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
- Vietnam Trade Deal Takes Aim at Back Door for Chinese Goods — The deal with Vietnam seeks to stop Chinese-made goods from transiting through the southeast Asian country to avoid higher duties.
- U.S. Eases Some Chip Software Curbs on China — The U.S. has lifted some curbs on exports of chip-design software to China, according to three companies that say they are working to restore access to recently restricted products.
- China’s Service Sector Activity Expands at Softer Pace — A gauge of China’s services sector activity expanded in June amid efforts by businesses to attract new customers.
The Financial Times
- China criticises Trump’s trade deal with Vietnam — US president’s focus on punishing ‘trans-shipment’ of goods draws Beijing’s ire.
- Chip software makers say US restrictions on sales to China lifted — Washington had limited exports of semiconductor design software in tit-for-tat over trade talks.
- China’s central bank seeks European lenders’ advice on low interest rates — People’s Bank of China asks for tips on fighting ‘Japanification’ amid low inflation.
The New York Times
- Trump Says U.S. Has Reached Trade Deal With Vietnam — The preliminary deal will also indirectly affect China, an important trading partner of Vietnam.
Caixin
- Shanghai SOE to Lead New Personal Credit Reporting Firm — The firm, the fourth to be licensed in the country, will likely make use of government data and limit big tech stakes.
- Key Challenges China’s Next Five-Year Plan Needs to Tackle — Against the backdrop of an uncertain environment abroad and sluggish demand at home, academics, economic planners and other experts are busy working on the next national five-year plan.
- China’s Theme Parks Face Slower Growth as Shanghai Legoland Opens — $550 million theme park has met with lukewarm interest compared with the Universal Studios in Beijing ticket frenzy.
- CATL Breaks Ground on $6 Billion Indonesian Battery Hub — Project spans the full battery supply chain, from nickel mining and smelting to cell manufacture.
- Emerging Liquid Batteries Could Solve China’s Grid Stability Problems, Insiders Say — Promising ‘flow’ battery technology could cut costs, boost efficiency and safety.
South China Morning Post
- Trump wants US$30 billion for China shipbuilding race. Here’s why victory won’t come easy — Observers say US may struggle to match China’s fast-growing naval fleet and commercial shipbuilding, even with the support of Asian allies.
- Armenia looks to deepen ties with China while eyeing foreign relations beyond Russia — Armenian Foreign Minister Ararat Mirzoyan says his country’s Crossroads of Peace and China’s belt and road project are interdependent.
- Meet China’s first home-grown carrier, the Shandong – a bridge to a blue-water future — The PLA Navy’s second carrier has become an instrument of Beijing’s long-range power projection past the first island chain.
- South Korea’s Lee Jae-myung caps first month in office with pledge to improve China, Russia ties — The president says his focus is on pragmatic diplomacy that safeguards the public and national interests.
- Why Xi Jinping sees China’s marine economy as a national priority — Beijing eyes ocean-driven growth, as Chinese leader pledges more support for offshore sectors like wind power, shipping and marine biotech.
Nikkei Asia
- China’s decision-making system under review amid economic woes — Xi Jinping’s dilemma: Balancing national security against China’s harsh realities.
- Chinese discount retailer grows as demand rises for affordable goods — HotMaxx launches supersized outlets after success with near-expiry snacks and drinks.
- Opinion: China’s SCO leadership is being tested by regional conflicts — Group coming under strain from internal fissures and external shocks. By Hao Nan.
Bloomberg
- Trump Aims to Shut Trade Loopholes China Uses to Evade Tariffs — The US-Vietnam trade deal aims to prevent Chinese exports from being rerouted through Vietnam to avoid US tariffs, with a 40% levy on goods deemed to be transshipped through Vietnam.
- Top Chinese Official Softens Tone on US, Says War ‘Unimaginable’ — A senior Chinese official said he was “optimistic” about the future of his nation’s ties with the US, among the most upbeat comments given by Beijing in recent weeks.
- Opinion: Taking GDP Out of the China Equation — The latest numbers are encouraging, but don’t give the whole picture. By Daniel Moss.
Reuters
- China denies military base ambitions in Pacific Islands — “China’s presence in the Pacific is focused on building roads and bridges to improve people’s livelihoods, not on stationing troops or setting up military bases,” said a Chinese embassy spokesperson.
- EU presses China on rare earths and Ukraine war — European officials say Chinese companies provide many of the vital components for Russian drones and other weapons used in Ukraine.
- China’s tech giants lobby for offshore yuan stablecoin, sources say — The moves come as Hong Kong races the United States in setting up a regulatory framework for stablecoins, competing for a greater reach in global digital finance and trade.
Other Publications
- Foreign Policy: A Bull in the China Policy Shop — The “move fast and break things” approach of Trump’s second term has undermined some of his administration’s own China goals.
- Foreign Affairs: The Fantasy of a Grand Bargain Between America and China — Why Deadlock Is More Likely Than Détente.
- The Atlantic: Chinese Students Feel a Familiar Chill in America — Surveillance, censorship, detention were things to worry about back home. Now they’re here.
- Brookings: Does the United States need a China rethink? — Experts examine the question of whether the United States and China have irreconcilable visions of world order.
