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
- In Rare Visit to China, U.S. Lawmakers Push for More Military Dialogue — A bipartisan House delegation met with China’s No. 2 leader and its defense minister as the two sides try to keep diplomatic momentum going ahead of an expected Trump-Xi meeting.
- Eurozone Faces Inflation, Growth Threat From China’s Rare Earths Dominance, ECB Warns — A report said the eurozone would suffer economic harm if supplies were to be interrupted as a result of trade or other disputes.
The Financial Times
- US lawmakers urge greater military dialogue on rare China visit — First bipartisan House delegation since 2019 comes ahead of Trump-Xi meeting in South Korea next month.
- Super Typhoon Ragasa heads for Hong Kong and China’s industrial heartland — Authorities call for ‘wartime’ footing and prepare for one of the world’s biggest storms this year.
The New York Times
- In Rare China Visit, U.S. Lawmakers Call Lack of Military Talks ‘Dangerous’ — The bipartisan delegation said more conversations were necessary to avoid accidental “miscalculations and misunderstandings” that could lead to conflict.
- China Braces for the Worst as Typhoon Ragasa Barrels Toward Its Coast — Hong Kong canceled hundreds of flights, Macau shuttered casinos and the city of Shenzhen plans to evacuate 400,000 people.
- How to Silence Dissent, Bit by Bit Until Fear Takes Over — In China, journalism and public debate were opening up, and then a leader took over and used a series of steps to dictate speech.
- Opinion: The New Buzzword That’s Scaring China — China’s problem with competition is that it’s too brutal. By Bob Davis.
Caixin
- China Unveils Two-Year Plan to Curb Steel Overcapacity — New guidelines for 2025–2026 aim to tackle the industry’s supply-demand imbalance by continuing output controls and implementing a tiered management system for producers.
- China’s GAC to Build $19M Auto Assembly Plant in Cambodia — The project adds to GAC’s growing Southeast Asia footprint as Chinese automakers expand abroad to offset slowing sales at home.
- Senior Qinghai Official Prosecuted for Bribery in Poverty Alleviation Scandal — Ma Fengsheng, a former head of the province’s poverty alleviation bureau, is accused of taking bribes, marking the latest development in an anti-graft probe into the sector.
- China Fortifies Its Financial Defenses — China is taking a series of strategic steps to mitigate the impact of geopolitical risks on its financial system while gradually advancing the internationalization of the yuan.
- Citic Bank’s International Department Chief Becomes Unreachable — China Citic Bank Corp. Ltd.’s international business department chief has become unreachable amid the country’s ongoing anti-graft campaign in the state-owned financial sector.
South China Morning Post
- China’s record-breaking Dashixia dam, built with the help of AI, starts storing water — It’s the world’s tallest concrete-faced rockfill dam and was completed using full-scale intelligent technology and construction.
- Why China’s 5-year plan matters – and how it could steer economy in turbulent times — Facing a volatile world, Beijing has renewed its focus on economic and industrial planning.
- China urged to create unique foreign relations knowledge system, reject Western concepts — Applying Western paradigms to Chinese materials leads to misinterpretations of China’s global role, government adviser tells People’s Daily.
- Top Chinese scientist developing chips for weapon systems detained by graft-buster — Yu Faxin – whose Shanghai-listed firm Great Microwave Technology supplies chips for military equipment – said to be in detention in Hubei.
- Opinion: Why China said ‘no’ to stripped-down Nvidia chips — To continue buying the chips would be seen as accepting US-dictated tech inferiority. China would rather push for tech independence. By Jinghan (Michael) Zeng.
Nikkei Asia
- Bad consumer loans emerge as new headache for Chinese banks — Declining personal income, repayment capabilities hit lenders’ asset quality.
- Growing REITs offer China way to deal with excess real estate inventory — Postbubble Japan shows impact of discipline imposed by investor scrutiny.
- TikTok US operations to move to joint venture backed by Oracle, Silver Lake — Algorithm to be retrained, operated and monitored by US entity, White House says.
- China battles Labubu fakes in role reversal on IP protection — Beijing, long accused of lax attitude on counterfeits, sees soft power grow.
- New Philippines shipyard poised to benefit from US-China maritime rivalry — HD Hyundai sees growth opportunity as Manila, Washington both seek to revive industry.
Bloomberg
- China Floods the World With Cheap Exports After Trump’s Tariffs — Shipments have soared outside the US this year, but countries dealing with the glut appear reluctant to take on another trade war — for now.
- China Courts Foreign Gold Reserves to Boost Global Clout — The People’s Bank of China is using the Shanghai Gold Exchange to court central banks in friendly countries to buy bullion and store it within the country’s borders.
- China Rare Earths Issue Remains Unresolved, US Lawmaker Says — China dominates the global supply and processing of the minerals, which are vital for everything from electric vehicles to advanced weaponry.
Reuters
- Some Chinese firms pretend to comply with mandated social insurance payments as business struggles — China’s top court recently reinforced that workarounds between employers and workers to evade social insurance contributions are invalid.
- US lawmakers talk up big Boeing deal during China visit — U.S. Ambassador to China David Purdue said he thought the negotiations had entered their last days or weeks, adding that the deal is “very important to the president.”
- China buys Argentine soybeans after tax drop, leaving US farmers sidelined — The deals are a fresh blow for U.S. farmers, who are missing out on billions of dollars of soybean sales to China halfway through their prime marketing season.
- Innovent’s weight-loss drug highlights China challenge for Novo, Lilly — Drugmakers face the prospect of more local competition in China, where Novo’s patent on Wegovy’s active ingredient semaglutide expires in 2026.
- China enlists solar panels in war to halt desert sands — A 1GW facility in the northwestern region of Ningxia is part of a network across northern and western China that use the bulk and shade of solar panels to stop and reverse the spread of deserts.
Other Publications
- Foreign Policy: Iraqi Kurdistan’s EV Revolution — Electric cars were a punchline here just a few years ago. Thanks to Chinese companies, that’s not the case anymore.
- POLITICO: White House ‘100 percent’ sure TikTok deal with China will close — Trump to give 120 more days to finalize terms, as his administration details the plan for an American-owned app.
- The Economist: A restaurant scandal sticks in China’s throat — It’s hard for city diners to find the good life at a good price.
- CSIS: Hearts, Minds, and Uniforms: New Data Reveals China and Russia’s Growing Military Diplomacy Footprint in Latin America and the Caribbean — Evidence of military cooperation between China and Russia around the world has contributed to a growing perception of an emerging “axis of autocracies” rising to challenge the collective West.
