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’s Top Airlines Swing to Profit, but Fuel Prices Threaten Long-Term Recovery — Hong Kong-listed shares of China Southern Airlines fell 2.5 percent.
- Remy Cointreau Gets Boost From China Cognac Sales — It expects to book an organic decline to current operating profit this fiscal year.
- China Factory Activity Expansion Slows — The official manufacturing purchasing managers index edged down to 50.3 in April from March’s 50.4.
The Financial Times
- UK’s Wycombe Abbey school forced to close China campus — Shutdown marks setback for international education groups looking to expand in China.
The New York Times
- Meta Deal Reversal Deepens Split Between China and Silicon Valley — Beijing’s insistence that Meta unwind its deal with a Chinese A.I. start-up escalates the geopolitical fight over advanced tech.
Caixin
- China REITs Enter New Era With Asset Expansion — Offices, hotels and high-end malls enter the public real estate investment trust market, but high vacancies, governance complexity and tax hurdles cloud the outlook.
- Shenzhen Further Eases Homebuying Rules as Prices Keep Falling — The southern megacity has made it easier for residents to buy multiple homes in prime real estate areas, surpassing similar efforts in Beijing and Shanghai.
South China Morning Post
- Oxford AI star Song Yuhang returns to China, but why did he leave chip start-up? — Talented young scientist’s links with Beihang University raised in recent article but questions remained unanswered.
- Former CSRC chairman Yi Huiman to face trial for taking bribes, abusing power — Communist Party’s top anti-graft watchdog wraps up investigation into Yi’s activities with long list of allegations.
Nikkei Asia
- China to scrap tariffs on 53 African nations to boost resource imports — Beijing seeks closer ties with continent as Washington turns protectionist.
- How the Shenzhen APEC summit might reshape Japan-China ties — A simple handshake could give Xi Jinping a ‘complete success’ ahead of party congress.
- Global drugmakers eye more China biotech deals after record year — Executives want ‘skin in the game’ despite signs of stock market cooldown.
Bloomberg
- Chinese Hackers Spied On Cuban Embassy As U.S. Prepared Blockade — The hack highlights a trend in state-sponsored espionage: the use of dated software flaws to conduct rapid mass exploitation operations designed to vacuum up details about global events.
- Taiwan Opposition Chief Eyes Trump Meeting After Rare Xi Sitdown — It is very rare for Taiwan political figures to seek meetings with top officials in the U.S.
- CATL’s $5 Billion Placement Paves Way for Hong Kong Deals After Wartime Disruption — It is setting the stage for a fresh wave of share sales in Hong Kong after volatility triggered by the war in Iran weighed on the deal flow.
- VW Open to Chinese Partners Sharing Underused EU Plants — The potential steps mark an escalation for the industry’s fight to stay competitive in Europe.
Reuters
- Convicted former Harvard scientist rebuilds brain computer lab in China — The most comprehensive account of Charles Lieber’s activities since he moved to China.
- White House quiet as China ramps up trade leverage before Trump-Xi summit — The Trump administration’s reticence is a departure from the bilateral trade brinkmanship that characterized the lead-up to Trump’s October meeting with Xi.
- China approved large exports of rare earth vital for U.S. aerospace in March — The 60-ton shipment of yttrium oxide is 50 percent larger than all the yttrium shipped to the U.S. since China imposed export controls on several rare earths last April.
Other Publications
- The Economist: Could China help make Africa a factory for the world? — A spurt of Chinese investment suggests the chances are improving.
- WIRED: Sanctioned Chinese AI Firm SenseTime Releases Image Model Built for Speed — With U.S. restrictions limiting its access to advanced tech, SenseTime is doubling down on open source with a new model optimized to run on Chinese-made chips.
- CSIS: How Open-Source, Real-Time Data Can Defeat China at the Edge of Its Influence — The game of global influence has changed.
