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
- China Sharpens Retaliatory Tools Against U.S. Ahead of Trump Summit — Beijing responds to Washington’s trade pressure with broad but vague threats aimed at foreign businesses.
The Financial Times
- As Trump scares off US scientists, China is racing ahead — From mapping the seabed to AI innovation, Beijing is becoming the world’s scientific superpower.
- China shock 2.0: should Europe repel Chinese investment? — Brussels wants firms opening factories in the EU to transfer knowledge and employ local staff. Will it work?
- Iran used Chinese spy satellite to target US bases — Iran secretly acquired a Chinese spy satellite that gave the Islamic republic a powerful new capability to target US military bases across the Middle East.
- China told Maersk and MSC to drop Panama port operations — China demanded Europe’s two largest shipping companies cease operating ports on the Panama Canal.
The New York Times
- How China’s Weapons Transfers to Iran Have Evolved Over Decades — China has denied claims this month by U.S. intelligence that it might have shipped arms to Iran. In recent years, China has supported Iran with dual-use parts.
- Trump’s Blockade Risks Upending an Emerging Détente With China — In a thinly veiled critique of the war in Iran, China’s leader said the world could not risk reverting “to the law of the jungle.”
- Xi Offers Veiled Critique of U.S. in Rare Comments on War in Iran — China’s leader, Xi Jinping, said that the world cannot risk reverting “to the law of the jungle.” Beijing has taken a more active role diplomatically as the crisis in the Strait of Hormuz persists.
Caixin
- U.S. and China Reach Near-Parity in AI Model Performance, Report Finds — The gap in performance between top-tier artificial intelligence models developed by the U.S. and China has largely closed.
- China Slams UK Decision to Block Ming Yang Wind Turbines — China has strongly opposed the U.K. government’s decision to block the use of wind turbines produced by the Chinese manufacturer Ming Yang Smart Energy.
- Chinese Automakers Report Shrinking Profits for 2025 Amid Brutal Price War — Industry leader BYD Co. reported a 19% plunge in annual net profit, leading a wave of dismal 2025 earnings across China’s auto sector.
South China Morning Post
- Brazil demands rare earths be processed at home as US and China compete — Move comes as Washington locks US$565 million deal with Brazil’s only operating rare earth mine.
- Shanghai Gigafactory has potential to construct humanoid robots: Tesla China president — Shanghai Gigafactory could be a ‘golden key’ to advancing Elon Musk’s hopes of commercialising the technology swiftly, Tesla China head says.
- Sour note: China criticises local governments for ‘imprudent’ spending — Amid belt-tightening drive, spotlight falls on projects deemed not in the public interest, including millions of yuan spent on promotional songs.
Nikkei Asia
- China snaps up US chip tools via Southeast Asia amid supply chain shift — Imports from Singapore and Malaysia hit record as Chinese players’ earnings surge.
- Chinese chemical producer Hengyi’s profit jumps 40-fold on Iran war — Rising prices of key products buoy earnings in industry plagued by overcapacity.
- Opinion: China’s more-than-decade-late sanctions ineffective as leverage on Japan — Tokyo has already taken too many steps to distance itself from Beijing to back off. By Athena Tong.
Bloomberg
- Bessent Calls Anthropic’s Mythos a Breakthrough in China AI Race — US Treasury Secretary Scott Bessent hailed Anthropic PBC’s Mythos as a revolutionary step that will keep America ahead of China in AI.
- China’s Control Over Tech Is Threatening India’s Manufacturing Dreams — India’s biggest companies are struggling to break Beijing’s grip on production of batteries, EVs and critical minerals.
- Americans’ Views of China Improve Ahead of Trump-Xi Summit — More than one-quarter of Americans hold positive views of China, nearly double the proportion from a record-low three years ago.
Reuters
- Trump says he asked China’s Xi not to give Iran weapons — Donald Trump asked Chinese President Xi Jinping in a letter not to give Iran weapons, and Xi responded that China was not supplying Tehran.
- China weighs curbs on exports of solar manufacturing equipment to US — Chinese officials have held initial talks with providers of equipment to make solar panels.
Other Publications
- Sixth Tone: The Internet Café Never Really Died in China. Now It’s Booming. — China’s internet café revival reflects a broader consumer shift toward affordable, high-quality shared experiences amid economic caution.
- Dialogue Earth: The relaxation of China’s straw burning ban — Burning stubble in the fields had been largely banned since 1999, but local governments are now allowing the practice in some circumstances.
- Foreign Affairs: The Tech High Ground — What It Will Take to Gain the Advantage Over China.
- Foreign Policy: Why Did China Buy Up the World’s Ports? — Beijing is less focused on acquiring sovereign control, more so in assuring its own strategic security.
