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…
The world’s largest hedge fund, Bridgewater Associates, sold all of its holdings in US-listed Chinese companies in the second quarter, marking a decisive retreat from the market as geopolitical tensions and shifting investor sentiment clouded the outlook for the world’s second-largest economy. The fund exited positions in 16 Chinese stocks, which were worth US$1.41 billion…
Hong Kong rail giant the MTR Corporation has reported a 15.7 per cent drop in recurrent-business profit to HK$3.39 billion in the first six months of this year from the same period in 2024 due to higher operating costs. After taking into consideration property gains and losses from a one-off revaluation of investment properties, the…
China’s naval expansion continues to surprise onlookers. Less visible, until now, have been developments in underwater drones. That is about to change with an upcoming military parade in Beijing in September. Two new extra-large drone submarines (XLUUVs) will be showcased. China seeks a strategic advantage in underwater drone technology. While the surface navy is playing…
The collision of two Chinese vessels in the South China Sea this week was dramatic — and, according to China watchers, predictable. For years, China’s military, coast guard, and maritime militia have been accused of using aggressive tactics such as close-range intercepts, blocking runs, chases, and water cannon harassment to assert control over contested waters….