Author: Media Library

Beijing’s fresh imperative to “invest in people” – first raised in a proposal for the 15th five-year plan and reaffirmed at an agenda-setting policy meeting last week – reflects a rethink in economic strategy designed to stimulate domestic demand and improve social welfare, analysts said. China’s leaders vowed to “fully tap” the domestic economy’s potential at the annual central economic work conference held last week, which laid out their economic policy priorities for 2026. A readout from the meeting said the country must “combine investment in physical assets with investment…

Mannings, one of Hong Kong’s largest health and beauty chains, will cease all retail operations in mainland China, both online and offline, as it adjusts its strategy in the highly competitive market. In a letter to its members, Mannings China said “its physical stores on the mainland will close permanently after January 15, 2026”. Its online sales channels will wind down even earlier. Mannings’ official mini mall on Tencent Holdings’ WeChat will stop service at midnight on December 28, 2025, while its stores on Alibaba Group Holding’s Tmall, JD.com and…

A top scientist has sharply criticised China’s increasingly resource-driven research culture, warning that a reliance on vast accumulated funding, manpower and data for scientific output is inefficient and actively undermines genuine innovation. Zhang Hong, a senior cell biologist at the Institute of Biophysics in Beijing and a member of the Chinese Academy of Sciences, condemned what he called “a vicious cycle” in how life sciences research was increasingly done in China. Projects were inflated for scale, engineered to land in elite journals and then cashed in for titles and even…

MetaX Integrated Circuits soared on its trading debut in Shanghai, as investors piled into the second producer of graphics processing units (GPUs) to go public this month amid optimism about China’s push for self-sufficiency in semiconductors and artificial intelligence. The shares of the Shanghai-based company began trading at 700 yuan on Wednesday on the technology-heavy Star Market, surging 569 per cent from their offer price of 104.66 yuan. That made the five-year-old company the fourth-best trading debut in Shanghai’s stock market this year. The frenzy for MetaX underscores investors’ reaction…

Mainland China’s 17 million Alzheimer’s patients can, for the first time, pay less out of pocket for a costly drug touted as “historic” and “the beginning of the end” for the memory-robbing disease after Beijing launched a commercial insurance innovative drug list in an effort to make medicines more accessible and affordable. Leqembi, developed by Japan’s Eisai and costing a mainland Chinese patient about US$28,400 a year, could see its price cut by half after it was added to the inaugural edition of commercial insurance for innovative drugs unveiled last…

Senior US and Chinese defence officials met in Washington this week in the latest sign of renewed military-to-military communication as the two countries seek to stabilise ties. Alvaro Smith, a deputy assistant secretary of defence for China, Taiwan and Mongolia at the Pentagon, met with China’s Major General Ye Jiang, Deputy Director of the Central Military Commission Office for International Military Cooperation, for the 19th annual US-China Defence Policy Coordination Talks from December 15 to 16, the Pentagon said on Tuesday. Advertisement That was the first face-to-face meeting between the…

It has been a turbulent year for the fraught US-China relationship. In the second story in this new series, we look back at the events of 2025, examining how the trade war tested policymakers and firms, forcing a rethink in business, strategy and supply chains. In April, when US President Donald Trump upended global trade by announcing “reciprocal tariffs” on almost all the country’s trading partners, officials in eastern China’s Ningbo – a national export hub – went on a wartime footing. Across the Pacific, a rare earth importer in…