Month: September 2025

The Chinese yuan’s share in global foreign exchange (forex) trading climbed to 8.5 per cent this year while maintaining its position as the world’s fifth-most traded currency, according to survey findings by the so-called central bank for central banks. Advertisement The proportion, unveiled by the Bank for International Settlements (BIS) in its 2025 Triennial Central Bank Survey – launched in April, with the findings released on Tuesday – showed an increase from 7 per cent in the 2022 survey, with the yuan’s ranking unchanged. The results come as Beijing has…

In reaching a compromise on the forced sale of TikTok, Beijing has emphasised that it welcomes companies to conduct business negotiations “in line with market rules”. It is also its view that Chinese firms investing overseas should respect local laws and customs. Advertisement In the United States, however, this is particularly challenging, given the idiosyncrasies and complex interplay of its domestic politics, international power dynamics, complicated regulatory regimes and corporate culture. TikTok has been successful not only in the United States but around the world, not because it is particularly…

Advertisement Jian Guo was sentenced to four years and nine months on Tuesday, according to the news agency dpa. The Higher Regional Court of Dresden found the former aide to Maximilian Krah, a controversial but high-profile member of the Alternative for Germany (AfD) party, guilty of passing information about parliamentary negotiations and decisions to contacts in China’s intelligence services for almost five years until he was arrested in April last year. While German media described him only as “Jian G” under domestic naming rules, international media are free to use…

Liu Haixing, a veteran diplomat specialising in European affairs, has been appointed as the head of the International Department, the Communist Party’s diplomatic arm. Advertisement He replaces Liu Jianchao, who has not been seen in public since late July amid speculation he could be facing a disciplinary investigation. Sources said the diplomat was detained shortly after returning from a trip to Algeria. Liu Haixing, 62, has served in a variety of diplomatic roles over the past three decades and has been deputy director of the office of the National Security…

Washington’s decision to broaden its trade blacklist could put many overseas subsidiaries of Chinese firms under scrutiny, potentially disrupting their “going global” strategies and reigniting trade tensions between the two superpowers, analysts said. Advertisement The US Bureau of Industry and Security (BIS) announced on Monday that any company at least 50 per cent owned by firms already on the US Entity List or the Military End-User List – which target entities Washington deems a security threat – will now automatically face the same restrictions. The US Department of Commerce said…

The US commerce secretary’s remark that semiconductor production should be split “50-50” between the United States and Taiwan has fuelled concerns on the island over Washington’s defence commitment. Advertisement Howard Lutnick told US cable network NewsNation on Sunday that unless Taiwan moved a significant share of its chip production to America, Washington could not guarantee it would defend the island against an attack from Beijing. Taiwan has long seen its semiconductor industry as a “silicon shield” because its dominance in advanced chips makes it important for global security – and…