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
- U.S. Wiretap Systems Targeted in China-Linked Hack — AT&T and Verizon are among the broadband providers that were breached.
- Chinese Semiconductor Stocks Extend Rally on China’s Stimulus Measures — The strength in chip stocks is leading a broader market rally in Hong Kong.
- China’s Drive for Global EV Dominance and the Roadblocks It’s Facing, in Charts — Europe’s tariffs are the latest move by nations pushing back against imports from world’s biggest producer.
- Despite Geopolitical Tensions, China Is Big Business for Western Consulting Firms — Deloitte, Ernst & Young, others have signed thousands of contracts across China as Washington and Beijing seek to untangle economies.
The Financial Times
- Beijing tightens grip on renminbi after stimulus rally — Stronger currency is challenging China’s exchange rate management with US election looming.
- China demands schoolteachers hand in their passports — Authorities make travelling abroad difficult for growing number of public sector employees.
- Indian companies move in as US cuts China out of its solar industry — Washington weighs more tariffs on imports after flood of Chinese panels drove global prices to record lows.
- Shein’s elusive founder holds pre-IPO investor meetings in London — Sky Xu’s pitch comes as fast-fashion group still awaits regulatory approvals.
- Opinion: China’s stock rally for the ages shows power of crowds — Market shunned by foreign investors suddenly skyrockets. By Katie Martin
The New York Times
- How E-Commerce Is Making China’s Deflation Worse — The push by Pinduoduo to lower prices has helped it become one of China’s fastest-growing e-commerce apps, and epitomizes a broader force plaguing the economy.
- How an Israeli Strike on Iran’s Oil Sector Would Impact China — China has strategic reserves and alternatives like electric cars, should oil imports ever be interrupted.
- Europe Raises Tariffs on China’s E.V.s, Confronting a Key Trade Partner — European Union officials say the duties are meant to protect the region’s automakers from what they say are unfair trade practices in China.
Caixin
- China’s New Economy Industries Jump on Gains Across Key Inputs, Caixin Index Shows — The contribution of high value-added industries, such as biomedicine, to China’s total economic inputs increased in September after reaching a five-month low the previous month, driven by greater capital and technology inputs, a Caixin index showed Wednesday.
- China’s Stimulus Has Been Great for Stocks, but the Benefits for the Real Economy Are Less Certain — The Chinese mainland’s benchmark stock index notched its largest weekly gain since December 2008 in the week through Sept. 27, rising neatly 12.8% over the five days.
- Police Arrest Chinese Man Suspected of Stabbing Three 5-Year-Olds in Switzerland — Swiss authorities have arrested a 23-year-old Chinese man suspected of stabbing three children near a day care center in Zurich this week.
South China Morning Post
- China’s travel industry faces reality check of ‘worst ever’ season — Stark contract between an optimistic picture painted by China’s travel data and consumers who are reluctant to spend amid broader economic anxieties.
- Why civil engineering students are disappearing from China’s top universities — After a prolonged building boom, the number of people pursuing the degrees in China is dwindling.
- China’s ‘port visas’ prove popular as inbound tourists employ entry alternative — ‘Port visas’, which can be applied for upon entry into China, are being embraced as more inbound tourists seek out simpler travel methods.
Nikkei Asia
- China’s National Day break offers little relief for Hong Kong retailers — Sales outlook weak as mainlanders seek experiences over shopping sprees.
- China ETFs surge in volatile Tokyo trading fueled by Beijing’s stimulus — Traders may be positioning themselves for post-holiday Chinese stock market opening.
- Japanese investment in China tumbles 16% as automaker woes spread — Parts, materials makers begin to retreat, with more spending going to Europe.
Bloomberg
- Dutch Carrier KLM Seeks EU Measures to Curb China Competition — Dutch flag carrier KLM NV has called on the European Union to come up with measures to counter “unfair” competition from Chinese airlines that are cleared to fly over Russia’s airspace.
- VW CEO Sees Threat of Retaliatory Tariffs From China, Bild Says — Volkswagen AG Chief Executive Officer Oliver Blume hopes for an alternative solution to tariffs on Chinese electric vehicles as he braces for potential retaliation from Beijing, Bild am Sonntag reported.
- Chinese Chip Stocks Gain $13 Billion on Talk of Beijing Stimulus — Top Chinese chipmaker Semiconductor Manufacturing International Corp. led a $13 billion sector rally, after investors bet that Beijing will declare more policy or financial support for an industry central to its geopolitical ambitions.
Reuters
- ‘Impossible’ for People’s Republic of China to be our motherland, Taiwan president says — It is “impossible” for the People’s Republic of China to become Taiwan’s motherland because Taiwan has older political roots, the island’s President Lai Ching-te said on Saturday.
- Explainer: What happens next as China-made EVs investigated by EU? — The European Commission has said it is willing to continue negotiating an alternative to tariffs with China even after tariffs are imposed.
- China likely to launch military drills around Taiwan after president’s national speech, sources say — China is likely to launch military drills this week near Taiwan, using Taiwan President Lai Ching-te’s upcoming national day speech as a pretext to pressure the island to accept its sovereignty claims, Taiwanese officials say.
Other Publications
- Washington Post: China hacked major U.S. telecom firms in apparent counterspy operation — AT&T, Verizon and Lumen are among the companies breached by Chinese hackers in a sophisticated intrusion by the group dubbed Salt Typhoon, officials say.
- Associated Press: North Korea and China mark their 75th anniversary of ties as outsiders question their relationship — The leaders of North Korea and China marked the 75th anniversary of their diplomatic relations on Sunday by exchanging messages that expressed hopes for stronger ties, as outsiders raised questions about their relationship.
- The Guardian: UK steel industry calls for protectionist measures over glut driven by China — Lobby group UK Steel said country faces ‘cliff edge’ in 2026 when current protections run out.
- POLITICO: What Really Happened On Tim Walz’s Trips to China — Former students reflect on their time in China with the would-be vice president.
- CNBC: China stocks poised to reopen Tuesday with markets fixated on fiscal stimulus — Chinese investors are looking for more policy direction from China’s top economic planning body on Tuesday, when mainland markets return from a week-long holiday.
