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
- Hong Kong Loses Court Bid to Ban Protest Song Appearing on Google — The ruling is the latest in a series of setbacks dealt by the city’s courts to local authorities that are seeking to eliminate dissent.
- Volkswagen Seeks to Reclaim China Crown in Deal With EV-Maker XPeng — German auto giant buys stake in a Chinese rival after praising the dynamism and innovation of local automakers.
- Europe Avoids China’s Belt and Road Forum, Keeping a Distance From Xi and Putin — Russia’s president has confirmed his attendance at planned summit, deterring Western countries that Beijing wants to win over.
- China’s Housing Troubles Derail a Developer’s Comeback — Country Garden came back from the brink last year, but investors still have big questions.
- Taiwan Amps Up Chinese-Invasion Drills to Deliver a Message: War Could Happen — Military and civilian exercises are larger, louder, better coordinated as government seeks to battle public complacency.
- Kim Jong Un Flaunts North Korea’s Newest Weapons With Russia and China by His Side — Pyongyang typically used to exercise more restraint at military parades with Chinese and Russian officials present, but no more.
The Financial Times
- Beijing pushes for Hong Kong’s leader to attend Apec summit in US — China says John Lee should get invite to economic gathering after report suggests he would be barred entry.
- China has impeded G20 climate talks, say observers — ‘Wrecking tactics’ come despite Washington and Beijing envoys’ attempts to rekindle discussions.
- Japan ‘gravely concerned’ by China-Russia military co-operation — Tokyo’s annual defence white paper highlights worries over shows of force by Beijing and Moscow.
The New York Times
- Judge Rejects Bid to Ban “Glory to Hong Kong” From Internet — The authorities sought a court injunction that could have pressured Google and other tech firms to remove “Glory to Hong Kong.”
- Typhoon Makes Landfall in China as Toll Rises in the Philippines — Typhoon Doksuri was bearing winds equivalent to a Category 2 hurricane when it hit China’s coast on Friday. Officials in the Philippines said dozens there had died.
- Japan Defense White Paper Affirms Stronger Military Strategy — In a defense white paper, Tokyo presents its case for engagement with allies to respond to threats posed by China and by Russia’s invasion of Ukraine.
- Quantum Tech Intended for National Security Is Testing U.S. Alliances — A global race to harness the power of atoms for navigation, computing and encryption is pitting concerns over protectionism against the spirit of cooperation.
- Volkswagen Seeks to Regain Edge in China as It Cuts Delivery Forecast — The German automaker lowered its outlook for deliveries and announced changes to its China strategy as it struggles to regain ground lost to other automakers.
- Opinion: Let the Tragedy in My Homeland Be a Lesson — Since 2017, the Chinese government has carried out a program of mass internment in my homeland. By Tahir Hamut Izgil.
Caixin
- In Depth: The Budding Market for Microscopic Organ Testing — A new technology combining minute, lab-grown slivers of the human body with microchips is piquing the interest of pharmaceutical companies and healthcare investors in China.
- China Broadens Program Bringing Local Debt Out of Hiding — More local authorities can put hidden debt on the public books in a test of converting dodgy financing into formal government bonds.
- China Plugs in National Platform for After-School Tutoring — Ministry of Education site hosts 111,000 tutoring institutions that passed muster on qualifications, capital, personnel and courses.
South China Morning Post
- ‘Encouraging sign’: Chinese and US climate envoys renew talks in lead-up to COP28, Apec summit — Xie Zhenhua and John Kerry sit down for video call a week after face-to-face discussions in Beijing.
- China’s Wang Yi sets out goals as foreign minister again, as Qin Gang’s name reappears on ministry website — Foreign Ministry spokeswoman tells media not to ‘over-decode’ matters as Qin’s information reappears on official website.
- Venture capital to China evaporates amid geopolitical hostilities and economic uncertainties — 2023 could be the worst fundraising year in a decade for all types of private capital in Asia-Pacific, driven by a shift in investment sentiment away from China, research firm Preqin says.
- Chinese anti-corruption investigators target top PLA Rocket Force generals, sources say — Military graft-busters are targeting the force’s current commander, Li Yuchao, and a past and present deputy, Zhang Zhenzhong and Liu Guangbin.
Nikkei Asia
- Evergrande EV unit shares drop 68% after 16-month suspension ends — Ailing Chinese property group’s car brand lost $12bn in the past 2 years.
- Vietnam’s Mekong Delta is sinking, but innovations offer hope — From lotus farms to ‘floating rice,’ farmers get creative in face of China dams, climate change.
- Chinese companies are canceling plans for Swiss listings — Low turnover, new regulations undercut Zurich’s appeal for mainland companies.
- China’s Pudu to supply cleaning robots to Japan hotels, eateries — Company known for cat-like robot waiters seeks to expand business.
Bloomberg
- Italy’s Meloni Says US Trusts Her Plan to Detach From China — Giorgia Meloni briefed US President Joe Biden on her plan to curb Italy’s reliance on China and to establish balanced ties with the Asian country, as she mulls a strategy to disentangle from a controversial investment pact.
- China Halts Schools, Flights as Typhoon Doksuri Lashes Coast — Typhoon Doksuri made landfall in southeastern Chinese province of Fujian Friday after killing at least 12 people in the Philippines and Taiwan, bringing torrential rains and gales and forcing local authorities to close schools, suspend public transport and evacuate more than 120,000 people.
- China’s Top Option for Next Naval Base Is Sri Lanka, Report Says — Sri Lanka tops the list of nations that may host a Chinese naval base in the coming years as Beijing seeks to expand its maritime capabilities, according to a new report.
- Opinion: Xi Jinping Has the HR Problem From Hell — The apparent purge of his foreign minister shows just how difficult it’s going to be for China’s leader to groom new talent. By Minxin Pei.
Reuters
- Exclusive: BYD tells India partner it wants to drop $1 bln EV investment plan-sources — BYD executives told Megha Engineering last week that it wanted to drop pursuit of the investment, according to the two people with knowledge of that exchange.
- Exclusive: New Taiwan weapons package to be announced soon, US officials say — One official, speaking on the condition anonymity, said the package is expected to be worth around $330 million.
- Global automakers scramble to reset China strategies as sales slow — For the first time, Chinese brands are market leaders, taking a 53% share in the first half of 2023, data from the China Association of Automobile Manufacturers (CAAM) showed.
The Economist
- In Xi Jinping’s China, central planners rule — When one plan misfires, expect another laid on top.
- Data on air bases suggest a Chinese invasion of Taiwan — But new data on air bases imply that war over Taiwan is just one of numerous Chinese military priorities.
- Could economic indicators signal China’s intent to go to war? — Before any missiles are launched, food and fuel must be bought.
Other Publications
- Pew Research Center: China’s Approach to Foreign Policy Gets Largely Negative Reviews in 24-Country Survey — Still, views of China – and its soft power – are more positive in middle-income countries.
- Foreign Policy: Beijing Is Going Places — and Building Naval Bases — Here are the top destinations that might be next.
- Foreign Affairs: Xi’s Security Obsession — Why China Is Digging In at Home and Asserting Itself Abroad.
- POLITICO: The Dangerous and Frightening Disappearance of the Nuclear Deterrence Expert — Tensions among nuclear powers are rising, but decades of peace have resulted in a dearth of people trained to deal with the continuing threat.
- The Washington Post: Opinion: It takes two to tango. But does China want to dance? — From what outsiders can tell, China is reverting to a Mao-era style of politics that we have not seen for decades. By Fareed Zakaria.
- AP: Bolivia is the latest South American nation to use China’s yuan for trade in challenge to the dollar — Bolivia is now using the yuan to pay for imports and exports, becoming the latest country in South America to regularly use the Chinese currency.
- Rest of World: The obscure social media app beloved by China’s tech scene — Jike might be the most important social network in Chinese tech.
- The Verge: Driverless car legislation is still stuck in neutral in the US — Bills that would allow thousands more autonomous vehicles on the road have been stalled in Congress for over six years with no sign of progress.
