The authoritarian strongmen Vladimir Putin and Xi Jinping have mused on how organ transplants might lead to immortality, during a brief exchange of small talk caught on a hot mic at a military parade. The Russian president was in Beijing on Wednesday with the Chinese leader, who hosted allies for a ceremony to mark the 80th anniversary of the end of the second world war. As Putin and Xi walked at the head of a delegation of foreign leaders, state media aired live footage that captured parts of what appeared…
Day: September 3, 2025
Novartis strikes deal worth up to $5.2bn for Chinese cardio drug rights
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Novartis is buying the rights to potential cardiovascular medicines from a Chinese biotech in a deal worth up to $5.2bn, as big pharmaceutical companies become increasingly reliant on Chinese innovation to replenish their drug pipelines. The Swiss drugmaker has agreed its second collaboration deal with Shanghai-based Argo Biopharma, adding to the record total the sector has spent this year on drugs developed by Chinese biotechs. Argo specialises in developing drugs…
Kim, Putin, Xi share world stage at China’s military parade
Enormous intercontinental ballistic missiles, new underwater drones, laser weapons and other military hardware paraded across Beijing’s Tiananmen Square for 90 minutes on Wednesday — a commemoration of 80 years since the Japanese surrender that ended World War II and a showcase of modern Chinese military might. But many eyes were on the world leaders Chinese President Xi Jinping invited to the event, especially Russia’s Vladimir Putin and North Korea’s Kim Jong Un. Images from the event showed the three, who appeared together in public for the first time, shaking hands,…
China parades statecraft and hardware as world faces ‘critical’ choices
China crowned a busy week of grand diplomacy with a spectacular military parade on Wednesday, sending a message to the world that it has the determination and strength to champion a multipolar global order as geopolitical challenges rise. Advertisement The state leaders, various foreign representatives and some 50,000 spectators watched on as the military staged one of its most impressive shows, foregrounding China’s growing might in an event featuring more than 10,000 soldiers, over 100 aircraft and hundreds of weapons. 02:58 China unveils new weapons in massive Victory Day military…
Beijing’s Victory Day parade, China’s film industry: SCMP daily highlights
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. China’s military parade, as it happened: new weapons debut in show of deterrence China held a massive military parade along Changan Avenue in central Beijing, showcasing the country’s latest and most advanced weapons to commemorate the 80th anniversary of China’s victory over Japan in World War II. 2. The 5 key takeaways from China’s Victory Day military parade Beijing hosted two dozen world leaders…
Paraded mainland China weaponry shows Beijing’s focus on Taiwan: analysts
The latest weapons systems featured in China’s Victory Day parade have shown Beijing’s sharp focus on safeguarding its sovereign integrity over Taiwan and its capability to defend against any attempt to break away, analysts observed. Advertisement Although Taiwan was not directly mentioned in Chinese President Xi Jinping’s keynote address on Wednesday, it is often used by military observers as a yardstick to measure the People’s Liberation Army’s capabilities and progress. Xi on Wednesday urged the PLA to “accelerate the development of a world-class military force, resolutely safeguard national sovereignty, reunification…
China’s Latest Missiles, Drones and Submarines, Up Close
New Missile Threats to U.S. Navy Ships New Weapons for Ground Troops A Glimpse of Future Sea and Air Combat Nuclear Expansion NYT
Jane Street challenges Indian regulator’s market manipulation claims
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Jane Street has appealed against an order that alleged it manipulated Indian markets following a ban imposed by the country’s securities regulator. In a filing to an appellate tribunal on Wednesday, the US high-frequency trading firm said the Securities and Exchange Board of India had also refused it access to crucial and relevant documents for its defence. Jane Street, which plays a central role trading stocks and bonds around the…
Global bonds under pressure as 30-year Treasury yield hits 5%
Stay informed with free updates Simply sign up to the Sovereign bonds myFT Digest — delivered directly to your inbox. Global bond markets came under pressure on Wednesday, with the yield on the 30-year US Treasury rising to 5 per cent for the first time since July, amid investor nerves over a glut of sovereign issuance and persistent inflation. Longer-dated bonds bore the brunt of the selling, with the yield on the 30-year Treasury up as much as 0.03 percentage points to 5 per cent, before retracing to 4.97 per…
China’s second-half property outlook to pick up, Morgan Stanley says
China’s major property developers can expect their businesses to pick up in the remaining six months of this year as a disappointing first half fades in the rear-view mirror, according to an analysis by Morgan Stanley. Advertisement Sales and profitability are expected to decline at a slower pace, Morgan Stanley said, predicting that sales would fall 2 per cent for the rest of the year, adding up to a 10 per cent decrease for the whole year. Sales could even pick up in the fourth quarter, “backed by a rich…