The Daily Roundup - The Wire China
August 4th, 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.
August 4th, 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 JournalXi Wants a Strong-Looking Yuan. China’s Economy Keeps Holding It Down. — By the reckoning of one of the most respected currency hands in Washington, China’s currency is between 20% and 30% below its true value. Huggies Stumble in China After Social-Media Firestorm— A state-run newspaper said the diapers tested positive for a substance called formamide. Huggies maker Kimberly-Clark said the findings are false. Deep U. S. Ties With Taiwan Are Surviving Pressure From China—and Trump— The island opens up about American role in training troops for self-defense. The Financial Times‘Cursed island’: the $100bn luxury development hosting tech nomads and scammers— Police raids strike new blow to reputation of Malaysia’s troubled Chinese-backed Forest City project. Opinion: ASML’s hold over the future of chipmaking is weakening— The Dutch company’s monopoly is not at imminent risk but China is edging ever closer. By Lex. The New York TimesWhite House Whipsaws Silicon Valley (and Itself) Over A. I. Rules— The Trump administration has struggled over how to approach “open source” models, which are freely available to download and favored by Chinese companies. CaixinChina’s Renewed Anti-Crime Sweep Emphasizes Legal Restraint to Shield Private Sector— The drive will target traditional syndicates and online extortion rings, as experts warn against profit-driven policing and quotas that marred previous efforts. Civil Service Cheating Scandal in Henan Strikes at the Heart of Youth Anxiety— While not an immediate guarantee of a lifetime government post, successfully completing the program serves as a critical stepping stone to securing a coveted state-backed job. How China’s New Offshore Trust Rules Close Tax Loopholes— The rules impose a 20% personal income tax across the establishment, duration and liquidation phases of these vehicles, marking a major escalation in the crackdown on tax avoidance and evasion. South China Morning PostHow China’s US$900 million port deal in Angola shows its dominance over U. S. interests— As Washington eyes the nation’s critical minerals and invests in a strategic rail project, Beijing leads in strengthening its supply chain. ‘Surprising’ how quickly China’s military is closing gap with U. S. — Beijing’s challenge is to resist temptation to build the PLA into a ‘hammer looking for a nail’, former U. S. Naval War College professor Lyle Goldstein says. Could Silicon Valley’s lobbying create ‘mutual suspicion’ between U. S. and China?— American tech giants are trying to tap into lawmakers concerns about China to secure favourable outcomes, some analysts have warned. Nikkei AsiaHP, Asus and Acer begin using CXMT chips amid memory shortage— But PC makers careful to avoid angering top suppliers Micron, Samsung and SK Hynix. China’s ‘silver economy’ draws Japan nursing care equipment retailers— Yamashita, Welfan aim for 100 stores by 2030 as eldercare market grows. Chinese buyers pull back from US homes as state restrictions grow— Homebuyers from China fall from top to 3rd place, but on average buy higher-priced dwellings. BloombergChina’s AI Blitz Creates ‘Death Zone’ for Rival U. S. Model Makers— Qwen3. 8-Max and Kimi K3 have shown performance comparable to U. S. options, sparking questions over the effectiveness of U. S. chip sanctions intended to slow China’s tech ascent. China Is Getting More Anxious About Mythos Before Trump Meets Xi— Officials in Beijing are seeking a “win-win” approach at upcoming AI talks, but suspicion remains high between the U. S. and Chinese governments. Japan Defense Report Warns On China, Russia, NK Military Links— Joint Chinese and Russian bomber flights and naval exercises are clearly intended as a show of force against Japan and represent a serious concern for national security, the paper said. ReutersTrump administration drafting ban on Chinese data center devices, sources say— The move aims to prevent Chinese firms from stealing data, installing malware or disrupting service at U. S. data centers, which house the chips to train and run AI models. Prestige beauty outpaces high-end bags as China’s luxury spending evolves— L’Oreal CEO Nicolas Hieronimus said last week luxury and dermatological skincare brands overall are growing at around 7% in China, significantly faster than in recent quarters. Shein targets $30 to $40 billion Hong Kong IPO valuation this month, sources say— The valuation marks a dramatic reset for Shein, which private fundraising rounds valued at $98. 2 billion in 2022, before falling to $64 billion in 2023 and April 2024. Other PublicationsForeign Affairs:China’s Quiet Quest to Dominate Latin America— Small Projects, Big Influence. The Economist:China won’t apologise for overcapacity— Its industrial policy rests on a simple principle: might makes right. WIRED:How One Startup Built a (Mostly) China-Free Robot— Ati Robotics assembles its robots in India and uses just a few Chinese parts—a strategy that could pay off as the Trump administration cracks down on Chinese humanoids. Cover StoryFrom “Hide and Bide” to “Loud and Proud”Not content to run the world’s second most powerful country for a decade, Xi Jinping set about changing everything everywhere all at once. In an excerpt from their new book, Steve Tsang and Olivia Cheung examine how Xi seized personal control of China’s foreign policy apparatuses. Corporate Risk Intelligence for National Security, Compliance & Due DiligenceLearn More