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
- BMW Shares Slump as China Woes Prompt Guidance Cut — Fellow German manufacturers Mercedes-Benz, Volkswagen and Porsche also fell more than 2%.
- Chinese Gold Miners Extend Rally as Gold Soars Past $4,000 — Chinese gold-mining stocks continued to surge as spot gold passed a new milestone, buoyed by hedging demand amid uncertainty about U.S. policy and global political turmoil.
- How China Threatens to Force Taiwan Into a Total Blackout — A Chinese blockade would quickly deplete resources on an island that depends on imported fuel.
- America’s Soybean Farmers Are Panicking Over the Loss of Chinese Buyers — China hasn’t booked any U.S. soybean purchases in months. Farmers warn of a “bloodbath.”
- Mercedes-Benz Vehicle Sales Hit by U.S. Tariffs, Difficult Chinese Market — Car and van sales fell in the third quarter, although they rose in the company’s home market of Germany, as tariff policies affected sales in the U.S. and China.
- Opinion: The Oct. 7 Warning for the U.S. on China — Israel got complacent, thinking war would never come. Are we doing the same with Taiwan? By Mike Gallagher.
The Financial Times
- Global investors stage cautious return to Chinese start-ups — Venture capital funds close to raising $1.1bn this year in first signs of thaw for sector hit by geopolitical tensions.
- China is on the move for Golden Week. But are tourists spending? — From Shanghai Disneyland to gambling hub Macau, holiday travellers are wary about state of economy.
- Spying case collapsed after UK refused to label China a ‘threat’, prosecutors say — Crown Prosecution Service had charged two Britons with espionage offences.
- BMW cuts profit guidance after China sales fall short of expectations — German carmaker cites higher than expected tariff costs and support for dealerships in China as factors in decision.
The New York Times
- Cheer Up, or Else: China Cracks Down on the Haters and Cynics — As China struggles with economic discontent, internet censors are silencing those who voice doubts about work, marriage, or simply sigh too loudly online.
- Hunter Biden Pursued a Deal to Sell Land Around the U.S. Embassy in Romania — The proposed transaction, stemming from relationships that started while his father was vice president and involving a Chinese partner, underscores the extent of Mr. Biden’s questionable business dealings abroad.
Caixin
- The Shady Deals Behind a Veteran Banker’s Suspended Death Sentence — Wang Weihua, the ex-chairman of investment platform Zheshang Industrial, conspired with two former top executives at Zheshang Bank to accept nearly 340 million yuan in bribes, court says.
- In Depth: The Unfinished Transformation of China’s LGFVs — Facing a 2027 deadline, some local government financing vehicles are just dressing up and still struggling to secure fresh funding.
- China’s Foreign Reserves Edge Higher in September as Global Bonds Rally — Gold holdings rise for 11th straight month amid record bullion prices.
- Dongfeng Spins Off EV Brand Voyah for Independent Hong Kong Listing — Move seeks to unlock value and refocus on new-energy vehicles as parent’s sales slump.
- U.S. Details Steep Port Fees on China-Linked Vessels Starting Oct. 14 — New levies on Chinese-built or -operated ships could add millions in costs per voyage.
South China Morning Post
- China’s fourth plenum poised for highest Central Committee turnover in 8 years — Reshuffle expected this month at top Communist Party body as more senior officials are sidelined by corruption investigations.
- Eyeing China, EU unveils sweeping measures to shield its struggling steel industry — If approved, plan tackling overcapacity would slash tariff-free quotas by nearly half and double duties on excess shipments to 50 per cent.
- China is planning a 5-year honeymoon for its private firms. Will they feel the love? — Entrepreneurs in traditional sectors hope China’s next plan will help relieve pressures from low demand, price wars and regulatory scrutiny.
Nikkei Asia
- Argentina in superpower duel as China buys soybeans, US dangles billions — Despite friendly Trump ties, Milei likely to find Beijing ‘too big to ignore’.
- Japan’s Takaichi poised for early diplomatic test with Trump, Xi summit chances — PM hopeful has little foreign relations experience but set for busy schedule.
- In silicon wafers, China’s emerging local stars rattle global giants — Japan has long led in key chip material, but Chinese rivals like Eswin catch up.
Bloomberg
- ASML Shares Fall After US House Panel Slams Its China Sales — Lawmakers accused the Dutch chip equipment maker of boosting China’s semiconductor industry, raising the specter of further export controls on the company’s lithography machines.
- China’s Car Dealers Face Existential Threat From EV Transition — China’s car dealerships are in need of financial assistance as a long-running price war and rapid increase in production capacity for electric vehicles leave them struggling to survive.
- Opinion: North America’s China Problem Is Bigger Than It Looks — Mexico is emerging as one of the biggest fronts in the US-China economic rivalry, with the country being the US’s top trading partner and a strategic ally under the USMCA. By Juan Pablo Spinetto.
Reuters
- US lawmakers call for broader bans on chipmaking tool sales to China — Inconsistencies in rules have led to non-U.S. chip equipment manufacturers selling to some Chinese firms that U.S. companies could not.
- China says Taiwan president is ‘prostituting’ himself, after interview lauding Trump — China’s Taiwan Affairs Office said Lai was “spouting nonsense”, showing his true nature as a manufacturer of crises and destroyer of peace.
- OpenAI bans suspected China-linked accounts for seeking surveillance proposals — OpenAI said some individuals had asked its chatbot to outline social media “listening” tools and other monitoring concepts, violating the startup’s national security policy.
Other Publications
- Foreign Policy: Don’t Let Chinese Fears of a U.S. Decapitation Strike Lead to Nuclear War — Well-founded or not, Beijing’s fear of a U.S. decapitation strike could prove dangerous. Washington should help mitigate it.
- Rest of World: The Chinese migrant workers powering the deadly EV nickel boom — 30,000 Chinese workers travel thousands of miles to remote islands in Indonesia to process nickel — and put their lives at risk on the frontier of the green energy transition.
- MIT Technology Review: AI toys are all the rage in China—and now they’re appearing on shelves in the US too — Competition is heating up, with Mattel and OpenAI expected to launch a product for kids this year.
