Day: August 25, 2025

China urges ‘dialogue’ to resolve Iran nuclear issue as new sanctions loom

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Beijing has urged that the Iran nuclear issue be resolved through political and diplomatic means as Tehran faces new economic sanctions. Advertisement Chinese foreign vice-minister Ma Zhaoxu and Iranian deputy foreign minister Kazem Gharibabadi spoke by phone on Sunday, during which Ma was described as having voiced China’s hope that all parties concerned would “remain committed to resolving the issue through political and diplomatic means and actively create conditions for an early resumption of dialogue and negotiations”. “China will continue to uphold an objective and fair position, actively promote peace…

Evergrande: China’s property giant delisted from Hong Kong stock exchange

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Evergrande, formerly one of China’s biggest property developers, has been delisted from the Hong Kong stock exchange, capping the end of a long fall from grace. The company was removed from the exchange on Monday after an 18-month freeze on trading, imposed when the developer – once valued at more than HK$400bn (US$50bn) – was put into liquidation. Liquidators had told investors earlier in August the listing was set to be cancelled and they would not seek a review, after the stock exchange warned the company it had passed the…

China-South Korea ties at ‘a critical juncture’, Wang Yi says amid bid for reset

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Beijing urged Seoul to move bilateral relations forward on “the right track” when China’s top diplomat Wang Yi met South Korean President Lee Jae-myung’s special envoys on Sunday. Advertisement “The relationship between [China and South Korea] is at a critical juncture for improvement and development,” the Chinese foreign minister told the visiting delegation led by former South Korean National Assembly speaker Park Byeong-seug. The meeting on Sunday coincided with the 33rd anniversary of the establishment of diplomatic ties between the two neighbours. It is the latest sign of efforts to…

Evergrande delisting marks end of era for China’s property sector

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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. Evergrande, the world’s most indebted property developer, has been officially ejected from Hong Kong’s stock exchange, bringing down the curtain on the public status of a company that embodied the rise and fall of China’s real estate sector. The developer, which specialised in residential apartments, shook global markets after a 2021 default on offshore bonds alerted the world to a cash crunch in China’s property sector. Evergrande’s shares had been…

China pledges more intelligence sharing with Cuba, months after US jitters

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China’s state security chief Chen Yixin has met his Cuban counterpart in Beijing and pledged better intelligence sharing to help the US neighbour maintain social stability, against a backdrop of heightened pressure from the Donald Trump administration. Advertisement Chen and Lazaro Alberto Alvarez Casas, Cuba’s interior minister, opened the meeting by marking 65 years of diplomatic relations between the two countries, according to a report posted to social media on Monday by China’s Ministry of State Security. Cuba was the first country in the western hemisphere to establish diplomatic relations…

China’s yuan fixing rate hits 9-month high after dovish pivot by US Fed chair

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China’s central bank has set the yuan’s daily reference rate against the US dollar at the strongest level in more than nine months, as bets on rate cuts by the Federal Reserve are growing following a dovish pivot by its chair, Jerome Powell. Advertisement On Monday, the People’s Bank of China set the yuan’s midpoint rate – also known as the daily fixing rate – at 7.1161 per US dollar, its strongest showing since early November. Compared with 7.1321 in the previous release, Monday’s fixing also marked the largest upwards…

How SoftBank’s Son became Trump’s favoured foreign investor

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Anti-establishment and with a history of losing and gaining vast fortunes, it may be no surprise that Donald Trump and Masayoshi Son see eye-to-eye.  But the past eight months have deepened the rapport, raising the financial stakes for both the US and Japan and creating an unofficial diplomatic channel between the SoftBank billionaire founder and the US president. SoftBank has become a crucial foreign investor in the US. The Japanese group is increasing its stake in OpenAI and has invested $2bn in Intel while eyeing a takeover of the struggling…

Trade war deepens decline in China’s economic powerhouse province

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During the heyday of Chinese low-cost manufacturing, the town of Houjie was renowned for both its shoemakers and the raucous nightlife laid on for the thousands of foreign and domestic buyers who visited each year.  Like other parts of Guangdong, it boomed after China became the world’s export powerhouse and the southern province became a test bed for capitalism and foreign investment as the home of the country’s first special economic zones. But now, many of its factories are empty, and their surrounding restaurants and businesses are suffering, locals say, as trade tensions unleashed…

Trade war deepens decline for China’s economic powerhouse province

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During the heyday of Chinese low-cost manufacturing, the town of Houjie was renowned for both its shoemakers and the raucous nightlife laid on for the thousands of foreign and domestic buyers who visited each year.  Like other parts of Guangdong, it boomed after China became the world’s export powerhouse and the southern province became a test bed for capitalism and foreign investment as the home of the country’s first special economic zones. But now, many of its factories are empty, and their surrounding restaurants and businesses are suffering, locals say, as trade tensions unleashed…