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.
Paid subscribers automatically have this list emailed directly to their inboxes every day by 10 a.m. EST. Subscribe here.
The Wall Street Journal
- China Confirms Exit Ban on Wells Fargo Banker — Chenyue Mao has been blocked from leaving the country because she ‘is involved in a criminal case,’ China’s Foreign Ministry says.
- Chinese Rare-Earth Magnet Exports Surge After U.S. Trade Truce — Despite a detente on China’s restrictions on the critical manufacturing inputs, shipments remain far below last year’s levels.
- How China Built a Global Port Network — Europe illustrates how Chinese companies gained market share to fuel the nation’s exports.
The Financial Times
- EU must strengthen Asian security ties despite US pressure, says Kallas — Brussels’ chief diplomat pitches bloc as more reliable partner than Washington.
- US embassy in China warns exit bans risk straining bilateral relations — Latest case targeting commerce department employee comes amid heightened tensions over trade war.
- China land sales in smaller cities hit lowest level in a decade — Slump in transactions highlights difficulty of reviving national property market.
- Daimler Truck considers China production exit as it faces ‘crazy’ down cycle — Diesel vehicle sales hit by shift to LNG while US tariffs and weak demand in Europe add to German group’s woes.
- A shelter for Shanghai’s homeless — Texan Jimmy McWhinney set up a ‘renewal’ centre for those in need. But first he had to persuade people to come.
- Japan tells its companies in Taiwan: ‘You’re on your own’ — FDI has slumped as businesses are warned to take on burden of protecting their staff if Beijing attacks.
The New York Times
- Chinese Officials Helped Cover Up Lead Poisoning of Children, Report Says — Health officials tampered with blood tests of some of the more than 200 children who were sickened by food tainted with lead, an investigation found.
- China’s Hardball Tactics Set Tone for Difficult Summit with Europe — Beijing is betting that economic pressure and diplomatic defiance will force concessions, but its stance could put more strain on its ties with Europe at a crucial time.
- China Exit Ban on Wells Fargo Executive Stokes Foreign Business Anxiety — A Wells Fargo banker and a U.S. government employee were blocked from leaving, and a Japanese pharmaceutical executive was imprisoned, even as Beijing tries to court overseas investors.
- Tear It Down, They Said. He Just Kept Building. — Defying demolition orders, a Chinese man turned his home into a rickety 11-story tower. Now tourists are coming.
- One of These BRICS Is Not Like the Others — President Trump’s attacks on the group of emerging economies, which includes Brazil, Russia and China, have put one member — India — in an uncomfortable spot.
- As Trump Courts a More Assertive Beijing, China Hawks Are Losing Out — The Trump administration has dialed back aggressive measures against China and reversed its position on technology controls as the president angles for a Chinese trip later this year.
Caixin
- A New Gold Rush Begins in China’s Hard Tech Sector — The Shanghai Stock Exchange has officially launched a sci-tech growth tier — a new section within its tech-heavy Nasdaq-style STAR Market.
- Chinese Regulators Demand Tech Giants End ‘Instant Retail’ Subsidy War — Meituan, JD.com and Ele.me told to break cycle of unsustainable discounting.
- Opinion: Behind the Headlines of China’s Consumption Conundrum — Most economists agree that even if China leads in specific product categories, its overall consumption rate remains low, with ample room for growth. By Yu Hairong.
South China Morning Post
- ‘Huge shift’: why learning Mandarin is losing its appeal in the West — Available figures suggest enthusiasm is waning after years of rapid growth, with analysts pointing to China’s economy and image problems.
- Why China is surging ahead of Trump’s America in green energy race — Trump cuts are crippling US clean energy endeavours, while Beijing is building on its title as the world’s largest investor in the sector.
- Donald Trump and Xi Jinping tipped to meet ahead of or during Apec summit in South Korea — Sources said the US leader might visit China beforehand or meet his Chinese counterpart on the sidelines of the event.
- China could counter US tech curbs by engaging Global South on AI, analysts say — Meanwhile, America risks being ‘sidelined during a critical period’ as the international norms and rules around the technology are shaped.
- Opinion: Why the global balance of power is shifting in China’s favour — Research suggests no country can win a trade war, but national power and resilience can mean the difference between decline and progress. By Albert Bakhtizin.
Nikkei Asia
- Why China’s consumption boost has fallen flat — Housing slump, debt and job market woes drag down consumer confidence, economists say.
- China says it stopped rare-earth smuggling by foreign spy agency — Smugglers used fake labels to export materials through postal system.
- China trade with North Korea jumps as neighbors rebuild economic ties — Pyongyang-Beijing passenger train to resume after pandemic hiatus to spur tourism.
Bloomberg
- China Advances $167 Billion Mega-Dam Despite Risks — The economic stimulus and boost to clean power from the dam has proven convincing enough for leaders to set aside concerns about damage to biodiversity and the impact on relations with India.
Reuters
- China EV brands Zeekr, Neta inflated car sales using insurance scheme — The firms arranged for cars to be insured before they were sold to buyers, enabling them under Chinese industry registration practices to book sales early so they could hit targets
- Trump’s renewed interest in Pakistan has India recalibrating China ties — New Delhi’s concern about Trump’s own engagement with China, which has ranged from conciliatory to confrontational, appears to have contributed to its shift in stance on Beijing.
- Nvidia CEO’s China charm offensive underscores rock star status in key market — The tycoon arrived in Beijing for an expo last week just days after meeting President Trump and announced the AI giant would once again be able to sell its H20 chips in China.
Other Publications
- Foreign Policy: The U.S. Can No Longer Stave Off Competition From China — Beijing dominates global trade. But it couldn’t turn that into a geopolitical advantage—until Trump 2.0.
- Foreign Affairs: Making America Alone Again — At a time when Washington is trying to contain China and shore up U.S. defenses in the Indo-Pacific, the administration is preparing punitive tariffs on close Asian allies.
- The Washington Post: U.S. citizen who works for Commerce Dept. ensnared in Chinese exit ban — The development comes at a fraught time in relations between the U.S. and China, amid an escalating trade war and persistent geopolitical tensions.
- AP: Chinese investors snap up stocks on hopes for an end to price wars and overcapacity — The Chinese govt and industry associations have signaled they’re getting serious about reining in cut-throat competition, known as “neijuan” in Chinese.
- The Economist: Xi Jinping is growing more elusive — Reports that he is in trouble are, nonetheless, overblown.
- The Guardian: Caught between a fossil fuel past and a green future, China’s coal miners chart an uncertain path — As the world’s largest greenhouse gas emitter shifts to cleaner energy, some families fear being left behind.
- BBC: Why China is betting on theme parks like Legoland to boost spending — During a ceremony to mark Legoland Shanghai’s launch, a local authority official called it a much-needed boost to the district’s economy as it will create jobs and support retailers.
