37 m. ago Cairo calling: why Chinese factories are moving to Egypt amid the trade war

Until recently, Jiahao’s guest house in a quiet corner of Cairo was a modest pit stop for Chinese tourists on their way to visit the Egyptian pyramids. But this spring, the hostel suddenly began to attract a different kind of client. Jiahao, the hostel’s 26-year-old owner, began welcoming groups of factory owners from across China and Southeast Asia – grizzled businesspeople whose trips were not about sightseeing, but survival. “Many business owners now book week-long stays,” Jiahao said. “I...

Events

73 m. ago China's Military Conducts Patrols in South China Sea, Warns Philippines

China's Military Conducts Patrols in South China Sea, Warns Philippines  U.S. News & World Report

Events

97 m. ago Why China’s officials are braced for another round of performance inspections

Chinese officials already have to deal with a series of inspectors knocking on their doors to keep tabs on their activities, but now they will also have a new group of “performance observers” looking over their shoulders to check that they are not wasting government funds. Local officials in China are often castigated for spending money on “white elephants”, such as flashy construction projects, in the hope these will provide a quick fix for the local economy and win favour with their...

Politics

97 m. ago Chinese woman schemes to make US$1.4 million, lives with rich men, loots homes

A woman in China set up a scheme to save 10 million yuan (US$1.4 million) to buy a house by dating rich men, moving in with them and then looting their homes. Yin Xue, 24, from rural Hunan in central China, grew up in a poor family. At the age of 18, she went to the lavish wedding of one of her boyfriend’s friends, according to the mainland media outlet Guangming Net. Seeing the couple’s designer clothes, villa and private staff sparked envy and ambition in Yin. “I realised I wanted that kind...

Society

2 h. ago Beijing’s top Taiwan official warns independence forces will bring ‘disaster’

Mainland China’s top official on Taiwan affairs has called on both sides of the Taiwan Strait to oppose “Taiwan independence and external interference” and promote closer integration. “Taiwan independence forces and their activities undermine national sovereignty and territorial integrity, disrupt peace and stability in our homeland, and incite confrontation and division among compatriots,” said Wang Huning, the fourth-ranking official of China’s ruling Communist Party. He made the comments at...

Events

3 h. ago New stablecoin law to enhance Hong Kong’s financial appeal to global issuers: Chan

The expected increase in market demand for stablecoins will encourage licensed institutions overseas to issue such cryptocurrencies in Hong Kong, boosting competitiveness, according to the city’s financial chief as it prepares for its regulatory regime to take effect in August. In his weekly blog on Sunday, Financial Secretary Paul Chan Mo-po said that the city market value of stablecoins globally was estimated at around US$240 billion, with trading volume exceeding US$20 trillion last...

Politics

3 h. ago Chinese media contrasts US pageantry and violence on Trump’s parade day

Donald Trump’s first large-scale military parade in decades has prompted Chinese commentators to compare and mock the contrast between the US president’s pageantry and the nationwide unrest sparked by his immigration policies. The festivities in Washington on Saturday occurred on a day marked by protests around the nation that underscored the country’s deep divisions. In China, some state media and online commentators declared Trump’s “America First” policy a failure in light of the mass...

Politics

3 h. ago Carmakers battle to find supplies of rare earths as China tightens its grip

Carmakers battle to find supplies of rare earths as China tightens its grip  Financial Times

Events

3 h. ago ‘Nothing new’: US Army parade holds no surprises for Chinese military minds

The US Army’s parade through Washington on Saturday offered no surprises, Chinese military observers said, while cautioning that the full force of American power was not on show. The parade for the US Army’s 250th anniversary showcased a range of American equipment, including Abrams tanks, Paladin artillery, robot dogs, reconnaissance drones, AH-64 Apache helicopters and Joint Light Tactical Vehicles. Most of the technology is well known, with machinery such as the Abrams tanks deployed widely...

Events

4 h. ago Study shows China’s temples act as rare sanctuaries for ancient trees

At the foot of Zhongnan Mountain in the Chinese city of Xian, the ancient Guanyin Chan Temple is home to a ginkgo tree with a history spanning over 1,400 years. As autumn approaches each year, this ancient ginkgo tree bursts into a spectacular golden display. The tree is said to have been planted by Emperor Li Shimin of the Tang dynasty (618-907) during a visit to the temple. According to a new study, temples across China – both Buddhist and Taoist – have safeguarded tens of thousands of ancient...

Politics

5 h. ago 1 dead, 4 injured in Chongqing after driver runs into crowd: district police

One person is dead and four others injured after a driver allegedly drove into a crowd in Chongqing, a city in southwestern China, on Saturday after onlookers reportedly criticised him for repeatedly sounding the horn on his car. A police statement issued on Sunday by the Banan district branch of the Chongqing Public Security Bureau alleged the driver, surnamed Xiong, repeatedly sounded the horn after finding his path blocked by another vehicle in Banan, a district in southern Chongqing. The...

Events

5 h. ago China’s Wang Yi decries ‘unacceptable’ Israeli attack on Iran, urges diplomacy

Chinese Foreign Minister Wang Yi called Israel’s attack on Iran an “unacceptable” breach of international law and urged measures to de-escalate tensions in phone calls with his Israeli and Iranian counterparts on Saturday. He told Israeli Foreign Minister Gideon Saar that China could play a “constructive role” in the peaceful resolution of the Iran nuclear issue, saying diplomatic solutions remained viable and a peaceful resolution was still achievable, according to China’s Ministry of Foreign...

Politics

5 h. ago Public shock as Taiwan actress reveals face pinned with needles from skin therapy

Taiwanese actress and singer Joe Chen Chiao-en has caused shock by revealing photos of herself after she underwent an all-over acupuncture treatment. The glaring images have sparked controversy on social media in mainland China. Known as the Queen of Idol Dramas, Chen, 46, first rose to fame in 2013 for her portrayal of Dongfang Bubai in the series Swordsman. She solidified her popularity with hit dramas such as Fated to Love You and The Prince Who Turns into a Frog. Her performance in Fated to...

Events

6 h. ago How the next Philippine president could reshape its South China Sea policy

With Philippine President Ferdinand Marcos Jnr about halfway through his six-year term, questions are growing over whether his successor will uphold his firmer stance on the South China Sea or, as one senior official has warned, retreat to the symbolic “jet ski” posturing and softer policies seen under his predecessor, Rodrigo Duterte. Last month’s midterm elections delivered a split Senate, with Marcos-aligned candidates winning five of the 12 contested seats and Duterte allies clinching the...

Politics

7 h. ago Corporate bond defaults disappear from China’s onshore market

Corporate bond defaults disappear from China’s onshore market  Financial Times

Events

7 h. ago Hong Kong wants an ecotourism boom, but can its parks handle more visitors?

Amy Zhang is dressed in full sportswear, with sunglasses and a lightweight hiking backpack. She is one of many visiting Hong Kong’s Dragon’s Back following the social media craze in mainland China over “in-depth travels” in the city. “The beautiful merging horizon and skyline make good photos for my friend circle on WeChat and RedNote,” the 30-year-old education worker from Hunan province said, referring to her networks on the Chinese social media platforms. “I only wish for better toilets...

Politics

8 h. ago Gen Z’s ‘emotional consumption’ fuels surge in consumer stocks like Pop Mart

Stock investors are capitalising on the spending power of China’s Generation Z consumers, who splurge on everything from gold jewellery to low-priced drinks, delivering multifold returns on so-called new consumer stocks. The ascent of Pop Mart International Group, Mixue Group and Laopu Gold is one of the few bright spots in China’s sluggish consumer industry, which has been plagued by a weak jobs market and the deflationary trend. The robust performance has come at the cost of traditional...

Politics

8 h. ago Why Chinese firms building foreign factories are no longer focused on US market

This year’s escalation of the US-China trade war has led many Chinese companies to rethink their overseas expansion strategies, with accessing the American market no longer their top priority when considering building factories in foreign countries, industry insiders said. There had been a “drastic downshift” in inquiries from Chinese companies seeking land to rent or purchase in Mexico, one of their hottest overseas investment destinations in the past, said Jack Lee, an industrial property...

Economics

9 h. ago Hong Kong’s rent surge hits mainland students and professionals

Wang Ruoshuo, a 21-year-old student from Hefei, the capital of central Anhui province, is searching for a flat in Hung Hom in southern Kowloon, which is close to her university and the company where she interns. As a first-time renter, however, she has been taken aback by the high prices. Wang and her friends are looking for a two-bedroom unit, budgeting about HK$7,000 to HK$8,000 (US$892 to US$1,019) per person. “But when we began our search, we found that properties meeting our criteria would...

Society

9 h. ago Trump tariffs challenge Asean’s unity and economic stability

When US President Donald Trump’s tariff chaos eventually calms, its long-lasting consequences will significantly affect the area just south of China and east of India – Southeast Asia – and its organisational bloc, the Association of Southeast Asian Nations (Asean). Trump’s focus on protectionism is likely to replace uniform tariffs with varying import taxes for different countries. This shift could create divisive and harmful effects for Southeast Asia and Asean, which are interchangeable but...

Economics