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
- European Auto Shares Rise on Easing Concerns Over Chip Supply — China said it would loosen export restrictions on chips made by Netherlands-based Nexperia, hinting at a de-escalation of a dispute triggered by U.S.-China trade tensions.
- Trump Says Xi Will Help Fight Fentanyl. Will China Follow Through? — The challenge for the U.S. is to make sure that Beijing takes action—and sustains its cooperation, particularly when it has consistently pushed back against U.S. tariffs.
- Vietnam Is Building Islands to Challenge China’s Hold on a Vital Waterway — The contested South China Sea boasts rich oil and gas reserves and could play a key role in a conflict over Taiwan.
- China Is Filling Up Its Oil Reserves Fast — The cushion could protect the country from any short-term supply disruptions related to new U.S. sanctions on Russian crude.
- Xi-Trump Deal Leads to Resumed Shipments of Crucial Auto Semiconductors — Nexperia hasn’t shipped chips for weeks, putting car production around the world at risk.
- The Trade War Couldn’t Change China’s Economy — American hopes for political reform in China faded years ago, and now hopes for economic liberalization are fading too.
- Opinion: American Farmers Want Fair Trade, Not Handouts — Relief payments and Chinese promises won’t make up for Trump’s tariff damage to agriculture. By Mark Heckman.
The Financial Times
- Indonesia’s China-backed bullet train derailed by mounting debt — Jakarta is in restructuring talks with Beijing as flagship ‘Whoosh’ railway project racks up losses.
- Inside China’s booming market for 2-minute soap operas — Low costs, short production times and juicy plot lines may help format reach global viewers.
- China signals easing of Nexperia semiconductor export ban — Dispute over Netherlands-based chipmaker has threatened to disrupt global auto supply chains.
- China’s ‘red tourism’ boom — Sites of historical importance to the ruling Communist party are attracting patriots both young and old.
- Canada launches C$6.4bn minerals push as race to counter China heats up — Ottawa uses national security legislation to accelerate production as G7 nations hunt for resources.
- China ‘made a real mistake’ by ‘firing shots’ on rare earths, says Scott Bessent — US Treasury secretary says Beijing can no longer use its critical minerals as a coercive tool.
The New York Times
- That Time Xi Jinping Joked About Espionage — Xi Jinping gave two cellphones to South Korea’s president, who asked how secure they were. “You can check if there’s a backdoor,” he said with a laugh.
- Will Trump’s Tariff Deal Tilt the Playing Field Back Toward China? — The president’s trade truce with China has lowered U.S. tariffs to a level that could pause a longer-term effort to reduce America’s dependence on Beijing.
- Can South Korea Manage the Competing Needs of the U.S. and China? — The country’s new president rolled out the red carpet for China’s leader, Xi Jinping, and President Trump this week, but the superpower rivalry is making it harder to balance relations.
- NASA Gets Moon Lander Plan B’s From SpaceX and Blue Origin — As NASA worries that China will win the next moon race, Elon Musk and his company tangled with critics.
- Nvidia Uncertain if Return to China Is Closer After Trump-Xi Meeting — Amid skyrocketing demand for artificial intelligence systems, the chip-making giant has been thrust into the economic feud between Beijing and Washington.
Caixin
- China, South Korea Renew 400 Billion Yuan Currency Swap Deal — The agreement aims to facilitate bilateral trade and ensure financial stability amid Beijing’s broader push to promote the yuan’s global use.
- Behind the Graft Probe Into China’s First Banking CIO — Hou Weidong’s case could be tied to his oversight of BOCOM’s IT operations and his relationship with the lender’s disgraced former chairman, sources say.
- Former Top China Securities Regulator Expelled for Corruption — Wang Jianjun, a former vice chairman of the CSRC, is accused of using his oversight role for personal gain, helping companies with listings and financing in exchange for ‘huge’ bribes.
- China’s Central Bank Governor Outlines Financial Risk Defense — Pan Gongsheng lays out a strategy to refine monetary policy and build a more comprehensive macroprudential management system to ensure long-term stability.
- Bank of China Hit With Nearly $14 Million Fine for Lax Management — Five major lenders penalized by the financial regulator for issues including poor oversight of loans and interbank business.
South China Morning Post
- China’s industrial robot production overtakes 2024 levels amid automation drive — Sectors cranking out cars, electronics and new-energy products are accelerating China’s advancements in robotics, with strong downstream demand.
- Xi-Trump meeting ‘a historic moment’ that will help avoid missteps, China’s top envoy says — As China prepares for Apec summit next year, Wang Yi says advances in host city Shenzhen showcase extent of China’s reforms.
- Will China-Iran ties help foster a ‘new Asia’? Envoy sees rebalance in region — Tehran envoy Abdolreza Rahmani Fazli calls on Beijing to provide a ‘balanced’ strategic partnership to help reduce tension in Asia.
- China’s updated sixth-generation fighter jets put US on notice for air supremacy — Notable changes seen in prototypes just 10 months after their first public appearance, suggesting ‘accelerated’ progress towards production.
- Opinion: China will find its own modernisation path, not on US terms — The Trump presidency has exposed America’s flaws for the world to see. The rest of the world is adjusting, and will learn for now to get on without it. By Anthony Cheung.
Nikkei Asia
- Chinese autos make inroads in Toyota-dominated Hong Kong taxi market — Mainland carmakers use the city as platform for global expansion.
- Trump’s China trade war backfires over strategic missteps — US unilateralism, short-termism and tariff strategy leave Beijing with upper hand.
- China lidar maker Hesai looks to prove Musk wrong with $200 model — Tesla chief has said technology’s costs make anyone relying on it ‘doomed’.
Bloomberg
- Hegseth Pushes Asean Unity Against Beijing in South China Sea — Pentagon chief Pete Hegseth called on Southeast Asia to strengthen cooperation in maritime surveillance including the use of unmanned technologies to counter what he said was worsening aggression by Beijing in the South China Sea.
- Vale Says China, Iron-Ore Suppliers Are Mutually Dependent — China can’t afford to abandon key iron-ore suppliers because the world’s largest buyer of the raw material is dependent on foreign deliveries of the steelmaking ingredient, according to a top Vale SA executive.
- Opinion: A Great Wealth Transfer Is Happening in China — China’s billionaire families have had public and ugly spats over inheritance, and now the middle class is arguing over money, affecting social norms such as family harmony and filial duty. By Shuli Ren.
Reuters
- South Korean president Lee asks China’s Xi for help engaging North Korea — Lee, who was elected president in a snap election in June, has promised to strengthen ties with the United States while not antagonising China and seeking to reduce tensions with the North.
- Pakistan eyes 2026 launch for first Chinese submarine in $5 billion arms deal — Under the terms of the submarine agreement, the first four diesel-electric attack submarines will be built in China, with the remaining vessels assembled in Pakistan to improve the South Asian nation’s technical capabilities.
- Big manufacturing economies struggle as US tariffs hit order books — Friday’s official PMI survey showed China’s factory activity fell for the seventh straight month, confirming suspicions that the earlier export rush to get ahead of U.S. tariffs had well and truly ended.
Other Publications
- Foreign Policy: Why China Is Winning the Trade War — Rare earths and other assets have given Beijing an edge in trade talks with Washington.
- Foreign Policy: Taiwan’s Government Is Scared of Its Own Semiconductor Giant — Taipei needs to learn how to better wield the “silicon shield.”
- The Washington Post: China says it doesn’t interfere. The war next door suggests otherwise. — Beijing’s effort to secure its interests is deepening the political crisis in Myanmar, analysts say.
- The Economist: China’s Belt and Road Initiative is booming — In a Trump-troubled world, China’s leader still sees opportunities in poor countries.
- Rest of World: “I Deliver Parcels in Beijing”: Chinese literary sensation reaches U.S. — Hu Anyan, a former courier who wrote a best-selling book about the grueling job of delivering packages, discusses life, technology, and the future of work.
- The Guardian: UK university halted human rights research after pressure from China — Leading professor at Sheffield Hallam was told to cease research on supply chains and forced labour in China after demands from authorities.
- BBC: 300 million tourists just visited China’s stunning Xinjiang region. There’s a side they didn’t see — Beijing has pumped in billions of dollars to develop infrastructure, help produce TV dramas set in its unusual landscapes, and has occasionally welcomed foreign media on carefully orchestrated tours.
