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
- Europe Learns It’s Hard to Start a Trade War With China During a Heat Wave — The continent’s citizens are rushing to buy Chinese air conditioners while EU officials are challenging Beijing over a flood of exports.
- The Graduate-School Dropout Toppling China’s Academic Stars — Shamed by a blogger, Chinese universities wage blitzkrieg against academic fraud.
- Beijing Says Pilot Who Crashed Into Skyscraper Had Suicidal Thoughts — Man, 66, was sole fatality after light aircraft hit tower in China’s capital, raising security concerns.
The Financial Times
- ‘China’s Instagram’ targets male users as RedNote readies for IPO — Social media platform Xiaohongshu accelerates plans for Hong Kong listing.
- Chinese energy group’s shares triple in Asia’s biggest IPO this year — China Resources New Energy raises $3.6bn amid heavy demand from retail investors.
The New York Times
- China Releases Details About Pilot Who Crashed Plane Into Beijing Skyscraper — City authorities said the pilot had suffered from insomnia and anxiety and had expressed a desire to end his life.
- Imprisoned Chinese Journalist Seeks Medical Parole for Lung Tumor — Dong Yuyu is stuck in a dispute with prison authorities in Beijing over where to get treated for a possible cancer, his family said.
- Opinion: The World Has Failed the Uyghurs — If the global community can’t stop China’s atrocities against the Uyghurs, it must help us keep our culture alive in exile. By Tahir Imin.
Caixin
- Man Who Reported Xinjiang Energy Boss for Graft Gets Nearly Seven Years in Prison — A Beijing man who exposed the corruption of a high-ranking regional official was sentenced to nearly seven years in prison for extortion.
- AI Frenzy Crowns Electronics as China’s Biggest Stock Sector — An explosive AI rally propelled electronics past banking to become the largest sector in the Chinese mainland’s stock market.
- State Council Pledges Policy Support for AI Innovation and Foreign Trade — Chinese Premier Li Qiang chaired a State Council executive meeting on June 29 to review the development of artificial intelligence.
- Opinion: ASEAN Is Not a Repackaging Center for Chinese Goods — Has ASEAN evolved into a genuine global manufacturing hub, or is it merely functioning as a trade conduit to bypass international tariffs? By Cheng Shi.
South China Morning Post
- Wang Yi warns Marco Rubio to approach Taiwan affairs with ‘utmost caution’ — Beijing’s top diplomat tells US Secretary of State to expand cooperation, manage risks in Taiwan-related issues during call on Tuesday.
- Alibaba agrees to pay US$600 million to settle US probe into illegal product sales — Amount resolves dispute with US government over allegations firm sold and imported illegal pharmaceuticals and controlled substances into US.
- US won’t renew USMCA trade pact as Greer targets Canada’s China ties — Beijing not named in official notice, but US trade chief blames Canada’s courtship of Chinese investment as major obstacle to new agreement.
- China’s Kling AI nears US$3 billion round at US$18 billion valuation: sources — The Kuaishou Technology spin-off aims to start Hong Kong listing process within a year, as annual recurring revenue soars following latest AI video model release.
Nikkei Asia
- Analysis: China detentions cast shadow over Japan’s legacy in Dalian — Economic retaliation ices a relationship that not even Tiananmen could chill.
- China solar panel material JV remains dormant months after launch — Warnings from antitrust authorities stall efforts to consolidate polysilicon capacity.
- BYD’s first-half sales fall 16% on China’s EV subsidy changes — First January-June drop in 6 years shows domestic market slump.
- Opinion: China’s influence pipeline is already active in Japan’s information space — Beijing is repackaging state narratives through aggregators, broadcasters and social media. By Sze-Fung Lee.
Bloomberg
- EU Officials Fear Leaders Will Balk in Confronting China — The European Union’s efforts to reset its trade relationship with China are struggling due to a lack of political will to take decisive action.
- ‘In Case of Emergency’: Taiwan’s Rising Rich Flock to Singapore — Taiwanese business owners and entrepreneurs are increasingly keeping a portion of their wealth in Singapore due to its political stability, low taxes, and perceived safety from geopolitical risks.
- China’s Private Refiners Snap Up Middle East Oil as Prices Slide — China’s independent refiners are taking advantage of cheaper Middle Eastern oil after flows accelerated through the Strait of Hormuz.
Reuters
- Senior Chinese lawmaker to attend Khamenei’s funeral — Senior Chinese lawmaker He Wei will attend the funeral of late Iranian Supreme Leader Ayatollah Ali Khamenei in Tehran, the Chinese foreign ministry announced on Thursday.
- A new, inexpensive Chinese AI model is catching up with Anthropic, OpenAI on their home turf — Since DeepSeek shocked markets early last year with its cheap but powerful AI model, global consumers have been faced with a choice.
- Chinese and US risks mean EU chip sector faces a ‘bleak future,’ report says — Chinese export controls, technological dependence on the U.S. and the structural weakness of Europe’s chip industry mean it faces a “bleak future” unless it can act swiftly.
- China restricts some Fortescue iron ore cargoes as talks drag, sources say — China’s state iron ore buyer has asked some domestic steel mills not to take delivery of certain portside iron ore products from Fortescue.
Other Publications
- Wired: How Trump Helped China Make America’s Cheapest EV — Slate is the latest automaker to transition to lower-cost batteries built on Chinese technology, driven in part by the repeal of EV tax credits that required materials to be sourced domestically.
- The Guardian: China has accused Japan of ‘reckless militarism’. What’s behind the latest tensions? — China has denounced Japan’s ‘reckless new militarism’, while Tokyo has protested what it claims are Beijing’s defensive incursions, as relations sour.
- The Lowy Institute: The World Cup China is winning off the pitch — As a commercial presence, China is here, there … and everywhere.
- CSIS: Troubled Straits: Analyzing Trade Chokepoints in the South China Sea — Each year, trillions of dollars of goods flow through the South China Sea, making it the world’s most consequential maritime corridor.
- The Economist: China hushes up a plane crash in the heart of its capital — A light aircraft flew into Beijing’s tallest building. A news blackout followed.
