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
- Germany Shows How Difficult It Is to Rewire Relations With China — Chancellor Merz is trying to set new tone with Beijing to parry pressure from the U.S.
The Financial Times
- Friedrich Merz meets China’s Xi Jinping as trade tensions mount — German chancellor calls on Beijing to appreciate currency, cut subsidies and reduce industrial ‘overcapacity’.
- Shein founder emerges from shadows to hail Chinese roots — Xu Yangtian says help from Communist Party and regional province was vital to fast-fashion retailer.
The New York Times
- Xi’s Purges of China’s Military Run Deep, New Study Shows — Around 100 senior officers have been sidelined or vanished since 2022, hollowing out the top ranks and raising questions about the army’s capabilities.
- Germany’s Leader Heads to China and Walks a Tightrope Between Xi and Trump — Chancellor Friedrich Merz’s trip will test his ability to address tensions between the countries, at a time of strain between Europe and Washington.
Caixin
- China’s Spring Festival Spending Rebounds on Stimulus Boost — China’s consumer spending rebounded during this year’s Spring Festival break, buoyed by an extended holiday and fresh government stimulus.
- Over Half of China’s Provinces Cut Revenue Targets — More than half of the Chinese mainland’s provincial-level regions have lowered their fiscal revenue growth targets for this year.
- Opinion: How Chinese Exporters Can Leverage the U.S. Supreme Court Tariff Ruling — For Chinese exporters and U.S. importers, the decision provides immediate tactical advantages in three key areas: litigation leverage, contract arbitration and strategic planning. By Ding Jie.
South China Morning Post
- IMF urges China to prioritise consumption-led rebalancing, curb industrial policy — Global monetary body calls on Beijing to roll out more forceful fiscal stimulus to bolster domestic demand amid record trade surplus.
- China’s new energy strategy aims to shield economy from shocks – and meet climate targets — Beijing will prioritise energy security through large-scale projects and greater regional self-reliance, as risks mount at home and overseas.
- US warns of deep distrust even as officials seek stable China ties for summit — Congressional hearings reflect bipartisan concern and highlight persistent advanced tech market tension as key Trump-Xi summit looms.
- Shenzhen dethrones Shanghai, Beijing as China’s top industrial powerhouse, mayor boasts — Leading in R&D density, AI innovation and start-up cultivation, Shenzhen is building a full-stack AI ecosystem, according to the mayor’s annual work report.
- EU too slow to act as China rewrites global trade rules, trade chief Sefcovic warns — Commissioner calls for faster trade probes and WTO reform as Brussels confronts overcapacity, subsidies and a US$424 billion deficit.
Nikkei Asia
- China’s DJI sues to challenge US ban on drone imports — Chinese drone maker on FCC’s entity list that bars new models and parts.
- China aims for 5-fold increase in advanced chip output to meet AI demand — Backed by Beijing, Huawei and SMIC lead efforts on 7-nm and 5-nm-like production tech.
- Japan trading house industry calls China export curbs a ‘global challenge’ — Chairman of industrial body says disruption can affect consumers :in US, Europe.
- HSBC beats profit estimate despite China investment, Hong Kong bad loans — Lender aims to generate $900m by 2028 through Hang Seng Bank privatization.
Bloomberg
- Shanghai Eases Homebuying Rules in Latest Property Relief — China’s financial hub of Shanghai eased homebuying rules, the latest attempt by authorities to contain the nation’s prolonged property slump.
- Merz Brings Big Business Group to China in Bid to Improve Ties — Premier Li Qiang and Friedrich Merz both indicated they’d like relations between their nations to improve.
- Nvidia Has Sold Zero H200s to China, Top US Export Enforcer Says — The US is boosting efforts to crack down on smuggling of advanced semiconductors used in AI.
- China’s $112 Billion Cargo Gap Shows Record US Tariff Evasion — Phantom importers, sky high tariffs and suspiciously cheap shipping offers are fueling a surge in trade fraud.
- Opinion: China’s Gold Rush Comes to Xi’s Tariff-Free Paradise — Hainan has become a shopping paradise for those who believe in the beauty of gold, with most goods now entering with zero tariffs and residents granted duty-free shopping of 10,000 yuan per year. By Shuli Ren.
Reuters
- Germany wants deeper, fairer economic ties with China, Merz tells Li — China and Germany want to deepen cooperation, German Chancellor Friedrich Merz and Chinese Premier Li Qiang said in Beijing on Wednesday.
- Solar dominates import seizures after US ban on Chinese forced labor goods — Solar panels make up the vast majority of the value of shipments stopped at the U.S. border under a 2021 law banning goods made with Chinese forced labor.
- ByteDance valued at $550 billion in proposed share sale by General Atlantic, sources say — Deal will be first major share sale since ByteDance concluded US TikTok deal.
- Founder of China’s JD.com launches yacht brand — Richard Liu has launched an independent yacht brand, Sea Expandary, aiming to build “100% green” yachts that will be affordable for ordinary households.
- Opinion: Congo’s cobalt curbs expose China’s critical metals weak spot — China’s dominance of critical mineral supply chains is not as absolute as it may appear. By Andy Home.
Other Publications
- Axios: Chinese law enforcement tried using ChatGPT to discredit Japan’s PM, OpenAI says — OpenAI has banned a ChatGPT account linked to Chinese law enforcement which tried to use the AI chatbot to undermine support for Japan’s prime minister.
- The Washington Post: Trump tariff chaos gives Beijing a win before Xi meeting — Supreme Court decision spiking Trump’s tariffs may undermine the White House’s China strategy weeks before the two leaders are expected to meet.
- China Media Project: Projecting Light in the Shadows — The shuttering of New York’s IndieChina film festival sent ripples through the independent screening ecosystem for Chinese films globally. Meet the volunteers keeping the spirit of independent film alive.
- Dialogue Earth: China’s new renewables pricing mechanism may not give generators the stability they need — As subsidies for renewables are phased out, market distortions mean renewables still can’t stand on their own feet, writes Zhang Shuwei.
- The Economist: How to get rich in modern China — Some of the country’s brightest are cashing in on a state-backed surge.
- ChinaPower: The Purges Within China’s Military Are Even Deeper Than You Think — Over the last few years, Chinese leader Xi Jinping has waged an internal political war within his own military.
