Stay informed with free updates Simply sign up to the Capital markets myFT Digest — delivered directly to your inbox. Global markets slid on Friday as a sell-off in the US spread to Asia, while concerns mounted over high valuations of companies and growing doubts about whether the Federal Reserve would cut interest rates at its next meeting. The tech-heavy Nasdaq Composite closed 2.3 per cent lower and the S&P 500 lost 1.7 per cent on Thursday in the US over tech jitters from the boom in artificial intelligence. South…
Day: November 13, 2025
China lets fly world’s largest kite in Inner Mongolia to generate electric power
China has successfully deployed the world’s largest power-generating kite, capable of harnessing the potential of energy-dense, high-altitude winds to provide cheaper power than traditional surface turbines. Advertisement The 5,000 square-metre (53,820 square-foot) high-altitude wind power capture kite was unfurled at a test site at Alxa Left Banner in the Inner Mongolia autonomous region on Wednesday, according to state broadcaster CCTV. Resembling a parachute, the power-generating kite was developed by the China Energy Engineering Corporation as part of the country’s first national research and development project for high-altitude wind power. Tethered…
China house prices decline by most in a year
Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s house prices have declined by the most in a year, while industrial production and investment figures both missed expectations, underlining pressure on policymakers to maintain growth in the world’s second-largest economy. New home prices fell 0.45 per cent in October from the previous month, the most since October last year and greater than a 0.4 per cent decline in September, according to data released by China’s National Bureau of…
Xi’s military purge raises doubts about China’s war readiness
When Xi Jinping presided over the lavish commissioning of China’s newest aircraft carrier this month, three officers expected to be crucial to the naval chain of command were strangely absent. State television footage showed no sign of navy commander Admiral Hu Zhongming or Admiral Wu Yanan, commander of the southern theatre that includes the island of Hainan where the commissioning took place. The regional command’s political commissar Admiral Wang Wenquan was also missing. The absences came amid a new wave of removals of People’s Liberation Army officers by Xi that…
China’s economy mixed in October as fixed-asset investment declines further
China’s economic indicators posted mixed results in October as markets were gripped by uncertainty ahead of the late-month summit between the US and Chinese presidents. Advertisement National fixed-asset investment fell by 1.7 per cent, widening from the 0.5 per cent drop recorded in the first nine months and underperforming Wind’s forecast of a 0.71 per cent decrease. Retail sales, a major gauge of consumer spending, grew by 2.9 per cent year on year in October, according to data released by the National Bureau of Statistics (NBS) on Friday. The figure…
Stranded Chinese astronauts to return to Earth aboard new crew’s spacecraft
Three astronauts on board China’s Tiangong space station – whose launch back to Earth was delayed last week after suspected space debris struck their vessel – are set to make their return on Friday on the new crew’s spacecraft. Advertisement The Shenzhou-20 crew are expected to land at the Dongfeng Landing Site in the Inner Mongolia autonomous region on Friday aboard the Shenzhou-21 spacecraft, the China Manned Space Agency said. The CMSA said all three astronauts – Chen Dong, Wang Jie and Chen Zhongrui – were in good health and…
India’s private sector wants government to spend more
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 Indian government has classified the Delhi car explosion as a “terror incident perpetrated by anti-national forces”. The death toll from Monday’s explosion is now 13, according to local media. Tensions in the region are high, with Pakistan on Tuesday accusing India of pursuing “state terrorism” after a suicide car bombing killed at least 12 people outside a…
China’s first 076 ‘drone carrier’ amphibious assault ship begins sea trials
China’s first drone-carrying Type 076 amphibious assault ship, the Sichuan, began sea trials on Friday, after its launch in December last year, according to state news agency Xinhua. Advertisement The ship is seen as a key asset for the PLA Navy’s unmanned aerial vehicle (UAV) operations because of its electromagnetic catapult launch system and is often described as the world’s first drone carrier. The sea trial will test the reliability and stability of the engine and power system, Xinhua said. Named after the southwestern Chinese province and bearing the hull…
China’s chief space contractor readies plans for tourism programme
As companies like SpaceX and Blue Origin make headlines for sending non-astronauts into space on pricey private tours, a Chinese state firm is expected to unveil its own space tourism programme this week, joining other domestic enterprises as they attempt to make headway in the rapidly emerging – and US-dominated – market. Advertisement China Aerospace Science and Technology Corp (CASC), the primary contractor for the country’s space programme, will unveil details of its inaugural tour at the China Hi-tech Fair, which opens on Friday in the southern tech hub of…
US must deny China cutting-edge technology, ex-commerce secretary says
One of the architects of former US President Joe Biden’s tech export controls warned on Thursday that Washington needs better coordination with allies to deny China access to high-end chips and cutting-edge products, criticising a plan by US President Donald Trump’s administration to allow sales of certain Nvidia chips. Advertisement Citing Beijing’s massive spending on efforts to establish China’s technological leadership, former commerce secretary Gina Raimondo said in a panel discussion at the Council on Foreign Relations that the US government should do it in a more precise way to…