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Showing posts from January, 2026

Cherry-picking influence: Why China is cautious about filling gaps left by US global retreat

"Domestic priorities - enhancing economic growth quality, managing employment and social expectations, and safeguarding political stability - inevitably elevate the opportunity cost of external commitments", said Sun of Tsinghua University. But it will not mean that China is retreating from the international stage altogether. Instead, emphasis will be on areas where domestic and external interests overlap, Sun added. "The key lies in delivering public goods where domestic objectives align with external benefits," he said, pointing to development cooperation, infrastructure connectivity, public health, disaster relief, selective climate and energy initiatives, peacekeeping and humanitarian assistance. Such engagement, he added, allows China to contribute internationally without overextending itself. To manage costs and risks, Beijing is also expected to place greater weight on multilateral channels that diffuse responsibility. China i s likely to prioritise ...

Glovemakers shift focus as China floods markets

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China Discovers $85.9B ‘Treasure’ Under Earth’s Surface

China has made some major gold discoveries in recent months, and among the biggest has been a "superlarge" deposit found in central China with estimated reserves of over 1,000 tons of gold worth $85.9 billion. Geologists detected 40 gold veins, with a reserve of 300 tons of gold, within a depth of around 6,562 feet buried beneath the Wangu gold field in Pingjiang County of the Hunan province, the Geological Bureau of Hunan Province have reported, according to Xinhua, the Chinese state news agency. Described as a "superlarge gold deposit," the site's gold reserve within a depth of about 9,842 feet was approximated to be at over 1,000 tons, which is valued to be around 600 billion yuan, the bureau noted. "Many drilled rock cores showed visible gold," Chen Rulin, an ore-prospecting expert at the bureau, said in a statement, noting that a ton of ore in the 2,000-meter (around 6,562 feet) range contained a maximum of 138 grams of gold. The "buried...

China doubling down on consumption as route out of export reliance: ex-PBOC official

China is pushing consumption to grow faster than overall economic expansion as the nation accelerates a shift to domestic demand-driven growth amid external criticism over trade imbalances, a former deputy governor of the People's Bank of China said at the World Economic Forum. "The policy says consumption growth [should be] stronger than GDP growth … [and] income growth will be higher than GDP growth," Zhu Min said in Davos, Switzerland, explaining that this is the key performance indicator for officials, and that it reflects Beijing's commitment to rebalancing the economy. "I think that China realised that you cannot depend on real estate, exports and credit increases," Zhu added, speaking during a panel discus sion on Wednesday. "You have to move to your own solid footing – there is a domestic market." China "has no choice" but to shift its focus to domestic consumption from an export-dependent model, given a volatile internation...

Multinationals, international institutions hail China’s commitment to multilateralism, free trade at WEF

The World Economic Forum Annual Meeting 2026 takes place in Davos from January 19 to January 23, 2026. Photo: VCG China's participation in the ongoing World Economic Forum (WEF) Annual Meeting 2026 , including a special address by Chinese Vice Premier He Lifeng, highlighted its advocacy for multilateralism, free trade, and an open global economy, positioning the country as a reliable partner committed to inclusive globalization, positions that are being hailed by multinationals and international institutions. China called on the global community to firmly support multilateralism and free trade, and stay committed to win-win cooperation, Chinese Vice Premier He Lifeng said on Tuesday in his address at the WEF Annual Meeting in Davos, Switzerland, the Xinhua News Agency reported. This year's WEF, under the theme "A Spirit of Dialogue," has bro ught together nearly 3,000 representatives from more than 130 countries and regions. Key topics include how to cooperate...

Donald Trump's America-first policies are pushing countries into China's embrace

Inside China, there's a nickname for US President Donald Trump that tells you everything you need to know about how his actions are increasingly seen as a gift to Beijing. They call him Chuan Jianguo, which translates to Chinese "nation-builder" — a mocking title that suggests the US president's foreign and domestic policies are driving countries away from Washington and pushing them into the embrace of China. Trump has been openly vocal about the fact that his America-first attitudes towards Venezuela — and Greenland — are to counter so-called threats from China and Russia. And while he insists his actions are justified, including bombings and imposing tariffs on several European countries that have disagreed with him, they are proving to be uncomfortable for some traditional US allies. It's little surprise then that several countries are now recalibrating their relationship with America and, in some cases, drifting closer towards its biggest competitor. China...

Watch: China unveils cruise missiles and hypersonic missiles in military parade

China 's President Xi Jinping has unveiled a range of cruise and hypersonic missiles at a massive military parade in Beijing. The event on Wednesday (3 September) was held to mark the 80th anniversary of Japan 's defeat in World War Two , and 26 world leaders, including Vladimir Putin and Kim Jong Un , were in attendance. It is the first time that the leaders from China, Russia and Nor th Korea have ever met in public. Some of the weapons unveiled during the event included brand new nuclear-capable intercontinental ballistic missiles, advanced underwater drones and a new model of hypersonic missile.

China suffers 2 failed rocket launches in 12 hours

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China punishes 69 senior officials, as anti-corruption drive deepens

In a speech on Jan 12, Chinese President Xi Jinping said the fight against corruption remains "severe and complex", while calling for an "unwavering high-pressure stance".  China must promote the anti-corruption efforts with stronger determination and find innovative ways to tackle any new trends of corruption, Xi said during a CCDI plenary session.  "Corruption is a roadblock and stumbling stone to the Party and nation's development," he added. "The fight against corruption is a major battle that we cannot afford to lose and must not lose."  His high-profile campaign against corruption continues. Two top Chinese military leaders were expelled from the ruling Communist Party and the military on corruption charges in October.  In their 2025 campaign, authorities investigated 33,000 individuals for offering bribes and transferred 4,306 of them to prosecutors.  Figures were up from 26,000 investigations and 4,271 transfers recorded in 2024, ...

Chinese husband smashes up home after wife buys dishwasher without his consent

A video clip released by a woman in China in which her husband is seen smashing up their home because she bought a 1,500-yuan (US$215) dishwasher has gone viral on social media. The woman, who lives in Guangdong province, southern China, said in a video posted on January 8, that she had bought the machine from an online platform without telling her husband. She said she needed it because the tap water in winter was too cold for her to wash by hand, the Dahe News reported. The distraught woman was left in tears after her husband's violent outburst. Photo: 163.com Her husband does not do any washing up, according to the unidentified woman. The man only found out about the purchase when a worker came to install the dishwasher in their rented flat. The husband ordered his wife to cancel the order and return the machine but she refused. He said that the family could not afford the dishwasher because of high water and electricity charges.

China clamps down on high-speed traders, removing servers

The move shows that officials are focused on levelling the playing field for investors and ensuring market stability [SHANGHAI] China is pulling the plug on a key advantage held by high-frequency traders, removing servers dedicated to those firms out of local exchanges' data centres, according to people familiar with the matter. Commodities futures exchanges in Shanghai and Guangzhou are among those that have ordered local brokers to shift servers for their clients out of data centres run by the bourses, according to the people, who said the move was led by regulators. The change does not only affect high-frequency firms but they are likely to feel the biggest impact. The Shan ghai Futures Exchange has told brokers they need to get equipment for high-speed clients out by the end of next month, while other clients need to do so by Apr 30, the people said. The clampdown will hit China's army of domestic high-frequency firms but will also impact a swathe of global firms that ...

How China’s expanding influence in Africa forced US to extend AGOA

US-China For more than two decades, the African Growth and Opportunity Act has been the anchor of US–Africa economic relations. The decision by the US House of Representatives on Monday to overwhelmingly (340-54) extend the trade pact for a further three years reflects a strategic recalibration by Washington in the face of China's deepening economic and diplomatic engagement with Africa. As China cements its role as Africa's largest trading partner, financier and infrastructure builder, the US has found itself increasingly exposed, especially under the Donald Trump administration. Through his "America First" domestic and foreign policy, President Trump has rolled back critical aid programmes and withdrawn from key UN and other multilateral institutions that mostly deal with problems in the Global South, particularly Africa. While the proposed ext...

China’s demographic alarms blare as births hit historic low and population shrinks again

China's birth count plummeted to a record low last year, falling by about 10 million from its 2016 peak and slashing the total by more than half in less than a decade, as the country's population shrank for a fourth consecutive year. Only 7.92 million babies were born in 2025, down 17 per cent from 9.54 million in 2024 , according to data released by the National Bureau of Statistics on Monday. This marked the lowest birth figure since records began in 1949 and broke the previous record low set in 2023. China's total population also fell by 3.39 million in 2025 to 1.4049 billion from 1.4083 billion a year earlier, the bureau said. By sheer numbers, that marked the steepest annual population decline on record, apart from during China's devastating famine from 1959 to 1961. Meanwhile, about 11.31 million people died last year – one of the highest totals in five decades. "The pace of the decline is striking, particularly in the absence of major shocks," said ...

China's economy grew 5% last year, among slowest in decades

BEIJING: China's economy grew at one of the slowest rates in decades last year, according to official data released Monday (Jan 19), as officials struggle to overcome persistently low consumer spending and a debt crisis in the country's property sector . While the 5 per cent expansion was in line with Beijing's annual target - a low-ball figure analysts have likened to a political comfort blanket - observers warned it was driven largely by exports and masked weak sentiment on the ground. Analysts had forecast 4.9 per cent growth, and the economy grew 5.0 per cent in 2024. Gross domestic product (GDP) in the fourth quarter slowed to a three-year low as domestic demand softened, ⁠and while the full-year pace hit Beijing's target, trade tensions and structural imbalances pose significant risks to the outlook. China's economy grew 4.5 per cent in the fourth quarter from a year earlier, data from NBS showed on Monday, slowing from the ⁠third-quarter's ‍4.8 pe...

China tells Cambodia scam hub disappearances threaten ties

PHNOM PENH: China's embassy in Cambodia said on Saturday (Jan 17) that a recent spate of disappearances of Chinese nationals into cyberfraud compounds poses a "serious obstacle" to the allies' ties. Ambassador Wang Wenbin urged Phnom Penh to strengthen a crackdown on the illicit industry in a meeting with Cambodia's top ministers, a statement on the embassy's WeChat account said. "China is highly concerned about a number of recent cases involving Chinese citizens going missing or disappearing in Cambodia," it quoted Wang as saying. Most of the harmful cases involving Chinese nationals were related to online fraud, Wang said, adding they were "inconsistent with the traditional friendship between China and Cambodia". The Cambodian government has said it is cracking down on the illicit industry, which employs at least 100,000 people in the Southeast Asian country, according to United Nations figures. Initially largely targeting Chinese s...

China halts soy imports from Brazil plants, pivots to US amid food safety probe

China has halted imports of soybeans from five Brazilian exporters after inspectors found pesticide-treated wheat mixed into a cargo bound for Beijing, officials from both countries said on Thursday. The suspension by China's General Administration of Customs was communicated to Brazil's agriculture ministry on Wednesday and made public on Thursday. The ban cover s two Cargill facilities and one plant each run by Louis Dreyfus Co., CHS Agronegocios and 3Tentos Agroindustrial. Four of the plants are in Sao Paulo state. One is in Rio Grande do Sul. Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge , our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. Inspectors in China discovered the contamination during checks at a port. The ship Shine Ruby was carrying about 69,000 tonnes of soybeans. Inside the hold, they found roughly ten tonnes...

IN FOCUS: How geopolitics is reshaping a China-Russia border town’s local economy

Russia's economy has been dominated by energy, raw materials and heavy industry, while light manufacturing - clothing, household goods, consumer electronics - lags behind China's capacity - a contrast repeatedly noted by international institutions like the World Bank and Organisation for Economic Co-operation and Development (OECD). But advantage no longer guarantees sales, said Zhou. Visitor numbers never fully recovered after the pandemic and the outbreak of the Ukraine war. "Even after visa-free travel started, arrivals haven't come back the way people hoped," he said. "There are barely any customers." The slowdown is reflected in rental prices. A local tailor, identified only by his surname Wang, said monthly rent once peaked at about 500,000 yuan during the boom years. Today, after renegotiations and landlord concessions, it remains below 30,000 yuan. "The size of the rent cut mirrors the drop in sales," he said. "Those who do c...

China ends 2025 with record $1.5 trillion trade surplus despite Trump tariffs

BEIJING - China on Jan 14 reported a strong export run in 2025 with a record trillion-dollar surplus, as producers braced themselves for three more years of a Trump administration set on slowing the production powerhouse by shifting US orders to other markets. Beijing's resilience to renewed tariff tensions since US President Donald Trump returned to the White House in January 2025 has emboldened Chinese firms to shift their focus to South-east Asia, Africa and Latin America to offset US duties. With Beijing looking to exports to counteract a prolonged property slump and sluggish domestic demand, the record-shattering surplus risks further unsettling economies concerned about China's trade practices and overcapacity, as well as their over-reliance on key Chinese products. The manufacturing powerhouse's full-year trade surplus came in at US$1.19 trillion (S$1.5 trillion) – a figure on a par with the gross domestic product of a top 20 economy globally like Saudi Arabia ...

China vows tighter market oversight as stock benchmark nears decade high

SHANGHAI: China's securities regulator vowed to step up market monitoring and crack down on excessive speculation, as the country's benchmark stock index hovered near a decade high with record turnover this week. The statement came after Chinese bourses said on Wednesday (Jan 14) that they would raise the minimum margin requirement for new borrowings to 100 per cent from 80 per cent, effective Jan 19, a move approved by the regulator and aimed at cooling the red-hot market. The Shanghai Composite Index has gained 6 per cent over the past month. The China Securities Regulatory Commission said in a statement it would carry out timely counter‑cyclical adjustments and strengthen supervision over trading activities and information disclosure. The regulator also said it will crack down on illegal activities such as excessive speculation and market manipulation, aiming to sustain the market's positive momentum. Recent weeks have seen hectic trading in sectors such as artific...

China's viral app 'Are You Dead' tops download chart and goes global, as critics call for name change

A mobile application, bluntly named Are You Dead, has gone viral in China, topping Apple's App Store charts for paid apps there over the past weekend. Priced at 8 yuan (about S$1.50), the app – which reads as Sileme in hanyu pinyin – is aimed at China's rapidly expanding population of older residents and young singles who live alone. It prompts users to check in once a day by pressing a large green button.  If they fail to do so for more than two consecutive days, the app automatically notifies by email an emergency contact nominated by the user. China's English-language newspaper Global Times reported that the app downloads spiked in recent days and it has gone viral on Chinese social media, with many short videos discussing it. The heated debate was over its controversial and morbid name rather than its function. This stemmed from the common belief among the Chinese that using a product with such a grim and unpleasant name would bring ill luck and lead to the user...

China’s US$1.2 trillion windfall quietly seeps into global markets

For a world already uneasy over the huge imbalances in trade, another outcome is a global financial system increasingly reliant on liquidity sourced from the Asian country A RECORD trade surplus racked up by China is washing up around the world, as export earnings that once ended up in state coffers instead fund massive private purchases of overseas securities and business expansion abroad. Rather than leaving most of last year's US$1.2 trillion windfall in the hands of the central bank, some two-thirds of the foreign assets sourced primarily from global trade ended up with companies, individuals and state lenders. That brings with it the risk of a sudden capital reversal that China does not immediately control, especially in a world where the yuan is allowed to strengthen. Investors comprising China's so-called non-official sector saw their holdings of assets abroad soar by more than US$1 trillion in the first three quarters of last year, according to the latest available d...

Villagers shiver in China’s north as government gas subsidies shrink

BAODING, China--As the dry, freezing winter air envelops his home, 72-year-old farmer He Wenxiang sits on a bed wearing several layers of clothing including a black fur-collared jacket and a cap. He takes ⁠a thermometer off the wall that reads about 14 degrees Celsius (57 degrees Fahrenheit). Despite outside temperatures ‌of minus 1 C (30 F), He runs ‍his gas boiler only occasionally to warm up the radiator in his bedroom. "Life isn't easy," he said. "If any colder you couldn't take it." He is one of several people in his village outside the city of Baoding, in China's Hebei province south of Beijing, choosing to barely heat their homes because of rising natural gas prices after cash-strapped governments scaled back subsidies designed to drive a transition to clean energy. In another village nearby, a woman who only ‍gave her surname Song stands in the ​sun in an alleyway selling used electronics...

Taiwan Endures Greater Cyber Pressure From China

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China's car exports surged in 2025, but domestic demand slowed

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Taiwan issues arrest warrant for CEO of OnePlus over China hires

TAIPEI – Prosecutors in Taiwan issued an arrest warrant for the chief executive officer (CEO) of the Chinese smartphone company OnePlus, stepping up the island's efforts to block China's tech players from recruiting Taiwanese talent.  The Shilin district prosecutors office issued the warrant for CEO and co-founder Pete Lau and indicted two Taiwanese citizens who worked for him, according to an indictment by the office. OnePlus, a niche player whose phones run on a customised version of Android, is suspected of illegally recruiting more than 70 engineers in Taiwan. The autonomous territory has stepped up its efforts to stop Chinese companies from raiding workers, who are often coveted because of their technical knowledge and experience. The Taiwanese officials put such limitations in place because they say recruiting from the semiconductor sector and other tech operations could jeopardise national security.  In 2024, Taiwanese investigators raided 34 locations on the islan...

As Trump notes prospect of China attacking Taiwan, understanding why the island matters to the US

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China's consumer inflation scales 3-year high but deflation battle far from over

BEIJING: China's annual consumer price inflation accelerated to a 34-month high in December, but the full-year rate slumped to the ⁠lowest in 16 years while producer deflation persisted, backing market expectations for more stimulus to shore up soft demand. Imbalances in the US$19 trillion economy have worsened over the past year, even as growth is on course to meet Beijing's target of "around 5 per cent" for 2025, buoyed by policy support and resilient goods exports. US President Donald Trump's global trade war has added to persistently soft consumer demand, which has remained a drag on confidence and growth for years amid a prolonged property crisis. The December consumer price index (CPI) rose 0.8 per cent from the same month in 2024, National Bureau of Statistics (NBS) data showed on Friday (Jan 9), matching expectations ‍in a Reuters poll and perking up from the ⁠0.7 per cent ‍increase in November. The rise was mainly driven by food prices, especially th...