Emmanuel Macron came back from China in early December empty-handed. The French president’s appeal to his Chinese counterpart, Xi Jinping, to help stop the war in Ukraine was never going to gain traction given Beijing’s unqualified support for Russia. Urging Xi to address China’s surging trade surplus, the result of the country’s economic and industrial policies, predictably also fell on closed ears. In any event, Xi’s main concerns were the imminent final politburo meeting of the year and the annual Central Economic Work Conference (CEWC) that followed. Centre stage was…
Year: 2025
What China’s yuan internationalisation push looks like – and what may hold it back
The yuan has strengthened in recent months, with the offshore rate hitting its highest level against the US dollar in more than a year, fuelling forecasts that it could reach as high as 6.8 in 2026. The currency’s international profile has also inched upwards as Beijing pushes for wider global use. In this explainer, the Post reviews the yuan’s progress across several fronts, drawing on a recent analysis by Betty Wang, head of North Asia research at Oxford Economics. How far has the yuan advanced internationally? The yuan has seen…
The best of the long read in 2025
Victor Pelevin made his name in 90s Russia with scathing satires of authoritarianism. But while his literary peers have faced censorship and fled the country, he still sells millions. Has he become a Kremlin apologist? At 18, Mustafa was told his only way out of prison was to join the regime forces. After 14 years, his past as one of Assad’s fighters could get him killed When fossilised remains were discovered in the Djurab desert in 2001, they were hailed as radically rewriting the history of our species. But not…
US drops plan to deport Chinese man who helped expose abuse of Uyghurs in Xinjiang, say activists
Decision comes amid growing public support for Guan Heng – who secretly filmed detention facilities in China – after he illegally entered US by boat The Department of Homeland Security has dropped its plan to deport a Chinese national who entered the country illegally, two rights activists have said, after his plight raised public concerns that if deported the man would be punished by Beijing for helping expose human rights abuses in China’s Xinjiang region. Rayhan Asat, a human rights lawyer who assisted in the case, said Guan Heng’s lawyer…
China drafts law on activities and environment protection in Antarctica
China has drafted a law on Antarctic affairs, as Beijing looks to protect its interests and strengthen its role in the governance of the southernmost continent. The draft “Antarctic Activities and Environmental Protection Law” was submitted to the Standing Committee of the National People’s Congress, the country’s top legislature, on Monday for the first review, state media reported. “The legislation on Antarctic activities and environmental protection will help better coordinate, manage and regulate Antarctic-related activities … and will also provide strong legal support for China’s participation in global Antarctic governance,”…
Russian LNG shipments to China surge 143% in November, overtaking Australia
Russia’s shipments of liquefied natural gas (LNG) to China soared last month, consolidating Moscow’s role as the top energy supplier to the world’s second-largest economy even in the face of Western sanctions. Imports of LNG from Russia surged 142.6 per cent, year on year, to 1.6 million tonnes, displacing Australia to become one of China’s top two biggest suppliers alongside Qatar last month, according to the latest customs data. Russian LNG accounted for 23.5 per cent of China’s total shipments in November, more than doubling its 11 per cent share…
Russia and China pledge support for Venezuela as Trump ratchets up pressure on Maduro
China and Russia have expressed support for Venezuela as it confronts a US blockade of sanctioned oil tankers, while Donald Trump continues to ramp up his pressure campaign on the South American country’s president, Nicolás Maduro. Amid reports of slowing activity at Venezuelan ports, the US president again called for Maduro to leave power, and reiterated that the US would keep or sell the oil it had seized off the coast of Venezuela in recent weeks. Asked if the goal was to force Maduro from power, Trump told reporters: “I…
Second reusable rocket recovery failure in a month puts China 10 years behind US
The Long March 12A, China’s first state-owned reusable rocket, made its debut launch on Tuesday morning but the recovery of the first stage was a failure. It was China’s second failed bid this month to return an orbital-class booster to Earth, a feat that has so far only been achieved by the US. The second stage of the rocket entered its predetermined orbit after its launch at 10am, according to Chinese state news agency Xinhua. Advertisement The reusable rocket, designed by the Shanghai Academy of Spaceflight Technology under the China…
Caviar and foie gras? China is becoming a luxury food powerhouse
China is becoming an increasingly powerful producer of luxury foods, supplying domestic consumers with once-rare delicacies and in some cases breaking into overseas markets. The world’s second-largest economy now accounts for the majority of global production and exports of caviar. It has surpassed Australia, from whom it originally imported macadamia trees, to become the second-biggest producer of macadamia nuts. China is also stepping up the farming of cherries and sale of wild truffles and produces thousands of tonnes of foie gras a year. “[Previously], many consumers who could afford it…
Global firms turn to M&A in EVs and biotech to deepen China investment: KPMG
Three in four multinational corporations (MNCs) operating in mainland China have maintained or increased their investments in 2025, according to a recent KPMG survey, despite Washington stepping up efforts to decouple from Beijing and its allies following suit. The survey published on Monday, polling 137 senior executives from global companies operating in the world’s second-largest economy between June and September, revealed that only 1 per cent reported preparing to exit the market. About 20 per cent said they may reduce investment, while the rest had yet to decide. Companies planning…