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
- An Iran War Winner: China’s Green Industrial Complex — Beijing’s push to sell its solar and wind power to the world gains momentum from Mideast troubles.
- Big Pharma Is Turning to China for the Newest Drug Ideas — China’s biotechs are faster and have lower costs, and its drug research threatens to soon overtake the West’s.
The Financial Times
- China open to Taiwanese TV and imports after opposition visit — Cheng Li-wun, head of Taiwan’s KMT party, met Chinese President Xi Jinping.
- Tropical Chinese island bids to be world’s largest free-trade hub — A tropical Chinese island is pushing through the country’s most ambitious free-trade experiment.
- Cancer drug licensed by GSK from China posts promising trial results — Mo-Rez, developed by Hansoh Pharma, is a next-generation treatment for ovarian and endometrial cancer.
The New York Times
- U.S. Intelligence Shows China Taking a More Active Role in Iran War — China may have shipped missiles to Iran, and Beijing is allowing some companies to sell Tehran supplies that can be used in military production, American officials said.
- Mutually Automated Destruction: The Escalating Global A.I. Arms Race — China, the U.S., Russia and others have ramped up their contest over artificial-intelligence-backed weapons and military systems. The buildup has been compared to the dawn of the nuclear weapons age.
- China’s Most Famous Modern Writer: From Fiery Rebel to Cute Communist Mascot — The Chinese Communist Party has turned Lu Xun, a Mao-era hero who excoriated the establishment, into a bland, Disney-style character.
- He Taught Himself Watchmaking and Left the Factory Floor Behind — Qian GuoBiao started repairing watches while working in a factory in China. Now, he is presenting his brand in Geneva for the first time.
- Aiming at China, Malaysia Puts New Restrictions on Electric Cars — A policy move by Malaysia was a tacit acknowledgment of China’s dominance in the global market and the power of its automakers to keep prices low.
- China’s Electrostate Is Poised to Win From War in the Middle East — A cluster of Chinese firms is poised to win big from the energy crisis set off by the war in the Middle East, building on booming investment in artificial intelligence.
- Opinion: We Can’t Stop China From Building Powerful A.I. Here’s What We Can Do. — China’s tech sector is too sophisticated to be stopped from building powerful A.I. By Sebastian Mallaby.
Caixin
- China Orders Bankruptcy Liquidation of Shadow Banking Giant Zhongzhi — China Orders Bankruptcy Liquidation of Shadow Banking Giant Zhongzhi – Move targets sprawling financial empire once facing a $38 billion shortfall.
- China to Scrap Import Tariffs for 53 African Nations on May 1 — China will eliminate tariffs on all products imported from 53 African nations starting May 1 as Beijing moves to further open its massive domestic market.
- Standardize EV Batteries, Chips to Help Carmakers Profit, Nio Chief Says — Nio Inc. Chairman and CEO William Li has called for the standardization of battery cells and automotive chips to help automakers survive.
South China Morning Post
- ‘Eager to explore’: Chinese migrants return to Venezuela after Maduro’s capture — A large chunk of Venezuela’s Chinese community fled overseas during Maduro’s rule. Now, many are returning as they see ‘new opportunities’.
- How a Chinese company said it used AI to track US bomber movements over Iran — MizarVision tried to determine bomber movements based on aerial tanker positions and US attacks on key strategic sites.
- Semiconductor leap: China looks to next-gen ‘2D chip’ with 1,000-fold growth speed — Advanced material offers promise in optoelectronics, where it can be used in LEDs, photodetectors and lasers.
- EU tests of China’s C919 speed up as pilots stay in Shanghai ‘permanently’: sources — Flight tests a ‘final exam’ to be followed by analysis, paperwork and technical verification, but ‘political considerations’ also in play.
Nikkei Asia
- Italy imposes curbs on China’s Sinochem to avoid US restrictions on Pirelli — Rome wants Beijing-controlled firm to cut its 34% shareholding in the tire maker.
- China offers 10 incentives to Taiwan following opposition leader’s visit — Xinhua says new measures include easing tourist curbs, allowing ‘healthy’ TV dramas.
- China’s eel farmers face plummeting prices after extensive 2025 catch — Buyers in Japan, world’s top eel consumer, stand to benefit from lower retail prices.
Bloomberg
- China Urges Restraint as Trump Threatens to Blockade Hormuz — China warned that a blockade of the Strait of Hormuz threatens global trade, calling for an immediate ceasefire to the conflict with Iran.
- Taiwan Plans Drills to Break Potential Chinese Energy Blockade — Taiwan will conduct new drills in the near future to ensure the island has access to critical supplies in the event of a Chinese blockade.
- Saudi Oil Sales to China to Halve as Hormuz Crisis Lifts Prices — Saudi Arabia’s crude sales to top importer China are set to halve next month as the war in the Middle East upends flows and lifts prices.
- China’s Clean Tech Firms Signal Windfall From Gulf Energy Shock — Chinese clean-tech manufacturers are benefiting from the supply crunch in the Persian Gulf due to rising oil and natural gas prices and a renewed emphasis on energy security.
Reuters
- Philippines says any energy deals with China must respect its sovereignty — Late last month, the Philippines and China resumed talks over the disputed South China Sea.
- China’s Chery looking to expand car production in Europe, top executives say — Chery has seen rapid growth since launching sales in Europe in 2023.
- Chinese AI startup StepFun to unwind offshore structure to pave way for IPO, sources say — China’s securities regulator said in March it had instructed some to unwind ‘red-chip’ structure.
- China model gains appeal in Vietnam as police expand power — Vietnam’s Lam to meet China’s Xi on Wednesday in his first overseas trip as president.
Other Publications
- The Washington Post: China, Iran weaponized the global economy to beat the U.S. at its own game — Washington once enjoyed a near monopoly over this type of economic warfare, but now American consumers and companies are starting to feel the pain.
- Rest of World: Chinese entrepreneurs should go global before they go viral — The Meta-Manus deal holds lessons for U.S. investors and Chinese founders alike.
- Foreign Policy: Taiwan’s Political Crisis Is a Security Nightmare — Government paralysis is freezing budgets and wrecking public trust.
