2 h. ago As Chinese exporters explore home market, how are letters of credit helping?

After the United States imposed so-called reciprocal tariffs on imports from China in April, Beijing took steps to help Chinese exporters sell their products domestically. In addition to the staging of product promotion events across the country and the offering of fiscal and financial incentives, Beijing also encouraged the increased use of letters of credit (L/Cs) to help such businesses switch focus to the domestic market. What is a domestic letter of credit? A letter of credit, also known as...

Politics

2 h. ago Chinese worker requesting sick leave criticised for being weak and punished

A human resources supervisor in southeastern China triggered widespread public outrage and initiated a government investigation after verbally insulting an employee who requested sick leave for a fever, labelling her “too weak” and suggesting she seek psychiatric help. The controversy gained public attention on June 5, when a female employee – whose identity remains undisclosed – shared on social media that she had been verbally abused by her employer after asking for sick leave due to a...

Politics

8 h. ago Chinese solar firms bank on overseas expansion to survive amid US tariffs

Chinese solar and energy-storage companies will continue to press ahead with their overseas expansion with or without a long-term agreement on trade tariffs, as production abroad holds the key to their long-term survival, according to executives at China’s largest solar industry exhibition. Although the US and China reached a 90-day truce in their ongoing tariff war in May, solar panel exports from China and Southeast Asia to the US are still subject to tariffs of as much as 3,521 per cent, with...

Economics

16 h. ago Trump Says Trade Deal With China is ‘Done,’ Imposes 55% Tariff

Trump Says Trade Deal With China is ‘Done,’ Imposes 55% Tariff  TechRepublic

Politics

17 h. ago China says it will remove all tariffs on African exports to boost trade

China says it will remove all tariffs on African exports to boost trade  Reuters

Politics

17 h. ago Exclusive: French cognac makers offer China minimum import prices to fend off tariffs

Exclusive: French cognac makers offer China minimum import prices to fend off tariffs  Reuters

Economics

18 h. ago Beijing national security authorities carry out operation with police in Hong Kong

Beijing’s national security authorities in Hong Kong launched a joint operation with local counterparts on Thursday over a case of suspected collusion with foreign forces. The investigation is the first publicly known joint operation by Beijing’s national security arm in the city and the local police force. According to authorities, six people and an organisation were suspected of having committed the offence of “collusion with a foreign country or with external elements to endanger national...

Events

19 h. ago The Global Investment Cooperation Trends Forum Convenes in Beijing as Chaoyang advances international innovation ecosystem

The Global Investment Cooperation Trends Forum Convenes in Beijing as Chaoyang advances international innovation ecosystem  Global Times

Economics

19 h. ago Xpeng and Chinese EV peers aim to win over Hongkongers amid global push

Chinese electric vehicle (EV) maker Xpeng aims to start offering Hong Kong consumers smart cars featuring semi-autonomous driving systems next year as it gears up to take on Tesla’s FSD (Full Self-Driving) feature outside mainland China. He Xiaopeng, co-founder and CEO of the Guangzhou-based carmaker, said in Hong Kong on Thursday that testing of its Xpeng Navigation Guided Pilot (X NGP) driver-assistance system in the city would take only two months before sales could begin. However, he added...

Politics

20 h. ago Customs works with University of Hong Kong to develop crypto transaction tracer

Customs officials are working with the University of Hong Kong to develop a tool that can trace cryptocurrency transactions, with the authority stressing it had recorded seven suspected money laundering cases involving virtual assets and more than HK$9 billion (US$1.1 billion) in recent years. Mario Wong Ho-yin, assistant commissioner for intelligence and investigation at the Customs and Excise Department, said on Thursday it would ramp up collaborations with academics, finance and virtual asset...

Politics

22 h. ago China to remove tariffs on nearly all goods from Africa as both criticise US

Twenty more African countries, mostly from the continent’s middle-income nations, are set to gain access to the world’s largest consumer market duty-free as Beijing plans to remove tariffs for all products from every African nation except eSwatini. The measure was announced as African ministers joined Beijing at a meeting in central China affiliated with the Forum on China-Africa Cooperation (FOCAC). Amid the tariff war, representatives from China and African nations accused the United States of...

Politics

22 h. ago ‘Overflowing with faeces, urine’: 150 dead cats found in Japanese woman’s home

A volunteer at an animal welfare group in Japan has been arrested after about 150 dead cats were discovered at her home in Kumamoto city. Police and animal rescue volunteers found the bodies, some in an advanced stage of decomposition, on Tuesday after they entered the woman’s home to investigate a pet owner’s complaint to the animal welfare group on May 27. The complainant said she had handed over four of her late mother’s pet cats to the suspect, who had promised her regular updates and...

Events

24 h. ago Firefighters put out blaze in busy Hong Kong shopping district

Hong Kong firefighters have extinguished a blaze that erupted in Causeway Bay on Thursday afternoon and caused smoke to billow into the streets of the busy shopping district. The Information Services Department said the fire was put out at around 4.48pm, nearly an hour and a half after the blaze was first reported. The Fire Services Department said that no injuries were reported, adding that the cause of the blaze was still under investigation. A Post reporter earlier observed smoke coming from...

Economics

24 h. ago Oil Prices Retreat. Investors Weigh Up China Deal and Middle East Tensions.

Oil Prices Retreat. Investors Weigh Up China Deal and Middle East Tensions.  Barron's

Economics

24 h. ago Trump’s ‘done deal’ with China just brings tariffs back to Liberation Day levels

Trump’s ‘done deal’ with China just brings tariffs back to Liberation Day levels  Fortune

Politics

29 h. ago Chery’s stock to debut in third quarter in carmaker’s Hong Kong IPO

Chery Automobile, China’s second-largest automobile maker by volume, is aiming to complete its initial public offering (IPO) in Hong Kong in the third quarter of this year, said its chairman. The company, based in Wuhu city in eastern China’s Anhui province, has filed its intention to list on the Hong Kong stock exchange and use the city as its springboard for venturing into the global market, said Yin Tongyue during the 2025 Automotive Expo in the city. “We hope to have more of our...

Politics

30 h. ago Japan weighs tightening rules on visa popular among Chinese nationals

Japan is considering increasing the minimum investment threshold for its business manager visa in a bid to make it harder for foreigners to obtain residence status and launch commercial operations in the country, as the scheme becomes increasingly popular with Chinese nationals. The visa, which offers relatively accessible entry for foreign entrepreneurs, permits stays of up to five years for those who either invest 5 million yen (US$34,711) or hire two full-time employees while maintaining an...

Politics

31 h. ago To achieve its AI ambition, Hong Kong must start investing in schools

With rapid advances in technological development transforming industries and permeating every facet of our lives, there are mounting calls for schools to embrace artificial intelligence in the curriculum. While the focus on AI can seem overwhelming, the role of schools in this new AI-driven world demands attention. Where there is a focus on AI in schools, it is likely to be about effective and ethical ways to use AI. This is important, especially the focus on ethical issues, but there is perhaps...

Politics

33 h. ago US venture capital firm to unload stakes in 40 Chinese tech start

Shares of a few dozen China-based start-ups may be up for grabs as their investor, US venture-capital firm Eight Roads, plans to exit its Chinese technology holdings. The move, reported by Bloomberg on Tuesday, comes as geopolitical tensions and a sluggish Chinese economy prompt some global investors to retreat. Domestic and government-backed funds and financing products would increasingly drive start-up funding in the world’s second-largest economy, analysts said. Fidelity Ventures-backed Eight...

Politics

36 h. ago Small retailers on 'vacation from hell' as they seek clarity on Trump's China tariffs

Small retailers on 'vacation from hell' as they seek clarity on Trump's China tariffs  CNBC

Politics