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
- Mystery Surrounds Discovery of TSMC Tech Inside Huawei AI Chips — The apparent use of TSMC circuitry, believed to have first routed through a Chinese chip firm, shows the difficulties for the U.S. to enforce a tech crackdown.
- China’s Coming Stimulus Is Necessary but Likely Insufficient — Beijing looks set to do just enough to stabilize the situation, but not enough to spur growth.
- U.S. Chip Toolmakers Move to Cut China From Supply Chains — Applied Materials, Lam Research tell vendors to follow new restrictions, spurred by U.S. government pressure.
- Why China’s Solar Boom Is a Bust for Its Leading Players — Cutthroat competition at home pushes one corporate chief to seek growth in U.S., never mind the geopolitics.
- China Caixin Services PMI Adds to Signs of Economic Green Shoots — The Caixin services purchasing managers index rose to 52.0 in October from 50.3 in September.
The Financial Times
- Six cities, one question: is China’s property market turning a corner? — From Shanghai to Guangzhou and Beijing to Foshan, buyers and agents voice concerns ahead of the next phase of stimulus.
- China’s premier defends free trade on eve of US presidential election — Li Qiang bemoans global rise of protectionism at Shanghai import expo amid escalating tariff brawl.
- Opinion: Norway shows just how China has advanced in cars — Brands such as MG, BYD and Xpeng are making big inroads into country’s auto market, competing on quality as well as price. By Richard Milne.
The New York Times
- U.S. Farmers Brace for New Trump Trade Wars Amid Tariff Threats — Despite their concerns, some farm operators still support the former president and prefer his overall economic plan.
- Tiny Homes Face the Ax in Hong Kong, Leaving Many Families Worried — The government says the city’s smallest apartments need more regulation. For some of Hong Kong’s poorest, that could mean higher rents or even eviction.
Caixin
- Interview: How a Massive Injection of Money Could Kick-Start China’s Growth — Just as a company would issue equity to raise funds to invest, the PBOC can issue money to resolve the country’s massive debt overhang and get the economy moving, Patrick Bolton tells Caixin.
- Chinese Wind-Turbine Maker Furthers Global Expansion With India Deals — Sany Renewable Energy wins contracts from two Indian clients to supply turbines capable of generating 1.6 GW in total.
- China New Economy Contribution Hits Seven-Year High, Caixin Index Shows — NEI rose 1.6 points to 32.5 in October as gauge of capital inputs reached a record high.
South China Morning Post
- In China, fear of regime change has shaped US policy. Here’s why — For Beijing, regime security is everything and concerns about ‘hostile Western forces’ will continue, no matter who ends up in the White House.
- China’s No 2 EV charging provider joins Schneider to tackle European market amid tariff war — New venture suggests Chinese players are unperturbed by stiffer tariffs in their quest for global market share.
- China’s Huawei pushes network gear upgrades in friendly nations, touting AI boost — Under US sanctions, the Chinese telecoms equipment giant has sharpened its focus on mobile carriers in other markets.
Nikkei Asia
- Huawei courts global chip talent with new Shanghai R&D hub — New condos and subway station expected to boost the site’s appeal.
- Export deals at China’s Canton Fair climb 10% to $25bn — Twice-yearly expo offer clues on Chinese trade, with U.S. election seen having impact.
- China’s students pay for internships in hypercompetitive job market — Unofficial brokers peddle scarce spots, raising concerns of scams and collusion.
- Yum China wary of weak consumption even as results beat estimates — Stock jumps but ‘top-line pressure’ to continue for mainland operator of KFC, Pizza Hut.
Bloomberg
- How the World Is Prepping for a Trump or Harris Victory — The outcome of the US election will have a major impact globally, from Ukraine and the Mideast to world trade.
- Chinese Group Accused of Hacking Singtel in Telecom Attacks — ‘Volt Typhoon’ is believed to be behind the suspected cyberattack, which is seen as test run for hacks on US telecoms.
- Chinese Red Tape Leaves Billions of Dollars of Deals in Limbo — China deal activity is headed for one of the worst years in a decade.
Reuters
- China’s messy EV dispute with Europe keeps trade tensions in check — Some EU member states are even using the dispute to bolster bilateral ties away from the Brussels-Beijing negotiations and attract fresh investment from China.
- Iran oil prices to China at multi-year high after exports fall, sources say — The discounts are the narrowest since Chinese independent refiners stepped in as buyers in late 2019.
Other Publications
- Foreign Policy: How Do We Know What’s Happening in China? — A notoriously opaque state still produces plenty of data.
- The Information: TikTok Maintains Solid First-Half Revenue Growth Despite U.S. Ban Threat — TikTok accounts for most of ByteDance’s international revenue, which rose more than 60% to $17 billion in the first half of this year.
- Wired: TikTok Employees Shrug Off the US Election — Donald Trump says he’ll spare TikTok. Kamala Harris will likely support the ban. But inside the company, few are talking about the US election.
- The Economist: In some areas of military strength, China has surpassed America — The modernisation of the PLA is proceeding at an extraordinary pace.
- Politico: The Next World War Starts Here — An aggressive China and Russia’s war on Ukraine brought South Korea and Japan closer — with lots of American help. Keeping them together to deter Beijing will be one of the most important foreign policy tasks for Harris or Trump.
