Year: 2025

Caviar and foie gras? China is becoming a luxury food powerhouse

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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

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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…

More H-1B visa chaos

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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. There is trouble in the neighbourhood, as anti-India protests rock Bangladesh. The agitation in recent days followed the death of a young leader, Sharif Osman Hadi, who was shot during an election rally in Dhaka on December 12. He subsequently died in Singapore. India will be watching developments closely. More positively, New Delhi has concluded talks on a…

ByteDance plans $23bn AI spending spree to keep pace with US rivals

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Stay informed with free updates Simply sign up to the Technology sector myFT Digest — delivered directly to your inbox. TikTok owner ByteDance is set to expand its multibillion-dollar outlay on artificial intelligence next year, as China’s top tech groups seek to keep pace with their US rivals. According to two people with knowledge of the matter, the Beijing-based tech company has made preliminary plans to spend Rmb160bn ($23bn) in capital expenditure in 2026. The figure would represent an increase from the Rmb150bn it invested in AI infrastructure this year.…

‘Is this real?’: wife of detained pastor describes anguish as China cracks down on unofficial churches

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The knocks came at 2am. Hiding out at a friend’s house in a Beijing suburb, Gao Yingjia and his wife, Geng Pengpeng, rushed downstairs to meet the group of plain-clothed men who said they were police officers. Their son, nearly six, was sleeping upstairs, and Gao and Geng wanted to minimise the ruckus. They knew their time was up. Two months later, Gao is in a detention centre in Guangxi province, southern China, charged with “illegal use of information networks”. His arrest was part of the biggest crackdown on Christians…

F-16V fighter jet in ground test as Taiwan presses US and Lockheed Martin for delivery

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F-16V fighter jets ordered by Taiwan are undergoing ground tests in the United States, as Washington and the American contractor come under pressure to speed up deliveries following criticism of repeated delays. Photos circulating online in recent days showed at least one Taiwan-bound F-16V Block 70 two-seat aircraft during taxi and systems checks at a US airfield, offering the clearest public indication yet that the long-delayed programme had entered a substantive testing phase. Images of the jet bearing the tail number 6831 taxiing at Greenville–Spartanburg International Airport in South Carolina…

Chinese team slams rival into glass wall, as sparks fly at robot showdown in Abu Dhabi

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A Chinese combat robot tore through the competition at the Games of the Future Abu Dhabi 2025 on Sunday, sealing the Battle of the Robots title in a shower of sparks after slamming its rival into the glass wall of the arena. The robot, dubbed Deep-Sea Shark 3, was built by a China-based student team calling itself Fierce Roc, which was crowned champion, according to organisers. The contest was staged as part of a multi-sport festival of so-called “phygital” games – sport that blends real-world competition with digital or esports-style…

China says US broke international law by seizing Venezuelan oil tankers

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China accused the United States on Monday of violating international law by seizing oil tankers off Venezuela, as Washington intensified pressure on President Nicolas Maduro’s government and a senior US official openly suggested that he should be removed from power. At a regular press briefing in Beijing, Chinese Foreign Ministry spokesman Lin Jian said the United States “seriously violated international law” by intercepting foreign vessels and reiterated China’s opposition to unilateral sanctions and coercive measures. “The US practice of arbitrarily seizing other countries’ vessels seriously violates international law,” Lin said.…

China’s steel export licensing plan shows will to curb trade frictions

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China recently announced it would impose an export licensing regime on around 300 steel products starting January 1. The move, while seemingly technical, sends a clear signal Beijing is attempting to address a key source of trade friction with its emerging market partners. To understand the policy’s intent, it needs to be placed in the broader context of China’s trade position this year. As global trade protectionism intensifies, China’s exports have shown remarkable resilience. Even as shipments to its largest export destination, the United States, fell by 18.3 per cent…