Daily Buzz: 20 January 2026

China Growth Hits 2025 Target Despite Economic Soft Spots

China economic growth in the fourth quarter slowed to an annual rate of 4.5 percent from 4.8 percent in the prior quarter, the Bureau of Statistics reported. However, growth for all of 2025 came in at 5 percent, topping a value of 140.2 trillion yuan (US$20 trillion) and meeting the government target for the year. Exports, which withstood a year of tariff wars with the US, comprised about a third of growth. In other data released by the agency on Monday, retail sales in December rose 0.9 percent from a year earlier, industrial production increased 5.2 percent and fixed-asset investment, which includes real estate, fell 1.1 percent in the month.

New home prices in 70 major cities in December were down 0.4 percent from November. Home resale prices slid 0.7 percent, the most in 15 months. The property sector has been ailing since it was hit by a liquidity crunch that began in 2021.

In a roundup of 2025 economic data, the bureau said retail sales rose 3.6 percent, industrial production was up 5.9 percent and fixed-asset investment dropped 3.8 percent. Per-capita disposable income, a measure of consumer spending power, rose 5 percent for the year. The urban unemployment rate stood at 5.2 percent. Consumer prices in 2025, released earlier this month, were flat from a year earlier.

"We must adopt more proactive and effective macro policies and continue to expand domestic demand," the statistics bureau said in an English-language statement.

Trump Ties Nobel Prize Snub to Greenland Takeover

President Donald Trump sent a message to Norwegian Prime Minister Jonas Gahr Støre grousing about his failure to be awarded the Nobel Peace Prize last year, "Since your country decided not to give me the prize for having stopped eight wars plus, I no longer feel an obligation to think purely of peace." He went on to say that the world "is not secure unless we have complete and total control of Greenland." It's unclear why he wrote to Støre when the Norwegian government plays no part in awarding Nobel prizes. Separately, UN Secretary-General António Guterres told the BBC the US believes that its power matters more than international law and that multinational solutions are irrelevant.

European leaders will meet on Thursday to discuss new tariffs Trump has imposed on eight European countries that oppose his plans to take over Greenland from the Danes. The US and the eight countries are all members of NATO, where a deep schism has opened over Greenland. UK Prime Minister Keir Starmer, in an address to the nation, said Greenland's future should be left to Greenlanders and Denmark. Though he stressed the importance of the UK's strategic alliance with Washington, he said "being pragmatic doesn't mean being passive." French President Emmanuel Macron is urging retaliatory measures.

Davos Forum Convenes Amid Global Tensions

The annual Davos forum, where business leaders hobnob with political leaders, has begun in the Swiss ski resort town under the theme "Spirit of Dialogue," a timely topic given that spirit is currently engulfed by tensions related to rising US tariffs and flexing of military power. The high-profile meeting sponsored by the World Economic Forum will host 400 political leaders and nearly 65 government leaders. Among the participants will be US President Donald Trump, whose strongarm tactics in diplomacy and trade have roiled traditional norms of international relations. Other notable attendees include China Vice Premier He Lifeng, French President Emmanuel Macron, German Chancellor Friedrich Merz and Ukrainian President Volodymyr Zelensky. The forum's latest global risk survey listed geopolitical-economic confrontation as a top concern, with half of respondents expecting the next two years to be turbulent.

Japan Prime Minister Calls Snap Election

Japanese Prime ⁠Minister Sanae Takaichi called a national election for February 8 to seek a mandate for her policies of increased spending, tax cuts and a military buildup. She promised a two-year suspension of the 8 percent sales tax on food. The snap election puts all 465 seats in parliament's lower house up for votes.

Top Business

China Coal-Power Generation Drops

China's coal-fueled power generation dropped last year for the first time in a decade despite record coal production as government policies shift the energy industry from dependence on carbon-based power to renewable sources. Thermal electricity, generated mostly by coal and a small amount of natural gas, fell 1 percent last year to 6.3 trillion kilowatt-hours, the National Bureau of Statistics reported. That drop came amid a 7 percent increase in overall power demand. Hydropower last year rose 2.8 percent, and nuclear power was up 7.7 percent.

On the demand side, China regulators issued new guidelines to accelerate the construction of zero-carbon factories. A document issued by five government bodies sets phased targets across sectors such as automobiles, lithium batteries, solar panels, electronics and machinery. By 2030, the initiative will expand to more energy-intensive sectors like steel, non-ferrous metals, petrochemicals, building materials and textiles.

Ronbay Faces Regulatory Scrutiny of CATL Contract Claims

Ningbo-based Ronbay New Energy Technology, a maker of materials used in batteries, said it is being investigated by China's securities regulator over allegations it made misleading statements regarding the 120 billion yuan (US$17 billion) supply contract it signed last week with battery giant Contemporary Amperex Technology (CATL). Its stock was suspended from trading in Shanghai. The company said it received a letter from the stock exchange requiring it to provide additional explanation of how it plans to supply CATL with such a large volume of material -- 3.2 million tons of lithium-iron phosphate cathode -- when Ronbay last month reported annual production capacity 60,000 tons.

Japan Poised to Restart World's Largest Nuclear Power Plant

Just weeks shy of the 15th anniversary of the Fukushima nuclear power disaster in Japan that killed about 20,000 people, plant operator Tokyo Electric Power is preparing to restart one of seven reactors at its Kashiwazaki-Kariwa plant on the Japan Sea 220 kilometers northwest of Tokyo. The facility, the largest nuclear power plant in the world, was shut down – along with other reactors -- in 2012 after the Fukushima meltdown triggered by an earthquake and tidal wave. Public opinion among the 420,000 people living within an evacuation radius of 30 kilometers around the Kashiwazaki-Kariwa plant in Niigata prefecture opposes its restart, the Guardian reported.

Economy & Markets

Shanghai, London Tin Price Surge Rattles Supply Chains

A speculative surge in tin prices is sending shockwaves through global industrial supply chains and increasing liquidity concerns in an already tight metals market, where copper prices are at all-time highs. Tin has risen to records this month on London and Shanghai exchanges even though the metal isn't in short supply. Volume on Shanghai Futures Exchange tin contracts exceeded one million tons in a single day, more than twice annual global physical consumption. China's Nonferrous Metals Industry Association called the rally irrational and cautioned investors against herd mentality. Tin is used in industrial applications such as coatings, solder, flame retardants, and tinplate used in electronics, paints and beverage containers.

Asian Markets Slump, Shanghai Bucks the Trend

Asian stock markets, except mainland China's, fell on Monday amid geopolitical tensions that have mounted since the US began flexing its military muscle in threats or interventions involving Greenland, Iran, Venezuela and Nigeria. The US dollar dropped, and gold and silver prices hit fresh peaks as investors looked for safe havens. Japan's Nikkei index lost 0.65 percent, and the Hang Seng index in Hong Kong was down 1.1 percent. However, the benchmark Shanghai Composite Index rose 0.3 percent on news that Beijing's target for 5 percent growth in 2025 was achieved. Losses in European stock markets were deeper amid escalating tensions over US threats to annex Greenland. The Stoxx600 index fell 1.2 percent. US markets were closed for a holiday.

China's CD Interest Rates Drop

Interest rates on newly issued certificates of deposit with maturities of under one year have generally fallen below 1 percent at most Chinese lenders, Yicai reported, citing data from the China Foreign Exchange Trade System. Rates on securities with maturities of one year dropped below 1.5 percent, and those with maturities of three year slid below 2 percent. Financial institutions estimate that about 75 trillion yuan (US$10.8 trillion) worth of deposits will mature this year.

Corporate

Baidu's Apollo Go Launches Robotaxis in Abu Dhabi

Chinese tech giant Baidu announced that its Apollo Go robotaxi unit and United Arab Emirates partner K2 AutoGo have officially launched their self-driving, ride-hailing cars in Abu Dhabi, marking a major step in robotaxi services in the Middle East. The two companies began their partnership last March. "Moving from an initial partnership to launching live, fully driverless operations for the public in a span of just a few months is a remarkable milestone," Liang Zhann an official with Baidu Apollo in the region, said in a press statement. Hundreds of vehicles are expected to be deployed this year.

Asus to Exit Smartphone Market

Taiwan-based consumer electronics company Asus said it will stop launching new smartphones, exiting from a business that has struggled to deliver it profits amid stiff global competition. Chairman Jonney Shih said Asus will no longer refresh its Zenfone and ROG Phone product lines but will continue to support existing users with full after-sales service, warranties and software updates. The company plans to redirect research and development toward core growth areas such as PCs, artificial intelligence devices and AI-focused computing systems.

Porsche Sales in China Drop for a Fourth Year

German luxury carmaker Porsche said sales in China declined in 2025 for the fourth straight year, dropping 60 percent from a peak in 2021. Sales last year fell 26 percent, contributing to a global sales decline of 10 percent. Porsche China Chief Executive Pan Liqi earlier confirmed plans to reduce numbers of authorized sales outlets in the country from 150 in 2024 to 80 by the end of this year. All European luxury car makers are struggling in China as domestic rivals compete with them in electric vehicles, price and intelligent-driving features.