China’s new Mandarin rules set to ramp up ethnic integration drive

China reviewed two legislative proposals on Monday as the country ramps up a drive to promote further ethnic integration through the use of standard Mandarin – both the spoken and written language – among minorities. Advertisement The draft “Law on Promoting Ethnic Unity and Progress”, submitted to China’s top legislative body, the National People’s Congress (NPC) Standing Committee, is “an urgent requirement to foster a strong sense of community among the Chinese nation and advance the construction of a unified national identity”, state news agency Xinhua reported on Monday. In…

Elliott wades into sensitive sector with stake in Japanese nuclear power group

Stay informed with free updates Simply sign up to the Japanese business & finance myFT Digest — delivered directly to your inbox. Elliott Management has become a top three shareholder of Kansai Electric Power, Japan’s second-largest utility and a major nuclear power operator, in a sign that activist investors in the country feel emboldened to take positions in sectors considered sensitive. The New York-based activist fund now owns between 4 and 5 per cent of the company, according to people familiar with the stake. That would make Elliott a top…

Chinese consumer prices slip back into decline amid deflationary pressures

China’s consumer prices slipped back into decline in August, highlighting persistent deflationary pressures, while a narrower drop in factory-gate prices suggested Beijing’s “anti-involution” campaign may be starting to take hold. Advertisement The national consumer price index (CPI), a key gauge of inflation, fell 0.4 per cent year on year last month, according to data released by the National Bureau of Statistics on Wednesday. The reading fell short of market expectations after a poll by financial provider Wind forecast a 0.2 per cent drop. In July, the CPI remained unchanged from…

Why the Greater Bay Area should host the 2036 Olympics

For cities around the world, hosting the Summer Olympic and Paralympic Games is often seen as both a prestigious honour and a daunting economic burden. The need to construct sports complexes, modernise transport networks and expand accommodation capacity can saddle hosts with debt and infrastructure that often falls into disuse post-Games. Advertisement But what if the host has the DNA for hosting a successful Olympics and can surmount this financial strain? What comes to mind is the Greater Bay Area – a vibrant region encompassing Hong Kong, Shenzhen, Macau and…

Elliott takes stake in Japanese nuclear power group as activists eye sensitive sectors

Stay informed with free updates Simply sign up to the Japanese business & finance myFT Digest — delivered directly to your inbox. Elliott Management has become a top-three shareholder of Kansai Electric Power, Japan’s second-largest utility and a major nuclear power operator, in a sign that activist investors in the country feel emboldened to take positions in sectors considered sensitive. The New York-based activist fund now owns between 4 and 5 per cent of the company, according to people familiar with the stake. That would make Elliott a top-three shareholder,…

Apple’s new iPhone Air, with eSIM, faces support limitation in China

Apple unveiled a panoply of updated gadgets at this year’s biggest product launch on Tuesday, with its ultra-thin iPhone Air grabbing much of the limelight. Advertisement Customers in mainland China, one of Apple’s most lucrative markets, however, may be less inclined to join the scramble for the new model because of regulatory uncertainties related to the new phone’s adoption of eSIM technology in place of physical SIM cards. The release of the iPhone Air may be limited or staggered in the country in its initial few weeks or months, as…

China offers funding for stablecoin research as global interest grows

China’s largest government-backed research funder has begun accepting applications for the study of stablecoins and their cross-border monitoring systems, a move indicating Beijing’s growing interest – and wariness – towards the emerging digital asset. Advertisement In a circular posted on its website last week, the National Natural Science Foundation of China – an affiliate of the Ministry of Science and Technology that manages hundreds of billions of yuan in annual funding – solicited proposals for the project, which it characterised as addressing an issue critical to the country’s economic development.…

‘Brain-like’ AI uses Chinese chips to run 100 times faster on ultra-long tasks

A Chinese team has unveiled what it calls the world’s first “brain-like” large language model – an artificial intelligence system designed to use less energy, perform better and operate without Nvidia chips. Advertisement Developed by researchers at the Chinese Academy of Sciences’ Institute of Automation in Beijing, SpikingBrain 1.0 mimics how the human brain fires only the neurons it needs. So instead of activating an entire network like ChatGPT and other mainstream AI tools, it selectively responds to input, saving power and speeding up response time. Thanks to this design,…

Trump tells EU to hit China and India with 100% tariffs to pressure Putin

Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Donald Trump has asked the EU to impose tariffs of up to 100 per cent on India and China as part of a joint effort to increase pressure on Russia to end its war in Ukraine, according to three officials familiar with the matter. The president made the extraordinary demand after dialling into a meeting between senior US and EU officials gathered in Washington to discuss ways to…