The Wire China

Chinese Companies Are Looking to List Again: Profits Not Required - The Wire China After a long lull, IPOs are on the up in mainland China — at least for firms aligned with the government’s economic priorities.

The Shanghai Composite Index recently reached the 4,000 level for the first time in a decade.

Check out this timely piece from @rachelcheung.bsky.social for more on China's IPO recovery:

China's Growth Model is Dead: Long Live the New Model - The Wire China China thinks its new growth model can help it meet problems like a declining population and high debt. Right now, the plan isn’t working.

Beijing thinks its economic strategy can help it meet problems like a declining population and high debt. Right now, the plan isn’t working, argues Dinny McMahon in this week's op-ed.

Melanie Hart on Countering Chinese Coercion - The Wire China The Biden State Department official discusses how to fight back when Beijing puts on the economic screws, and whether the Trump tariffs will have their desired effect.

In this week's Q&A with @evanpeng.bsky.social, Biden State Department official Melanie Hart discusses how to fight back when Beijing puts on the economic screws, and whether the Trump tariffs will have their desired effect.

China’s Two-Speed Economy - The Wire China China’s latest data shows a stark contrast in performance between sectors favored by Xi Jinping and the rest of the economy.

For China reporters, it is one of the most boring stories to cover in one of the world’s most exciting countries — Beijing’s economic growth figures. But what is interesting is which industries Xi leaned on to reach the target and which ones it was happy to let stagnate.

Canada Set to Side With China On EVs - The Wire China Canada is considering dropping 100 percent tariffs on imports of EVs from China, in a potentially major break with the U.S. approach.

The Ottawa government is considering dropping 100 percent tariffs on imports of Chinese #EVs, in a potentially major break with the U.S. approach. @eliotchen.bsky.social reports.

China’s Delivery Revolution - The Wire China China is racing ahead in yet another industry of the future — automated delivery vehicles and systems. Peiyue Wu reports.

China is racing ahead in yet another industry of the future — automated delivery vehicles and systems. But can it avoid the over-production and cut-throat pricing that previously marred the development of solar panels, EVs and other pioneering sectors? Peiyue Wu reports.

Ma Jun on U.S.-China Climate Collaboration, Green Finance and Jobs - The Wire China The economist Ma Jun discusses how China’s clean energy transition can help boost employment and the chances of working with the U.S. on green issues.

"…China and the U.S. should maintain at least educational and scholarly exchanges on climate-related topics via joint research projects, student exchanges, and academic conferences, to avoid an outright decoupling." — Ma Jun

China’s Two-Speed Economy - The Wire China China’s latest data shows a stark contrast in performance between sectors favored by Xi Jinping and the rest of the economy.

"[China] risks being caught in a loop of producing more and innovating more, but with the gains not shared broadly at home, which would eventually sap the economy of its innovative energy." — Lizzi Lee at @asiapolicy.asiasociety.org

China’s Two-Speed Economy - The Wire China China’s latest data shows a stark contrast in performance between sectors favored by Xi Jinping and the rest of the economy.

China’s latest data shows a stark contrast in performance between sectors favored by Xi Jinping and the rest of the economy.

Companies Need More Help With the Rules of the Trade War - The Wire China Like-minded democratic governments need to set up guardrails to help firms currently hedging their bets during the trade war.

"The only certainty that can be given in a time of a great geopolitical contest between autocratic and democratic states are the kind of guardrails that were erected the last time two global powers fought for control of the world order." — Dennis Kwok and @samagoodman.bsky.social

Wingtech's Wobbles - The Wire China Noah Berman takes a look at Wingtech, the Zhejiang-based chip designer that has become embroiled in a tricontinental corporate takeover.

In this week’s “company in the news” Big Picture, Noah Berman looks at Wingtech, the Zhejiang-based firm at the center of the current Sino-U.S. trade tempest.

Companies Need More Help With the Rules of the Trade War - The Wire China Like-minded democratic governments need to set up guardrails to help firms currently hedging their bets during the trade war.

As U.S.–China tensions deepen, corporate leaders face shifting rules and sanctions. Dennis Kwok and @samagoodman.bsky.social call for clearer legal guardrails — like those in the Cold War — to help firms navigate this new geopolitical minefield.

Ma Jun on U.S.-China Climate Collaboration, Green Finance and Jobs - The Wire China The economist Ma Jun discusses how China’s clean energy transition can help boost employment and the chances of working with the U.S. on green issues.

In this Q&A with Yi Liu, economist Ma Jun discusses China’s green finance, urges global cooperation, and argues that some countries “politicise trade imbalances” to justify tariffs and protectionism.

Chinese Companies Are Looking to List Again: Profits Not Required - The Wire China After a long lull, IPOs are on the up in mainland China — at least for firms aligned with the government’s economic priorities.

As @rachelcheung.bsky.social reports this week, China’s IPO market is roaring back: firms raised 77bn yuan ($10bn) in the first three quarters, up 60% year-on-year. Regulator Wu Qing, dubbed the “broker butcher,” is easing profitability rules to revive listings.

Chinese Companies Are Looking to List Again: Profits Not Required - The Wire China After a long lull, IPOs are on the up in mainland China — at least for firms aligned with the government’s economic priorities.

"They want to push China towards a capital raising model that’s less dependent on bank debt, but at the same time, are very cautious about the impact of stock market volatility on retail investors and the overall macro economy." — Nicholas Borst at Seafarer Capital

“A Really Powerful Tool” - The Wire China The Entity List, one of America’s favorite weapons in its economic arsenal, is at the center of the sudden worsening of Sino-U.S. relations.

“Over the last decade, the U.S. government has gone to the Entity List as the first line of attack, even though it’s had some gaping holes and vulnerabilities,” says Jimmy Goodrich, senior fellow at the UC Institute on Global Conflict and Cooperation. “It’s not a silver bullet.”

Wingtech's Wobbles - The Wire China Noah Berman takes a look at Wingtech, the Zhejiang-based chip designer that has become embroiled in a tricontinental corporate takeover.

Wingtech, Nexperia’s Chinese parent, is under fire as founder Zhang Xuezheng is ousted by a Dutch court. Once an Apple supplier, Wingtech now faces scrutiny over ties between China’s tech ambitions and Europe’s national security fears. Noah Berman reports.

“A Really Powerful Tool” - The Wire China The Entity List, one of America’s favorite weapons in its economic arsenal, is at the center of the sudden worsening of Sino-U.S. relations.

The Trump administration just increased the Entity List by more than 20,000 companies, provoking ire from Beijing and putting it at the center of this month’s sudden and dramatic deterioration in Sino-U.S. relations.

China’s Soybean Sway - The Wire China America depends heavily on China to buy their soybeans, but Beijing is no longer buying. Noah Berman reports.

As predictably as night follows day, Donald Trump’s tariff war on China triggered retaliatory tariffs on one of China’s biggest imports from the U.S. — #soybeans. Noah Berman reports.

After seven years of fighting, Li and his team still believe they can turn Sinovac around from a cautionary China-U.S. tale to one that instead bridges the chasm between the world’s two most powerful nations. buff.ly/BS7dj16

Legacy Chips are a Lasting Problem - The Wire China The U.S. is finding it hard to curb China’s growing dominance in legacy chips that power many of the products in our homes.

American “legacy” or “foundational” chips, which are used in TVs and refrigerators, are the subject of a Chinese anti-dumping probe. As @eliotchen.bsky.social writes, the Chinese government wants appliance makers to use Chinese legacy chips instead.

The Fight for Sinovac - The Wire China At the height of the pandemic, vaccine maker Sinovac was a hero and one of the country’s most promising companies. But its success masked a protracted dispute between investors and management.

Sinovac's success masked a protracted dispute between rival investors and management for control of the cash-rich company. Grady McGregor and @eliotchen.bsky.social investigate what went wrong.

Lael Brainard on Keeping the Dollar Dominant - The Wire China The economic policy maker says the Trump administration's actions could threaten the greenback's role, and discusses the big bet the U.S. made in welcoming China into the WTO.

"…when you erode the independence of the Fed, inflation will likely run higher for a period of time because people start to expect higher inflation. It becomes a sort of self-fulfilling prophecy. A new administration could restore confidence in the Fed, but it might take some time."

The NBA’s Tricky Return to China - The Wire China The world’s top basketball league, the NBA, sees China as a growth market, despite concerns it'll have to compromise its values to return.

"China is a market that you can’t ignore for a whole bunch of Western brands, the NBA as much as anyone... they’ve looked at the potential growth, and they have weighed up the risk and decided that it is worth it." — Mark Dreyer, journalist and author of Sporting Superpower

Lael Brainard on Keeping the Dollar Dominant - The Wire China The economic policy maker says the Trump administration's actions could threaten the greenback's role, and discusses the big bet the U.S. made in welcoming China into the WTO.

In this week's Q&A with Bob Davis, economic policy maker Lael Brainard says the Trump administration's actions could threaten the greenback's role, and discusses the big bet the U.S. made in welcoming China into the WTO.

China’s Stablecoin Push - The Wire China People's Bank of China Governor Pan Gongsheng has recently thrown his support behind stablecoins for cross-border payments as the country warms to their usage.

China’s incentives in the Hong Kong stablecoin market are commercial, says Diana Choyleva, chief economist at Enodo Economics.

“It’s kind of like China free riding on the dollar... if there is market demand for such a thing, they’re going to make some money out of it.”

The Lessons From the UK’s China Spy Case Failure - The Wire China The British government needs to provide greater clarity over the rules around what information can be shared with China.

The British government needs to provide greater clarity over the rules around what information can be shared with China, argues Kerry Brown in this week's op-ed.

China’s Stablecoin Push - The Wire China People's Bank of China Governor Pan Gongsheng has recently thrown his support behind stablecoins for cross-border payments as the country warms to their usage.

Could a move by Hong Kong to issue licenses for digital currencies pegged to the territory’s currency signal a future shift in Beijing’s skepticism towards cryptocurrencies? Noah Berman reports.

The Robot Reckoning - The Wire China As Rachel Cheung reports in this week's big picture, China is betting on a future with humanoid robots. When will it arrive?

“Selling hundreds of units or lowering the costs all sounds really good,” says Deep Robotics' Eric Wang, a Hangzhou-based firm that produces humanoids, robodogs & components.

“But what can a humanoid robot actually do? That is something we all have to think about & isn’t that easy.”

The Robot Reckoning - The Wire China As Rachel Cheung reports in this week's big picture, China is betting on a future with humanoid robots. When will it arrive?

Humanoid robots are the hot new thing in China’s tech sector. In the first nine months of this year, Chinese robot startups raised $2.4 billion — about as much as they did over the previous 3 years. But is the exuberance rational or irrational? @rachelcheung.bsky.social reports.