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
- Trump Calls on Intel CEO to Resign Over China Ties — President’s demand adds to troubled chipmaker’s challenges, follows scrutiny from Sen. Tom Cotton.
- Five Things to Know About the Intel CEO’s Links to China — Lip-Bu Tan, known as ‘Mr. Chip,’ is under fire after a company he led pleaded guilty to selling technology to a China state-controlled research institution.
- Apple Got the Jump on Tariffs, Deciding Years Ago to Make iPhones in India — Chief Executive Tim Cook sought new factory locales outside China, a prescient move that along with a new $100 billion U.S. investment will shield the company — for now.
- GM Will Import EV Batteries From China’s CATL Despite Tariffs — Two-year stopgap to power Chevy’s most affordable electric car until venture with LG unit can increase U.S. production.
- This Battery Pioneer Is Worth $40 Billion, but He’s No ‘Rich Guy’ — CATL founder Robin Zeng represents a new type of tycoon flourishing in Xi Jinping’s China.
- China’s Car Sales Growth Slows as Price War Cools — China sold a total of 6.46 million new-energy vehicles in January to July.
- Chip Maker SMIC Sees Limited Impact of Trump’s Tariffs — Domestic clients are growing quickly, and a larger portion of SMIC’s production capacity is being taken up by them.
- Fortescue’s Beefed-Up $2 Billion Loan Reflects China Bet on Energy Goals — Fortescue’s investment in decarbonizing its assets seems to appeal to Chinese lenders.
- K-Pop Looks to China to Supercharge Growth After Strong Earnings — Hybe, the agency behind boy band BTS, saw its second-quarter revenue rise 10% from year earlier to about $510 million, a record for the period.
- Opinion: How to Counter China in America’s Backyard — A Louisiana senator proposes two tools to bolster our economic security. By Bill Cassidy.
The Financial Times
- Donald Trump calls on Intel chief to resign — U.S. president alleges that semiconductor industry veteran Lip-Bu Tan is ‘highly conflicted.’
- China’s Cosco seeks at least 20% as Beijing reshapes $23bn Panama ports deal — State-owned shipping group has leverage over BlackRock and MSC as Beijing tries to rewrite terms of sale.
- China’s star tech companies rush to list in Hong Kong — The territory has made a series of reforms that have helped fuel an IPO boom.
The New York Times
- Intel’s Chief Holds Firm After Trump Demands His Resignation — Lip-Bu Tan, Intel’s top executive, said he was committed to the company after Mr. Trump called for him to step down over reported Chinese investments.
- Opinion: Trump Is Letting TikTok (and China) Win — Trump has ignored the law, and Congress has done little in response. By The Editorial Board.
Caixin
- Widespread Abuse Found in China’s Consumer Goods Subsidies — Businesses and individuals have discovered ways to scam the system, with millions of yuan improperly claimed, audits uncover.
- State Street Bows Out From Hong Kong’s Flagship ETF — U.S. financial giant’s retreat comes amid ongoing geopolitical tensions between Washington and Beijing.
- Chinese Construction Firms Need to Find New Global Markets, Industry Players Say — International contractors face a double whammy of a slowdown in both their home market and rising trade tensions overseas.
South China Morning Post
- Could the U.S. and Europe go rare earth-free to escape China’s magnetic pull? — Researchers have been seeking alternative ways to produce the magnets needed to make everything from mobile phones to military equipment.
- China plots pathway to tech supremacy through brain-computer interfaces — Beijing unveils multi-year innovation road map that puts neuroscience at the centre of U.S.-China rivalry.
- China’s steelmakers cool competitive fires as price war cuts profit margins — Facing chronic oversupply and government demands to end a cost-cutting race to the bottom, China’s steel industry looks for solutions.
Nikkei Asia
- SMIC says more Chinese chip players ‘perfectly’ replacing foreign rivals — Co-CEO says domestic demand is growing and U.S. tariff impact will be minimal.
- China’s humanoid robot exhibitions stir investment frenzy — World Robot Conference opens in Beijing with devices that dance, hug and shoot hoops.
- Pop Mart opens ‘landmark’ Bangkok shop, boosting reach — Chinese toymaker hopes to draw Thais, tourists to key Southeast Asia market.
Bloomberg
- Intel CEO Dogged by Decades of China Chip Bets, Board Work — Here’s what we know about Lip-Bu Tan’s business dealings in China.
- The CIA Spy Who Thwarted Taiwan’s Nuclear Plans — Gray Chang was branded a traitor for exposing Taipei’s covert weapons program in the 1980s. Many now view him as a hero.
- Trump’s Bullying of India Is Straight From Xi’s Playbook — By using tariffs as a foreign policy tool, the U.S. president is legitimizing China’s own acts of economic coercion.
Reuters
- Simulated Chinese blockade of Taiwan reveals Singapore as lifeline — The risks are felt acutely in Singapore, a financial and shipping hub that hosts U.S. Navy ships and surveillance aircraft yet maintains strong cultural, diplomatic and economic ties with China.
- Exclusive: Thai gallery removes China-focused artworks after ‘pressure’ from Beijing — Rights groups say China carries out a sophisticated campaign of harassment against critics overseas that has often extended into the art world.
Other Publications
- The Economist: Shanxi province is struggling to diversify away from coal — Why the transition is going so slowly.
