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
- One Megabuyer—China—Finds a Way to Get Mideast Oil — Beijing reaps benefits of steady partnerships with both Iran and its foes.
- Shein Discloses FTC Investigation Into Fast-Fashion Retailer’s U.S. Operations — The company didn’t disclose what the FTC is investigating, or when the probe began.
The Financial Times
- World’s biggest EV battery maker pivots to AI, grids and ships — CATL aims to become market leader for battery energy storage systems.
- China’s commercial space boom poses strategic challenge for the US — Research warns Washington should be alarmed at military implications of the sector’s rapid expansion.
- Mark Zuckerberg says US should not ban Chinese AI — Meta chief warns against ‘regulatory capture’ of American rules on the technology.
The New York Times
- Trump’s Tariffs Are Sending Some Companies Back to China — For some U.S. brands seeking a location for their factories, the economic logic is once again pointing to China.
- Opinion: The Hidden Cost of China’s Free A.I. — The United States is selling the best artificial intelligence models in the world. China is giving away the second-best for free. By Tal Feldman.
Caixin
- Zijin-Controlled Manono Project Launches Congo’s First Lithium Exports — The Democratic Republic of Congo has authorized the first exports of lithium products from a major mining project controlled by Shanghai-listed Zijin Mining Group Co.
- China’s Local Governments Offer Cash to Spur Marriage and Births — Chinese local governments, villages and companies are offering cash payments and consumption vouchers to newly married couples.
- Beijing Pushes Back on Overcapacity Claims as Trade Frictions Rise — China’s Ministry of Commerce issued a broad position paper on Tuesday rejecting international claims of industrial overcapacity.
- Consumer-Electronics Makers Bet on AI Agents as Phones, Glasses Compete — The consumer electronics industry is pivoting toward AI-agent-driven hardware capable of continuous perception.
South China Morning Post
- Record Chinese biotech out-licensing meets rising US scrutiny — Surging cross-border deals out of China are running headlong into intensifying US national security fears.
- US bans new Chinese robots, power inverters in latest tech crackdown — Trump administration cites threats to US national security and supply chain vulnerabilities as reasons for latest sanctions.
- US posts photo of coastguard working with Taiwan after Beijing starts patrols — De facto American embassy says the two sides are coordinating on search, rescue, disaster relief and maritime law enforcement.
- Nvidia CEO Jensen Huang meets US officials as scrutiny grows over China chip access — Washington visit comes amid investigation into whether restricted processors were used to train Moonshot AI models.
Nikkei Asia
- China, Russia exercises highlight holes in Japan’s Pacific defenses — Tokyo weighs more monitoring, deterrence in long-overlooked area with key sea lanes.
- China’s BAIC Motor flags loss as Mercedes-Benz joint venture skids — German luxury marque says first-half China sales fell 28%, books impairment charge.
- US bans new Chinese humanoid robots to protect AI buildout — Trump’s FCC cites national security risk; move seen as blow to Unitree.
Bloomberg
- Hermès Plunges as China Weakness Hits Leather Goods Sales — Hermès International SCA shares fell to the lowest level in more than three years after leather goods sales came in short of investors’ expectations.
- Moonshot AI Surpasses Funding Goal to Hit $35 Billion Value — The company is now seeking funding at a $50 billion pre-money valuation, aiming to secure capital before an initial public offering in Hong Kong as soon as this year.
- PetroChina Said to Mull LNG Canada Stake Sale to Fund Growth — PetroChina Co. is weighing options to sell part of its shares in LNG Canada Development Inc. to help fund a planned expansion.
Reuters
- Iran to get Chinese shoulder-launched missile systems in weeks, sources say — Iran is expected to receive within weeks a first shipment out of up to 400 Chinese-made shoulder-fired air-defence missile launchers.
- Shared beds, shrinking budgets: China’s young workers feel economic squeeze — Chinese sales agent Winnie Zeng has taken an unusual step to protect herself from an uncertain future: she now shares her rented bed with a stranger to cut costs.
- China regulator to meet solar industry on curbing competition, local media reports — The meeting is aimed at curbing what authorities describe as irrational competition in the sector.
Other Publications
- The Atlantic: The Great Chinese Oil Mystery — America’s greatest rival is single-handedly averting a global energy crisis. No one knows how the country is doing it—or why.
- Foreign Affairs: Beijing’s Next Play for the South China Sea — How China Is Normalizing Its Control.
