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
- Trade With China Is Becoming a One-Way Street — Trump is trying to further open up China’s market to U.S. companies as Beijing’s appetite for the rest of the world’s exports is diminishing.
- Chinese Spenders Open Wallets as Factories Slow — Trade uncertainty and real estate weigh on industrial growth as consumers improve consumption.
- China’s May Data Paints Mixed Picture as U.S. Trade Tensions Linger — Retail sales rose 6.4% in May, while industrial production increased 5.8%.
- How Trump’s Military Parade Compares to China, Russia and North Korea — The U.S. event doesn’t feature the hardware or troop presence of similar festivities held by other countries.
- Opinion: The U.S. Can Rise to the Chinese Challenge — Since the end of the Cold War, America has let its nonmilitary instruments of power atrophy. Trump has a chance to revive them. By Robert M. Gates.
The Financial Times
- Corporate bond defaults disappear from China’s onshore market — Systemic risk prioritised over international norms as country returns to zero failure era.
- China retail sales jump while industrial growth slows on trade war turmoil — Strong consumer spending provides ‘bright spot’ for economy grappling with higher U.S. tariffs.
- Opinion: The myth of the suppressed Chinese consumer — In reality, the country has the fastest household spending growth rate of the 21st century. By Ruchir Sharma.
The New York Times
- Andrew Cuomo’s Campaign Adviser Led Chinese State Oil Company — Larry He, who served as Mr. Cuomo’s Asian outreach director, held senior posts at a multibillion-dollar firm owned by China but omitted the experience from his résumé.
- Can Labubu, This Ugly Elf, Make China Cool? — China has long struggled to improve its image, especially in the West. It may be scoring some victories now.
- Opinion: China Revoked My Visa, and Came to Regret It — Canceling the visas of Chinese students in the United States is a horrible idea. By James A. Millward.
Caixin
- China’s Biotech Sector is Enjoying a ‘DeepSeek Moment’ With a Wave of Multibillion-Dollar Drug Deals — A flurry of deals marks China’s emergence as a leading force in the innovative drug sector.
- How China’s Renewables Can Meet Electricity Demand — Renewables have been adding to rather than replacing coal power capacity. A mandatory green power consumption policy could change this.
- New U.S. Tariffs Mean Tough Times Ahead for Appliance-Makers — Chinese exporters bracing for higher costs and uncertain demand after Washington’s latest trade salvo.
South China Morning Post
- Why China’s officials are braced for another round of performance inspections — Several provinces have been sending teams of ‘performance observers’ as part of a wider crackdown on wasteful spending.
- Gen Z’s ‘emotional consumption’ fuels surge in consumer stocks like Pop Mart — Shares of Pop Mart, the Chinese toymaker that owns Labubu, have surged almost 600 per cent over the past year in Hong Kong.
- Cairo calling: why Chinese factories are moving to Egypt amid the trade war — A growing number of Chinese manufacturers are shifting production to Egypt as they seek relief from U.S. tariffs on China and Southeast Asia.
- Why Chinese firms building foreign factories are no longer focused on U.S. market — Countries like Brazil, Serbia, Hungary and Saudi Arabia have become top choices for Chinese companies looking to explore other markets.
Nikkei Asia
- AIIB whistleblower sees China ‘doubling down’ on party control — Two years after he quit, Bob Pickard insists his allegations were not ‘baseless.’
- BYD to face cost pressure as Beijing pushes quick supplier payments — Effort to boost cash flow at small businesses may hurt big companies’ growth.
- China rare-earth controls loom over Japan, U.S. car production — Alternatives from other countries too pricey for automakers.
- China’s ‘silver economy’ heats up as government boosts subsidies — Companies bet on growing demand for home renovation, senior-friendly gadgets.
- China’s Chengdu turns to nighttime consumption to boost local economy — Cruises, street-side shopping and ‘hot-pot parks’ aim to stoke spending.
Bloomberg
- China’s Biotech Moment Ignites a 60% Stock Rally That Beats AI — The surge in China-listed biotech firms is further evidence that the mainland is becoming a center for global innovation.
- China Reviews Impact of U.S. Data Curbs Due to Trump’s Budget Cuts — Several Chinese ministries and bodies have in recent weeks started assessing potential disruption to their work.
- Xi Takes Push for Global Sway to Central Asia With Kazakh Visit — The summit in the Kazakh capital Astana is taking place in parallel to the G7 event in Canada.
Reuters
- Exclusive: U.S.-China trade truce leaves military-use rare earth issue unresolved, sources say — Beijing has not committed to grant export clearance for some specialized rare-earth magnets that U.S. military suppliers need for fighter jets and missile systems, sources said.
- U.S. pharma bets big on China to snap up potential blockbuster drugs — Through June, U.S. drugmakers have signed 14 deals potentially worth $18.3 billion to license drugs from China-based companies.
- U.S. pushes Vietnam to decouple from Chinese tech, sources say — The ultimate objective is to speed up U.S. decoupling from Chinese high-tech while increasing Vietnam’s industrial capacity, a source said.
- China sells coking coal to Indonesia in rare trade, sources say — The exports encroach on a market typically dominated by supplies from Australia and Indonesia.
Other Publications
- The Economist: Can China reclaim its IPO crown? — Hong Kong is hot. The mainland very much is not.
- The Information: Tencent Not Considering Nexon Acquisition — The idea of acquiring Nexon wouldn’t fit into Tencent’s strategy as its priority is investing in artificial intelligence, a source said.
