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
- Eli Lilly, InSilico Strike AI Drug Discovery Deal — Hong Kong-listed InSilico sad the deal could be valued at as much as $2.75 billion.
- Courting Trump and Fearing China, Japan Rethinks 80 Years of Pacifism — More Japanese say defense spending should be increased to safeguard their country and deter aggression in the region that surrounds it.
- How Trump’s Tariffs Are Choking U.S.-China Trade — The Chinese share of American imports has dropped to the lowest level since 2001, but overall U.S. trade deficit has risen.
- Opinion: Trump’s Gift to the IMF and China — A U.S. quota increase will do more for Beijing than for America. By The Editorial Board.
The Financial Times
- China cracks down on ‘bone ash’ burials in empty apartments — Younger tenants do not mind dead neighbours if it drives down rents in a building.
- Eli Lilly to sign $2bn deal for AI drug development with Hong Kong biotech — Global pharmaceutical companies are aggressively searching for new medicines in China.
- U.S. senators to urge passage of defence bill in visit to Taiwan — Trip by bipartisan lawmakers shows support in face of rising Chinese pressure.
- China retaliates against US trade probes ahead of Xi-Trump talks — Move marks escalation in tensions in run-up to much-anticipated May summit in Beijing.
- Opinion: The Iran war will cement China’s superpower status — Beijing’s industrial prowess positions it for economic and diplomatic gains. By Tej Parikh.
The New York Times
- Xi Invites Taiwan’s Opposition Leader to Talk ‘Peace’ Ahead of Trump Summit — The planned visit by Cheng Li-wun appears designed to show Beijing’s influence and convey a benign message ahead of the summit with President Trump.
- Gao Zhen, a Chinese Artist Accused of Mocking Mao, Goes on Trial — Gao Zhen, who emigrated to the United States years ago, was arrested during a visit to China and now faces up to three years in prison for artwork.
Caixin
- China’s Net Overseas Assets Jump 28% to $4 Trillion — Current account surplus flows into outbound investment, lifting China to the world’s No. 2 net creditor position.
- China’s Former ‘Iron Lady’ IPO Gatekeeper Faces Graft Charges — Ex-regulator accused of taking bribes and influencing stock offering reviews as scrutiny of regulator-industry ties deepens.
- China Targets Income Growth to Rebalance Its Economy — Faced with weak consumer spending despite rising GDP, Beijing is targeting a lopsided income distribution system to put its economy back on course.
- China Weighs Lower Cap on Life Insurance Return Projections — Proposed cut to illustrated rates reflects push to curb risks and align payouts with falling yields.
- Shanghai Pioneers New Pathways to Put China’s Aging Population Back to Work — Facing mounting pension burdens and labor shortages, some Chinese cities are rolling out policies to turn a growing elderly demographic into a new workforce dividend.
South China Morning Post
- How China is stepping into the cultural repatriation void left by a retreating U.S. — As the United States steps back from cultural governance, China aims to reshape how the world reclaims looted heritage — with Japan its biggest test.
- EU’s flagship Africa project under fire over ties to Chinese state-owned firms — Lawmakers demand to know where over U.S.$2.3 billion in funds is going in venture meant to wean off Beijing’s critical minerals chokehold.
- Jiang Xueqin, the viral ‘prophet’ predicting the world’s fate from a Beijing classroom — ‘Professor Jiang’ has been dubbed ‘China’s Nostradamus’ after forecasting Trump’s election win and the war with Iran. But some of his ideas veer into conspiracy theory.
Nikkei Asia
- China’s big banks eye profit relief but face new pressures from war, policy — Deposit repricing, abating rate pressure buoy outlook; fee rules, Iran turmoil sow doubts.
- Huawei poaches top German scientist, as scholars blame academic system — Lawmakers call for tighter rules over fears of Chinese tech know-how theft, sabotage.
- China chip sector targets 80% self-sufficiency with U.S. in its sights — Asian giant’s ambitions include creating homegrown version of Dutch lithography giant ASML.
Bloomberg
- China Summons US Envoy to HK Over Alert on Security Law Changes — Beijing summoned the US’s top envoy to Hong Kong after the consulate posted an alert about new rules giving authorities power to demand passwords for smartphones.
- Why China Is Investigating US Green Tariffs Ahead of Trump’s Visit — After years of tariffs on Chinese clean technology, experts say Beijing’s move is meant to send a signal to the U.S.
- Opinion: China Can Win Big With ‘Little Treats’ — China may struggle to sell its goods abroad due to the Iran war and potential global recession, prompting investors to look for resilient market segments. By Shuli Ren.
Reuters
- Nike’s China stumble exposes execution gaps — At the same time, Nike is losing ground to fast-rising domestic rivals Anta and Li Ning, which have capitalised on agile supply chains and vast store networks to push competitively priced products.
Other Publications
- CFR: China Is Planning Decades Ahead on Clean Energy. The U.S. Has Other Priorities. — China’s national legislature has approved a blueprint for building on its lead in the carbon-free energy sources that are vital worldwide as the climate warms.
- Foreign Affairs: What the Iran War Means for China — Beijing Fears American Volatility More Than American Power.
- The Economist: China’s leadership is about to be shaken up — The changes will affect every level. Except one.
- BBC: Why Chinese tech companies are racing to set up in Hong Kong — Last year, the number of mainland Chinese firms listing on the Hong Kong Stock Exchange increased to 76, up from 30 in 2024, an increase of 153%.
