Chinese industrial firms saw their highest earnings surge in nearly two years last month, as production revved up while declines in factory-gate prices eased amid a government campaign to rein in excess capacity. Advertisement Industrial profits climbed for the second straight month in September, rising 21.6 per cent from a year earlier, their biggest gain since November 2023. That followed a 20.4 per cent jump in August. For the first nine months of the year, profits were up 3.2 per cent, according to data released Monday by the National Bureau…
Day: October 26, 2025
Who’s hiring in China? Pet care and advanced manufacturing stand out
Advanced manufacturing and the provision of services and entertainment – including pet and aged care and the production of short dramas – are powering pockets of growth in an otherwise sluggish Chinese job market, according to data from an online recruitment platform. Advertisement A report looking at third-quarter employment trends published this week by the platform, Zhaopin, said the new materials sector led all employment categories with a 66.7 per cent year-on-year increase in job postings in the period from July to September. In the “modern services” category, the pet…
Japanese stocks hit record on Takaichi optimism
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Japan’s Nikkei 225 average surged past the 50,000 level for the first time in its 75-year history, driven by optimism that new pro-stimulus Prime Minister Sanae Takaichi’s policies will boost economic growth and hopes that US-China trade tensions are easing. The closely watched index jumped 1.6 per cent in the first 90 minutes of trading, rising to 50,100. The yen remained soft against the dollar, hovering around an eight-month low…
US and China agree ‘framework’ for trade deal ahead of Xi-Trump meeting
The US and China have agreed a framework for a trade deal just days before Donald Trump and Chines president Xi Jinping are due to meet. Treasury secretary Scott Bessent said the agreement, forged on the sidelines of the Association of south-east Asian Nations (Asean) summit in Malaysia on Sunday, would remove the threat of the imposition of 100% tariffs on Chinese imports starting on 1 November and include “a final deal” on the sale of TikTok in the US. Trump arrived in Malaysia on Sunday for the summit, his…
Australia ‘increasingly alone’ in countering China’s influence in Pacific, aid report shows
Australia is “increasingly alone” in countering Beijing’s influence in the Pacific and remains the largest foreign aid donor to the region as the US and other western partners cut funding, a new report shows. The 2025 Lowy Institute Pacific Aid Map, released late on Sunday, tracks official development finance (ODF) from 2008 to 2023. It finds ODF to the Pacific fell by 16% in 2023 to US$3.6bn, marking a second consecutive year of record decline in development support. Australia makes up 43% of official development finance in the region, four…
Unavoidable anarchy: John J. Mearsheimer on Trump’s China, Russia instincts
John J. Mearsheimer is the R. Wendell Harrison Distinguished Service Professor of Political Science at the University of Chicago, where he has taught since 1982. He has written extensively on security issues and international politics and is best known for his theory of offensive realism in international relations, which holds that to dominate the international system, great powers must constantly engage in security competition with each other, sometimes leading to war. Advertisement In this interview, Mearsheimer discusses the biggest threats to a liberal democracy, Donald Trump’s good instincts and the…
FirstFT: US expects China to delay rare earth export controls
This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia, Europe/Africa or Americas edition to get the newsletter delivered every weekday morning. Explore all of our newsletters here Good morning and welcome back to FirstFT Asia. In today’s newsletter: China likely to delay rare earths export controls OpenAI’s unconventional dealmaking The top executive who blew the whistle twice A traveller’s guide to Hong Kong We start with the US-China talks in Malaysia over the weekend, which have raised hopes of a trade truce…
India and China resume direct flights as ties improve after 5-year suspension
India and China resumed direct flights on Sunday after a five-year suspension, a move important both for trade and a symbolic step as Asia’s giants cautiously rebuild relations. Advertisement IndiGo flight 6E1703 from Kolkata touched down in the southern Chinese city of Guangzhou just before 4am, officially resuming non-stop air links that had been suspended since 2020 due to the coronavirus pandemic and subsequent geopolitical tensions. The neighbours – the world’s two most populous nations – remain strategic rivals competing for regional influence but ties have eased gradually since a…
US expects China to delay rare earth export controls as trade deal nears
Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world US officials expect China to delay introducing export controls on rare earths, after two days of talks in Malaysia raised hopes that Donald Trump and Xi Jinping would agree to extend a trade truce at their high-stakes summit this week. Beijing’s announcement of the sweeping controls this month triggered a sharp escalation in trade tensions between the world’s two biggest economies and threatened to torpedo plans for Trump…
US and China reach ‘final deal’ on TikTok sale, treasury secretary says
US treasury secretary Scott Bessent claimed on Sunday that the US and China have finalized the details of a deal transferring TikTok’s US version to new owners. “We reached a final deal on TikTok,” Bessent said on Sunday on CBS’s Face the Nation with Margaret Brennan. Alluding to Donald Trump and his Chinese counterpart, Xi Jinping, Bessent continued: “We reached [a deal] in Madrid, and I believe that as of today, all the details are ironed out, and that will be for the two leaders to consummate that transaction” during…