Month: March 2026

The Guangdong-Hong Kong-Macau Greater Bay Area (GBA) is lagging behind China’s national average in basic research, despite showing strong potential in sectors such as semiconductors and smart manufacturing, according to Deloitte. The cluster of cities in southern China, which included Shenzhen, spent about 28.9 billion yuan (US$4.2 billion) on basic research in 2024, accounting for just 5.67 per cent of total spending in research and development (R&D), the consulting firm said in a report released in Hong Kong on Thursday. That compared with a national average of 6.9 per cent,…

US President Donald Trump denied on Thursday that he was desperate for a deal with Iran, swinging between threats and diplomacy, while presenting a series of “boats of oil” that reportedly made it through the blocked Strait of Hormuz as an Iranian “gift” – a reveal that he teased a day earlier. This comes as the war he and Israel launched against Iran approaches the one-month mark with little end in sight, driving oil prices up globally and further unsettling the global economy. “I read a story today that I’m…

The scramble in Asia to secure Russian energy supplies – coupled with the temporary lifting of US sanctions – in the wake of the war in Iran has created a growing sense that Moscow might prove the main winner from the conflict. Earlier this week, Russian President Vladimir Putin told a meeting of oil and gas suppliers that they should use the “additional revenues” generated by the spike in energy prices as a result of the war and the effective blockade of the Strait of Hormuz. Putin has also benefited…

Beijing is probably sighing with relief following US President Donald Trump’s postponement of his visit to China for “a month or so”. Initially, Trump had tried to threaten China for not joining a proposed naval escort campaign in the Strait of Hormuz, but quickly changed his tone after recognising the absurdity of such a demand. Not even the United States’ closest allies are willing to lend a hand. However, Beijing is even more frustrated with Washington’s lack of clarity and Trump’s hazy agenda for what he wants to accomplish on…

China warned Mexico on Thursday it could impose retaliatory measures after concluding a formal investigation into tariffs Mexico imposed on more than 1,400 categories of Asian goods, in a dispute that threatens to complicate Mexico City’s parallel negotiations to renew its trade agreement with the United States. China’s Ministry of Commerce (MOFCOM) said the tariffs, which range from 5 to 50 per cent on 1,463 product categories in force since January 1, restrict the entry of Chinese goods,… South China Morning Post

Donald Trump’s planned visit to China in May may offer some clues about the preferred US road map for ending the war with Iran, according to Chinese analysts, who said that if the conflict dragged on, it could play into Beijing’s hands. China has yet to confirm the dates and on Thursday foreign ministry spokesman Lin Jian said only that the two sides were “in communication” about the visit. Advertisement Ma Xiaolin, an international relations specialist at Zhejiang International Studies University, said Trump may see the new dates as a…

Britain’s decision to block a £1.5 billion (US$2 billion) plan by Chinese clean energy giant Mingyang to build the UK’s largest wind turbine factory in Scotland highlights the mounting challenges of doing business with China in an era of deepening global mistrust, analysts said. The move was likely the result of direct pressure from Washington, a source familiar with the matter said on Thursday. The US-Israeli war in Iran and the subsequent energy crisis had raised hopes for the project to be approved, but “political considerations, including geopolitical pressures, had…