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
- XPeng Guides for Surging Revenue, EV Sales as Loss Narrows — The Chinese electric-vehicle maker said that its net loss was 1.33 billion yuan, equivalent to $183.9 million, narrowing slightly from a year earlier.
- BYD Shares Touch All-Time High After Unveiling New Charging Tech — BYD’s shares rose in Hong Kong after the Chinese electric vehicle giant unveiled its new fast-charging technology and announced an employee share incentive plan.
- Opinion: Trump Doesn’t Faze Xi Jinping — China strengthens its ties with Russia and Iran while Western alliances are fraying. By Walter Russell Mead.
The Financial Times
- Costco leans on mainland China suppliers as US tariffs bite — US companies at risk of scrutiny from Beijing as political tensions mount.
- BYD shares hit record high on 5-minute EV charging claims — Leading Chinese electric vehicle maker says latest models can charge up as fast as filling a petrol tank.
- Trump says China’s Xi to visit US in ‘not too distant future’ — Hint at summit comes amid escalating trade conflict between Washington and Beijing.
The New York Times
- Hong Kong Adds to China’s Growing Criticism of Panama Canal Deal — The city’s chief executive said a deal between the Hong Kong conglomerate CK Hutchison and BlackRock, a major American investment firm, requires “serious attention.”
- Chinese Nationalists Praise Trump’s Cuts to Voice of America — Beijing has long criticized the outlet, as well as Radio Free Asia, for highlighting human rights abuses in China.
- DeepSeek Is Embraced in China by Government Nationwide — Government bodies nationwide have been eager to show they are using DeepSeek’s A.I. technology since the company’s founder met with Xi Jinping, China’s leader.
- Opinion: The Hidden Cost of Trump’s Trade War on China — Progress on battling fentanyl trafficking could be lost, and so could American lives. By Brandon P. Yoder.
Caixin
- China Tables Fiscal Salvo for Flagging Domestic Demand — In view of mounting challenges abroad, analysts agree the domestic market needs to play a bigger role in driving growth — more fiscal stimulus can help boost consumer spending power and confidence.
South China Morning Post
- Chinese EV maker Nio and battery king CATL to join forces on swapping stations, technology — CATL, which is planning a US$5 billion Hong Kong share listing, will invest up to US$345.6 million in Nio.
- Chinese economist calls for bold action to fill climate leadership vacuum — Former central bank official says China can take up position abdicated by US if it adopts a strategy of mutual benefit in climate policy.
- China’s Sora-like Vidu breaks into Hollywood with deal to produce GenAI anime series — The partners will launch a 50-episode short science-fiction anime series on ‘mainstream global social media platforms’ in 2025.
- Alibaba’s ‘killer app’: Quark draws positive reviews in China as AI agent race heats up — Quark shows Alibaba’s ambition to be competitive in the market for AI agents, like Butterfly Effect’s Manus and OpenAI’s Deep Research.
- Opinion: Will AI and robots drive China’s next consumer spending spree? — China is seeking the next ‘big items’ to encourage consumers to open their wallets. Technology looks to be a key. By Zhou Xin.
Nikkei Asia
- China venture capitalists hold back on AI deals despite DeepSeek buzz — India emerges as Asia’s No. 2 market for artificial intelligence dealmaking.
- ‘Doxxing’ scandal casts shadow over Baidu’s AI model release — Angry internet users in China call for boycott of company’s cloud services.
- China lender ICBC backs Xi’s private-sector push with $11bn tech fund — Bank of China also ramps up startup support as Beijing looks to boost economy.
- USAID freeze hamstrings programs in Thailand, Vietnam and beyond — China eyes chance for Southeast Asia engagement with U.S. seen as less reliable.
- China set to tighten export curbs on battery, chip material tech — Beijing seeks to maintain advantage in gallium and cathode production.
Bloomberg
- US Drone Maker Skydio Wants to Take the Country’s Airspace Back From China — National security concerns could help the startup chip away at the industry’s global leader.
- Cheap Chinese Cars Are Taking Over Roads From Brazil to South Africa — Trump’s tariffs look powerless to stop the incursion of inexpensive cars from China — and may speed it up.
- Opinion: This Is China’s Chance to Prove It’s a Climate Leader — With the US out of the Paris accords (again), the world’s biggest polluter should show it’s serious about slashing emissions. By The Editorial Board.
Reuters
- Cobalt produced by China’s Lygend in Indonesia skirts Trump tariffs — The traders shipping Lygend’s cobalt are using Indonesia’s tariff-free status to sell metal more cheaply to U.S. customers facing levies on Chinese and Canadian supply, the sources said.
- Why are Chinese automakers like BYD launching fast-charging EV systems? — Chinese automakers are increasing using such technologies as key selling points to attract buyers in a hyper competitive market and such technologies have been credited for contributing to the high adoption of EVs in China.
- China retail sales pick up as Beijing turns to consumers to ease US trade pressure — In the annual parliament meeting earlier this month, China’s leaders pledged stronger fiscal and monetary support for the economy, with a particular emphasis on spurring domestic consumption.
Other Publications
- Foreign Policy: Can South Korea Join the Frontier AI Race? — DeepSeek has prompted midsize powers to get in the game.
- Foreign Affairs: The Fragile Axis of Upheaval — An Autocratic Alliance Is Mostly an Illusion—but Could Become a Self-Fulfilling Prophecy.
- The Washington Post: China has a defense against Trump’s trade war. A great wall of pork. — Beijing’s tariffs on U.S. farm goods will have little short-term impact on Chinese consumers — making it ideal for inflicting political pain on Trump, analysts say.
- The Economist: Can anything get China’s shoppers to spend? — An economic recovery depends on it. Yet a new action plan may not do the job.
- BBC: Why is China spending billions to get people to open their wallets? — The cause of low consumption is straightforward: Chinese consumers either don’t have enough money or don’t feel confident enough about their future to spend it.
