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
- BYD, NIO Get Approval to Test Automated Driving Technology on China Roads — This is the first time that Chinese authorities have approved testing for level 3 and level 4 automated driving technologies in China.
- China Caixin PMI Signals Fastest Services Activity Growth in 10 Months — The Caixin services purchasing managers index reached its highest level since July 2023.
- China Is No Longer an Open Road for German Carmakers — A dispute between Porsche and its Chinese dealers highlights falling sales.
The Financial Times
- China’s plan to sell cheap EVs to the rest of the world — Shut out of the US by tariffs and facing a backlash in Europe, Chinese carmakers could end up dominating many emerging markets.
- China emerges as one of biggest bilateral lenders to Philippines — Report illustrates special role Beijing plays in south-east Asia as region tries to balance political and economic interests.
The New York Times
- Europe Has Fallen Behind the U.S. and China. Can It Catch Up? — A “competitiveness crisis” is raising alarms for officials and business leaders in the European Union, where investment, income and productivity are lagging.

Caixin
- In Depth: Chinese Lithium Giant’s Chile Headache Telling of Growing Global Resource Protectionism — The Chilean government’s move to take greater control over the country’s largest lithium reserve in a deal with local giant SQM has put its Chinese shareholder Tianqi Lithium in a bind, and comes as developing nations around the world take a greater interest in their mineral resources needed for a green transition.
- Developers Slash Spending on Land as Number of Unsold Homes Mounts — Chinese developers further applied the brake on land acquisitions during the prolonged housing market downturn and government’s push to reduce housing stock.
- Exclusive: Unigroup-Backed Phone Chip Designer Valued at $9.1 Billion, Plans to Kick Off IPO Process Next Year — The latest funding round of Tsinghua Unigroup-backed mobile phone chip designer Unisoc will value it at about 66 billion yuan ($9.11 billion), falling short of its previous target, multiple sources told Caixin, adding that the company plans to start the listing process next year.
South China Morning Post
- Hedge fund billionaire Ray Dalio says benefits of investing in China outweigh risks — The billionaire founder of the world’s largest hedge fund Bridgewater Associates said investing in China is a good idea despite the risks, because Chinese assets are cheap and can help balance portfolios.
- China’s Dalian shipyard begins work on third liquefied carbon dioxide carrier — Dalian Shipbuilding Industry is building a third specialist vessel ordered by Northern Lights for transporting liquefied carbon dioxide to sites for permanent geological storage.
- China’s local government debt woes ground ambitions of regional airlines as overdue subsidies mount up — Regional state carrier Joy Air has filed three lawsuits since the start of the year against three local governments in China, with two concerning overdue subsidies.
Nikkei Asia
- Singaporean, Swiss banks target Hong Kong as rivals feel geopolitical chill — Hiring picks up as OCBC chief says clients turning to them over ‘Western counterparts.’
- China’s BAIC speeds push into Africa with Cairo flagship store — State-owned automaker looks to expand sales across continent and to Middle East.
- Philippine military denies pointing guns at China Coast Guard — Manila asserts ‘professionalism’ amid Beijing’s provocations in South China Sea.
Bloomberg
- China Says Its Ukraine Plan Has Backing After Summit Snub — China’s top diplomat said more than two dozen countries have expressed backing for Beijing’s vision to resolve the Russia-Ukraine conflict, days after China indicated it will skip an upcoming peace summit in Switzerland.
- China Risks Trade War on Two Fronts as Low-Tech Exports Soar, Too — China’s export boom goes far beyond the high-tech industries that are in Western crosshairs, leaving Beijing at risk of a backlash from countries that have so far preferred to sit on the trade-war sidelines.
- How Shein’s US IPO Plans Got Derailed by China Rift — US investors appear to be on the verge of losing out on Shein’s potentially huge initial public offering, as the fast-fashion giant with Chinese roots prepares a confidential filing for a listing in London instead.
Reuters
- China’s exports seen rising more quickly in May, boosting growth prospects — China’s exports likely grew more quickly and for a second month in May thanks to improving overseas demand, giving officials some comfort as they navigate numerous challenges at home to shore up an uneven economic recovery.
- Chinese who lost money in bank fraud detained for months after protest — When Ou Yangyun travelled to the Chinese city of Zhengzhou in February to demand recompense after his bank account containing tens of thousands of dollars was frozen, his family expected him to be home two days later to celebrate the Lunar New Year with his five-year-old twins.
- Exclusive: Chinese AI chip firms downgrading designs to secure TSMC production — Some Chinese AI chip companies are now designing less powerful processors to retain access to Taiwan Semiconductor Manufacturing Co (TSMC) (2330.TW) production in the face of U.S. sanctions, four people with knowledge of the matter said.
Other Publications
- Associated Press: Washington warns of danger from China in remembering the 1989 Tiananmen crackdown — Members of the U.S. Congress on Tuesday said the ruling Chinese Communist Party that sent in tanks against peaceful student protesters 35 years ago in the heart of Beijing is as ruthless and suppressive today as it was in 1989, a stark warning as they commemorated the anniversary of China’s bloody crackdown in Tiananmen Square.
- Washington Post: Opinion: The Chinese doping scandal demands a dramatic U.S. response — The Biden administration can help to restore credibility and fairness to international athletics. By Leana S. Wen
- The Information: Apple held talks with China Mobile to bring Apple TV+ to China — Apple was in talks last year to launch its Apple TV+ video streaming service in China via a deal with China Mobile, the country’s largest telecommunications provider.
- The Guardian: Pride before a fall: water pipe helps cherished waterfall in China stay flowing — A viral video from a tourist showed that Yuntai falls in Henan province relies on some artificial help to keep the torrent of water flowing.