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
- Obscure Chinese Stock Scams Dupe American Investors by the Thousands — The Justice Department is making a push to disrupt the schemes, which use social media to find buyers for risky stocks.
- Trump Officials Weighed Broader China Tech Restrictions Ahead of Trade Talks — Expanding export curbs on chip-making equipment was an option if London talks hadn’t gone well.
- If Iran’s Oil Is Cut Off, China Will Pay the Price — Chinese refineries have become hooked on cheap imports of sanctioned Iranian crude.
The Financial Times
- EU spurns economic dialogue with China over deepening trade rift — Talks to lay groundwork for leaders’ summit in Beijing next month derailed by escalating tensions.
- Chinese brands extend global reach — Spending on social media and AI has helped fuel rapid expansion into overseas markets.
The New York Times
- China Is Unleashing a New Export Shock on the World — As President Trump’s tariffs close off the U.S. market, Chinese goods are flooding countries from Southeast Asia to Europe to Latin America.
- Trump’s Trade and Tax Policies Start to Stall U.S. Battery Boom — Battery companies are slowing construction or reconsidering big investments in the United States because of tariffs on China and the proposed rollback of tax credits.
Caixin
- Ant International’s First Sustainability Report Reveals Extent of Global Expansion and Fuels IPO Speculation — Singapore-based fintech firm Ant International explains its mission to build a trusted digital ecosystem focused on SMEs.
- Opinion: Hydrogen’s Cash Problem — Policy momentum is strong, but funding for hydrogen tech lags due to fragmented capital flows and risk-averse investors. By Chiu Tzu-Kuan and Zhao Sheng.
South China Morning Post
- China to nearly double nuclear power capacity by 2040 in rapid build-up — The reactor-building spree would make China by far the world’s largest nuclear power generator, while the U.S. strives to revive its own industry.
- China hails Nvidia expo appearance as ‘vote of confidence’ amid tensions — The American chip giant will attend China’s flagship supply chain event for the first time in July, despite rising U.S.-China friction over tech issues.
- Can ‘emerging occupations’ solve China’s youth job crisis? Not everyone is sold — New recognised roles — particularly in culture and tourism — have been touted as helping fill employment gaps, but opinions are mixed.
Nikkei Asia
- China’s automakers aim for cars with 100% domestic chips from 2026 — BYD, Geely and SAIC among those racing to meet Beijing’s ramped-up targets.
- As China seeks to end food dependence, U.S. corn heads to Europe — Beijing buying more staple crops from South American producers amid trade tensions.
- Trump tariffs shine spotlight on Chinese targeting Southeast Asian consumers — Trade war with U.S. prompts businesses to focus more on ASEAN region.
- Israel-Iran war poses questions for China on energy and diplomacy — Oil volatility rattles Beijing while drone drama adds new layer to strategic calculations.
Bloomberg
- China’s MiniMax Says Its New AI Reasoning Model Beats DeepSeek — The Shanghai-based company touted the efficiency of its new MiniMax-M1 model in handling complicated productivity tasks, claiming it outdoes all closed-source competitors from China.
- Häagen-Dazs, Starbucks Mull Overhauls in China to Fend Off Powerful Local Rivals — Reasons for this shift include fierce competition from Chinese companies, which have evolved into nimble and sophisticated rivals with a deep connection to local consumers.
Reuters
- China builds a crude oil war chest amid Middle East tensions — While much will depend on the path of crude oil prices in coming weeks, it’s certain China has plenty of scope to lower imports and put downward pressure on prices.
- G7 leaders agree on strategy to protect critical mineral supply, draft document says — China’s decision in April to suspend exports of a wide range of critical minerals and magnets disrupted supplies needed by automakers, computer chip manufacturers and military contractors around the world.
Other Publications
- Foreign Policy: Does Xi Have Trump’s Number? — China has come out ahead in recent dealmaking.
- Rest of World: Humanoid robots, astronauts, and huge lines: Photos from China’s pavilion at the World Expo — Chinese firms iFlytek and Hytera highlighted AI translation and public safety tech — sidestepping disputes over surveillance and trade secrets.
- CSIS: China Isn’t on the G7 Agenda, but It’s Still the Main Event — Behind closed doors, the leaders are surely discussing how Beijing is challenging G7 nations’ security, prosperity, and values.
- Nature: How China can become a biotechnology superpower — After decades of pioneering institutional change in Chinese research, neuroscientist Rao Yi explains why U.S. hesitation might offer China an opportunity to catch up internationally.
