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
- The City Leading China’s Charge to Pull Ahead in AI — Money, talent and entrepreneurial spirit have turned DeepSeek’s hometown into a global AI hub.
- China Pushes for Trump Visit as High-Stakes Trade Talks Begin — Fate of TikTok in U.S. also sits at center of U.S.-China negotiations in Madrid this week.
- Apple Postpones iPhone Air’s Release in China — The company is awaiting regulatory approval for its new, thinner iPhone model in its second-largest market.
- Whirlpool Tells U.S. Authorities Its Rivals Could Be Evading Tariffs — Citing federal data, company says declared customs value of numerous appliances from overseas started to plummet in June.
- China’s Economy Shows Signs of Summer Slowdown — Broad slowdown hits world’s second-largest economy as trade uncertainties loom, property sector weakens.
- China Says Nvidia Violated Antitrust Law — Regulator hasn’t said whether it will punish the U.S. company.
- Zijin Mining’s Gold Unit Plans Hong Kong IPO as Precious Metal Shines — Zijin Gold International is planning to start trading on the Hong Kong exchange.
The Financial Times
- U.S. urges G7 to impose up to 100% tariffs on China and India over Russian oil — Finance ministers discuss Washington’s proposal aimed at pushing Moscow to agree Ukraine peace deal.
- Tariffs and fentanyl question cloud prospect of Trump-Xi summit in Beijing — The US has not yet accepted an invitation from China as progress stalls between the geopolitical rivals.
- China running out of rubbish to burn as waste power goes into overdrive — Shrinking population and economic slowdown leave some of country’s 1,000 plants idling or raiding landfills.
- UK drops charges against two men accused of spying for China — Prosecutors had filed charges last year against the two for ‘providing prejudicial information’ to China.
- Pop Mart shares decline by most since April as Labubu shine starts to fade — Toy company’s stock falls amid concerns about faltering resale market.
- China says Nvidia violated antitrust law for Mellanox acquisition — Regulator’s statement comes as U.S. and Chinese officials meet in Madrid for talks.
- China’s curbs on metal germanium create ‘desperate’ supply squeeze — Prices for material used for thermal imaging systems in military equipment at 14-year high.
- Can China stop its EV price wars? — Carmakers fear falling behind on scale and technology even as profit margins drop and officials lambast extreme discounting.
- China’s economy shows signs of slowdown as U.S. trade war weighs — Retail sales and factory output growth hit lowest rate in 9 months amid mounting domestic weakness.
- Maison Dongliang, a style sanctuary in Shanghai — Fashion and homeware in a historic villa make for a unique shopping experience.
The New York Times
- U.S. and China to Resume Talks on Tariffs, TikTok in Madrid — Economic officials meeting in Madrid will seek to head off a November tariff deadline.
- Nvidia Broke Antitrust Law, China Says, as Tensions With U.S. Mount — Chinese regulators, on a day of U.S. trade talks, said that an acquisition by Nvidia had violated antimonopoly regulations.
- China’s Snub of U.S. Soybeans Is a Crisis for American Farmers — The decision has had devastating repercussions for farmers in North Dakota.
- Opinion: Here’s How Trump Can Prevent a War Over Taiwan — The best bet would be to boldly seek a fresh deal with China. By Jennifer Kavanagh.
Caixin
- EV Suppliers Must Innovate and Find a Niche to Survive, Insiders Say — Firms need to cut costs and differentiate their offerings amid the industry’s brutal competition, panelists tell the Asia New Vision Forum.
- Chinese Sportswear Brand Anta to Open 1,000 Southeast Asia Stores — Company’s global strategy is moving from acquiring foreign brands to bringing its portfolio to overseas markets, executive tells Asia New Vision Forum.
- Carlyle, HongShan, EQT Among Final Contenders for Starbucks’ China Business — U.S. coffee giant plans to name new strategic partner by October as it faces shrinking market share and rising local competition on the Chinese mainland.
- Why Modi Won’t Play Cowboys and Indians With Trump, Opting Instead for Strategic Autonomy — As relations with the U.S. cool, Modi has been seeking warmer relations with China and Russia in a delicate balancing act.
- China’s Top Legislature Ousts Four More Generals in Widening Anti-Corruption Campaign — The move, which includes two members of the Communist Party’s Central Committee, brings the number of senior officers removed from the legislature to 20 in less than three years.
South China Morning Post
- China declares anti-dumping probe into U.S. analogue chips — Hubert Aiwanger, Bavaria’s minister for economic affairs, says state hosts around 500 Chinese companies that have created thousands of jobs.
- Immediate gratification: instant commerce transforms China’s retail market — Instant commerce has developed over a short period of time, as providers expanded their on-demand delivery coverage beyond food.
- Germany’s Bavaria welcomes Chinese investment, state minister says — Beijing also initiates anti-discrimination investigation over U.S. handling of Chinese semiconductors, a day ahead of latest trade talks.
- Cyberport may use Chinese GPUs at supercomputing centre, CEO says — Cyberport bought four GPUs made by different mainland Chinese chipmakers and has been testing them at its AI lab, CEO Rocky Cheng said.
- What will China’s travel warnings about the Philippines mean for business ties? — China has issued four travel advisories in five months, but Philippine police say serious crime is down 16.5 per cent this year.
Nikkei Asia
- Volvo ties give Geely’s Lynk & Co edge over Chinese EV rivals in EU — Swedish firm’s network reaches small towns in Germany where Lynk eyes growth first.
- China’s anime fans express devotion with custom gold charms, notebooks — Businesses tap into desire of enthusiasts to keep favorite characters close at hand.
- Japan to investigate undersea-cable supply chains for China exposure — Move comes after U.S. announces plan to ban Chinese equipment in maritime cables.
Bloomberg
- Shengjing Financial Raises Offer to Take Shengjing Bank Private — Shengjing Bank has been grappling with the fallout from its entanglement with the troubled developer China Evergrande Group.
- BYD’s $45 Billion Stock Wipeout Raises Doubts on China Outlook — Investors are losing patience with BYD’s strategy of taking the lead on deep discounts.
- Bessent Says China Made ‘Aggressive Asks’ as TikTok Deal Lingers — The U.S. and China enter their latest talks at a delicate diplomatic moment.
Reuters
- BYD and Tesla set to lose most from Mexico’s proposed tariffs on China — The levy has the potential to reshape North America’s fastest-growing car market and put the brakes on BYD’s meteoric rise in Mexico, analysts said.
- Trump to again push deadline on TikTok sale or divestment, source says — It would be the fourth reprieve from enforcement of a law that originally gave ByteDance until January 2025 to sell or shutdown the popular social media platform.
- Russia revives barter trade to dodge Western sanctions — Companies seeking to outfox Western sanctions swap wheat for Chinese cars and flax seeds for building materials.
- U.S. Democrats press Trump for a trade deal that curbs China’s production — It underlines the depth of concern about China in Washington, where bipartisan agreement is rare.
- China has yet to win the global power struggle — Pax Americana may be waning. But the future may not be Pax Sinica either.
Other Publications
- The Guardian: Chinese carmakers told to improve locking devices for UK market — UK insurers require critical modifications for sale in country with higher levels of car theft than China.
- The Information: How China’s CATL Keeps Trouncing Its Battery Rivals — Its executive Lingbo Zhu was scribbling on a sheet of paper last week, sketching out a lineup of batteries that no other company could match.
