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
- What to Know About Trump’s Trade Deal With China’s Xi — Tariffs, soybean purchases and a crackdown on fentanyl were among the issues discussed by the two leaders.
- U.S.-China Truce Brings Little Peace for Businesses Caught in Superpower Standoff — Tariffs remain historically high and Beijing keeps strict regimen for critical mineral exports.
- The Long Road to a U.S.-China Trade Pact — Trump administration had for months been reluctant to reduce America’s fentanyl-based tariffs.
- The Canada-U.S. Trade War Is Pushing Carney Closer to Xi — The two leaders’ expected meeting in South Korea marks a thaw in their countries’ relations as the U.S. trade war hits them both.
- As China Raises Pressure, U.S. to Support Seoul in Building Nuclear-Powered Sub — South Korea told President Trump a stealthy submarine will reduce the burden on American forces as threats from Beijing and Pyongyang rise.
- China Factory Activity Gauge Signals Deepening Manufacturing Gloom — The official manufacturing purchasing managers index slid to 49.0 for October, from 49.8 in September.
The Financial Times
- Xi-Trump summit underlines China’s growing confidence as a U.S. peer — Beijing shows it can force Washington to compromise on trade issues.
- A tale of two embassies: UK-China dispute threatens diplomatic cooling — Whitehall officials hope resolution can be found to row between Beijing and London over key buildings.
- BYD profit falls 33% as Chinese EV maker doubles down on overseas markets — Analysts expect car group to unveil string of technological breakthroughs to combat slowdown in growth.
- Hong Kong insurance sales hit record as Chinese hunt for higher returns — Purchases surge of policies that serve as key conduit for moving money out of mainland.
- Spain drafts king into China charm offensive — King Felipe VI’s upcoming state visit highlights Madrid’s warm relations with Beijing amid U.S.-China tensions.
- China’s factory activity contracts for seventh straight month — Beijing fears weak domestic demand and aggressive competition among producers is driving deflation.
- Opinion: Batteries are crucial technology for the 21st century — Their role powering the growth of key industries means we cannot ignore economic security risks. By Fatih Birol.
- Opinion: A temporary truce in U.S.-China trade tensions — Escalation is averted for now, but underlying source of friction remains. By The Editorial Board.
The New York Times
- In China Truce on Tariffs and Rare Earths, National Security Controls Are Bargaining Chip — Some analysts say Beijing won a major victory in its trade talks: Getting the U.S. to withdraw a national security measure that previously was not under discussion.
- Xi Delivers Veiled Warning to Nations Not to Take the U.S.’s Side — At an Asia-Pacific summit, the Chinese leader urged countries to “resist unilateral bullying,” an appeal that seemed at odds with his country’s recent actions.
- Trump’s Call to Resume Nuclear Testing After Decades Revives a Cold War Debate — President Trump explained the order by saying other, unnamed nations were testing their own nuclear weapons, even though no country has tested since 2017.
- Little Word of a TikTok Deal Out of Trump-Xi Meeting — Neither President Trump nor Chinese officials indicated any new developments for the popular video app. Treasury Secretary Scott Bessent previously suggested they could “consummate” transfer of control from its Chinese owner.
Caixin
- China Takes Pension Investment Pilot Nationwide in Bid to Shore Up Retirement System — NFRA expands wealth management pilot to support aging population; stricter controls and longer-term products emphasized.
- China Overhauls Duty-Free Sector in Bid to Lift Domestic Spending — Phones, drones and pet food join duty-free lineup as government orders 25% shelf space for domestic goods.
- Top Chinese PE Chief Unreachable Amid Corruption Crackdown — Shan Junbao’s disappearance marks the latest turmoil for the private-equity arm of one of China’s top investment banks, as sweeping graft probes continue to decimate its senior leadership.
- Chinese ‘Mystical’ Financier in Cross-Border Legal Peril — Sui Guangyi faces Hong Kong asset freeze over market manipulation allegations, while mainland authorities pursue a separate fraud investigation.
South China Morning Post
- ABB’s top industrial chip and robotics expert Pang Zhibo leaves Sweden for China — The research heavyweight has joined Peking University’s recently elevated school dedicated to robots and advanced manufacturing.
Nikkei Asia
- Japan’s Sojitz launches Australian rare-earth imports to reduce China risk — Operation marks Japan’s first rare earth imports from non-China source.
- Japan, China leaders pledge ‘constructive’ ties in brief summit — Takaichi says she discussed Taiwan and export controls with Xi.
- China and U.S. pull some trade war punches to fight another day — Trump and Xi had reasons to dial down tensions but analysts see fragile detente.
- COSCO reports drop in transpacific revenue as U.S.-China storm eases — Trump-Xi truce promises relief after Chinese shipper’s Q3 revenue falls 20%.
- India shipbuilders bet global ambitions on shift away from China — State-owned Cochin Shipyard receives more overseas orders amid New Delhi’s push.
Bloomberg
- Nvidia Chief Still Hopes to Sell Blackwell Chips to China — Selling those products to China, as Huang hopes to do, would require a dramatic departure from the Trump administration’s stated approach to the tech competition.
- China, Canada Leaders Meet For the First Time Since 2017 to Reset Ties — China and Canada have gone through multiple strains in recent years that have affected bilateral flows of commerce.
Reuters
- China signals sharper pivot to consumption as imbalances worsen — Over-reliance on investment and exports to power its $19 trillion economy appears to have reached a limit.
- For Chinese toymakers, trade thaw brings stability but doubts linger — Chinese manufacturers have borne the brunt of tit-for-tat tariff escalations that have upended supply chains and forced some businesses to seek new markets to replace U.S. demand.
- Exclusive: Nexperia cuts wafer supplies to Chinese plant, ratcheting up chip disruptions — The move could exacerbate a supply squeeze that is worrying automakers worldwide.
- After trade truce, China becomes a bit more investible — For investors, there’s ostensibly opportunity even if the two trade rivals compete fiercely while cooperating a bit.
- Trump’s exit is Xi’s cue to take centre stage at APEC — This encapsulates a change in the contest for influence across the Asia-Pacific.
Other Publications
- The Information: China’s Tencent Invests in AI Agent Genspark — It values the startup at more than $1 billion and adds to Tencent’s growing AI portfolio.
- The Atlantic: The Real Worry About Trump’s Deals With China — Today he’s resolved little more than a crisis of his own making. What might he trade away later for such negligible gains?
- Foreign Policy: Why Are China’s Generals So Quiet as Xi Purges Them? — The PLA is a politically neutered army.
- The Intercept: Dark Money Drives Anti-China Crackdown Across State Legislatures — A spate of state-level legislation purports to curb Chinese influence but could spur a “second Red Scare” that ensnares ordinary businesses.
- WIRED: “I Sweated So Much I Never Needed to Pee”: Life in China’s Relentless Gig Economy — In his newly translated memoir, Hu Anyan captures the brutal labor and quiet grace of life at the edge of China’s booming ecommerce industry.
