China’s Economy Starts to Show Cracks From Iran War

Rising oil and natural gas prices from the war in Iran are beginning to weigh on the Chinese economy, further slowing already anemic consumer spending and hurting critical export sectors. Car sales fell in March and plunged further in April. Restaurants and hotels are seeing fewer customers as households turn cautious. In southern China, thousands of toy factory workers protested last week after their employer collapsed under rising plastic costs and ongoing tariffs in the United States. The emerging signs of strain underscore how even China, with vast strategic oil…

Taiwan completes US tank deal as final Abrams shipment reaches port

Taiwan has received its final shipment of US-made M1A2T Abrams tanks, completing a long-delayed order aimed at modernising the island’s ageing armoured forces. Considered among the world’s most powerful tanks, these vehicles are expected to bolster the island’s defence amid rising military pressure from Beijing. The shipment of 28 tanks arrived at the Port of Taipei over the weekend and was moved overnight under police and military escort to the army’s Armour Training Command in Hsinchu county’s Hukou township, according to Taiwan’s defence ministry. Advertisement Ministry officials said the tanks…

Pakistani president seeks to bolster ‘full spectrum’ of ties with China on visit

Zardari arrived in China on Saturday. The Pakistani foreign ministry said he would be visiting Changsha in the central province of Hunan before heading to Sanya in the southern island province of Hainan on Tuesday, where he would stay until heading home on Friday. “During the visit, the president will hold meetings with provincial leadership to review the full spectrum of Pakistan-China ties, with particular focus on economic and trade cooperation as well as the China-Pakistan Economic Corridor,” the ministry said, referring to the flagship project of the Beijing-led multinational…

PLA showcases YJ-20 hypersonic missiles as Balikatan drills heat up South China Sea

China Military Bugle, a social media account run by the People’s Liberation Army, posted a video on Sunday of the PLA Navy conducting strike tests at sea, including multiple YJ-20 launches. The post did not specify when and where the missiles were fired. However, the footage was released two days after Beijing said a naval fleet led by Type 055 destroyer Zunyi had “recently conducted” live-fire drills and joint air-sea exercises in waters east of Luzon, a Philippine island near Taiwan. Advertisement While some of the footage matched video released…

Territorial integrity is ‘red line’ for Europe, Finland warns after US Greenland threats

Europe’s territorial integrity is a “red line” in Finland’s relations with the United States and other powers, according to Foreign Minister Elina Valtonen. “I can only say that certainly territorial integrity is the red line. “We defend the UN Charter, the territorial integrity of nations and sovereignty, and if need be, then we have to react through the means which we have at hand,” she told the South China Morning Post when asked about Greenland. Donald Trump seriously damaged relations with… South China Morning Post

China blocks $2bn Meta takeover of AI agent developer Manus

China has blocked Meta’s $2bn (£1.5bn) acquisition of an AI startup as it cracks down on US investments in domestic tech companies. Mark Zuckerberg’s Meta, the owner of Facebook, Instagram and WhatsApp, announced the acquisition of Manus, a developer of autonomous AI agents, in December. However, the Chinese National Development and Reform Commission (NDRC) said on Monday it had cancelled the takeover. In a statement, China’s top economic planning body said that it will “prohibit the foreign investment in the acquisition of the Manus project” and “requires the parties involved…

China industrial profits hit 6-month high amid Iran war as factory-gate prices rebound

Profit growth at China’s industrial firms accelerated to a six-month high in March, as long-suppressed factory-gate prices turned positive amid disruptions from the Iran war. Total profits for China’s major industrial enterprises – those with annual revenues greater than 20 million yuan (US$2.93 million) – grew by 15.8 per cent last month, the fastest rate since September, according to data released by the National Bureau of Statistics (NBS) on Monday. Profits in the first quarter reached 1.696 trillion yuan (US$248 billion), a year-on-year rise of 15.5 per cent – far…

Weather tracker: Torrential rain in southern China leads to flooding fears

Widespread heavy rain is sweeping over southern China. By Wednesday, rainfall totals are expected to exceed 100mm across many parts of Guangxi, Guangdong, Fujian, Zhejiang, Jiangxi and Hunan provinces, and in some areas as much as 150-200mm. As a result, the Office of the State Flood Control and Drought Relief Headquarters and the Ministry of Emergency Management have been holding meetings with meteorological and hydrological departments to emphasise the importance of reinforced patrols and emergency responses to mitigate against the probable flooding that the intense rainfall is expected to bring.…

China delivers record LNG carrier as shipbuilding rivalry with South Korea intensifies

China has delivered its largest-ever liquefied natural gas (LNG) carrier, bringing the number of domestic shipyards capable of designing and building the advanced vessels to five, as the country steps up its challenge to South Korea’s dominance in the high-value sector. The milestone was marked by China Merchants Heavy Industry (Jiangsu), a subsidiary of China Merchants Group, which delivered the 180,000-cubic-metre (6.36-million cubic-feet) vessel on Sunday, according to a company press release. Construction on the 298.8-metre-long (980-foot-long) ship, named Celsius Georgetown, began in October 2023 as the first of six…

The Rising Chinese Automaker Not Named BYD

Each April, the world’s top auto executives and engineers fly to China’s main auto show to take stock of BYD, the electric car powerhouse that passed Tesla in global sales last year. But at the Auto China event now happening in Beijing, another name is commanding attention: Zhejiang Geely Holding Group. In an unexpected development, Geely beat BYD in sales in the first two months of the year and is rapidly broadening its lineup. Geely is now pushing overseas, more than doubling exports to Europe, the Middle East and elsewhere…