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
- Guo Wengui, China Critic and Tycoon, Sentenced to 30 Years for Fraud — After conviction in U.S. court, Trump administration faces calls to pardon or deport the Beijing gadfly who built a devoted following.
- Soitec Shares Climb on Partnership With China’s ZenSemi — The French company says it will supply ZenSemi with its 300-millimeter power-silicon-on-insulator substrates for integrated circuit production.
- China’s Manufacturing Activity Expands, Buoyed by Exports — The official manufacturing purchasing managers index edged up to 50.3 for June, from May’s 50.0.
- Taiwan Steps Up Probe Into AI Hardware Smuggling — Taiwanese authorities investigate unauthorized diversion of Super Micro Computer AI servers to China.
The Financial Times
- How China wriggled free when Trump closed a tariff loophole — Chinese sales platforms and delivery services have adapted to survive the end of the ‘de minimis’ allowance.
- The young Chinese choosing life in ‘ghost cities’ — Urban castaways are making homes in half-empty towers left over from the world’s biggest housing boom.
- Chinese exile Miles Guo given 30 years in prison for $550mn fraud — Businessman had fled to the US claiming persecution and then allied himself with the Maga movement.
- Supermicro Taiwan offices raided in chip smuggling probe — Server maker’s shares fell about 8% after news of the investigation.
- Opinion: What would multilateral ‘AI arms control’ look like? — Given the competition, it’s debatable whether a US-China safety deal is even possible. By Chris Miller
The New York Times
- China Tightens the Screws on Japan — Beijing’s latest pressure tactics include flying bombers near Japan, detaining businesspeople and restricting the exports of rare earths.
- Former Chinese Billionaire and Bannon Associate Is Sentenced for Fraud — Guo Wengui, a Chinese businessman who transformed himself from a Beijing insider into an anti-Communist crusader and ally of the American far right, is sentenced for fraud.
Caixin
- In Profile: The Man Behind China’s Leading Memory Chipmaker — Behind the company — now the world’s fourth-largest DRAM-maker by sales — is serial entrepreneur Zhu Yiming.
- In Depth: Repayment Question Looms as China Speeds Up Special Bond Issuance — The National Audit Office found 132.6 billion yuan ($19.5 billion) in funds that had been used problematically.
- Summer Davos Panelists Tackle Drug Affordability Amid Rapid Innovation — China’s pharmaceutical sector has grown into the world’s second-largest market, accounting for roughly 30% of the global pipeline for innovative drugs.
South China Morning Post
- Energy storage sector tested as China sets 60-day payment cap in anti-involution campaign — China enforces stricter payment rules for EV and energy storage batteries in a bid to curb disorder and build a resilient supply chain.
- China claims biggest AI model trained on local chips, as Meituan releases LongCat-2.0 — LongCat-2.0 boasts 1.6 trillion parameters and a million-token context window, on par with DeepSeek’s latest flagship model.
- Just how far are China’s local officials going in falsifying performance data? — The cases are the clearest examples yet of the behaviour Beijing is targeting in its campaign on the ‘correct view of political performance’.
- Why a light plane crash in Beijing created a security dilemma for authorities — Flight schools have been grounded and safety inspections are being carried out after the aircraft hit the tallest building in the capital.
Nikkei Asia
- China finds audience for talk of Japan ‘militarism’ beyond Russia, North Korea — Veiled warnings appear in joint statements with Pakistan, Bangladesh and Myanmar.
- China is a winner of Iran conflict: Asia hand Kurt Campbell — Beijing’s energy stockpiles allow it to weather Hormuz closure, says former Biden official.
- China’s Xiaomi, Oppo, Vivo cut 2026 smartphone targets again: sources — Rising costs and component shortages lead some brands to slash outlook by up to 30%.
Bloomberg
- China Clamps Down on Issuance of Higher-Yielding Offshore Debt — Chinese authorities are discouraging firms from raising money offshore at higher yields to clamp down on risks among municipal borrowers.
- China Seen Lifting Some Fuel Export Curbs on Ample Supplies — Beijing has informed certain state refiners that they’re now allowed to export fuels such as gasoline and diesel to a wider range of countries.
- EU and China Agree on October Deadline to Reset Trade Ties — The two sides will work to address a variety of issues plaguing the EU-China economic relationship, including intellectual property rights and World Trade Organization reforms.
Reuters
- China’s Nexchip Semiconductor seeks up to $890.3 million in Hong Kong share sale — The chip firm is offering 216.2 million shares at maximum HK$32.30 each.
- Ferrari and BMW join Tesla, China in switch from copper to cheaper aluminium — The decisions follow similar moves by Tesla and Chinese EV makers and reflect a broader industry trend.
- Ralph Lauren wins China superfans by selling the American Dream – at the right price — Collector Xiao Neng says he has spent at least $1 million on Ralph Lauren clothing over the past four to five years.
- Chinese foreign minister to visit Denmark, Sweden, Finland, Norway — China’s Foreign Minister Wang Yi will visit Denmark, Sweden, Finland and Norway over July 2-8.
Other Publications
- The Guardian: EU sets up three months of talks with China over €360bn trade deficit — Two sides agree to try to make bilateral relationship ‘more balanced’ after weeks of threats.
- Peterson Institute for International Economics: Why the US-China trade war lacks the guardrails of the past — The risk of further escalation, and even military conflict, remains because the conditions that have prevented other trade wars from turning violent are not present here.
- Foreign Affairs: Extreme Weather Will Upend U.S.-China Competition — The Cost of Falling Behind on Climate Adaptation.
