US approves China-invented painkiller that could reduce fentanyl overdoses

The US Food and Drug Administration (FDA) has approved the first China-invented painkiller designed as a non-opioid alternative, giving it the potential to curb fentanyl-related overdose deaths. Advertisement Qamzova, developed by Nanjing-based biotech firm Delova, is the world’s first long-acting injectable analgesic – offering 24-hour pain relief through a single daily injection and marking a milestone for China’s growing pharmaceutical industry. The non-steroidal anti-inflammatory (NSAID) medication belongs to the same group of painkillers as aspirin and ibuprofen. It contains a high concentration of meloxicam, a compound commonly used to reduce…

China’s local governments must now justify big jumps in fines, charges on private firms

Local governments in China will have to explain any fines on companies if their total rises by more than 20 per cent year on year. Advertisement The order from Beijing is part of central government efforts to stamp out illegal investigations and profit-seeking targeting private enterprises. It is also part of the government’s latest economic recovery efforts that kicked off in March. The order targets four major issues: arbitrary fines and inspections; unlawful enforcement and profit-driven behaviour; inconsistent enforcement standards that burden enterprises; and abuse of power. “These problems are…

China’s space ambitions ‘forcing’ Washington’s Golden Dome strategy: commander

The head of US Space Command has warned that China’s expanding arsenal of anti-satellite weapons is forcing Washington to accelerate defences in orbit, calling the threat “real” and immediate, amid growing scrutiny of President Donald Trump’s proposed missile shield. Advertisement General Stephen Whiting told a public forum in Chicago on Thursday that the ambitious defence system known as the Golden Dome was a response to how China has spent the past three decades preparing to target American space infrastructure. “They have built capabilities to hold at risk our space systems,”…

‘Prepare for the worst’: China minds, on guard against US punches, stress need for talks

Trade upheaval resulting from the tariff war ignited by US President Donald Trump last month appears to have cast a long-lasting impact on the mindset of Chinese policy influencers, with thoughts of “preparing for the worst” spreading at a forum in Beijing on Thursday. Advertisement With exporters rushing to secure US-bound shipments during the 90-day truce period, many ex-official and policy advisers have urged the government to guard against any future barrage of American punches, and to also rally the support of major trading partners and forge stronger relations with…

China deploys water cannon in Spratlys clash with Philippines over Sandy Cay

Tensions between Beijing and Manila in the disputed South China Sea have intensified after another confrontation near Sandy Cay, this time involving the use of water cannon and a collision. Advertisement The Chinese coastguard said on Thursday that it had implemented the water cannon a day earlier as a control measure, against two Philippine vessels which it said had illegally intruded into waters near Subi Reef and Sandy Cay in the Spratly Islands. According to the coastguard statement, the Philippine vessels landed personnel on Sandy Cay and, ignoring repeated warnings,…

Japan inflation climbs at fastest rate in more than 2 years

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Japan’s core inflation rate climbed at its fastest rate in more than two years in April, piling pressure on the Bank of Japan as it seeks to normalise the country’s interest rates and the unpopular government of Prime Minister Shigeru Ishiba. Core inflation, which excludes fresh food but includes energy prices, rose 3.5 per cent on a year earlier last month, official data showed on Friday, exceeding the 3.2 per…

BYD overtakes Tesla in Europe for the first time as battery EV sales jump 169% in April

BYD sold more battery electric vehicles (BEVs) than market leader Tesla in Europe for the first time last month, as the Chinese carmaker continued to make inroads despite hefty tariffs on cars imported from the mainland. Advertisement Shenzhen-based BYD, which also makes plug-in hybrids (PHEVs), sold 7,231 BEVs in April, a year-on-year increase of 169 per cent, according to data compiled by market research firm Jato Dynamics from 28 countries in Europe. Tesla’s sales fell 49 per cent to 7,165 units in the same period. “Although the difference between the…

JPMorgan’s Jamie Dimon to ‘deepen engagement’ with China

Stay informed with free updates Simply sign up to the US-China relations myFT Digest — delivered directly to your inbox. JPMorgan chief executive Jamie Dimon has vowed to “deepen” the bank’s engagement with China, according to a state media account of a meeting between the banker and senior Chinese officials that included Beijing’s top trade negotiator. The meetings came weeks after Beijing and Washington agreed to cut respective tariffs by 115 percentage points for 90 days, a marked de-escalation of trade tensions. Dimon’s comments can be seen as a further…

India corners Maoist rebels after decades-long struggle

Indian communist rebel Nambala Keshava Rao was one of the country’s most wanted men, but few images of him are publicly available.  A photograph from his college days, before he went underground in the 1970s to join what is known as the Naxalite movement, shows an intense, bearded young man in a striped shirt. This week, Indian authorities released a new image, showing the 69-year-old Rao, with grey stubble, lying on a forest floor and apparently dead. The revolutionary’s death marked a moment of triumph for Prime Minister Narendra Modi’s…

China-Thailand meeting yields agreement on strategic cooperation and military exercises

Senior military officials from China and Thailand reached “important consensus” on strategic cooperation when they met on Thursday, according to the defence ministry in Beijing. Advertisement The meeting was held between China’s chief of joint staff, Liu Zhenli, and Thailand’s top defence official, Songwit Noonpackdee, during his visit to the Chinese capital. The two military leaders “reached important consensus on strengthening strategic communication and deepening cooperation in joint exercises and training”, according to a readout on Thursday. They also “exchanged views on issues of common concern, such as relations between…