73 m. ago US secretary of state hints at possible meeting with Chinese foreign minister

US Secretary of State Marco Rubio said Thursday that he was working on a possible sit-down in coming days with China’s foreign minister, Wang Yi, on the sidelines of an Asean meeting in Malaysia amid a contentious trade dispute. If realised, the meeting on the periphery of the Association of Southeast Asian Nations conclave would be the first time the two top diplomats will have met in person since Rubio assumed his position in January. Rubio, who also holds the post of national security...

Politics

5 h. ago China to shoot against Korea for fifth time in 15 months at Madrid 2025

China to shoot against Korea for fifth time in 15 months at Madrid 2025  World Archery

Events

5 h. ago China set to up Iran support, cyborg bee is unveiled: SCMP daily highlights

Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. China likely to strengthen backing for Iran as it looks to secure interests Beijing is likely to step up support for Tehran as it tries to secure its strategic interests in the Middle East, analysts say, amid concerns over how the recent Iran-Israel war will reverberate across the resource-rich region. 2. ‘Whatever they do is wrong’: Chinese exporters...

Politics

5 h. ago Chinese business owners now in US see American dream become reality of hardship

As the US wields tariffs in a bid to lure manufacturers back home, an erratic trade policy, a controversial immigration crackdown and weakening consumer demand have taken the shine off the American dream for some Chinese investors already stateside. On Monday, President Donald Trump postponed the roll-out of a new round of his so-called reciprocal tariffs – originally slated for July 9 – pushing the effective date to August 1. His latest measures include tariffs of up to 40 per cent on imports...

Politics

7 h. ago Ahead of Beijing summit, EU seeks to slash rare earth reliance on China

Ahead of Beijing summit, EU seeks to slash rare earth reliance on China  Business Standard

Politics

7 h. ago Beyond gold: India sees America’s bitcoin reserve – and eyes its own

A call by a prominent member of India’s ruling Bharatiya Janata Party to establish a strategic bitcoin reserve for the country has stoked debate among digital finance experts over its feasibility. Insisting that New Delhi had a “unique opportunity to lead” and pointing to trailblazers such as Bhutan, party spokesman Pradeep Bhandari drew attention to whether India’s rapidly growing economy would benefit from a “measured bitcoin strategy” which could strengthen economic resilience and project...

Politics

8 h. ago Why investors think Starbucks’ China business may be overvalued

Why investors think Starbucks’ China business may be overvalued  CNBC

Economics

9 h. ago China likely to strengthen backing for Iran as it looks to secure interests

Beijing is likely to step up support for Tehran as it tries to secure its strategic interests in the Middle East, analysts say, amid concerns over how the recent Iran-Israel war will reverberate across the resource-rich region. But one analyst noted it was a balancing act for Beijing to avoid compromising ties with Arab countries and the Gulf Cooperation Council nations. The assessment was made as policymakers around the world are closely watching how the 12-day conflict in June – briefly joined...

Politics

10 h. ago EU on edge: why the bloc has no quick fix for China’s rare earth dominance

The European Union is facing growing calls to act against Beijing’s dominance over rare earth supply chains, highlighting persistent tensions just weeks before the coming EU-China summit. “Europe faces dual coercion: Trump’s tariffs and more threateningly, China’s strategic chokehold on rare earth exports,” said Bart Groothuis, MEP for Renew Europe, a centrist group in the European Parliament led by French President Emmanuel Macron’s Renaissance party. “This is not collateral damage from the...

Politics

10 h. ago EU urges China for rare earth access amid US tariffs, growing supply worries

The European Union is facing growing calls to act against Beijing’s dominance over rare earth supply chains, highlighting persistent tensions just weeks before the coming EU-China summit. “Europe faces dual coercion: Trump’s tariffs and more threateningly, China’s strategic chokehold on rare earth exports,” said Bart Groothuis, MEP for Renew Europe, a centrist group in the European Parliament led by French President Emmanuel Macron’s Renaissance party. “This is not collateral damage from the...

Politics

12 h. ago Why dozens of Chinese firms are joining the weight loss drugs fray

Sales of weight-loss drugs in the West have soared in recent years, driven by the approval of a new class of more effective medication, the rapid growth in obese populations owing to poor diet and lack of exercise, and endorsements by celebrities and social media influencers. In China, over 60 late-stage drugs are undergoing clinical trials. In the coming years, these may compete with the products of incumbents such as Denmark’s Novo Nordisk and US-based Eli Lilly, Boston-based global...

Economics

14 h. ago Rubio assures Malaysia has more time to negotiate US tariffs, Anwar says

Malaysia will have “about a month” to negotiate a better tariff deal with the United States, Prime Minister Anwar Ibrahim has said, as the Southeast Asian nation scrambles to bring down punishing levies that threaten to cut growth and ruin businesses reliant on American demand. US President Donald Trump earlier this week revealed he had sent letters to 14 nations announcing tariffs of between 25 and 40 per cent that would take effect from August 1, much of it focused on members of the...

Events

14 h. ago China offers subsidy to those hiring unemployed young people

China is stepping up its efforts to stabilise employment and bolster household incomes, as labour market pressures persist amid sluggish economic growth, fierce domestic competition and the trade war with the United States. The authorities will provide a one-off employment subsidy for companies and social organisations that hire unemployed people aged between 16 and 24, the General Office of the State Council said in a circular released on Wednesday. Employers who sign formal contracts and pay...

Politics

16 h. ago Hong Kong stocks waver as investors await details on policy support from Beijing

Hong Kong stocks fluctuated between gains and losses on Thursday as investors awaited signals on additional policy support from Beijing after China’s deflation deepened and the end of the 90-day tariff ceasefire with the US gets closer. The Hang Seng Index fell less than 0.1 per cent to 23,887 as of 10.05am local time, while the Hang Seng Tech Index dropped 0.4 per cent. On the mainland, the CSI 300 Index climbed 0.2 per cent and the Shanghai Composite Index added 0.3 per cent. Sunny Optical...

Economics

16 h. ago Hong Kong stocks rebound as investors await details on policy support from Beijing

Hong Kong stocks rebounded on Thursday as investors awaited signals on additional policy support from Beijing as the end of the 90-day tariff ceasefire with the US neared and after China’s deflation deepened. The Hang Seng Index rose 0.6 per cent to 24,028.37 at the close and the Hang Seng Tech Index dropped 0.3 per cent. On the mainland, the CSI 300 Index and the Shanghai Composite Index both climbed 0.5 per cent. Sunny Optical Technology advanced 6.1 per cent to HK$75.45 and BYD Electronic...

Economics

16 h. ago Can catlike US tariffs chase China’s manufacturing mouse out of the Asean maze?

Chinese exporters like Huang Yongxing are desperate for some straight answers so they can start making and shipping goods from their factories in either China or Southeast Asia. And the answers – or at least updates – that Huang does get, he shares on his social media account via weekly updates that have gained traction among owners of small and medium-sized businesses as disruptive and volatile tariff policies out of Washington continue to redraw the profitability lines for manufacturers. They...

Economics

16 h. ago ‘Whatever they do is wrong’: Chinese exporters trapped by Trump’s Asean tariffs

Chinese exporters like Huang Yongxing are desperate for some straight answers so they can start making and shipping goods from their factories in either China or Southeast Asia. And the answers – or at least updates – that Huang does get, he shares on his social media account via weekly updates that have gained traction among owners of small and medium-sized businesses as disruptive and volatile tariff policies out of Washington continue to redraw the profitability lines for manufacturers. They...

Politics

17 h. ago Mahathir turns 100, still shaping Malaysia’s political landscape

Malaysia’s former prime minister Mahathir Mohamad turned 100 on Thursday, marking a rare milestone for any world leader while defying age with his sharp mind and relentless work ethic. Mahathir’s social media platforms have been inundated with well-wishes over the last few days from Malaysians as well as admirers abroad, particularly in the Muslim world, where he is seen as an icon of moderate Muslim leadership who dares to speak up against the West. The two-time prime minister, whose 24 years...

Politics

17 h. ago It’s time for business to stop profiting from Israel’s ‘economy of genocide’

Genocides committed or sponsored by the West have often been a highly profitable business. Whether it was against the native American population in the United States throughout much of the 19th century, the colonisation of the Congo by King Leopold II of Belgium, or the Nazi Holocaust, many individuals and companies have profited greatly from humanity’s worst crimes – through direct participation or by providing services and support. A new report by Francesca Albanese, the courageous UN special...

Economics

18 h. ago Commercial property crisis looms in Hong Kong amid sliding values

Hong Kong is facing a commercial real estate crisis, with small and medium-sized developers as well as banks under increasing pressure as capital values slide amid lethargic leasing activity, according to JLL. The capital value of commercial property was set to drop by “a further 5 to 10 per cent” this year, said Joseph Tsang, chairman of the property consultancy in Hong Kong. Selling commercial properties at such prices is not “practical or realistic”, he added. That meant the looming crisis...

Events