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
- Trump, Xi to Discuss Lowering China Tariffs for Fentanyl Crackdown — If Beijing takes action to cut the export of chemicals that make fentanyl, the U.S. would cut in half the 20% fentanyl-related levies on Chinese goods.
- After Demolishing U.S.-China Relationship, Trump Is Rebuilding It His Way — Summit with Chinese leader Xi Jinping marks renewed engagement in superpower rivalry.
- Trump Expects to Sign China Trade Deal at Xi Summit — Bringing manufacturing to the U.S. has been a centerpiece of the Trump administration’s negotiations with other nations.
- Automaker Production Stoppages Begin Over Semiconductor Shortage — Honda starts temporary production reductions and stoppages this week at North American factories.
- Nvidia CEO Praises Trump in MAGA-Themed Speech Ahead of Trade Talks — With access to the Chinese market in jeopardy, Jensen Huang emphasizes company’s support for administration’s agenda.
The Financial Times
- China calls for ‘extraordinary measures’ to achieve chip breakthroughs — Beijing pushes for technology self-reliance ahead of meeting between Xi Jinping and U.S. President Donald Trump.
- EU pressed to back critical minerals projects as China tightens grip — European policymakers are racing to secure raw materials after Beijing imposed export controls earlier this month.
- Slovenia plans to attract Chinese investment with ‘panda bonds’ — Finance minister says Eurozone country seeks deeper ties with Beijing as it looks to hedge against US trade wars.
The New York Times
- Ahead of Trump-Xi Meeting, China Doubles Down on Tech Ambitions — China’s leader signaled in its next five-year plan that he is committed to competing in manufacturing and technology despite tensions with Washington.
- How the 19th-Century Opium War Shapes Xi’s Trade Clash With Trump — China’s leader draws on lessons from Lin Zexu, a Qing official whose defiance of Britain led to China’s humiliating defeat but made him a national hero.
Caixin
- China Sets Up New Center in Beijing to Oversee Digital Yuan Operations — The People’s Bank of China aims to create a dual-structure system to guide domestic and international development of the e-CNY.
- Retired BoCom Vice President Probed in Anti-Corruption Crackdown — Hou Weidong, a financial IT pioneer and once the first CIO in China’s banking industry, is the latest executive to fall in a sweeping anti-corruption crackdown on the finance sector.
- Exclusive: Suning’s $28 Billion Restructuring Plan Tests China’s Approach to Corporate Failure — Most debts will be converted into trust shares, with founder Zhang Jindong retaining limited control as creditors await uncertain recoveries.
- China May Extend Financial Sector Pay Overhaul to Provincial Institutions — The campaign to rein in excessive compensation and fix pay ‘inversion’ could expand beyond central state-owned giants, affecting middle managers at more institutions, sources say.
South China Morning Post
- Why Trump’s unpredictability and inconsistency could hamper meeting with Xi — U.S. president’s erratic style of diplomacy and lack of strategy or focus may leave Beijing baffled, say analysts and former officials.
- China’s robot-powered factories turn hi-tech production lines into tourist hotspots — The advanced manufacturing sector is fast emerging as the travel industry’s latest growth driver.
Nikkei Asia
- China looks to replicate EV success with autonomous cars — Self-driving autos to reach 70% of total domestic sales in 2035 under plan.
- Chinese carmakers make headway in UK, with BYD in lead — British go for cheap EVs as market set to grow under government’s green plans.
- China’s proposed 5-year economic road map omits GDP growth outlook — Xi vows to lift Chinese per-capita development to that of a midlevel nation.
Bloomberg
- Saudi AI Chief Vows to Avoid Huawei Tech in Chips Bid — Saudi Arabia is subject to U.S. restrictions on AI chip exports, with shipments of advanced accelerators requiring a license from Washington.
- China Pushes Boundaries With Animal Testing to Win Global Biotech Race — The research, including creating monkeys with schizophrenia and autism, would face layers of ethical reviews in the U.S. and Europe.
- China’s Soybean Pivot Limits Payoff From Any New U.S. Trade Deal — Any deal is unlikely to alter the long-term trade shifts that have squeezed U.S. farmers out of China.
Reuters
- Exclusive: China buys U.S. soybean cargoes ahead of Trump-Xi meet, sources say — China has shunned soybeans from the autumn U.S. harvest this year.
Other Publications
- Associated Press: U.S. government allowed and even helped U.S. firms sell tech used for surveillance in China, AP finds — This reluctance to act reflects the tremendous wealth and power of the tech industry, which is more visible than ever under the Trump administration.
- The Economist: China is backing Russia’s war to keep America distracted, says Kaja Kallas — China’s rulers want to show it is in their people’s interests to keep America focused on Europe, according to the EU’s foreign-policy chief.
- Foreign Affairs: Structure Trumps Agency in the U.S.-China Relationship — Why the Competition is Here to Stay.
- Rest of World: China’s $143 billion push to dominate the global EV industry — After years of investing in Europe, Chinese EV and battery firms are turning to Asia, Africa, and Latin America.
- Los Angeles Times: Why is Uber deepening autonomous vehicle ties with Chinese firms? — Uber is planning to invest in the Hong Kong listings of Pony.AI and WeRide, sources said.
- The Guardian: Boris Johnson approved China’s London super-embassy proposal in 2018 — Former PM gave consent while foreign secretary for Royal Mint Court complex, a project still in limbo seven years later.
