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
- China’s Latest Tool to Control a Disputed Atoll: A Strange Floating Platform — The movable structure has renewed fears that Beijing is expanding its campaign to dominate the South China Sea.
- What the West Can Learn From China — Without Becoming It — Plus, how export controls can backfire unless allies move in lockstep.
- U.S. to Speed Up Early Drug Research to Better Compete With China — FDA and NIH officials unveiled a package of regulatory tweaks as more companies go elsewhere for drug research.
- Opinion: China’s Ambitious AI Blueprint — Beijing identifies key sectors for creating a ‘people-vehicle-home’ ecosystem. By Walter Russell Mead.
The Financial Times
- Renewable energy group to raise $3.6bn in China’s biggest IPO for 4 years — China Resources New Energy Holdings attracts strong interest from retail investors ahead of Shenzhen debut.
The New York Times
- China Takes Supercomputer Crown From U.S. for First Time Since 2017 — A supercomputer in Shenzhen was declared the world’s fastest. It uses only standard microprocessors and not the special-purpose chips called graphics processing units.
- This Megafactory Is a Test Case for the U.S.-China Tech Race — Chinese firms have some of the world’s most advanced technology. But U.S. officials say relying on it could come with a downside.
Caixin
- Chinese Agricultural Giant Beidahuang Ordered to Pay Record Back Taxes — The case underscores Beijing’s growing scrutiny of corporate tax compliance as dozens of listed companies disclose unpaid tax liabilities.
- China Rolls Out 15-Point Plan to Woo Foreign Capital — FDI fell 8.6% year-on-year by value in the first five months of the year, extending a multi-year decline, although the number of newly established foreign enterprises rose 5.3%.
- Yum China Speeds Up AI Integration of Its Supply Chain — Zhang Lekai, Yum China’s senior director of supply chain, said that the company has deployed automated guided vehicles equipped with intelligent algorithms in its cold storage facilities.
South China Morning Post
- Japan’s defence outreach to counter China’s military rise hits hidden roadblocks — Tokyo’s approach combines security, economic and diplomatic tools to show regional nations an alternative to the China-U.S. dilemma.
- Is China’s risk tolerance reaching its limit with pause of African mine deal? — Regulators ‘sending a signal’ with scrutiny of potential acquisition that includes important mining assets in conflict-prone regions.
- As Europe rearms, can it decouple its military supply chains from China? — Europe will selectively cut risks in certain areas, as the cost of freezing out China would be too great, observers say.
- Could Iran replace China as U.S. soybean market? Farmers aren’t buying Trump pitch — American growers sceptical, dismissing claims of a new Iranian market for their exports as unrealistic and misleading.
- Opinion: The I Ching, Leibniz and AI: how old China-West links shaped modern science — The connection between Chinese civilisation and Western scientific thinking is far deeper and more intricate than commonly understood. By Chow Chung-yan.
Nikkei Asia
- China pays price for ‘Ponzi scheme’-driven property boom — In April post, former industry heavyweight Pan Shiyi stresses ‘restoration of trust’.
- China minerals control threatens EU rearmament, as bloc seeks new sources — Europe urged to work closely with Japan, form ties with Malaysia, India.
- China expo draws Nvidia, Apple, Micron as Beijing guards AI supply chain — U.S. firms the largest foreign presence at event, demonstrating complex Sino-American ties.
Bloomberg
- Europe Sees 6 Billion Reasons for New Levy on Online Shoppers — A new levy primarily targeting China is set to come into force, adding a layer of trade friction between the two economies.
- Mining Billionaire Calls on China to Push Green Ship Fuel Deal — Penalties against shipping emissions would benefit green hydrogen, a technology supported by China and Forrest, who has focused on pivoting to green technologies.
- Australians Value China Ties Over U.S. as Trump Confidence Slumps — Australia, an open trading nation, has benefited under the shelter of the U.S. security umbrella while prospering from China’s industrialization and emergence as a superpower.
Reuters
- Asian refiners see little room for Iranian oil, leaving China as key buyer after U.S. waiver — Iran’s biggest customer — Chinese independent refiners — will likely remain as the ultimate buyer, even though their appetite is currently weak due to output cuts since May.
Other Publications
- Foreign Policy: China Flexes Its Rare-Earth Muscle — Again — New export restrictions underscore Beijing’s supply chain grip in ongoing tensions with Washington.
- Foreign Affairs: The Mirage of China’s Military Edge — Panic Is Misguided — and Counterproductive.
- AP News: China hits back at U.S. sanctions on tech giants, restricting its exports to American defense firms — The Commerce Ministry said that Chinese companies would be blocked from exporting “dual-use” items to the 10 companies.
- The Economist: China can be a useful bogeyman in American politics — Accusations of influence-peddling can muddy what is really going on.
- Brookings: Are the U.S. and China really in an AI “race”? — U.S. AI innovation is driven by a large amount of private sector investment, while Chinese AI innovation is driven by state policy planning.
