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
China’s Housing Crisis Keeps Brewing in Beijing’s Weak Tea — There are reports of possible bond guarantees but no clear signs of any government action bold enough to revive the property market.China’s Scorching Heat Leads to Power Cuts, Factory Disruptions — Foxconn, VW, Toyota plants hit in Sichuan; crop output also affected.China to Join Russia Military Exercises as U.S. Rivals Deepen Ties — Moscow plans to hold drills in its Far East region near the border with China and North Korea from Aug. 30 to Sept. 5.Tencent Posts First Revenue Drop Since 2004 IPO — Economic woes weigh on Chinese social-media gia
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