China unveils next-gen high-speed rail tech as US puts brakes on bullet train

China has pulled the wraps off its next-generation high-speed rail technology as the United States revokes federal funding for California’s high-speed rail project. Advertisement China’s latest bullet train, the CR450, is undergoing final performance tests to prepare it for commercial operation trials at 400km/h (250mph), the official Science and Technology Daily reported on Monday. The team surpassed the previous upper speed of 350km/h, at which high aerodynamic resistance and energy consumption levels had for decades been a technological barrier. 01:13 China unveils maglev marvel, redefining the future of high-speed rail…

US ‘long overdue’ for a critical minerals stockpile, says mining boss

This article is an on-site version of our Energy Source newsletter. Premium subscribers can sign up here to get the newsletter delivered every Tuesday and Thursday. Standard subscribers can upgrade to Premium here, or explore all FT newsletters Hello and welcome to Energy Source, coming to you from New York and London today. My FT colleague Malcolm Moore has written a profile of Albert Manifold, who is due to replace Helge Lund as chair of BP later this year. The troubled oil major announced on Monday that the 62-year-old Irish executive would…

China showcases full spectrum of drone technology in ‘border control’ exercise

China has staged a warfare demonstration using a full spectrum of uncrewed systems, underscoring its role as a leading global drone supplier, according to a state media report on Monday. Advertisement The drone and counter-drone exercise at a testing ground in the Inner Mongolia autonomous region simulated the “seizure and control of critical border locations”, state broadcaster CCTV reported. It said numerous domestically made systems were deployed in live operations across six phases of the futuristic battlefield scenario, covering reconnaissance, AI planning, infiltration, aerial attack, elimination and anti-access. Unmanned aerial…

Big Pharma is increasingly reliant on Chinese biotech advances

Stay informed with free updates Simply sign up to the Pharmaceuticals sector myFT Digest — delivered directly to your inbox. AstraZeneca, Pfizer and other multinational drug companies have spent a record amount on medicines developed by Chinese biotechs this year, underscoring how Big Pharma is increasingly reliant on China even as the country faces US tariffs.   China has comprised 18 per cent of licensing deals globally for multinational companies so far this year, up from 17 per cent last year and its largest-ever share, according to a report this month…

Global pharma companies do record deals with Chinese biotechs

Stay informed with free updates Simply sign up to the Pharmaceuticals sector myFT Digest — delivered directly to your inbox. AstraZeneca, Pfizer and other multinational drug companies have spent a record amount on medicines developed by Chinese biotechs this year, underscoring how Big Pharma is increasingly reliant on China even as the country faces US tariffs.   China has comprised 18 per cent of licensing deals globally for multinational companies so far this year, up from 17 per cent last year and its largest-ever share, according to a report this month…

BYD outsells Tesla, BMW in Hong Kong’s right-hand drive EV market

BYD scored the most new electric vehicle (EV) registrations in Hong Kong in the first half of 2025, beating Tesla and BMW, as mainland Chinese carmakers increased their focus on the city to serve as a launch pad for their global ambitions. Advertisement The Shenzhen-based carmaker accounted for 27 per cent, or 4,902, of the 18,356 private EVs that were registered in the first half, data from the city’s Transport Department showed this week. BYD’s bestseller with 3,676 units was the Sealion 07, a pure electric, mid-size, five-seat SUV that…

China warns souvenirs from overseas could spy on citizens and leak state secrets

China’s top anti-spy agency has advised citizens travelling abroad to be cautious while accepting souvenirs that could have surveillance capabilities. Advertisement Items such as backpack charms, key rings, necklaces and earrings might have hidden spy functions, including cameras, listening devices and tracking features, the Ministry of State Security warned on social media on Tuesday. It said the public must understand national security regulations and exercise caution with these “modified travel souvenirs”. It added that overseas spy agencies might push these altered gifts through “forced gifting”. State sector personnel, employees in…

Japan takes step towards first post-Fukushima nuclear energy reactor

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A Japanese utility has become the first since the Fukushima nuclear disaster to advance plans to build a new reactor in Japan as the country pivots back to atomic power 14 years after the catastrophe. Kansai Electric Power said on Tuesday it would resume a survey into whether it could build a new reactor at Mihama in Fukui prefecture. The project had been suspended after a tsunami in 2011 caused…

Arrests in China after more than 230 kindergarten children poisoned by lead paint in food

Chinese authorities have arrested six people and launched disciplinary investigations into almost 30 others after more than 230 kindergarten children were poisoned by food coloured with industrial-grade lead paint The incident, which occurred in Gansu province earlier this month, is one of China’s worst school food safety incidents and has drawn national attention. An investigative report released by the Gansu provincial party committee on Sunday found a litany of failures in safety and oversight, as well as attempts to cover up the incident, bribe people in charge and modify test…

Moonshot’s Kimi K2 soars in popularity amid experts’ praise for Chinese AI

The launch of the Kimi K2 artificial intelligence model by Alibaba Group Holding-backed Moonshot AI has drawn rapid uptake amid praise from industry experts. Advertisement Downloads of Kimi K2, launched on July 11, doubled to 145,000 on Monday from 76,000 on Friday, according to AI and machine-learning developer platform Hugging Face. The large language model (LLM) from the Beijing-based start-up uses a mixture-of-experts (MOE) architecture and boasts 1 trillion total parameters, with 32 billion activated per inference. For comparison, DeepSeek-V3 has 671 billion parameters. “While companies like OpenAI invest hundreds…