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
- 14-Hour Shifts and $1 a Delivery—but China’s Army of Gig Workers Keeps Growing — Two hundred million people are turning to food-delivery apps and other informal roles as job creation slows.
- Chinese AI Chip Maker Biren Technology Plans $623 Million Hong Kong IPO — The company expects its shares to start trading in Hong Kong on Jan. 2.
- Opinion: The U.S. Can’t Get Xi Hooked on Nvidia Chips — The exports will relinquish our lead in frontier AI models while actively supporting China’s military and economic advancement. By DMITRI ALPEROVITCH.
The Financial Times
- Inside Tencent’s deal to use Nvidia’s best AI chips in Japan — Contracts with Chinese tech giant have rapidly turned Datasection into one of Asia’s biggest ‘neoclouds.’
- China hits EU dairy industry with levies of up to 42.7% — Move stokes an already strained trading relationship between Brussels and Beijing.
- Chinese stocks cool on weak economic data — Profit-taking has also brought this year’s steep rally to an end in the last quarter.
The New York Times
- ‘Orwellian Climate of Fear’: How China Cracks Down on Critics in the U.S. — The Chinese government once focused on political dissidents and exiled activists. Now, federal officials say, it is targeting artists in the United States whose creative protests test its tolerance.
- Opinion: The U.S. Must End China’s Rare Earth Dominance — Now that China has successfully squeezed the Trump administration, similar tactics in other realms are easy to imagine. By the Editorial Board.
Caixin
- How China Inc. Is Discovering Its New World in Brazil — Brazil, Latin America’s largest economy and a global top-10 powerhouse, represents a new world of opportunities.
- China Exchanges Open Bond Repo Trading to Foreign Investors — China’s two major stock exchanges have authorized foreign institutional investors to conduct bond repurchase transactions.
- Ping An to Sell Control of Listed Company to Chip Consortium — Ping An Insurance (Group) Co. of China Ltd. has agreed to sell control of China Hi-Tech Group Co. Ltd. to Yangtze Semiconductor.
South China Morning Post
- China speeds up armour steel production by 30% as U.S. Conshohocken plant folds — Chinese military supplier solves tech snag to boost manufacturing levels, while American counterpart ceases operations due to financial loss.
- China eases visa rules for India, tapping into $21.6 billion travel market — Indian nationals will now be able to apply for Chinese visas online as Beijing and New Delhi gradually move to normalise economic ties.
- ‘Pax Silica’: America’s new AI inner circle and Asia’s chosen few — Japan, South Korea and Singapore made the cut, leaving key partners like India and Vietnam – and even New Zealand – on the sidelines.
Nikkei Asia
- China’s Moore Threads unveils new chip in homegrown AI race — CEO claims performance nears that of Nvidia’s Blackwell chips.
- Homegrown luxury hotels make their mark in mainland China — Fueled by cultural confidence, boutique brands are rewriting the hospitality playbook.
- China Vanke exits venture with Singapore’s GIC ahead of bondholder verdict — Developer’s quest to avoid default hinges on voting results expected in hours.
Bloomberg
- Ex-Nvidia Billionaire Unveils New AI Chips After China IPO Debut — The company’s new architecture, named Huagang, will elevate computational density by 50% and improve energy efficiency by ten times, according to CEO Jianzhong Zhang.
- China Paces Yuan Gains to Shield Exporters, Curbing Carry Trade — The Chinese yuan’s appreciation since April is unfolding at a pace that neutralizes any benefits from holding higher-yielding dollars.
- Russia LNG Exports to China Rise to Record, Surpassing Australia — Deliveries of the super-chilled gas from Russia more than doubled from a year earlier to 1.6 million metric tons last month.
Reuters
- China’s power reforms, global data centre buildout usher in battery boom — China lithium-ion battery cells for energy storage tipped to jump 75% this year.
- China files WTO case against Indian tariffs, subsidies — China has filed a case against India’s tariffs on information and communications technology products and Indian photovoltaic subsidies.
- China says U.S. seizure of ships ‘serious violation’ of international law — Venezuela has the right to develop relations with other countries, China’s foreign ministry spokesperson Lin Jian said at a daily press briefing.
- Porsche to wind down charging network in tough China market, agency reports — Porsche China will instead focus on deeper cooperation with leading third-party charging operators, according to the report.
Other Publications
- The Washington Post: In the Year of the Snake, China is charmed by ‘Zootopia 2’ pit viper Gary — The highly anticipated sequel to the 2016 hit has earned more than $540 million in China since its release.
- The Guardian: Kimchi, made in China: how South Korea’s national dish is being priced out at home — In the first 10 months of this year, South Korea imported $159m worth of kimchi, almost entirely from China, while exporting $137m.
