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
- Senators Bash Nvidia’s Plans for Facility in China — Lawmakers accuse chip maker of undercutting national security.
- Nvidia’s Business Is Booming Despite Being Shut Out of China — The AI chip maker’s shares rose more than 5% after hours as quarterly revenue surged to a record $44 billion.
- Opinion: The Case for Exporting American AI — Biden’s restrictive policy left allies with little choice but to turn to China. By Aaron Ginn.
The Financial Times
- China vows to open markets to Pacific Island nations as US retreats — Trump’s cuts in foreign aid and global tariffs have created opportunity for Beijing.
- Trump orders US chip software suppliers to stop selling to China — Move by Washington is latest effort to stymie geopolitical rival’s technological advance.
- China courts Asian and Gulf partners at ‘inflection point’ for global trade — Beijing’s message at Asean gathering resonates with nations reliant on exports.
- Nvidia quarterly revenue surges nearly 70% despite China curbs — US chipmaker’s share price rises even as it takes $4.5bn charge linked to restrictions on sales.
- Shein shifts focus from London to Hong Kong for listing — Fast-fashion group has been hit by US tariffs while flotation has also faced regulatory challenges over risk factors.
- Prague blames Beijing for cyber attack on foreign ministry — Czech government says ‘malicious’ assault mounted by group linked to China’s state security ministry.
- Opinion: Data centres remain troublingly reliant on Chinese lithium — There is precedent for using critical materials as geopolitical leverage. By Lex.
The New York Times
- Export Controls Are Endangering the Fragile U.S.-China Truce — Just two-and-a-half weeks after agreeing to suspend tariffs, both countries are using export controls to disrupt each other’s key industries.
- How China Uses Work to Reshape Uyghur Identity and Control a Strategic Region — State labor programs were aimed at lifting one of the nation’s poorest regions out of poverty, but they have also served as a tool to erode resistance to Chinese rule.
- Uyghur Workers Are Moved to Factories Across China to Supply Global Brands — China’s persecution of Uyghurs prompted the U.S. to ban Xinjiang imports. China found a way around it — by shipping more Uyghurs across the country.
- ‘They Make People Too Scared’: Chinese Students Reckon With U.S. Visa Bans — Helplessness and frustration are setting in as student applicants in China wait to see how sweeping the new U.S. action might be.
- U.S. Will ‘Aggressively’ Revoke Visas of Chinese Students, Rubio Says — Secretary of State Marco Rubio said the students who will have their visas canceled include people with ties to the Chinese Communist Party and those studying in “critical fields.”
- U.S. Pauses Exports of Airplane and Semiconductor Technology to China — President Trump has stopped some critical products and technologies made only in the United States from flowing to China, flexing the government’s power over global supply chains.
- Nvidia Earnings: Revenue Tops $44 Billion Despite Sales Limits to China — The company continued to grow fast in its most recent quarter despite new rules restricting the sale of A.I chips to China.
- China Launches Tianwen-2 Mission to Capture Pieces of Near-Earth Asteroid — The robotic Tianwen-2 spacecraft will collect samples from Kamoʻoalewa, which some scientists suspect is a fragment of the moon.
Caixin
- Cathay Capital Closes $1 Billion AI Fund, Largest of Its Kind in EU History — The fund aims to accelerate industry-specific applications across healthcare, fintech, mobility and energy in China, Southeast Asia, Europe and North America.
- China’s Recent Covid Surge Has Slowed, CDC Says — China’s nationwide Covid-19 rise, which has been on an moderate upward trend for nearly two months, is now slowing, with most provinces having peaked or showing a decline in cases.
- Opinion: Why Real Estate Is Still So Important to China’s Economy — Although consumption and tech innovation are still China’s policy priorities, stabilizing the slumping real estate market remains crucial. By Wu Ge.
South China Morning Post
- As US pressure mounts, China’s top party journal doubles down on long-haul preparations — Qiushi Journal calls for telling the story of China’s economic certainty amid external pressures and a raft of risks facing the country.
- Temu, Pinduoduo owner PDD faces profit challenge amid Trump tariffs, domestic competition — ‘Macroeconomic uncertainties and significant investments in the ecosystem’ are expected to continue affecting PDD’s earnings outlook, analysts say.
- Humanoid robots are leading the charge into ‘intelligent warfare’ — China’s civilian robotics sector is powering advantages on battlefield, combining tactical flexibility and strategic deterrence, military mouthpiece says.
- China pledges boost to law enforcement cooperation with Pacific Island nations — In high-level talks in Beijing with 11 states, Chinese Foreign Minister Wang Yi offers closer collaboration on trade, climate, security.
- More cards to play: scholar sees Trump moving beyond tariffs as tactic with China — ‘If negotiations on the fentanyl issue can get under way … there’s real hope that the US will remove the 20 per cent tariffs’.
Nikkei Asia
- Xi Jinping resuscitates Hu Jintao’s parting words — Why is China’s leader suddenly stressing ‘scientific’ and ‘democratic’ policymaking?
- Discount coffee, hotels thrive in China’s penny-pinching economy — Businesses offering bargains come out ahead of high-end peers in Q1 earnings.
- US wins if DeepSeek runs on American AI chips, Nvidia CEO says — Trump export controls expected to deliver $8bn loss in H20 chip revenue in Q2.
- Uyghurs welcome Turkey’s crackdown on Chinese spy ring — 7 China nationals arrested, accused of cyberespionage against diaspora.
- China’s ‘colonial boarding schools’ erode Tibetan identity, report says — ‘Rightful’ Panchen Lama now missing for over 30 years as Beijing denies allegations.
Bloomberg
- China Cut Drone Sales to West But Supplies Them to Russia, Ukraine Says — Ukrainian President Volodymyr Zelenskiy said China has stopped selling drones to Kyiv and other European nations while continuing shipments to Russia.
- China Defense Minister Skips Singapore Forum Attended by Hegseth — China indicated it will not send its top military diplomat to a key defense forum in Asia for the first time since 2019, preventing a potential first encounter with Defense Secretary Pete Hegseth.
- Opinion: The AI Job Suck Is the China Shock of Today — Big economic changes tend to leave some Americans behind. The Trump administration needs to look forward rather than focus on the past. By Jonathan Levin.
Reuters
- China flexes military muscle with East Asian naval activity — Since early May, China deployed fleets larger than usual, including navy, coast guard and other ships near Taiwan, the southern Japanese islands and the East and South China Seas.
- US curbs chip design software, chemicals, other shipments to China — The new restrictions — likely to escalate tensions with Beijing — appear aimed at choke points to prevent China from getting products necessary for key sectors, one of the people said.
- Chinese robotaxi makers head to a welcoming Gulf as overseas ambitions grow — WeRide said this week it would be expanding into Saudi Arabia, where it has been testing its vehicles, adding that it expects commercial services to start in late 2025.
Other Publications
- CFR: India is Losing South Asia to China — China is gaining strategic influence over India in South Asia.
- The Economist: How might China win the future? Ask Google’s AI — The country’s sprawling industrial policy is beyond mere human comprehension.
- The Information: China’s Answer to Vibe Coding — A six-month old Chinese startup has jumped into the market for coding assistants aimed at amateurs, hoping to make a global splash the way Chinese firms DeepSeek and Manus did.
