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
- Nvidia’s China Troubles Aren’t Over — AI chip giant is cheering now, but the celebration may be short.
- Nvidia CEO Lavishes Praise on China in Beijing, Drawing Rock-Star Reception — Jensen Huang, head of $4 trillion chip maker, says Trump won’t mind his meetings in Beijing.
- China Convicts Employee of Japanese Drugmaker of Spying — Astellas Pharma executive sentenced to 3½ years in case that added strain to Tokyo-Beijing ties.
- Alibaba-Backed Chinese AI Startup Files for Hong Kong IPO — Shanghai-based MiniMax, valued at around $4 billion, aims to list as soon as this year.
- A 21st-Century Democratic Alliance — More defense spending is necessary but not enough. We also need cooperation on trade and technology. By Rishi Sunak.
- China’s Bad ‘Good’ Economic Quarter — Deflation creates an illusion of strong economic growth. By The Editorial Board.
The Financial Times
- Lutnick says easing of Nvidia’s AI chip exports linked to China deal — U.S. commerce secretary wants Chinese AI developers to ‘get addicted to the American technology.’
- Nvidia chief vows to ‘accelerate recovery’ of China sales as H20 chip ban lifted — Jensen Huang tells Beijing press conference it takes nine months to restart supply chain.
- Japanese executive sentenced to 3.5 years in China for espionage — Verdict draws objections over lack of judicial transparency and raises concerns for foreign businesses.
- Trump reaps $50bn tariff haul as world ‘chickens out’ — Only China and Canada have retaliated against U.S. president’s tariff war.
- Chinese stocks go down at night because no one trusts anyone: study — The unintended consequences of protecting degens from algos.
The New York Times
- China Puts New Restrictions on E.V. Battery Manufacturing Technology — Beijing will now require government licenses for any effort to transfer abroad the technologies crucial for producing inexpensive electric cars.
- China Is Spending Billions to Become an A.I. Superpower — Beijing is taking an industrial policy approach to help its A.I. companies close the gap with those in the United States.
- Australian Premier Albanese Meets China’s Xi in Beijing — Prime Minister Anthony Albanese is trying to deepen ties with China, his country’s biggest trading partner, while being under pressure from the United States.
Caixin
- China Tightens Export Rules to Protect Its Lead in Lithium Battery Tech — Beijing updates export curbs on processes critical for the development of next-generation batteries.
- China’s Humanoid-Robot Makers Cash In on Novelty — Despite lacking large-scale commercial applications for their products, many startups benefited from an investment spree sparked by a troupe of dancing robots.
- TikTok Triggers Summer Hotel Price War as it Takes on Travel Platforms — Douyin seeks bigger slice of online travel market in move that could squeeze out smaller players.
- Chinese Sellers Turn to Russia’s Booming E-Commerce Market Amid U.S. Tariffs — A region with 190 million internet users is rich soil from e-commerce, says online retail executive.
South China Morning Post
- China looks to Africa as testing ground for global roll-out of yuan — A growing list of African nations have made deals to explore or implement use of the Chinese currency for trade and financial transactions.
- Airbus signs fresh deal with Chinese partner amid talk of massive China order — Airbus will localize more production of its A321 jet in China as part of the agreement, which comes just ahead of a key China-EU summit.
Nikkei Asia
- Can China build its own ASML? — Beijing wants 100% domestic chip equipment, but lithography remains an uphill battle.
- Chinese consumer brands surge in Southeast Asia, challenge legacy names — Companies buy rivals, tap e-commerce to gain market share.
- China’s top lithium firms trim losses but warn of volatility — Shares of Ganfeng Lithium and Tianqi Lithium drop in Hong Kong.
- China’s food delivery wars taking a bite out of Alibaba’s, others’ profits — Platforms set user and order records as investment banks sound warnings.
- Huawei brushes aside accusations of copying Alibaba AI model — China IP issues in spotlight as development ripples through domestic tech industry.
Bloomberg
- China Earnings Pose Risks to Nascent Rebound in Onshore Stocks — The bleak earnings outlook could sour the mood for investors just when onshore Chinese equities are showing signs of a revival after months of lackluster trading.
- Trump AI Czar David Sacks Defends Reversal of China Chip Curbs — Sacks said that allowing Nvidia to restart shipments of its H20 chips would position the U.S. to compete more effectively abroad and blunt efforts by Huawei to gain a bigger slice of the global market.
Reuters
- Beneath China’s resilient economy, a life of pay cuts and side hustles — While China has supported economic growth by keeping its ports and factories humming, the lack of real demand has hit profits, in turn squeezing workers.
- Exclusive: Australia nears breakthrough canola deal with China, sources say — Canberra is close to an agreement with Beijing that would allow Australian suppliers to ship five trial canola cargoes to China, sources said.
Other Publications
- The Economist: You don’t have to be America or China to win in AI, says Rishi Sunak — The race for broad adoption is just as important as the one for artificial general intelligence.
- The Washington Post: China’s cyber sector amplifies Beijing’s hacking of U.S. targets — American officials say new economic model for offense has fueled spying attacks by government agencies that have more than doubled.
- Scientific American: China Is Putting Data Centers in the Ocean to Keep Them Cool — China is pulling ahead of the rest of the world in sinking data centers that power AI into the ocean as an alternate way to keep them cool.
- Foreign Policy: Chinese Bankers Are at the Center of Global Crime — China’s underground financiers have specialized in international money laundering.
