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.
Paid subscribers automatically have this list emailed directly to their inboxes every day by 10 a.m. EST. Subscribe here.
The Wall Street Journal
- CK Hutchison Starts Arbitration Against Maersk Over Panama Ports — A Panamanian court had voided CK Hutchison’s contracts to run two terminals at either end of the Panama Canal.
The Financial Times
- Opinion: China’s new trade front with the world — services — The country is rapidly moving up the global ranks as an exporter of knowledge-intensive products. By Joseph Quinlan.
The New York Times
- ‘Definitely a Sham’: As Tariffs Climb, Trade Fraud and Accounting Tricks Proliferate — U.S. imports from China have shrunk drastically. But billions of dollars of the change appear to be the result of accounting gimmicks and outright fraud.
- China Pressed Iran Toward Cease-fire, Iranian Officials Say — Beijing appeared to have helped push Tehran to accept the two-week deal with the United States, reflecting China’s growing influence and its stake in avoiding a wider war.
- How China Built Its Vast Natural Gas Stockpile — Natural gas is hard to store, but China has found a way to do it, while also developing alternate suppliers and expanding production at home.
Caixin
- Chinese Chemical Stocks Surge After Missile Attack on Saudi Petrochemical Hub — An Iranian missile strike on Jubail has heightened fears of global supply disruptions, driving international buyers to source from China.
- China Social Security Fund Vice Chairman Under Graft Probe — Wang Wenling oversaw securities investments at the multibillion-dollar state fund.
South China Morning Post
- How China’s tax crackdown on undeclared overseas income is targeting retail investors — Ministry says 11.5% growth in personal income tax revenue partly driven by ‘significant rise in income from share transfers and dividends.
- ByteDance valuation surges to record high of over $600b on proposed equity sale: sources — The seller originally had the valuation at $550 billion, but raised the amount after multiple parties expressed interest, one source said.
Nikkei Asia
- China solar panel makers hike Japan prices on materials costs, rebate cuts — Increases by Jinko Solar, peers expected to hamper Tokyo’s renewable energy push.
- CK Hutchison to navigate ‘world in turmoil’ by scaling up — $23bn ports sale stalls, but Li Ka-shing family empire builds ‘war chest’ for fresh deals.
- China urges ‘full end’ to Iran war as more high-stakes diplomacy awaits — Beijing said to have pushed Tehran to table; ceasefire opens path for Trump-Xi summit.
- BHP locked in stiff iron ore price talks with China’s state-owned buyer — Consolidated procurement and waning demand give Beijing an edge in negotiations.
Bloomberg
- Greer Stresses China Trade Over Investment Before Trump-Xi Meet — The prioritization is a sign of what could be at the center of talks when Xi and Trump meet next month.
- China’s Top Envoy to Visit North Korea for First Time Since 2019 — Beijing has long been North Korea’s primary backer.
- Hesai, Taikang Life Are Said to Plan Investing in Manycore Tech’s Hong Kong IPO — They are planning to participate as cornerstone investors, sources said.
Reuters
- China and Russia veto UN resolution on protecting Hormuz shipping — Russia and China said the resolution was biased against Iran.
- Stellantis in advanced talks to develop Opel EV with China’s Leapmotor, sources say — The deal would help Stellantis cut the cost and time to develop a new EV model.
- Exclusive: TikTok to build a second billion-euro data centre in Finland — Finnish politicians were alarmed by TikTok’s plan for its first data centre in Finland.
Other Publications
- The Economist: A wary rapprochement between India and China — New Indian investment rules are a cautious start.
- CSIS: Export Controls: National Security Tool or Industrial Policy Lever? — Commerce approvals of certain Nvidia sales to China have raised concerns that new production of China-bound chips would divert Nvidia manufacturing capacity.
