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.
Paid subscribers automatically have this list emailed directly to their inboxes every day by 10 a.m. EST. Subscribe here.
The Wall Street Journal
- China’s Surveillance State Pushes Deeper Into Citizens’ Lives — Xi has taken government tracking to new levels during the pandemic.
- Indonesia’s Battery Success Runs on China and Coal — Indonesia is clambering up the battery sector supply chain in a way that raises sticky questions for the West.
- U.K. Considers Further Action Over Beating of Protester at Chinese Consulate — Foreign Secretary James Cleverly called Chinese diplomats’ behavior unacceptable after clash in Manchester; China blames protesters for incident.
- Video: U.S. vs. China: Military Bases Reveal Strategies to Extend Global Reach — Military experts say the U.S. and China have different objectives in setting up military outposts.
The Financial Times
- Hong Kong stocks hit 13-year low as Chinese growth slows — Hang Seng index falls as much as 3% to lowest level since May 2009.
- Fosun divestments near $5bn as debt pressure mounts — Chair Guo Guangchang negotiating $2bn loan from Chinese banks.
- US Navy chief warns China could invade Taiwan before 2024 — Biden administration expects Beijing will put reunification plans on ‘much faster timeline’.
- Biden goes it alone in his trade assault on China — The US is taking a big risk in imposing semiconductor export controls without allies on board.
- US midterms countdown: Republicans bank on inflation — Corporate China shut out of Xi Jinping’s party congress.
- Tencent steps up buybacks as share price sinks — Chinese tech group has increased repurchases to spend more than $3bn this year.
- Corporate China shut out of Xi’s party congress — Adherence to ideological teachings ranks higher than business success for attendees.
- Chinese carmakers take another crack at the German market — Stronger supply chains and better safety records are key to hopes for growth.
The New York Times
- Sun Chunlan Nears Retirement With Few Women in China’s Communist Party — Mao’s phrase that “women hold up half the sky” rings hollow as China’s most powerful female politician prepares for retirement with few others in line.
- In Britain, Demands for Tough Response After Beating at Chinese Consulate — Activists who fled Hong Kong and some British lawmakers have called for a tough government response to the episode in Manchester, as the man who was beaten spoke out.
- How Taiwan’s ‘Adorable’ and Ambitious Diplomacy Aims to Keep the Island Safe — Even as China’s threats on reunification grow more pointed, most recently at the Communist Party congress, Taiwan is working creatively to bolster its alliances.
- Opinion: No, Capitalism and the Internet Will Not Free China’s People — The Communist Party’s war on independent thought continues. By Ai Weiwei
Caixin
- In Depth: The Sudden Reversal of the Global Chip Shortage — Remember the global semiconductor shortage a few months ago? It’s over.
- China’s Central Bank Gets New Deputy Governor — Finance veteran Xuan Changneng, who worked for JPMorgan Chase in the U.S., replaces Chen Yulu at the PBOC.
South China Morning Post
- US chip equipment makers calculate revenue losses in the billions after Washington’s curbs on China exports — US chip equipment supplier Lam Research said lost sales to China could amount to US$2.5 billion next year after Washington restricted exports of American semiconductor technology.
- Nord megayacht linked to sanctioned Russian billionaire steams out of Hong Kong waters for South Africa — Yacht, believed to be owned by steel and mining tycoon Alexei Mordashov, sparked diplomatic row between Beijing and Washington after its arrival.
- China’s Xi Jinping sends ‘warning signal’ to the wealthy as he opens new front in ‘common prosperity’ push — President Xi Jinping’s report to the 20th party congress signalled more robust regulation to evenly distribute the spoils of China’s rapid development, sparking speculation about who might be targeted and how.
- Hong Kong leader John Lee plays down suggestion emigration wave sparked by unhappiness, calls it a ‘rough’ conclusion — Chief executive, addressing critics a day after maiden policy address, says ‘everyone has a different story’ to leave.
Nikkei Asia
- Analysis: Xi’s coronation ceremony opens on date of China’s first atom bomb — Leader talks up Taiwan ‘mission’ as he makes play for third term amid economic downturn.
- China signals ‘fighting spirit’ diplomacy under Xi Jinping — Beijing vows muscular response amid spat with Britain over attack on protester.
- Hong Kong chief warns of ‘unimaginable threats’ to city’s security — John Lee points to spies and ‘color revolutions’ as he echoes President Xi.
Bloomberg
- China Summons Chip Firms for Emergency Talks After US Curbs — China’s top technology overseer convened a series of emergency meetings over the past week with leading semiconductor companies, seeking to assess the damage from the Biden administration’s sweeping chip restrictions and pledging support for the critical sector.
- Xi’s Vow to Regulate Wealth Spurs Calls for Taxing the Rich — Chinese President Xi Jinping’s pledge to regulate wealth has stirred speculation Beijing may impose property and inheritance taxes on the wealthy in pursuit of its “common prosperity” goal.
- Hong Kong May Let Bankers Who Get Covid Exit on Private Jets — Hong Kong is unlikely to make any major changes to Covid restrictions for inbound travelers before a banking summit next month, but is considering concessions including allowing attendees to leave the city via private jet should they test positive for the virus.
Reuters
- UK expects China to waive consulate officials’ immunity if they face police charges — Britain expects China to waive diplomatic immunity for any official facing police charges over an attack on a protester who was dragged inside the grounds of a Chinese consulate, a junior British foreign office minister said on Thursday.
- Chinese capital steps up COVID measures as cases quadruple — China’s capital, Beijing, has dialled up measures to stop COVID, strengthening public checks and locking down some residential compounds after a quadrupling of its case load in recent weeks, just as a key Communist Party congress entered full swing.
Other Publications
- The Economist: Will the Chinese of tomorrow live like the Spaniards of today? — Xi Jinping’s goal seems hard to imagine.
- The Economist: In his reports to the party, Xi Jinping signals change subtly — Our analysis of the Chinese president’s evolving phraseology.
- Associated Press: Fleeing Xi’s China, journalist makes fresh start abroad — Investigative journalist Wang Zhi’an once exposed corruption, land seizures, and medical malpractice in China, with millions of viewers and a powerful platform: state broadcaster CCTV. Wang now lives alone in central Tokyo after being blacklisted in his homeland.
- Associated Press: Allies blast Scholz over Chinese investment in German port — Lawmakers from two of Germany’s governing parties on Thursday slammed plans for Chinese shipping company Cosco to take a major stake in the operator of the country’s biggest container terminal, warning that they pose a national security risk.
- PIIE: Four years into the trade war, are the US and China decoupling? — US imports of some Chinese products have tanked. Others are higher than ever. How Trump’s selective trade war continues to matter.
