China’s economy grew more strongly than expected in the second quarter as it proved resilient in the face of Donald Trump’s trade war. China’s gross domestic product (GDP) grew 5.2% in April to June compared with a year earlier, slowing from 5.4% in the first quarter, but just ahead of analysts’ expectations for a rise of 5.1%. The world’s second largest economy has so far avoided a sharp slowdown in part due to support by Beijing and as factories took advantage of a US-China trade truce to make shipments before…
Month: July 2025
China Merchants Bank’s brokerage arm gets virtual asset licence in Hong Kong
CMB International Securities (CMBI), the brokerage arm of China Merchants Bank, said it received a virtual asset licence from Hong Kong’s Securities and Futures Commission, making it the first mainland broker to conduct cryptocurrency trading services and other activities in the city. Advertisement The licence, issued on Monday, allowed CMBI to engage in a variety of virtual asset services, including trading, custody and advisory services. In addition, it can provide guidance on risk management, regulatory compliance and investment strategies. The licence came after Beijing was seen to be supportive of…
Chinese firms’ H stocks trade at smallest discount to onshore shares in 5 years
The Hong Kong shares of dual-listed Chinese companies are trading at the smallest discount to their onshore peers in nearly five years, as a weaker US dollar spurs inflows and mainland investors snap up these stocks. Advertisement The H shares of 160 firms, including Industrial and Commercial Bank of China and BYD, are trading 22 per cent below their mainland-listed A shares, according to a Hang Seng gauge tracking the disparity between the two markets. That marked the smallest gap since June 2020, as trading averaged 29 per cent over…
‘Financial burden’: why millions in China still quit national health insurance
More Chinese people dropped out of the voluntary health insurance scheme for urban and rural residents last year, the latest available data shows – piling pressure on the system amid economic challenges and declining public trust. Advertisement The downward trend in participation – in a scheme designed for farmers and the unemployed – continued in 2024, with 15.8 million fewer people enrolled compared with 2023, according to figures released by the National Healthcare Security Administration (NHSA) on Monday. China’s basic medical insurance, which also includes a separate programme for urban…
India reaches clean power capacity target despite coal reliance
Stay informed with free updates Simply sign up to the Renewable energy myFT Digest — delivered directly to your inbox. India said it had reached its Paris Agreement target of 50 per cent of non-fossil fuel power capacity five years ahead of its 2030 pledge, even as the world’s most populous country and third-biggest carbon emitter remains heavily reliant on coal for power generation. The milestone indicates the concerted push by the Modi government for new clean power installation, despite the large gap between installed capacity and power generation. Pralhad…
Macau landmarks added to Unesco World Heritage list in 2005 – from SCMP archive
This article was first published on July 16, 2005. Advertisement By Freda Wan Heritage listing hailed as key to widening Macau’s appeal Macau’s aim to position itself as something more than a gambling hub received a boost on Tuesday night (July 15, 2005) when many of its landmarks were added to Unesco’s World Heritage list. The 29 sites, which played a key role in the earliest encounters between east and west, now rank alongside such famed sites as China’s Great Wall and the Angkor temples in Cambodia. The announcement was…
Australian journalists confronted by Chinese security guards during Albanese’s Beijing trip
Security guards tried to stop Australian journalists covering Anthony Albanese’s visit to China from leaving a popular Beijing tourist destination, just hours before the prime minister’s talks with Xi Jinping on Tuesday. Albanese is on a six-day visit to China and is due to meet Xi, the country’s president, and its premier, Li Qiang, in Beijing on Tuesday afternoon. But ahead of the meeting, security crews approached journalists and Australian embassy staff at the capital’s historic Drum and Bell Towers area. Journalists from the ABC, SBS, Nine, Seven and Sky…
Japan’s 10-year yield hits highest level since 2008 financial crisis
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Yields on 10-year Japanese government debt have hit their highest level since the 2008 financial crisis as markets begin to price in the risk of populist campaign pledges and political uncertainty ahead of an election. The 10-year yield, which moves inversely to prices, rose 1.5 basis points on Tuesday to 1.59 per cent as an increasing number of polls suggested the ruling Liberal Democratic party would suffer heavy losses in…
Nvidia shares climb as White House relaxes export rules on China chip
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Nvidia shares climbed 4 per cent on Tuesday after the Trump administration relaxed restrictions on exporting a key artificial intelligence product designed for the Chinese market. In a boost for the leading AI chipmaker, Nvidia said it had received assurance from the US government that it would approve licences for the H20 chip, and that it hoped to resume deliveries “soon”. It also announced a new China-specific AI chip that…
Taiwanese leader said to be planning US ‘stopover’ that’s set to anger Beijing
Taiwanese leader William Lai Ching-te is planning a US “stopover” trip in August that could take him to New York and Texas en route to South America, sources said, a move that is bound to anger Beijing. Advertisement On Monday, Paraguayan President Santiago Pena confirmed that Lai would visit his country next month. Paraguay is the only country in South America and one of only 12 worldwide to recognise the self-governing island, down from 22 a decade ago. Analysts said Lai might add Guatemala and Belize, two of the other…