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
- TikTok Asks Supreme Court to Intervene on U.S. Ban — Chinese-backed app seeks to delay ban’s Jan. 19 effective date.
- Walmart Collaborates With Meituan to Boost China E-Commerce Sales — Meituan has a strong consumer base in the country and provides various services, including food delivery.
- Alibaba Expects to Book $1.28 Billion Loss on Sale of Department Store — The Chinese tech giant has been shifting away from offline retailing.
The Financial Times
- Court names alleged Chinese spy linked to Prince Andrew — Tengbo Yang has been banned from UK on national security grounds.
- China tells UK to ‘stop creating trouble’ over alleged spy — Embassy spokesperson accuses MPs of ‘arrogance and shamelessness.’
- EU imposes sanctions on oil trader Niels Troost over alleged Russian involvement — Dutch national is first EU citizen targeted in relation to western price cap measures introduced after full-scale Ukraine invasion.
- China expands private pension scheme and adds index funds — Authorities hope the initiative, which makes use of index funds including ETFs, will boost investment in private pensions.
- Opinion: China would balk at a sweeping Mar-a-Lago accord — Given the need for a weak renminbi to support export growth, a reprise of the 1985 Plaza Accord with Japan is unlikely. By Alicia García-Herrero.
- Opinion: Europe’s demand for Chinese tech transfers beats tariffs — Linking subsidies to intellectual property is the sort of strategic inclusion that fosters mutual benefits. By Lizzi Lee.
The New York Times
- Biden Prepares to Target Chinese Legacy Chips With Trade Investigation — The investigation could result in tariffs on older types of chips from China, though the decision would ultimately fall to Trump.
- Biden Administration Takes First Step to Retaliate Against China Over Hack — The Commerce Department is banning the few remaining operations of China Telecom in the United States, a move that appears unlikely to deter Beijing from conducting sophisticated cyberoperations.
- TikTok Asks Supreme Court to Block Law Banning Its U.S. Operations — The company and its Chinese parent invoked the First Amendment in urging the justices to step in before a Jan. 19 deadline to sell or be shut down.
Caixin
- Baidu, Geely Offer Limited Help to Stalled EV Brand — The duo will help make key payments including employees’ social security contributions and compensate laid-off workers.
- Temu Suffers First Big Setback as Vietnam Suspends Its Operations — Experts believe Vietnam’s crackdown is partly to protect local businesses from Temu’s aggressive pricing policy.
- China Fleshes Out Telecom Fraud Rules to Ensure Punishments Fit the Crime — New measures aim to standardize oversight to make enforcement fairer while plugging legal loopholes.
- Even More European Airlines Drop China Routes — While Russian airspace ban continues to sap European carriers’ profits, U.S. counterparts are eager to ramp up West Coast routes to the Chinese mainland.
South China Morning Post
- World-leading Chinese cancer scientist Sun Shao-Cong has left U.S. for Beijing — Sun has begun work to establish a new immunology lab in Beijing following investigations of him by the U.S. government, a source says.
- European Commission investigates TikTok for suspected election interference in Romania — Allegations include ‘recommender systems’ being open to manipulation and influencers not making clear they were paid to promote candidates.
- Opinion: How China can achieve its next wave of economic growth — Beijing needs to eliminate the legacies of the restrictive planned economy, allowing a more market-driven allocation of land, money and labour. By Nancy Qian.
Nikkei Asia
- Malaysia’s ethnic Chinese walk delicate business tightrope — Chamber of commerce chief stresses need for trust to build domestic and overseas ties.
- China companies count data holdings as assets under new accounting rules — China Unicom and others log $146m in assets as government eyes international precedent.
- China urges ‘right choice’ after Trump says he and Xi can fix world — Foreign Minister Wang Yi says Beijing will seek path to ‘get along’ with U.S.
Bloomberg
- China’s Investment Bankers Struggle With Low Pay, Few Deals and Fear of Arrests — An ideological shift in the country, and the arrests of bankers at multiple securities firms and lenders have shaken the industry and derailed careers.
- China’s Factories Seek to Trump-Proof Business by Going Global — Bloomberg News reporters spoke with factory managers and executives across China to find out how they’re preparing for a second trade war with a Trump-led U.S.
- Opinion: The Trump-Xi Bromance Has a Chance in 2025 — The US-China relationship will be better served by collaboration, not acrimony. The moment for better ties could come next year. By Karishma Vaswani.
Reuters
- EU adopts new Russia sanctions targeting China, shadow fleet — The Chinese additions will be the first fully-fledged sanctions on the country which include a travel ban and asset freeze.
- Exclusive: Shein weighs sale of less than 10% of company in London IPO, sources say — If granted, it would likely be the first time that a company in London has been allowed to list below the recent 10 percent rule.
- Exclusive: China plans record budget deficit of 4% of GDP in 2025, say sources — The stronger fiscal impulse planned for next year forms part of China’s preparations to counter the impact of an expected increase in U.S. tariffs on Chinese imports.
- China, Trump talk up prospects for U.S.-China collaboration — The two superpowers have been setting out their positions ahead of Trump’s return to the White House.
Other Publications
- The Verge: Arm CEO Rene Haas on the AI chip race, Intel, and what Trump means for tech — The head of the ubiquitous chip design firm on the ‘breathtaking’ pace of AI and how Arm is approaching the China challenge.
- Rest of World: China’s AI elite rethink their Silicon Valley dream jobs — The West may lose out in the talent race amid U.S. national security and immigration hurdles.
- The Information: China Poised to Investigate More U.S. Tech Deals After Nvidia Probe — Whether more investigations are officially announced depends on how tensions evolve with the incoming Trump administration.
- Foreign Affairs: China’s Slowdown Has Changed the Trade War — America now has the upper hand — but Trump’s maximalist tariffs would still carry risks.
- New Statesman: Will Labour’s China reset last? — The government’s economic and security interests are clashing.
- Foreign Policy: Is the U.S. Answer to China’s Belt and Road Working? — The International Development Finance Corporation has put the United States more on the map, but China remains king of global infrastructure.
- Brookings: The China-Russia relationship and threats to vital U.S. interests — Beijing and Moscow’s strategic alignment will pose a significant test for the incoming Trump administration.
- CSIS: Why China’s UAV Supply Chain Restrictions Weaken Ukraine’s Negotiating Power — China is the dominant force in the low-cost drone market, with massive leverage over the world’s drone component supply chain.
