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
- EV Trade War Could Spread to Luxury Cars — Investors are used to worrying about an invasion of Chinese electric vehicles into Europe, but tit-for-tat tariffs would instead hit Porsches heading to China.
- Four Iowa College Instructors Stabbed in China — The instructors, affiliated with Cornell College, were teaching as part of a partnership program with a local university.
- Alibaba’s New E-Commerce Strategy Faces Tough Competition — Alibaba’s strategic shift to prioritize long-term growth over substantial near-term profits is showing some early success, but analysts say increasing competition could prevent the e-commerce giant from regaining its past market dominance.
- Chinese EV Makers’ Shares Drop on Tariffs Concerns — Chinese electric vehicle makers’ shares dropped in Hong Kong amid concerns that more countries could increase tariffs on cars imported from China.
The Financial Times
- Four US educators attacked in China — Chinese authorities say stabbings in public park in north-eastern Jilin believed to be isolated incident.
- Opinion: The rule of law in Hong Kong is in grave danger — Many judges have lost sight of their traditional role as defenders of the liberty of the subject. By Jonathan Sumption.
The New York Times
- 4 Instructors From Iowa College Are Attacked in Public Park in China — The Cornell College instructors were in the city of Jilin as part of a partnership with a local university. Much about the attack was still unclear.
- U.S. Bans Imports From 3 Chinese Companies Over Ties to Forced Labor — The government targeted companies involved in making seafood, aluminum and footwear, citing their links to labor programs affecting Chinese minorities.

Caixin
- China’s Citic Group Corp Executive Probed For Suspected Corruption — Xu Zuo is a deputy general manager of the financial conglomerate and also a vice president of the group’s Hong Kong-listed subsidiary Citic Ltd.
- Chinese Tech Giants Bet Big on AI to Boost Cloud Business — Chinese tech firms are slashing prices of their artificial intelligence (AI) models in a move to stimulate the growth of their cloud businesses.
- China’s Stock Exchanges to Tighten Controls on High-Frequency Trading — The Shanghai, Shenzhen and Beijing bourses plan to impose stricter rules and extra fees on the practice, a type of controversial trading blamed for fueling market turmoil this year.
South China Morning Post
- China blacklists noted children’s charity over 10 million yuan donation fraud — Former volunteer accused of taking millions from parents of sick children, as well as a senior official are facing the dock as cases sent to prosecutors.
- China warns against Dutch naval ‘intrusion’, disputes East China Sea encounter — Defence ministry disputes Netherlands’ account of last week’s ‘unsafe’ incident between PLA aircraft and Dutch frigate.
- China’s travel spending surges over Dragon Boat holiday, signals more ‘stable’ tourism market — Three-day holiday figures bode well for the coming summer vacation, with students expected to help drive domestic tourism.
- Chinese triple-A video game Black Myth: Wukong proves a big hit with initial pre-orders 16 times oversubscribed — The action role-playing video game, developed by Tencent-backed Game Science, is set for release on August 20.
- Opinion: Beijing can restore private sector confidence with another third plenary ‘magic touch’ — Deng Xiaoping and Jiang Zemin used third plenary sessions to usher in new eras of growth. Beijing should do it again. By Zhou Xin.
Nikkei Asia
- China rebuffs Pakistan’s Sharif on new BRI investment — While Sharif and his entourage of cabinet ministers met with President Xi and other top officials in Beijing, the group left nearly empty handed after finishing a five-day official visit this past weekend.
- China-Russia-Iran-North Korea axis heightens the risk of WWIII — Ukraine’s increasingly desperate battle against the invading forces is not the only bad news for the world. Equally disturbing is a sign that China, North Korea and Iran are deepening ties with Moscow to help Russia’s war machine.
- China’s 3-pronged maritime threat rattles Japan, Philippines and Taiwan — As China steps up coast guard patrols in the South and East China seas, Japan, Taiwan and the Philippines are wrestling with how to defend their territory and national interests — without provoking a war.
- Thailand’s rail network to link to Laos-China high-speed train — Thailand is connecting its national railway with the Laos-China rail network to boost trade among the three countries, with expectations that Thailand will act as the region’s logistics hub.
- Opinion: Japan-style fixation on population decline won’t help China — Reports and analyses hewing to the notion that demography is destiny argue that due to falling births, China will soon be left without workers to run its factories and offices. By Stefan Angrick.
Bloomberg
- UAE Minister Says US Concerns Over Chip Supplies to China Valid — “Sometimes you are a victim of the neighborhood you are in,” Omar Al Olama, the UAE’s minister for artificial intelligence and digital economy said in a Bloomberg Television interview on Tuesday.
- China’s Deadly Rains Feed Dams, Boosting Clean Energy and Hydroelectric Stocks — Deadly rains in China that have damaged farming and infrastructure are feeding a recovery in the world’s most powerful dams, boosting clean energy generation and sending hydroelectric stocks to record highs.
- China Solar Leaders Urge Government Intervention to Cure Slump — Leaders from some of China’s top solar manufacturers called for increased government action to guide the industry as excess production capacity slashed prices and profits.
- Opinion: Russia Is Just the Market Chinese Automakers Need — Cut off from the rest of the world, Moscow is getting its supply from a nation that needs to find new buyers. By Tim Culpan.
- Opinion: Modi’s Jobs Crisis Can’t Be Solved Without China — To attract manufacturers, India’s new government needs to lower tariffs and let companies bring their Chinese suppliers with them. By Mihir Sharma.
Reuters
- Chinese automakers committed to Europe despite EV tariff probe, industry group says — The European Union alleges Chinese automakers benefit unfairly from state subsidies and accuses them of dumping excess production on Europe, charges that Beijing denies.
- China’s discount wars risk cementing frugal consumer mindset — While the retail downshift has propelled revenues for firms like discount e-commerce platform Pinduoduo, economists fear their success is entrenching a Japanese-style deflationary mindset in the consumer that will be difficult to shake.
- In China, a search for identity boosts Lululemon, premium sportswear brands — The market, the world’s biggest after the United States, is seen growing 7% this year to $59 billion, outpacing the 0.8% forecast growth in non-sportswear apparel and footwear.
Other Publications
- The New Yorker: How Members of the Chinese Diaspora Found Their Voices — In the past few years, many Chinese people living abroad have found themselves transformed by the experience of protest.
- The Economist: China is distorting its stockmarket by trying to prop it up — State purchases of shares are bad enough, but other measures are far more destructive.
- ChinaFile: Opinion: The Committee that Ended the Age of Engagement? — Policies that long held broad political support and that underpinned U.S.-China ties are now up for debate. By Charles Hutzler.
- The Information: Shein’s 40% Revenue Growth and Profit Boost in 2023 Could Help Lure IPO Investors — Shein recorded $32.2 billion in sales last year, up 40%, compared with 37% growth in 2022, despite rising competition from Chinese bargain seller Temu.