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
- A Toy Maker Sued Trump Over Tariffs and Won. Its Operations Are Still in Tatters. — CEO Rick Woldenberg is moving equipment out of China and saying that ‘no one’s going to save me’.
- Chinese Stocks and American Exchanges Head for a Breakup — A delisting push adds to the unraveling of Wall Street’s love affair with China Inc.
- U.S. Prepares Action Targeting Allies’ Chip Plants in China — Move isn’t meant to escalate trade tensions, White House officials say.
- Alibaba Folds Food Delivery, Online Travel Services Into Core E-Commerce Unit — The reorganization underscores the growing strategic importance of on-demand delivery for China’s retail players.
The Financial Times
- Taiwan launches unity drive as China threat looms — President Lai Ching-te makes push as his party campaigns to reclaim control of parliament.
- Chinese factories rush to reduce reliance on Donald Trump’s US — Companies in major exporting province of Zhejiang look to other markets or to sell at home.
- Taiwan recall votes threaten to upend opposition grip on parliament — Possible removal of up to 24 KMT legislators could open way for ruling DPP to strengthen defences against China.
- Opinion: China needs to take a long-term view and let the renminbi rise — Appreciation would suit Beijing’s global ambitions for the currency. By Gerard Lyons.
- Opinion: Macau’s casino shakeout could leave gaming giants stronger — The closure of side-street gambling halls could well benefit the major licensed operators. By Lex.
The New York Times
- ‘The Better Life Is Out of Reach’: The Chinese Dream Is Slipping Away — Promised a path to prosperity through hard work and education, China’s working class youths are hitting immovable ceilings.
- China Says the U.S. Damaged Its Own Credibility by Striking Iran — The rhetoric belies a more complicated reality, as Beijing has been one of Tehran’s biggest backers.
- Opinion: Can We See Our Future in China’s Cameras? — Promises of safety and convenience belie the machinery of political abuse. By Megan K. Stack.
Caixin
- Alibaba Fights Tencent for Dominance Over AI in China — Both companies are eager to seize opportunities presented by the latest wave of artificial intelligence (AI) advancements and the widespread adoption of large language models.
- Mainland, Hong Kong Launch Real-Time Cross-Border Payment Link — The service, backed by a dozen banks, will be free initially as fees are waived to encourage uptake.
- Huawei’s HarmonyOS Hits 8 Million Developers in Ecosystem Independence Drive — Chinese tech giant passes milestone in push to rival Google’s Android and Apple’s iOS.
- EHang Switches Battery Suppliers to Keep Its Flagship Flying Car in the Air Longer — The Chinese company says it will use a Gotion power cell with higher energy density and greater power output as it prepares to bring its EH216 electric vertical takeoff and landing aircraft to market.
- AI Boosts Early Detection Rate for a Particularly Deadly Cancer — Novel system for analyzing common CT scans aims to lift pancreatic cancer’s dire five-year survival rates from under 10% to potentially 40%.
South China Morning Post
- Why more young Chinese have military academies in their sights — High youth unemployment rate, a rise in patriotism, and incentives like subsidised tuition fees are fuelling interest in the PLA.
- China hits out at US and Israel, calls for de-escalation of conflict with Iran — Chinese ambassador tells emergency UN Security Council meeting that Washington has violated Iranian sovereignty and ‘exacerbated tensions’.
- The growing risks for Chinese companies in conflict-ridden African nations — Chinese firms admit their very survival could be threatened by geopolitical risks, unrest and security threats in unstable African countries.
- Texas governor signs bill banning Chinese citizens from buying property in the state — The initiative allows those who hold valid US visas to purchase property, but only if the property is used as a primary residence.
- Opinion: Can the US and China forge a rivalry of convenience? — Despite areas of divergence, both governments have policy visions that could complement each other’s diplomatic and trade goals. By Yukon Huang.
Nikkei Asia
- China pushes cease-fire at UN as Asia echoes call to end Iran war — Reactions to US strikes on nuclear facilities range from concern to condemnation.
- Sri Lanka car market tilts toward EVs with BYD, other Chinese leading — Island’s automobile industry awakes after 5-year hiatus with China entrants.
- Why Asia stands to lose if Iran chokes off Strait of Hormuz — Region receives 80% of the crude oil and LNG transiting through the waterway.
Bloomberg
- China Tightens Fentanyl Controls in Goodwill Gesture to Trump — China moved to tighten controls over two chemicals that can be used to make fentanyl, in an apparent olive branch to the US that may help maintain their fragile trade truce.
- China Solar Additions Surge to Record in May Ahead of Deadline — The country installed 93 gigawatts of panels last month, according to data released by the National Energy Administration, four times more than in the same period in 2024.
- Chinese Makeup Brands Are Winning Over Global Consumers — TikTok’s brief shutdown in January pushed users to RedNote and other Chinese social media platforms, exposing them to brands like Florasis and Judydoll.
- Honda Supplier Rethinks China Relationship as Trade War Bites — As the US-China trade war expands into the auto, steel and rare earths sectors, few companies are feeling the pressure more than top Japanese car parts supplier Daido Steel Co.
- Chinese Biotech Showcases Challenger to Eli Lilly’s Obesity Drug — An obesity drug from China helped patients lose a lot of weight in a late-stage clinical trial, making it a prospective new challenger to blockbusters from Novo Nordisk A/S and Eli Lilly & Co.
Reuters
- DeepSeek aids China’s military and evaded export controls, US official says — The Chinese tech startup sought to use Southeast Asian shell companies to access high-end semiconductors that cannot be shipped to China under U.S. rules.
- How middlemen funnel illegal Chinese vapes into the United States — From an office a 15-minute drive from Chicago’s O’Hare International Airport, one small firm helped import millions of unauthorized Chinese-made vapes last year alone, forming a key link in the supply chain feeding U.S. demand for illegal e-cigarettes.
- US may target Samsung, Hynix, TSMC operations in China, sources say — The chances of the United States withdrawing the authorizations are unclear. But with such a move, it would be harder for foreign chipmakers to operate in China, where they produce semiconductors used in a wide range of industries.
Other Publications
- Foreign Affairs: Xi Jinping’s Costly Inheritance — How His Father’s Travails Defined China’s Leader—and the Country He Rules.
- Rest of World: TikTok Shop battles Shein and Temu in Latin America’s e-commerce race — The platform recently launched in Mexico and Brazil, where its fast fashion Chinese rivals already have a stronghold.
- BBC: How China made electric vehicles mainstream — At the beginning of the century, China’s leadership laid out plans to dominate the technologies of the future. Once a nation of bicycles China is now the world’s leader in EVs.
- The Washington Post: U.S. races to develop alternatives to China’s rare earth materials — Oklahoma plant signals progress, perils in building domestic supply chain.
- The Washington Post: Opinion: A carbon tariff is the right way to confront China on trade — Climate-friendly tariffs would penalize countries that undercut American companies with dirtier production. By Ely Sandler and Daniel Schrag.
