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
- Xi’s China: Dazzling Technology, Military Muscle—and an Economic Mess — Government pours money into AI, electric cars and military power, while consumer confidence sags and job market grows bleak.
- Iran War Hangs Over China Summit — As Trump prepares to meet with Xi Jinping this week, he is eager to move on from the conflict that is hurting his domestic power and the global economy
- China’s Factory-Gate Price Growth Beats Expectations as Mideast War Fuels Inflation — It marked the second consecutive month of price growth following a grueling 41-month stretch of decline that began in October 2022.
- The Factory Town Known as China’s Furniture Capital Is Fighting to Survive — The U.S. lost much of its furniture industry to China years ago. Now, American tariffs and overseas competition are punishing manufacturers.
- China’s Cars Aren’t in the U.S., but Its Auto Parts Are Everywhere — Chinese companies have amassed ownership stakes in about 5% of 10,000 auto suppliers in America
- China Exports More EVs Than Traditional Cars for First Time in April — China exported 769000 automobiles in April, with new-energy vehicles accounting for 52.7% of total exports.
- Opinion: The Stakes of the Trump-Xi Summit — The U.S. wants ‘stability’ but China’s Communist leader has larger ambitions. By The Editorial Board.
The Financial Times
- China expanding its industrial dominance, warns U.S. business group — Chamber of Commerce says west is running out of time to sever its growing reliance on Chinese supply chain.
- The Chinese investment plan that Trump held back — Proposals for FDI from China into the U.S. have been delayed and scaled down thanks to White House actions.
- Donald Trump to press China’s Xi Jinping about Iran war at summit — U.S. president arrives in Beijing on Wednesday for his second in-person meeting with Chinese leader.
- China fixes currency at 3-year high ahead of Trump-Xi meeting — Data shows deflationary pressures are easing in world’s second-largest economy.
- China’s exports jump 14% ahead of Xi Jinping-Donald summit — Robust trade surplus shows U.S. tariffs have done little to dent the country’s manufacturing prowess.
- U.S. imposes sanctions on Chinese companies for allegedly helping Iran — State department says groups provided satellite imagery that enabled Tehran to strike American forces in Middle East.
- Opinion: Trump’s war has given China an economic opening — Beijing could turn instability in the Middle East into a strategic gain. By The Editorial Board.
The New York Times
- China’s Exports and Imports Set Records in April Amid… [CHECK] — The country’s exports surged and its trade surplus with the United States widened ahead of President Trump’s scheduled visit next week to Beijing… [CHECK]
- What Middle Powers Fear About the Trump-Xi Summit — Asian nations worry that the president might trade security commitments for better economic terms with China during his planned meeting with Xi Jinping this week.
- U.S.-China Rivalry Reaches South American Skies — The U.S. has pressed Argentina and Chile to review two Chinese telescope projects in the Andean deserts. Astronomers are worried about setbacks to research.
- He Offered a Lawmaker’s Aide Quick Cash. Was He Spying for China? — A staff member on the House China Committee was promised $10000 for U.S. policy insights, on issues like Venezuela and rare-earth minerals.
- Lawmakers Urge Trump to Move Ahead on Delayed Arms Sale to Taiwan — The Trump administration has held up the sale for months ahead of President Trump’s meeting this week with President Xi Jinping of China.
- As Trump Heads to Beijing, China Is ‘Locked and Loaded’ for a Fight — Beijing is signaling that it is ready for a trade showdown, and it is building up a legal arsenal in preparation.
- China’s Exports and Imports Set Records in April Amid High Energy Costs — The country’s exports surged and its trade surplus with the United States widened ahead of President Trump’s scheduled visit next week to Beijing.
- Opinion: China Is Becoming Dangerously Overconfident — We are entering a more perilous era where China no longer sees U.S. strength as something to fear. By Yanzhong Huang.
- Opinion: Why China Is So Much Less Scared of A.I. Than the U.S — Unlike in the United States, where most people remain wary, A.I. seems to have had less of a backlash in China. By Jacob Dreyer.
Caixin
- Elite Chinese University Fires Researchers Over Faked Nature Study — The dismissal of Tongji University scientists highlights a growing crisis of academic integrity tied to the country’s vast state research funding.
- China Trade Surges Past Forecasts on Global AI Boom — China’s exports and imports grew much faster than expected in April, fueled by strong demand for semiconductors and computing equipment tied to the global artificial intelligence (AI) investment boom.
- Beijing Hits Back at EU Funding Block for Projects Using Chinese Inverters — China accused the European Union of stigmatizing Chinese products after Brussels decided to block funding for renewable-energy projects using Chinese-made inverters.
- Five Things to Know About China’s Expanding Sanctions Shield — The Ministry of Commerce has ordered domestic companies not to comply with U.S. measures targeting Chinese refineries for their alleged involvement in the Iranian oil trade.
- Opinion: Why China’s Commitment to Energy Security Is Good for the World — China’s expanding renewable capacity and growing technological edge have turned the country into a stabilizing force in the global green transition. By Caixin.
South China Morning Post
- Chinese aviation expert lays out plan to sanction-proof domestic passenger planes — Zhang Yanzhong, who played a leading role in developing the C919 jet, warned there was a real risk of being cut off from supply chains.
- Why China’s new duty-free access is a lifeline for South African exporters — South African trade is pivoting to China as US tariffs bite, but Chinese industrial dominance poses a new dilemma.
- Trump’s China return: what’s changed since his ‘friendly’ 2017 visit — Nearly a decade after his first-term visit, Trump returns to Beijing amid tensions over tariffs, Taiwan and tech rivalry.
- Could military AI use be on the agenda when Chinese and US leaders meet? — The technology has become increasingly important for militaries around the world, but the two sides may struggle to reach a consensus.
- Taiwan’s Cheng Li-wun on cross-strait peace, meeting Xi Jinping and managing ties with U.S. — Kuomintang chairwoman says hostility towards mainland is a product of political engineering that does not reflect reality of Taiwan.
Nikkei Asia
- Chinese automaker Chery to launch EV brand with Japan’s Autobacs Seven — Companies seek to expand Japan’s EV market; Japanese production under consideration.
- China’s EcoFlow to sell solar panels in British supermarkets soon — Named as UK partner, Shenzhen manufacturer hopes to replicate success in Europe.
- Led by industry, Japan and Taiwan plant seeds of drone cooperation — Tokyo and Taipei eager to reduce exposure to China, but have long way to go.
- ‘Huawei Inside’ and everywhere at China’s auto show — From parts to software, tech group has become more than just a supplier.
- China solar panel maker Jinko to sell majority stake in US unit for $191m — Private equity firm FH Capital to control 2GW of production capacity at Florida plant.
Bloomberg
- China Touts Joint Drug Bust With US Before Xi-Trump Summit — China said it dismantled a cross-border drug trafficking network in a joint operation with the U.S., signaling cooperation on a key bilateral issue just days before a summit in Beijing.
- China’s First-Quarter Marriage Registrations Fall to Lowest Ever — China’s marriage registrations in the first quarter fell to the lowest level on record for the three-month period, underscoring weakness in the formation of new households.
- China’s Policies Threaten $650 Billion in G-7, U.S. Chamber Says — Chinese policies are “becoming more systematic and pervasive,” according to the report, published by the Chamber of Commerce and prepared by the Rhodium Group research firm.
- China Green Tech Firms Target New Consumers Hit by Iran War Energy Shock — Suppliers of batteries, solar panels and electric cars are pushing to capitalize on rising demand.
- Opinion: A Warning From Zambia About China’s Reach — China’s role as a lender and trade partner is giving it greater scope to shape the conditions of relationships with other countries. By Karishma Vaswani.
Reuters
- Taiwan confident in U.S. ties but hopes for no ‘surprises’ from Trump’s China summit — China has never renounced the use of force to bring Taiwan under its control, and China’s foreign minister said Taiwan was the “biggest risk” in China-U.S. relations.
- Families of two Americans jailed in China urge Trump to seek release — For Trump, securing the release of two ailing U.S. prisoners would offer a gain from a summit expected to be short on outcomes amid tensions over trade, Iran and Taiwan.
- Opinion: FIFA risks a World Cup own goal in China and India — TV rights stand-offs risk shutting nearly 3 billion potential viewers out. It’s a wrinkle in the sport’s emerging-market growth hopes. By Ka Sing Chan.
Other Publications
- Foreign Affairs: The Stakes of Trump vs. Xi — How the summit could change the course of U.S.-China competition.
- Foreign Affairs: Why China Waits — Beijing is playing a long game on Taiwan.
- The Atlantic: China’s Long Game — Beijing is patiently waiting for the United States to flame out.
- Rest of World: The Chinese whiz kids of Silicon Valley — Chinese-born tech workers have fueled Silicon Valley for decades. In the AI era, they’re superstars.
- CFR: At the Trump-Xi Summit, China Will Have the Upper Hand — The meeting comes as the U.S.-led war against Iran generates further global instability, and China continues to secure its critical minerals dominance and credibility as a global energy supplier.
- The Guardian: Tehran, Taiwan, trade … what are the hazards facing Trump on Xi summit tightrope? — U.S. leader enters talks with superpower rival from vulnerable position, but will be hoping for economic wins amid turbulent backdrop.
- The Guardian: Opinion: Europe should behave more like China does if it wants to survive this age of chaos — Instead of obsessing over rules that have ceased to matter, we must consider giving Beijing a dose of its own medicine. By Mark Leonard.
