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
- Leaders of AI Firm Bought by Meta Are Restricted From Leaving China — Beijing is weighing penalties for key figures at Manus, a Singapore startup with Chinese origins.
- As China Encroaches, Even New Zealand Is Getting Serious About Its Military — Billions will be spent in the coming years—including on missiles, drones and base upgrades—as the remote country squares up to a widening threat.
The Financial Times
- China reviews $2bn Manus sale to Meta as founders barred from leaving country — Deal scrutiny deepens over official fears of strategic tech flowing overseas.
The New York Times
- Russian Oil Shipment Puts Focus on Kremlin Spy Outpost in Cuba — Moscow may be challenging President Trump’s effort to choke Cuba’s economy. China also has suspected listening posts on the island.
Caixin
- CCB May Add Party Official as China Tightens Financial Oversight — Move would make it the last of China’s ‘Big Four’ banks to establish the role.
- WeRide Announces $100 Million Buyback as 2025 Revenue Surges 90% — Autonomous driving firm’s net loss shrinks by a third as it expands its self-driving fleet and finds profitability in Middle East markets.
- Mixue Profit Jumps as China Store Boom Offsets Overseas Pullback — Beverage chain adds nearly 13,800 net stores at home; management says foreign retrenchment reflects a new phase of optimization, not weaker demand.
South China Morning Post
- US, China ‘disjointed’ on AI, but collaboration is possible: Silicon Valley tech founder — High stakes push countries to protect sovereign capabilities and data amid global yet fragmented industry, Stanford lecturer says.
- Can Taiwan fulfil its Asia-Pacific drone hub goal with a ‘non-red’ supply chain push? — Plan is to invest US$1.38 billion between 2025 and 2030 for uncrewed systems industry, but questions linger over scale, politics and timing.
- Why a global private-credit meltdown would hit China hard — It could leave emerging economies scrambling for financing just as their repayment obligations to Chinese lenders mount. By James David Spellman.
Nikkei Asia
- China oil demand to approach peak this year, CNOOC economist says — Middle East crisis may accelerate shift in world’s largest crude importer.
- India’s trade deficit with China set to cross $100bn for first time — Growing manufacturing in most populous nation heavily reliant on inputs from second biggest.
- G7 leaders seek summits with Takaichi as they try to balance China, US ties — Japan seen as leading partner to foster cooperation through common values.
Bloomberg
- US Worried by Rise in ‘Foreigner Butchering’ Scams From China — The US is increasingly concerned about “foreigner butchering” scams allegedly being run from China, adding another wrinkle to President Trump’s planned meeting with Xi Jinping.
- China Emerges as Debt-Funding Hub for Foreigners During Iran War — Yuan bond issuance by foreign borrowers surged in China, eclipsing the momentum of fundraising offshore and highlighting the appeal of a local market less affected by the Iran war.
- China’s AI Stocks Gain as State Media Tout Rising Token Usage — Chinese artificial intelligence service stocks rallied after state media highlighted a sharp increase in domestic AI model adoption and a surge in token usage they generate.
Reuters
- China AI labs face growing open-source dilemma — Keeping more Chinese innovations behind closed doors may even suit officials in Beijing, who are increasingly anxious that the country is losing its best and brightest entrepreneurs.
Other Publications
- Carnegie Endowment for International Peace: Implementing the Biden Administration’s China Strategy — At the heart of Biden’s approach to China was the consolidation of a framework for strategic competition with an eye toward coexistence.
- CSIS: China’s Localization Drive in Semiconductors Gains Impetus from Allied Chip Export Controls — Export controls are inadvertently catalyzing a more unified, urgent, and technologically ambitious push toward semiconductor autonomy.
