Category: BBC

Japanese tourism and retail stocks fell on Monday after China warned its citizens not to travel to the country as Tokyo and Beijing remain locked in a row over Taiwan. Japan’s Prime Minister Sanae Takaichi, who has been a vocal critic of China and its military activities in the region, suggested this month Tokyo could take military action if Beijing attacked Taiwan. Shares in cosmetics company Shiseido plunged nearly 10% while department store chain Takashimaya and the owner of global fashion chain Uniqlo fell more than 5% in early trading.…

China’s most advanced aircraft carrier, the Fujian, has entered service days after a grand commissioning ceremony overseen by Chinese leader Xi Jinping, state media said. The Fujian, the country’s third warship, is equipped with electromagnetic catapults which will allow planes to be launched at higher speeds. Its launch marked a significant step forward for Beijing, which now has the world’s largest navy in terms of sheer number of ships. China has been expanding its navy at breakneck speed under Xi, putting pressure on the United States and its allies to…

Starbucks says it is selling a 60% stake in its business in China as part of a $4bn (£3.04bn) deal with investment firm Boyu Capital. Under the agreement, the world’s biggest coffee chain will have a 40% stake in the Chinese retail operation and retain ownership of the Starbucks brand there. Starbucks entered China in 1999 and the country is now its second-largest market outside the US, but has struggled in recent years with the rise of homegrown brands like Luckin Coffee. The business will continue to be headquartered in…

Beijing has said it will loosen a chip export ban it imposed after Dutch authorities took over Nexperia – a Chinese-owned chipmaker based in the Netherlands. In September, the Netherlands used a Cold War era law to take over the company after citing “serious governance shortcomings” and to prevent the chips from becoming unavailable in an emergency. In response, China said it would not re-export completed Nexperia chips to Europe which raised concern among carmakers. One association had described the move as “alarming”. Around 70% of chips made in the…

US President Donald Trump has hailed an “amazing” meeting with his Chinese counterpart, Xi Jinping, amid rising hopes for a de-escalation of tensions between the world’s two biggest economies. Beijing was less effusive, saying the two side had reached a consensus to resolve “major trade issues” during the leaders’ first face-to-face meeting in six years. Trump’s trade war had set off tit-for-tat tariffs that shot past 100% on both sides, but they agreed to a truce in May – although tensions remained high. Thursday’s talks did not lead to a…

US President Donald Trump and China’s President Xi Jinping have met for talks in South Korea, their first meeting since 2019. Topics of discussion included the drug fentanyl and rare earths, according to Trump, while China says the meeting saw the leaders reach a consensus to resolve “major trade issues”. The BBC’s Laura Bicker explains what we know about the outcomes of the meeting. BBC

US President Donald Trump met Chinese President Xi Jinping in South Korea on Thursday, following months of escalating tension between the countries. It was the first face-to-face interaction the two men have had since 2019, when they last met during the G20 summit in Osaka, Japan. The two world leaders exchanged handshakes and praise in front of cameras before leaving to talk in private for two hours. Trump hailed the meeting with Xi as “a great success”. BBC

Direct flights between India and China have resumed as relations between the countries appear to be thawing. IndiGo flight 6E 1703 from Kolkata landed in the southern Chinese city of Guangzhou on Monday, carrying about 180 passengers. Flights between the two countries were first suspended during the Covid pandemic in early 2020 and did not restart after a deadly clash in a disputed Himalayan border area escalated tensions. But the two countries have been steadily rebuilding relations, and last year they reached a landmark agreement on border patrols. The Indian…