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
- Chinese Competition Has Led to Job Losses in Eurozone Manufacturing, ECB Says — The central bank said competition affected 240,000 jobs between 2015 and 2022.
- Nvidia Reiterates Its Chips Don’t Have Back Doors — Nvidia warns against embedding any back doors or kill switches into chips.
- The Mystery of the L.A. Mansion Filled With Surrogate Children — A couple with ties to China say they wanted a big family. Surrogates who carried the children say they were deceived.
- Opinion: China’s Z.ai and America’s Self-Defeating AI Strategy — The company’s success despite U.S. sanctions proves export restrictions are counterproductive. By Aaron Ginn.
The Financial Times
- China tests out stablecoins amid fears of capital outflows — Policymakers say dollar-backed tokens cement U.S. dominance but regulator has warned of money laundering risk.
- Opinion: Trump is the gift that keeps giving to China — The U.S. president is upending a quarter of a century of American policy in the Indo-Pacific. By Edward Luce.
The New York Times
- China Wages War on Chikungunya Virus With Drones and ‘Elephant Mosquitoes’ — In a citywide campaign to curb a mosquito-borne virus, residents of Foshan face inspections and warnings for failure to comply.
- China Is a Nation of Savers. Many Are Drowning in Debt. — As Beijing pushes consumer lending to stimulate the economy, millions of Chinese borrowers, especially the young, are falling into debt spirals.
Caixin
- China’s First-Half Services Trade Hits 10-Year High — Travel services were the largest single contributor over the period, growing more than 12% after a loosening of visa policies.
- Li Auto’s Promotional Crash-Test Video Backfires — A head-on collision meant to demonstrate the EV-maker’s new vehicle infuriates Dongfeng Motor and raises concerns about aggressive marketing in China’s auto industry.
- Why China’s Banks Are Hunting for Fortunes Stashed Abroad — Faced with a growing mountain of bad loans, some Chinese lenders are turning to international litigation funders to claw back billions of yuan hidden in overseas mansions, yachts and bank accounts.
- Banks Gear Up for Beijing’s Subsidized Lending Campaign — Initiative aims to boost household spending, though lenders still await guidance on how policy works
- Alibaba’s Freshippo to Shut Last X Member Store in Strategic Revamp — Chinese warehouse stores have struggled to break into the membership-based, bulk-buying format.
South China Morning Post
- For the U.S., it’s Mountain Pass — or fail — versus China’s rare earth supremacy — China spent decades carving out a commanding lead in the rare earth realm. Now the US wants its old piece of the supply chain back — is it still within reach?
- Is China stealing the march on science talent as U.S. funding cuts spare no one? — Trump-era cuts are hobbling U.S. research, while China has stepped up efforts to attract science and tech talent, particularly mathematicians.
- Booming coffee class and zero-tariff policy drive China’s push for African beans — Africa’s coffee exports to China grew 70.4 per cent in the first quarter, with more deals expected to satisfy the discerning middle class.
Nikkei Asia
- China’s automakers speed up efforts to replace Nvidia chips — Fears of more U.S. restrictions push companies to develop in-house solutions.
- Shipping rates dive as China-U.S. front-loading tapers off — Trump tariffs prompt warnings of rough second half for transport sector.
- Pizza Hut Wow leads Yum China’s charge into smaller cities — Tough competition, ‘rational’ consumers push fast food chain to new markets.
Bloomberg
- The AI Showdown: How the U.S. and China Stack Up — The technology, the state, the strategy and the money: Here’s how the two economic superpowers are vying for AI domination.
- AMD’s China Concerns Overshadow Upbeat Sales Forecast for AI — AMD warned that its return to the crucial China market remains a work in progress.
- China Draws Red Lines on U.S. Chip Tracking With Nvidia Meeting — For now, the spat looks unlikely to blow up the wider U.S.-China relationship.
- U.S. Charges Chinese Nationals With Nvidia Chips Export Breach — Authorities claimed the defendants sought to evade U.S. export restrictions by shipping through third countries.
- Platinum Crunch Comes to a Head as U.S. and China Snap Up Metal — Tariff fears have funneled large volumes to U.S. warehouses, while Chinese imports continue to exceed estimated domestic consumption.
Reuters
- U.S. lawmaker questions Intel CEO’s ties to China in letter to company board chair — Senator Tom Cotton raised questions about Tan’s disclosures related to investment, professional roles or other ties to Chinese companies.
Other Publications
- The Economist: Six months after DeepSeek’s breakthrough, China speeds on with AI — Real-world applications have priority over cutting-edge development.
- Rest of World: China’s AI drug discovery companies land huge deals with Big Pharma — Multibillion-dollar partnerships show China’s rising influence in AI-driven pharmaceuticals.
- Foreign Policy: Is China Changing Its Nuclear Launch Strategy? — Certain behaviors suggest it may be preparing to adopt one of the Cold War’s most dangerous policies.
