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
- Pomp Before Circumstance in China Trip — Trump and Xi will tackle issues such as Iran and trade. The White House has acknowledged that Trump’s visit would be heavier on symbolism and lighter on policy outcomes.
- China’s Best and Brightest Tech Talent Is Going Back to China — More Chinese nationals who return home after working in the U.S., called ‘sea turtles,’ are fueling Beijing’s efforts to take on Silicon Valley.
- Xi’s Taiwan Warning to Trump Highlights Tensions in Beijing Summit — The Chinese leader’s comment that any mishandling of Taiwan could lead to “an extremely dangerous situation” raised an issue that has loomed over President Trump’s trip.
- Chinese Chip Maker SMIC’s Profit Misses Market Expectations — SMIC, China’s biggest chip foundry, reported weaker-than-expected net profit at the start of the year as it keeps scaling capacity amid China’s push for chip localization.
- New York Man Convicted After Opening Chinese Police Station — The police outpost was used to renew driver’s licenses and hunt a Chinese political opponent, prosecutors alleged.
- We Joined a Taiwan Coast Guard Mission on the Front Line Against China — Exclusive access to a Taiwanese Coast Guard patrol as it counters China’s ‘gray zone’ pressure in the Taiwan Strait.
- Opinion: The Lai Family, Cursed by Communism — Reflections from the children of Hong Kong’s imprisoned dissident publisher. By Jillian Kay Melchior.
- Opinion: Taiwan Is the Key to AI Dominance — The island is much more than a bargaining chip. It’s the center of the world’s most important tech stack. By Alexander Benard and David Feith.
The Financial Times
- Xi tells Nvidia, Tesla and Apple CEOs that China will ‘open wider’ — U.S. business leaders praise ‘great importance’ of Chinese market on visit to Beijing alongside Donald Trump.
- Carmakers fear production hit after EU sanctions on Chinese chipmaker — Companies ‘scrambling for information’ after ban on trading with key supplier.
- U.S.-China relations depend on Taiwan, Xi warns Trump — Chinese president tells U.S. counterpart there are ‘no winners’ in trade war.
- What Xi and Trump want from their Beijing summit — Chinese and U.S. leaders to discuss trade, technology, Iran and Taiwan.
- China’s fuel exports fail to rebound after Beijing signals easing of ban — Data suggests shipments of refined fuels are not picking up in blow to Asian economies starved of supplies by Iran war.
- Chinese demand spurs U.S. ethane exports to record high — Iran war leads to shortage of petrochemical feedstock naphtha, prompting plastic makers to hunt for cheaper alternative.
- Citadel tells key researchers to relocate from Hong Kong or quit — Hedge fund gives ultimatum to members of its global quantitative strategies team based in territory.
- Eric Trump joins Beijing trip as family-linked group chases China deal — Company with ties to U.S. president’s son has MOU with chipmaker that Congress warned is connected to Communist Party.
- Trump demands Xi ‘open’ China to U.S. business — U.S. president arrives in Beijing for two-day summit clouded by geopolitical tensions and conflict over trade and tech.
- Opinion: A note from Trump and Xi’s couples therapist — They’re not listening to each other and growing apart. By Soumaya Keynes.
The New York Times
- As Their Leaders Meet, American and Chinese People Are Drifting Apart — Past meetings between the presidents of the U.S. and China have involved friendly displays of cultural exchange. Those gestures have largely dried up.
- The China Gambit: From Nixon to Trump — President Trump’s visit to Beijing comes as relations with China have become more combative.
- Here’s Why Taiwan Is Watching What Trump Says in Beijing — There are few issues in diplomacy more complicated than the status of the self-governing island, which China claims as its own. It is almost certain to come up when President Trump meets China’s leader.
- Activists, Lawmakers Urge Trump to Call for Release of Jimmy Lai and Dong Yuyu — Supporters of Mr. Lai, a Hong Kong dissident, and Mr. Dong, a Chinese journalist, hope President Trump will raise their cases with President Xi Jinping.
- Man Convicted of Running Illegal Police Station Tied to China’s Government — Prosecutors say that Lu Jianwang opened a hub in Manhattan’s Chinatown to monitor outspoken critics of the Chinese Communist Party.
- Why Xi Doesn’t Need a Deal With Trump — President Xi Jinping of China is buying time for Beijing and may see an opening with a U.S. president weakened by the war in Iran.
- What China’s Choice of Airport Greeter Says About Trump — Beijing welcomed President Trump with a high-ranking vice president, but the choice of a ceremonial leader suggests China is trading symbolism for substance.
- A Watchful Beijing Tightens Security for Trump’s Visit — Historic sites and roads have been closed in the Chinese capital for President Trump’s state visit, resulting in severe traffic and disappointed tourists.
- Uyghurs Hope Trump Returns to First-Term Toughness at Summit — In 2021, the president declared China’s crackdown on Uyghurs a genocide. Now, it rarely surfaces.
- Eric Trump, Who Runs the Family Business, Hops Along on the Plane to China — The president’s middle son is said to be joining his father in a “personal capacity” rather than to make business deals.
- Musk, Rubio, Hegseth: Who Is Traveling With Trump to China — President Trump arrived in Beijing, ahead of his meeting with President Xi Jinping of China. Among those accompanying Mr. Trump were top administration officials and business leaders.
- Trump and Xi: Beneath the Pomp and Niceties, a Geopolitical Rivalry — The relationship between the two leaders is marked just as much by mistrust and confrontation as it is by niceties.
- Chinese Firms Plot Secret Arms Sales to Iran, U.S. Officials Say — The effort involves plans to send weapons through other countries in an effort to hide the origins of the shipments.
- Why the Bombing of Iran Tied the U.S. More Closely to China — As the U.S. tries to rebuild its weapons stockpiles drained in the Iran war, it will need access to rare-earth minerals, an industry China dominates.
- For Trump, the Iran War Looms Over China Summit — The balance of power between the United States and China had shifted in Beijing’s favor even before the war in Iran began in February.
- Opinion: China Doesn’t Worry About A.I. Like We Do — The difference in perspectives between superpowers is shaping the race for A.I. dominance. By Ross Douthat and Kyle Chan.
- Opinion: Trump’s China Policy Has Weakened America — In Beijing this week, Mr. Trump should not hand China more victories. By The Editorial Board.
Caixin
- Citigroup to Get License for Wholly Owned China Securities Firm as CEO Joins Trump Visit — Citigroup Inc. has cleared the final regulatory hurdles to set up a wholly foreign-owned securities firm on the Chinese mainland, ending an application process that lasted more than four years.
- Executives Flee, Workers Strike at Wahaha’s Production Operator — A turmoil is roiling Chinese beverage giant Hangzhou Wahaha Group Co. Ltd., marked by the exodus of four key executives from its main production and sales operator and widespread labor disputes over pay cuts and layoffs.
- Opinion: The Tariff War Didn’t Break U.S.-China Trade Ties — It Reshaped Them — Rather than isolating China, the tariff war catalyzed its diversification. By Luo Zhiheng.
South China Morning Post
- ‘Transactional’ but pivotal: how Xi-Trump talks could redefine U.S.-China fault lines — Chinese and U.S. leaders are likely to focus on stability and achievable outcomes rather than breakthroughs when they meet in Beijing.
- U.S. Senate warns of China’s nuclear capabilities hours before Xi-Trump summit — Beijing engaged in ‘unprecedented nuclear expansion’ in recent years that includes ‘hundreds of new missile silos’, senator tells hearing.
- Wary mood to mark Xi-Trump summit with irritants aplenty on both sides: analysts — Observers noted the number of recent strategic and trade blows, including the war on Iran, have not derailed the meeting from going ahead.
- Chinese company that tracked U.S. bombers over Iran wears sanctions with pride — MizarVision defiant after Washington imposes sweeping ban for publishing open-source images detailing Operation Fury activities.
- Chinese foundries SMIC, Hua Hong forecast second-quarter growth amid AI boom — Bai Peng, Hua Hong’s chairman and president, downplayed the impact of U.S. export controls on the company’s capacity expansion plans.
Nikkei Asia
- China carmakers get most subsidies; U.S.-sanctioned oil refiner also benefits —State support shrinks as local governments face fiscal pressure.
- India’s nascent semiconductor sector faces China’s push in older chips — Countries likely to compete in mature-node chips as Chinese will account for half of global capacity.
- Brazil reaps gains from U.S.-China tensions with resource diplomacy — Lula wields South American country’s rare earths for edge over Trump on trade.
- Japan’s hopes for a Trump stop in Tokyo before Beijing fall through — Takaichi sought to highlight China military threat ahead of leaders summit.
- Opinion: China’s demographic decline is not the disaster many fear — Population shrinkage is real, but migration, productivity and policy could make aging more manageable. By Lauren Johnston.
Bloomberg
- At China Summit, Trump Has CEOs, But Xi Has Leverage — The Iran war pulls U.S. attention away from the key agenda of trade, tech and Taiwan.
- UN Climate Chief Lavishes Praise on China as Trump Meets Xi — The top United Nations climate official says China is reaping benefits as a global leader on the green transition and other nations should follow.
- China’s $3 Billion U.S. Clean Tech Exit Is an Investment Warning — Some of the world’s top green manufacturers are abandoning ambitions in the U.S. as policies target foreign entities.
Reuters
- China criticizes U.S. chip equipment bill in run-up to Beijing talks — China is pushing back against proposed U.S. legislation that would curb its chipmakers in the global AI race, making early moves that underscore Beijing’s concerns.
- Trump wants China’s help on Iran. Beijing may have other ideas — China’s leader will be reluctant to cut economic support for Beijing’s most important partner in the Middle East or to stop supplying it with the dual-use goods its military needs.
- China ‘very disappointed’ with Europe’s planned investment restrictions, diplomat says — Beijing is “very disappointed” with plans in Europe to restrict investment from China, warning that such measures would push China to “close its door” to Europe.
Other Publications
- The Guardian: Chinese court awards compensation to sacked worker replaced by AI — Case attracts widespread attention as example of China balancing enthusiastic adoption of AI with job security.
- Foreign Affairs: China Was Ready for the Age of Anarchy — Why turbulence will make Beijing more assertive.
- Foreign Policy: Beijing’s Quest for Uniformity May Be Its Achilles’ Heel — Forced assimilation is costing China dearly.
- The Information: U.S. Clears Nvidia H200 Chip Sales to 10 Chinese Firms — The U.S. Commerce Department has cleared Nvidia’s sales of its H200 chips to around 10 Chinese companies including Alibaba, Tencent, ByteDance and JD.com.
