Final arguments have concluded in the national security trial of the pro-democracy media tycoon Jimmy Lai in Hong Kong. Government-picked judges are retiring to consider their verdict in the case, seen internationally as a crucial test of the rule of law in the city. Lai, 77, has been in prison since 2020, when he was charged with two counts of conspiracy to collude with foreign forces and one count of conspiracy to publish seditious material. The charges were brought under a sweeping national security law (NSL) imposed by Beijing after…
Month: August 2025
What does a mock US rocket launcher in mainland China say about a Taiwan conflict?
Mock-ups of Himars rocket launchers – which Taiwan has ordered from the US – have been spotted in a car park in mainland China, suggesting a PLA simulation of a cross-strait conflict. Advertisement A video circulating on mainland Chinese social media this week showed three trucks resembling the US-made High Mobility Artillery Rocket Systems (Himars). The replica trucks appeared to be lighter than genuine Himars units and, according to the video, lacked rocket launchers. The footage showed the vehicles stationed in Xuzhou in the eastern province of Jiangsu. The South…
Advertising group Dentsu explores sale of international business
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Japanese advertising group Dentsu is exploring the sale of its international business, a move that would end its ambitions to compete globally against WPP and Publicis in a sector convulsed by artificial intelligence. Tokyo-listed Dentsu has appointed Mitsubishi UFJ Morgan Stanley and Nomura Securities to sound out potential buyers for its international creative and media advertising business in a deal that could raise several billion dollars, according to three people…
Why did Malaysia’s top deep-sea robotics scientist Mohd Rizal Arshad move to China?
Advertisement For Malaysian robotics scientist, Professor Mohd Rizal Arshad, who relocated to China this year, the growing number of underwater structures and deep-sea explorations hold great potential for marine robot applications. “The future is in the ocean,” the ocean robotics expert said. He envisions the sea as a future source of drinking water, food, minerals and power such as wave energy. Rizal said China had a robust ecosystem that enabled the swift translation of research into industry applications, fostered direct engagement with businesses to tackle real-world challenges and gave easy…
Singapore threatens lashes and jail for illegal vape imports
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Singapore is raising fines for vape users and threatening up to 20 years in prison and 15 lashes for importers of devices laced with banned substances as part of a crackdown on e-cigarettes. The penalties, which will take effect from Monday, are aimed at tackling what public officials in the city-state called “significant health risks” associated with vaping. “There are many people, especially the young, [who] picked up vaping thinking…
China warns against external interference in ties with South Korea
Advertisement “The China-South Korea relationship is based on mutual interests, is not targeted at a third party, and should not be interfered with,” Chinese foreign ministry spokesman Guo Jiakun said. The statement followed South Korean President Lee Jae-myung’s assessment that Seoul had to rebalance its relationship with Beijing as US-China competition intensified. At a forum hosted by the Washington-based Centre for Strategic and International Studies on Monday, Lee said that as supply chains changed, South Korea could no longer maintain the logic of relying on the US for security and…
Wuliangye Yibin’s profit slump mirrors rival Kweichow Moutai’s woes
Wuliangye Yibin, China’s second-largest liquor distiller, reported its slowest earnings growth in a decade, reflecting the impact of an intensified anti-corruption campaign on ostentation and a slowing economy that has also affected its peers. Advertisement First-half revenue of the Yibin, Sichuan-based company rose 4.2 per cent to 52.8 billion yuan (US$7.4 billion) from a year earlier, while net profit attributable to equity holders increased 2.3 per cent to 19.5 billion yuan, according to its earnings statement published on Wednesday. Both revenue and profit grew at the slowest pace since 2015.…
North Korea’s Kim Jong Un to join Putin at China military parade
North Korea’s leader Kim Jong Un will attend a military parade in Beijing next week alongside Russia’s Vladimir Putin, China has said, in what will be a landmark visit. This is Kim’s first multilateral international meeting, making the event a diplomatic win for China’s Xi Jinping who has been pushing for a new Beijing-led world order. It allows Xi to signal his influence – although limited – on both Putin and Kim at a time when Washington is attempting to make a deal with Moscow to end the war in…
Rare earths miner targets US investment to rival Chinese supplies
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The world’s largest non-Chinese rare earths miner is raising more than $500mn to expand operations and target stakes in US magnet makers, as western governments try to curb Beijing’s influence on global supplies of critical minerals. Australia’s Lynas, which has mines in Western Australia and a refinery in Malaysia, said on Thursday it was raising A$825mn (US$538mn) in equity to grow its stockpiles and capacity and invest in “downstream” magnet…
China’s retail stock traders bank on US$1 trillion bull run extending
China’s individual investors are jumping on the bandwagon of a surprising stock-market rally, eyeing more gains that they believe will be buttressed by state support and potential foreign inflows. Advertisement The nation’s 240 million retail stock traders – twice the population of Japan – are cheering the breakout of the benchmark Shanghai Composite Index, which hit its highest level in a decade this month, leaving behind the trauma of two short-lived run-ups in recent years. China’s markets are now capitalised at US$12.3 trillion, having added about US$1 trillion in value…