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 Moonshot AI Raising Fresh Funds That Could Value It at About $4 Billion — The Beijing-based AI start-up is in talks with global investors, including investment firm IDG Capital, for the fundraise, which could total several hundred million dollars.
- Why China Still Can’t Tolerate Christians and Other Believers — Recent arrests highlight Beijing’s deep ideological hostility to religious life, which flourishes even in the face of repression.
- Opinion: China Has Nothing to Do With Its Money but Lend It — All that exporting requires capital outflow. But the West is becoming reluctant to allow equity investing. By Joseph C. Sternberg.
The Financial Times
- Starmer expected to approve China’s ‘mega’ embassy in London — PM likely to green light project despite concerns about Beijing’s efforts to spy on Britain.
- US ‘has Takaichi’s back’ in Japan’s escalating row with China — Ambassador offers Japanese PM ‘unshakeable’ support after Beijing imposes economic measures.
- Opinion: China and Japan’s unnecessary dispute — Beijing and Tokyo should both reflect on lessons from their recent row. By The Editorial Board.
The New York Times
- Japan’s Leader Gets Off to Rocky Start With China — Facing reprisals from Beijing for a remark over Taiwan, Prime Minister Sanae Takaichi must walk a fine line to prevent escalating the dispute without looking weak at home.
- Researcher’s Smuggling Arrest Casts Light on Dispute Over Chinese Students — As some lawmakers press U.S. universities to curtail ties with China, a postdoctoral student’s prosecution raises questions about how big the danger actually is.
- Opinion: America Is Setting a Trap for Itself — The United States, not China, seems determined to upend the global order. By Lydia Polgreen.
Caixin
- China Targets Drug Over-Prescribing to Curb Insurance Fraud — The national health insurance regulator aims to dismantle a ‘closed loop’ in which subsidized medications are sold to scalpers and funneled back to clinics for resale at full price.
- Chinese Carmakers Shift to ‘Asset-Light’ Models in Overseas Expansion — Competition among China’s automakers to win foreign drivers intensifies amid the global shift toward electric vehicles.
- Chinese Firm Pursues Hong Kong IPO Despite Costs Absorbing Nearly All Proceeds — IPO costs could eat up nearly 95% of proceeds as Quantgroup Holding races to list and shed investor redemption rights.
- Maersk Opens $141 Million Logistics Hub in Shanghai to Anchor Supply Chain Shift — New flagship facility in Lingang integrates bonded and non-bonded storage, reflecting China’s growing role in global trade.
- First Chinese-Made Trains for Malaysia’s East Coast Rail Link Roll Off Line — Flagship Belt and Road railway project reaches milestone as CRRC-built trains debut ahead of 2027 launch.
South China Morning Post
- Chief scientist at China’s top naval research institute detained over ‘faked’ credentials — Jiangsu University of Science and Technology says it has fired Guo Wei over the accusations of academic misconduct.
- US officials call for tougher chip rules to limit China’s gains — Lawmakers seek stronger BIS powers and more staff, saying Beijing could use one-year pause in export controls to advance domestic abilities.
- Is Beijing’s spat with Japan sending a message to US and allies over Taiwan? — The furious reaction may be a warning to other US allies such as South Korea and Australia not to change their Taiwan policy, analysts say.
- China, Russia generals pledge deeper military ties, eye missile defence cooperation — Zhang Youxia and Russian counterpart discuss collaboration ‘blueprint’ in Moscow as US pushes Golden Dome, nuclear weapons testing.
- Opinion: Beyond US-China decoupling, self-reliance is now a global movement — And despite opposing perspectives, it may reduce mutual dependence such as to assure a strategic peace of mind for both the West and China. By Ningrong Liu.
Nikkei Asia
- China’s Unitree forms joint venture to develop friendlier robots — Partnership with Star Plus Legend to tap character-based intellectual property.
- North Korea forges closer ties with Russia, China in quest for new power bloc — A year after sending troops to Ukraine war, Pyongyang’s reward seen as political, not economic.
- Opinion: China’s long road from property speculation to psychological security — Evergrande defaulted four years ago; Beijing still can’t reverse the downward spiral. By David Tingxuan Zhang.
Bloomberg
- Germany Keeps Doors Open in China But Has Nothing to Show for It — Lars Klingbeil’s attempt to reset German ties with China has done little more than showcase the weakness of Europe’s biggest economy in engaging with its Asian counterpart.
- China Starts $1.4 Billion Revamp of Mao-Era African Railway — Zambia initiated a $1.4 billion overhaul of a key railway, in a ceremony that marked the first visit by a Chinese premier to the country in almost three decades.
- Opinion: China Can’t Afford to Ignore Its Army of Gig Workers — Pivoting to a tech-driven growth model after the collapse of the property sector is sensible, but it may take years for industrial giants to mature enough to create enough jobs. By Juliana Liu.
Reuters
- Italy worried over Chinese stake in energy grids, officials say — China’s State Grid has told Rome its investment in Italian energy infrastructure is strategic, sources said.
- China warns citizens risk becoming ‘mining slaves’ in Central African Republic gold rush — Chinese nationals have been killed or kidnapped by armed groups and even their supposed business partners, while others were scammed out of large sums of money.
- China unleashes ‘wolf warriors’ in diplomatic duel with Japan — After new Prime Minister Sanae Takaichi said that an attack on Taiwan threatening Japan’s survival would trigger a military response, China has not slowed the momentum of the vitriol poured out on her.
Other Publications
- Foreign Policy: Nigeria Is Turning Into a U.S.-China Battleground — Trump’s threats leave Nigerians worried about superpower intentions.
- The Economist: How Chinese underground banks became the world’s biggest money-launderers — They connect rich Chinese, drug cartels and North Korean hackers—without anyone meeting.
- The Guardian: Brother Wang, a global manhunt and the Chinese-Mexican drug nexus — Alleged trafficker Zhi Dong Zhang escaped via a tunnel in Mexico before flying to Cuba and reportedly Russia but now finds himself on trial in a Brooklyn courtroom.
