Expansion of carried interest regime could mean zero levies on performance fees at hedge fundsFinancial Times
Day: March 25, 2026
China’s weight-loss drug makers take on global giants as Novo Nordisk patent expires
At least 10 weight-loss injections and oral pills are lining up for regulatory approval in China, in a market projected to reach about US$14 billion by 2030. Novo Nordisk’s blockbuster semaglutide, which generated about US$35 billion in global revenue last year, lost patent protection in China on March 20, clearing the way for rivals. The rush comes as China’s drug regulator accelerates approvals of innovative therapies, helped by a surge in out-licensing deals with global pharmaceutical giants. Advertisement Notable applicants included Hengrui Medicine, China’s largest listed pharmaceutical firm by revenue,…
Euro, Chinese yuan to end US dollar dominance, top economist says
South China Morning Post
Chinese satellite performs landmark refuelling test in low Earth orbit
A Chinese commercial satellite has completed a refuelling test in low Earth orbit using a flexible “octopus tentacle” robotic arm, advancing efforts to extend spacecraft lifespans and develop in-orbit servicing abilities. The Hukeda-2, or Yuxing-3 06, demonstration satellite used its flexible arm to carry out compliance control and refuelling tests after blasting off from Jiuquan in China’s northwestern Gansu province last week, state broadcaster CCTV reported on Tuesday. The arm can curl, twist and wrap around objects to work in tight, complex spaces, with a nozzle-like tip at one end…
Trump’s trip to meet Xi Jinping in China rescheduled for May due to Iran war
Donald Trump will meet Xi Jinping in May during the US president’s first visit to China in eight years, a closely watched trip that had been postponed due to the Iran war. Trump was initially slated to travel next week, but will now visit Beijing on 14 and 15 May, he wrote in a post on Truth Social on Wednesday. Trump said he would host the Chinese leader in a reciprocal visit in Washington later this year. Trump wrote: “Our Representatives are finalizing preparations for these Historic Visits. I look…
Iran war could boost China’s ‘petroyuan’ and weaken US dollar dominance, analysts say
The US-Israeli war in Iran could weaken the US dollar’s historic dominance in the oil-rich Middle East and bolster a “petroyuan” alternative backed by China’s currency, according to analysts at a leading European bank. Fallout from the nearly month-long conflict was testing the “foundations of the petrodollar regime”, while damage to Gulf economies “could encourage an unwind in their foreign asset savings”, Deutsche Bank analysts said in a research note published on Tuesday. “If the Gulf moves closer to Asia in its trade and investment relationships and eventually prices less…
Chinese nationals, companies charged in US with smuggling AI chips and drug trafficking
In two different cases on Wednesday, United States authorities charged Chinese nationals on offences ranging from conspiring to smuggle advanced AI chips to China to drug trafficking and money laundering. The cases came on the same day US President Donald Trump announced new mid-May dates for his highly anticipated summit with China. The developments come as the two countries continue to compete over global leadership in artificial intelligence, and as Washington continues to accuse Beijing of playing a key role in the global fentanyl supply chain. In one case, the…
Why China’s strategy to stay out of Iran war is working – and crisis may spur opportunity
Beijing’s long-standing geopolitical playbook – stay in your lane, avoid military entanglement, prepare exhaustively and issue bland “win-win” statements about the UN charter and calls to talk not fight – could see China emerge favourably from the Iran war, said economists, analysts and former US officials, as the conflict enters its fourth week with little end in sight and the US barrelling ahead. “People always say that China doesn’t understand the Mideast,” said Jeremy Chan, senior analyst with the Eurasia Group. “Maybe China understands it wants to stay as far…
Asian-Americans say they are still seen as foreign, study finds
Like many Asian-Americans, US-born Tiffany Chin has faced her share of slights, including being treated as “other” or “foreign” and judged at times by her race rather than her accomplishments. Growing up outside Chicago, she recalls that in primary school her musical talents were attributed to her “Chinese genes”, and she was told, “you’re probably so good at maths because you’re Asian”. And as an adult on a family trip to Florida, people gave her nasty looks when she went jogging, wondering… South China Morning Post
Xi-Trump summit: White House locks in new dates in May
After weeks of speculation and behind-the-scenes intrigue over the delayed summit between President Xi Jinping and US President Donald Trump, the White House announced on Wednesday new dates for the long-anticipated, high-stakes meeting. “I’m pleased to announce that President Trump’s … long-awaited meeting with President Xi in China will now take place in Beijing on May 14 and 15,” White House spokeswoman Karoline Leavitt said. In a social media post, Trump described Xi as “the highly respected… South China Morning Post