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 Evergrande NEV Shares Tumble After Stake-Sale Talks Fall Through — Evergrande Auto said liquidators will continue to seek possible buyers and opportunities to divest the shares in the company.
- U.S. Panel to Probe Cyber Failures in Massive Chinese Hack of Telecoms — Phones of Donald Trump, JD Vance and others were targeted in aggressive spying operation.
- How a Trump Victory Would Threaten Tesla’s Success in China — Elon Musk’s embrace of the former president complicates things in a vital market for the U.S. EV maker.
- China’s Massive Fishing Fleet Overwhelms Locals in ‘David and Goliath’ Battle — Off the Peruvian coast, one of the world’s richest fishing grounds is under pressure.
- Alibaba Agrees to $433.5 Million Settlement in Shareholder Lawsuit — The e-commerce platform denied allegations that it made misstatements about its antitrust and exclusivity practices.
- Chinese Hackers Targeted Phones of Trump, Vance, and Harris Campaign — The major spy operation is said to have attacked dozens of others, including a Wall Street Journal reporter.
The Financial Times
- Shanghai cracks down on Halloween costumes — Authorities in the Chinese city fear a repeat of last year’s crowds, when some wore politically provocative dress.
- China’s industrial profits plunge as economic momentum falters — Steep monthly decline in September comes as policymakers battle to restore confidence.
- Sinologist Li Cheng: ‘America is not in the mood to study China’ — The political expert on the breakdown of US-Sino relations, what Xi Jinping’s fourth term might hold — and why neither Harris nor Trump makes him hopeful of change.
The New York Times
- How Beijing Tamed a Lawless Industry and Gained Global Influence — State-controlled companies now run an industry once known for its acid pits, radioactive waste and smugglers.
- Bullied by China at Sea, With the Broken Bones to Prove It — A violent attack on a Vietnamese fishing boat tests Hanoi’s muted but resolute approach to China’s aggression in the South China Sea.
- What to Know About the Chinese Hackers Who Targeted the 2024 Campaigns — A group that experts call Salt Typhoon is believed to be behind a sophisticated breach of major telecommunication companies that has taken aim at American leaders.
- China Tightens Its Hold on Minerals Needed to Make Computer Chips — Already the dominant producer of rare minerals, Beijing is using export restrictions and its power over state-owned companies to further control access.
- The Man Who Shaped China’s Strongman Rule Has a New Job: Winning Taiwan — Xi Jinping’s top adviser, Wang Huning, is credited with shaping the authoritarianism that steered China’s rise. But can he influence Taiwan?
- Chinese Hackers Are Said to Have Targeted Phones Used by Trump and Vance — The targeting of the Republican presidential ticket’s phones is part of what appears to be a wide-ranging effort to gather information about American leaders.
- BRICS Summit Offers a Glimpse Inside Putin’s Alternate Reality — At a meeting of emerging economies, Vladimir Putin positioned himself as a respected and powerful leader, ignoring the condemnation he receives from the West.
Caixin
- China’s Investment Lead on Solar, Wind ‘May Fade Entirely’ by 2027 — Other economies have increased their spending on domestic industries in response to China’s rapid capacity growth and competitive pressure, according to Rystad Energy.
- How AI Is Reshaping the Programming Landscape — The AI revolution is boosting productivity, but could it spell the end of the programmer?
- Women Across China Say They Are Getting Calls About Their Pregnancy Plans — As the country’s population shrinks, local governments are doing more to monitor fertility and encourage childbearing.
- Testing Mind-Controlled Computers in China’s Skies — Bai Hao, who is paralyzed, was the first patient in the country to test a brain-computer interface device on an airplane.
- The Rise of Generic Drugs in China — Recently, there has been a lot of discussion in China about the differences between imported brand-name medications and the generic drugs produced in the domestic market.
South China Morning Post
- Ant CEO Eric Jing touts tokenisation benefits for cross-border transactions at FinTech Week — Tokenisation is a major focus of FinTech Week this year, in addition to AI, as Web3 in Hong Kong looks beyond ‘speculative’ cryptocurrencies.
- China’s regulator hits CICC with over US$1 million in penalties for chip company’s IPO — The company, considered China’s Goldman Sachs, failed to exercise due diligence in S2C’s aborted share listing, CSRC says.
- Chinese cities ease residency requirements as ‘war for people’ heats up — City governments have adopted a ‘hukou for home’ strategy as the competition for talent intensifies.
- China’s Gen Z seeks solace through ‘emotional consumption’ — Young consumers’ willingness to spend on blind box toys contrasts with wider retail gloom.
- China leveraging Laos to link up its Southeast Asian economic interests — Premier Li Qiang visited Laos earlier this month, with the relatively undeveloped and small Southeast Asia nation seen as key to China’s plans in the region.
Nikkei Asia
- U.S.-China race for lithium leads to controversial new mine — Nevada site could unlock vital EV battery supply, but faces environmental pushback.
- NBA walks a fine line on China as commissioner eyes return — Sports leagues juggle free speech with need to stay in Beijing’s good graces.
- China-Laos railway sees ridership surge during October holiday — Chinese passengers laud ease, affordability of trip to Southeast Asian neighbor.
Bloomberg
- China’s Central Bank Has New Policy Tool to Manage Liquidity — China’s central bank is expanding its monetary policy toolkit to get a better handle on liquidity in the financial system as it seeks to add more levers for fine-tuning the economy.
- Meg Whitman’s Mission in Africa: American Tech Over Chinese — As ambassador to Kenya, the former eBay and HP CEO has made a priority of counterbalancing Chinese influence on the continent.
- China Warns US It Will Respond to Latest Taiwan Weapons Sales — China said it filed a diplomatic complaint with the US and reserved the right to retaliate after the latest American weapons sales to Taiwan, escalating tensions in their dispute over the archipelago.
- Opinion: China’s Biggest Clean Power Machine Is Misfiring — Climate change is coming for the water that fuels hydroelectric plants, putting decarbonizing plans at risk. By David Fickling.
- Opinion: Putin, Kim and Xi Aren’t Just Bluffing With Their Nukes — The US would win a conventional war against Russia, North Korea or even China — which is precisely why they could go nuclear. By Andreas Kluth.
Reuters
- Some companies change tack in China with no recovery in sight — The Chinese government has promised more help, but the scope and timing of further stimulus is uncertain, and investors are so far not convinced that its efforts will spur the $18.6 trillion economy.
- China’s private tutoring firms emerge from the shadows after crackdown — There is now tacit consent from policymakers to allow the tutoring industry to grow, in a pivot by Beijing to support job creation, eight industry figures and two analysts familiar with the developments told Reuters.
Other Publications
- CFR: China’s Hospital Admission Paradox: Institutional Design and Perverse Incentives — Without comprehensive reforms, the sustainability of China’s healthcare system remains at risk, compromising its ability to meet the genuine medical needs of its population in the long term.
- The Washington Post: Chinese hackers said to have collected audio of American calls — The hackers are said to be part of a Chinese government-affiliated group that American researchers have dubbed Salt Typhoon.
- The Washington Post: As ties with the U.S. worsen, China asks: Who’s the new Kissinger? — Influential voices in China are openly discussing who could act as a trusted bridge between Beijing and Washington, regardless of who wins the presidency.
- AP: State alien land laws drive some China-born US citizens to rethink their politics — At least two dozen states have passed or proposed “alien land laws” targeting Chinese nationals and companies from purchasing property or land because of China’s status as a foreign adversary.
- The Atlantic: Taiwan Has a Trump Problem — The former president’s recent rhetoric shows how his reelection could undo the central promise sustaining today’s international order.
- The Information: TSMC Cut Off Chinese Crypto Mogul’s Firm as US Probes Huawei Link — Taiwan Semiconductor Manufacturing Co. earlier this month stopped making chips for a China-based chip design firm founded by a Chinese crypto mogul, said two people familiar with the situation.
- The Guardian: China building ‘counter-stealth’ radar on disputed South China Sea reef, satellite pictures suggest — Upgraded Triton Island outpost in the Paracel archipelago expands China’s surveillance capabilities in the region.
- Foreign Affairs: The Emerging Age of AI Diplomacy — To Compete With China, the United States Must Walk a Tightrope in the Gulf.
- POLITICO: DHS to probe Chinese telco hacks that targeted Trump, Vance — POLITICO reported Friday that federal investigators for now believe the Chinese targeted communications data from phones of roughly 40 people.
