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 Ups Surveillance of Troubled People to Quell Rising Unrest — Communist Party’s new ‘society work’ agency helps with emotional and economic setbacks while monitoring dissatisfied people.
- The Ice Cream That Beat Costco’s Hot Dog as the Best Money Loser in Business — Chinese chain refines the modern science of the loss leader.
- Chinese, Russian, Indian Leaders Pledge Cooperation, in a Message to Trump — While many outstanding problems remain, the summit highlights difficulties of Washington’s attempt to redraw the world order.
- Xi Revisits WWII to Boost China in Great-Power Rivalry With U.S. — Communist Party uses celebration of 1945 victory to promote Beijing’s global standing and claim to Taiwan.
- EV Maker NIO Misses Earnings Expectations — EV Maker NIO Misses Earnings Expectations.
- China Factory Activity Gauge Signals Rebound in Manufacturing — The renewed expansion in manufacturing activity was supported by increasing new orders.
- Opinion: We Have Met the Enemy and He Isn’t Us — Can Americans stop fighting each other long enough to appreciate the threat from China? By Rahm Emanuel.
- Opinion: Export Controls Failed? China Begs to Differ — Sending U.S. GPUs to our foremost geopolitical adversary is neither sensible nor strategically essential. By Rush Doshi and Chris McGuire.
The Financial Times
- Xi outlines China’s ambition to reshape world order in showpiece summit — Shock-and-awe ‘victory day’ military parade this week seeks to recast second world war narrative.
- U.S. chipmaking curbs hit Samsung and SK Hynix — Shares fall after Washington revokes waivers that let South Korean groups send equipment to China without a license.
- Homegrown robots help drive China’s global export surge — Economists say low-cost automation could explain why country maintains low-end manufacturing even as wages rise.
- Russia and China sign deal to build new gas pipeline in Siberia — Agreement signals increasingly close partnership between Moscow and Beijing.
- China rules business must help pick up pension bill as population ages — Companies are struggling to adjust to a legal move that enforces contributions from September 1.
- Xi and Modi say they are ‘partners not rivals’ in bid to repair ties — Donald Trump’s trade war drives rapprochement between world’s two most populous countries.
- China’s stock market outpaces global peers as local investors pile in — CSI 300 has rallied more than U.S. and European indices this year, even as foreign investors stay away.
- Trump ‘proposed Chinese peacekeepers’ for Ukraine — U.S. president endorsed idea first pitched by Moscow, say people briefed on situation. White House denies the comments were made.
- Chinese renminbi strongest against dollar since Trump’s election win — Rally comes after years of weakening and is seen as signal that Beijing will allow gradual appreciation.
The New York Times
- Xi, Putin and Modi Try to Signal Unity at China Summit — Their display of friendship in China was aimed at projecting an alternative to U.S. global leadership, even as serious differences among them remain.
- India Was the Economic Alternative to China. Trump Ended That. — A lurch in policy has shaken the India-U.S. economic alliance against China, leaving India little choice but to consider reversing its own strategy.
- America Closed Malls, but China Kept Building Them. Now It Has Too Many. — The first closing of an Apple Store in mainland China hints at broader troubles facing the country’s shopping malls as developers open more of them despite a glut.
- Xi Uses Summit, Parade and History to Flaunt China’s Global Pull — With the leaders of Russia and India visiting, China’s president will show how he can use statecraft, military might and history to push for global influence.
- Trump Takes Aim at South Korean Chipmakers’ China Operations — The U.S. said Samsung and SK Hynix could no longer ship American equipment to their production facilities in China without government licenses.
- China Rekindles Wartime Fury, Stirring Fears of Anti-Japan Hate — A series of World War II dramas about China’s fight against Japan is drawing audiences to their feet, and, in some cases, to tears. Some say it helps deflect public discontent.
- Why China Is Trying to Tame Its Electric Car Frenzy — Beijing has run out of patience with companies slashing prices, and is urging restraint. But fierce competition is also producing a surge of innovation.
- Opinion: The One Danger That Should Unite the U.S. and China — The U.S. and China must agree on a trust architecture for A.I. devices, or else rogue entities will destabilize these two superpower nations long before they get around to fighting a war. By Thomas L. Friedman.
Caixin
- China’s Factory Exodus Is Turning Vietnam Into the World’s Assembler — Tariff gap is attracting businesses, but that could vanish in a single political decision.
- CICC Picks Company Veteran as New President — Wang Shuguang has played a pivotal role in expanding the investment bank’s target clients from state-owned enterprises to private companies and startups.
- End of U.S. Tax Exemption Hits Chinese Air Cargo Carriers Differently — China’s major air cargo carriers are chasing growth in Europe, Southeast Asia and niche cargo, after the U.S. scrapped its duty-free treatment for packages under $800.
- China Rolls Out Subsidized Consumer Loans to Boost Spending — Policy aims to cut consumer loan rates as low as 2%, covering purchases from cars to healthcare.
- How Chinese Manufacturing Turned Bac Ninh Into a Vietnamese Boomtown — The northern city has become one of the country’s key industrial hubs after repeated U.S. tariff hikes pushed Chinese companies to move more production offshore.
South China Morning Post
- As U.S. adds more semiconductor hurdles, Chinese firms could seize an opportunity — Washington’s latest move marks another development in the ever-intensifying tech race between the rival superpowers.
- Why Chinese students are flocking to Southeast Asia for degrees, employment — With Europe and the U.S. growing expensive, more Chinese students are opting for Malaysia, Thailand or Indonesia for education and employment.
- Geoffrey Hinton on preventing an AI takeover and the ‘very worrying’ China-U.S. tech race — The ‘godfather of AI’ discusses the risks of the technology and whether superpowers can find common ground to rein it in.
- ‘Historical evolution’: China’s shipping firms pivot amid looming U.S. port fees — The shipping industry is undergoing ‘unprecedented’ changes as the U.S. prepares to hit Chinese-linked vessels with steep levies.
Nikkei Asia
- China’s global market share shrank in cloud services, telecom amid U.S. curbs — Real estate slump weakens appliance sales at home.
- China’s rare-earth miners back in black after export curbs buoy prices — Share values rise but U.S. trade war and rising competition cloud outlook.
- Hong Kong stablecoin law opens door to yuan-backed token — Move seen as challenge to U.S. dollar dominance, though Beijing remains cautious.
- China’s Roomba killers sweep up in vacuum market despite U.S. tariffs — U.S. robot pioneer on brink of default as Chinese brands expand rapidly.
- BYD, Leapmotor to produce EVs in ‘promised market’ Malaysia — Foreign makers rush to country sets target of 50% adoption by 2040.
Bloomberg
- Alibaba’s AI Revenue Surge Triggers $50 Billion Stock Rally — The AI element helps explain why Alibaba’s stock has easily outpaced its more commerce-reliant rivals this year.
- China’s Aluminum Factories Are Changing to Escape a Crushing Price War — The combination of an ailing property sector and excess supply has left companies battling to move up the supply chain.
- China-Led Bloc Agrees to Set Up Development Bank in Win for Xi — While the top Chinese diplomat gave no further details, the agreement marks a win for Beijing, which had sought to create such a bank since as early as 2010.
- Xi Vows More Investments to Boost SCO — China will provide $275 million in grants to member states of the Shanghai Cooperation Organization this year and billions more in loans.
- Opinion: It’s a Strongman’s World and We’re Just Living in It — Today’s autocrats and illiberal leaders aren’t just remaking their nations — they’re seeking vast influence in global affairs. By Hal Brands.
Reuters
- China’s Xi pushes a new global order, flanked by leaders of Russia and India — The Shanghai Cooperation Organization summit is a direct challenge to the United States.
- Chinese companies turn to generics as shipments behind U.S. weight-loss craze fade — At least eight Chinese companies helped flood the U.S. with raw semaglutide and tirzepatide, the main ingredients in Wegovy and Zepbound.
- China’s CATL sells stake in Finnish subcontract car manufacturer — The Finnish government said the stake sale came amid “a challenging market situation” due to the “slower-than-predicted pace of electrification.”
Other Publications
- The Washington Post: Beneath China’s display of military might, a far-reaching corruption purge — China’s Xi Jinping will show off his newest weapons at a huge military parade. But there are signs he’s unhappy with efforts to overhaul the army — and rival the U.S.
- Rest of World: China’s chip startups are racing to replace Nvidia — Tapping investor interest and ex-Nvidia talent, China’s AI chipmakers are seizing openings created by U.S. export controls.
- BBC: China’s navy is expanding at breakneck speed and catching up with the U.S. — President Xi Jinping’s China certainly wants to rule the waves. Whether it will is the question.
- Foreign Affairs: Beijing’s Dangerous Game in Tibet — How Controlling the Dalai Lama’s Succession Could Backfire.
