China to host 2026 Apec meeting in Shenzhen, ‘vigorously’ push AI cooperation

Advertisement The announcement was made on Saturday by Chinese President Xi Jinping as world leaders wrapped up this year’s Apec meeting, held in the South Korean city of Gyeongju. Xi, who was speaking at a handover ceremony, said China would use its role as next year’s Apec host to work with countries to promote growth and prosperity in the Asia-Pacific region. China, he said, would “vigorously” push for cooperation in areas including artificial intelligence (AI) and the digital economy. “Located on the Pacific coast and adjacent to Hong Kong, Shenzhen…

China’s Okinawa remarks challenge militarisation, not sovereignty: analysts

Chinese observers downplayed Beijing’s reference to Okinawans as “indigenous”, saying the comments were primarily a critique of the militarisation of Japan’s southernmost prefecture – home to dozens of US military bases – rather than a challenge to Tokyo’s sovereignty over Okinawa. Advertisement On October 9, China’s deputy permanent representative to the United Nations, Sun Lei, urged Japan to “stop prejudice and discrimination against Okinawans and other indigenous peoples”. Sun made the remarks during a general debate meeting of the Third Committee, the United Nations General Assembly’s principal human rights committee.…

Trump hails ‘lasting’ deal with Xi, dangles more possible tariff cuts

Just back from his whirlwind Asia tour, US President Donald Trump on Friday hailed a newly negotiated trade deal with China as a “long-lasting” victory even as he teased the possibility of more tariff concessions. Advertisement Aboard Air Force One en route to his Palm Beach, Florida, resort, Trump painted the Busan, South Korea, summit with Chinese President Xi Jinping on Thursday as a blockbuster for US agriculture, especially soybeans, and dangled the prospect of stronger trade ties. “The deal with China is going to be wonderful. It’s going to…

Cuts to US ‘fentanyl tariffs’ help Chinese exporters gain on competition

With the US cutting its tariffs on Chinese imports by 10 per cent – halving a duty initially imposed by Washington over allegations of complicity in the fentanyl trade – analysts said the reduction may further strengthen the competitiveness of Chinese exporters, particularly in mass-produced goods. Advertisement Following a meeting on Thursday between President Xi Jinping and US President Donald Trump in South Korea, the world’s two largest economies reached a consensus on the issue, with the US agreeing to remove half of its 20 per cent in fentanyl-related tariffs…

Canada launches C$6.4bn minerals push as race to counter China heats up

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Canada has announced 25 critical minerals investments and partnerships with allies as it races to develop C$6.4bn (US$4.6bn) worth of projects to counter China’s dominance of the global trade. The government on Friday announced the investments and offtake agreements, which would underpin the projects, following two days of talks in Toronto with other G7 countries. Canada’s energy minister Tim Hodgson said Ottawa would use the country’s Defence Production Act to…

China ‘made a real mistake’ by ‘firing shots’ on rare earths, says Scott Bessent

Beijing “made a real mistake” by threatening to shut off exports of its rare earths, US Treasury secretary Scott Bessent has said, insisting the US would secure alternative supplies within two years. Speaking after Donald Trump and Xi Jinping met in South Korea, Bessent told the FT that the US and Chinese leaders had reached an “equilibrium” but warned that China would not be able to keep using its critical minerals as a coercive tool. “I don’t think they’re able to do it now because we have offsetting measures,” he…

PLA releases photo of hypersonic ‘morphing’ missile that changes shape at Mach 5

Chinese military scientists have unveiled a rare glimpse into one of the most advanced frontiers of aerospace technology: a prototype of a morphing hypersonic vehicle capable of flying at speeds exceeding Mach 5. Advertisement The missile, revealed in a published peer-reviewed paper, features a pair of retractable wings – a groundbreaking design that allows it to dynamically adapt its aerodynamic profile mid-flight. When stowed inside the fuselage, the wings minimise drag for high-speed cruising. When extended, they generate additional lift and significantly improve manoeuvrability. Crucially, the degree of wing deployment…

Xi-Carney talks open door for Canada to ‘make up for lost time’ with China

The leaders of China and Canada held their first formal talks since 2017 on Friday, with both sides agreeing to revive exchanges and cooperation in an effort to repair strained ties. Advertisement Chinese President Xi Jinping met Canadian Prime Minister Mark Carney on the sidelines of the Asia-Pacific Economic Cooperation (Apec) summit in Gyeongju, South Korea, telling him that relations showed a “trend of recovery and positive development” following their nations’ mutual efforts. “[China] is willing to work with Canada to take this meeting as an opportunity to bring China-Canada…

US software firm SAS exits China after 25 years, lays off about 400 staff

US software company SAS Institute has withdrawn from mainland China and dismissed its local staff, according to a Beijing-based employee affected by the move, as the analytics specialist ended more than two decades of operations amid intense domestic competition and geopolitical tensions. Advertisement The company on Thursday announced the lay-offs via an email and hosted a short video call, in which executives thanked local employees for their contribution and cited “organisational optimisation” for the exit, according to the employee. “SAS is ceasing direct business operations in China,” an SAS spokeswoman…