G-2 style reset? How US-China trade talks may shift after AI chip curbs eased

The United States’ decision to ease export restrictions on certain advanced chips – part of a broader package of trade agreements with China – is seen by experts as an early sign that high-level negotiations have steered bilateral relations in the right direction. Advertisement Washington’s move to resume license application reviews for Nvidia’s H20 AI and Advanced Micro Devices’s MI308 AI chips comes ahead of talks between senior officials from both nations in the coming weeks, despite a protracted strategic stand-off over tech and export controls. Zhuang Bo, global macro…

US companies in China decry overproduction as price war hits profits

Stay informed with free updates Simply sign up to the US-China relations myFT Digest — delivered directly to your inbox. Almost half of the big US companies operating in China have been adversely affected by overcapacity in the country, according to a new survey, underscoring deepening concerns about sluggish demand and rising deflationary pressures in the world’s second-largest economy. An annual survey by the US-China Business Council found that overcapacity had hit 42 per cent of respondents, up significantly from the 25 per cent that reported an impact last year.…

China joins US in hunt for ripples in spacetime with new telescope in Tibet

High on the Tibetan Plateau, China has completed a cutting-edge telescope designed to detect ripples in spacetime from the dawn of the universe with the help of the United States – strengthening a global effort to probe how everything began. Advertisement The Ali Cosmic Microwave Background Polarisation Telescope (AliCPT), perched at 5,250 metres (17,220 ft) in Tibet’s remote Ali prefecture, was finished this month after eight years of construction involving 16 institutions worldwide, including Stanford University, according to state broadcaster CCTV. Led by the Institute of High Energy Physics (IHEP)…

US, China ‘creeping’ toward agreement, Airbus signs deal: SCMP daily highlights

Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. US and China are ‘creeping’ towards a trade deal, former ambassador Burns says Washington and Beijing are on a “creeping path towards some kind of a deal”, former US ambassador to China Nicholas Burns said on Tuesday, while offering some rare support for US President Donald Trump’s tariff strategy towards China. 2. China’s foreign minister urges SCO to work for more ‘equal and orderly’…

Apple inks $500m deal for rare earth magnets with US mining firm

Apple has signed a $500m deal with a US firm for rare earth magnets, essential for manufacturing electronics, after China curbed exports of the scarce, vital materials. The backing from one of the world’s most valuable companies comes after MP Materials, which operates the only US rare earths mine, last week agreed to a multibillion-dollar deal with the US Department of Defense that will see the Pentagon become its largest shareholder. Both deals are aimed at mitigating supply chain risks after China limited the outgoing supply of rare earths earlier…

Beijing vows punishment over Taiwan’s residency rules for mainland spouses

Beijing has pledged to punish those who enforce Taiwan’s residency restrictions for mainland Chinese spouses, with Communist Party mouthpiece People’s Daily slamming Taiwanese leader William Lai Ching-te’s recent remarks about “removing impurities” on the island. Advertisement On Wednesday, Chen Binhua, a spokesman for Beijing’s Taiwan Affairs Office, described the island’s tightened residency rules as “a typical case of illegal abuse of power” and accused Taiwanese authorities of “discriminatory treatment and deliberate suppression that expose the nature of separatists”. Chen said Taiwanese authorities were “deliberately targeting mainland spouses who have lived…

UK government auditor questions MoD disclosures of Afghan data leak

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK’s official government auditor has questioned the Ministry of Defence’s handling of a huge data leak that endangered thousands of Afghan nationals and was kept secret for two years. The National Audit Office, an independent parliamentary body that scrutinises public spending, told the Financial Times that the MoD had not told it about the leak “in the established way for sensitive defence matters”. Gareth Davies, comptroller and auditor general…

Oxford University Press to stop publishing China-sponsored science journal

Oxford University Press (OUP) will no longer publish a controversial academic journal sponsored by China’s Ministry of Justice after years of concerns that several papers in the publication did not meet ethical standards about DNA collection. A statement published on the website of Forensic Sciences Research (FSR) states that OUP will stop publishing the quarterly journal after this year. FSR is a journal that comes from China’s Academy of Forensic Science, an agency that sits under the Ministry of Justice. The academy describes FSR as “the only English quarterly journal…

China looks to Africa as testing ground for global roll-out of yuan

China appears to be positioning Africa as a testing ground for internationalisation of the yuan as it seeks to expand the currency’s global use and break the dominance of the US dollar. Advertisement During a recent meeting in Cairo, the central banks of China and Egypt signed a series of agreements to promote the use of the yuan in trade and investment. These deals – lauded by People’s Bank of China governor Pan Gongsheng as a key step in advancing economic ties – were signed last week during Chinese Premier…

Japanese executive sentenced to 3.5 years in China for espionage

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. China has sentenced a Japanese pharmaceutical executive to three and a half years in prison for espionage, a decision that will raise concerns among foreign businesses and which drew warnings from Japan that opaque judicial processes were deterring travel to the country. The court in Beijing on Wednesday handed down the sentence to a local senior executive with Astellas Pharma, who had been arrested and indicted on charges of espionage…