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China’s military calls for tip-offs as it targets corruption in air force procurement
The People’s Liberation Army has made a rare public appeal for tip-offs about procurement problems in its air force, as Beijing presses ahead with its anti-corruption campaign in the military. The announcement was posted on Monday on the PLA’s official procurement website – the main bid information platform for suppliers – seeking information about “irregular” procurement activities organised by air force units. It is the first time such a request has been made about a specific branch of the military, which comprises the ground force, navy, air force and rocket…
China to hike tax on condoms in attempt to boost falling birth rate
China is set to impose a value-added tax (VAT) on condoms and other contraceptives for the first time in three decades, as the country tries to boost its birthrate and modernise its tax laws. From 1 January, condoms and contraceptives will be subject to a 13% VAT rate – a tax from which the goods have been exempt since China introduced nationwide VAT in 1993. The measure was buried in a VAT law passed in 2024 in an effort to modernise China’s tax regime. VAT accounts for nearly 40% of…
South Korea’s market moonshot is a model for other economies
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The writer is founder and chief investment officer of Oasis Management South Korea is among the best-performing major equity markets in the world this year, closing in on the strongest annual gains in a quarter century with the benchmark Kospi index up nearly 70 per cent in the year to date. President Lee Jae Myung and his ruling Democratic party came to power in June with an aim to foster…
China’s Clean Energy Push is Powering Flying Taxis, Food Delivery Drones and Bullet Trains
By The New York Times Dec. 17, 2025 Battery-swapping robots for carsLunch from the skyVery rapid transitTaxis that drive themselvesRobot trucks don’t need windowsSubways get a makeover NYT
Why China’s rapid military build-up is ‘hardly the whole story’
It has been a turbulent year for the fraught US-China relationship. In the third part of a series looking back at the events of 2025, we examine China’s growing military might and how it’s narrowing the tech gap with the US. US defence chief Pete Hegseth told a conference in Washington this month that America would maintain a “clear-eyed appreciation” of China’s “rapid, formidable and holistic” military build-up. That build-up is being watched globally, with defence experts in recent years tracking the country’s military advances as the People’s Liberation Army…
A complicated new EU-China showdown is quietly taking shape
Last month, Contemporary Amperex Technology Limited (CATL), the world’s largest battery company, started building a massive joint venture plant in Spain. It came weeks after Spain’s King Felipe visited Beijing, seeking a stronger EU-China relationship as US commitments wobble. Except Spain, electrified by the potential job creation, ran into a problem: CATL wants to bring 2,000 Chinese workers to build the plant. What’s happening in Spain is part of a complicated new showdown between the European Union and China. At one end, China’s demands are forcing Europe to choose between…
BYD plans giant Brazil factory to scale electric bus and truck production
Chinese carmaker BYD plans to build a new factory in Brazil within the next three years after rising demand for electric buses filled its existing production capacity and forced the company to redraw its manufacturing strategy in the country. The project would sharply expand output, create hundreds of jobs and support exports across South America, with Africa also being considered, as BYD strengthens a business segment that predates its move into passenger electric vehicles. BYD has assembled electric bus chassis in Campinas, Sao Paulo state, since 2015. Over nearly a…
Chinese tourist arrivals to Japan lose momentum amid simmering tensions
The growth rate of Chinese tourists to Japan significantly slowed in November, according to official data released by Tokyo, as Beijing cut flights and issued travel warnings amid rising tensions with Japan over Taiwan. According to the latest report released by the Japan National Tourism Organization on Wednesday, although Chinese tourists continued to visit Japan in November and the numbers kept growing, it was at a much slower pace than before, both year on year and month on month. In November 2025, the number of mainland Chinese visitors to Japan…
Jimmy Lai’s conviction is ominous for Hong Kong
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. This week’s conviction by a Hong Kong court of media tycoon Jimmy Lai was deeply disturbing, even if it was sadly no surprise. Lai, a passionate campaigner for democracy and against the Chinese Communist party’s tightening grip over the territory, was found guilty of conspiring to collude with a foreign country and to publish seditious materials, charges he denied. The verdict was in many ways an inevitable consequence of the…