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
- China Lowers Rates and Makes Bank Lending Easier in Response to Tariffs — Beijing rolls out first major policy moves since Trump’s actions in April.
- U.S. Advances Toward China in Hypersonic Weapons Race — With a lift from startups, the Pentagon completed test flights of an unmanned aircraft traveling at more than five times the speed of sound.
- U.S. and Chinese Officials to Meet for Trade Talks — Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer are set to meet with Vice Premier He Lifeng in Switzerland.
The Financial Times
- U.S. and China to launch formal trade talks — Washington dispatches Treasury secretary Scott Bessent to meet Chinese counterparts in Switzerland this weekend.
- China cuts key interest rate to 1.4% — Central bank reduces lenders’ reserve requirements as policymakers take action over U.S. trade war.
- China sees global turmoil as opportunity to be ‘business friendly’, says Novartis chief — Vas Narasimhan argues potential U.S. tariffs on pharma industry are not ‘sensible.’
- Opinion: Uniqlo to Temu: Japan’s shoppers make a generational shift — Chinese platforms have broken through barriers once considered impenetrable. By Lex.
- Opinion: The old global economic order is dead — China and others must think afresh as the US steps away from its role as balancer of last resort. By Martin Wolf.
The New York Times
- U.S. and China to Hold First Trade Talks Since Trump’s Tariffs — Scott Bessent, the Treasury secretary, and Jamieson Greer, the United States trade representative, will discuss trade and economic matters with the officials this week.
- Chinese Imports to US Hit 20-Year Low as Tariffs Sink In — While imports can swing with seasonal shifts, President Trump’s ratcheting up of U.S. tariffs on China has begun to cascade through supply chains, government data shows.
- China Is Likely to Play Hardball in U.S. Tariff Talks — Beijing says it will meet with American officials to discuss trade, but warned Washington against using the engagement to ratchet up pressure on China.
- Xi’s Visit to Russia Complicates China’s Courtship of Europe — Xi Jinping, China’s leader, is reinforcing his bond with President Vladimir V. Putin of Russia. But that could hurt Beijing’s efforts to repair ties with Europe.
- India vs. Pakistan Is Also U.S. vs. China When It Comes to Arms Sales — Increasing Western military support to India, and China’s to Pakistan, signals a shift in global alignments — and another potential flashpoint for international tensions.
- Why China Is Investing So Much Money in Moroccan Factories — Morocco is linked to Europe on the strength of its auto sector and a trade pact. But its status as a connector country has become precarious in the trade war.
- China Cuts Interest Rates to Shore Up Economy Hit by Trade War — China’s central bank acted shortly after news that officials from China and the Trump administration will hold their first formal trade talks since the punishing tariffs began.
Caixin
- PBOC Unveils Monetary Support to Stem U.S. Tariff Impact — Measures include injecting about 1 trillion yuan in long-term liquidity into the financial system and cutting its key policy interest rate by 10 basis points.
- China’s E-Commerce Giants Adjust Prices and Rethink Delivery Models as U.S. Tariffs on Low-Value Parcels Bite — Prices rise as China’s e-commerce parcels lose duty-free status after Trump directive targets them.
- China Revises Infectious Disease Law to Better Protect Individual Rights — The law will reward those who promptly report outbreaks, and exempt those who inaccurately report outbreaks from legal liability.
South China Morning Post
- How French technology could reduce China’s reliance on imported aluminium ore — A plant in Shanxi is being upgraded so that it can produce aluminium from low-grade bauxite that was previously unusable.
- Canadian CEO cuts out U.S. middlemen, forges direct China ties as supply chains break down — Activity in the world’s largest wholesale hub, Yiwu, illustrates how hurdles and headaches stemming from Washington’s tariffs have upended global trade norms..
- ‘Brazen’ suspected China surveillance sites in Cuba trigger U.S. House hearing — Lawmakers warn that Beijing may be expanding intelligence footprint near American soil and urge Trump administration to take firmer stance.
- How can Hong Kong help connect mainland Chinese firms with Qatar and Kuwait? — Trade Development Council urges Hong Kong to leverage professional services, international experience ahead of delegation trip to Gulf nations.
Nikkei Asia
- China urges state-backed tech players overseas to counter Trump tariffs — BOE and Lenovo among those mulling more aggressive expansions.
- China’s solar panel makers plunge to first combined net loss — Worsening capacity glut drags down prices and creates friction with Europe.
Bloomberg
- Xi Fortifies China’s Economy Before First Talks on Trade With U.S. — China’s top economic officials announced sweeping measures to stabilize markets, boost tech innovation and protect small businesses.
- China’s Factories Start to Imagine World Without American Buyers — Interviews with more than 20 Chinese manufacturers revealed unanimous support for China playing hardball with the U.S.
Reuters
- China’s wait-and-see approach exposes policy limit — It’s becoming clear that Beijing is more reluctant to quickly open up its fiscal taps this time around.
Other Publications
- PIEE: Significant, but not systemic: The challenge of China’s efforts to rival Western financial predominance — The Chinese renminbi is not yet ready to be a serious contender for leading international currency status.
