Author: Media Library

The trade war between the United States and China has put more than US$140 billion worth of American exports and thousands of jobs at risk, according to a new report by a US business lobby group. Advertisement It said the tit-for-tat tariffs imposed by the two countries are affecting a wide range of industries that support employment in the US – including agriculture, semiconductors, education, travel and aerospace. The report by the US-China Business Council, released in Washington on Tuesday, said the “precipitous decline in US exports to China” was…

Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. China passes private sector law, addressing gripes of beleaguered businesses China passed a much-anticipated law to shore up the country’s private economy on Wednesday, as Beijing delivers on its oft-repeated promise to protect and promote the non-state sector at a time when the Chinese economy looks to hinge more on domestic dynamism to ensure growth amid a trade war with the United States. 2.…

China’s home-grown artificial intelligence talent may be a threat to the United States’ tech dominance, according to a study of DeepSeek by the Hoover Institution, an American think tank. Advertisement China had cultivated a robust domestic AI talent pipeline, as seen in DeepSeek’s research team, whose members were mainly educated and trained within the country, the report said. While around a quarter of DeepSeek researchers gained experience in the US, most returned to China, resulting in a one-way knowledge transfer that strengthened China’s AI ecosystem, it found. “These talent patterns…

US President Donald Trump delivered the worst returns in half a century for American stocks and the dollar during the first 100 days of his second White House term. Advertisement But he may end up making Hong Kong great again as a financial hub, amid renewed interest in Chinese stocks listed in the city. The Dow Jones Industrial Average fell 6.8 per cent in the first 100 days of Trump’s second term, which started on January 20, while the broader S&P 500 Index declined by 7.3 per cent. The US…

Officials from China’s economic powerhouses should keep a close eye on external challenges as the country maps out its grand development plans for the next five years, according to Chinese President Xi Jinping. Advertisement In Shanghai on Wednesday for discussions on shaping the next national five-year plan, Xi told officials from Shanghai, Inner Mongolia and the provinces of Guangdong, Gansu, Sichuan, Zhejiang and Hubei that they had to adapt to international changes to optimise the country’s economic framework. “During the planning period, it is essential to take a forward-looking approach…

With soaring tariffs bringing trade between the world’s two largest economies to an effective standstill, many restaurant owners on both sides of the Pacific are grappling with disruptions to their food supply chains. Advertisement In China, the first to feel the pain were high-end restaurants with American steak and Boston lobsters on their menus. Kurt Wang, a chef at one such restaurant in Beijing, said 30 per cent of its beef was normally imported from the United States. “Beef is the only ingredient that we sourced from the US,” Wang…

China may have only a “limited” role to play amid the escalating India-Pakistan stand-off, as it faces the challenge of balancing itself between the two South Asian neighbours, according to Chinese experts. Advertisement Still, they expect Beijing to help avoid a full-blown confrontation on its doorstep and to safeguard its overseas interests in the region. Relations between New Delhi and Islamabad dramatically soured after a militant attack in Indian-administered Kashmir last Tuesday that killed 26 people, most of them tourists. The tit-for-tat reprisals that followed once again moved the nuclear-armed…

Chinese start-up DeepSeek quietly open-sourced a new specialist artificial intelligence (AI) model on Wednesday, just a day after Alibaba unveiled the third generation of its Qwen family, as competition heats up in the race to advance generative AI capabilities. Advertisement Hangzhou-based DeepSeek uploaded its latest open-source Prover-V2 model to Hugging Face, the world’s largest open-source AI community, without making any announcements on its official social media channels. This comes amid growing anticipation for its new R2 reasoning model, which is expected to launch soon. DeepSeek’s Prover series consists of domain-specific…