9 h. ago Despite U.S., China trade deal, tariffs keep economy in state of uncertainty

Despite U.S., China trade deal, tariffs keep economy in state of uncertainty  Axios

Economics

11 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

15 h. ago Chinese citizens in Iran, Israel need to prepare for attacks, embassies warn

The Chinese embassy in Israel warned its citizens on Friday morning to take safety precautions for potential attacks as Tehran considers a retaliation against Israeli strikes targeting its nuclear sites. The Israeli strikes were “significantly escalating the tensions” in the Middle East, the embassy said in a statement that urged Chinese citizens in Israel to closely monitor the evolving situation, remain calm, and stay vigilant. “Citizens are advised to prepare for potential attacks involving...

Events

16 h. ago Severe Tropical Storm Wutip: Hong Kong’s T1 to remain in force for most of Friday

The Hong Kong Observatory has said the No 1 typhoon warning signal will remain in force for most of Friday, as the storm edges slightly away from the city. The forecaster said in a special weather warning at 8am on Friday that Severe Tropical Storm Wutip intensified on Thursday night but had taken a slightly westward path away from Hong Kong. “The standby signal No 1 will remain in force for most of the time [on Friday],” it said. “The Observatory will assess [between Friday night and Saturday...

Events

16 h. ago Severe Tropical Storm Wutip: Hong Kong’s T1 alert to remain in force for Friday

The Hong Kong Observatory has said the No 1 typhoon warning signal will remain in force on Friday as it considers whether to raise the signal on Saturday. The forecaster said on Friday afternoon that Severe Tropical Storm Wutip, which brought squally showers to the coast of Guangdong, will turn northeastwards gradually. “The standby signal No 1 will remain in force [on Friday],” the forecaster said. Wutip, which is the Cantonese word for “butterfly”, will move across Beibu Wan on Friday,...

Events

17 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

18 h. ago TikTok’s sister app Douyin courts merchants with lower deposit fees

TikTok owner ByteDance, whose Douyin short video app has emerged as a popular e-commerce shopping platform in China, will cut the guarantee deposit payable by merchants, in a move designed to keep existing sellers and lure new ones amid fierce competition. The deposit, held by the platform on behalf of sellers to cover potential costs such as refunds or penalties, would be capped at 5,000 yuan (US$695), a fraction of the previous maximum of 500,000 yuan. As a result, the deposit payable by...

Events

20 h. ago Trump seems to reverse course on Chinese students in US, saying he supports them

US President Donald Trump reiterated his support for Chinese students in America on Thursday and pledged to help them remain in the country after graduation, distancing himself from initiatives that his administration has announced to limit or block international students because of national security concerns. “I’ve always been strongly in favour of it. I think it’s a great thing,” Trump said on Thursday, referring to Chinese nationals seeking to study in the US. “It’s also good for our schools....

Politics

25 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

26 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

27 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

31 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

33 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

36 h. ago Hong Kong exhibition opens to mark fifth anniversary of national security law

An exhibition commemorating the fifth anniversary of the Beijing-imposed national security law has opened in Hong Kong, featuring video footage and images from three major social movements, with city officials urging residents to remain vigilant against threats. At the opening ceremony of the government-organised event on Thursday, Secretary for Security Chris Tang Ping-keung noted that as of June 1, 326 people had been arrested under relevant national security laws, including the legislation...

Events

39 h. ago Chinese astronomers recorded details of dying star’s explosion in 1408: study

Just after sunset on an October evening in 1408, six years into the reign of the Ming dynasty’s Emperor Yongle, Chinese court astronomers spotted a mysterious new star glowing high in the southern sky, near the heart of the Milky Way. “It was about the size of a cup-shaped oil lamp, with a pure yellow colour, smooth and bright,” according to Hanlin Academy scholar Hu Guang, in a formal report to the emperor that interpreted its appearance as a heavenly endorsement. “We, your ministers, have...

Events

40 h. ago With early stablecoin law, Hong Kong looks to keep edge as finance hub

With the passage of one of the world’s most comprehensive stablecoin laws two weeks ago, Hong Kong is looking to stay at the forefront of global finance while addressing lessons from past industry setbacks, according to analysts. Being a “first mover” in stablecoin legislation “reflects the determination” of the city’s government to “unlock value that they see in this sector, given the number of hurdles from past incidents”, said Melvin Deng, CEO of digital asset trading firm QCP Capital. Hong...

Politics

41 h. ago Tropical Storm Wutip: Hong Kong’s T1 alert to stay in effect throughout the day

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. New users who download our updated app get a seven-day free trial. Hong Kong’s weather forecaster has said that the No 1 typhoon warning signal will remain in force throughout Thursday, as squally showers associated with a tropical storm near the coast of Guangdong continue to affect the city. The Observatory said that Tropical Storm Wutip, which is named...

Events

41 h. ago Tropical Storm Wutip: Hong Kong’s T1 alert to stay in effect until at least Friday

This story has been made freely available as a public service to our readers. Please consider supporting SCMP’s journalism by subscribing. New users who download our updated app get a seven-day free trial. Hong Kong’s weather forecaster has said the No 1 typhoon warning signal will remain in force until Friday afternoon or possibly Saturday, as squally showers associated with a tropical storm near the coast of Guangdong province continue to affect the city. The Observatory said Tropical Storm...

Events

45 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

46 h. ago What a 55 Percent Tariff on Chinese Goods Could Mean for Footwear Firms

What a 55 Percent Tariff on Chinese Goods Could Mean for Footwear Firms  WWD

Economics