Seeking to blunt China’s dominance over critical minerals that underpin hi-tech manufacturing, the administration of US President Donald Trump is rolling out a slate of measures this week aimed at reducing US reliance on Beijing. A White House official has confirmed to the South China Morning Post that Trump will be launching a US$12 billion public-private initiative to build a large commercial stockpile of critical minerals titled “Project Vault”. The project is being billed as a strategic reserve designed to shield US manufacturers from supply disruptions and price volatility in…
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More overseas Chinese grads return, as brain gain powers future of home-grown frontiers
Defying a tight domestic job market, a record wave of overseas graduates is flooding back to China, eager to snatch up opportunities in its fast-growing tech and advanced manufacturing sectors. The influx, up 12 per cent in 2025 to an eight-year high, signals “determined confidence” among globally trained talent, according to findings by job-recruitment platform Zhaopin. And the robustness of this homecoming trend, at 2.25 times the 2018 level, points to a “sustained trend” in domestic opportunities, the platform said in a report last week. Despite hiring demand remaining concentrated…
Trump’s peace board no match for UN and a possible boon to China, analysts find
US President Donald Trump’s Board of Peace is unlikely to pose a credible challenge to the United Nations, analysts say. They also warn that legal ambiguity, as well as doubts over credibility and funding, make the initiative’s long-term viability uncertain. Beijing was likely to respond cautiously but might also see some advantages if Washington’s attention was diverted elsewhere, leading to China potentially taking on a more proactive role in some regional security matters, they said. Advertisement The peace board concept was first laid out in Trump’s 20-point Gaza ceasefire plan…
Red packet rumble: will Tencent’s cash giveaway work again in crowded AI market?
Chinese tech giant Tencent Holdings aims to replicate the success of WeChat Pay by splashing cash for its artificial intelligence app Yuanbao, but analysts are sceptical about whether subsidies can move the needle in the increasingly crowded market. Yuanbao’s 1 billion yuan (US$144 million) promotional campaign, which gives out cash through digital red packets to drive adoption, kicked off with a high-profile launch on Sunday, as many users woke up to find their WeChat groups flooded with referral links to the AI app. Tencent is aiming to stir up the…
TikTok’s new owners, eyes on Greenland, US farmers’ plight: 7 US-China relations reads
We have selected seven of the most interesting and important news stories covering US-China relations from the past few weeks. If you would like to see more of our reporting, please consider subscribing. 1. Trump sells tariffs as farmers’ win in Iowa, but many aren’t buying it Photo: Randall Shelby In January, US President Donald Trump said farmers were “going to be the biggest beneficiary” of his tariff policy, even if it was “going to take a little while to kick in”. But many remained anxious that they could once…
Why Chinese electronics makers are betting on a TV revival
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. People are watching less television than they used to. Streaming and smartphones have become a replacement, especially for younger viewers. It isn’t hard to see why traditional leaders such as Sony, which is spinning out its TV and home audio operations into a joint venture with China’s TCL Electronics, are retreating. The real question is why Chinese manufacturers are buying in. What was once a lucrative business, dominated by Japanese…
As great powers bet on AI, what of the workforce holding it together?
Artificial intelligence (AI) may look automated, but it runs on human labour. Behind every chatbot and image generator are thousands of people labelling images, tagging text, moderating content and training systems to understand language and culture. This invisible workforce has quietly become a critical layer of the global AI economy. India has emerged as a major hub for this work. Its large English-speaking workforce and long history in information technology outsourcing have made it a go-to location for data annotation, content moderation and AI training support. However, much of this…
China moves to boost cybercrime penalties by adding exit ban after sentences
China is looking to escalate measures against cybercriminals operating inside and outside its borders by banning convicted citizens from leaving the country, even after they have completed their sentence. The draft Cybercrime Prevention and Control Law bill comes as China doubles down on working with Southeast Asian countries to crack down on cross-border online fraud. The bill, which aims to impose an exit ban on Chinese found guilty of cross-border online crimes for up to three years after serving their sentence, was announced by Beijing’s public security ministry on Saturday.…
India weighs lifting foreign ownership cap in state-owned banks
Stay informed with free updates Simply sign up to the Indian business & finance myFT Digest — delivered directly to your inbox. India’s government is weighing raising the foreign direct investment cap in publicly owned banks to 49 per cent from 20 per cent, in a move that would mark a significant step in the opening of the sector to overseas capital. The proposal, raised by federal banking secretary M Nagaraju on Monday, reflects a broader shift in policy under Prime Minister Narendra Modi to liberalise the financial sector. New…
Toyota has ‘no intention’ to raise $34bn take-private offer after Elliott challenge
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Toyota has said it has “no intention” of raising its ¥5.4tn ($34bn) offer to take its largest subsidiary private, setting up a showdown with activist investor Elliott Management, which has staunchly objected to the carmaker’s price. Toyota Asset Preparatory, an entity formed to take control of car parts supplier Toyota Industries, said on Monday that its offer of ¥18,800 a share was its “best possible price”. “The tender offer price…