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
- U.S. Reaches Outline of TikTok Deal With China — Beijing likely agreed to framework to keep alive China’s desire for a Trump visit.
- China’s Hesai Makes Strong Trading Debut in Hong Kong — Shanghai-based Hesai produces lidar sensors that help cars sense their surroundings.
The Financial Times
- Top sensor maker Hesai warns world not ready for driverless cars — Co-founder takes ‘conservative’ view on fully autonomous vehicles as shares rise 11% in Hong Kong listing.
- Beijing says TikTok’s U.S. app will use Chinese algorithm — Security hawks have raised fears recommendation code could be manipulated to push propaganda.
- Tencent starts bond sale as China tech groups race to fund AI growth — WeChat operator plans to issue renminbi-denominated debt.
The New York Times
- How China Is Weathering the Trade War With Trump — Tariffs triggered a plunge in China’s exports to the United States, but its global trade surplus is larger because sales to other regions are surging.
- With a Hashtag, Young Chinese Are Mourning the ‘Beauty of the Boom Years’ — Nostalgia for the fashion and culture of the years after the millennium, when the future held promise for many, is a commentary on today’s mood.
Caixin
- Exclusive: Bond Connect Trading of Offshore Yuan Bonds Won’t Affect QDII Quotas — Four types of Chinese mainland-based nonbank financial institutions to be added to the program will be able to buy the bonds in Hong Kong without using the quotas, sources say.
- Asia’s Green Transition Needs More Investment, Policy Support, Industry Leaders Say — Limited funding, inadequate government support and gaps in carbon accounting are hindering climate efforts, speakers said at the Asia New Vision Forum.
- XPeng Partners With Magna to Build EVs in Europe — Facing rising trade barriers, XPeng begins local production in Austria to stay competitive in the EU’s fast-growing electric-vehicle market.
South China Morning Post
- Why younger Europeans can see their futures in China, despite the obstacles — As China ramps up its search for foreign tech expertise, a new generation of talent finds its perspectives on the country are changing.
- Player or playground? Europe sidelined again as U.S., China cut deals on its soil — While the Europeans were not at the table in Madrid, there is a sense that they were most definitely on the menu.
- Nvidia sees tepid demand for RTX6000D AI chip from Chinese tech firms: sources — The chip, mainly used for AI inference tasks, is seen as expensive for what it does, two people with knowledge of purchasing discussions say.
- Is Taiwan’s military ready for its overdue arms deliveries? — Backlog of billions of dollars’ worth of U.S. weapons including tanks, drones set to arrive next year, boosting island’s defence capacity.
Nikkei Asia
- China housing slump persists with prices down 11% from recent peak — Policy efforts do little to fix downturn since 2021, squeezing municipal finances.
- China unveils measures to boost services consumption and growth — After weak economic data, officials aim to promote events, travel, health care.
Bloomberg
- Jack Ma Returns With a Vengeance to ‘Make Alibaba Great Again’ — China’s most recognizable entrepreneur is back, making bold bets and pushing AI.
- What’s the Labubu Craze All About? How Long Can It Last? — A small toy monster with a toothy grin that costs $30 has taken the world by storm — and landed the toy company’s founder a $21.4 billion jackpot. But there are signs the hype may be fading.
- Mexico Tariff Plan Is Stopping Chinese Investment, Says Chamber — Chinese funding is expected to slow in Mexico’s automotive sector, auto parts and metallurgy industries.
Reuters
- China’s $19 trillion stock market, once called uninvestable, lures foreigners again — The changing sentiment of foreign investors could potentially add fuel to the market rally, which has so far been mainly driven by domestic players.
- China steel exports poised for record high, risking further tariff backlash — Record exports underscore how its steelmakers and traders need new markets for metal that can no longer be absorbed at home.
- U.S. targets China’s grip on global ports in sweeping maritime mission — The drive is part of the most ambitious effort to expand U.S. maritime influence since the 1970s.
Other Publications
- POLITICO: In Congress, China hawks want scrutiny of Trump’s TikTok deal — A few members of the GOP are still taking a hard line on Trump enforcing a sale or ban of the popular app.
- The Economist: The brutal fight to dominate Chinese carmaking — Pity Ford, VW and other Western manufacturers.
- The Guardian: ‘I have to do it’: Why one of the world’s most brilliant AI scientists left the U.S. for China — In 2020, after spending half his life in the US, Song-Chun Zhu took a one-way ticket to China. Now he might hold the key to who wins the global AI race.
- Hunterbrook: BrainCo: The “Harvard” Startup That Became A “Little Dragon” in China — With Brain Data From U.S. Olympians and Schoolchildren — BrainCo has been funded by the Chinese government to power its neural technology arms race against the United States.
- CFR: China is Becoming a Military Power in Southeast Asia in More Ways Than People Think — China’s growing share of arms exports to Southeast Asia and South Asia has contributed significantly to its growing influence in the two regions.
