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
- Ford, Geely Held Talks About Bringing Chinese Tech to America — The automakers have discussed a tie-up in Europe, but any U.S. collaboration would be politically fraught.
- China Bans Meta’s Acquisition of Manus on National Security Grounds — Decision reflects Beijing’s broader attempts to protect China’s AI know-how.
- How to Avoid Fistfights and Poisonings at a World Leaders Summit — An army of staffers work to ensure Trump and Xi stand in the right place, say the right thing and even keep saliva a state secret.
- That Video on Your Phone Might Be Made-in-China AI — From short clips to Hollywood, creators lean on AI programs, many of them Chinese.
- The Pentagon Needed Rare Earths — and Found a Supplier in Malaysia — A year after Beijing cut the world off from vital minerals, the West is breaking China’s chokehold.
- Moody’s Upgrades China’s Outlook, Citing Resilience in Face of Challenges — It expects policymakers to manage debt resolution for regional and local governments in a controlled manner.
- China’s Industrial Profit Growth Accelerated in First Quarter — Industrial profit rose 15.8% last month compared with a year ago.
- Opinion Interview: Scott Bessent: Donald Trump’s Economic Engineer — The Treasury secretary looks ahead to the Beijing summit and discusses AI, energy, taxes, bank regulation and more. By Mark Halperin.
The Financial Times
- EV ownership at ‘tipping point’ in many parts of the world, experts say — Data shows momentum shift under way in Europe and emerging markets.
- China’s smartphone king takes on Elon Musk in Europe with premium EVs — Xiaomi wants to expand on the continent as demand for its cars outstrips production.
- China blocks Meta’s $2bn purchase of AI group Manus — Regulators had reviewed whether deal violated Beijing’s investment rules.
- Italy extradites alleged Chinese hacker to U.S. — Suspect in Covid industrial espionage case handed over amid strains between Giorgia Meloni and Donald Trump.
- China warns EU over proposed ‘Made in Europe’ law — Beijing threatens unspecified retaliation over fears that bill to strengthen bloc’s industry will hurt its companies.
- Inside China’s plans to fight in space — From seizing satellites to striking Earth from orbit — Beijing is developing dual-use capabilities in an intensifying arms race with the U.S.
- UK Biobank says security checks not imposed because of ‘harms’ to research — Access to the database has been paused after data breach under pressure from ministers.
The New York Times
- U.S. Unveils More Sanctions Targeting Iran’s Shadow Fleet — The Treasury Department also targeted a top independent Chinese refinery that it said was a major buyer of Iranian petroleum.
- China’s Economy Starts to Show Cracks From Iran War — China’s strategic reserves of oil and natural gas have insulated it somewhat, but its manufacturing-based economy is beginning to falter.
- China Will Require Meta to Unwind Acquisition of AI Start-Up Manus — The impact of the ruling was not immediately clear, but it could send a chilling signal to Chinese tech founders seeking to team up with foreign companies.
- Homeowners Fight for Control of Their Community in China — They signed petitions, organized rallies and held strategy sessions over karaoke, debating how far to push the authorities in their dispute with a developer.
- The Rising Chinese Automaker Not Named BYD — Geely is challenging the giant BYD by adapting quickly to swings in demand and energy prices, seizing on interest in electric vehicles prompted by the war in Iran.
Caixin
- China Tightens Corruption Rules Across Public and Private Sectors — New judicial guidance lowers thresholds and targets subtler forms of bribery, signaling stricter rules for officials and corporate executives.
- China’s Fiscal Revenue Posts Fastest Growth Since Last Year — Higher prices, stronger imports and tighter tax compliance lift March revenue, but weak land sales remain a drag.
- Chinese Automakers Rush Into Premium Market to Escape Price War — Domestic carmakers are flooding the high-end segment in search of better margins, raising fears of overcapacity and a renewed price war.
South China Morning Post
- China is poised to reap rewards as energy shock heats up the race for renewables — The U.S. war on Iran may have inadvertently triggered a global transition that will favour Beijing’s green leadership, analysts predict.
- As DJI duels Insta360, China sharpens global hardware edge amid U.S. scrutiny — Western competitors like GoPro face shrinking footprints as strategic shifts of Chinese firms disrupt the status quo while navigating FCC-led national security bans.
- Why Shenzhen may be first to climb out of China’s property slump — Shenzhen’s housing inventory drops to a seven-year low, offering an early signal that China’s property downturn may be nearing a turning point.
- Just what the doctor ordered: how AI could help China bridge the medical resources gap — Hospitals, medical professionals and patients stand to benefit as country pushes to integrate AI into healthcare sector.
Nikkei Asia
- Chinese carmakers take on Tesla in race for robotaxi supremacy — Beijing auto show spotlights self-driving advances, plans for autonomous fleets.
- Chinese tungsten export restrictions throw hobby world off the mark — From darts to fishing tackle, manufacturers struggle with shortage of unique metal.
- City of Beijing to bar consumer drone sales, tightening security in capital — China’s first citywide sales ban raises concerns over ‘low-altitude economy.’
- ‘Our time is now’: Vietnam tungsten firm rides high on Chinese export curbs — Rare metal’s price surges nearly 9 times on AI demand, tight supply outside China.
Bloomberg
- Private-Sector Sleuthing Becomes Big Business for U.S. Tech Startup — Trump’s economic crackdown on China’s U.S. interests is creating opportunities for a Utah-based intelligence firm.
- DeepSeek’s Long-Awaited New Model Fails to Narrow U.S. Lead in AI — The initial details may provide some relief to U.S. executives and officials who have been bracing for DeepSeek’s next release.
- These Are the Chinese Cars That the US Will Be Missing Out On — China’s top automotive event of the year showcased the new technologies emerging out of the cutthroat market.
- U.S. Sanctions on China Oil Giant Turn Up Heat for Teapot Refiners — The collateral damage will extend far beyond oil.
Reuters
- Exclusive: U.S. State Dept orders global warning about alleged AI thefts by DeepSeek, other Chinese firms — A cable instructs diplomatic staff to speak to their foreign counterparts about the issue.
- Under cover of trade truce with Trump, China expands economic pressure toolkit — China is using the trade truce to build out a menu of economic influence tools that was, until recently, almost exclusively Washington’s domain.
- American YouTuber guides foreigners around Chinese cars U.S. buyers can’t get — More Americans are starting to follow the industry more closely.
Other Publications
- The New Yorker: Inside the World-Conquering Rise of the Micro-Drama — Much of humanity has now watched — or scrolled past — extremely short shows about love and betrayal. How do Chinese companies create them?
- The Economist: Xi Jinping wants a powerful currency. America’s war has helped — More countries are starting to use China’s payment infrastructure.
