China Bureau Chief @WSJ. Formerly of Seoul, New York and Hong Kong bureaus. jonathan.cheng@wsj.com
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Apr 12 • 16 tweets • 6 min read
China’s push to replace foreign technology is now focused on cutting American chip makers out of the country’s telecoms systems.
@lizalinwsj @raffaelehuang @rachelliang5602
wsj.com/tech/china-tel… wsj.com/tech/china-tel…
@lizalinwsj @raffaelehuang @rachelliang5602 Officials this year directed China's largest telecom carriers to phase out foreign processors that are core to their networks by 2027, a move that would hit American chip giants Intel and Advanced Micro Devices, people familiar with the matter said. wsj.com/tech/china-tel…
Mar 12 • 10 tweets • 4 min read
BYD is running into challenges in its overseas expansion, finding that its rapid growth at home doesn’t necessarily translate into quick success in big foreign markets such as Europe.
@selina_cheng @riverakiradavis @raffaelehuang
wsj.com/business/autos… wsj.com/business/autos…
@selina_cheng @riverakiradavis @raffaelehuang Executives at BYD, which overtook Tesla late last year as the top global seller of EVs, said the issues included weak market demand, too-high pricing, quality control and internal tension over how quickly BYD should seek to grab market share. wsj.com/business/autos…
Mar 4 • 14 tweets • 5 min read
U.S. officials across the political spectrum have described Chinese corporate theft as a defining threat of our times. A Justice Department loss last week underscores the challenges in addressing it.
@aviswanatha @heathersomervil
wsj.com/tech/micron-ch… wsj.com/tech/micron-ch…
When engineers and managers at the Taiwan factory of U.S. chipmaker Micron Technology left with hundreds of internal files for a rival teaming up with a Chinese government-owned company, it seemed an open-and-shut case of state-sponsored corporate theft. wsj.com/tech/micron-ch…
Jan 15 • 12 tweets • 5 min read
Two days after Lai Ching-te wins the presidency in Taiwan, Beijing makes its move, poaching Nauru, a Pacific island nation of about 10,000 people—and, until today, one of Taiwan's 13 formal diplomatic allies.
@joyuwang @ByChunHan
wsj.com/world/asia/tai… wsj.com/world/asia/tai…
@joyuwang @ByChunHan Nauru’s government said it would stop recognizing Taipei and instead seek formal relations with Beijing—a switch that marks “a significant first step in moving forward with Nauru’s development,” according to the island nation’s Facebook page. wsj.com/world/asia/tai…
Dec 24, 2023 • 11 tweets • 5 min read
"China’s Jobless Don’t Always Show Up in the Data. But They Show Up in the Library. Unemployed and afraid to tell their families, many need a place to figure out their futures; for some, it’s the stacks"
@xinwenfan
The Economist: "Japanification is too mild a diagnosis of China’s ills. A chronic shortfall in growth would be worse in China because its people are poorer. Japan’s living standards were about 60% of America’s by 1990; China’s today are less than 20%." economist.com/leaders/2023/0…
"And, unlike Japan, China is also suffering from something more profound than weak demand and heavy debt. Many of its challenges stem from broader failures of its economic policymaking—which are getting worse as President Xi Jinping centralises power." economist.com/leaders/2023/0…
Aug 20, 2023 • 35 tweets • 13 min read
China’s 40-Year Boom Is Over. What Comes Next? The economic model that took the country from poverty to great-power status seems broken, and everywhere are signs of distress. @Lingling_Wei and @yifanxie take a big step back. wsj.com/world/china/ch…
@Lingling_Wei @yifanxie For decades, China invested in factories, skyscrapers and roads, sparking an extraordinary period of growth that lifted China out of poverty and turned it into a global giant whose export prowess washed across the globe. Now the model is broken. wsj.com/world/china/ch…
Jul 1, 2023 • 6 tweets • 3 min read
The ascendancy of the Russian mercenary group Wagner is putting a spotlight on the role played by private security companies like the Chinese contractors fanned out across Africa and Asia.
@jamestareddy @austinramzy wsj.com/articles/how-c…
@jamestareddy @austinramzy Private, military-style security companies are an increasingly visible element of China’s expanding global footprint—hunting pirates from the decks of cargo ships in the Gulf of Aden, guarding a railway in Kenya and protecting a fuel depot in Sri Lanka. wsj.com/articles/how-c…
Jun 29, 2023 • 7 tweets • 3 min read
The Chinese spy balloon that floated over the U.S. this year was loaded with U.S.-made equipment that helped it collect photos, videos and other information, U.S. officials said, citing preliminary findings from a closely held investigation.
@nancyayoussef wsj.com/articles/chine…
@nancyayoussef U.S. defense and intelligence agencies and the F.B.I. found the balloon debris crammed with American gear and specialized Chinese sensors, the officials said, supporting a conclusion that the craft was for intended for spying, not weather monitoring. wsj.com/articles/chine…
Jun 28, 2023 • 6 tweets • 3 min read
The Biden administration is considering new restrictions on exports of artificial intelligence chips to China, as concerns rise over the technology in the hands of U.S. rivals, according to people familiar with the situation.
@asafitch @TokyoWoods wsj.com/articles/u-s-c…
@asafitch @TokyoWoods The U.S. Commerce Department is planning to stop shipments of chips made by Nvidia and others to customers in China without first obtaining a license, the people said, codifying and expanding export controls announced last year, some of the people said. wsj.com/articles/u-s-c…
Jun 27, 2023 • 6 tweets • 3 min read
Sequoia Capital became the most consistent moneymaking venture-capital firm in history, placing huge winning bets in the U.S. and in China. In the end, the Silicon Valley firm found it had to choose just one.
@Kate_OKeeffe @berber_jin1 @aviswanatha wsj.com/articles/sequo…
@Kate_OKeeffe @berber_jin1 @aviswanatha Scrutiny of Sequoia’s China ventures had been rising in Washington for months. But after its China arm tapped U.S. investors to raise a record $8.5 billion to pour into China, senior Biden official Kurt Campbell confronted Sequoia’s top man in Washington. wsj.com/articles/sequo…
Jun 20, 2023 • 11 tweets • 13 min read
China and Cuba are negotiating a new joint military training facility on the island that could lead to the stationing of Chinese troops 100 miles off Florida’s coast, according to current and former U.S. officials. @wstrobel@glubold@vmsalama@mgordonwsj wsj.com/articles/beiji…@wstrobel@glubold@vmsalama@mgordonwsj Talks for the facility on Cuba’s northern coast are at an advanced stage but not concluded, U.S. intelligence reports suggest. The U.S. has contacted Cuba to forestall the deal, seeking to tap in to what it thinks might be Cuban concerns about sovereignty. wsj.com/articles/beiji…
Jun 19, 2023 • 7 tweets • 7 min read
Secretary of State Antony Blinken met with Chinese leader Xi Jinping at the end of a long-delayed visit to Beijing, arresting a free fall in relations between the world’s two largest economies, at least for the moment. @willmauldin@KeithZhai@austinramzy wsj.com/articles/xi-ji…@willmauldin@KeithZhai@austinramzy As expected, there were no breakthroughs on thornier points of contention, such as Taiwan, human rights and trade in sensitive technology. A key goal of the administration—establishing a military communication channel—didn’t materialize either. wsj.com/articles/xi-ji…
Jun 18, 2023 • 7 tweets • 7 min read
Global consumer brands grappling with a tepid economic recovery in China have another worry: Buyers in the country are turning more to local labels. @lizalinwsj@qianweizhang@rachelliang5602wsj.com/articles/lates…@lizalinwsj@qianweizhang@rachelliang5602 As recently as five years ago, China’s consumer market was dominated by foreign brands. Now, many Chinese labels are prevalent, having improved their reputation for quality, design and sales techniques, while tapping nimbly into shifting consumer tastes. wsj.com/articles/lates…
Jun 18, 2023 • 6 tweets • 4 min read
China’s small businesses are cutting staff, struggling to pay off debt and nervous about the future. “The biggest problem for small and micro enterprises now is survival,” says Ji Shaofeng, founder of a microloan trade association based in Jiangsu. @caocli wsj.com/articles/china…@caocli Less than 40% of small and medium-size enterprises are operating at full capacity, according to the latest survey conducted by the China Association of Small and Medium Enterprises, which sends questionnaires to 3,000 SMEs in the country every month. wsj.com/articles/china…
Jun 18, 2023 • 6 tweets • 6 min read
After Months of Cold Shoulder, China Welcomes Blinken to Beijing—Chinese officials have painted the U.S. as most eager to meet, but have their own reasons for detente @Lingling_Wei@willmauldin@nancyayoussef wsj.com/articles/after…@Lingling_Wei@willmauldin@nancyayoussef Ahead of Antony Blinken's trip to Beijing, the first visit by an U.S. cabinet official since 2019, Chinese officials, state media and academics have all played up the notion that it is the U.S. side that has been the most eager to meet. wsj.com/articles/after…
Jun 16, 2023 • 10 tweets • 9 min read
A development bank China launched with its fellow Brics countries was supposed to reshape international finance. Russia’s invasion of Ukraine now risks turning it into a zombie bank. @ajsaeedy@Lingling_Wei wsj.com/articles/a-ban…@ajsaeedy@Lingling_Wei Eight years after Xi Jinping and his counterparts from Brazil, Russia, India and S. Africa established the Shanghai-based New Development Bank, it has all but stopped making new loans and is having trouble raising dollar funds to repay its debts. wsj.com/articles/a-ban…
Jun 16, 2023 • 5 tweets • 4 min read
Chinese leader Xi Jinping turned 70 on Thursday, a milestone marked publicly in China by next to nothing. @austinramzy@ByChunHan wsj.com/articles/china…@austinramzy@ByChunHan Xi has accumulated more power than recent predecessors, and his image is ubiquitous in state media. But his birthday, in keeping with longstanding Party rules against celebrating the birthdays of living leaders, is hardly mentioned, even on his 70th. wsj.com/articles/china…
Jun 15, 2023 • 7 tweets • 7 min read
The People’s Bank of China embarked on a rate-cutting spree this week, in an effort to buttress a fragile recovery in the world’s second-largest economy.
@KeithZhai @wsj_douglasj @yifanxie wsj.com/articles/china…@KeithZhai@wsj_douglasj@yifanxie Beijing is planning major steps to revive the flagging economy, including the possibility of billions of dollars in new infrastructure spending, and looser rules to encourage property investors to buy more homes, people familiar with the discussions say. wsj.com/articles/china…
Jun 12, 2023 • 4 tweets • 3 min read
Bit by bit, American tech giants are shutting out users in Hong Kong, where moves by authorities to thwart online dissent are shifting the target from individuals to platforms such as Google’s YouTube. @newley wsj.com/articles/u-s-t…@newley Google, OpenAI and Microsoft have limited access to their artificial-intelligence chatbots in recent months in the global finance and business hub. In OpenAI’s case, the restriction puts Hong Kong and mainland China alongside N. Korea, Syria and Iran. wsj.com/articles/u-s-t…
Jun 12, 2023 • 4 tweets • 3 min read
After years of heavy borrowing, many in China are focused on paying down their debts this year—and the result could be weaker growth for a long time to come. @yifanxie wsj.com/articles/fuele…@yifanxie For years, China binged on credit to finance infrastructure projects big and small. Now, China finds itself facing a protracted period of deleveraging—the painful process in which borrowers divert income to pay down debts instead of spending and investing. wsj.com/articles/fuele…
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