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
- Huawei Posts Profit Drop But Revenue Signals Solid Comeback — The Chinese technology giant’s net profit fell in 2024 as higher expenses weighed, but solid revenue growth signals that the company is making a comeback after years of heavy U.S. sanctions that have affected its businesses.
- China’s Factory Activity Expanded in March — Activity in China’s vast manufacturing sector expanded at the fastest pace in a year in March, sending another sign of green shoots in the world’s second-largest economy as policymakers brace for more U.S. tariffs this week.
- China’s Big State Banks to Get $71.6 Billion Capital Injection — Four of China’s largest banks are planning to raise up to $71.6 billion via share sales under a finance ministry-led plan aimed at bolstering capital and beefing up lending to help boost the economy.
- A Peter Thiel Protégé Is Leading Trump’s AI Strategy Against China — Michael Kratsios will work to counter Beijing without disrupting U.S. businesses.
- How a New Axis Called CRINK Is Working Against America — China, Russia, Iran and North Korea have united to defy Western sanctions and undermine U.S. interests.
- In Greenland, Vance Criticizes Denmark’s Stewardship of the Island — The vice president said Denmark hasn’t protected the island as China and Russia show interest in the Arctic.
- Panama Ports Deal Touted by Trump to Miss April 2 Deadline — China’s antitrust regulator said it would review a $23 billion deal that would shift control of two ports in Panama to an investor group led by BlackRock.
- Humanoid Robots Are Lousy Co-Workers. China Wants to Be First to Change That. — U.S. and China are racing to build a truly useful humanoid worker. Whoever wins could gain a huge edge in countless industries.
The Financial Times
- Property sales at Chinese developer Country Garden drop by over a third — Revenue slump highlights extent of real estate slowdown now in its fourth year.
- China’s WeRide warns driverless tech profitability ‘difficult to predict’ — Nasdaq-listed autonomous vehicle company says government regulation and local partners are key to ending years of losses.
- China’s export boom sparks record number of trade challenges — Beijing’s reliance on overproduction to offset weak demand at home stokes grievances among trade partners.
- Beijing launches $72bn capital injections at biggest banks — Share sales part of authorities’ bid to boost lending amid economic slowdown.
- Only 0.6% of offshore debt recovered from China’s property developers — Analysis shows three out of 62 companies have made any coupon repayments since 2021 under restructuring deals.
- Smiths expands US manufacturing of chip testers, after trade restrictions — Some production will move from China, although plant there will still supply Asia and Europe.
- Xi pitches China to global CEOs as protector of trade — Beijing casts itself as force of stability for international business as Trump’s next tariff salvo looms.
- Opinion: The realpolitik of Trump’s tariffs — The president’s trade policy is about power and security, not economics. By Rana Foroohar.
The New York Times
- The Chinese Electric Vehicle Founder Who Wants In on Trump’s America — Wen Han is intent on listing Windrose’s stock in New York. He is fueled by $300 million, Chinese technology and a belief that “China doesn’t have to be the enemy forever.”
- Why China Is Wary of a Trump-Xi Summit — It could take months for agreement on a meeting between President Trump and Xi Jinping, China’s top leader, as Chinese officials seek a scripted encounter.
- Trump’s U.S.A.I.D. Cuts Hobble Earthquake Response in Myanmar — While China, Russia and other nations have rushed emergency response teams to the devastated country, the U.S., once a leader in foreign aid, has been slow to act.
- Hegseth Pledges to Step Up Military Cooperation With Japan — The U.S. defense secretary sought to reassure its ally over security ties and vowed to speed up the creation of a joint “war-fighting headquarters” to deter China.
- Search for Survivors at Collapsed Bangkok Building — The collapse of a 30-story building under construction was “not normal,” an engineering expert said. It was one of the biggest projects ever done by a Chinese state-owned company.
- Blackstone Considers Small Investment in TikTok — The private equity giant is considering investing as the video app works to follow a law that requires it to separate from its Chinese owner, ByteDance, by next week.
Caixin
- China’s Legislature Overturns Judicial Ruling That Spooked Investors — Lawmakers decide court’s decision on liability for paying-in registered capital violated a core legal principle.
- China’s Global Financial Power Grows as External Assets Hit Record — Net foreign financial assets surged to $3.3 trillion by the end of last year, cementing the country’s position as a financial heavyweight.
- How China’s Pampered Pets Fuel a $40 Billion Market — China’s pet economy is growing into a multibillion-dollar market as more people turn to furry companions for emotional support amid the nation’s dramatic economic and demographic changes.
- EV Upstart Nio Going Nowhere Fast — Nio Inc. is at a crossroads. The Chinese electric vehicle (EV) upstart is grappling with persistent losses that show little sign of ending, as enthusiasm for its mass-market model wanes.
- The Battle for Control Over a Billion-Dollar Satellite Firm — For more than six years, the founding team of Chengdu Corpro Technology Co. Ltd. has been pitted against the company’s biggest investor in a struggle for control of the satellite-equipment maker.
South China Morning Post
- How AI revolution is making a Chinese coal mine turn more profits than an investment bank — China’s Dahaize Mine is rewriting the playbook on how a coalfield operates as automation takes centre stage.
- AI autonomy and endurance of China’s Rainbow-9 drone expected to change unmanned warfare — State media reveals attack drone requires a ground crew of five to manage flight oversight and handle payload systems.
- Nuclear risk from military AI prompts calls for US, China and others to seek agreement — The technology is increasingly being adopted by armed forces, but so far there has been no global consensus on how to manage the risks.
- Could China become an attractive retirement home for foreigners? — A retiree visa could boost the economy and improve the elderly care industry, according to proposal.
- Is China’s top-down science strategy driving innovation or killing it? — Study challenging view that free exploration is best for innovation sparks debate over role of state-driven science in frontier research.
Nikkei Asia
- Chinese EVs chip away at Japan automakers’ dominance in Indonesia — Government efforts to build industry prompt entry by Chinese carmakers.
- Chinese high rollers pull back in Las Vegas, but other Asians up the ante — With broad range of attractions, city attracts more Vietnamese and South Korean visitors.
- Opinion: ‘Made in China 2025’ has been a partial success — China has made strides in high-tech exports but still relies on foreign inputs for critical sectors. By Shamik Dhar.
Bloomberg
- Xi Showdown With Li Ka-shing Threatens China’s Pro-Business Push — Hours after Xi pledged at a meeting with global executives in Beijing on Friday to create a “predictable” business environment, China’s market regulator said it would open a review into billionaire Li Ka-shing’s deal to sell 43 ports around the world.
- China, Japan, S. Korea Renew Free-Trade Call, Vow to Build Ties — Trade chiefs from China, Japan and South Korea renewed their call for an open, fair flow of goods and pledged to deepen economic ties, a few days before the Trump administration is set to unleash fresh tariffs on nations around the world.
- Opinion: The US Is Losing the Contest to Divide the World — Splitting the globe into spheres of influence with China and Russia is more likely to lead to war than peace. By Hal Brands.
Reuters
- For China and US Inc, Trump’s trade war feels much worse this time — Chinese suppliers and their American clients are now coming to grips with the grim reality that this trade war will hit harder than in Trump’s first term in 2018.
- Chinese brain chip project speeds up human trials after first success — The Beijing-based Chinese Institute for Brain Research (CIBR) and NeuCyber NeuroTech has inserted Beinao No.1, a semi-invasive wireless brain chip, into three patients in the past month and has 10 more lined up for this year.
- Pro-Beijing media ramp up attack on CK Hutchison ports deal — CK Hutchison has faced an increasing barrage of criticism from China on its decision to sell most of its $22.8 billion ports business to the U.S.-led group.
Other Publications
- Rest of World: China’s SpaceSail is expanding where Elon Musk is stumbling — The Shanghai satellite company is launching deals in countries where Starlink, X or Tesla are creating friction.
- Foreign Policy: Are China and Russia on a Collision Course in Africa? — While Beijing seeks influence and prizes a stable investment climate, Moscow is sowing chaos and selling private security services to quell it.
- The Washington Post: Secret Pentagon memo on China, homeland has Heritage fingerprints — A secret memo from Defense Secretary Pete Hegseth focuses on deterring China’s seizure of Taiwan and shoring up homeland defense.
- The Washington Post: China wants to lead the world in robots — from dogs to dancers — Beijing is promoting China’s robotics sector as part of its drive to own the technologies of the future. It is fast closing the gap with the United States.
- POLITICO: Hegseth calls Japan indispensable in the face of Chinese aggression — His comments come as an assurance at a time when Japan has been worried about how U.S. engagement may change under President Trump’s “America First” policy.
