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
- Battery Maker CALB Falls in Hong Kong Debut — Chinese electric-vehicle battery maker CALB Co. fell in its Hong Kong trading debut, becoming the latest newly listed company in the Asian financial hub to struggle with a cooling equities market.
- Virgin Atlantic Quitting Hong Kong Deals Blow to Aviation Hub’s Revival — Hong Kong faces hurdles in reopening despite easing Covid-zero border restrictions; airline blames closure of Russian airspace.
The Financial Times
- Chinese battery group spun off from missile maker falls on trading debut — CALB’s IPO marks latest lukewarm reception for Chinese companies listing in Hong Kong.
- Hollywood says farewell to Chinese investment bonanza — Geopolitics and the pandemic put paid to the deals boom of the 2010s.
- Xi cracks down on disloyalty ahead of Communist party congress — Corruption sentences serve as warning against disobedience but also expose leader’s ‘dirty work’.
- China’s zero-Covid grip upends ‘golden week’ for tourism industry — Travellers quarantined in hotel rooms as officials on high alert ahead of Communist party congress.
- Huawei to relaunch 5G phone despite US sanctions — Chinese tech group works to bypass penalties by redesigning phone to avoid restricted advanced chips.
- Taiwan blocks Hong Kong migrants over KPMG China and Cathay links — Taipei’s tighter controls reflect security concerns fuelled by pressure from Beijing.
The New York Times
- Covid Death of Li Wenliang, the Doctor China Tried to Silence — A New York Times video investigation reveals new details about the death of Dr. Li Wenliang, a national hero who faced censorship after sounding an early alarm on Covid-19.
- In Global Slowdown, China Holds Sway Over Countries’ Fates — The lender of choice for many nations over the past decade, Beijing now has the power to cut them off, lend more or forgive some of their debts.
South China Morning Post
- China’s internet watchdog vows another crackdown against Covid-19 rumours amid anger over pandemic policies — The Cyberspace Administration of China said online misinformation has sowed panic and anger over the government’s Covid policies, among other issues.
- Consulates in Hong Kong faced with ‘unusual’ request from Beijing for information on their city properties — Chinese foreign ministry seeks details on properties used by consulates and international organisations.
- Brazil eyes Taiwan’s semiconductor capital to grow advanced chip industry in Latin America’s biggest economy — Brazilian authorities announced plans in April to develop the nation’s nascent semiconductor sector, and they’re looking to Taiwan’s world-leading industry for guidance.
Nikkei Asia
- Analysis: China’s power struggles were ferocious in 1972 and remain so today — Normalization with Japan was risky for all the players involved.
- Chinese lithium battery maker CALB finishes flat in Hong Kong debut — City’s biggest IPO this year raised $1.29 billion but share-sale market weak.
Bloomberg
- Secretive Chip Startup May Help Huawei Circumvent US Sanctions — PXW, run by an ex-Huawei exec, is building a fab to make chips.
- Alipay Drops Off List of Shanghai Priority High-Tech Firms — China’s mobile payment giant Alipay was removed from a high-tech company list in Shanghai, adding to the woes at billionaire Jack Ma’s fintech operation.
- Taiwan to Make Military Service Extension Announcement This Year — Taiwan will make an announcement on extending its four-month military conscription requirement by the end of this year, Defense Minister Chiu Kuo-cheng said, in the latest sign Taipei is taking a potential war threat from China more seriously.
Reuters
- Rich mainland Chinese snap up luxury homes in Singapore despite tax hikes — Wealthy mainland Chinese have been the top foreign buyers of expensive private properties in Singapore this year as the city-state reaps the benefits of post-pandemic reopening and a relatively strong currency, despite tax increases.
- Australia casino operator Star found unfit for Queensland licence — Australia’s Queensland state declared casino operator Star Entertainment Ltd unsuitable for a gambling licence on Thursday after an inquiry found it concealed illegal Chinese wagering payments and lured problem gamblers from interstate.
Other Publications
- Associated Press: UN rights body rejects Western bid to debate Xinjiang abuses — At the 47-member state Human Rights Council, 17 countries voted in favor, 19 were against, and 11 abstained in a vote to hold a debate on Xinjiang at its next session in March.
- The Economist: Why China’s policymakers are relaxed about a falling yuan — They have learnt how to walk down stairs.
- Politico: U.S. lawmakers slam U.S. corporate executives’ Hong Kong trip plans — The Wall Street bankers are accused of ignoring Treasury sanctions against territory’s leader.
