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
- In China’s Property Sector, There Is Nowhere to Hide — Default by CIFI, one of the private developers approved to issue state-guaranteed debt, is driving sentiment even lower.
- Nvidia, Applied Materials Warnings Cast Shadow on Chip-Earnings Season — Falling demand and U.S. restrictions on semiconductor exports to China pressure industry.
- Why Another Xi Jinping Term Might Be in U.S.’s Interest — Xi has made China’s challenge to the West clearer but its economic prospects darker.
The Financial Times
- Australia probes reports its former pilots were approached to train China’s military — Former Australian and New Zealand air force staff alleged to have been offered lucrative sums to teach PLA cadets.
- Hong Kong launches $3.8bn fund to lure back international business — City will ‘trawl the world for talent’, says chief executive John Lee in maiden policy address.
- Foreign Office summons Chinese diplomat over assault at Manchester consulate — MPs demand expulsion of consular staff involved in attack on Hong Kong protester.
- Xi’s control of fortress China is a watershed moment — His likely reaffirmation as leader comes amid efforts to combat internal and external threats.
- Opinion: Containing China is Biden’s explicit goal — US efforts to isolate Beijing’s high-tech sector may accelerate Xi Jinping’s bid to take control of Taiwan. By Edward Luce
The New York Times
- South Korea Gets Squeezed Between the US and China — The intensifying rivalry between Washington and Beijing is causing jitters in South Korea, where security ties and economic priorities are not always aligned.
- China’s GDP Data Delay Points to Murky Economic Picture — The delay in announcing routine growth data this week was only the latest example of how hard it has become to peer into China’s economy, the world’s second largest.
- Opinion: America and China Don’t Need to Knock Each Other Out to Win — China and the United States should invest more resources in a vision of success not defined by undermining the other. By Jessica Chen Weiss
Caixin
- In Depth: Chinese Internet Giants Gear Up for Global E-Commerce Push — Pinduoduo, Alibaba, JD.com and rivals are hunting for international growth opportunities after maxing out the domestic market.
- Hong Kong Steps Up Efforts to Lure Billionaires’ Business — Officials are planning roadshows across Asia and Europe to showcase the city’s advantages as a base for family offices of the super-rich.
- Alipay Tests New Feature to Ease Money Transfers to WeChat Friends — Trial may represent a step toward connecting China’s two dominant mobile payments services in line with goals staked out by the central bank.
South China Morning Post
- Exclusive: China’s ideology tsar Wang Huning tipped to head the National People’s Congress — Wang is already a core member of the Politburo Standing Committee and could rise up the order as many other faces change.
- Taiwan easing visa rules amid ‘intensifying’ talent war with mainland China, Hong Kong — Taipei is discussing relaxing visa and residency rules for foreign professionals under its Taiwan Employment Gold Card with its population set to start declining in 2031 due to a low birth rate and competition from mainland China and Hong Kong.
- Do ethnic minorities add more than just a dash of colour on China’s political stage? — Experts say ethnic minority representation in the senior leadership will continue to weaken as Beijing places more focus on integration in one national identity.
Nikkei Asia
- Will intellect behind 3 decades of China’s policies soon exit power? — Wang Huning drew flack for anti-West stance, but successor could take harder line.
- Hong Kong unveils foreign ‘talent trawl’ to halt brain drain — Tax breaks, easy visas among moves to reboot city as global business hub.
- Australia, South Pacific islands bolster ties as China’s clout grows — Canberra ramps up diplomacy via regional defense chiefs’ meeting and bilateral talks.
Bloomberg
- TikTok Security Deal Is Likely to Leave US Data Leaking to China — TikTok users would still risk having personal data exposed to hacking and espionage by China even if the Biden administration forges a security agreement designed to spare the video platform from a total US ban.
- US Chip Sanctions and Covid Spawn China’s Secondhand Semiconductor Market — A worldwide shortage has spawned a gray market for semiconductors, where chips that may be out-of-date or stolen can sell for vastly inflated prices.
- Hong Kong’s Plan to Reverse Expat Exodus Disappoints Investors — Hong Kong Chief Executive John Lee’s long-awaited plan to woo back foreign talent and ease housing woes fell flat with investors, underscoring the challenge facing the financial hub as it tries to bounce back from years of turmoil.
- How Hong Kong’s New Expat Visas Stack Up Against Singapore’s — Hong Kong is overhauling visa rules to attract foreign talent as it battles with rival finance hubs like Singapore for talent following nearly three years of pandemic isolation.
Reuters
- ASML shrugs off slowdown, U.S. China sanctions, reports strong Q3 — ASML Holding NV, a key equipment supplier to computer chip manufacturers, on Wednesday reported better-than-expected third-quarter sales and profit along with record new bookings, boosting its shares.
- UK tells Chinese envoy: peaceful protest must be respected — Britain told China’s Charges d’Affaires in London that the right to peaceful protest must be respected, after he was summoned to explain an incident in which a protester was seen being pulled into the grounds of the Chinese consulate and beaten.
- Analysis: Japan rushes to rearm with eye on 2027 – and China’s Taiwan ambitions — Between China’s 20th Communist Party Congress, that began Sunday, and the next one in 2027, Japan will undertake its biggest arms buildup since World War Two in a race to deter Beijing from war in East Asia, according to Japanese government officials and security analysts.
Other Publications
- Associated Press: China claims right to protect consulate; UK decries assault — China’s Foreign Ministry said Tuesday its diplomatic missions abroad have the right to “take necessary measures” to maintain security after British police opened an investigation into the assault of a Hong Kong protester who alleged he was dragged into the Chinese Consulate in Manchester and beaten up during a demonstration.
- Foreign Affairs: How Silicon Valley Lost the Chips Race — Money Alone Won’t Revive the U.S. Semiconductor Industry. By Chris Miller
- The Telegraph: ‘Hostile state’ workers must register for US-style ‘foreign influence’ scheme — New law aimed at Russia and China where ‘anyone’ carrying out ‘any activity’ who fails to register, faces up to five years in jail.
- Vice World News: Anti-Xi Jinping Posters Are Spreading in China via AirDrop — “This is the first time I saw or received a medium of any kind that is critical of the current regime.”
