Month: August 2025

China’s military parade next month will offer a rare opportunity for outsiders to observe which generals are valued by the People’s Liberation Army top brass. Advertisement The PLA does not publish regular updates on its personnel changes, so the identity of those given prominent roles will provide clues about who might be in line for more senior positions. But the absence of certain figures may also offer clues about who has fallen foul of the ongoing anti-corruption campaign within the military, which has seen at least 16 military deputies removed…

America’s envoy to Beijing is expected to skip China’s military parade next week, joining what appears to be a concerted effort by Western missions to opt out of the grand event despite Chinese pressure. Advertisement The South China Morning Post has learned from multiple sources that US ambassador David Perdue is unlikely to attend the parade that China is holding in Tiananmen Square in Beijing on Wednesday to commemorate the end of World War II. It is unclear if the US embassy would instead dispatch another diplomat or a military…

China’s top banks face continued pressure, as a slowing economy, lower interest rates and weak loan demand weighed on first-half earnings. Advertisement Net profit at Industrial and Commercial Bank of China (ICBC), the world’s largest bank by assets, fell 1.4 per cent in the first half from a year earlier to 168.1 billion yuan (US$23.5 billion), according to its interim results announced on Friday after the market closed. Its net interest margin (NIM), a key indicator of a bank’s profitability, fell to 1.3 per cent from 1.42 per cent at…

Chinese scientists have developed the world’s first “all-frequency” 6G chip that could help bridge the digital divide between rural and urban communities. Advertisement In practical terms this equates to being able to transmit a 50GB high-definition 8K movie within seconds – potentially opening up a range of commercial and educational opportunities to those living in remote areas. At present the need to ensure widespread connectivity has resulted in a fragmented spectrum of frequencies and devices. Some 5G mobile phones operate at around 3 gigahertz, satellites use 30 GHz and future…

Huawei Technologies saw a nearly one-third decline in profit in the first half of the year, despite reclaiming the throne in China’s smartphone market, according to a filing from its shareholding entity Huawei Investment & Holding. Advertisement Net profit during the period fell 32 per cent year on year to 37.2 billion yuan (US$5.2 billion), while revenue grew 4 per cent to 427 billion yuan, according to a filing to the Shanghai Clearing House on Friday. Privately owned Huawei regularly discloses its corporate bond issuances to the clearing institution. Huawei…

Advertisement Net income attributable to ordinary shareholders advanced 78 per cent to 43.1 billion yuan (US$6 billion) in the period, up from 24.3 billion yuan a year earlier, primarily due to “mark-to-market changes from our equity investments and gains from the disposal of the local consumer service business of Trendyol”, the Hangzhou-based company said. That was better than the 30.2 billion yuan expected by analysts surveyed by Bloomberg. Total revenue rose 2 per cent to 247.7 billion yuan in the three months ended June 30, compared with the Bloomberg consensus…

The Office of the US Trade Representative (USTR) has announced a 90-day extension on a slew of product exclusions from Section 301 tariffs on Chinese imports. Advertisement The exclusions, previously extended in June, contain 178 items that fall into the categories of chemical materials, electronic components, medical supplies and solar manufacturing equipment. As a result, these products will continue to be spared from levies of 7.5 to 25 per cent that were imposed on Chinese imports during US President Donald Trump’s first term as part of a Section 301 investigation,…