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.
Paid subscribers automatically have this list emailed directly to their inboxes every day by 10 a.m. EST. Subscribe here.
The Wall Street Journal
- Tesla Announces Rollout of Fully Self-Driving Tech in China — The move follows years of efforts to get approval.
- Stellantis, Dongfeng Plan New JV to Sell Voyah-Branded Cars in Europe — The plan to produce Chinese cars in Europe is the second such deal Stellantis has announced in as many weeks.
- China’s NIO Back in Red Despite Robust EV Sales — Revenue more than doubled during the first three months of the year.
The Financial Times
- Iran war opens ‘golden window’ for China’s renminbi — Analysts say use of Chinese currency in global oil trade is on the rise.
- From bitter coffee to all-terrain vehicles: China-Russia trade ties flourish — Close diplomatic relations between Beijing and Moscow are matched by growing mutual commercial exchanges.
- Pentagon official’s Beijing visit in doubt over $14bn US arms package for Taiwan — Chinese government delays green light for talks with Elbridge Colby to pressure Trump over new weapons package.
The New York Times
- Trump Again Says He Will Talk to Taiwan’s Leader, Risking China’s Anger — President Lai Ching-te of Taiwan said he would be happy to speak with President Trump, a move that would defy U.S. diplomatic protocol and infuriate China.
- Trump Approved a Nvidia Chip for Sale in China. Beijing Doesn’t Want It. — The U.S. tech giant’s powerful H200 chip seemed poised to boost Beijing’s A.I. ambitions, but not a single one has been purchased in China.
- China’s Housing Slump Shows Signs of Bottoming Out. We’ve Been Here Before. — Property prices in Shanghai, in particular, are rebounding, but the national market still faces an enormous overhang — 90 million empty or unfinished apartments.
Caixin
- China’s Core Workforce Unemployment Stays Near Record Highs — China’s core working-age unemployment eased in April but stayed near record highs, pointing to persistent strain in the labor market.
- Two Chinese Supertankers Exit Persian Gulf as Hormuz Traffic Trickles Out — Two Chinese very large crude carriers (VLCCs) sailed out of the Strait of Hormuz on the morning of May 20.
- Private Equity Investors Return to Asia as China Sentiment Improves — Global private equity investors are witnessing a broad recovery across Asia, with capital selectively returning to China after a prolonged slump.
South China Morning Post
- China’s Xi Jinping expected to visit North Korea as early as next week — The news comes hard on the heels of visits to Beijing by the presidents of the United States and Russia.
- China’s Chery predicts over 1 million EVs sold abroad as energy crisis persists — Anhui-based carmaker anticipates 27 per cent increase in foreign deliveries in 2026 as battery ranges improve and oil prices rise.
- Substance for Putin, ‘face’ for Trump: China, Russia deepen alliance to counter US — Signing of over 40 agreements during Beijing summit between Xi Jinping and Vladimir Putin cements ‘historical peak’ in China-Russia ties.
Nikkei Asia
- Shares tied to US-alleged China shipping container ‘cartel’ sink — Singamas falls as much as 20% in Hong Kong, while dual-listed CIMC dips around 10%.
- Who was the Chinese ‘glass queen’ sitting between Musk and Cook? — Factory-worker-turned billionaire Zhou Qunfei got noticed at the Xi-Trump state dinner.
- Chinese EV makers awaken Western rivals’ zombie production lines — Tactic for dodging tariffs and easing trade tensions could raise costs, compliance risks.
Bloomberg
- Taiwan Seeks to Detain Three in AI Chip Smuggling Crackdown — Taiwanese officials are seeking to detain three individuals for forging documents in order to export Nvidia Corp. AI chips to China.
- China Cuts Spending the Most in Six Months in Blow to Economy — China scaled back government spending at its fastest pace in six months in April, a move that contributed to an unexpected slowdown in the economy.
- Manus Weighs Raising $1 Billion to Unwind Meta Takeover — The co-founders of Manus are exploring options to fulfill Beijing’s demand to unwind a controversial takeover by Meta.
Reuters
- China’s solar exports to Africa, Southeast Asia jump despite April price-hike concerns — China’s solar exports to African and Southeast Asian countries continued to surge year-on-year in April, China customs data showed on Wednesday.
- Deep under China’s coal basins, PetroChina is unlocking gas from rocks — Thousands of metres below its vast coal basins, China is tapping an unconventional fuel source in a multi-billion-dollar effort to unleash new supplies.
- Europe must break China’s grip on rare earths pricing to spur investment, sector body says — Europe must build its own pricing system for specialty metals and rare earths to reduce reliance on China and unlock investment.
Other Publications
- War on the Rocks: China’s AI Governance Offensive Threatens U.S. Tech Leadership — China’s diplomats are on an “AI governance” offensive.
- The Economist: What China can learn from Japan about escaping deflation — China faces deflationary pressures similar to Japan’s lost decades, but recent energy price rises from Gulf war offer potential lessons.
- The Economist: The other China shock — China’s dominance across all manufacturing categories, from low-tech to high-tech goods, disrupts the traditional pattern of industrial migration.
- World Politics Review: Xi Warned Trump About the Thucydides Trap. Agentic AI Is Its New Terrain — What neither government addressed at the summit has to do with the behavior of their respective AI agents.
- The Guardian: Germany urged to stop admiring Beijing and wake up to ‘China Shock 2.0’ — ‘China has already eaten much of German industry’s lunch and is preparing to start on dinner,’ thinktank says.
