Author: Media Library

China and Saudi Arabia pledge deeper hi-tech cooperation despite US pressure

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Saudi Arabia has pledged to deepen hi-tech cooperation with China in areas such as new energy and artificial intelligence (AI). “Saudi Arabia is willing to further deepen cooperation with China in areas including oil and gas, new energy, artificial intelligence and high technology, to bring greater benefits to the peoples of both countries,” Crown Prince Mohammed bin Salman said, according to China’s Ministry of Foreign Affairs. The pledge comes at a time when the kingdom is facing growing scrutiny from the United States over its technology cooperation with Beijing. Advertisement…

China accuses Philippines of ‘premeditated’ provocations near Sabina Shoal

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Beijing has accused Manila of organising a “premeditated” provocation and dangerous manoeuvres near a disputed reef in the South China Sea, and Washington of making false statements that have escalated tensions in the region. Manila said Philippine fishing boats near Sabina Shoal had been targeted with water cannons by Chinese coastguard ships in an incident on Friday, while Beijing said Philippine personnel had threatened Chinese officers with knives. Chinese foreign ministry spokesman Guo Jiakun said on Monday that the Philippines had assembled a large number of vessels “in an organised…

US backs $7.4bn critical minerals smelter to counter China

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US has backed a $7.4bn investment in a critical minerals processing plant to be built by Korea Zinc as Washington tries to counter China’s dominance over the supply chain for strategic metals. Korea Zinc, the world’s biggest zinc smelter, said the US government had asked the company to build the facility to address growing supply-chain risks for materials essential to industries from cars to defence. The plant will produce…

China investment decline deepens as Xi attacks ‘reckless’ spending

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Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. Chinese investment declined further last month while retail sales weakened sharply, as President Xi Jinping launched an unusually blunt attack on “reckless” government spending that Beijing believes is constraining growth in the world’s second-biggest economy. Fixed asset investment declined 2.6 per cent for the January-November period on a year earlier, the National Bureau of Statistics reported on Monday, a steeper fall than the 2.3 per cent decline forecast by a…

‘Hero’ who tackled Bondi gunman draws global praise

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. <div data-o-component="o-expander" class="o-expander o-expander__info-box" data-o-expander-shrink-to="hidden" data-trackable="clip-info-box" data-o-expander-collapsed-toggle-text="Show video info” data-o-expander-expanded-toggle-text=”Hide video info“>Show video info Australia’s leaders have praised the “hero” bystander who tackled a gunman and disarmed him during the attack on a Jewish event on Bondi Beach, an action which they said saved lives. Footage of the incident showed a man, later identified as 43-year-old Ahmed al Ahmed, springing on the gunman from behind a parked car. The attacker…

Roomba maker iRobot files for bankruptcy

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Roomba maker iRobot has filed for bankruptcy and will be taken over by its Chinese supplier, marking the end of a company that popularised the robot vacuum cleaner but fell under the weight of competition from cheaper rivals. The US-listed group on Sunday said it had filed for Chapter 11 bankruptcy in Delaware as part of a restructuring agreement with Shenzhen-based Picea Robotics, its lender and primary supplier, which will…

Roomba maker iRobot swept into bankruptcy

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Roomba maker iRobot has filed for bankruptcy and will be taken over by its Chinese supplier after the company that popularised the robot vacuum cleaner fell under the weight of competition from cheaper rivals. The US-listed group on Sunday said it had filed for Chapter 11 bankruptcy in Delaware as part of a restructuring agreement with Shenzhen-based Picea Robotics, its lender and primary supplier, which will acquire all of iRobot’s…

What does the Jimmy Lai verdict mean for Hong Kong?

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Media tycoon and pro-democracy advocate Jimmy Lai has been found guilty of foreign collusion following a landmark trial in Hong Kong. Lai was arrested in 2020 under the national security law imposed by Beijing in response to huge pro-democracy protests. Critics say the law has been used to crack down on dissent, although Beijing and Hong Kong defend it as necessary to maintain stability. Here’s everything you need to know about the case, and what the outcome means for Lai, and Hong Kong. Video by Kellie Highet and Meiqing Guan…

Worldwide sperm quality decline: can an easy-to-use balm from China solve the crisis?

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In an attempt to solve the global fertility crisis, Chinese scientists have developed a balm for testicles they say can boost sperm activity. The lotion they developed for external application significantly enhanced sperm quality in both animal trials and in vitro studies, regardless of whether the decline in function was caused by exposure to heavy metals, plasticisers, heat stress or natural ageing, the researchers said. The study, conducted by researchers from several domestic institutes, including the Institute of Reproduction and Development at Fudan University and the Third Military Medical University…

China’s currency comeback: yuan seen as strong as 6.8 in 2026, breaking key dollar level

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China’s currency appears poised to break through the psychological 7.0-per-dollar barrier next year, fuelled by US Federal Reserve rate cuts and thawing trade tensions, with some bulls betting that the yuan could strengthen to 6.8. Analysts and onlookers are increasingly optimistic, with some citing the potential for a relatively weaker US dollar and pointing to signs that Beijing’s policy support is stabilising the world’s second-largest economy. Guan Tao, a former senior official with China’s foreign exchange regulator, said key drivers include Fed easing and the prospect of stable China-US trade…