Month: May 2025

5 Chinese firms seek Hong Kong IPOs, joining fundraising flurry

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Five mainland companies have filed preliminary listing applications with the Hong Kong stock exchange to raise capital, joining the flurry of Chinese start-ups that have pushed the city to the top of the global rankings for initial public offerings (IPOs). Advertisement The pack was led by Shenzhen-listed Muyuan Foods, one of the world’s largest hog breeders and pork producers, which could raise up to US$1 billion through a secondary listing. The firm has named Morgan Stanley, CLSA and Goldman Sachs as the overall coordinators of its proposed stock sale to…

Geologically complex regions more prone to landslides, study suggests

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We know that steep slopes and heavy rain help to trigger landslides, but are some types of landscape more susceptible than others? A study suggests that geologically complex regions are more likely to produce landslides. Yifan Zhang, from the Institute of Mountain Hazards and Environment in Chengdu, China, and colleagues developed an index of geological complexity that combines four different geological components: lithologic complexity (number of different rock types per unit area); tectonic complexity (density of faults); seismicity (probability of earthquake activity); and structural complexity (how disordered the rock structures…

‘Anti-feminist’ candidate woos young voters in South Korean poll

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A young antifeminist rightwinger has emerged as a fresh obstacle to South Korea’s embattled conservatives retaining power in next week’s presidential election. Lee Jun-seok, 40, a Harvard graduate who once served as the youngest ever chair of the ruling People Power party, is polling in third place after standing as the candidate of his own breakaway conservative faction, the Reform party. He has fiercely criticised his previous party for its…

China plans to upgrade IT manufacturing, boost self-sufficiency

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China has unveiled a detailed plan to upgrade its information technology (IT) manufacturers as it doubles down on achieving self-sufficiency in technologies including semiconductors, batteries, satellite navigation and artificial intelligence (AI), and sidestepping US tech curbs. Advertisement The 18-point action plan calls for the deepening of AI integration and the fostering of a new class of industry service providers by 2027. It aims to see more than 85 per cent of manufacturers using computer numerical control – in which computer programs automate machining – in key processes in the next…

PLA attack on Taiwan ‘unlikely’ but ‘not impossible’ with Trump in White House

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A People’s Liberation Army attack on Taiwan is “unlikely in the near future” but “not impossible”, given the risks of misperception and miscommunication with the United States under President Donald Trump, a British think tank has warned. Advertisement The US–China relationship is “more strained than it has ever been at any other point in the 21st century”, according to the London-based International Institute for Strategic Studies (IISS), which published its latest Asia-Pacific Regional Security Assessment on Wednesday. The release of the report’s 2025 edition comes ahead of this week’s Shangri-La…

Temu’s Chinese owner sees profits plunge as trade war bites

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PDD Holdings, the Chinese owner of online shopping platform Temu, has reported a near 50% drop in profit as US President Donald Trump’s trade policies added to its struggles in its home country. US-listed shares of the e-commerce giant fell by more than 13% on Tuesday, after the firm said its profits for the first three months of the year fell to 14.74bn yuan ($2.05bn , £1.5bn). Earlier this month, the Trump administration ended the so-called “de minimis” exemption that allowed parcels worth less than $800 (£593) enter the US…

Elon Musk Hyperloop ride can be ‘extremely unpleasant’: China project scientists

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Chinese scientists claimed to have solved a critical flaw in the futuristic vision of ultra-high speed ground travel, potentially salvaging vacuum-tube maglev technology and casting new light on the challenges faced by Elon Musk’s Hyperloop concept. Advertisement A study published by China’s peer-reviewed Journal of Railway Science and Engineering on May 16 showed that even minor imperfections – such as uneven coils or bridge deformations – would turn a journey into an ordeal, even in near-airless tunnels. But the engineers – who are working at the world’s first full-scale test…

India offers US ‘deep’ tariff cuts, but shields grain and dairy markets

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. India has offered “deep” cuts to its import tariffs on a swath of goods in talks with the US, but is seeking to retain its high levies on sensitive agricultural commodities such as foodgrains and dairy products, according to two people with knowledge of the negotiations. The government of Prime Minister Narendra Modi is racing to secure a preliminary trade agreement with the US to forestall President Donald Trump’s threatened…

More than a show: China’s robot fights offer ringside view of tech advancements

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They dance, they run, they punch – but they never break a sweat or flinch in pain. Advertisement China’s humanoid robots are increasingly entering human arenas, participating in real-world sports competitions that expose them to unpredictable, complex environments – and, as analysts note, generate valuable data to advance their development. On Sunday, the world’s first kickboxing contest featuring humanoid robots kicked off in the eastern city of Hangzhou. Four Unitree G1 robots – donning helmets and boxing gloves to resemble human fighters – unleashed a volley of blows with speed…