beijing’s Strategy to Create Stability Through Dependence.
- POLITICO: 4 ways China-US relations could fracture in 2026 — Dozens of lawmakers foresee a surge in tensions over trade, Taiwan or supply chain disruptions possibly scuttling the current pause in US-China economic hostilities.
- The Washington Post: China expands nuclear warhead manufacturing capacity, research finds — Satellite images suggest China is growing the sites where it makes warheads, while also preparing to retaliate faster — signs of its nuclear ambitions.
- BBC: Catching the hunters trapping rare songbirds in China — Each year, tens of thousands of birds are caught in nets across China for the pet trade, or for meat.
