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
- China’s Reopening Complicates Global Fight Against Inflation — Stronger Chinese economy will boost demand for commodities but could ease supply-chain bottlenecks, sending mixed signals for central bankers.
- Chinese ‘Revenge Spending’ Might Not Hit U.S. Levels — China’s postpandemic consumer boom will be different than the U.S.’s.
- U.S. Weapons Industry Unprepared for a China Conflict, Report Says — The war in Ukraine is highlighting the inability of U.S. arms companies to replenish the military’s stocks.
- China’s Global Mega-Projects Are Falling Apart — Many of China’s Belt and Road infrastructure projects are plagued with construction flaws, including a giant hydropower plant in Ecuador, adding more costs to a program criticized for leading countries deeper into debt.
The Financial Times
- Rural China runs short of Covid drugs over lunar new year holiday — Officials row with Pfizer over price as villages struggle to obtain antiviral medication.
- China’s drug-pricing policy impedes biotech profits — Beijing’s push to boost the sector has been undermined by reimbursement rules.
- US warns overdose crisis will spread overseas without action from China — White House drugs tsar says Beijing needs to tighten rules on supply of raw materials to make fentanyl.
- China celebrates lunar new year as Covid infections hit 80% — Holiday travel low risk because so many have had the disease, says top government epidemiologist.
- China’s women make a strong case with a birth strike — In its focus on GDP growth, Beijing has forgotten where its labour force comes from.
- UK High Court judge finds ‘striking consensus’ of abuses in Xinjiang — Justice Dove rejects legal challenge brought against UK government over cotton imports but makes damning assessment.
The New York Times
- China’s Mad Dash Into the Solomon Islands Breeds Resentment — For years, Beijing has thrown its wealth and weight across the globe. But its experience in the Solomon Islands calls into question its approach to expanding its power.
- IVF Offers Hope in China, Even to the Government — China is trying urgently to address its declining population. One idea is to subsidize assisted fertility procedures, which are often a last resort for couples and out of reach for many.
- China Celebrates Lunar New Year After ‘Zero Covid’ With Caution — With strict Covid restrictions lifted weeks ahead of the country’s most important holiday, millions, joyful yet anxious, could finally travel and reunite with family.
- Taiwan’s Top Diplomat in Washington Walks a Delicate Line — Taiwan’s representative, Bi-khim Hsiao, calls herself a “cat warrior” walking a delicate diplomatic line. China calls her a troublemaker who could trigger a war.
Caixin
- Chipmaker Hua Hong Plans $4 Billion JV to Boost Production — Chinese contract chipmaker Hua Hong Semiconductor Ltd. plans to launch a $4 billion joint venture to boost much-need production capacity, with partners including the scandal-plagued state-backed semiconductor investor the “Big Fund.”
South China Morning Post
- Chinese academic tells students to talk to their parents about the Mao era to understand ‘basic facts’ — Political scientist Yan Xuetong encourages students to find out about China’s history, including the Cultural Revolution.
- Blizzard game fans in China bid farewell to beloved titles like World of Warcraft, as licensing pact with NetEase ends — Blizzard games have been popular among Chinese players for years. But as its partnership with Netease ends, some gamers say they are ready to move on.
Bloomberg
- Germany and France Push for Huge Spending to Compete With US — Germany and France warned that European businesses will need to unleash investments on a nearly unparalleled scale to keep from falling behind US and Chinese firms as countries revamp their economies to make them more climate friendly.
- Hong Kong Aims to Scrap Testing, Quotas on China Border Travel — Hong Kong is looking to drop the requirement that travelers to and from mainland China get a PCR test and seeking to remove the cap on people crossing the border, according to the city government’s No. 2 official.
- Alibaba Seen Fighting Off Cohen’s Pressure for Stock Buybacks — ‘It will be hard for Cohen to move the needle’: analyst.
Reuters
- China says COVID outbreak has infected 80% of population — The possibility of a big COVID-19 rebound in China over the next two or three months is remote as 80% of people have been infected, a prominent government scientist said on Saturday.
- Exclusive: Geely plans to turn maker of London black cabs into EV powerhouse — London Electric Vehicle Company (LEVC) also aims to expand its suite of services, which include cars arranging their own maintenance and recognising their owner’s interests to help them book activities.
Other Publications
- Foreign Affairs: China’s New Anti-Uyghur Campaign — How the World Can Stop Beijing’s Brutal Oppression. By James Millward
