Day: September 29, 2025

China’s factory activity suffers longest decline in six years

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Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s manufacturing sector contracted for the sixth straight month in September, the latest sign of pressure from a trade war with the US as tariffs weighed on the wider Asian growth outlook.  The official manufacturing purchasing managers’ index was 49.8 in September, data from the National Bureau of Statistics showed on Tuesday, below the 50 mark that separates expansion from decline. The gauge has been in contraction territory since April,…

China’s grocery giants use Aldi tactics to lure frugal shoppers

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The cheap croissants and no-name detergents that power discount grocers in the US and Europe are now filling shelves in China, where struggling chains are betting on store brands to lure back shoppers. Advertisement Purveyors from Walmart and Wumart to Alibaba Group Holding’s Freshippo are streamlining their sprawling hypermarkets – once packed with name-brand goods – cutting clutter and pushing their own “private label” lines, which promise to match or beat the quality of established brands at lower prices. They are betting that a playbook honed by the likes of…

Zijin Gold shares surge 68% in Hong Kong trading debut

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Zijin Gold shares soared by as much as 68 per cent in their Hong Kong trading debut on Tuesday, after the spin-off company of one of China’s largest miners raised $3.2bn in an initial public offering. The listing comes as the price of the gold is trading at a record high of above $3,800 a troy ounce, driven higher by macroeconomic uncertainty and geopolitical risk, including a potential US government…

China’s largest provincial economy Guangdong has new governor-in-waiting

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Meng Fanli, the party chief of Shenzhen, has been promoted party chief of Guangdong’s government, a job that effectively makes him the governor-in-waiting of China’s largest provincial economy. Advertisement Meng, 60, was moved to Guangdong in 2022, when he was assigned as party chief of Shenzhen city, according to the province’s official news outlet Nanfang Daily’s social media account. The title of party chief of the provincial government doubles with the position of governor, and Meng’s appointment in that role is expected to be confirmed by the provincial legislature soon.…

Indonesia vows $2bn Christmas stimulus as economy flags

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Indonesia will introduce a $2bn stimulus to encourage consumer spending on everything from flights to presents during the holiday season, a senior government minister has said, as President Prabowo Subianto tries to revive the troubled economy. Indonesia, one of the world’s largest consumer markets with a population of more than 280mn, is grappling with weaker purchasing power and a sluggish job market, threatening its ability to maintain stable economic growth…

Chinese woman convicted after ‘world’s biggest’ bitcoin seizure

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A Chinese national has been convicted of playing a key role in what is believed to be the single largest cryptocurrency seizure in the world, worth more than £5.5bn ($7.4bn). Zhimin Qian, also known as Yadi Zhang, pleaded guilty on Monday at Southwark Crown Court, London of illegally acquiring and possessing the cryptocurrency. Between 2014 and 2017, she led a large-scale scam in China by cheating more than 128,000 victims and storing the stolen funds in bitcoin assets, the Metropolitan Police said in a statement. The Met said the 47-year-old’s…

China’s factory activity contracts for sixth straight month in September

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China’s official gauge of manufacturing activity has stayed in contraction for a sixth consecutive month in September, providing more fuel for calls to step up government support amid persistent external headwinds and weak domestic demand. Advertisement The manufacturing purchasing managers’ index (PMI) stood at 49.8 in September according to a Tuesday release from the National Bureau of Statistics, higher than August’s reading of 49.4 but falling short of a 50.1 projection from a survey of economists by financial data provider Wind. The monthly index compiles survey data given by supply…

Hong Kong should be China’s gateway to the United Nations

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Donald Trump may have a point in highlighting the UN’s ability to address global challenges. However, the antidote to stunted multilateralism isn’t abandoning the concept altogether, but inclusive reforms that empower countries that lack representation. Advertisement Besides its New York headquarters, the UN has three large secretariat hubs in Nairobi, Vienna and Geneva, but few offices located in Asia, a continent with around 60 per cent of the world’s population. Bangkok does serve as a de facto Asia-Pacific hub for various UN entities. However, Thailand’s recent history of political turmoil…

Pakistan, protests and public opinion: Narendra Modi’s terrible year

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This article is an on-site version of the India Business Briefing newsletter. To receive it in your inbox regularly, sign up if you’re a premium subscriber, or upgrade your subscription here. Good morning. The Reserve Bank of India’s monetary policy committee is meeting this week. While the general expectation is that the central bank will hold interest rates, a cut cannot be ruled out entirely. We will keep an eye on the meeting (while you celebrate Dussehra) and inform you on Friday about what transpired. In today’s newsletter, Tata Capital is…