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
- Chinese Automakers Report Robust Sales Growth in April — Chinese automakers’ latest monthly sales show that demand for electric vehicles in the world’s second-largest economy remains strong, with Tesla rivals such as XPeng posting robust April numbers.
- E-Commerce Sellers Brace for End of De Minimis — The trade provision that allows companies to avoid duties on shipments worth $800 or less is ending for products made in China.
- Beijing Doesn’t Want America to See Its Trade-War Pain — Plunging trade across the Pacific is leading to production halts and threatening job instability for millions of Chinese.
- Beijing-Backed Accounts Hint at U.S. Outreach on Trade as China Keeps Door Open — Beijing-backed social media accounts say U.S. officials have reached out to Chinese counterparts through multiple channels to discuss trade, as the world watches for any sign of tariff talks between the two sides.
- China-to-U.S. Container Shipments Shrink as Tariffs Bite — The biggest carriers say they are switching to smaller ships as others cancel trans-Pacific sailings outright.
The Financial Times
- China signals opening for trade talks with US — State media message suggests softening of Beijing’s position, say analysts.
- Foreign companies flock to ‘panda bond’ market in hunt for China hedge — Multinationals attracted to lower funding costs and protection against deteriorating Washington-Beijing ties.
The New York Times
- Could Apple Exist Without Its Ties to China? Probably Not. — The world’s most valuable company has become so reliant on Chinese suppliers and sales that it would be worth half as much or less without them.
- 100 Days of Solitude: Trump and the Retreat of America — President Trump’s approach to foreign policy in his second term has been transactional, unpredictable and exploitative. Allies and enemies alike are beginning to adapt.
- As a Tariff Loophole Closes, Sellers Who Import From China Brace for Chaos — Independent vendors who sell on sites like Etsy and eBay are trying to blunt the pain from tariffs on low-cost Chinese-made goods.
- Somalia Bars Taiwanese Passport Holders From Entering the Country — The decision comes as Taipei has worked to build its ties with Somaliland, a breakaway territory that declared independence from Somalia decades ago.
Caixin
- Elderly Care Ponzi Scheme Exposes Official Corruption — An investigation into local government agencies overseeing the senior care industry uncovered a pattern of inaction and corruption that enabled a billion-yuan scam to flourish for over a decade.
- Vice Chairman of China’s Securities Regulator Latest Target of Corruption Probe — Financial industry shaken as anti-graft probe snares ‘cautious and diligent’ CSRC leader.
- AstraZeneca Faces Intensified Probe in China as Tax Evasion Amount Grows — Pharma giant faces huge fines in China if found liable of avoiding import taxes on breast cancer drug.
- BYD Breaks Ground on Cambodia EV Plant as Part of Global Expansion — BYD says its $32 million Cambodian plant will have the capacity to make 10,000 EVs a year.
- Walmart Tells Chinese Suppliers to Resume Shipments — Retail behemoth will absorb some of the costs of Trump’s tariffs, Caixin has learned.
South China Morning Post
- China’s C919 stuck on tarmac in Europe as certification timeline extended — European regulator says approval for the C919 could take three to six years, dashing hopes China’s jet would pass inspection in 2025.
- Volkswagen, GM, Nissan adopt Chinese technology as they strive to win back EV market share — More than a dozen new EV models from foreign giants at Auto Shanghai feature the latest Chinese technologies in battery, digital cockpit and self-driving.
- Opinion: US-China trade war has left ordinary people stuck in the middle — The implication that Chinese people’s aspirations for prosperity must be curtailed to preserve American primacy is deeply problematic. By Gemma Chenger Deng.
Nikkei Asia
- China consumer belt-tightening constrains KFC operator, Starbucks — Yum China shares drop 7% after earnings; homegrown chains also hit by ‘shift in behavior’.
- Trump’s China tariffs spark shipping disruptions comparable to COVID — Bookings sink as US importers halt orders, raising fears of empty store shelves.
- How China’s military mystery can spill into Taiwan strategy — An expert on the island vanishes as Xi Jinping also deals with Trump’s trade war.
- China’s CSSC shipbuilders ride wave of orders to profit — But US port fees, trade frictions cast shadows on future earnings.
- Opinion: China, India quietly bid for global leadership as the US abdicates — The world’s largest emerging powers offer competing visions of a multipolar future. By Chietigj Bajpaee.
Bloomberg
- Chinese Hacking Competitions Fuel the Country’s Broad Cyber Ambitions — Participants are required to turn findings over to the Chinese government.
- Markets Set for Shock From Disappearing Chinese Goods — Investors are in for a shock in the next few weeks as the slowing flow of goods from China underscores the risks tariffs bring to the US economy, the latest MLIV Pulse survey showed.
- Opinion: Silicon Valley’s Hype Cycle Is Taking Off in China — The tech sector has seemed more or less immune to the US trend. By David Fickling.
Reuters
- FCC to vote to bar Chinese labs deemed security risks from testing US electronics — “We’re addressing another potential loophole in our national security process by ensuring that only trustworthy labs can participate in our process,” FCC Chair Brendan Carr said in an interview.
Other Publications
- CFR: Why East Asia Is a Target of Trump’s Tariff War, in Six Charts — President Donald Trump’s proposed “reciprocal” tariff plan places some of the highest tariff levels on East Asian countries—many of which depend on U.S. markets to grow their economies.
- Foreign Policy: Washington May Regret Overextended AI Chip Controls — Ever-tightening restrictions are boosting Chinese firms.
- Foreign Affairs: China Is Still Winning the Battle for 5G—and 6G — America Must Do More to Compete With Huawei.
- The Washington Post: China signals, ever so obliquely, that it’s more open to trade talks — After three months of bluster and huge tariffs on both sides, Beijing and the Trump administration are softening their language on holding negotiations.
- The Economist: Why China has the upper hand in its trade war with America — A truce is still possible, but no one wants to be first to pick up the phone.
- ChinaFile: Cautioning His Students to Stay Quiet, A Scholar of China Hears Echoes of Its Past in America’s Present — Much of what has unfolded throughout the American political arena over the past few months has felt eerily reminiscent of events from the era of high socialism and the reign of Mao Zedong.
