The Daily Roundup - The Wire China
June 24th, 2026 | 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.
June 24th, 2026. Good Morning. Welcome toThe Wire’sdaily 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 JournalAlibaba Files Lawsuit Against Pentagon Seeking Removal From Military List— Alibaba Group filed a lawsuit against the U. S. Department of Defense in a San Jose federal court. China Is Luring the World to the Yuan—and Hobbling Western Sanctions— Iran and Russia have used the currency to carry out oil sales and other trade, evading controls on dollar transactions. The Financial TimesChina detains two Japanese nationals over alleged rare earth smuggling— Escalation of dispute with Tokyo comes as Beijing opens whistleblower hotline for violations of critical mineral exports. How to power data centres— China and the U. S. are the clear frontrunners in data centre rollouts as they battle for AI leadership. China’s premier says competitiveness not down to subsidies— Li Qiang dismisses trading partners’ complaints at World Economic Forum’s ‘Summer Davos’. Nvidia’s banned AI chips double in price on China’s black market— U. S. crackdown on illicit exports has made it riskier, harder and more expensive to buy tech giant’s processors. EU joins U. S. pact to break reliance on Chinese AI supply chains— Jacob Helberg, architect of Pax Silica, tells theFTthe American-led group will boost innovation. Alibaba sues Pentagon over inclusion on Chinese military blacklist— Ecommerce group claims U. S. defence department’s ‘arbitrary and capricious’ decision lacked evidence. U. S. Supreme Court limits scope of foreign human rights claims— Justices refuse to consider complaint alleging Cisco enabled Chinese surveillance of banned religious group. Opinion: China and the U. S. , accidental climate saviours of the world— The EU carbon pricing model is being supplanted by Beijing’s green tech spending and Donald Trump’s oil price shock. By Alan Beattie. The New York TimesAlibaba Sues Pentagon Over China Military Label— The Chinese tech giant said it had no ties to China’s military and that the U. S. government had violated the law by making that claim. China Detained 2 Japanese on Suspicion of Smuggling— The Japanese nationals were detained in May in the northeastern Chinese city of Dalian, Japan’s government said, amid tensions between the two countries. Justices Reject Lawsuit Claiming U. S. Company Helped China Target Spiritual Group— The court’s decision could have broader implications for whether companies can be held liable for aiding in international human rights abuses. CaixinChina Auditor Exposes Local Governments Faking Debt Cleanups— Some local governments in China have used deceptive tactics to mask billions of yuan in hidden debt, undermining Beijing’s sweeping campaign to defuse financial risks. China Advances Central Bank Law Revision to Counter Foreign Sanctions— China’s top legislature is reviewing an overhaul of the central bank law that would introduce mechanisms to counter foreign sanctions, fortifying the nation’s financial defenses. China Approves World’s First CAR-T Therapy for Solid Tumors— CARsgen’s Kailimei wins clearance for late-line CLDN18. 2-positive, HER2-negative gastric cancer, marking a milestone for cell therapy beyond blood cancers. South China Morning Post‘China Initiative 2. 0’: U. S. crackdown on Chinese scholars intensifies— Immigration lawyers and activists claim the Trump Administration has ramped up its targeting of Chinese scientists and researchers in U. S. U. S. targets Cuba mining sector in move with implications for China-linked supply chains— Washington revealed sanctions on foreign-backed mining ventures, which Havana slammed for being ‘dishonest and mendacious’. Opinion: China’s evolving political economy, as seen through gaokao scramble— Individuals choose the university and course but the state sets the collective outcome, steering human capital towards development goals. By Winston Mok. Nikkei AsiaChina plans postwar aid for Iran, with eye on energy supply— Beijing prepares to walk diplomatic tightrope to avoid upsetting U. S. , Gulf states. State-backed China Resources Power’s unit to raise $3. 6bn in record IPO— Strong subscription reflects spillover from offshore listing boom. China’s Li-Ning banks on Stephen Curry in ‘partnership of a lifetime’— Sportswear brand hopes to connect with NBA star’s huge fan base at home and abroad. BloombergBeijing Unfazed by China Shock 2. 0 as Premier Touts Openness— Li Qiang played down worries about the disruption wrought by surging exports on the global economy, instead championing the benefits provided to the world by China’s development. Can India and China Finally Settle Their Himalayan Border?— China and India are taking steps to get relations back on track after deadly clashes along their disputed Himalayan frontier, with the sides discussing how to settle their territorial disagreements. China Makes New U. S. Warship Target for Missile Tests— China has built a new U. S. destroyer replica at a remote missile-testing site in its northwestern desert, satellite imagery shows, a target analysts say could be used to test anti-ship weapons. ReutersTaiwan says warning time for any China attack is shortening— Taiwan’s military has begun basing some of its drills on a scenario in which China suddenly turns one of its regular exercises around the island into an actual attack. Other PublicationsForeign Affairs:Why “China First” Will Fail— The Limits and Lessons of a Transactional Foreign Policy. Rest of World:China and the West are taking opposite paths on EV battery recycling— China has 85% of the world’s recycling capacity and a mandate to shred old packs. The U. S. has another plan: use them to save the power grid first. LISTEN NOWWhatever Happened to Jupiter?The Wire China PodcastNow on podcast platforms everywhere,The Wire Chinahits the airwaves to take you behind the scenes of the stories we cover each week. We are dedicated to understanding and explaining one of the biggest stories of our time: China’s economic rise and its influence on the world.