Month: July 2025

China and the United States agreed to extend their pause on tariff increases aimed at each other’s imports, following two days of talks in Stockholm that marked a third round of high-level trade negotiations between the world’s two largest economies. Advertisement The two sides did not announce any breakthroughs or specify the duration of the extension during a third round of high-level trade negotiations between the world’s two largest economies. “According to the consensus between China and the US, both sides will continue to push for the continued extension of…

A prominent Chinese economist has pushed back against Bridgewater Associates founder Ray Dalio’s views on the debt situations in China and the United States, as debate over the fiscal directions of the world’s two largest economies heats up. Advertisement Xu Gao, chief economist at Bank of China International (China), said in a recent 9,000-word article that Dalio was mistaken in calling for China to deleverage, arguing that such a view “misjudges” the country’s debt dynamics. “China’s recent debt-rollover issues were not caused by excessive borrowing, but by overly harsh deleveraging…

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. China’s famous Shaolin Temple gets new abbot after predecessor removed China has appointed a new abbot to the country’s famous Shaolin Temple, two days after authorities at the Buddhist monastery announced its head monk for more than 25 years had been placed under investigation for alleged financial and sex scandals. 2. China releases US$77 million relief fund as casualties mount in Beijing floods China…

On a Friday in March 2021, as Gee-Kung Chang began his day as usual at 5am, there was no hint that his life was about to change forever. Advertisement As the Georgia Institute of Technology chair professor – a pioneer in the networks behind 5G and 6G – prepped for lectures and set up a thesis defence for a PhD student, a thunderous knock at the door shattered the quiet. On the other side were nine US federal agents – seven from the FBI and two from Homeland Security. They…

Advertisement In the past week at least 40 people have died – 30 of them in the capital – and tens of thousands have been displaced, according to reports by state media. Flooding has grown increasingly frequent in recent years across China’s typically arid north – a problem intensified by worsening global warming, which some Chinese meteorologists have described as nature’s “revenge” on humanity. Climate change has clearly intensified the monsoon rains that have wreaked havoc nationwide – from coastal tech hubs to inland regions and the south of the…

The Hong Kong Monetary Authority (HKMA) is likely to issue the first batch of stablecoin licences early next year, as the city’s de-facto central bank urged potential issuers to submit their applications by the end of September. Ahead of the stablecoin ordinance taking effect on August 1, the HKMA unveiled on Tuesday licensing procedures and explanatory notes, as well as two sets of guidelines for supervising licensed stablecoin issuers, and anti-money-laundering and counterterrorism financing… South China Morning Post

After tense talks in Beijing and a bruising trade blow from Washington, EU bureaucrats are heading into their August break weary and short of wins, as doubts deepen over the bloc’s global leverage. Advertisement Last week’s summit in Beijing went off without too much drama, seen as an achievement in itself, given how fraught EU-China ties had become in the run-up to the long-awaited event. But on some of their longest-standing complaints, the Europeans found that Beijing would not budge and was keen to display the confidence and swagger that…