Swiss watchmaker Swatch has issued an apology for a “slant eye” promotional image that has triggered strong criticism on Chinese social media, with the gesture widely considered offensive to Asians. In statements posted to Instagram and China’s Weibo on Saturday, the Swatch Group sought to “sincerely apologise for any distress or misunderstanding this may have…
Aug 17, 2025 China’s stock market, valued at $11 trillion, has failed to incentivize consumer spending due to poor equity returns over the past decade, according to a Bloomberg report. A $10,000 investment in the S&P 500 Index a decade ago would now have more than tripled, while the same amount in China’s CSI 300…
BEIJING (Reuters) -At least nine people died in a flash flood in northern China, state media reported on Sunday, with three others still missing, as the East Asian monsoon continues to unleash atmospheric chaos across the world’s second-largest economy. The banks of a river running through the grasslands of Inner Mongolia burst at around 10…
Some Chinese universities appear to have distanced themselves from a US researcher invited to their events, after social media users in China took aim at his past remarks on Xinjiang and demanded an explanation from the institutes. The latest in the line of fire is Central South University in Changsha, Hunan province. It has faced…
China is requiring its data centres to use more home-grown computing chips in a move that underscores Beijing’s accelerated efforts to cut reliance on foreign technology as the US tightens export controls. Publicly owned computing hubs across the country have been asked to source more than 50 per cent of their chips from domestic producers…
President Trump said Chinese President Xi Jinping assured him the People’s Republic will not invade Taiwan while Trump is in office. Trump make the remarks during an interview Friday with Fox News’ “Special Report,” ahead of his sit-down in Alaska with Russian President Vladimir Putin over Moscow’s war in Ukraine. “I will tell you, you know, you…
Hong Kong’s Stablecoins Ordinance marks a significant milestone, as cross-border payments using the cryptocurrency can facilitate trade-finance flows between Hong Kong, mainland China and global markets such as the Middle East, according to the CEO of Zand, an AI-powered fintech and financial-services group in the United Arab Emirates (UAE). Future development under the ordinance could…
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. The No 1 typhoon signal will remain in force in Hong Kong at least until noon on Sunday, while the weather forecaster…
At the heart of why consumers in China save so much and spend so little, and why Xi Jinping and Donald Trump will struggle to change that behavior even if they want to, lies the country’s stock market. Even after a recent rally, Chinese indexes have only just returned to levels seen in the aftermath…
Designer Raechel “Rae” Temily tells me a funny story about how her eponymous womenswear brand came to be. “A year before I launched, I was wearing one of the very first prototypes of a [Temily] jumpsuit and ended up in the elevator with Gabriela Hearst,” she remembers. Her creation caught the designer’s eye and elicited…