Day: September 1, 2025

Advertisement The strategy comes at a time when the regional bloc, in a joint declaration, has acknowledged that escalating geopolitical tensions pose an increasing threat to its security. Speaking to reporters after a summit on Monday, Wang said that the SCO Development Strategy until 2035 had “set the tone and a clear direction” for the decade to come, holding this up as one of the most important outcomes from the gathering. The 25th SCO summit took place against the backdrop of heightened tensions between some of its key members and…

China has urged member states of the Shanghai Cooperation Organisation (SCO) to strengthen their collective financial security and voice in the world as pressure mounts from the United States and its allies. Advertisement Without naming any country, President Xi Jinping told the SCO state leaders – many of them facing blanket sanctions and punitive tariffs from the US – that the organisation needed to speed up and achieve “real results” to better protect themselves from “hegemonic” bullying. To that end, Xi suggested that the group, which is meeting in the…

China’s drive for economic self-reliance is raising the spirits and prospects of its semiconductor industry, as insiders expect more home-grown technologies after Washington revoked waivers for some foreign-owned chipmakers’ factories in China to use US technologies in their operations. Advertisement The Chinese branches of South Korean chipmakers Samsung and SK Hynix, as well as Intel Semiconductor (Dalian), will lose their fast-track status for compliance as “validated end-users”, meaning they will need to obtain licences to send certain US chipmaking equipment to their plants in China, according to a statement released…

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. 6 takeaways from Shanghai Cooperation Organisation summit opening Chinese President Xi Jinping called on members of the Shanghai Cooperation Organisation (SCO) to uphold international fairness and justice while pursuing mutually beneficial economic and cultural cooperation. 2. China’s yuan could strengthen to 7 per US dollar as Fed sends dovish signals The Chinese yuan is set to continue making gains against the US dollar over…

Indian Prime Minister Narendra Modi told Russian President Vladimir Putin on Monday that the two countries should deepen cooperation “in all sectors”. Advertisement The remark was a strong indication that New Delhi would not cut back on crude oil imports from Russia despite pressure from the US. Modi also expressed strong enthusiasm for welcoming Putin to India, in a subtle rebuke of US President Donald Trump. As they met on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Tianjin, Modi told Putin: “1.4 billion Indians are eagerly waiting…

Chinese exporters appear to hold significant bargaining power in their trade with the United States, according to an estimate from one of Beijing’s top investment banks, carrying 9 per cent of the cost burden created by the tariffs US President Donald Trump levied earlier this year. Advertisement The findings from China International Capital Corporation (CICC) run contrary to earlier claims by US officials – including Treasury Secretary Scott Bessent – that Washington has been on the winning side of the global tariff blitz rolled out in April. “US importers, sandwiched…