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
- WuXi Company Shares Tumble on U.S. Bill Aimed at Chinese Biotech — Shares of the WuXi family of companies tumbled on concerns a proposed bill will block the U.S. government from doing business with Chinese biotechnology companies due to alleged military ties.
- Jake Sullivan to Meet China’s Wang Yi for Talks on Red Sea Attacks — U.S. national security adviser is flying to Thailand to discuss the Houthi attacks with China’s top foreign policy official.
- A British Businessman Worked in China for Decades. Then, He Vanished. — The previously unreported case suggests more foreign business people may be held without public knowledge.
- China’s Rapid-Fire Stimulus Reveals Growing Concerns Over Economy — A series of moves in recent days mark a shift from just a week ago, when Chinese leaders were projecting confidence.
- Opinion: Welcome, Warily, the EU Getting Serious on China — Europe takes an interest in the security implications of trade and investment, but it’s only a start. By Joseph C. Sternberg.
The Financial Times
- China says UK businessman imprisoned for ‘providing intelligence’ — News of 2022 conviction will add to fears among foreign executives and professionals in the country.
- Chinese stocks snap rally as investors turn sceptical over state support — CSI 300 index ends three-day winning streak after Morgan Stanley scraps bullish forecast.
- US and China to hold back-channel talks in Thailand — US national security adviser and Chinese foreign minister to meet in Thailand in the coming days.
The New York Times
- As China’s Markets Stumble, Japan Rises Toward Record — A change in perception among investors about China and Japan is one of the biggest themes in the markets right now.
- Blinken Touts U.S. Investments in Angola — Secretary of State Antony J. Blinken finished a four-nation tour of Africa with a visit to Angola, site of major new U.S. investments, which may help counter China’s influence.
Caixin
- Financial Regulator Vows to Boost Lending Support to Developers — Shortlist of eligible property projects to be drawn up and financial institutions steered to help meet developers’ needs.
- Guangdong Promotes Industrial Relocation under Smiling Face Model — ‘The world’s factory’ is looking to relocate manufacturing in less developed areas and concentrate design and sales ‘value-adding’ expertise in the River Delta region.
- China Tourism Sector Posts Patchy Recovery as Rebound Peters Out — A surge of trips from pent-up post-pandemic demand has waned as tourists pare back their budgets and seek out more affordable options.
- China Approves More Video Games in Sign of Further Easing on Sector — Regulator cleared 115 new domestic titles played on smartphones, consoles and personal computers for sale in January, compared with 105 last month.
South China Morning Post
- Chinese Premier Li Qiang steps up prep for maiden work report that could seek to restore private-sector confidence — Premier Li Qiang is preparing to deliver his maiden annual government work report in March, and China’s No 2 official stepped up preparations this week by soliciting opinions during symposia.
- Why is India unnerved about the visit of a Chinese research ship in its backyard? — Amid a spat with New Delhi, the Maldives is set to host China’s Xiang Yang Hong 3 early next month.
- China urged to grow legal talent for global fight against terrorism, corruption and cyberscams — The country needs experienced professionals as it takes on bigger role in international law enforcement, according to top prosecutor.
- China’s C919 maker has sky-high ambitions to grab a piece of the aviation pie from Boeing, Airbus as domestic demand soars — State-owned Commercial Aircraft Corporation of China plans to expand the domestic aviation market by boosting production this year – a move buoyed by the post-Covid recovery in global aviation.
Nikkei Asia
- Asia-Pacific flights return for U.S. carriers, but profit concerns linger —Top U.S. airlines have restored most of their capacity in the Asia Pacific four years after the pandemic began, but empty seats on routes to Asia are hurting margins while a full return of flights between the U.S. and China remains far off.
- China oil major CEO ‘resolutely opposed’ to U.S. sanctions on Russia — A top Chinese oil executive on Thursday expressed rare open criticism of U.S. sanctions against Russia, which affect his company’s stake in a Siberian liquefied natural gas project.
- China’s slump pushes its smaller companies overseas for growth — Suppliers venture out on their own, drawn by opportunity and driven by limits at home.
- Temasek-backed venture debt vehicle launches China fund — InnoVen Capital raises $130m from Chinese local government agencies.
Bloomberg
- China Added More Solar Panels in 2023 Than US Did In Its Entire History — China installed more solar panels in 2023 than any other nation has built in total, adding to a massive renewable energy fleet that’s already leading the world by a wide margin.
- China, Russia Disguise Threats Posed by Satellites, US Space Force Says — China and Russia have launched satellites that are meant to inspect and repair other spacecraft but could be used to attack US assets, according to a new report from the US Space Force.
- China’s Commerce Ministry Vows to Boost Consumption, FDI in 2024 — China’s Ministry of Commerce declared 2024 the “year of promoting consumption” as it stressed the need to revitalize demand and attract more investment in the world’s second-largest economy.
- US Spies Want AI as Tool Against China If Tech Can Be Trusted — US intelligence agencies are grappling with a daunting new challenge: Making artificial intelligence safe for America’s spies.
Reuters
- Exclusive: China presses Iran to rein in Houthi attacks in Red Sea, sources say — The discussions about the attacks and trade between China and Iran took place at several recent meetings in Beijing and Tehran, the Iranian sources said.
- Taiwan reports Chinese ‘combat patrols’ ahead of China-US talks — Taiwan’s defence ministry said it detected 23 Chinese air force planes operating around Taiwan and carrying out “joint combat readiness patrols” with Chinese warships on Friday.
- Israel’s Ashdod port sees strategic risk from China during Gaza war — In a letter seen by Reuters, the chairman of the southern Israeli port warned the head of Israel’s shipping and ports authority about the actions of countries designated by the West as an “axis of evil”, and said China was among them.
Other Publications
- CFR: Totalism and State-Society Relations in China — The distinction between totalitarianism and totalism offers valuable insights for China studies and the making of U.S. China policy.
- Foreign Policy: China’s Problem With the Genocide Case Against Israel — Beijing backs the Palestinians in Gaza but faces its own genocide accusations at home.
- Foreign Affairs: America Can’t Win the Tech Race Alone — Keeping Its Edge Over China Will Require U.S. Investment in Innovation Abroad.
- Foreign Affairs: The Next Global War — How Today’s Regional Conflicts Resemble the Ones That Produced World War II.
- The Washington Post: China is absorbing Hong Kong, as geography follows politics — Beijing has over the past three years moved swiftly to remake the territory’s once-autonomous institutions and subsume Hong Kong’s identity.
- The Economist: Why skipping ropes are so expensive in China — A new reason for parents to be angry with the education system.
- CSIS: China’s Waterlogged Missiles Don’t Matter — The recent news questioning the reliability of China’s missiles should not change anything about current U.S. nuclear policy.
