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. Paid subscribers automatically have this list emailed directly to their inboxes every day by 10 a.m. EST. Subscribe here. The Wall Street Journal Beauty Stocks Tell an Ugly Story About China — Are Chinese consumers clawing their way back, or not? Shiseido’s plummeting China sales—and stock price—are a vote for the latter. U.S. Shift on Global Tech Rules Jeopardizes Effort to Counter China — Some Asian allies see rules facilitating digital trade as crucial to a trade deal among Pacific nations, but the U.S. is retreating. ICBC Hackers Used Methods Previously Flagged by U.S. Authorities — Attack stemmed from Lockbit 3.0 ransomware and two tactics targeting users of services managed by Citrix, Treasury says. Why Xi Can No Longer Brag