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
- China Loosens Grip on Magnet Exports, Relieving Carmakers — Beijing’s control of rare-earth minerals gives it leverage over U.S. during trade tensions.
- For Luxury Brands, There Are No Replacements as China and the U.S. Falter — Sales of designer merchandise thrive under specific conditions that are still lacking in markets like India.
- Shipping Rates Rise as U.S.-China Trade Truce Drives Import Surge — Rollback of tariffs reverses a sharp drop in trans-Pacific shipments and rates as importers race to stock up for back-to-school, holiday shoppers.
- Opinion: Is ‘Zero Day’ a Preview of Taiwan’s Future? — The forthcoming miniseries dramatizes a Chinese invasion. By Jillian Kay Melchior.
The Financial Times
- Nvidia plans Shanghai research centre in new commitment to China — US chipmaker considers expanding its presence in the country even as sales are hit by Washington’s export controls.
- China’s emerging multinationals learn from earlier pitfalls — Commercially focused lawyers are helping groups navigate overseas markets to ensure investments are sustainable.
- Hong Kong’s fintech ambitions keep lawyers busy on policymaking and deals — Law firms have been advising on fintech regulation to keep pace with innovation in digital assets.
- Legal advisers optimistic about recovery in Chinese M&A activity — Trade tensions and a drop in the biggest deals mask green shoots for smaller-scale buyouts and growth potential of tech sector.
- US considers adding Chinese chipmakers to export blacklist — Some US officials fear the move could jeopardise trade talks with Beijing.
The New York Times
- How 4 Business Owners Are Handling Tariffs on China — An easing in President Trump’s tariffs on Chinese goods gave businesses some breathing room. Long-term planning, though, is still on pause.
- China’s First Police Corgi Has 400,000 Followers and a Nose for Trouble — Fu Zai has won top workplace reviews as an unusual breed of sniffer dog. But his lack of self-control cost him his annual bonus.
- Trump’s Computer Chip Deals With Saudi Arabia and UAE Divide US Government — The New York Times spoke with nine current and former U.S. officials who expressed concern that the deals may have inadequate protections to prevent the technology from benefiting China.
Caixin
- As China’s Rural Migrants Leave Construction, Those Who Stay Are Earning More — Average wages in the construction sector jumped the most among six major sectors and were 15.8% higher than overall migrant salaries, government data show.
- Intel’s China Partners Expect New Chief to Usher in Growth — Intel Corp.’s Chinese partners are hoping new CEO Lip-Bu Tan can steer the struggling chipmaker back on course, as the company undergoes a sweeping overhaul to revive its business.
- Meitu Co-Founder and Wife Defy Hong Kong Property Slump With $141 Million in Purchases — Cai Wensheng buys 25-story commercial building while his spouse acquires a mansion in the upscale Jardine’s Lookout area.
- China’s Polysilicon Industry Slashes Output to Record Lows as Prices Collapse — The manufacturers’ average operating rates drop below 40% as prices have fallen below cash cost levels across the sector.
- Opinion: China, U.S. Should Build on Geneva Talks Momentum — The recent bilateral economic and trade talks in Geneva between the U.S. and China yielded substantive progress, a welcome development for a world economy starved of good news. By Zhang Lantai.
South China Morning Post
- Huawei’s chip unit doubled revenue last year as firm gains China smartphone market share — HiSilicon recorded a surge in revenue in 2024, driven by strong sales of Huawei’s Pura 70 and Mate 70 handsets, according to Counterpoint Research.
- Lawmakers call on American college to end role in Duke Kunshan University — Congressmen argue college partnership creates ‘direct pipeline between US innovation and China’s military-industrial complex’.
- China spurs Nansha as Greater Bay Area’s third hub for innovations, finance, connectivity — Latest measures follow efforts since 2023 to build up Qianhai and Hengqin in southern Guangdong province, and foster ties with Hong Kong.
- US tariffs on pharmaceuticals could hit Chinese export firms’ profit margins: analysts — America is reliant on mainland companies for the raw materials needed to make life-saving drugs, but experts say duties are likely.
- Opinion: China’s message on trade deals is clear: multilateral is the only way — The choice of the Swiss city of Geneva for US-China negotiations was telling, and the breakthroughs achieved are only the start of a long process. By David Dodwell.
Nikkei Asia
- China on track to become top nuclear power generator by 2030 — Beijing approves 10 new reactors as construction stalls in US.
- China’s Xi stood up to Trump’s tariff blitz with years of preparation — Beijing pushed to increase self-reliance in the 7 years since Trump’s first term.
- Opinion: China is not shy about taking on the US in Latin America — American hegemony in its ‘backyard’ may be entering its final years. By Carlos Eduardo Pina.
Bloomberg
- US-China Trade Clash Risks Making Europe Dumping Ground for Cheap Goods — China’s widening trade surplus with the European Union is fueling fresh concerns that the 27-nation bloc risks becoming a dumping ground for cheap goods in the volatile tariff confrontation between Washington and Beijing.
- Trump’s Rush to Cut AI Deals in Saudi Arabia and UAE Opens Rift With China Hawks — President Donald Trump’s flurry of artificial intelligence deals during his tour of the Middle East is opening a rift within his own administration as China hawks grow increasingly concerned about national security and economic interests.
- Trump to Keep 30% China Tariffs Till Late 2025, Analysts Say — Donald Trump’s tariffs on China will likely remain at a level expected to severely curtail Chinese exports to the US after the 90-day truce, analysts and investors say, suggesting Beijing may have to endure further economic pain despite active talks.
Reuters
- Why China’s neighbours may want currency deals with Trump — There is greater urgency for China’s immediate neighbours Japan, Korea and Taiwan, which risk being displaced from chip and autos supply chains as China and India expedite negotiations.
- Tariff cuts ease mass China layoffs threat, but job market pain persists — This year’s U.S. tariff hikes left lasting economic damage and even after the Geneva talks remain high enough to continue to hurt the job market and slow Chinese growth.
- With US trade war, China now top buyer for Canadian crude on Trans Mountain pipeline — While oil is currently exempt from U.S. tariffs, Canada has sought to diversify its exports due to brief U.S. duties on its crude and Trump’s threats to annex the country.
Other Publications
- POLITICO: US space chief warns of emerging threats from China and Russia — Gen. B. Chance Saltzman, speaking at the POLITICO Security Summit, said China’s “kill web” is the biggest threat in U.S. adversaries’ growing space capabilities.
- The Economist: Young Chinese are turning to AI chatbots for friendship and love — It is not doing anything for the low birth rate.
- The Information: China Tightens Control Over AI Data Centers — Chinese officials have communicated to leading technology companies their intention to take a more active role in the oversight of AI data centers and the specialized chips used in their development.
- BBC: Nissan says it could share global plants with Chinese state firm — The Japanese firm, which employs thousands of people in the UK, told the BBC it could bring Dongfeng “into the Nissan production eco-system globally.”
