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
- Nvidia CEO Says Chinese Demand for Its AI Chips Is ‘Quite High’ — ‘H200s are flowing’ since the company won White House approval to sell the processor in China, Jensen Huang says.
- IKEA to Close Seven Stores in China as Part of New Focus on Smaller Outlets — The retailer will still operate 34 stores in the country following the closures and plans to open more than 10 small-format shops in the next two years.
- China’s Forex Reserves Rose in December as Yuan Debate Mounts — The Chinese yuan appreciated 3.3% against the dollar in 2025.
The Financial Times
- Nvidia stepping up H200 production ahead of sales to China, Huang says — Company confident ‘last details’ of deal with White House to resume AI chip exports will be finalized soon.
- China reviews Meta’s $2bn purchase of AI start-up Manus — Commerce ministry assessing whether deal for Chinese-founded group violates technology export controls.
The New York Times
- U.S. Pressures Venezuela to Expel Advisers From Cuba, China, Russia and Iran — Secretary of State Marco Rubio was said to have listed the Trump administration’s demands to Venezuela’s new leader, Delcy Rodríguez, in a classified meeting Monday with senior congressional leaders.
- China’s Threat to Block Rare Earths Has Put Japan on High Alert — Tokyo is concerned at signs that Beijing may be laying the groundwork to restrict access to the metals vital to manufacturing.
- China Touts Hainan, Its Duty-Free Island, Amid $1 Trillion Trade Surplus — Policies meant to lure importers to Hainan, a resort island off China’s coast, signal an opening up, Beijing says. One expert calls it a “bait and switch.”
Caixin
- South Korea Tops China’s Outbound Travel List, Dethroning Japan — Political tensions, airline refunds and shifting travel trends are redrawing Asia’s tourism map.
- China’s Record Trade Surplus Spurs Reckoning for Yuan — While a stronger Chinese currency could cool trade frictions and boost consumer buying power, economists argue the real economic fix lies in a much harder task.
- China’s Largest Snack Retailer Takes Step Closer to Hong Kong IPO — Busy Ming’s rise highlights the rapid ascent of the discount snack sector, where major players have expanded aggressively through franchising to capture price-conscious consumers.
South China Morning Post
- Shanghai unveils $10 billion investment spree as U.S.-China tech race heats up — Shanghai announces 50 new projects across an array of hi-tech industries as China’s cities heed Beijing’s call to double down on innovation.
- China initiates anti-dumping probe against Japan over key semiconductor chemical — Beijing’s investigation targets imports of dichlorosilane from Japan, alleging dumping that harms Chinese production, amid escalating bilateral and trade tensions.
- China’s top lithography bet shifts gears: SMEE sells subsidiary in strategic pivot — State-backed SMEE, often dubbed China’s best ASML challenger, has sold Shanghai Weiyao to AMIES in a move that prioritises tool development.
Nikkei Asia
- Toyota doubles down on internal combustion engines despite China EV shift — Eyeing U.S. market, Japanese automaker sees hybrids, its strong point, as key.
- Japanese industry braces as China tightens dual-use item export controls — Tokyo says details ‘unclear’ as fears grow over access to rare earths.
- China’s domestic procurement drive squeezes foreign companies — Tough choice comes down to transferring key tech or losing access to vast market.
Bloomberg
- OpenAI Challengers Test Appetite for Chinese AI With Twin Debuts — It is a litmus test of whether investors believe China’s fledgling AI industry can compete on a global stage.
- Maduro’s ‘Perfect Union’ With China Hides Deep Economic Rupture — His 12-year rule already led to an unwinding of financial ties with Beijing.
- Here’s How Japan Can Hit Back at China’s New Export Controls — Japan’s response is likely to be cautious due to limited options for retaliation and a lack of appetite to escalate tensions with its largest trading partner.
Reuters
- China’s top diplomat tours Africa with focus on strategic trade routes — Foreign Minister Wang Yi will travel to Ethiopia, Somalia, Tanzania and Lesotho.
- China buys more U.S. soybeans, total purchases approach 10 million tons — Beijing has stepped up U.S. soybean purchases despite a domestic supply glut driven by record South American arrivals and weak demand.
Other Publications
- Foreign Affairs: The Transactional Trap — How Foreign Policy Dealmaking Can Sow Violence.
- Rest of World: In Chinese data factories, workers teach humanoid robots boring tasks — Local governments are building training centers to address a shortage of robotic data, as China makes embodied intelligence a national priority.
- Foreign Policy: The Real Reason China and Russia Won’t Try a Maduro-Style Raid — U.S. rivals aren’t deterred by norms so much as by the limits of their own militaries.
