Chinese IPOs in US falter amid scrutiny of manipulation schemes

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chinese company listings on US stock exchanges have ground to a halt after a two-year boom as regulators in both countries step up scrutiny because of concerns over stock manipulation. Just two Chinese companies have listed in New York since the start of January, compared with 19 in the same period last year, according to an FT analysis of public records. A record 126 Chinese initial public offerings occurred across…

Laid Off in Midlife, China’s Reform Generation Braces for Downward Mobility

Harry Guo built a life that defined success in China. Born in 1971, he came of age in the 1990s, when China deepened its economic reforms. He taught himself computing and found his way into jobs in multinational firms and then Chinese internet giants. By his mid-40s, he was comfortably middle class. He and his wife paid off two mortgages early and sent their daughter to high school and college in Canada. Then Mr. Guo was laid off. Now 55, he has not had a job in more than two…

Taiwan concerned by depletion of US missile stocks during Iran war

Taiwan is concerned that the Iran war is depleting stocks of long-range cruise missiles that would be vital for the US to help defeat any Chinese invasion, making the country more vulnerable. The US is estimated to have fired hundreds of so-called Joint Air-to-Surface Standoff Missiles (JASSMs) during weeks of conflict in the Middle East, as well as ship-launched Tomahawk missiles. Defence experts said both would be crucial in any conflict over Taiwan because they can be fired from outside the range of an enemy’s air defences, diminishing the risk…

Supermicro drops 33% after co-founder charged with smuggling Nvidia chips to China

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Supermicro stock fell 33 per cent on Friday after a co-founder and two others working for the company were charged in New York with smuggling $2.5bn of Nvidia’s AI chip servers to Chinese customers. The US attorney’s office for the Southern District of New York on Thursday evening alleged that Wally Liaw, a co-founder and member of Supermicro’s board of directors, conspired with a Taiwan-based Supermicro employee and a contractor…

Supermicro drops 30% after co-founder charged with smuggling Nvidia chips to China

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Supermicro stock fell as much as 30 per cent on Friday after a co-founder and two others working for the company were charged in New York with smuggling $2.5bn of Nvidia’s AI chip servers to Chinese customers. The US attorney’s office for the Southern District of New York on Thursday evening alleged that Wally Liaw, a co-founder and member of Supermicro’s board of directors, conspired with a Taiwan-based Supermicro employee…

Can a surge of new arrivals rescue Hong Kong’s property sales market?

Weekends are when Stacy Wang makes the best of her new home. A native of Beijing, the 42-year-old moved with her young son to Kowloon, just over the water from Hong Kong Island, to join her husband, who was posted there by his mainland-based company. Together they arrange play dates in the Kowloon Cultural District, spending time in the park or visiting the science and space museums. Now that temperatures are milder, they hike up The Peak or walk around Upper Shing Mun Reservoir; her son loves the wild monkeys.…

Six shows to see during Art Basel Hong Kong 2026

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Heavenly Horses: Masterpieces from the Palace Museum Hong Kong Palace Museum, March 20 to March 17 2027 Detail from ‘Three Horses’ (1342) by Jiufeng Daoren, being shown at the Heavenly Horses exhibition © The Palace Museum When 18th century Italian missionary Giuseppe Castiglione arrived in the Qing court, he encountered a culture that had been painting horses for centuries. He remained for over five decades, working as a court painter…

Supermicro co-founder charged in conspiracy to export Nvidia chips to China

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Supermicro’s co-founder and two others working for the company have been charged in New York for allegedly violating US export controls by smuggling $2.5bn of Nvidia’s AI chip servers to Chinese customers. The US attorney’s office for the Southern District of New York said Wally Liaw, a co-founder and member of Supermicro’s board of directors, conspired with a Taiwan-based Supermicro employee and a contractor to co-ordinate illegal shipments of chips…

SEC urged to restrict Chinese companies’ access to US capital markets

Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world The head of the Securities and Exchange Commission is facing fresh pressure from lawmakers to restrict Chinese companies from accessing US capital markets. In a rare display of bipartisanship, Republican Senate banking committee chair Tim Scott and Elizabeth Warren, his Democratic counterpart, on Thursday sent a letter to Paul Atkins, who has served as SEC chair since April 2025 after being nominated by President Donald Trump to run…