China issued its highest storm warning on Thursday, as Super Typhoon Saola edged closer to the south of the country, threatening Hong Kong and the manufacturing hub of Shenzhen. The southern provinces of Guangdong and Fujian also issued warnings as the powerful storm approaches. The National Meteorological Centre issued the red alert at 6am, saying the typhoon was expected to move northwest across the South China Sea at 10km/h and make landfall between Huilai in Guangdong and Hong Kong on Friday afternoon or evening. It said strong winds and storms…
Month: August 2023
Cleverly’s humiliating China visit was the perfect symbol of isolated, ill-led ‘global Britain’ | Simon Tisdall
Like a proselytising lay minister naively intent on calming troubled waters, foreign secretary James Cleverly flew into Beijing this week on a whinge and a prayer. The whinge comprised a long list of British grievances ranging from China’s attitude to Ukraine and Hong Kong to its spying on UK officials and sanctions on MPs. Cleverly’s prayer was that his hosts would not realise that, when it comes to pursuing a coherent China policy based on deliberate, principled choices backed by political will and economic muscle, rudderless Britain is all at…
Chinese tech companies launch AI chatbots to public
What is included in my trial? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. For a full comparison of Standard and Premium Digital, click here. Change the plan you will roll onto at any time during your…
China’s giant rice hybrid yields bumper harvest in what could be ‘game-changer’ for food security
China’s “giant rice” hybrid, which can grow twice as tall as conventional varieties, experienced a bumper harvest this month, and its high yields could make it an important tool in Beijing’s food security drive. Lu Xiwan, a farmer in Guangxi Zhuang autonomous region, planted 13.3 hectares of the rice variety this year and obtained a yield of 2,200-3,000kg (4,850-6,614lbs) more rice per hectare (2.5 acres) compared to previous years, according to state news agency Xinhua. China News Service reported on August 19 that giant rice was capable of producing yields…
Safe-as-houses Country Garden posts record loss
Long considered safer than its embattled property-developer rivals, Chinese property developer Country Garden has revealed a record U.S.$6.7 billion loss for the first six months of this year. The property company said it would raise U.S.$34 million by issuing 350 million shares at less than HK$1 (U.S.$0.13) on Wednesday to pay Hong Kong-based Kingboard Holdings Limited money it owes. Country Garden’s total debt for the first six months of this year is U.S.$187 billion. It’s widely seen to be teetering on the brink of outright collapse. The company said in a…
BYD makes its move and China suppliers go easy on hiring
Hello, everyone, this is Akito in Singapore. Tesla has long said that its mission is to “accelerate the world’s transition to sustainable energy”. Undoubtedly, the US electric vehicle maker, which celebrated its 20th anniversary this year, has made major strides towards this goal. But even a company as successful as Tesla can’t achieve a global shift of this magnitude all by itself. One company can’t meet the rapidly increasing demand for EVs worldwide. Tesla’s ambitious chief executive, Elon Musk, has long been aware of this. In an interview with Nikkei…
Former Hong Kong Cantopop Star Jailed for Sedition
HONG KONG — A Hong Kong singer turned democracy activist was jailed for more than two years on Thursday after pleading guilty to sedition and money laundering. Tommy Yuen, a former member of the Cantopop boyband “E-Kids,” became an outspoken supporter of the Chinese city’s democracy protests in 2019, before Beijing cracked down on the movement and imposed a national security law. Authorities have also recently used the long-dormant offence of sedition, created under British colonial rule, to jail protesters and activists. Judge Ernest Lin said Thursday Yuen caused “harm…
China aviation: China Southern, Air China and China Eastern trim losses on domestic travel rebound
China aviation: China Southern, Air China and China Eastern trim losses on domestic travel rebound China’s three largest airline companies reported significantly narrower losses for the first half of 2023 as Beijing’s lifting of Covid-19 restrictions late last year unleashed pent-up demand for domestic travel. China Southern Airlines said its net loss fell 75 per cent to 2.88 billion yuan (US$395 million) in the six months to June 30, compared with the same period a year earlier. First-half losses at flag carrier Air China shrank to 3.45 billion yuan from…
Chinese airlines extend losses despite end of pandemic curbs
Receive free Airlines updates We’ll send you a myFT Daily Digest email rounding up the latest Airlines news every morning. China Eastern Airlines has extended its three-year lossmaking streak as international travel to and from the country remains depressed despite the removal of pandemic travel restrictions. China Eastern, one of the country’s three largest carriers, reported a net loss of Rmb6.3bn ($864mn) for the first six months of the year, improving from a loss of Rmb18.7bn in the same period last year. Revenue increased from Rmb19.4bn to Rmb49.4bn. The subdued…
Chinese carriers extend losses despite end of pandemic curbs
Receive free Airlines updates We’ll send you a myFT Daily Digest email rounding up the latest Airlines news every morning. China Eastern Airlines has extended its three-year lossmaking streak as international travel to and from the country remains depressed despite the removal of pandemic travel restrictions. China Eastern, one of the country’s three largest carriers, reported a net loss of Rmb6.3bn ($864mn) for the first six months of the year, improving from a loss of Rmb18.7bn in the same period last year. Revenue increased from Rmb19.4bn to Rmb49.4bn. The subdued…