Day: August 8, 2025

China’s consumer prices flat in July, while producer deflation persists

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China’s consumer prices were unchanged last month from a year ago and producer deflation persisted, suggesting that demand remains weak in the world’s second-largest economy amid trade turbulence. Advertisement The national consumer price index (CPI), a key gauge of inflation, was flat in July compared to a year ago, according to data released by the National Bureau of Statistics on Saturday. The reading beat market expectations, as a poll by financial provider Wind had forecast a 0.12 per cent decline for July. In June, the CPI rose by 0.1 per…

Did Chinese authorities take a page from the Covid-19 playbook for chikungunya?

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When a drone’s camera picked up water buckets and potted plants on the balcony of a four-storey village house in Foshan – the city in Guangdong province at the centre of southern China’s chikungunya outbreak – local authorities acted quickly. Advertisement An official visited the house but was denied entry, prompting the village’s Communist Party secretary to lead a task force to the building, knocking and shouting at the front door until the residents finally came downstairs. According to an article on the Nanhai district government’s official WeChat account on…

China reopens Covid toolbox in battle against Chikungunya virus

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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. Plumes of smoke wafted from the eaves and windows of ancestral homes and temples in Tengchong this week as a team of fumigators hunted for mosquitoes in the southern Chinese village. Since early last month, authorities have launched a war on mosquitoes in an effort to eradicate a growing outbreak in Guangdong province of Chikungunya virus, a disease carried by the insects. The campaign, using drones and even other predatory…

For university that bridges China and West, geopolitics is ‘biggest challenge’

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Geopolitics is stifling academic freedom and scientific research, but a university head in eastern China believes there is a way to ease the situation on campuses – by letting more foreign students in. Advertisement Xi Youmin, president of Xian Jiaotong-Liverpool University (XJTLU) in Suzhou, Jiangsu province, said easing visa restrictions for foreign students and visitors could help improve understanding of China. “The world is in a state of division defined by wars, geopolitics and the US tariff war,” Xi said in an interview. “Such uncertainty leaves people feeling confused and…

Chinese investment banker Bao Fan released from detention after two years, source says

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Bao Fan, star dealmaker and the founder of the boutique investment bank China Renaissance Holdings, has been released more than two years after being detained by Chinese authorities, according to a person with knowledge of the matter. China Renaissance sent shock waves through the country’s financial sector in 2023 when it announced it was unable to contact Bao, who founded the bank in 2005 with two others and still owns nearly 49% of its issued shares. The company’s share price tanked as a result of his detention. He was one…

US-India trade war throws spotlight on Mukesh Ambani’s Russian oil windfall

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India’s foreign minister S Jaishankar has defended his country’s purchases of cheap Russian oil following Moscow’s full-scale invasion of Ukraine, insisting it has a “moral duty” to secure the “best deal” for its citizens. Few if any Indian citizens can have benefited more from that deal than Asia’s richest man, Mukesh Ambani, whose Reliance Industries operates the world’s largest refining complex in the western city of Jamnagar. Imports of discounted Russian crude since 2022 have created windfall gains for Indian oil refiners, led by Reliance, as well as for the…

China’s tech dealmaker Bao Fan freed from detention after two years

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Stay informed with free updates Simply sign up to the Chinese business & finance myFT Digest — delivered directly to your inbox. Bao Fan, one of China’s star tech dealmakers and founder of boutique investment bank China Renaissance, has been freed by Chinese authorities after nearly two and half years of detention. Bao, a former Morgan Stanley and Credit Suisse banker famed for wheeling and dealing on behalf of China’s big tech groups, was released recently, according to people familiar with the matter. The state’s charges against him were never made…

Trump’s 100% tariff threat looms over chip sector despite relief for Apple

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Donald Trump’s decision to exempt Apple from looming semiconductor tariffs has cheered investors who took it as a sign that tech vendors and their suppliers could avoid the levies as long as they pledged US investment. But industry insiders say the Trump administration’s investigation into chips — including the tools and materials used to make them, and products that contain them — will still hit many companies that lack Apple’s lobbying muscle or the money to build factories in the US. “Other vendors of devices from notebooks to smartphones would…

Iran looks to tap into China’s BeiDou navigation system to plug security gaps

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Iran’s reported plans to sign up to China’s BeiDou satellite navigation system could expand Beijing’s footprint in the Middle East as advanced technology emerges as a battleground, according to analysts. Advertisement The plans come after Tehran suffered major losses to its military and nuclear facilities in its 12-day war with Israel and the US in June. In an interview with local newspaper Ham-Mihan last month, Iranian deputy communications minister Ehsan Chitsaz confirmed that it deliberately jammed GPS signals to misguide drones or missiles in the war with Israel. He said…

China’s rocket recovery ship, chikungunya fever outbreak: SCMP daily highlights

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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. Why China’s first rocket recovery ship is a milestone for its space programme China has launched its first drone ship to recover reusable rockets – becoming only the second country after the United States to master the technology – as Beijing pushes forward with its ambitious space programme. 2. 90-day extension of US-China tariff truce is likely, US commerce secretary says A 90-day extension…