Dozens of ordinary Chinese investors who lost their money after the collapse of a state-backed financial services group in eastern China’s Shandong province have been detained by authorities for drawing attention to the issue through foreign media and for “being used by overseas anti-China forces,” two sources told Radio Free Asia. Last month, several investors among the nearly 100,000 impacted by a purported 20 billion yuan (or US$2.74 billion) financial scam linked to Shandong province-based Jianghaihui Group spoke with international media outlets, including RFA, hoping to create global awareness about…
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FirstFT: Shein considers US restructuring as trade war threatens London IPO plans
This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia, Europe/Africa or Americas edition to get the newsletter delivered every weekday morning. Explore all of our newsletters here Good morning and welcome back to FirstFT Asia. In today’s newsletter: Shein explores a US restructuring Vietnam marks 50th anniversary of war with the US ending Trade upheaval looms over Singapore’s election Shein is exploring ways to restructure its US business in the event the Trump administration sticks with punitive tariffs on Chinese imports, which…
US urges India and Pakistan to de-escalate tensions
Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world US secretary of state Marco Rubio urged India and Pakistan to “de-escalate tensions” after a deadly attack in Indian-administered Kashmir last week, highlighting Washington’s growing alarm about the frictions between the nuclear-armed neighbours. Rubio’s appeal came in separate phone conversations with senior officials in India and Pakistan on Wednesday as the rising tension in South Asia threatens to reignite one of the region’s longest-running conflicts after New Delhi…
PHOTOS: Vietnam celebrates 50th anniversary of war’s end with grand parade
Vietnam marked the 50th anniversary of the end the Vietnam War on Wednesday with jubilation and a grand military parade – but also with a message of reconciliation. Flag-waving crowds teemed the streets of Ho Chi Minh City, once known as Saigon, where the decades-long conflict against U.S.-backed forces that had divided the nation came to an end April 30, 1975. vietnam-50th-anniversary-war-us Vietnamese troops march during a parade to commemorate the 50th anniversary of the fall of Saigon, in Ho Chi Minh City, Vietnam, April 30, 2025. (Minh Nguyen/Reuters) Vietnamese…
Trump tracker: the latest data on US tariffs, trade and economy
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Chinese e-commerce exports plummet in face of tariffs, despite rise in sales to EU
Exports to the US from Chinese online shops such as Temu and Shein have plunged in the face of Donald Trump’s trade war, as shipping from China to the EU has increased. Official Chinese data showed its total e-commerce shipping dropped 65% by volume in the first three months of the year, but rose 28% in Europe. The sharp fall comes amid reports that the fast-fashion discount platform Shein is considering a restructuring in the US to circumnavigate tariffs. According to the Financial Times, one workaround would be for Shein…
UK and India locked in final stages of trade talks
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. India and the UK are locked in the final stages of negotiating a free trade deal with both sides wrangling over key demands in London this week, according to people briefed on the talks. The most intractable area of disagreement is over Delhi’s request to be exempted from the UK’s “carbon border tax”, starting in 2027, which would add costs to imports from Indian such as steel, two people with…
Vietnam hails ‘victory of justice’ as it marks 50 years since end of war
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Vietnam’s top leader has hailed the country’s “victory of justice” and its rapid development, as the south-east Asian nation celebrated the 50th anniversary of the end of the war with the US. At a grand military parade in Ho Chi Minh City, formerly Saigon, on Wednesday, To Lam, chief of Vietnam’s Communist party, praised the nation’s transformation from a war-torn country into one of the world’s fastest-growing economies, and described…
Junta bombs kill 8, injure dozens in northwest Myanmar
Junta aerial attacks in an embattled region of northwest Myanmar killed eight people and injured dozens more, residents told Radio Free Asia on Wednesday. The country’s Sagaing region is the epicenter of both insurgent movements against the military that seized control over the country in a 2021 coup and the recent 7.7 magnitude earthquake that killed thousands. It is home to towns and villages frequently targeted by junta soldiers for raids, arson, mass arrests and bombings. The military regime’s air force dropped 47 bombs on Kale township’s Nat Chaung, Nat…
Demand for Chinese stocks lifts Hong Kong exchange’s profits
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Surging global demand for Chinese stocks led Hong Kong’s exchange operator to its highest-ever quarterly profits, as investors renewed their optimism over Chinese technology companies and new listings. Net profit at Hong Kong Exchanges and Clearing rose 36 per cent year on year in the first quarter to HK$4.1bn (US$528mn) on revenues of HK$5.5bn, up 42 per cent from the same period last year. Earnings per share rose by almost…