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
- Volvo Sells Stake in Chinese Construction Equipment Maker for $833 Million — The Swedish company agreed to sell its 70% stake in Shandong Lingong Construction Machinery Co to minority shareholder Lingong Group.
The Financial Times
- China has influence over ports across Latin America, US think-tank reports — CSIS research highlights concerns in Washington over extent of Chinese companies’ involvement in regional infrastructure.
- ‘Tiger-fighting’ anti-graft official takes helm at China-backed AIIB — Former anti-corruption official Zou Jiayi will lead Beijing’s answer to the World Bank.
The New York Times
- China Calls Them Fish Farms. South Korea Fears They Have Another Use. — China has installed large steel cages and a former oil drilling rig in the Yellow Sea, raising concerns in South Korea that they could be used for military purposes.
Caixin
- What’s Behind Yuan’s Stalling Global Ascent — Surging use of China’s CIPS system that bypasses SWIFT’s international messaging network may be distorting the true picture of the yuan’s ranking in global payments.
- Korean, Japanese Battery-Makers Launch Legal Offensive Against Chinese Rivals’ Global Ambitions — Tulip Innovation, jointly established by LG Energy Solution Ltd. and Panasonic Energy Co. Ltd., announced that it had obtained injunctions in Germany against several subsidiaries of Chinese battery-maker Sunwoda Electronic Co. Ltd.
- Opinion: Why Rare Earths Could Be a Rare Bridge in U.S.-China Relations — As tensions between China and the West intensify, rare earths are emerging as a strategic resource that encourages communication over confrontation. By Liu Tianyi.
South China Morning Post
- China’s Chongqing rises as global rail hub linking Asean, EU amid trade war risks — The metropolis is already a rail-powered gateway to foreign markets – now, it wants to go one step further.
- In light of US sanctions, China unveils first parallel optical computing chip, ‘Meteor-1’ — ‘Optical computing … can meet AI’s ever-growing computational demands and unleash a wave of new applications’: Professor Xie Peng.
- Beijing’s ‘massive’ build-up raises threat of Taiwan Strait conflict: Nato chief — Its enlarged military presence could draw in Russia and thus European forces into the fray, secretary general warns ahead of summit.
- China’s fighter jets line up at the Paris Air Show. Can they win over Europe? — Defence budgets are growing on the continent but military purchases are not just about price and performance, analysts say.
- Opinion: Is China a just society? Economic woes erode public perception of fairness — The case of Chinese actress Nashi, who was found to have used subterfuge to get ahead in her studies, touched a raw nerve on the mainland. By Zhou Xin.
Nikkei Asia
- Chipmaker Melexis bets on Malaysia’s ‘neutrality’ to power China growth — Building parallel supply chains in China and Malaysia to hedge geopolitical risk.
- Singapore seeks stronger China ties amid uncertainty over Trump tariffs — PM Wong calls for ‘new frontier for cooperation’ with Beijing.
- Chinese drone parts prices surge on export curbs, tripling for US buyers — Beijing seen leveraging components as economic bargaining chip with Washington.
- Yuan’s quiet sell-off seen helping grow exports beyond US — Exchange rate holds steady against dollar while falling vs most other currencies.
Bloomberg
- China on Cusp of Seeing Over 100 DeepSeeks, Ex-Top Official Says — China’s advantages in developing AI are about to unleash a wave of innovation that will generate more than 100 DeepSeek-like breakthroughs in the coming months, according to a former top official.
- Starbucks Denies Plans of Full China Sale as Business Stalls — Starbucks Corp. said it’s not currently considering a full sale of its China business, disputing a report from Caixin Global that had sent the shares higher in late trading, as the coffee giant battles cheaper local rivals in its second-biggest market.
- Opinion: China Is More Than Ready for US Stablecoins — E-commerce prowess and Hong Kong’s financial chops can ward off the threat from digital dollars. By Andy Mukherjee.
Reuters
- Local Chinese governments promote ‘zero-mileage’ used car exports, inflating sales, growth figures — The practice only gained national attention after the boss of Chinese automaker Great Wall Motor criticized the sale of zero-mileage used cars within China in May.
Other Publications
- Foreign Affairs: Southeast Asia Is Starting to Choose — Why the Region Is Leaning Toward China.
- Foreign Affairs: How China Wins — Beijing’s Advantages in a Revisionist Order.
- Foreign Policy: Don’t Count on China Bailing Out Iran — Beijing cares more about the Gulf states than Tehran’s future.
- Beyond Parallel: Chinese Platforms in the Yellow Sea’s South Korea-China PMZ — Satellite imagery and AIS data analysis provide the first comprehensive timeline on the Chinese structures in the South Korea-China Provisional Measures Zone.
- MIT Technology Review: A Chinese firm has just launched a constantly changing set of AI benchmarks — Venture capital company HongShan Capital Group originally developed it to assess its potential investments. Now it’s opening it up for anyone to use.
- The Guardian: Aukus vital to ‘deter Chinese aggression’, say US lawmakers, as Trump urged to recommit to submarine deal — Alliance in best interests of Australia, UK and US, say lawmakers, after Trump administration announced 30-day review of pact.
- The Economist: It’s not just Labubu dolls. Chinese brands are booming — They are winning customers at home and abroad.
