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
- InSilico Is on a Mission: Be No. 1 in China, Create ‘God Drug’ With AI — The pharma company, the first to use generative AI to develop a drug that reached clinical trials, is betting longevity treatments will fuel its next phase of growth.
- China Sharpens Tools for Hitting Back at Foreign Sanctions — Beijing is preparing a new law that would add to its ability to punish foreign companies and individuals deemed to harm Chinese interests.
- DeepSeek Looks to Double Workforce as Fresh Funding Fuels Growth — The Hangzhou-based company said it is hiring for 27 type of technical roles, including development engineers and AI product managers, with all positions open to interns.
- U.S. Bans Polestar, Chinese-Owned EV Maker, From Selling Cars in the U.S. — A government rule prohibiting Chinese software in cars resulted in Polestar bowing out of the U.S. market.
The Financial Times
- DeepSeek plans hiring spree in escalation of China’s AI talent war — Advertised roles suggest company focused on commercialising frontier research.
- Chinese carmakers ‘knocking at U.S. gate’ from Mexico and Canada — Beijing-subsidised vehicles emerge as flashpoint in North American trade relationship.
The New York Times
- ‘Too Good to Be True’: A Chinese Study on Timing Cancer Therapy Is Retracted — In a notice flagging a series of problems with a clinical trial, the journal Nature Medicine said its editors “no longer have confidence in the integrity of the results.”
- Chinese A.I. Models Close the Gap With Anthropic and OpenAI — Silicon Valley engineers recently flocked to new technology from a Chinese company, Z.ai, that is almost as good as its American competitors but much cheaper.
Caixin
- Supermarkets in China Hawk Own-Brand Goods in Bid to Diversify — From global giants to local supermarket chains, brick-and-mortar retailers in China are racing to expand private-label brands in a bid to stand out in an increasingly crowded market.
- Beneath the Sea, China Tests the Future of AI Power — Ten kilometers off the coast of Shanghai, beneath the waves, adjacent to more than 50 offshore wind turbines, a submerged cylindrical cabin houses a high-density computing hub.
- China Audit Reveals Billions of Rural Funds Diverted for Local Debt — A sweeping national audit revealed that dozens of local governments misappropriated $4.12 billion intended for rural revitalization to service mounting debts and prop up state enterprises.
- China Targets Drug-Laced E-Cigarettes Amid Surge in Youth Addiction — Supreme People’s Court warns of a new wave of synthetic drug abuse as etomidate surpasses heroin in popularity among minors.
- Dreame Dials Down Ambitious Expansion Amid Growing Financial Scrutiny — The shift underscores the growing challenge of financing Dreame’s breakneck expansion, even as the company continues to thrive overseas.
South China Morning Post
- Is the U.S. banning drones from China until it can make better ones itself? — Washington forced to weigh public comments backing popular Chinese-made devices as it reckons with new reality of shared tech frontier.
- China tests satellite-linked tracking device on China-Europe railway to stop cargo thieves — Home-grown navigation system will allow for real-time tracking of containers, improving security and safety on vital transport route.
- Can China’s strict policing model ‘silence the guns’ in Africa? — As Beijing partners with the UN and the African Union to train officials on small arms control, analysts question its impact.
Nikkei Asia
- China to roll out nursing care insurance nationwide as population ages — Regional disparities and local government finances among lingering concerns.
- Ant-backed DSC lists on Nasdaq in China’s first cross-border IPO of 2026 — Used-car dealer solutions provider raises $51m, clearing Beijing’s regulatory hurdles.
- Bangladesh courts China to drive infrastructure and trade push — Bangladesh PM Rahman raises eyebrows by visiting Beijing before New Delhi.
- Chinese-owned Lotus bets on hybrid SUV for U.S. turnaround — Bruised by tariffs, British luxury car maker considers local production.
- Opinion: The myth of a China-Russia axis — The two cooperate when interests match, but true military alliance remains unlikely. By Lyle Goldstein.
Bloomberg
- Chinese Hedge Funds Warn the AI ‘Super Bubble’ Is Ready to Burst — Two of China’s best-known hedge fund managers are warning that the artificial intelligence boom in global stock markets has become an unsustainable bubble.
- One in 10 New Cars Sold in Europe in May Was Chinese — Chinese cars made up more than one in ten new purchases in Europe for the first time last month, as consumers flock to models that offer better features for less money.
- China Gives Coal Room to Grow in New Five-Year Energy Plan — China is leaving room for coal consumption to grow in coming years, as the stability of the world’s largest energy market continues to outweigh climate concerns.
Reuters
- Chinese brokerages push for LME membership to expand global metals role — The push reflects efforts by Chinese firms to capture a larger share of revenue from metals derivatives trading and further the brokers’ ambitions for global expansion.
Other Publications
- The Washington Post: In AI race vs. U.S., China eyes a come-from-behind victory — U.S. AI companies seem to be in the lead, but that could be short-lived as Chinese competitors offer cheaper products with more commercial appeal worldwide.
