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 Yuan Loans Drop Unexpectedly — New yuan loans fell in July, sending yet another sign of weak demand in the Chinese economy despite Beijing’s efforts to bolster domestic demand.
- Why China Loves and Fears Nvidia’s H20 Chip — Exports of the AI chip could raise billions of dollars for the U.S. government.
- Tencent Posts Earnings Beat as AI Buoys Game, Ad Businesses — The videogame and social-media company posted better-than-expected results amid resilience in its key gaming business and rapid AI-led growth in its marketing-services segment.
- China’s Lead in Open-Source AI Jolts Washington and Silicon Valley — U.S. companies and policymakers are mobilizing their response to free-to-use AI models from China.
- China to Hit Canadian Canola With Nearly 76% Tariff as Trade Row Escalates — The levy would be a blow for Canada’s agricultural sector, as canola represents the biggest cash crop for farmers.
- Bankrupt Property Developer China Evergrande to Delist From Hong Kong Exchange — The company received a letter from the regulator informing it that the Hong Kong stock exchange listing committee has decided to cancel Evergrande Group’s listing.
- Opinion: If the U.S. Doesn’t Set Global Tech Standards, China Will — Beijing wants to control how much freedom people have online by making the rules for new technologies. By Shane Tews and Luke Hogg.
The Financial Times
- China targets 2 Lithuanian banks as EU relations sour over Ukraine — Brussels earlier imposed curbs on two Chinese lenders over trade with Russia.
- China subsidises consumer loans as deflation spectre looms — Latest stimulus plan aims to boost consumption while protecting banks’ profit margins.
- UK companies in China buoyed by diplomatic thaw — Warming between London and Beijing encourages expansion by British businesses in world’s second-largest economy.
- China’s new canola tariff heightens trade tensions with Canada — Preliminary 76% duty marks escalation after Beijing applied levies on the sector in March.
- Opinion: Lithium’s price jolt could prove shortlived — Despite the closure of a major mine in China, the commodity must hope rising demand will erode the slack. By Lex.
The New York Times
- Trump Has Made Himself Commander in Chief of the Chip Industry — President Trump has become the semiconductor sector’s leading decision maker, from new fees on exports to China to a brief demand for a C.E.O.’s firing.
- Beijing Evacuated Thousands Before Deadly Floods, but Not a Nursing Home — The recent flooding that killed 31 in a single nursing home exposed flaws in emergency planning as China braces for more extreme and unpredictable weather.
- Pakistan Is in Trump’s Good Graces, but for How Long? — President Trump hosted the South Asian nation’s army chief and seeks deals on critical minerals and crypto. But Pakistan is also tightening its military partnership with China.
- Philippines Condemns China After South China Sea Collision Captured on Video — Footage shows a Chinese coast guard vessel chasing a Philippine boat and then ramming a Chinese warship. It was the latest confrontation in the contested waters.
Caixin
- Curtain Falls on Evergrande as Hong Kong Delisting Looms Aug. 25 — China’s collapsed property giant says it will not be seeking a review of the decision.
- How China’s Crypto Ban Makes Disposing of Seized Assets a Lot Harder — Without an established legal route for selling cryptocurrency involved in criminal cases, law enforcement officials are left dealing with third parties lacking unified oversight and overseas exchanges with varying degrees of cooperation.
- Humanoid Robots Poised to Become a $14 Billion Industry Within a Decade — The sector is the ‘final evolution’ of robotics and could become a market larger than autos or mobile phones.
- Rising Car Exports Show China’s Automakers Committed to Overseas Markets — Shipments from January to July rose nearly 13% to 3.68 million, with new-energy vehicles accounting for more than one-third of the total.
- Opinion: China’s Biotech Boom Is Redefining Global Pharma — Within a few years, Chinese pharmaceutical firms have progressed from licensing Western innovations to developing blockbuster drugs. By Djoomart Otorbaev.
South China Morning Post
- Chinese military researchers seek to draw electronic warfare lessons from Ukraine jamming — Study on how satellite systems were blocked at the start of the war highlights ‘crucial implications’ for future warfare.
- Foreign firms created 25% of emissions from all companies in China over 20 years: study — Eastern coastal region had more economic gain while central and western inland areas ‘bore heavier environmental pressures’, researchers say.
- Opinion: How China seeks to distribute AI while US only wants to dominate — The next era of AI leadership won’t be decided by whose models are best – it will be decided by whose models are everywhere. By Jeffrey Wu.
Nikkei Asia
- Ford leans on CATL batteries in push into affordable EVs — US auto industry is ‘at a crossroads,’ CEO says of changing business landscape.
- China pressures Myanmar rebels in bid to lock down rare-earth supplies — Beijing sees minerals as key bargaining chip in tariff standoff with US.
- Jimmy Lai’s time ‘running out,’ son says, as trial draws to close — Jailed media mogul said to be frail, as family calls for West to help.
- Drama at sea in Philippines’ maritime clash with China — Documentary shows Beijing’s aggressive tactics in disputed waters.
- Japan offers noncombat drones to developing countries as China alternative — Initiative aims to attract new buyers and help expand domestic production.
Bloomberg
- China Came Ready for This Trade Fight, and the US Has a Lot to Learn — US dynamism gave it an edge in a free-trade world, but China has spent decades planning for the new reality.
- Bankers Risk US Backlash Over Chinese Funding Boom in Hong Kong — China has turned the city into a funding engine for mainland firms rushing to expand overseas.
- Bessent Dismisses China Investing in US as Part of a Trade Deal — The treasury secretary’s comments narrow the options for the two sides to resolve their running dispute.
- Opinion: The US-China Fight Over Panama’s Canal Has an Unexpected Winner — Thanks to its raised geopolitical profile, the Central American nation has a chance to leverage its strategic location, woo investors and revamp its economic model. By Juan Pablo Spinetto.
- Opinion: China Is Playing the Long Game on Trade. It’s Working. — Beijing is using the Mao-era strategy of “protracted war” to buy time with Washington. By Karishma Vaswani.
Reuters
- US embeds trackers in AI chip shipments to catch diversions to China, sources say — The measures aim to detect AI chips being diverted to destinations which are under U.S. export restrictions, and apply only to select shipments under investigation, the people said.
- China’s solar power capacity growth to slow in H2 after pricing reforms — Slowing growth in the world’s largest solar fleet is a fresh blow for solar manufacturers already struggling with massive overcapacity and a vicious price war.
- China targets two EU banks, retaliating to bloc’s Russia sanctions package — Effective immediately, Lithuanian banks UAB Urbo Bankas and AB Mano Bankas were banned from carrying out transactions with organisations and individuals within China.
Other Publications
- Foreign Affairs: China Is Winning the Cyberwar — America Needs a New Strategy of Deterrence.
- The Economist: How scared should you be of “the China squeeze”? — Xi Jinping masters the dark arts of the trade war.
- The Guardian: China’s crackdown on lavish civil servant perks will ‘harm’ the economy, experts warn — Updated regulations ban the country’s 40 million civil servants from lavish banquets, and restrict them from overseas travel for ‘personal leisure’.
