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’s New Plan to Encourage More Births Is Underwhelming — Beijing plans to hand out $500 annually for each child, as falling birthrates reverberate through economy.
- U.S.-Based Wells Fargo Banker Blocked From Leaving China — Chinese authorities have placed an exit ban on a China-born executive after she entered the country recently.
- Legislators Embrace Technology Recycling to Compete With China — Politicians from across the aisle want to boost efforts to salvage electronic waste in a bid to reuse critical minerals.
The Financial Times
- ‘No longer a pet project’: tiny Beijing stock exchange becomes IPO hub — Looser listing rules and demand for small cap tech drive more IPO applications than for Shanghai and Shenzhen combined.
- Xi warns Chinese officials against over-investment in AI and EVs — President launches blunt attack on cadres who encourage reckless development then ‘pat their buttocks’ and walk away.
- Shares in non-Chinese graphite producers rally after U.S. unveils 93.5% tariff — Commerce department’s move follows Beijing restricting transfers of battery technology.
- Wells Fargo halts travel to China after senior banker hit with exit ban — China has prevented banker from leaving after work trip to country.
- Opinion: A new cold war with China won’t help the U.S. — Framing Beijing as a mortal enemy will hamper US growth and reduce Washington’s global influence. By Stephen Wertheim.
The New York Times
- U.S. Proposes Steep Tariffs on Critical E.V. Battery Material — The Commerce Department plans to impose a 93.5 percent levy on Chinese graphite, an essential ingredient in the batteries that power electric vehicles.
- Before Trump, Indonesia Had Another Trade Headache: China — Long before President Trump wielded tariffs as a weapon to punish Indonesia, the country was fighting back a flood of cheap Chinese goods.
- Opinion: The Cost of Trump’s Surrender to China — China has been displaying intellectual and innovative vitality for decades and the United States has scarcely mobilized. By David Brooks.
Caixin
- Race for Hong Kong Stablecoin Licenses Shakes Markets — As Hong Kong prepares to issue just a few stablecoin licenses, the battle draws in Ant, JD, and China’s state-owned behemoths.
- HNA Co-Founder Jailed as Curtain Falls on Debt-Fueled Empire — Chen Feng gets 12 years for embezzlement and fraud, closing the book on one of China’s most aggressive global acquirers.
- Late Beverage Tycoon’s Secret Children Go to War With Official Heir Over Billions — Wahaha inheritance scrap may serve as a warning for China’s aging first generation of post-reform entrepreneurs.
- China’s E-Commerce Giants Launch Multibillion-Dollar Blitz to Deliver the Future — The explosive growth of ‘instant retail’ has sparked a turf war in which delivery speed is all that counts.
- China’s Autonomous Driving Firms Step Up Global Push With Uber Deals — Baidu is teaming up with Uber to roll out the Chinese tech giant’s Apollo Go robotaxis in Asia and the Middle East later this year.
South China Morning Post
- Will supply chain troubles delay the debut of America’s F-47 fighter jet? — Timeline for jet’s engine pushed back more than two years, adding pressure as U.S. and China race to build sixth-generation fighters.
- China cuts U.S. Treasury stockpiles to the lowest level since 2009 — Beijing shed more U.S. debt in May as trade tensions flared and Trump’s ‘Big Beautiful Bill’ sparked alarm.
Nikkei Asia
- Property slump and tariffs leave Chinese grads with barren job market — Private companies pull back on hiring even as education levels keep rising.
- Thailand scrambles to bring back Chinese tourists after 40% drop — Airport immigration offers fast-track entry for families during travel season.
Bloomberg
- China Will Make Almost a Third of the World’s Cars by 2030 — The surge in Chinese car exports is reshaping automobile markets around the world, flooding countries with affordable vehicles and triggering a price war.
- A Rebel Army Is Building a Rare-Earth Empire on China’s Border — The Kachin Independence Organization fought for decades in obscurity. Now it’s supplying essential minerals to manufacturers around the world.
- China VC Funds Tap Global Investors for $2 Billion in Comeback — Six firms represent a wave of fundraising that hasn’t been seen among Chinese VCs for years.
Reuters
- Exclusive: India’s top think tank recommends easing investment rules for Chinese firms, sources say — Currently, all investment by Chinese entities in Indian companies need to gain a security clearance.
- Exclusive: China quietly issues 2025 rare earth quotas, sources say — The government issued the first set of quotas for the year only last month, without the usual public statement, sources said.
Other Publications
- The Economist: Move over, Tim Cook. Jensen Huang is America Inc’s new China envoy — Nvidia’s boss is proving to be a canny diplomat.
- WIRED: Some Cities in China Are Advertising Exclusive Subsidies for Huawei-Powered Cars — WIRED identified 10 local governments in China that are offering discounts to consumers who choose cars running Huawei software. It’s not always clear who is footing the bill.
- Foreign Affairs: Is China’s Military Ready for War? — What Xi’s Purges Do—and Don’t—Mean for Beijing’s Ambitions.
- Foreign Policy: How Strong Is China’s Rare-Earth Card? — Washington is making big moves, but Beijing has a powerful hand.
- CSIS: Beyond Rare Earths: China’s Growing Threat to Gallium Supply Chains — CSIS analysis reveals the extent to which China can wield gallium to impose significant economic harm on the United States and its allies and partners.
