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
- Sinopec Says Has Enough Oil Inventory to Ensure Stable Production for Now — It said it has developed multiple contingency plans for different scenarios.
- Fast Chips, Big Money, 3:30 a.m. Calls: Taiwan’s Urgent Quest to Win Over Trump — The stakes couldn’t get any higher for Taipei as America’s leader takes a softer tack on China.
- The New Weapons of Global Power Are Oil, Rare Earths and Microchips — Last year, China used its control of roughly 90% of the world’s supplies of rare-earth magnets to checkmate the U.S. in trade negotiations.
- The Silicon Valley Salesman Accused of Helping China Get Nvidia’s Top Chips — Wally Liaw, co-founder of Super Micro Computer, returned to the company after an accounting scandal. Now prosecutors say he violated U.S. export laws.
- XPeng Posts First-Ever Profit on Strong Sales, Margins — XPeng’s result means all three of China’s emerging EV brands are now profitable, however its American depositary receipts fell premarket.
- Opinion: The U.S. Ammo Shortage Is Worse Than You Think — Congress and the Pentagon need to revitalize the U.S. defense industry base—and they need to act fast. By Seth G. Jones.
The Financial Times
- China battery trio gain $70bn as Iran war sparks ‘paradigm shift’ — Share price rises for clean energy companies outstrip oil majors as investors bet on switch to renewables.
- China touts itself as ‘harbour of stability’ to global CEOs — Premier Li Qiang paints contrast to US at business gathering in Beijing as Donald Trump gets bogged down in Iran.
- Chinese IPOs in US falter amid scrutiny of manipulation schemes — Regulators crack down after trading in ‘toxic’ small-cap stocks from China inflicted losses on US investors.
- Taiwan concerned by depletion of US missile stocks during Iran war — Some weapons used in Gulf would be crucial in early phases of any conflict with China.
- Opinion: Britain must be more vigilant to the risk of sabotage by hostile states — If Moscow and Beijing are determined to destabilise the west then new strategies are needed. By Camilla Cavendish.
The New York Times
- Taiwan Debates Military Spending as Choices Over U.S. and China Loom — Tensions in the opposition Nationalist Party could surface this week as lawmakers argue over additional defense funding intended to counter Beijing’s growing might.
- Laid Off in Midlife, China’s Reform Generation Braces for Downward Mobility — The future once seemed boundless for those who grew up during China’s reform era. Now in middle age, they are pinned between economic stagnation and institutional age discrimination.
- Scramble for Jet Fuel Shows How Energy Shortages Are Rippling Across Asia — As China and other major suppliers of refined oil in the region restrict exports, import-dependent countries are desperate to secure fuel supplies.
- Opinion: Why More U.S. Officials Should Go to China — Seeing China firsthand can sharpen U.S. policy, reveal Chinese strengths and weaknesses and reduce costly miscalculations. By Jing Qian and Neil Thomas.
Caixin
- China’s Insurance Reform Brings Clarity and Volatility — Shift to market-based assumptions exposes balance sheet risks while regulators seek to stabilize the industry.
- China Internet Finance Body Raises Alarm Over OpenClaw AI — The National Internet Finance Association of China cites fraud, data and transaction risks as downloads surge.
- Chinese Milk Tea Makers Push Farther Afield as Southeast Asia Gets Crowded — Chagee, Molly Tea and Mixue are among the brands exploring markets like the U.S., South Korea and the U.K. as they hunt for new customers.
- China Carmakers Accelerate Overseas Push as Domestic Growth Slows — Chery, BYD and Geely expand exports and local production, but rising tariffs and policy shifts complicate global ambitions.
- Suning Founder’s Retail Empire Unravels After Years of Reckless Investments — The company’s debt restructuring underscores the collapse of Zhang Jindong’s once-sprawling business after his failed attempts at diversification.
South China Morning Post
- How China’s tech transformation is putting the ‘world’s factory’ in a tough spot — Dongguan reflects a growing polarisation in the Chinese economy, with many factories and workers left behind as hi-tech firms surge ahead.
- China will stockpile critical resources and strengthen energy security to avoid trade shocks — Beijing boosts economic self-reliance and long-term stability as a matter of ‘national security’ while Middle East conflicts continue.
- Does the USS Tripoli’s deployment to the Middle East create a strategic opening for China? — Amphibious assault ship’s transfer said to cause ‘dip’ in deterrence against Beijing’s military activity around Taiwan and South China Sea.
- Global drug giants double down on China amid trend to build self-reliant supply chains — Multinationals are building self-reliant supply chains in China to insulate local markets from potential trade disruptions, say analysts.
- Opinion: As China charts a new course, Hong Kong writes its next chapter — Beijing’s plans provide assurances of steady, high-quality growth and stable relations, with Hong Kong playing a bigger role in national development. By Cui Jianchun.
Nikkei Asia
- China raises fuel prices in record hike, activates emergency curbs — Energy mix heavy on coal, renewables seen limiting consumer impact.
- China’s e-trucks poised to dominate nascent EU market — Lack of ecosystem a hindrance but BYD, Sany and others are expanding capacity.
- Britain needs China to help build clean tech, says UK renewables CEO — Octopus boss cites superior Chinese know-how, says Iran war shows need to diversify.
- CATL, BYD join over 100 China firms in perovskite solar cell race — Japan solar manufacturers strategize to avoid head-on competition in thin, flexible panels.
- China humanoid robot maker Unitree looks to raise $610m in Shanghai IPO — Company says it will use half of the funds to develop AI models.
Bloomberg
- China Is Ripping Up the Rulebook for the Global Auto Industry — While legacy automakers are trying to reduce their typical five- to seven-year product plans, their Chinese rivals can deliver a new model in under two years.
- Apple CEO Praises China Partners as Beijing Applies Pressure — Tim Cook commended developers and the company’s partners in the country, days after the ruling party’s flagship newspaper criticized the iPhone maker for monopolistic policies.
- China to Issue New Quotas for Investing Overseas, Official Says — China plans to increase the amount of money that approved investors can channel into overseas assets as Beijing loosens its control over capital outflows.
Reuters
- China’s record oil output reaches limits of what’s possible — Offshore growth has started to taper off and higher-cost unconventional resources prove increasingly difficult to exploit.
- Some US car buyers envy what they cannot have — affordable Chinese EVs — As the average price of a new car in the U.S. approaches $50,000, more of the car-buying public is open to buying cheaper Chinese cars, despite resistance from the industry.
- China pledges more balanced trade and further opening of the economy after record surplus — China will import more high-quality foreign goods and work with all parties to promote optimised and balanced trade development and expand the global trade pie.
Other Publications
- Foreign Affairs: How China Forgot Karl Marx — The Chinese Economy Runs on Labor Exploitation.
- The New Yorker: China’s Shifting Relationship to the Countryside — Catherine Hyland’s images show what happened after the giant migration to the cities.
