Month: September 2025

China has deployed a working prototype of a global defence system similar to the United States’ proposed Golden Dome, while hailing a breakthrough in data processing technology for worldwide threat management, according to scientists involved in the project. Advertisement Although the “distributed early warning detection big data platform” is still in its early stages of development, it can simultaneously monitor a thousand missiles fired at China from anywhere in the world, according to the developers. By leveraging diverse sensors in space, the ocean, the air and on the ground, the…

A 47-year-old Chinese woman on Monday told a UK court that she played a leading role in a multibillion-pound fraudulent bitcoin scheme. Advertisement Businesswoman Qian Zhimin, alias Zhang Yadi, pleaded guilty at London’s Southwark Crown Court following what is believed to be the single largest cryptocurrency seizure in the world, now worth about £5.5 billion (US$7.4 billion). Qian admitted one count of possessing criminal property and one count of transferring criminal property. Judge Sally-Ann Hales remanded Qian in custody ahead of sentencing, which will take place at a later date.…

Argentina’s soybean export orders surged to a seven-year high this month as Chinese importers bought millions of tonnes of the staple crop during a brief suspension of export taxes, securing more than half of their near-term needs from South America. Advertisement The rush of orders has rattled the Trump administration, where divisions are deepening over Argentine President Javier Milei’s closer ties with Beijing and what many Republicans see as a direct blow to American farmers. Friction over the latest orders became apparent when a photographer captured US Treasury Secretary Scott…

US President Donald Trump has declared his administration will start slapping steep tariffs on countries that export furniture to America, putting China in the crosshairs of his efforts to bring manufacturing back to his country again, even amid ongoing high-level efforts between Washington and Beijing aimed at resolving their trade differences. Advertisement “In order to make North Carolina, which has completely lost its furniture business to China, and other Countries, GREAT again, I will be imposing substantial Tariffs on any Country that does not make its furniture in the United…

A Chinese military magazine has shed light on the mysterious laser weapon unveiled at the country’s Victory Day parade in Beijing this month, and argues that its output exceeds that of its American counterparts. Advertisement According to Ordnance Industry Science Technology, a Chinese military journal, the Liaoyuan-1 (LY-1) shipborne laser weapon displayed in the military parade on September 3 will be tasked with “close-range interception of incoming missiles and drones”, serving as the “last line of defence” within the shipborne air-defence system. The article, published in the latest issue of…

Hong Kong note-issuing banks HSBC and Standard Chartered on Monday completed trades at the launch of the city’s cross-boundary bond repurchase (repo) scheme, according to the two lenders. Advertisement The cross-boundary bond repo business was launched by the Hong Kong Monetary Authority (HKMA) and the People’s Bank of China, alongside other mainland authorities, as the latest initiative to enhance the Bond Connect scheme, which would encourage more international investors to trade in yuan-denominated mainland bonds. Under the scheme, all overseas institutional investors who put money into the onshore bond market,…