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
- Meituan’s Profit Tumbles as Food-Delivery Price War Takes Toll — The Chinese food-delivery giant’s profit cratered in Q2 as intense competition snapped a long run of growth, underlining concerns about its ability to defend market share.
- Chinese Fast-Food Chain’s Profit Surges on Appetite for Ice Cream, Tea Drinks — Mixue posted a 43% rise in profit for the first half of the year, fueled by consumer appetite for its cheap ice cream and tea drinks.
- Panama Canal Plans Sale of New Ports to Bring in Competition Ahead of BlackRock Deal — The canal’s administrator wants more players running ports to dilute the influence of BlackRock partner Mediterranean Shipping Co. and, potentially, China’s Cosco.
The Financial Times
- China seeks to triple output of AI chips in race with the US — Fabrication plants serving Huawei push to increase production as US cuts off access to Nvidia’s top processors.
- Pentagon unit steps up tech ties with allies to counter China — US preparing to place officials in countries including Taiwan and Japan.
- The Chinese gadget maker taking on Tesla and Apple — Formerly dismissed as a ‘Lego’ assembler, Xiaomi is building its reputation as a high-tech manufacturer.
- AstraZeneca bounces back from scandal in China — Pharma group has installed new leadership in the country and pledged $2.5bn for a Beijing R&D centre.
- Chinese AI chipmaker Cambricon posts record profit as Beijing pushes pivot from Nvidia — Revenues rise 44-fold on surging demand for homegrown semiconductors.
The New York Times
- Trump Says He Welcomes Chinese Students, as His Administration Blocks Them — The president has praised Chinese students several times. But his policies are making it more difficult for students from China to come to the United States.
- Lafufus, Fake Labubu Dolls, Raise Safety Alarms and Spawn Raids — Fakes have alarmed buyers, consumer protection agencies and customs officials, as well as Pop Mart, the Chinese company that has been making Labubus since 2019.
- China Finds Buyers for Surplus Solar: Africa’s Energy-Hungry Countries — Overproduction in China has led to slashed prices, and buyers on the continent are taking advantage to sharply increase investments in clean energy.
Caixin
- Shanghai Mirrors Beijing in Easing Housing Purchase Rules for Outskirts — Relaxing curbs aims to revive weak housing demand and cut glut of unsold homes in city.
- BYD Exports Thai-Made EVs to Europe Amid Local Glut — The move aims to ease pressure on the Chinese automaker’s new factory amid overcapacity in the Southeast Asian nation.
- China Pension Audits Uncover Widespread Payments to Dead People — In Shandong, an audit report disclosed that between 2022 and 2024, social security offices in two cities and 48 counties improperly paid 2.41 million yuan to 505 deceased individuals.
- Opinion: Beijing’s Plan to Unlock AI’s Economic Potential — Yet a survey from MIT found that fewer than 5% of current projects are delivering significant improvements in productivity and profit margins. By Cheng Shi.
- Opinion: Securing China’s Future — The Blueprint for Social Security Reform — Amid rapid demographic change, the improvement and reform of China’s social security system may be one of the key areas of focus for the 15th Five-Year Plan. By Zhao Wei.
South China Morning Post
- Victory Day parade puts progress and challenges on show — China’s steps towards ‘building a world-class military by the middle of the century’ will soon be more visible.
- China elevates infrastructure push in Tibet, aiming to raise investments on world’s roof — Fresh investment and promotion plans follow President Xi’s visit to the Tibetan Plateau, where environmental and transport challenges remain.
- China races to embed AI use across major industries with ambitious 2030 target — Beijing’s strategy seeks to integrate AI in manufacturing, healthcare and many other sectors to fuel long-term growth.
- New US envoy Julie Eadeh to arrive in Hong Kong this month — Consul general appointment might ruffle feathers as Eadeh held meeting with protesters in 2019, but sources say Beijing has approved.
- Opinion: China may not be waging war in Ukraine. But it still stands to win — With the US unable to broker peace in Ukraine and Europe lacking agency, China is quietly emerging as the superpower with all the cards. By Terry Su.
Nikkei Asia
- People’s Daily online business dips into red as ad revenue shrinks — Chinese Communist Party mouthpiece hit by nation’s economic slowdown.
- China crackdown boosts lithium prices, but how long can the rally last? — Focus turns to authorities’ next moves as miners hope for sustainable recovery.
- Yamaha Motor, Kubota, others aim to shake Chinese rivals’ Africa footholds — Undercut on price, Japanese brands emphasize after-sales service and longevity.
Bloomberg
- Xi Unleashes China’s Biggest Purge of Military Leaders Since Mao — He’s ousted almost a fifth of the generals whom he personally appointed.
- Nvidia Investors Grapple With China Risks Ahead of Earnings — The company’s earnings report will be closely watched for a read into spending on artificial intelligence technology and for clarity on its China revenues.
- China Pours Exports Into Africa Faster Than Anywhere Else — Africa has become a new hotspot for Chinese exports as Donald Trump’s tariffs redraw trade for the world’s biggest manufacturing nation.
- China’s Crackdown on Price Wars Eases Industrial Profit Drop — China’s industrial companies saw their profits fall at a slower pace, in a sign that efforts to curb overcapacity are starting to ease the strain from competition among producers.
Reuters
- Chinese coast guard ship now under repair at Hainan, satellite images show — Chinese officials have never commented on the collision, which the Philippines said occurred on August 11 as its coast guard vessels were carrying out a mission to deliver supplies to Filipino fishermen operating near the Scarborough shoal.
- Chinese savers are a booming stock market’s next catalyst — Chinese households reluctant to spend or invest in a struggling economy sit on a record $22.33 trillion worth of savings, worth 60% more than the total value of the mainland stock markets.
- West frets over China’s interest in Vietnam tungsten mine, sources say — Heightened U.S.-Sino trade tensions have seen China, by far the world’s dominant supplier of tungsten, restrict exports of the hard metal as well as other critical minerals in retaliation for U.S. tariff policies.
- China seeks a silver lining as it tells companies to target older consumers — Beijing flagged “a new age” for the elderly in a 2021 policy guideline, calling for “the vigorous cultivation” of a silver economy, but this year authorities have gone into overdrive.
Other Publications
- The Economist: A Chinese lab starts to tackle a giant mystery in particle physics — The JUNO detector will hunt for the universe’s most elusive particles.
- The Information: Neil Shen’s HongShan Is Slow to Deploy Its $9 Billion Capital, Looks for Deals Outside China — When venture capital giant Sequoia decided to carve off Sequoia China two years ago in response to growing tensions between the U.S. and China, the newly independent China firm was expected to continue pouring its huge funds into Chinese startups.
- The Washington Post: Opinion: Myanmar’s election is a sham orchestrated by China — Flattery and the desire for a minerals deal already led Trump to relax sanctions on the junta. By The Editorial Board.
