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
- China Is Tracking Down Its Rare-Earth Experts—and Taking Away Passports — Beijing asks companies for lists of specialists to keep tabs on them.
- China Is Still Choking Exports of Rare Earths Despite Pact With U.S. — Western companies are struggling to secure approvals for rare-earth imports from Chinese authorities, despite U.S.-China deal.
- A Weakened Iran Poses an Alliance Test for China, Russia and North Korea — The trio helped Iran build its nuclear program. But the U.S.’s entry into the conflict has raised the risk.
- Opinion: The Drug-Price Surrender to China — Trump’s most-favored-nation executive order would collapse the American pharmaceutical industry’s innovation edge. By Richard Burr.
The Financial Times
- US strikes on Iran force China to reconsider Trump’s isolationism — President’s willingness to use military force prompts rethink in Beijing over Taiwan
- The Hong Kong property developer rushing to refinance billions of dollars in loans — New World’s negotiations with banks come after years of ambitious debt-fuelled expansion
- Opinion: The return of China’s ‘Little Africa’ — Covid-19 threatened the decades-old community but the pull of Guangzhou’s trading hub has proved irresistible. By William Langley.
The New York Times
- How Trump’s Strike on Iran Might Affect China’s Calculus on Taiwan — By attacking Iran, President Trump has shown he is willing to engage in a distant war. This raises questions in Beijing about what he might risk for Taiwan.
Caixin
- China Opens First Offshore Gold Vault to Attract Global Investors — The move is intended to integrate China’s gold market into the global financial system.
- AI, Policy and Private Giants Drive Goldman’s China Optimism — Wall Street investment bank says China is ready to reclaim global flows.
- Price of Moutai Liquor Slides Below Critical Threshold — The booze is widely seen as a barometer of China’s luxury consumption and broader economic sentiment.
- Increasing Incomes Key to Boosting Domestic Demand, Professor Says — Beijing should roll out policies to create more jobs and ease major household outlays like education and housing, Lu Ming says.
- CNOOC Makes First Foray into Kazakhstan with Oil Exploration Deal — Estimates suggest the area being explored could contain more than 185 million tonnes of oil resources.
South China Morning Post
- China warned to watch for security threats as Israeli spies in Iran open ‘Pandora’s box’ — Having spies disable enemy radars and missile systems is ‘tactic belonging to a new form of warfare’ and a ‘wake-up call’, observer warns.
- Rare earths ‘THE thing’ for EU agenda planners ahead of China leaders’ summit — Chinese dominance of the global supply has leapfrogged into top place as the main issue in a troubled relationship.
- China-tied AI tools like DeepSeek face US federal ban over ‘threat’ to national security — Bipartisan bid would also prohibit American agencies from procuring or deploying such tech developed in Russia, Iran and North Korea.
- US lawmakers blast anti-China ‘conspiracy theories’ at ‘Enter the Dragon’ hearing — Republican Senator Ted Cruz tells Senate committee Beijing is ‘weaponising’ green energy philanthropy, to fury of Democrats.
- Opinion: Can US military adventurism outcompete China’s ‘long peace’ strategy? — As the US gambles on swift military might to advance its interests, China navigates a treacherous diplomatic landscape with hard choices. By Wenran Jiang.
Nikkei Asia
- Nagoya suspected as underground fentanyl hub connecting China, Mexico, US — Investigation by American authorities reveals existence of a boss in Japan.
- Asia sees a reboot of tech stock rally, from AI to chips — Investors bet on regional growth and lowered US-China tensions.
- China ride-hail app CaoCao raises $236m in Hong Kong debut — Geely-backed service seeks to challenge market leader Didi.
- UK’s ‘China Audit’ prizes trade over national security, critics say — Government stresses importance of business, economic growth and Chinese students.
- China antigraft crackdown targets rare-earth producing areas — Corruption blamed for pollution and smuggling of resources crucial in US trade talks.
Bloomberg
- The Waning Ambitions of China’s $1.3 Trillion Fund Giant — China Investment Corp. once bailed out Morgan Stanley. Now it’s being increasingly shut out of the US as the world’s two largest economies decouple.
- Chinese Toymaker Takes Drastic Action to Survive Trump’s Tariffs — A producer of toys for American children fights to remain central to the global supply chain despite efforts to cut China out.
- China Tech Firms Ramp Up M&A Deals With the Blessing of Beijing — After a chastening crackdown that wiped billions off their value and forced top executives out of the public eye, China’s technology giants are back in favor and on the front foot, making deals and snapping up assets.
- China’s Xiaomi to Launch First SUV as Shares Near Record High — The unveiling of Xiaomi Corp.’s first electric SUV on Thursday will showcase how the Chinese tech company has become an investor darling with its high-stakes bet on the auto market.
- Opinion: Labubu’s Biggest Threat Is Not Wakuku, or Lafufu — Pop Mart is doing a fragile dance with the toy’s resellers. By Shuli Ren.
Reuters
- China’s collateral demands curbing emerging countries’ ability to manage finances, study shows — China’s practice of securing its loans to low-income nations through commodity revenue streams and cash held in restricted escrow accounts is curbing their ability to manage their finances effectively.
- China AI chip firm Biren raises new funds, plans Hong Kong IPO, say sources — The funding round and IPO plan come as China seeks to develop domestic alternatives to U.S. semiconductors amid escalating export restrictions by Washington on advanced chips.
- China signs first Argentine soymeal deal under threat of US trade war disruptions — Several Chinese feed makers have jointly signed the deal to purchase 30,000 metric tons of Argentine soymeal for July shipment, four trade sources told Reuters on Thursday.
Other Publications
- AP: The top US diplomat in Hong Kong criticizes China and the city for curtailing freedoms — The top U.S. diplomat in Hong Kong has criticized policies by China and Hong Kong for eroding freedoms.
- CSIS: No Safe Harbor — Evaluating the Risk of China’s Port Projects in Latin America and the Caribbean.
- The Guardian: China breaks more records with surge in solar and wind power — Between January and May, China added 198 GW of solar and 46 GW of wind, enough to generate as much electricity as Indonesia or Turkey.
- The Guardian: The world wants China’s rare earth elements – what is life like in the city that produces them? — More than 80% of China’s rare earth reserves are located in Baotou, an industrial hub of 2.7 million people that abuts the Gobi desert.
