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
- Xi Declares Success in Chinese Region at Center of Rights-Abuse Claims — The leader’s visit to Xinjiang followed a similar trip to Tibet and reflected his focus on assimilating ethnic minorities into his vision of a unified Chinese nation.
- China’s BYD Logged Sales Surge in Europe — BYD’s sales in Europe tripled in August, a sign that customers are embracing its lineup of electric and hybrid vehicles as the Chinese auto giant continues to expand in the continent.
- China Urges Companies to Not Take Price-Cutting Playbook to U.S. — Chinese regulators have called on companies in recent months to rein in excessive competition and extreme discounting practices.
- Top Chinese Car Exporter Chery Makes Solid Hong Kong Debut — Chery Automobile’s shares rose sharply in their Hong Kong debut following the largest listing by a car company in the financial hub this year.
- China’s Xi Takes Veiled Swipe at Trump, Announces Climate Plan — The Chinese leader called the transition to low-carbon energy “the trend of our time.”
- Behind NASA’s Next Moon Mission and the Race to Beat China There — Long-delayed Artemis II mission to ferry four astronauts on a trip around the moon next year.
The Financial Times
- Trump’s port fees will weaken China’s shipbuilding dominance, says shipping boss — Fleet owners are already rethinking orders from Chinese yards, says head of Japanese Shipowners’ Association.
- China’s Xi sets out conservative climate goal for next decade — President contradicts Donald Trump by calling the green energy transition ‘the trend of our time’.
The New York Times
- At U.N. Summit, China Promises to Reduce Greenhouse Gas Emissions — President Xi Jinping told a U.N. climate summit that China will reduce emissions across its economy, expand renewables sixfold and make electric cars “mainstream.”
- Opinion: China’s Pivot From Green Tech Could Be Bad News for the Climate — China fueled climate optimism. But now the story is changing. By David Wallace-Wells.
Caixin
- China to More Than Double Daily Quota for Northbound Swap Connect — The move is part of a broader effort to facilitate foreign investment and risk management in the country’s onshore bond market.
- Chinese Bankers See AI as a Helper, Not the Boss, in Key Operations — Lenders are using the technology to improve risk control and customer acquisition, but its unreliability means it remains in a supporting role for critical decisions, executives say.
- Citic Securities Prepares Leadership Handoff as Brokerage Giant Navigates Choppy Waters — Zhang Youjun heads to Hong Kong to manage Citic’s offshore arm, while Zou Yingguang is positioned to take the helm amid rising competition and strategic headwinds.
- China’s State-Owned Auto Giants Turn to Huawei in Smart Car Race — Legacy manufacturers including Dongfeng, GAC and SAIC are embracing partnerships with the tech giant, seeking its technology and market know-how to survive intense competition.
- How a Chinese Police Chief Cashed In on a Pre-IPO Chip Venture — The conviction of Wang Qiaoquan reveals a playbook for turning public power into private wealth, showing how he secured a nearly 50% discount on shares in a semiconductor firm.
South China Morning Post
- Did Trump’s Russia rant at UN give China reason for optimism? — While Moscow was attacked over Ukraine war, observers point to softer rhetoric on Beijing and what the US leader didn’t say in his speech.
- Xi Jinping on visit to Xinjiang calls for ‘every effort’ to achieve social stability — Chinese leader’s remarks promoting cultural integration come as autonomous region marks 70th anniversary and amid Beijing’s push for unity.
- Chinese solar panels rewire Africa for the future at record pace as costs fall — Some countries have seen panel imports more than quadruple year-on-year, study shows.
- China’s banks face their ‘Japanification moment’, S&P report warns — For China’s central bank, ‘safeguarding growth and social stability will take priority over bank profits’, the report says.
- Opinion: What China seeks to achieve with the Global Governance Initiative — The initiative does not seek to create an alternative system. Rather, it aims to strengthen the mechanisms of the current global order. By Cui Jianchun.
Nikkei Asia
- Chinese chemical group Hengli grows quickly into major shipbuilder — Ship unit uses backdoor listing to go public under struggling group subsidiary.
- China seeks to end reliance on US AI chips as Alibaba, Huawei race ahead — Companies pursue self-sufficiency, but restrictions on advanced equipment remain.
- Rare-earth prices soar beyond China restrictions as US hoards magnet metals — Used in EVs, neodymium-praseodymium hits highest level since 2023.
- Japan’s MUFG Bank teams with Tencent to revamp China network — MUFG will update and migrate core system to Tencent’s cloud platform to improve services.
- Opinion: China’s fiscal foundations are weakening as local governments struggle — IMF estimates hidden local debt is equivalent to around half the nation’s GDP. By David Tingxuan Zhang.
Bloomberg
- China ‘National Team’ Fund Makes $50 Billion From Stock Aid — A unit of China’s sovereign wealth fund has reaped paper gains of more than $50 billion buying local exchange-traded funds, highlighting the scale of government support for the country’s stock market, according to Bloomberg Intelligence.
- China Government Bond Sales to Plunge After $1.6 Trillion Blitz — Chinese government bond issuance is set to plunge by year-end, offering relief to a market also pressured by a rotation into equities.
- Poland Becomes Top Importer of Taiwanese Drones, Skirting China — Poland has become the biggest buyer of drones from Taiwan as the Eastern European country, on Russia’s doorstep, bolsters its defense capabilities and seeks to reduce reliance on Chinese parts.
- Trump Weakening US Clout in China’s Backyard, Report Warns — Tariffs, aid cuts and visa limits under Donald Trump’s foreign policy are eroding US influence in Southeast Asia, where China is increasingly seen as dominant, the Sydney-based Lowy Institute said in a report.
- Opinion: China’s Chery Is Right to Face the Music on Russia — Exiting its biggest overseas market will be painful in the short term, but ultimately worthwhile. By Juliana Liu.
Reuters
- Chinese drone experts worked with sanctioned Russian arms maker — Reuters is the first to report specific details of the extensive involvement of Chinese experts in tests and technological work on military-use drones inside Russia.
- G7 weighs price floors for rare earths to counter China’s dominance, sources say — China surprised buyers in April when it introduced export controls on the materials and on related magnets, in retaliation for tariffs imposed by the United States.
- Bessent says aircraft engines, chemicals could be leverage in US-China talks — He said he and other administration officials would be meeting with their Chinese counterparts in October and November before the expiration of a pause in higher tariff rates.
Other Publications
- CFR: How America Can Win in Space to Protect Taiwan and Beyond — To protect its strategic interests in Taiwan in the event of a conflict with China, the United States should consider investing more time, energy, and resources towards an often-overlooked arena of defense competition: space superiority.
- Foreign Affairs: The Proliferation Problem Is Back — The nuclear landscape is changing in ways that are bringing proliferation back to the fore. An increasingly powerful China is scaling up its nuclear arsenal.
- The Washington Post: China wants a ‘super-embassy’ in London — sparking anger and spying fears — China’s proposal for a large embassy by the Tower of London, near critical communications cables, has led to espionage concerns. China describes the claims as “slander.”
- The Economist: Why Xi Jinping now accepts Kim Jong Un at the grown-ups’ table — China is grudgingly mending ties with North Korea.
- The Information: U.S. Loses Appeal for Chinese AI Researchers — The U.S. is losing its appeal for Chinese AI researchers as China’s industry improves and U.S. policies prompt Chinese talent to consider leaving.
