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.
Paid subscribers automatically have this list emailed directly to their inboxes every day by 10 a.m. EST. Subscribe here.
The Wall Street Journal
- China Signals New Era of Slower Economic Growth — China set a historically low growth target of 4.5% to 5%, suggesting that the world’s second-largest economy is entering an era of slower expansion.
- China’s Traditional Businesses Try to Buy Into AI Boom — Chinese ham producers and real-estate companies are jumping on the artificial-intelligence bandwagon, pouring millions of dollars into semiconductor companies.
- JD.com Reports First Loss in Over Three Years — JD.com posted its first quarterly loss in more than three years as the food-delivery subsidy war in China continued to take a toll on the e-commerce giant.
- Opinion: Xi Jinping, Are You Not Entertained? — China is getting a good look at the precision and professionalism of the American war machine. By Matthew Hennessey.
The Financial Times
- China spy case exposes new electoral hazards of foreign policy — Allegations against former Labour advisers shake a government compelled to engage with world’s second-largest economy.
- Nvidia stops production of chips intended for Chinese market — US group moves production away from H200s to latest Vera Rubin products.
- China cuts growth target to between 4.5 and 5% — Figure revealed at annual meeting of parliament as Beijing prepares to release new five-year plan.
- Labour MP’s partner among 3 arrested in UK on suspicion of spying for China — London’s Metropolitan Police said officers had searched addresses in London, Wales and East Kilbride.
- Pair ‘took law into their own hands’ in spying for Hong Kong, court told — Two British-Chinese nationals, including former UK Border Force official, accused of undertaking surveillance.
The New York Times
- In a Riskier Era, China Bets on Technology to Resist U.S. Pressure — China announced a 7 percent increase in military spending and a five-year plan to try to reduce its military and industry’s reliance on Western technology.
- China Sets Economy’s Growth Target Below 5% for First Time in Decades — The goal, announced at a gathering of Communist Party leaders, was the lowest since 1991 and can offer clues about China’s policymaking plans.
Caixin
- ICBC Audit Executive Loses Contact as Financial Sector Probe Deepens — Chen Bing’s disappearance follows a string of investigations into veteran bankers, many with ties to Shandong and Qingdao branches.
- Huawei’s Two Auto Units Join Hands on Lidar in Sign of Deeper Alignment — The new technology can map a car’s surrounding environment at image-grade clarity, which allows driver-assistance systems to take precautionary measures.
- In Depth: China’s Solar Industry Enters Painful Reset — Chinese solar giants face mounting losses and a protracted shakeout after the government scuttled a consolidation plan designed to rescue the industry.
South China Morning Post
- Africa emerges as new arena in US-China competition over artificial intelligence — With a fast-growing digital economy and young population, the continent is becoming a critical front in the global race to shape AI’s future.
- ‘Two sessions’, two paths: China prioritises AI integration amid US tech rivalry — Beijing’s open-source push in focus ahead of annual legislative meeting and coming five-year plan, as Washington chooses different approach.
- Why China’s anti-corruption drive in academia is vital to its science and tech ambitions — Ahead of country’s annual ‘two sessions’ meetings, scientists urge more institutionalised and effective mechanisms to curb abuses of power.
Nikkei Asia
- Why Xi can’t say no to Trump visit despite the Iran strikes — Economic and political woes at home limit China’s criticism of the US.
- China’s $24bn global port push reveals supply chain security goals — State-backed lending spans 168 ports in 90 countries, report shows.
- China’s defense budget swells another 7% as military purges draw scrutiny — Premier omits ‘opposing hegemonism’ from speech ahead of expected Trump visit.
Bloomberg
- China Makes Stability Top Task in Volatile World Shaken by Trump — Officials are recognizing the need to stay the course in a turbulent time and preserving their capacity to deploy more stimulus if needed.
- China Tells Top Refiners to Halt Diesel and Gasoline Exports — China’s curbs on exports reflect a scramble across Asia to prioritize domestic needs as the crisis in the Middle East deepens.
- Xi Hosts China’s Smallest Lawmaker Meeting of Century Amid Purge — The number of delegates attending China’s National People’s Congress fell to the lowest level of this century, highlighting the churn inside the country’s top legislature.
Reuters
- China’s top chip bosses urge supportive policies to create ‘China’s ASML’ — Top Chinese semiconductor executives have called for a coordinated national effort to develop lithography systems, underlining Beijing’s push for technological self-reliance.
- US lawmakers raise concerns about Intel’s testing of tools from China-linked firm — A bipartisan group of U.S. lawmakers raised national security concerns over Intel’s testing of chipmaking tools made by ACM Research, as first reported by Reuters.
- China to build ‘birth-friendly society’, refine social security system — They will foster “positive attitudes towards marriage and childbearing,” the report said, adding that it would boost housing support for families with children.
Other Publications
- Foreign Policy: On Iran, China Cares About the Region More Than the Regime — Beijing won’t risk its broader Middle East interests to save the Islamic Republic.
- Foreign Affairs: Why China Won’t Help Iran — Beijing Cares About the Oil, Not the Regime.
