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
- Israel-Iran Conflict Spurs China to Reconsider Russian Gas Pipeline — The Power of Siberia 2 project has been stalled for years, but Beijing is growing concerned about the reliability of oil and gas from the Middle East.
The Financial Times
- China’s premier vows to ‘open its doors wider’ to trade and tech industry — ‘Globalisation will not be reversed,’ Li Qiang tells annual World Economic Forum event.
- China is working to undermine UK democracy, British government says — Long-awaited official report also recommends increasing trading links to boost economic growth.
- Trump signals sanctions relief for China to buy Iran’s oil — Potential policy U-turn comes hours after president declared peace in Middle East war.
- Opinion: Taiwan has upped the ante in the cold war over chips — Taipei blacklisting of leading Chinese tech groups including Huawei and SMIC comes as US weighs additional restrictions. By June Yoon.
The New York Times
- China Tightens Controls on Fentanyl but Calls It a U.S. Problem — Two chemicals used to make the powerful opioid will be more strictly regulated, but an official said it was “the United States’ responsibility to solve the issue.”
- US Rivals Like China and Russia See Opportunity in Voice of America Shutdown — The Trump administration is not just releasing its grip on the global megaphone but handing it off to its eager adversaries, foreign policy experts say.
Caixin
- China Shifts Toward Completed Home Sales to Curb Risks — While the shift could help revitalize some local markets, some worry it could worsen the financial strain facing already cash-strapped developers.
- Beijing Targets Judicial Misconduct With New Prosecutorial Unit — The department aims to tackle corruption within the legal system, putting a controversial detention practice known as ‘designated residential surveillance’ under further scrutiny.
- Belt and Road to Generate $1.6 Trillion in Annual Revenue by 2030, Official Says — Beijing’s ambitious infrastructure development initiative has been a catalyst for global economic growth by promoting the liberalization of trade and investments, NDRC deputy head Zhou Haibing says.
- Why AI Has Yet to Remake China’s Energy Sector — High costs, a shortage of talent, and persistent data security concerns are standing in the way of total transformation, industry experts say.
- China’s 60-Second Micro-Drama Apps Capture a Global Audience — China’s bite-sized video apps are sweeping the world, but marketing costs are hitting profits.
South China Morning Post
- From blacklist to backchannels: inside the European Parliament’s unlikely China reset — Correspondence obtained by the Post reveals President Roberta Metsola’s efforts to normalise ties with Beijing in recent months.
- US bunker-busting GBU-57 in Iran: experts in China assess combat debut — How does the powerful missile compare to the Chinese military’s arsenal of similar penetrating bombs?
- China-led study proposes global green-energy network to solve power crisis — Researchers evaluate global solar-wind potential to develop a phased pathway to a fully coordinated system by the 2050s.
- Zelensky tells Nato Chinese companies are among Russia’s suppliers aiding war on Ukraine — Calling conflict ‘crucial’ to European security, he seeks alliance’s help to ‘break every link that connects Russia with its accomplices’.
- ‘Summer Davos’ panel mulls secret sauce of US economy – did China crack the recipe? — At World Economic Forum event, the US-China rivalry is all the buzz.
Nikkei Asia
- How red tape amplified China’s rare earth disruptions — Export curbs brought more paperwork and delays than expected, industry says.
- China premier pledges to make country a ‘consumption powerhouse’ — Despite deflationary pressure, Li Qiang assures ‘Summer Davos’ on growth.
- Taliban cancel oilfield deal with Chinese in Afghanistan’s north — Kabul regime terminates first major investment project due to slow progress.
- China reaches for insurance as last piece to EV dominance — BYD, other Chinese players have access to vast troves of data for tailored policies.
- Japan teams with NATO to counter China, Russia cyber threats — Tokyo joins information-sharing framework focused on malware uses and technology.
Bloomberg
- EU Wants China to Fix Rare Earths Issue Before July Summit — The European Union wants China to resolve the export issue around rare earth magnets before a meeting of their leaders next month, according to the bloc’s top envoy to Beijing.
- Japan Protests New Chinese Construction in East China Sea — China has stepped up construction of drilling rigs and other platforms off its east coast to tap into maritime resources such as natural gas and fish, raising the ire of Japan and South Korea and fanning fresh concerns about Beijing’s regional ambitions.
- China Tells Brazil Xi Jinping Will Miss BRICS Summit in Rio — President Xi Jinping will miss a meeting of BRICS leaders in Rio de Janeiro, according to a Brazilian official familiar with the matter, marking the first time the Chinese leader has skipped the summit since taking power.
- Opinion: China’s Only Iran Option Is a Low Profile — Beijing’s restrained response exposes the limits of its global influence. By Karishma Vaswani.
Reuters
- BYD slows production, delays capacity expansion at China factories, sources say — The decisions are a sign that BYD’s robust sales growth over the past couple of years that drove it to overtake Tesla as the world’s largest EV maker could slow.
- China, Taiwan clash over history, Beijing says can’t ‘invade’ what is already its territory — Lai has given two speeches in what will be a series of ten on “uniting the country”, saying that Taiwan is “of course a country” and China has no legal or historical right to claim it.
- Made-in-China planes face bumpy flight abroad — To date, manufacturer Comac has built less than two dozen C919s, and it is hoping to ramp up annual production to 200 by 2029. Still, that would be less than a third of Airbus’ output last year.
Other Publications
- The Washington Post: Chinese association accused of mixing crime and patriotism as it serves Beijing — Investigators in countries across the Global South are observing a growing nexus between Chinese authorities and Chinese criminal groups.
- The Washington Post: With much to lose, China sat on Israel-Iran war’s sidelines as U.S. flexed — China, heavily dependent on Middle East oil, has tried to cast itself as a peacemaker. But in the Israel-Iran war, Washington emerged as the real power broker.
- The Guardian: Chinese carmaker Chery Auto ‘actively considering’ building UK factory — As company faces increased UK and EU tariffs, it says move would be part of ‘localisation’ strategy.
- ProPublica: How Foreign Scammers Use U.S. Banks to Fleece Americans — Chinese-language Telegram channels offer to rent U.S. bank accounts to pig-butchering scammers, who use the accounts to move victims’ cash into crypto.
