US-China trade truce raises hopes of an EU-China reset

In recent months, the European Union has been more Trumpian on China, renouncing part of its free-trade DNA in favour of increasingly protectionist policies. Just like its role model in Washington, the EU has tried to exact geopolitical and economic concessions from Beijing by escalating to de-escalate – a brinkmanship approach that seems to come straight from US President Donald Trump’s playbook in his trade war against China. Advertisement But the recent trade detente reached by Trump and Chinese President Xi Jinping in South Korea is likely to change the…

China’s Xi Jinping says Hainan will spearhead ‘new era’ of opening up

With nearly one month before Hainan, China’s southern island province, launches a separate customs regime, President Xi Jinping has urged officials to ensure the process goes smoothly so the region can spearhead the country’s opening up. Advertisement “The strategic goal of building the Hainan Free Trade Port is to establish it as a significant gateway leading China’s opening up in the new era,” Xi said on Thursday in Sanya, a city in southern Hainan, during his tour of the tropical island. “This is an exemplary move that demonstrates China’s unwavering…

The US can’t force Asian countries into its trade camp

Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Last week’s trade truce between Donald Trump and Xi Jinping has deferred all-out trade conflict between the world’s two great geoeconomic superpowers. But the rivalry remains in lower-profile theatres of combat, including the struggle between Washington and Beijing to pull other countries into their economic orbits. A few days before the summit, the US apparently gained some valuable south-east Asian territory in that particular ground war in the…

Chinese couples crowd the aisle as new policies lead to marriage bounce

China recorded a year-on-year uptick of 8.5 per cent in marriage registrations over the first three quarters of 2025, a rare piece of positive demographic news as the country’s population continues to shrink and rise in average age. Advertisement The increase suggests that a host of recently introduced pro-marriage policies are starting to pay off, but experts cautioned the number of marriages would still decline over the long term as the pool of younger adults dwindles. A total of 5.15 million couples registered for marriage in the first nine months…

China’s Mars orbiter Tianwen-1 snaps image of interstellar visitor 3I/Atlas

China’s Mars orbiter Tianwen-1 has captured a rare snapshot of a mysterious interstellar visitor that has ignited debate among scientists about its origins. Advertisement The object – designated 3I/Atlas – is only the third ever detected entering our solar system, and new images, released on Thursday by the China National Space Administration (CNSA), offer a closer look at the presumed comet. Tianwen-1 snapped the pictures from about 30 million km (18.6 million miles) away on October 3. The object, which was first spotted on July 1 by the Nasa-funded Asteroid…

Diageo cuts sales and profit forecast on lower US and China demand

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Drinks group Diageo has lowered its forecast for sales and profit growth this year as it struggles with reduced demand from consumers in the US and China. The maker of Guinness and Johnnie Walker whisky on Thursday said it expected organic sales growth to be “flat to slightly down” in the year to July 2026, compared with previous expectations of flat sales. Diageo blamed lacklustre spirit demand in China and…

Nvidia CEO Jensen Huang warns China will ‘win the AI race’: report

Advertisement “China is going to win the AI race,” the British newspaper cited him as saying on Wednesday at an event in London. “It’s vital that America wins by racing ahead and winning developers worldwide.” Nvidia CEO Jensen Huang has repeatedly petitioned US authorities to relax restrictions on the company’s AI chip exports, saying that the policy was helping China push forward its own technology. Photo: Shutterstock After becoming the world’s first US$5 trillion company last week, California-based Nvidia’s market cap has receded since then to around US$4.7 trillion. Advertisement…

China’s yuan added to aviation settlements in boost to internationalisation

The International Air Transport Association (IATA) will add the yuan to the settlement currencies available to airlines and aviation suppliers through the industry association’s clearing house, in another boost to China’s efforts to promote the internationalisation of its currency. Advertisement Yuan settlements will be available from next month following the completion of a trial period, the association said in a statement issued on Wednesday, with domestic carriers China Southern Airlines and Xiamen Airlines the first to test the system this month. IATA’s clearing house platform already offers users seven currencies…

Diageo warns of sales and profits hit due to lower US and China demand

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Diageo has warned that sales and profits growth will be lower than forecast as it faces reduced demand from consumers in the US and China. The maker of Guinness and Johnnie Walker whisky on Thursday said it expected organic sales growth to be “flat to slightly down” for 2026, due to lacklustre spirit sales in China and a “weaker” US consumer environment. Diageo also forecast that organic profit growth would…

Singapore bank sets aside record $470mn provision for Hong Kong property loans

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Singaporean lender United Overseas Bank set aside its largest ever loan provision of S$615mn (US$470mn) on Thursday in anticipation of potential losses in the Hong Kong and US property markets. South-east Asia’s third-biggest bank by assets, which traces its roots to Singapore’s Chinese community, said it had spotted “troublesome” areas in its Hong Kong and US commercial property loans and acted “proactively”. “We conducted a thorough review of our portfolio,”…