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India’s bid to rival the Chinese navy
Day: December 18, 2025
China’s heat pump tech, Tokyo clarifies Taiwan stance to Beijing: SCMP’s 7 highlights
We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. China’s ultra-hot heat pump breakthrough paves way for melting ore with sunlight For over a century, the dream of efficiently concentrating low-grade heat into high-temperature industrial energy has been constrained by a stubborn ceiling: 200 degrees Celsius (392 degrees Fahrenheit). Now, a team from China…
TikTok says Chinese owner will retain core US business
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Japan raises interest rates to highest level in 30 years
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The Bank of Japan has raised short-term interest rates to the highest level in 30 years, as rising prices transform an economy that spent decades mired in deflation. In a statement on Friday, the BoJ said it was raising its policy rate by 0.25 percentage points to “around 0.75 per cent”. The rate increase was the fourth since governor Kazuo Ueda took the helm of the central bank in 2023.…
China urged to win ‘hearts and minds’ to fill global leadership void as US retreats
As the United States undergoes a strategic shift in its global priorities, experts in China are pushing Beijing’s vision for a new world order – but they say the country must improve its messaging. Leading political scientist and government adviser Zheng Yongnian said China had two guiding principles: maintaining its agency while engaging with the world; and extending the ladder it climbed to help other nations ascend. Zheng made the remarks on Tuesday at the International Forum on Mutual Learning Among Civilisations, hosted by the Macau government. Advertisement In an…
India’s parliament clears full foreign ownership in insurance
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 IPO frenzy is continuing right till the end of the year. Meesho’s shares have almost doubled since the online retailer listed on the exchanges last week. Tomorrow is another big one: ICICI Prudential’s $1.2bn share sale, which received $33bn in bids, will debut in the markets. In today’s newsletter, as we wind down towards the end of…
TikTok signs Trump-backed deal to sell US entity to American investors
TikTok has signed a deal to sell its US business to three American investors – Oracle, Silver Lake and MGX – ensuring the popular social video platform can continue operating in the United States. The deal is expected to close on 22 January, according to an internal memo seen by he Associated Press and Reuters. The TikTok chief executive officer, Shou Zi Chew, said in the memo that ByteDance and TikTok have signed binding agreements with the three investors. The new TikTok US joint venture will be 50% held by…
China boosts AI chip output by upgrading older ASML machines
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. China’s semiconductor manufacturers are upgrading their advanced chipmaking equipment in ways that bypass global export controls, as the country seeks to rival the US in developing artificial intelligence. According to people familiar with the matter, Chinese fabrication plants producing advanced smartphone and AI chips have bolstered the performance of advanced deep ultraviolet lithography (DUV) machines made by Netherlands-based ASML. US and Dutch export controls prevent ASML from supplying its most…
Dashed dreams and land grabs: The rise of rural protests in China
Standing inside the temple armed with buckets of rice, the villagers gaze out at police officers armed with riot shields and sticks, the sound of shouting audible over banging drums. Then the tension erupts. A scuffle breaks out, some villagers throw handfuls of rice at the officers, a traditional custom for dispelling evil, while others hoist religious artefacts onto their shoulders and march away, past groups of police and other officials. The showdown happened last month, apparently caused by the planned demolition of a small local temple in a village…
China’s pharmaceutical sector moves into the big leagues as a global innovation powerhouse
China is gaining a solid reputation as a pharmaceutical innovation hub, shifting from a copycat drug maker to one whose infrastructure and research and development capabilities rival global pharmaceutical behemoths, according to a global consultancy. US-based SAI MedPartners and its unit Idea Pharma recently launched a new index with the aim of highlighting Chinese drug makers and recognising their shift from generics to “true” innovation. The consultancy released the China Pharmaceutical Innovation and Invention Index (CPIII) on December 7 as a stand-alone ranking for the first time, after 14 years…