Vladimir Putin and Kim Jong-un are among the world leaders who will attend a military parade with President Xi Jinping in Beijing next week, in a show of collective defiance amid western pressure. No western leaders will be among the 26 foreign heads of state and government attending the parade next week – with the exception of Robert Fico, prime minister of Slovakia, a member of the European Union – according to the Chinese foreign ministry. Against the backdrop of China’s growing military might during the Victory Day parade on…
Month: August 2025
Meituan shares plunge as China’s delivery price wars escalate
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. China’s leading food delivery company Meituan said its quarterly profit had been all but wiped out as it fights a punishing domestic price war, sending shares down 10 per cent. Hong Kong-listed Meituan reported on Wednesday its net income dropped 97 per cent to Rmb365mn ($51mn) in the three months to the end of June, despite revenues rising 12 per cent to Rmb92bn. It blamed “irrational competition” that began in…
China-Philippine tensions rise at Second Thomas Shoal as resupply deadline looms
Tensions are rising again at the disputed Second Thomas Shoal following a surge in activity from Chinese and Philippine vessels at a critical time for resupplying troops stationed on a stranded warship. Advertisement The Philippines said a Chinese navy tugboat had been spotted approaching the BRP Sierra Madre, but downplayed suggestions it would try to tow the ageing ship away. Rear Admiral Roy Vincent Trinidad, a spokesman for the Philippine Navy, said the 1,500-tonne tugboat 185 had been sighted just 5 nautical miles (9km) south of the ship on Monday,…
North Korean leader Kim Jong-un will attend military parade in Beijing
North Korean leader Kim Jong-un will travel to China to attend next week’s military parade marking the 80th anniversary of the end of World War II, Beijing has announced. Advertisement It will be Kim’s first visit to China since 2019. He will join Chinese President Xi Jinping and Russian leader Vladimir Putin – key allies of isolated North Korea – at the event on Wednesday. They will be among a number of leaders at the parade, which will see thousands of goose-stepping soldiers in Tiananmen Square and some of the…
JD’s property arm joins 2 firms in US$1 billion Singapore Reit: sources
The property investment arm of Chinese e-commerce giant JD.com and two other firms plan to launch a Singapore-based real estate investment trust (Reit) with assets potentially valued at more than US$1 billion, said two sources with knowledge of the matter. Advertisement JD Property, the unlisted infrastructure investment and asset management platform of JD.com, is setting up the Reit with Swiss investment firm Partners Group and EZA Hill Property, which is backed by Asian investment firm Hillhouse, the sources said. The planned Reit could be listed on the Singapore Exchange as…
China won the rare earths race. Can it stay on top?
Trial $1 for 4 weeks Then $75 per month. Complete digital access to quality FT journalism. Cancel anytime during your trial. Global news & analysis Expert opinion FT App on Android & iOS FT Edit app FirstFT: the day’s biggest stories 20+ curated newsletters Follow topics & set alerts with myFT FT Videos & Podcasts 20 monthly gift articles to share Lex: FT’s flagship investment column 15+ Premium newsletters by leading experts FT Digital Edition: our digitised print edition Financial Times
80 years on from WWII, has China become a main guarantor of the post-war order?
Ahead of the 80th anniversary of Victory Day, marking the end of the Sino-Japanese war and the global fight against fascism, we look at the profound changes of the post-war period and how they continue to affect China’s place in the world. Part one of this series examines how the Chinese sacrifices of the conflict underpin Beijing’s determination to uphold global norms. Advertisement An estimated 35 million Chinese soldiers and civilians died as part of their country’s sacrifice as a key Allied power, yet 80 years later China finds itself…
Nvidia sets fresh sales record amid fears of an AI bubble and Trump’s trade wars
Nvidia is set to report its second-quarter earnings on Wednesday, in a first test of investor appetite since last week’s mass AI-stock selloff. All eyes will be on the chipmaker’s latest financials as the company sets the tone for the rest of the AI industry after a turbulent week in the sector. Several tech stocks saw shares tumble last week amid growing questions over whether AI-driven companies are being overvalued, including an MIT report that said 95% of AI pilots fail to grow company’s revenues and statements from the OpenAI…
Beijing slams Washington after Panama lawmakers join ‘anti-China’ group
China’s state media and diplomats lashed out at Washington on Wednesday after nine Panamanian lawmakers joined a global parliamentary alliance that Beijing denounced as an anti-China front. Advertisement The move, announced in Panama’s National Assembly a day earlier at a ceremony backed by the US ambassador, drew sharp criticism from state outlets such as the China Daily and Global Times, which accused Washington of coercion and manipulation. The lawmakers declared their membership in the Inter-Parliamentary Alliance on China, known as IPAC, on Tuesday. The event was attended by US Ambassador…
TikTok owner set to launch share buyback valuing company at $330bn
ByteDance, the owner of the short-video app TikTok, is set to launch a new employee share buyback that will value the Chinese technology giant at more than $330bn, driven by continued revenue growth, said three people with knowledge of the matter. The company plans to offer current employees $200.41 per share in the repurchase program, the people said, up 5.5% from $189.90 each it offered them about six months ago which valued ByteDance at roughly $315bn. The buyback is expected to be launched in the autumn. The latest buyback at…