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
- SKF Forms Robotics JV With Leaderdrive in China — Based in China, the new venture is expected to become operational at the end of the year.
The Financial Times
- China steps up claims over sea east of Taiwan — Beijing argues Japan-Philippines talks on maritime boundaries violate international law as it ramps up pressure on Taipei.
- Anthropic moves to close loopholes that allow Chinese access to Claude — Engineers are still finding ways to use AI models despite stringent restrictions.
- What China thinks — and what Confucius has to do with it — Daniel Bell and Rongbin Han shed light on the country’s modern dilemmas by exploring the desire to return to the traditions of the past.
The New York Times
- China Defends Widely Criticized ‘Ethnic Unity’ Law — Rights groups and Western officials have criticized the law as a threat to Tibetans, Uyghurs and other minorities.
- Tibetan Activist Sets Self on Fire Outside U.N. in Protest Against China — A Tibetan activist lit himself on fire and outside of the United Nations headquarters in New York on Thursday to protest China’s control over his homeland.
Caixin
- In Depth: China’s Inbound Tourism Rebounds, but Supply Gaps Cloud Outlook — Inbound tourism is rebounding across China as expanded visa-free entry, easier mobile payments and viral social media converge.
- Malaysia Blocks Low-Cost EV Imports, Hitting Chinese Automakers — Malaysia imposed stringent new import thresholds for fully assembled electric vehicles on Wednesday.
South China Morning Post
- China aims to ‘infiltrate’ US-Mexico-Canada trade deal, says American manufacturing group — The Alliance for American Manufacturing says China is trying to circumvent the USMCA through its automotive investments in Mexico.
- From starry-eyed to sceptical: why young Chinese are turning away from the American dream — Unlike older generations, who saw the US as the ultimate destination, China’s Gen Z views the superpower through a more pragmatic lens.
- What a seating chart might reveal about the future of China’s military leadership — Two generals appear near top PLA officers at a high-profile event, signalling their swift rise to fill gaps left by anti-graft campaign.
Nikkei Asia
- Gold slump tests Chinese brand Laopu’s resilience as luxury upstart — Shares in ‘Hermes of gold’ have fallen about 60%, exceeding declines of peers and metal itself.
- Opinion: China’s push east of Taiwan tests Japan-Philippines deterrence — Beijing is betting Tokyo and Manila can’t turn coordination into meaningful action. By William Matthews.
Bloomberg
- China Urges ‘Unimpeded Passage’ of Hormuz as Fee Chatter Mounts — Leading European powers are apparently accepting that vessels will have to pay fees to Iran and Oman, according to people familiar with the thinking in Europe.
- China Tech’s Deepening Valuation Slump Fails to Lure Buyers — The selloff in China’s biggest internet firms has driven some valuations to record lows.
- China Quant Funds Draw Billions as AI Trounces Human Traders — Quant funds in China have become very popular, with Ubiquant raising 2.6 billion yuan in less than two hours for a new fund in May.
Reuters
- Alibaba to ban employees from using Anthropic’s coding tool, source says — Anthropic has accused Alibaba of illicitly extracting its AI model capabilities.
- India allows four Chinese-linked power equipment firms to bid for government projects — India’s power ministry had sought the exemption in January for entities with manufacturing units in India.
- China dismisses US, EU criticism of new ethnic law as ‘malicious smear’ — The law, which went into effect on Wednesday, gives Beijing the basis to take action against people outside its borders.
- Inside Taiwan’s nightmare scenario: Chinese blockade, earthquake, sabotage and invasion — Taiwan has been ramping up its so-called “resilience” exercises to prepare civilians and officials for crises.
Other Publications
- The Guardian: ‘I have successfully defended my personal dignity’: woman wins rare MeToo court victory in China — Former intern and employee awarded 5,000 yuan (£554) in emotional damages after court found former manager had harassed her.
- The AP: Hong Kong bookseller Lam Wing-kee, seized by Chinese authorities in 2015, dies in Taiwan at 70 — Lam, who was the manager of Causeway Bay Books in Hong Kong, moved to Taipei in 2019.
