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 Politburo Holds off on Further Stimulus — The country’s top policymaking body pledged to better execute policies that are already in place.
- Stronger Than Fentanyl: A Drug You’ve Never Heard of Is Killing Hundreds Every Year — Ultrapotent synthetics, mostly from China, are easy to smuggle and mix into heroin, recreational drugs and gray-market pharmaceuticals.
- How China Is Girding for an AI Battle With the U.S. — As Washington tries to limit its progress, Beijing is spending more to build an artificial-intelligence ecosystem that doesn’t rely on U.S. technology.
The Financial Times
- ECB warns US-China trade clash could drag Eurozone inflation lower — Rerouting of goods to currency area could result in up to 10% rise in cheap Chinese imports in 2026, say economists.
- US says extended trade war truce with China hinges on Trump approval — Treasury secretary heads back to Washington after two days of talks in Stockholm.
- US cancelled meeting with Taiwan as China trade talks loomed — Trump administration officials worried defence minister’s June visit would have undermined negotiations with Beijing.
- ‘Pervasive sense of fear’: China steps up exit bans as US tensions flare — Opaque restrictions risk damaging business confidence, experts and investors warn.
The New York Times
- Trump Administration Told Taiwan’s President to Avoid U.S. Stopover — The Taiwanese leader canceled U.S. transit visits after being urged to change his plans, two officials said. Washington has been in talks with Beijing over trade and a possible summit.
- China Sees Gaps in U.S. Defenses, Ousted National Security Official Says — Gen. Timothy D. Haugh, the former head of both the National Security Agency and Cyber Command, gave his first interview since he was fired.
- U.S. and China Fail to Reach Immediate Deal to Prolong Trade Truce — After a “constructive” round of talks ahead of an Aug. 12 deadline, Treasury Secretary Scott Bessent said, “Nothing is agreed until we speak with President Trump.”
Caixin
- Hong Kong Regulator Targets Early 2026 for First Stablecoin Licenses — Applicants must undergo identity verification and face tighter anti-money laundering rules.
- Two Heads of Bank of China’s Overseas Arms Unreachable — Macao chief Jia Tianbing has been detained along with several of his relatives, sources say.
- Will China’s Push for Banks to Fuel Tech Growth Pay Off? — An expanded pilot aims to let more banks fund tech startups via equity, but risks and talent gaps could limit its effectiveness.
- China’s Humanoid Hype Faces a Reality Check — Companies must prove their robots can perform in the real world, but hardware and data challenges stand in the way of mass production.
- Huawei Reclaims China Smartphone Sales Crown — In the second quarter, the telecom giant shipped over 12 million handsets in China, cornering 18% of the market.
South China Morning Post
- Absolute dominance: what China needs to know about the tech elite’s role in Trump 2.0 — Beijing should weigh visions of tech accelerationists like Musk and Thiel to grasp Washington’s broader strategic agenda, experts say.
- Chinese tycoon’s proposed water deal spurs objections in US state of New Hampshire — Zhong Shanshan firm’s US subsidiary had planned beverage plant using city’s surplus water.
- Panama logs over 160 actions in ports investigation amid US-China canal dispute — Panama’s attorney general says inquiry into alleged wrongdoing by CK Hutchison unit that runs two Panama Canal ports is ‘not a routine case’.
- 6G expert G.K. Chang counts costs after winning 4-year fight in China Initiative case — Exonerated Georgia Tech top scientist draws harsh lessons from legal nightmare after judge tosses visa, wire fraud charges.
- Opinion: If China no longer takes Europe seriously, Brussels has itself to blame — The bloc’s incoherence on China and submission to the US has relegated it to a state of irrelevance, undermining its leverage with both powers. By Sebastian Contin Trillo-Figueroa.
Nikkei Asia
- China Politburo cheers ‘resilience,’ warns on ‘disorderly competition’ — Top decision-making body vows to manage capacity in key industries.
- Starbucks CEO seeks China partner to ‘compete more effectively’ — Niccol says over 20 parties have inquired; US chain will keep ‘meaningful stake’.
- Spain’s Huawei contract exposes EU to security risks, critics say — China may gain intelligence access, undermining bloc’s moves to build digital unity.
- Changan Auto business carved out from key PLA supplier — China state company reshuffle follows Xi order to build ‘powerful auto state’.
- Opinion: China has deliberately ignored the Thailand-Cambodia crisis — Isn’t it odd that isolationist Donald Trump is successfully engaging the combatants? By David Hutt.
Bloomberg
- Xi Ties His Legacy and China’s Economy to $167 Billion Dam — Beijing’s mammoth project is a bid for stimulus, energy security and control over a river vital to millions.
- Trump Tariff Uncertainty Distanced Vietnam From China. It Didn’t Last. — Vietnam’s manufacturing hub has been abuzz with activity as Chinese money flows in despite uncertainty over US tariffs.
- Trump Wields Trade Threat to Play Peacemaker in China’s Backyard — Tariff threats against Thailand and Cambodia pushed them toward ending their deadly border clash this week, showing again his willingness to use a trade war cudgel to stop armed conflict and upstaging China in its own backyard.
- Opinion: Going Soft on China Could Be a Hard Lesson — The first time around, the president forged a bipartisan consensus to get tough on Beijing. Now he’s undermining it. By Hal Brands.
- Opinion: China’s AI Strategy Relies on Frenzy and Frenemies — Beijing is calling for solidarity while Washington favors ‘America First.’ By Catherine Thorbecke.
Reuters
- As Evergrande faces delisting, China property debt revamp drags on — China Evergrande Group looks set to be kicked off the Hong Kong exchange next month after failing to revamp its debt and being pushed into liquidation, with the stubbornly weak Chinese property sector clouding the outlook for debt restructuring by its peers.
- HSBC profit tumbles as China losses mount — Its 26% slump in pretax profit in the first half showed the challenge ahead for CEO Georges Elhedery, as Europe’s largest bank racked up losses in China, where it has increasingly pinned its plans for growth in recent years after shrinking in Western markets.
- India buys record soyoil from China in rare move, sources say — India, which mainly imports soyoil from Argentina and Brazil, began buying from China due to the price advantage, the dealer said. China is traditionally a net importer of soyoil and palm oil.
Other Publications
- Foreign Policy: Is This the Start of a U.S.-China Friendship? — Why all signs are pointing to a breakthrough at the upcoming Trump-Xi summit.
- CFR: Cancelling President Lai’s Transit Is a Mistake That Will Embolden China — The Trump administration’s cancellation of President Lai’s transit risks emboldening China.
- Foreign Affairs: What Does China Want in Ukraine? — Beijing’s Ambivalence Is Limiting Its Role.
- Brookings: Beijing bolsters its position in the Indo-Pacific with little US pushback — These activities are likely designed to establish a “new normal” for Beijing’s coercive activities during the Trump administration.
- The Intercept: The Philippine Missile Crisis: U.S. Deployed Arms to the Philippines and No One Noticed But China — It was a massive escalation that angered China — and there was no congressional debate, no televised announcement, and no vote.
- The Information: How Cursor’s Global Success Is Lifted by China — China has become a big market for Cursor, the fast-growing AI coding tool, in part thanks to the access it offers to U.S. AI models. That may not last.
