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. Investors, Trump Close In on TikTok Deal With China — Oracle, Silver Lake and Andreessen Horowitz are part of consortium that would control 80% stake.
- China’s Message on Nvidia: We Have Leverage Too — With TikTok deal getting closer, Beijing signals it wants a further deal over U.S. technology.
- See How China Is Dominating the Global EV Market — Made-in-China electric vehicles can cost thousands of dollars less than U.S. or European models and now make up more than half of global sales.
- U.S. Importers and Exporters Fret Over Port Fees on Chinese Ships — Worries come despite carriers’ saying they don’t plan to pass on the costs of levies set to take effect in October.
- Fundraising Frenzy, AI Buzz Fuel Chinese Tech Rally — Heavy investing by Baidu, Alibaba and Tencent in AI and advanced chips are bearing fruit.
- Chery Seeks to Raise Up to $1.2 Billion in Hong Kong IPO — The Chinese automaker plans to start trading on the Hong Kong stock exchange on Sept. 25.
- Tencent Plans $1.27 Billion Debt Issuance — The WeChat operator plans to issue notes in three tranches.
The Financial Times
- EU companies suffer renewed China rare earth licence delays — Chamber urges Beijing to lower trade barriers as businesses suffer bottlenecks over critical minerals.
- China trials its first advanced tools for AI chipmaking — SMIC tests domestically made machinery as Beijing seeks to rival U.S.-made processors.
- Disney, Universal and Warner launch copyright lawsuit against Chinese AI company — Disney, Universal and Warner Bros Discovery claim MiniMax engaged in ‘wilful and brazen’ violations.
- China bans tech companies from buying Nvidia’s AI chips — Beijing steps up efforts to boost semiconductor independence and compete with U.S.
- China lifts exit ban on Wells Fargo banker — U.S. citizen Chenyue Mao had been restricted from leaving country under opaque measure for several months.
- China’s delayed payments fuel UN funding crisis — Beijing’s overdue settlements are getting later every year, FT analysis shows.
The New York Times
- Trump Delays TikTok Ban Again as a Deal Takes Shape — As President Trump extended for a fourth time a deadline to determine TikTok’s future in the United States, details of an agreement to address concerns about the app began to emerge.
Caixin
- R&F Sells Changsha Hotel at 30% Discount as Luxury Portfolio Begins to Unravel — The $72 million auction kicks off a liquidation battle between Chinese lenders and offshore creditors as the developer buckles under $37 billion in liabilities.
- Beijing Lifts Property Investment Curbs for Foreign Firms — Beijing unveils new forex reforms to simplify cross-border reinvestment, expand homebuying access for overseas firms, and bolster China’s push to stabilize foreign capital flows.
- Intel Names New China Chief Amid Business Transition and Market Shifts — Wang Rui retires after nearly four years; Wang Zhicong takes over as Intel contends with China’s chip self-sufficiency drive and deepening global losses.
- BP’s Castrol Wants to Cool China’s Red-Hot Data Centers — Beijing’s stricter rules on power efficiency are creating opportunities for pricier, but more effective, liquid cooling solutions, executive argues.
South China Morning Post
- Hungry to expand, Chinese companies to dish out more dim sum bonds — U.S.-dollar bond issuance is set to fade as dim sum bonds become a central pillar of Beijing’s push to internationalise the yuan, asset managers say.
- China and Zimbabwe: from liberation struggle to ‘ironclad’ friendship — Emmerson Mnangagwa was one of only two African leaders at China’s military parade this month, highlighting close ties between the nations.
Nikkei Asia
- China fights online attacks and ‘slander’ hitting auto industry — BYD and others combat social media videos, some tied to rivals.
- Chinese carmaker Chery aims to raise $1.2bn in Hong Kong listing — State company looks to fund EVs, global growth amid domestic price war.
- TikTok Shop aims to double sales in U.S. despite ban threat — Beijing and Washington could seal deal for TikTok’s American operations on Friday.
Bloomberg
- Why China’s Tech Giants Have Gone on an AI Fundraising Spree — They will need to spend billions to fund their aggressive expansion into AI.
- Empty Tables, Low Margins Show Cost of China’s Food Delivery War — Ultra-cheap deals force restaurants into a trade-off that both drives business and undermines it.
Reuters
- China is sending its world-beating auto industry into a tailspin — The glut of vehicles has created lose-lose transactions throughout the sales chain, and spawned a variety of unusual practices.
- China issues more export quotas for gasoline, jet fuel and diesel, sources say — Year-to-date quotas are still below last year.
- What hurdles lie ahead for any U.S.-China TikTok deal? — Officials expect the final deal to be very similar to what was anticipated under the previous deal outlined in April.
Other Publications
- The Atlantic: Trump Isn’t Interested in Competing With China — To see how the president is losing ground to Beijing, consider his disastrous relationship with India.
- POLITICO: Dave McCormick: ‘We should be deeply worried’ about China’s AI dominance — The Republican senator said the U.S. can beat out China in the artificial intelligence race — but only if it prioritizes investment.
- Foreign Policy: How to Stop China’s AI Chip Smuggling — Trump should strike a deal with Southeast Asia to secure imported U.S. AI chips.
- The Guardian: ‘Everyone should be worried’: life in the crosshairs of China’s ‘Guam killer’ missiles — The big Beijing military parade included new weaponry that analysts say could potentially threaten the U.S. Pacific territory.
