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China has formally invited President Donald Trump to Beijing for a summit with President Xi Jinping, but the White House has not yet responded as the countries are still far apart on trade issues and the flow of fentanyl. Treasury secretary Scott Bessent will on Sunday meet Chinese vice-premier He Lifeng in Madrid for a fourth round of negotiations that some hope will pave the way for Trump to visit Beijing just before the October 31 Asia-Pacific Economic Cooperation forum in South Korea. In recent days, two US cabinet officials…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. In Shanghai, where much of the retail experience revolves around futuristic architecture and viral collectables, Maison Dongliang offers a counterpoint. Housed in a red-roofed villa in the city’s desirable Changning district, the mix of homewares, beauty and fashion from Chinese and international designers encourages slow browsing. A visit feels less like being peddled merchandise and more like touring a house-museum. Maison Dongliang is housed in a villa in Shanghai’s Changning district © Alessandro Wang Dongliang…

Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world It turns out that the leader of a country where journalists get slung in jail for writing or broadcasting the wrong thing is also pretty good at manipulating the media beyond its borders. The photos of Xi Jinping at last week’s Shanghai Cooperation Organization convening the leaders of the big emerging world powers — including, importantly, India’s Narendra Modi — went around the world, kicking off another round…

Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Mexico is slapping a 50 per cent tariff on Chinese cars, in a blow to Beijing as its biggest auto buyer tries to preserve a free trade deal with the United States. Washington has put heavy pressure on Mexican President Claudia Sheinbaum to stamp out Beijing’s growing influence in the country’s economy, which has recorded a years-long climb in Chinese imports and investment. The measure is buried in…

Stay informed with free updates Simply sign up to the Chinese economy myFT Digest — delivered directly to your inbox. China’s consumer prices slipped into deflation in August, adding to signs that the world’s second-largest economy is losing momentum after exports grew more slowly last month. The official consumer price index contracted 0.4 per cent year on year last month, official data showed on Wednesday, a sharper fall than the 0.2 per cent decline forecast in a Bloomberg poll of analysts. CPI was flat in July. China’s producer prices index,…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chinese authorities have detained a senior banker whose father, the country’s former top securities regulator, is also under investigation, as President Xi Jinping’s anti-corruption campaign increasingly ensnares family members of fallen officials. Yi Chenyang, a rising star at state-backed China International Capital Corporation, one of the country’s leading investment banks, was taken away by authorities in recent weeks as part of the investigation into his father, according to two people…

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Stay informed with free updates Simply sign up to the Russian business & finance myFT Digest — delivered directly to your inbox. Russian state-owned nuclear monopoly Rosatom is preparing to raise funds on the Chinese bond market, underscoring Moscow’s growing reliance on Beijing as ties between the two countries deepen. Confirmation of the plans by a Rosatom representative came after the Financial Times reported on Sunday that China was preparing to reopen its domestic bond market to Russian energy companies. Rosatom, which builds nuclear power plants and exports enriched uranium,…