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 Steps Up U.S. Sanctions Fight, Defying Blacklisting Over Iranian Oil — Beijing’s first-time use of ‘blocking rule’ comes ahead of expected Trump-Xi summit.
The Financial Times
- Solar panel prices rise after China clampdown on producer competition — Rebound may spell end of the era of ever-cheaper cells after a price war that stoked huge losses among biggest producers.
- Australia becomes a trade deal champion to counter Donald Trump and China — Facing hostility from its two largest trading partners, Canberra embarked on a drive to diversify.
- EU blocks funds for key Chinese solar energy parts — Brussels cites security concerns in latest crackdown on sensitive China-made imports.
- Opinion: China is building soft power as Trump burns bridges — After years of struggling to match the global popularity of the US, Japan and South Korea, Beijing’s image is improving. By Gideon Rachman.
The New York Times
- Taiwan Could Learn From Ukraine. Informally, Connections Are Growing. — The governments have no official diplomatic or military ties. But a loose network led by company executives and volunteers is bridging some of that gulf.
- The Split Between China and Silicon Valley Just Got Wider — Beijing’s insistence that Meta unwind its deal with a Chinese A.I. start-up escalates the geopolitical fight over advanced tech.
- U.S. Warns China Over Iranian Oil as Sanctions Fight Intensifies — China told its independent refineries to disregard U.S. sanctions over their purchases of Iranian crude.
- Fireworks Factory Blast in China Kills at Least 26 — Dozens more were injured in the explosion, which appeared to be one of the country’s deadliest in recent years.
- As Oil Prices Stay High, China Doubles Down on Wind Power — An industrial policy of subsidies and import restrictions laid the foundations for China to become almost as dominant in wind turbines as in solar panels.
Caixin
- U.S. Chipmaker Onsemi Reaffirms Commitment to China as Demand Rises From EV Shift — ON Semiconductor Corp. (Onsemi) will continue to provide its most advanced technology to its automaker clients in China.
- China’s Rural Migrant Workers Age as Shift to Services Weighs on Pay — China’s migrant workforce is aging as more workers move into lower-paying service jobs, putting pressure on income growth amid a shifting economic landscape.
- ByteDance Plans Subscriptions for AI Chatbot Doubao — ByteDance Ltd. plans to introduce a paid subscription service for Doubao, aiming to turn the artificial intelligence chatbot’s massive user base into sustainable revenue amid intense industry competition.
- Why China Needs a World-Class Service Sector — China’s State Council recently released a comprehensive policy document to expand and improve the service sector, outlining 20 measures across five broad categories.
South China Morning Post
- EU sounds out industry over new trade weapon against China’s overcapacity — Brussels is polling business groups ahead of commissioners’ meeting but few details of the proposed instrument have been revealed.
- Japan offers Indonesia and the Philippines lethal muscle to counter China — Frigate and submarine sales are reportedly on the cards as Tokyo’s defence minister tours the region.
- Has China given the first sign it’s ready to export J-35A fighter to Pakistan? — State media shows J-35A model bearing AVIC logo rolling out of the hangar, the English lettering hinting it is an export model.
Nikkei Asia
- Nvidia’s Jensen Huang says China should not have its most advanced chips — CEO backs US lead in AI while pushing for ability to sell older chips in China.
- China targets 70% advanced domestic silicon wafer use by 2026 — Local leaders led by Eswin drive major expansion for self-sufficiency milestone.
- Chinese firms suspend US expansion as business climate worsens — Investment in country unlikely to rebound meaningfully despite possible push by two leaders.
- China outpaces Japan in next-gen perovskite solar cell patent filings — CATL leads in filings for tech that allows bendable panels, taking top spot from Panasonic.
Bloomberg
- Bessent Calls on China, Allies to Join US Operation in Hormuz — US Treasury Secretary Scott Bessent called on US allies and on China to join an American operation to escort ships through the Strait of Hormuz.
- Mozambique Weighs Swapping Dollar Debt for Yuan in China Talks — Mozambique is considering converting the $1.4 billion it owes China into renminbi loans as part of a debt restructuring with its biggest bilateral creditor.
- Trump Says He Looks Forward to Xi Summit Even as Tensions Mount — President Donald Trump said he’s looking forward to meeting Chinese counterpart Xi Jinping, signaling his plans for the high-stakes summit are still on.
Reuters
- US prepared for visa sanctions on China over migrants issue, official says — China is slowing its efforts to repatriate Chinese nationals who are in the U.S. illegally, a senior Trump administration official told Reuters.
- Taiwan won’t give in to pressure, president says of Africa trip China denounced — President Lai Ching-te arrived home on Tuesday from Eswatini saying Taiwan would not give in to pressure.
Other Publications
- Semafor: China becomes a scapegoat for US data center backlash — China is playing a growing role in US discourse over domestic tech growth and regulation.
- Foreign Affairs: Trump’s China Trap — Why Xi Keeps Winning the Summitry Game.
