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
- The World’s Caviar King Wants to Cash in on Hong Kong’s Listing Frenzy — Xunlong Sci-tech has been the world’s largest caviar producer for the last 11 years.
- China Slaps Restrictions on Dozens of U.S. Companies — Move comes after the U.S. expanded its military-linked company list to include Alibaba and Baidu.
- ASML Shares Slip on Report of U.S. Concern That China Has Its Tech — The company says it hasn’t shipped an EUV machine to China, nor has it sent any component, module or equipment designed to be used in one.
- How China’s Navy Is Tightening the Noose on Taiwan — Beijing has built a near-constant naval presence around the island since the start of the decade, as it has stepped up efforts to bring Taipei under its control.
- Why the Memory Crunch Is Almost Impossible to Solve — Prices soar because capacity isn’t growing quickly, while China option is limited by national-security concerns.
- Chinese Export Flood Tests Europe’s Stomach for Trade War With Beijing — European Union leaders are looking for new powers that would allow them to hit back at China as their industries get hammered.
The Financial Times
- China’s CATL to offer battery swapping for Europe’s electric trucks — Partnership with Octopus Energy to launch more than 30 stations for electric lorries in Europe by 2035.
- Robots will replace 700,000 delivery workers ‘sooner or later’, warns JD.com boss — China’s rapid adoption of technology threatens millions of gig-economy jobs, policymakers fear.
- China restricts trading with some U.S. rare earth companies — Beijing introduces more export controls in retaliation for Washington’s ‘wrongful’ actions.
- Iran war supercharges electric vehicle uptake in Africa — Boom in demand for electric motorbikes and buses on continent is a boost for China.
- Philippines fears China may move to seize full control of disputed atoll — Defence secretary warns of heightened Chinese military activity around Scarborough Shoal.
- Opinion: Why sinodollars outweigh the petroyuan — China’s currency is becoming a more important part of the global financial system but the dollar is still in control. By Robin Harding.
The New York Times
- China Tightens Rare Earth Grip on U.S. Firms, Threatening Trade Clash — The move targets two U.S. manufacturers at the center of the Trump administration’s effort to rebuild the domestic supply chain for critical magnets.
- With No Team in the World Cup, China’s Fans Celebrate a Referee — Most people watching Curaçao play Ecuador focused on the team’s goalkeeper. For some fans in China, the draw was Ma Ning, the tournament’s highest-ranking Chinese referee.
- While the World Scrambles for Oil, China Sits on Full Tanks — The possible reopening of the Strait of Hormuz may not prompt China to return quickly to prewar levels of oil purchases from the Persian Gulf.
Caixin
- In AI Pitch, Alibaba Chairman Urges Europe to Look Beyond U.S. Tech — Alibaba Chairman Joe Tsai tells European companies that open-source models such as Qwen can help them diversify their technology stack and protect data.
- Studio Chief Behind Megahit ‘Ne Zha 2’ Lays Out AI’s Limits in Animation — Artificial intelligence cannot fix the fundamental bottlenecks in China’s animation industry and is unlikely to fully replace filmmaking.
- China’s AI Boom Is Rewiring Its Power Grid — A stock frenzy around Datang International shows how investors are chasing the promise of “computing-power synergy.”
- How a Free Lunch Helps With a Quiet Crisis in Aging Rural China — For China’s rural empty nesters, this daily lunch is a lifeline for both malnutrition and loneliness.
- Opinion: China Targets Online Extortion in Defense of Private Enterprise — Under the guidance of the Cyberspace Administration of China, major internet platforms recently drafted a pact aimed at policing infringing content. By Caixin.
South China Morning Post
- In China, some researchers are attending academic conferences that do not exist — Complaints growing about a ‘grey industry’ catering to the need for published papers and attendance at specialist events.
- The U.S. town, the Chinese company and the bankrupting battle over a battery plant — Residents of a Michigan township have said ‘no Gotion’ to a US$2.36 billion factory but the price they pay could be even greater.
- Cross-border biotech deals grow more complex as U.S. targets China investment links — China’s biotech boom continues to attract Western drug makers even as Washington expands investment and technology controls.
- How ‘lying flat’ went from a niche subculture to mainstream phenomenon — Spy agency says foreign forces are ‘brainwashing’ people, but critics call lying flat a rational response to a broken system.
- Nie Huihua on the non-Westernness of Chinese government and the challenge to innovation — Harvard-trained professor examines the tension between strengthening centralised control and encouraging local enthusiasm.
Nikkei Asia
- China hits dozens of US companies with export controls, procurement bans — Measures against drone, rare-earth and other entities signal fresh trade tensions.
- Chinese appliance brands gain ground in Southeast Asia — TVs and air conditioners drive gains as prices and features appeal to younger buyers.
- China’s EV makers BYD, Xpeng move SUVs upmarket but risk glut — Analysts warn short product cycles and discounting might erode returns.
- From repair shop to world stage, China bike maker wins young hearts — Viral race wins turn Chongqing plant into pilgrimage site for fans.
- Opinion: ByteDance sidelines listing as China’s first $1 trillion valuation nears — With economy showing resilience, hopes for bullish sentiment for shares are rising. By Henny Sender.
Bloomberg
- China Lays Out Blueprint to Boost Consumption of Clean Energy — China has laid out broad new rules that mandate increased use of renewables as it continues to shift the focus of its energy transition from building new generation to ensuring it gets consumed.
- Chinese Steel Market Enters Long Plateau After Property Crash — The Chinese steel market is navigating a prolonged weakening in demand rather than a cliff-drop collapse, as the steep decline from property is increasingly offset by manufacturing and exports.
- Peer-Beating Tech Fund Doubles China Exposure in Contrarian Bet — A peer-beating technology stock fund is taking profits on some hot U.S. trades and adding exposure in China, seeing opportunities in the Asian nation’s internet giants and hardware makers.
Reuters
- China lines up second LNG terminal for sanctioned Russian cargoes — The newly built Longkou LNG terminal in eastern China’s Shandong province, operated by state pipeline giant PipeChina, is being lined up to receive Arctic LNG 2 cargoes.
- China’s 618 shopping festival sees flat e-commerce sales as shoppers remain cautious — The festival, originally a single-day event celebrating JD.com’s founding on June 18, 1998, has evolved into a month-long affair spanning all major e-commerce platforms.
- As China gorges on homegrown foie gras, France faces a new rival — Over the last 10 years in China, foie gras has gone from a high-end delicacy to a popular affordable product, spurring farmers to become even more ambitious.
Other Publications
- Foreign Policy: Don’t Let China Stack the Deck — To combat Beijing, Washington needs a program to spread its AI worldwide.
- Foreign Affairs: China Could Win Taiwan Without Fighting — The Cost of Trump’s Equivocation.
- The Economist: China is having another AI moment — A new model has narrowed the gap with America.
- Rest of World: Chinese universities are cutting language majors to make way for AI — Universities are dropping programs in translation and foreign languages while adding degrees in embodied intelligence, AI, and robotics.
