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
- Meet the China Factory Owner Who Voted for Trump and Doesn’t Regret It — Philip Richardson’s audio-equipment business in southern China is feeling the pain from tariffs, but he still backs the U.S. president.
- Rare-Earths Plants Are Popping Up Outside China — U.S., Brazil are among countries building capacity to mine and refine metals for EVs and smartphones.
- China’s Economy Feels the Sting From Trade War — April data show across-the-board slowdown, highlighting the risks of a drawn-out trade fight.
- Xiaomi Plans to Spend About $7 Billion on Chip Design — Shares of Xiaomi has risen by more than 50% so far this year.
The Financial Times
- UK overtakes China as second-largest U.S. Treasury holder — Fall in recorded Chinese holdings highlights Beijing’s push to diversify its reserves away from America.
- China suspends chicken imports from Brazil due to detection of bird flu — South American nation had been the last big producer not affected by the outbreak.
- Global supply chains threatened by lack of Chinese rare earths — Licensing delays under new regime put at risk shipments of materials crucial for products from EVs to fighter jets.
- Swiss footwear upstart On bets big on China — Fast-growing trainer maker backed by Roger Federer joins brands taking global market share from Nike and Adidas.
- Hong Kong stocks outperform mainland China by most since 2008 — Worries about Chinese economy and enthusiasm for HK tech stocks drive record high flows into city from mainland.
- China industrial output growth slows as U.S. trade war bites — Retail sales miss forecasts after Donald Trump’s tariffs dent consumer confidence.
The New York Times
- Apple’s A.I. Ambitions for China Provoke Washington’s Resistance — The Trump administration and congressional officials have raised concerns about a deal to put a Chinese company’s artificial intelligence on iPhones.
- Opinion: In the Future, China Will Be Dominant. The U.S. Will Be Irrelevant. — Trump’s fixation on tariffs while he undermines America’s competitive strengths is hastening the onset of the “Chinese Century.” By Kyle Chan.
Caixin
- U.S.-China Call a Truce, But Global Trade Has Changed Forever — 90-day U.S.-China tariff suspension is met with relief, ‘but this is not a return to normal.
- GM China to Restructure Durant Guild Premium Unit as High Tariffs Persist — Move comes as a blow after Durant Guild president hailed 2025 as ‘Year of Delivery.’
- Xiaomi CEO Breaks Silence After Fatal SU7 Crash, Pledging to Make Safety a Top Priority — Xiaomi has yet to release any technical explanation for the SU7 accident in which three people died.
- Hong Kong Bids Farewell to Legendary Investor and Transparency Advocate — Independent investor and corporate governance advocate David Webb, now suffering from terminal cancer, has spent much of his life exposing hidden networks and fighting for minority shareholders in Asia’s financial hub.
- China’s Tax Collectors Target Global Investment Income — Tax residents trading foreign stocks or holding offshore accounts are being put on notice as authorities take fuller advantage of cross-border data to trace unreported earnings.
South China Morning Post
- China’s next-gen surveillance tools get AI boost to target Telegram and VPN users — Annual policing tech expo offers glimpse of law enforcement future as Beijing ramps up domestic security drive amid ‘lone wolf’ attacks.
- Stellantis relocating Chinese EV maker Leapmotor’s European production from Poland — Leapmotor says move is likely to drive up its European production costs by about 10 per cent, but it has no plans to raise prices.
- Hong Kong prepares for a grand homecoming as mainland firms face U.S. delisting threats — Delisting pressure on U.S.-listed companies from the mainland could be a jackpot for Hong Kong markets.
- China turns to PPPs as a ‘yellow brick road’ solution to fund big projects in Africa — Chinese companies will team up with African governments to fund infrastructure while reducing financial risk and easing debt pressure.
Nikkei Asia
- Nvidia to ship new AI chip for China next quarter, modified Blackwell later — Company says U.S. restrictions ‘shield’ Huawei from competition in key market.
- China-made solar parts under scrutiny after Spain-Portugal power cut — Huawei, a key inverter provider, kicked out of EU industry body amid bribery probe.
- Investors see no end in sight to China property slump — Housing inventories swell to 5 times annual sales as ‘zombie’ developers linger.
- China’s rare-earth gambit with Trump echoes Mao’s ‘protracted war’ — Global Times commentator hails tariff deal as ‘huge victory’ for Beijing.
- Chinese banks in a pinch as consumer loans fall despite lending push — Weak credit demand adds pressure on policymakers dealing with tariff uncertainty.
Bloomberg
- Trump’s Deals Cast China Both As Foe And Prize, Blurring Signals — Trump is seeking both to isolate China and to win greater access to its markets — and asking close trade partners to risk Beijing’s ire when the ultimate U.S. policy is itself unclear.
- Portugal’s Dueling Parties Both Want More Chinese Investments — Incumbent PSD and opposition Socialists face off on Sunday in a tight election race.
- CATL Shrugs Off U.S. Blacklisting for Blockbuster Hong Kong Debut — The listing gives global investors easier access to CATL.
- Chinese Luxury Carmaker Seres Comes From Behind to Overtake BMW — China’s luxury segment was seen as the last slice of the automotive market relatively insulated from the EV transition that’s left mass market foreign carmakers struggling to catch up.
Reuters
- Exclusive: Some Chinese companies eye Singapore listings to expand markets amid trade war — At least five companies from mainland China or Hong Kong are planning IPOs, dual listings, or share placements in Singapore in the next 12 to 18 months, four sources said.
- China’s factory output resists tariff impact, retail sales disappoint — Government support measures may have cushioned the impact of a trade war.
- The post-truce state of U.S.-China trade looks dire — Traders may be betting on a quick resolution, but that’s at odds with the dire situation on the ground.
Other Publications
- The Washington Post: China’s warplane combat debut over Kashmir riles tense geopolitics — Chinese officials are balancing nationalistic fervor and diplomatic restraint amid Pakistani claims that Chinese jets downed five Indian warplanes. And Washington is watching.
- The Washington Post: No booze, no flowers: Chinese officials told to tighten their belts — Beijing has issued new spending guidelines to government officials, telling them to live “a frugal life” as China faces economic headwinds.
- BBC: ‘You start to go crazy’: The Australian who survived five years in a Chinese prison — A former prisoner reveals the harsh conditions in Chinese jails.
- CFR: The (Somewhat) Mysterious Surge in China’s Current Account Surplus — China’s trade surplus is rising. China’s reported current account surplus is rising even faster.
