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
- Lithium Bulls Getting Ahead of Themselves on China Supply Cut — The rally in shares of lithium producers has run too hard, too fast, analysts say, as there remains a lot the market doesn’t know about how future lithium output may be affected in China.
- Asia Stock Markets Get a Lift as China, U.S. Extend Tariff Truce — Japan’s Nikkei Stock Average touched its highest level in over a year earlier in the day.
- China Creates World’s No. 1 Shipbuilder, Driven by Rivalry With U.S. — In a $16 billion merger, Beijing is looking to counter President Trump’s moves to rebuild American shipyards.
- With Billions at Risk, Nvidia CEO Buys His Way Out of the Trade Battle — Jensen Huang tried diplomacy to sell chips in China, but it took a last-minute deal with the White House.
- What to Know About Trump’s Plan to Take 15% of AI Chip Sales to China — The Constitution prohibits the federal government from imposing taxes or duties on items exported from the U.S.
- Opinion: Now Trump Wants an Export Tax — Want a license to sell chips to China? Better pay the man. By The Editorial Board.
- Opinion: Now Trump Wants to Tax Exports? — A new exaction on chip sales to Chinese customers is no way to maintain U.S. technology leadership. By James Freeman.
The Financial Times
- Show me the Monet: artwork among $255mn of assets recovered after Evergrande default — Value is less than 1% of Chinese property developer’s total holdings at time of collapse.
- Beijing puts pressure on Chinese tech giants over purchases of Nvidia’s H20 chips — Alibaba and ByteDance among companies who have received questions from regulators.
- Scania to export half of trucks built at €2bn China plant — VW-owned group preparing for global influx of Chinese-made vehicles by staying close to cutting-edge technology.
- Trump opens door to Nvidia selling advanced AI chips to China for a fee — US president confirms he negotiated ‘a little deal’ with chipmaker’s chief Jensen Huang.
- HSBC flags 73% of Hong Kong commercial property loans as risky — Prolonged slump in retail spending and sluggish office demand put Europe’s largest lender on notice.
- Trump extends trade war truce with China — US leader postpones new tariffs on world’s biggest exporter for another 90 days.
- Opinion: Strategic interdependence is rewiring the global economy — It is no longer sufficient for the US-China trade relationship to be driven solely by cost and efficiency. By John Waldron.
- Opinion: Trump’s export tariff is worth it for Nvidia — The numbers at stake are surprisingly small. By Lex.
- Opinion: China has its own concerns about Nvidia H20 chips — Beijing’s investigation is a reminder that Trump isn’t the only leader with a habit of capricious decision making. By Chris Miller.
The New York Times
- President Trump Calls Intel C.E.O. a ‘Success’ After Meeting — Just days after calling for the resignation of Intel chief, Lip-Bu Tan, over his ties to China, Mr. Trump changed his tune.
- Trump Extends China Tariff Truce by Three Months — President Trump’s order continues a reprieve from the threat of escalating tariffs and export controls, which rocked the global economy earlier this year.
Caixin
- Chinese Lessor Gets $23 Million Insurance Payout for Jets Stranded in Russia — Payout is latest move in multibillion-dollar battle over the 515 leased aircraft stranded after invasion of Ukraine.
- China’s Exports of White Goods Squeezed as Trump’s Tariffs Bite — China’s home appliance exports drop but Europe’s heatwave boosts air-con sales.
- Lithium Prices Jump as CATL Shuts Yichun Mine Over Expired Permit — CATL says it awaits renewal of its permit, and its overall business will not be affected significantly.
- China’s Inclusive Finance Success Leaves Banks Burdened — Inclusive finance has been a runaway success in China. — The idea is to offer a helping hand to individuals and businesses that banks don’t typically view as ideal customers.
- Opinion: Critical Minerals Fuel the Green Energy Transition — The advancement is highly dependent on a sustainable supply of critical metals, requiring tech innovation, resource recycling, and supply chain diversification to reduce associated risks. By Fu Xiaofang.
South China Morning Post
- Shaolin’s ‘CEO monk’ scandal may prompt overhaul of how temples are run in China — While long-time abbot Shi Yongxin faces criminal investigation it’s business as usual at the temple, but it could be a turning point.
- China accuses US of using ‘lies as pretext for seeking control’ of Panama Canal — US envoy told a UN meeting that Beijing’s influence is a ‘risk to Panama and the US’ and a ‘potential threat to global trade and security’.
- China’s Wing Loong-2: a multi-role UAV workhorse with an overseas advantage — Backbone of the PLA’s drone programme offers proven combat capabilities and a cost-effective modular platform for export markets.
- China’s Xi calls for unity in talks with Brazil’s Lula amid US trade rupture — Leaders discussed war in Ukraine, the role of Brics and G20 in defending multilateralism, and COP30 summit, according to Brasilia.
- China releases rare footage of DF-100 cruise missile to deter US — ‘If it can be launched close to urban areas, it will be more difficult for adversaries to locate, identify, target and destroy it’: analyst.
Nikkei Asia
- Top shoemaker Yue Yuen’s China woes wipe out front-loading gains — Tariffs cloud outlook at Taiwanese contract manufacturer for Nike and Adidas.
- US-China trade tensions mean cheaper onions, garlic for Japan — Restaurants benefit from supply glut, as Chinese exports to US drop amid tariffs.
- Opinion: China’s official trade surplus remains as high as at its peak — Beijing surprises the world despite the decline in trade as a percentage of GDP. By Amit Kumar.
Bloomberg
- China Urges Companies Not to Use Nvidia’s H20 Chips — The move could make it more difficult for Nvidia and AMD to sell their hardware into the world’s largest market for semiconductors.
- Meloni Seeks to Shrink Chinese Holdings at Key Italian Companies — Giorgia Meloni’s government is considering plans to curb Chinese investors’ holdings at key companies to avoid potential tensions with the US.
- China Commerce Ministry Expert Sees Uncertainty Despite Truce — A better outcome would include a mechanism to ensure both sides make good on agreements, said Zhou Mi, from the Chinese Academy of International Trade and Economic Cooperation.
- Opinion: How the US Could Lose the AI Arms Race to China — America leads the world in developing the most advanced models, but China excels at fostering broad adoption. By Hal Brands.
- Opinion: Rare-Earth Deals Show the US Can Break China’s Grip — America can reclaim its supplies — but only with government support. By Thomas Black.
Reuters
- China factories cut shifts and workers’ pay as US tariffs bite — Underemployment is worsening due to higher levies and industrial overcapacity, squeezing income, undermining workers’ confidence about the future and prompting them to spend less.
- China’s aland Health seeking buyers at over $1.5 billion valuation— The company is on track to generate about $150m in annual earnings before interest, taxes, depreciation and amortisation, has attracted interest from strategic buyers and private equity firms.
- Stocks subdued as inflation fears dampen US-China trade truce optimism — Asian equities rallied after U.S. President Donald Trump signed an executive order overnight pausing triple-digit levies on Chinese imports for another 90 days.
Other Publications
- Foreign Policy: America’s Military Runs on Chinese Rare Earths — But the Pentagon is hoping it can change that.
- Foreign Policy: Trump’s AI Action Plan Is at War With Itself — A self-contradictory mix of U.S. policies may already be stimulating Chinese AI.
- The Washington Post: Global ‘mining mafia’ feeds China’s appetite for gold, investigation shows — On three continents, Chinese syndicates are transforming illegal mining.
- Rest of World: China’s vision for a driverless future is miles ahead of everyone else’s — Strong govt backing and strict regulatory oversight of the Chinese autonomous vehicle industry contrasts sharply with the piecemeal laws and slower adoption in the U.S.
- Brookings: Opinion: Interwoven frontiers: Energy, AI, and US-China competition — Behind the rhetoric of U.S.-China decoupling, the reality is a much more nuanced story of frequent mutualism between international technical AI researchers. By R. David Edelman.
- The Guardian: Opinion: Why Peak China may finally have arrived — The technological and strategic brilliance of its world-class companies are being swamped by macroeconomic troubles. By George Magnus.
