Day: January 12, 2026

China is stepping up its efforts to use its vast coal reserves instead of oil to produce plastics and synthetic rubber. Coal can be refined to make olefins – an essential raw material for tens of thousands of chemical products that include plastics, synthetic fibres and rubber. While the mainstream practice is to produce olefins from oil, using coal can bring significant cost savings and might help to reduce the country’s reliance on imported fuel at a time when Donald Trump is seeking to expand US control over the world’s…

Mainland chip designer GigaDevice Semiconductor jumped more than 45 per cent on its first trading day in Hong Kong on Tuesday, as the Beijing-based firm’s debut catered to investor appetite for tech companies amid China’s push for self-reliance. The firm’s shares started trading at HK$235, versus the offer price of HK$162. Its shares closed between HK$224.20 and HK$226.80 on the grey market on Monday evening, helping some investors cash in gains of about 40 per cent before the official debut, data from major brokerages showed. Its Shanghai-listed shares rose 1.6…

Last month, the United States announced its decision to sell advanced weapons amounting to US$11.1 billion to China’s Taiwan region. The authorisation of the largest ever arms package to Taiwan since China and the US established diplomatic relations has seriously violated the one-China principle and the three China-US joint communiqués, severely undermined Chinese sovereignty and security interests, gravely interfered in China’s internal affairs and sent the wrong signals to “Taiwan independence” separatist forces. The Taiwan question is at the very core of China’s core interests and the first red line…

In the daytime the temperature in northern China often stays below freezing, but for many rural villagers the prohibitive cost of heating means that they have little choice but to endure the cold. “We dare not turn on the heating during the day,” one woman from Guan county in Hebei named Wang said. The 75-year-old’s home is around 70km (43 miles) from the centre of Beijing, but running the heating all day would cost between 60 and 90 yuan (US$8-13), an expense that could soar over the course of a…

Distressed Chinese property developer Vanke’s potential debt restructuring constitutes a one-off, technical default, and was not likely to result in contagion effects, according to an HSBC report. The leading mainland developer before it got caught up in the property crisis, Vanke has not yet registered a material default on its domestic bonds. However, two of its key medium-term notes have entered grace periods, and S&P downgraded the company’s long-term issuer credit rating from “CCC-” to “SD” (selective default) in late December. Of the two medium-term notes, a 2 billion yuan…

Foreign and mainland Chinese drug makers are fighting for a multibillion-dollar slice of the domestic weight-loss market by slashing prices by as much as 80 per cent, as China faces a worsening obesity crisis. Competition in the sector, dominated by global pharmaceutical giants Novo Nordisk and Eli Lilly, intensified after both secured obesity-drug approvals in China in 2024. The landscape is set to shift further when the patent on Novo Nordisk’s semaglutide expires in March in China, opening the door for a wave of Chinese generics ready to challenge their…