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.
Paid subscribers automatically have this list emailed directly to their inboxes every day by 10 a.m. EST. Subscribe here.
The Wall Street Journal
- China’s New Trade Negotiator Is Ready to Play Hardball — He Lifeng, Beijing’s economic gatekeeper, has a clear mandate from Xi Jinping: China won’t be catering to the U.S.
- Chinese Robotaxi Companies Look to the Middle East for Growth — China-U.S. trade tensions provide Chinese companies with further incentive to seek alternative markets.
- China’s Manufacturing Activity Tumbles Into Contraction as Orders Drop — The Caixin manufacturing purchasing managers index slid to 48.3 in May.
The Financial Times
- Cash-strapped Beijing drinkers turn to unlicensed homebars — Spread of illicit speakeasies underlines weak consumption in world’s second-largest economy.
- Liverpool university’s China JV has links to sanctioned entities, report says — Think-tank highlights how Xi’an Jiaotong-Liverpool University has come under scrutiny by the U.S. and EU.
- EU restricts Chinese medical devices in new trade dispute — Bloc votes to exclude trading superpower’s bidders from contracts worth more than €5mn for next 5 years.
- Xiaomi among Chinese tech groups set to be hardest hit by U.S. chip software ban — Companies may struggle to manufacture silicon in Taiwan with export controls preventing updates to design tools.
- Opinion: The great Trump riddle on China — No one knows what the US president’s desired endgame with Beijing really is. By Edward Luce.
The New York Times
- What We Can Learn About Xi’s Rule by Studying His Father’s Life — Xi Zhongxun was purged by the Communist Party he served and went on to help reform Chinese politics. His son is the most authoritarian leader since Mao.
Caixin
- Investors Warn Developing Humanoid Robots Will Be a Marathon, Not a Sprint — Most companies don’t yet have a viable business model, and widespread adoption is likely years away, observers say.
- U.S. Export Curbs Threaten China’s Homegrown Jet Ambitions — Commerce Department suspends licenses that allow American companies to sell products and technology to Comac, the maker of the highly touted C919 aircraft.
- Huawei’s EV Strategy Falters as Xiaomi Gains Ground in China — Huawei’s auto partnership model is struggling to replicate the success of its Aito brand as its rival’s simpler approach pays off.
South China Morning Post
- ‘Full of gunpowder’: new price wars among China carmakers mask hidden dangers, Beijing warns — A barrage of official condemnation over ‘involuted’ auto sector comes after major industry players offered big discounts amid overcapacity concerns.
- U.S. steps up contest with China in Africa by focusing on ambassadors’ business deals — New U.S. commercial diplomacy strategy incorporates Trump administration’s ‘trade, not aid’ approach.
Nikkei Asia
- Japan machine tool maker Kitamura launches Chinese sales arm — New unit targets chip and medical device makers with micron-precise processing.
- China EV war turns uglier as pricing and inventory tactics draw scrutiny — Execs trade barbs while Beijing asks BYD and others about ‘zero-mileage used cars.’
- Marubeni signs ‘green ammonia’ deal with China’s Envision Energy — Japanese trading house aims to lead supply of gas critical to decarbonization.
Bloomberg
- China’s Rare Earths Grip Gives Xi Leverage in U.S. Trade Duel — The dispute has the potential to endanger the fragile trade truce between Washington and Beijing.
Reuters
- Hong Kong leader says sudden removal of China’s top official in the city was “normal” — Zheng Yanxiong was partly blamed for Chinese leaders being caught “by surprise” by CK Hutchison-Blackrock deal for Panama ports, a source said.
Other Publications
- The Information: How Alibaba Helped China Take the Lead From the U.S. in Open-Source AI — Chinese tech giants like Alibaba could reshape the global AI software ecosystem if more developers around the world use Chinese open-source models.
- The New Yorker: The Uncertain Future of a Chinese Student at Harvard — Amid escalating threats from the Trump Administration, a student assesses whom he can turn to.
- Foreign Policy: International Hotel Giants Are Profiting Despite Genocide in Xinjiang — Rather than reducing their exposure to the region, companies are on a building spree.
