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
- One American’s Two-Year Quest to Move His Business Out of China — Trump’s first-term tariffs were a wake-up call for Ryan Bursky’s company. Now, he’s working with his Chinese suppliers to move everything to Cambodia.
- Hong Kong on Track to Reclaim Global IPO Crown — The city has a key role in China’s efforts to breathe life back into capital markets.
- China PMI Signals Continued Decline in Manufacturing — The official manufacturing purchasing managers index for June came in at 49.7.
- China Steals Language and Home Life From Tibetan Kids as Young as 4 — Beijing is building a broad network of preschools across Tibetan areas, seeking to inculcate loyalty to the Chinese Communist Party early in life.
- Taiwan Looks to New Sea-Drone Tech to Repel China — Island tries to launch an industry and build an arsenal to confront the threat from Beijing.
The Financial Times
- China’s manufacturing activity shrinks for third straight month — Factory contraction highlights pressure on policymakers to boost domestic demand amid trade war.
- China’s tighter export controls squeeze wider range of rare earths — Additional customs inspections cause long delays that threaten to disrupt global supply chains.
- US shoppers ditch Shein and Temu as Trump closes tax loophole — Once ascendant online retailers are shifting focus to Europe as US-China trade dispute takes a heavy toll.
- The vulnerabilities holding back Chinese industry — Despite its prowess, China has not been able to overcome dozens of ‘choke points’ that are the essential building blocks of modern manufacturing.
- The Asian factories on the frontline of Trump’s tariffs — Textile producers, electronics manufacturers and car suppliers are among those trying to make sense of a market in turmoil.
- Opinion: Hong Kong IPO boom challenges the city’s critics — Asian financial hub bounces back to secure $13bn in new listings this year. By Lex.
The New York Times
- Taiwan’s President Takes on China, and His Opponents, in Speaking Tour — Lai Ching-te is ramping up his warnings about China’s threat to Taiwan. Critics say he is stoking divisions, and risking blowback from Beijing.
- There’s a Race to Power the Future. China Is Pulling Away. — Beijing is selling clean energy to the world, Washington is pushing oil and gas. Both are driven by national security.
- Drifting From the West’s Orbit, Russians Find a New Role Model in China — China has become trendy for Russians who once worshiped everything Western. Young people are learning Mandarin, and Chinese culture and goods have become ubiquitous in Moscow.
- Trump’s Tariffs May Push This American Company to Move Jobs to China — The experience of a company in the textile business illustrates how the trade war could force some industries to shift production out of the United States.
- Chinese Police Detain Dozens of Writers Over Gay Erotic Online Novels — The genre known as Boys’ Love, stories written mostly by and for straight women, has been in the authorities’ sights for years.
Caixin
- The Rise and Fall of China’s ‘Fentanyl King’ in Corruption-Fueled Bankruptcy — Dangdai founder Ai vows rebound as empire leaves investors, creditors underwater.
- Nike to Cut China Footwear Output to Counter $1 Billion Tariff Hit — Nike boss says it is time to turn a new page as he unveils a new strategy to revitalize brand.
- How Labubu Proved Pop Mart Right — The frenzy has transformed its owner, Pop Mart International Group Ltd. into one of the world’s most valuable intellectual property firms.
South China Morning Post
- China steps up deep-sea science role with UN-backed oceans exploration project — Ocean Decade endorsement for Chinese-led initiative ‘reflects’ increasing leadership role in specialised marine field.
- Ghana at loggerheads with China over rampant illegal gold mining — Ambassador to Ghana denies Chinese nationals are solely to blame for ‘galamsey’, branding the accusations a ‘significant injustice’.
- History tells us US-China ties will survive current rupture: Neysun Mahboubi — The leading academic finds grounds for ‘moderate optimism’ after leading a group of American students on a 10-day tour of China.
- Top OpenAI talent from China joins Meta as Zuckerberg bolsters AI team in tech battle — The recruitment highlights the rising global recognition of Chinese talent in AI development.
- Opinion: Why India’s real estate surge doesn’t make it a substitute for China — India’s property sector is booming, but China’s plays a more important role in Asia and is supported by better fundamentals. By Nicholas Spiro.
Nikkei Asia
- Cheng Lei rediscovers her voice after ‘cruelty’ of Chinese detention — Australian journalist’s memoir chronicles both brutal conditions and acts of kindness.
- Trump envisions China trip with dozens of CEOs — US switches from policy of escalation to a managed de-risking over time.
- Chinese publishing thrives in Tokyo as Hong Kong freedom narrows — Security law imposed 5 years ago undermines former colony’s uncensored book scene.
- Chinese brand catches tailwind with powerful, pricier handheld fans — How Jisulife narrowed its focus and went upmarket to capture global customers.
- Opinion: Just when Trump thought he was out, Iran pulls him back in — ’12 Day War’ gives Beijing an opportunity to gain influence in the Middle East. By Richard Heydarian.
Bloomberg
- China Shows Off Tech Resilience in Face of Trump Export Controls — As Trump brandishes controls on tech as a bargaining chip to wrest supplies of rare earth magnets from Beijing, China is showing what it can do without advanced U.S. semiconductors.
- First China Weight Loss Drug Rival to Novo, Lilly Emerges — Novo Nordisk A/S and Eli Lilly & Co, the pharmaceutical giants dominating the global obesity drug market, now face their first serious rival in China.
- Serbia Says China Has Promised Stellantis Critical Minerals Help — Serbia has received assurances from China that it would support speeding up exports of materials critical for electric-vehicle production, benefiting companies like Stellantis NV.
- Why Rare Earths Are China’s Trump Card in Trade War With US — Rare earths are among the most critical raw materials on the planet, deeply embedded in the tech that underpins modern life. Now the US-China trade war has thrust them into the limelight.
- Chinese Robot Startup Reaps Rewards After High-Profile Race — Noetix Robotics founder Jiang Zheyuan was nervous about burning through investors’ money quickly. Then one of its N2 models placed second in the world’s first half-marathon for robots.
Reuters
- China is quietly supplanting Russia as Cuba’s main benefactor — A Reuters review of various sites on the ground suggests that where many of Russia’s most recent promises have fizzled, China has discreetly stepped up to fill the void.
- India’s Sona Comstar plans domestic magnet production to cut China imports — India, which has the world’s third-largest car market and its fifth-largest reserves of rare earths, is working on a new program to incentivise magnet production locally to wean off China.
- Chinese money fires up Hong Kong shares — A record $90 billion of cash from the mainland has driven a stellar 21% rally in Hong Kong stocks in the first half of 2025, reshaping the landscape of a market foreign investors have avoided for several years.
Other Publications
- The Atlantic: The Iran-China-Russia Axis Crumbles When It Matters — Beijing likes allies who needle the U.S., but it values stability even more.
- RAND: Full Stack — China’s Evolving Industrial Policy for AI.
- Los Angeles Times: AI is controversial in Hollywood. For China’s film business, it’s no holds barred — China plans to use AI technology to modernize classic martial arts films featuring Bruce Lee and Jackie Chan and reintroduce them to younger viewers.
- The Guardian: ‘It’s not Chinese assistance’: Australia accuses China of taking undue credit for aid projects in the Pacific — Minister Pat Conroy says Chinese ‘branding’ of multilateral development projects to bolster its influence in the region is a consistent frustration.
