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
- U.S. Has a Big Ask for China: Buy Less Oil from Russia, More From America — Treasury Secretary Scott Bessent weighs pushing the tricky trade-off along with other economic goals prior to the Trump-Xi summit.
- Opinion: China Admits It Has an Economic Problem — A new GDP target concedes Beijing can’t pretend much longer. By The Editorial Board.
The Financial Times
- US investors push for special funds to avoid Chinese tech — Institutional clients increasingly want so-called parallel funds that exclude certain assets.
- China sets cautious climate goals in five-year plan as coal remains core — ‘Underwhelming’ target leaves room for increase in energy and industry emissions in years to 2030, experts say.
The New York Times
- The Good Times Are Over in China’s Liquor Capital — Once celebrated for its fiery spirits, the town of Maotai has reeled from a bad Chinese economy, changing tastes and a crackdown on boozy official banquets.
Caixin
- China Gold’s $2 Billion Congo Mine Dispute Hits Setback in Hong Kong Court — Judge blocks state-owned miner’s effort to void arbitration awards against U.S. trader Gerald Group despite bribery allegations involving a former executive.
- China Says 82% of Local Financing Vehicles Phased Out in Debt Cleanup — National campaign to tackle hidden local government debt cuts operational liabilities sharply, but officials warn the next phase will be harder.
- Beijing Pivots to ‘Destocking’ as Housing Glut Weighs on Recovery — The latest government work report omits past vows to arrest market declines, focusing instead on structural adjustments and absorbing bloated inventories.
- Bilibili Posts First Annual Profit as Advertising Boom Lifts Results — Strong ad growth and tighter cost controls push the Chinese video platform into the black for the first time, signaling a turnaround in its business model.
- China Business Faces New Hurdles as EU Pushes Clean-Tech Localization — Draft legislation would require high local production levels for EVs and batteries to qualify for subsidies and public procurement.
South China Morning Post
- China’s last CMC general urges more ‘political rectification’ in PLA centenary countdown — Combat readiness and loyalty to Xi Jinping also highlighted in Central Military Commission vice-chairman’s remarks at ‘two sessions’.
- Why China wants stronger policing of disputed waters under new 5-year plan — Focus on maritime law enforcement believed to highlight growing challenges facing Beijing, particularly in the South China Sea.
- Middle powers Canada, South Korea set Arctic course between China-Russia and US — Seoul’s security agreement with Ottawa is also a ‘hedge’ against a transactional Washington, an analyst says.
Nikkei Asia
- Chinese economic officials flag Iran war risks, vow ‘balanced’ trade — Finance minister says policies can cope with ‘profound’ changes at home and abroad.
- Steep price hikes hit China’s smartphone market as memory crunch deepens — Apple’s new budget iPhone adds to pressure on Chinese brands.
- Rare earth yttrium hits new high, up 140-fold in 1 year on China curbs — Rise accelerated by added restrictions on sales to Japan companies since January.
Bloomberg
- China’s AI Nightmare Is an Out-of-Control Welfare State — As artificial intelligence threatens jobs and deflation strains growth, Xi Jinping may finally be forced to expand the nation’s social safety net.
- China Mysteriously Cuts PLA Flights Into Sensitive Taiwan Areas — It began one day before the US and Israel struck Iran and comes weeks before President Donald Trump is set to meet Chinese leader Xi Jinping in Beijing.
- China’s First Gaming Billionaire Aims to Create ‘Smarter-Than-Man’ AI — Reclusive Shanda founder Chen Tianqiao is betting his personal fortune on it.
Reuters
- China in talks with Iran to allow safe oil and gas passage through Hormuz, sources say — China is in talks with Iran to allow crude oil and Qatari liquefied natural gas vessels safe passage through the Strait of Hormuz as the U.S.-Israeli war on Tehran intensifies, three diplomatic sources told Reuters.
Other Publications
- Foreign Affairs: Will China Overplay Its Hand? — How Beijing’s Confidence Could Shake Up the Trump-Xi Summit.
- The Economist: China’s first railway project in the EU is open at last — Once a show of largesse, it now reflects China’s struggles on the continent.
- The Information: Demand from Alibaba and Other Giants Boosts China’s Homegrown Memory Suppliers — Chinese tech heavyweights including Alibaba Group, ByteDance and Tencent Holdings are turning to domestic chipmakers to ease the pain from a deepening global shortage of memory chips.
