Day: May 24, 2025

Shanghai’s high-end property market continues to buck the national downturn, with deep-pocketed buyers pouring capital into top-tier homes that are seen as value-preserving assets despite economic uncertainty, analysts said. Advertisement Buyers snapped up all 64 units offered at One Central Park, a luxury development in the city’s core Huangpu district, on Wednesday, spending 4 billion yuan (US$556 million). Developed by Sunac China Holdings, Citic Group and Xinhu Group, the project is located in the city’s Xintiandi shopping and entertainment area. The flats in the sale were priced at an average…

A Chinese electromagnetic coil gun capable of firing at 3,000 rounds per minute – a rate that obliterates traditional firearms and greatly surpasses US commercial models by orders of magnitude – has been captured on video. Advertisement The footage, released by state-owned arms manufacturer China South Industries Group (CSGC) on April 18, has raised eyebrows among military experts as the firing capacity greatly outstrips current weaponry and could redefine future combat. While the CSGC remained tight-lipped about the technology involved, a peer-reviewed paper published on Monday by a team of…

For several years, Chinese officials have been talking about “changes unseen in a hundred years” without elaborating what they have in mind. Looking at the drastic changes to the world order since Donald Trump returned to the White House, one can only conclude that the Chinese have spoken with uncanny prescience. Advertisement There have indeed been many changes to the international system in recent years, starting with a rapid deterioration of US-China relations since Trump’s first term as US president. A body of opinion was formed in political circles that…

Amap, the mapping and local services business under Alibaba Group Holding, has introduced a ride-hailing feature on the platform’s English version, allowing foreign visitors in mainland China to get transport in more than 360 domestic cities. Advertisement The new feature, which comes months after Amap’s English-language version was launched in February, is accessible via a button on the homepage. Initially, the app will accept users’ registered mainland, Hong Kong and Macau phone numbers. Payments can be made via Ant Group’s Alipay and Tencent Holdings’ WeChat Pay, China’s two dominant digital…

Beneath the swaying palms of Hainan, China’s tropical southernmost island province, a quiet revolution is unfolding. Advertisement In the secluded town of Lecheng, a 50-year-old woman sits in a sunlit hospital room, her gaze steady as a nurse administers an injection that could rewrite her future. Diagnosed with early-stage lung cancer, she is among the first patients in China to receive the LK101 injection – a personalised mRNA vaccine designed to slash the risk of relapse. Lecheng, an enclave covering 20 sq km (7.7 square miles) on Hainan’s eastern coast,…

America’s next-generation fighter jets and their “loyal wingmen” drones could counter China’s fleet size advantage and widen the operational range for a potential conflict in the Indo-Pacific, according to analysts. Advertisement But they also say that China is catching up in this area of military technology, and the gap is “narrowing”. General David Allvin, chief of staff of the US Air Force, posted a photo of the YFQ-42A unmanned combat aerial vehicle on social media on Monday in the “world’s first look” at the UCAV. The drone is part of…

Chinese Vice-Premier He Lifeng met senior executives from two major US financial institutions amid Beijing’s latest push to assure and attract American investors as its trade war with Washington heated up. Advertisement State news agency Xinhua reported that He met Citigroup’s chairman John Dugan and Carlyle Group’s chief executive Harvey Schwartz separately in Beijing on Friday, saying: “China’s economy has continued its notable rebound, while high-quality development efforts are resulting in solid progress, demonstrating strong resilience and great vitality.” He added that China welcomed investment from foreign firms and would…

A team of Chinese scientists has passed a milestone in underwater communication, enabling error-free acoustic data transmission across 600km (375 miles) of ocean – roughly the distance between Taipei and the US military base in Okinawa. Advertisement The feat, detailed in a May study published in Acta Acustica, China’s premier acoustic journal, marks significant progress that could pave the way for the real-life use of long-range undersea messaging, a field with profound civilian and military applications. While whales can exchange low-frequency songs over 8,000km, and a United States Navy experiment…

At a military equipment expo held in China’s capital last week, it was hard to miss a lavish exhibition area staged by a Beijing company that attracted plenty of interest, including Chinese military personnel dressed in plain clothes, seeking procurement deals. Advertisement Among the more prominent vendors was Beijing VRV Software Corporation, which had more than a dozen display boards showcasing the company’s various products, all of which had one thing in common: confidential equipment and technology Beijing VRV Software is part of a rapidly growing industry that has flourished…

China’s top cybersecurity watchdog, in coordination with financial regulators, has shut down over a dozen social media accounts for spreading false financial information, illegally touting stocks, and promoting speculative cryptocurrency trading, according to authorities. Advertisement The Cyberspace Administration of China (CAC) said on Saturday that the accounts had operated on China’s most popular social media platforms, including Weibo, Douyin, RedNote, and WeChat. The CAC said some accounts had spread false or misleading information about the capital markets, while others had lured investors into paid groups with provocative claims, illegally touting…