China’s online transactions saw a remarkable increase in both volume and value during the just-concluded Spring Festival holiday, data from the People’s Bank of China (PBOC) showed on Tuesday. From Feb 15 to 23, Chinese online payment-clearing house NetsUnion Clearing Corporation and card payment giant China UnionPay processed approximately 39.3 billion online transactions totaling 13.12…
Good morning and welcome back to FirstFT Asia. In today’s newsletter: Shein’s mysterious founder emerges China hits Japanese companies with export curbs Trump’s Iran ‘crisis of his own making’ We start in Guangzhou, where the mysterious founder of fast-fashion giant Shein used his first major public appearance yesterday to stress the company’s Chinese roots. What…
Iran is nearing a deal with China to acquire CM-302 anti-ship cruise missiles, aiming to enhance its military capabilities. The missiles, which have a range of 290 kilometers and are designed to evade ship defenses, could pose a serious threat to US naval forces in the region, Reuters reported on February 24. The potential sale comes amid heightened tensions between the US and Iran, with China asserting its role in the…
NEWYou can now listen to Fox News articles! Iran is nearing a deal with China to acquire supersonic anti-ship cruise missiles, a move that could significantly raise the stakes in the Middle East as U.S. carrier strike groups assemble within striking distance of the Islamic Republic. Reuters reported Tuesday that Tehran is close to finalizing…
Iran is close to finalising a deal with China to purchase advanced anti-ship cruise missiles, Reuters reported, citing six people with knowledge of the negotiations, at a time when the United States is deploying significant naval forces near the Iranian coast amid escalating tensions.The proposed deal involves the Chinese-made CM-302 supersonic anti-ship missiles, which have…
An Australian naval warship sailed through the South China Sea despite warnings and monitoring by Chinese forces, highlighting ongoing tensions over freedom of navigation in one of the world’s most strategically contested waterways, according to reporting by the UK Defence Journal on February 24. The Royal Australian Navy’s Anzac-class frigate HMAS Toowoomba conducted what Canberra described as a routine and lawful transit through the region on February 12. We…
A new front has opened in the global AI race, and this time the issue is not innovation but theft, national security and geopolitical rivalry. Anthropic has publicly accused three Chinese AI firms –DeepSeek, Moonshot AI and MiniMax — of orchestrating what it described as coordinated “distillation attacks” on its flagship model, Claude. The claims…
Tesla’s (TSLA) Europe woes are only getting worse, just as Chinese rival BYD’s (BYDDY) fortunes soar there. According to the European Automobile Manufacturers’ Association (ACEA), Tesla electric vehicle registrations (a proxy for sales) in Europe fell to just 8,075 units in January, a 17% drop compared to a year ago. Meanwhile, total EV registrations in…
Apple CEO Tim Cook was among a handful of top tech executives who attended a classified CIA briefing warning that China could attack Taiwan by 2027, according to a sweeping investigative report by The New York Times ($). The previously unreported briefing was apparently held in a secure room in Silicon Valley in July 2023….
Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email China‘s recent nine-day Lunar New Year holiday has delivered a significant boost to domestic travel and consumer spending, successfully fulfilling government hopes that an extended break would encourage households to explore,…