The number of newly established private companies in China grew by 7.1 per cent in the first quarter from a year earlier, in what is being seen as a sign of resilience as the private sector bears the brunt of the fallout from the US-China trade war. Advertisement Nearly 1.98 million private firms were registered in the first three months of the year – a growth pace higher than the average in the past three years, China’s top market regulator announced on Monday. This reflects the “strong resilience” of China’s…
Day: April 21, 2025
End of the road for India’s BluSmart?
This article is an on-site version of the India Business Briefing newsletter. To receive it in your inbox regularly, sign up if you’re a premium subscriber, or upgrade your subscription here. Good morning. US vice-president JD Vance, who is on a four-day trip in India, met Prime Minister Narendra Modi in Delhi yesterday. They “welcomed the significant progress” in the negotiations for the India-US bilateral trade agreement, but did not share any specific details. In today’s newsletter, we look at why Indian retail investors are hitting pause on their monthly investments.…
Mapping the mind: Chinese and French scientists advance on neural origins of consciousness
Chinese and French scientists have developed an extremely detailed blueprint of the crab-eating macaque’s claustrum, an elusive brain region believed to play a role in consciousness. Advertisement The detailed map of connections between nerve cells in the macaque claustrum and the rest of the brain could help us understand how this region and its different cell types play a role in cognitive functions, such as memory integration and abstract thinking. The team also revealed significant differences in the structure and cell types of macaque and rodent claustrums, which could provide…
Nomura to buy Macquarie’s US and European asset management units for $1.8bn
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Nomura has agreed to buy Macquarie’s US and European public asset management business as part of its strategy to take advantage of a generational shift in Japanese investment habits. The $1.8bn all-cash deal, which is expected to close by the end of the year, will entail Nomura buying a business with about $180bn in assets under management across equities, fixed income and multi-asset strategies. The acquisition will expand Nomura’s existing…
US finalises tariffs on Southeast Asian solar imports
US trade officials finalised tariff levels on solar cells and panels from Southeast Asia, a key step towards wrapping up a year-old trade case brought by American manufacturers that accuse their overseas rivals of flooding the market with unfairly cheap goods. Advertisement The decision comes after the Commerce Department last year imposed preliminary anti-dumping and anti-subsidy countervailing duties on solar equipment from Malaysia, Cambodia, Thailand and Vietnam. The case was brought by Korea’s Hanwha Qcells, Arizona-based First Solar Inc, and several smaller producers seeking to protect billions of dollars in…
PHOTOS: Pope Francis and his many travels to the Asia-Pacific region
Asia is mourning the passing of Pope Francis on Monday, who died aged 88 after a 12-year papacy. He had traveled extensively across Asia since becoming leader of the world’s 1.3 billion Catholics in 2013. During his visits, Francis drew large crowds in countries such as the Philippines, which is predominantly Catholic, but also Indonesia, Bangladesh and Thailand where Muslims and Buddhists were in the religious majority and Catholics were in the minority. He also visited South Korea, Japan, Sri Lanka, Myanmar, Timor-Leste and Singapore. Here are moments captured during…
Chinese robotics star Unitree opens Hangzhou factory amid humanoid frenzy
Chinese humanoid robot maker Unitree Robotics has opened a new factory in Hangzhou as it races to meet soaring demand amid China’s craze for the human-shaped machines. Advertisement The factory, launched earlier this year, spans over 10,000 square metres, and it is expected to support the company’s expansion over the next three to five years, according to the company. “We won’t expand production blindly,” Unitree’s marketing director Huang Jiawei told the South China Morning Post in a recent interview. “Instead, we’ll enhance capacity by increasing working hours and efficiency.” The…
China sets ‘critical’ rules to corral safe self-driving EVs after Xiaomi’s fatal crash
An organisation representing China’s biggest carmakers has urged its members to enhance driving safety and avoid exaggerating the capabilities of their self-navigating systems, following a fatal crash involving Xiaomi’s SU7 electric vehicle (EV) last month. Advertisement Carmakers should improve product safety designs and develop effective warning systems to alert drivers, the China Association of Automobile Manufacturers (CAAM) said on Monday in a joint statement with the China Society of Automotive Engineers. The groups outlined several initiatives to guide carmakers in standardising the promotion and application of driver-assistance systems. The country’s…
FirstFT: China cuts off new investment in US private equity
This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia, Europe/Africa or Americas edition to get the newsletter delivered every weekday morning. Explore all of our newsletters here Good morning and welcome back to FirstFT Asia. In today’s newsletter: China pulls back from US private equity investments CATL’s battery breakthrough The legacy of Pope Francis Chinese state-backed funds are cutting off new investment in US private equity, according to several people familiar with the situation, in the latest salvo against President Donald Trump’s…
Chinese universities are dominating global research on chips, US report says
As the United States continues to tighten restrictions on chip exports to China in a bid to curb the country’s access to advanced semiconductors, Chinese researchers have gone into overdrive. Advertisement In recent years, Chinese universities have been leading the world in research on chip design and fabrication. And they are producing much of the basic research that could influence next-generation semiconductor technology – and position China ahead of the pack. From 2018 to 2023, nine of the top 10 biggest producers of English-language research on chips were Chinese institutions,…