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
- He Rose to Riches in Hong Kong. Now He’s a Symbol of China’s Crackdown. — Media baron Jimmy Lai, who protested for democracy, faces possible life sentence.
- American Companies Are Stocking Up to Get Ahead of Trump’s China Tariffs — Businesses plan to stockpile, raise prices and accelerate shift to manufacturing elsewhere.
- In Brazil, Xi Jinping Cultivates a Friend as He Braces for Trump — Working with ‘like-minded’ Lula, China aims to check America’s global dominance and keep trade going.
- NIO’s Net Loss Widens on Lower Revenue Amid EV Pricing Pressure — The carmaker’s revenue fell 2.1%.
- Kuaishou Posts Profit, Revenue Growth, Meeting Estimates — The short-video app rivals Douyin, TikTok’s sister app in China.
The Financial Times
- Chinese vessel spotted where Baltic Sea cables were severed — Swedish investigators are looking into Yi Peng 3 bulk carrier that was travelling from Russia to Egypt.
- Jimmy Lai testifies for first time in Hong Kong national security trial — Billionaire former media mogul and fierce critic of Beijing faces up to life in prison.
- Starmer refuses to condemn Hong Kong crackdown — UK premier said he had ‘frank’ discussions with Xi Jinping at G20 but declined to air criticism publicly.
- Opinion: Britain needs a coherent China strategy — The Labour government must determine where UK ‘red lines’ lie. By The Editorial Board.
The New York Times
- As Trump Returns to Power, World Leaders Seek Stability With China — The return to power of President-elect Donald J. Trump, who has vowed to confront China on tariffs, has created deep uncertainty about the U.S. role in avoiding global conflicts.
- Jimmy Lai, Hong Kong Media Mogul, Takes Stand in National Security Trial — The media tycoon, who is accused of masterminding pro-democracy protests, testified at his trial for the first time. He could be sent to prison for life.
- Hennessy Workers Strike Over Plans to Bottle Cognac in China — The walkout in France is the latest development in a simmering trade war between Europe and China.
Caixin
- China Is Making Sure Its Low-Altitude Economy is Ready for Takeoff — Pilot programs to be launched in six Chinese cities for vertical take-off aircraft.
- How China’s Companies Came to Dominate DRC’s Copper and Cobalt Mining Belt — China’s mining companies have overcome political instability, corruption and high costs to dominate the DRC mining belt.
- Pandemic-Era Helping Hand Comes Back to Haunt China’s Banks — Loans designed as a lifeline for small businesses have been souring at an increasing rate as borrowers used the funds to speculate on real estate or pay off their mortgages early.
South China Morning Post
- How bad is Trump commerce pick Howard Lutnick – and his tariff talk – for China? — Lutnick, a Wall Street billionaire, will take the lead on the new administration’s trade agenda.
- China reaffirms support for Saudi-Iran ties ‘across various fields’ in Riyadh talks — Senior diplomats jointly call for ‘immediate end’ to Israel’s military operations in Gaza and Lebanon and condemn its strikes on Iran.
- US deports a third group of Chinese nationals on repatriation flight — The operation reflects ongoing cooperation with Chinese authorities, US Department of Homeland Security says.
Nikkei Asia
- Solar powerhouse: China holds the key to Asia’s green energy goals — With 90% market share of key supply chains, the country’s dominance is hard to shake.
- China-driven stocks suffer downturn, from VW to Tokyo Electron — Economic slowdown and Trump tariff threat squeeze market confidence.
- Opinion: China’s bet on Latin America is paying off — Xi visit, Peru port opening are part of Beijing’s plan to expand influence. By Carlos Eduardo Pina.
Bloomberg
- The Clandestine Oil Shipping Hub Funneling Iranian Crude to China — A burgeoning group of dark fleet vessels operating with impunity on the edge of a major maritime thoroughfare is moving hundreds of millions of barrels of sanctioned oil and risking an environmental catastrophe.
- Xi’s Push for Stable World of Low Tariffs Undone by Trump, Putin — China president urges leaders to back free trade at the G20 and APEC summits, but he faces questions over China’s backing of Russia and North Korea.
- Pony AI Nears US IPO as Self-Driving Rivalry With China Heats Up — China and the US are neck and neck in funding autonomous driving companies.
- Luckin Coffee Deal for Brazil Beans Ensures Steady China Demand — The chain agreed to buy 4 million bags through 2029, as China’s demand for Brazilian coffee increases.
Reuters
- Walmart, other US companies raise concerns over proposed Trump tariffs — Many corporate retailers are raising concerns about the effect such levies would have on inflation.
- China’s cashed-up crowd is back in the stock market — The cash streaming in from household savings accounts is highlighting the markets’ hottest pockets.
- China’s Xi visits Brasilia to cap tour flexing diplomatic clout — With Biden diminished and Trump averse to multilateralism, diplomats and foreign policy experts said Xi’s charm offensive was filling a vacuum in an unsettled global order.
Other Publications
- The Economist: How Chinese is Shein? — For the fast-fashion giant, nationality has become a vexed question.
- The Economist: Snuffing out the flame of freedom in Hong Kong — Dozens of democracy activists are thrown into jail for up to a decade.
- Washington Post: Congressional committee advises revoking China’s trade status — Bipartisan group recommends end to Beijing’s decades-long permanent normal trade status and calls for “Manhattan Project-type” American AI fund.
- The Information: China’s Top VC Firm Qiming Plans Leadership Transition — Two managing partners will step back, just as the firm prepares to raise a new fund with the target size of up to $1 billion.
- The Guardian: Trump tariffs are coming, but some Chinese companies may already know how to avoid them — Some experts liken tariffs to a game of whack-a-mole, with trade flows simply rerouted if the potential rewards are big enough.
- CSIS: Wins and Losses: Chinese Industrial Policy’s Uneven Success — A new report examines the historical context on the development and progress of industrial policy in China, and the findings of recent pathbreaking academic research.
