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
- Russia, China Close In on Pipeline Deal, Leaving Beijing With the Upper Hand — Power of Siberia 2 pipeline would boost Russia’s gas deliveries to China and tighten ties between the two countries as their relations with the U.S. worsen.
- China Flaunts Military Might With Lavish Parade — and Sends Warning to Washington — Xi Jinping rolls out his latest weapons and a red carpet for Russia’s Vladimir Putin and North Korea’s Kim Jong Un.
- A Guide to China’s New Weapons on Parade in Beijing — A Guide to China’s New Weapons on Parade in Beijing.
- China Is Using the Private Sector to Advance Military AI — A wide variety of companies and universities is helping the People’s Liberation Army modernize with cutting-edge technology, new data shows.
- U.S. Curbs TSMC’s Shipments of Chip Supplies to China — The authorization will be revoked effective Dec. 31.
- China Services PMI Expands at Fastest Pace in Over a Year — Although sector momentum has been resilient, mounting cost pressures could start hurting corporate profits.
- Meet the Guy Who Drives a Street-Legal Chinese EV in the U.S. — Automaker BYD brought its e6 to America in the 2010s. Unbeknown to virtually everyone, a few survived.
The Financial Times
- Lasers, hypersonic missiles and the ‘nuclear triad’: China flexes its military muscle — Xi Jinping presided over a parade showcasing the latest weaponry in Beijing’s arsenal.
- Xi hails ‘unstoppable’ China at landmark military parade with Putin and Kim — Beijing sends ‘peace or war’ warning while Trump accuses leaders of ‘conspiring’ against U.S.
- U.S. curbs TSMC’s tool shipments to China — Sending American chipmaking tools to Nanjing plant will now require U.S. licences.
The New York Times
- Xi Parades Firepower to Signal That China Won’t Be Bullied Again — The parade, attended by the leaders of Russia and North Korea, had a defiant message. President Trump fired back, accusing Xi Jinping of ignoring America’s role in World War II.
- A Hidden Camera Protest Turned the Tables on China’s Surveillance State — Before fleeing China, an activist in Chongqing staged an elaborate one-man demonstration against the Communist Party that doubled as performance art.
- China’s Military Spectacle — China used a parade of fighter jets, missiles and goose-stepping troops to honor the country’s wartime sacrifice and issue a defiant warning to rivals.
Caixin
- Ex-UBS Banker in Hong Kong Jailed 10 Years for Laundering $17.2 Million — Sun Jianrong diverted HK$134 million from Chinese mainland clients, fueling a lavish lifestyle that unraveled in 2018.
- Ex-Bank of China Executive Becomes Unreachable — Lin Jingzhen isn’t answering his phone and his public daily step tracker has been at zero since Friday.
- Two Big Questions Face Chinese Firms Investing in Vietnam — Choosing suppliers and factory sites are critical decisions for companies looking to manufacture in the Southeast Asian country.
- China to Add Russians to Visa-Waiver Program — One-year trial policy comes as travel between the neighbors is expanding rapidly.
South China Morning Post
- These are the powerful weapon systems you won’t see in China’s military parade — From next-generation stealth fighters to strategic missile defence, some of the PLA’s key assets will be absent from next week’s spectacle.
- As China exports to Russia dip on less car demand, new deals show ‘room to grow’ — With more than 20 bilateral agreements signed during Vladimir Putin’s visit to China, analysts say manufacturers could find relief from cutthroat price competition.
Nikkei Asia
- Wall Street firms involved in Chinese IPOs face scrutiny — Congressional committee sends subpoenas to heads of JPMorgan and Bank of America.
- America’s ‘New Right’ says AI threatens both U.S. and China — Conservative movement breaks with tech titans at annual conference.
Bloomberg
- China’s Rich Return to Risky ‘Snowball’ Derivatives for Yields — The push underscores the dearth of high-return opportunities as interest rates have slid in China amid an effort by officials to prop up growth.
- A Stock Trader’s Guide to Navigating China’s Military Parade — Investors are focused on equipment upgrades and emerging technology.
- Here’s the Military Hardware China Showed Off at Xi’s Parade — New missiles, a directed-energy weapon and robot dogs were among the weapons on display.
Reuters
- How much gold will be enough to diversify China’s reserves? — A surge in buying highlights a broader trend of developing economies seeking to diversify from the dollar.
- China’s parade of new weaponry sends message of deterrence — For the first time, China displayed its full nuclear triad of weapons that can be deployed from land, sea and air.
Other Publications
- The Economist: China turns crypto-curious — But would the country’s leaders really want stablecoins to succeed?
- The Atlantic: Putin and Xi Are Holding the West Together — Trump gave America’s adversaries an opportunity they haven’t seized.
- POLITICO: Congress pulls the rug on U.S. plan to beat Huawei — U.S. officials of both parties spent years struggling to develop homegrown alternatives to China’s telecom giants. The GOP abruptly defunded its biggest tool.
- Rest of World: My mom and Dr. DeepSeek — In China and around the world, the sick and lonely turn to AI.
- CSIS: China’s Military in 10 Charts — The PLA’s modernization is far from complete and faces significant obstacles, but Chinese leader Xi Jinping has made it a top priority and is relentlessly pushing for progress.
- Brookings: The countdown to a Trump-Xi summit — Trade and investment issues such as China’s overcapacity, investment pledges, and purchases of U.S. goods, as well as fentanyl, are certain to feature prominently.
