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
- How China and the U.S. Are Racing to De-Escalate the Trade War — Beijing is eager to save a Trump-Xi summit; Washington wants to stem losses in the stock market.
- China Adds Hanwha Ocean’s Units to Sanctions List — The move comes came amid an intensifying trade fight between Beijing and Washington.
- China’s Rare-Earth Export Controls Are Critical Concern for EU, Trade Chief Says — Beijing imposed new restrictions on exports of rare earths and permanent magnets last week.
The Financial Times
- U.S. weight-loss biotech’s $600mn fund raise signals China’s role in drug trials — Clinical studies can be finished faster and cheaper than in US and provide an earlier sign of a drug’s potential.
- Dutch seizure of chipmaker followed U.S. ultimatum over Chinese chief — Takeover of Nexperia plunges Netherlands into U.S.-China tech war.
- China slaps sanctions on Korean shipbuilder accused of helping U.S. — Measures extend trade war between Washington and Beijing to third countries.
- Bessent slams China: ‘They want to pull everybody else down with them’ — U.S. Treasury secretary tells FT that Beijing’s export controls are ‘a sign of how weak their economy is.’
- Trump and Xi still plan to meet this month, Bessent says — U.S. and Chinese officials will also hold talks this week about escalation in trade tensions.
- Why aren’t Chinese collectors paying for their art? — An overheated market has dropped sharply and buyers are leaving auction houses in the lurch.
- Western companies warn of China rare-earth supply chain chaos — Executives predict Beijing’s tighter controls will lead to production delays and higher prices.
- U.S. stocks rebound after Trump takes softer tone on China — President adopts more conciliatory approach after threatening Beijing with 100% tariffs.
- Ministers say civil servant made evidence decisions in failed China spy case — Deputy national security adviser Matt Collins named as being personally responsible for providing witness statements.
- U.S.-China déjà vu all over again — Trump’s latest piece of brinkmanship is likely to result in another climbdown. By Edward Luce.
The New York Times
- Trump’s Two Minds on China Sow a Chaotic Few Days — The president’s bellicose vow of steep new tariffs, followed quickly by a more conciliatory message, pointed to an internal tug of war over his approach.
- U.S. Starts Charging Chinese Ships to Dock at Its Ports — The measure is aimed at countering China’s dominance of commercial shipbuilding and helping to revitalize the American industry.
Caixin
- China’s Standoff With BHP Tests Global Iron Ore Pricing and Yuan’s Reach — With CMRG taking the lead, China is testing its ability to dictate iron ore terms —from pricing benchmarks to currency choice — in a shifting global market.
- Wingtech to Sue Dutch Government Over Nexperia Asset Freeze — Legal showdown looms after Dutch authorities suspend Chinese tech firm’s control of chipmaker Nexperia.
- EHang Launches Long-Range Air Taxi to Target Intercity Market — Nasdaq-listed drone maker expands beyond sightseeing with VT-35, a fixed-wing eVTOL built for longer routes and urban versatility.
- Deadly SU7 Blaze Triggers $10 Billion Rout in Xiaomi Stock — Fatal Chengdu crash marks third fire linked to Xiaomi’s electric sedan this year, renewing safety concerns amid a major recall.
- Congo’s Cobalt Controls Deepen Uncertainty for Chinese Miner — Despite the central African country lifting its export ban on the metal, a planned quota system has raised questions about the new regime’s workability.
South China Morning Post
- Yuan boost eyed as Hong Kong’s mainland China spending hits HK$5 billion — Authorities are now exploring ways to increase mainland China payments in renminbi and expand its use.
- As China widens its export control net, what’s next for rare earths? — China’s critical mineral curbs last week took some by surprise; we examine why they were adopted and what they will mean for global supply.
Nikkei Asia
- Premium resale condos in Japan to go for $6m, targeting China buyers — Property Technologies teams up with Chinese asset manager to tap overseas demand.
- Indonesia starts talks on high-speed rail project’s debt with China — Money-losing service seen as ‘ticking time bomb’ with liabilities ballooning.
- Pony.ai, WeRide get regulatory green light to list in Hong Kong — Chinese robotaxi companies roll toward secondary listings amid U.S. delisting worries.
Bloomberg
- China Plans Zinc Exports as Global Rally Opens Window for Sales — Chinese zinc producers are preparing to sell the metal overseas, as a rare trading opportunity opens up after a spike in international prices.
- Opinion: China’s AI Dragons Must Survive ‘Involution’ to Conquer the World — China’s fierce competition has turned the country’s AI industry into a cage match. Can the country’s most promising start-ups live to make it big? By Catherine Thorbecke.
Reuters
- From menacing to ‘cool’: How views on China have shifted in Vietnam — Nearly 75 percent of Vietnamese prefer the United States to China as a partner, but the share favouring China is rising faster than anywhere else in Southeast Asia, a recent poll shows.
- China is making it harder to get rare earth magnet export licenses, sources say — The lengthier reviews magnet makers face raise questions about whether China is seeking to throttle back magnet shipments.
- U.S., China roll out tit-for-tat port fees, threatening more turmoil at sea — The high seas have become a a key front in the trade war between the world’s two largest economies.
Other Publications
- The Economist: Consequences be damned. China loves its own economic model — Foreign concerns about a deluge of Chinese goods fall on deaf ears in Beijing.
- The Washington Post: China’s rare-earths power move jolted Trump but was years in the making — Beijing’s new export controls on rare earths are designed to force the U.S. to drop its own restrictions on selling advanced computer chips to China, analysts say.
- The Washington Post: China now leads the U.S. in this key part of the AI race — Free artificial intelligence technology released by Chinese tech companies appears to be more powerful and popular than that developed by American rivals.
- New Statesman: Keir Starmer’s China conundrum — Is the government prepared to make the case for its new approach?
- Brookings: Purges, personnel, and policy: a primer on China’s Fourth Plenum — From October 20 to 23, the Central Committee of the Chinese Communist Party will convene in Beijing.
