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At least 10 weight-loss injections and oral pills are lining up for regulatory approval in China, in a market projected to reach about US$14 billion by 2030. Novo Nordisk’s blockbuster semaglutide, which generated about US$35 billion in global revenue last year, lost patent protection in China on March 20, clearing the way for rivals. The rush comes as China’s drug regulator accelerates approvals of innovative therapies, helped by a surge in out-licensing deals with global pharmaceutical...

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Professor Kenneth Rogoff of Harvard University has repeatedly warned that the US dollar is approaching a crisis of legitimacy. Having written extensively on the global recession in the late 2000s, Rogoff has turned his focus to the US currency’s increasingly unstable place at the top of the world’s financial hierarchy. A former chief economist at the International Monetary Fund and a chess grandmaster, he published Our Dollar, Your Problem in May last year. In this interview, Rogoff elaborates...

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A Chinese commercial satellite has completed a refuelling test in low Earth orbit using a flexible “octopus tentacle” robotic arm, advancing efforts to extend spacecraft lifespans and develop in-orbit servicing abilities. The Hukeda-2, or Yuxing-3 06, demonstration satellite used its flexible arm to carry out compliance control and refuelling tests after blasting off from Jiuquan in China’s northwestern Gansu province last week, state broadcaster CCTV reported on Tuesday. The arm can curl, twist...

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The US-Israeli war in Iran could weaken the US dollar’s historic dominance in the oil-rich Middle East and bolster a “petroyuan” alternative backed by China’s currency, according to analysts at a leading European bank. Fallout from the nearly month-long conflict was testing the “foundations of the petrodollar regime”, while damage to Gulf economies “could encourage an unwind in their foreign asset savings”, Deutsche Bank analysts said in a research note published on Tuesday. “If the Gulf moves...

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In two different cases on Wednesday, United States authorities charged Chinese nationals with offences ranging from conspiring to smuggle advanced AI chips to China to drug trafficking and money laundering. The cases came on the same day US President Donald Trump announced new mid-May dates for his highly anticipated summit with China. The developments come as the two countries continue to compete over global leadership in artificial intelligence, and as Washington continues to accuse Beijing of...

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A delegation of the South African Communist Party (SACP) led by Solly Afrika Mapaila, the general secretary of the party, recently visited China. On March 18, the delegation met with Liu Haixing, Minister of the International Department of the Communist Party of China (CPC) Central Committee (IDCPC). Liu said, under the strategic guidance of President … Continue reading South African Communist Party visits China

The post South African Communist Party visits China appeared first on Friends of Socialist China.

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📆 Sunday 12 April 2026, 3pm Britain, 10am US Eastern, 10pm China In spite of several years of intense propaganda and misinformation about China in the media, large numbers of young people in the West are going through “a very Chinese time in their lives”, not least because they are seeing China’s extraordinary achievements in … Continue reading Webinar: Socialist Chinamaxxing – How China’s achievements are a product of its socialist system (12 April)

The post Webinar: Socialist Chinamaxxing – How China’s achievements are a product of its socialist system (12 April) appeared first on Friends of Socialist China.

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Beijing’s long-standing geopolitical playbook – stay in your lane, avoid military entanglement, prepare exhaustively and issue bland “win-win” statements about the UN charter and calls to talk not fight – could see China emerge favourably from the Iran war, said economists, analysts and former US officials, as the conflict enters its fourth week with little end in sight and the US barrelling ahead. “People always say that China doesn’t understand the Mideast,” said Jeremy Chan, senior analyst...

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Like many Asian-Americans, US-born Tiffany Chin has faced her share of slights, including being treated as “other” or “foreign” and judged at times by her race rather than her accomplishments. Growing up outside Chicago, she recalls that in primary school her musical talents were attributed to her “Chinese genes”, and she was told, “you’re probably so good at maths because you’re Asian”. And as an adult on a family trip to Florida, people gave her nasty looks when she went jogging, wondering...

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After weeks of speculation and behind-the-scenes intrigue over the delayed summit between President Xi Jinping and US President Donald Trump, the White House announced on Wednesday new dates for the long-anticipated, high-stakes meeting. “I’m pleased to announce that President Trump’s … long-awaited meeting with President Xi in China will now take place in Beijing on May 14 and 15,” White House spokeswoman Karoline Leavitt said. In a social media post, Trump described Xi as “the highly respected...

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The following comment on the various ways in which China has been supporting Iran in defending its sovereignty has been collectively drafted by the members of the Friends of Socialist China US committee. Increasingly countries are able to resist U.S. imperialism’s most violent, unpredictable attacks and overwhelming firepower by sharing simple technology, resisting U.S. sanctions … Continue reading China’s role in supporting Iran

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China Eastern Airlines said on Wednesday it placed a multibillion-dollar order for 101 Airbus A320neo aircraft, marking another success for the French company after it raked in big orders from Chinese airlines in December and a rumoured deal between its rival Boeing and Beijing was likely to be delayed. While the list price of the deal would be US$15.8 billion, China Eastern said Airbus had granted it “a significant price discount” which was “more favourable than the pricing secured in the...

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Japan’s structural reform of its maritime force reflects a shift towards quasi-carrier operations and preparations for a potential conflict with Beijing, according to Chinese analysts. The Japan Maritime Self-Defence Force (JMSDF) on Monday revamped its organisational structure to accelerate decision-making and improve ship operations, according to Kyodo News. The agency described the move as part of Japan’s efforts to strengthen defence amid China’s growing assertiveness. As part of the...

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Agentic artificial intelligence and advanced packaging technology will be key growth drivers for China’s chip industry in coming years, as the country is expected to increase its share of chipmaking capacity to nearly half of the world’s total by 2028. According to data revealed at Semicon China, the world’s largest chip industry trade show, China’s share of wafer fabrication capacity for mainstream processes was expected to reach 42 per cent of global capacity by 2028. That would mark a rapid...

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China is still on course to overtake the United States as the world’s largest economy in the next decade, as the global balance of power pivots towards Asia and America pursues a string of “self-defeating” policies, a prominent academic has said. While the Chinese economy is undergoing a structural transition, the current challenges facing the US are more severe, according to Li Cheng, the founding director of the University of Hong Kong’s Centre on Contemporary China and the World. The US is...

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PDD Holdings, the Chinese e-commerce group behind Pinduoduo and global budget marketplace Temu, on Wednesday reported an 11 per cent drop in quarterly profit amid higher sales as the company continued a pivot towards greater reinvestment. Net profit for the quarter fell to 24.5 billion yuan (US$3.6 billion), missing a consensus analyst estimate of 29.1 billion yuan. Meanwhile, revenue rose 12 per cent from a year earlier to 123.9 billion yuan, aligning with a consensus analyst estimate of 123.7...

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For much of the post-war era, the architecture of global governance rested on the simple assumption that the United States would support the systems it largely designed and uphold the rules it helped to create. The first Trump administration was no isolated incident. Now, from the vantage point of 2026, amid the US-Israel attack on Iran and the subsequent closing of the Strait of Hormuz, it is quite clear that there is little sign of an appetite in Washington for the US to once again safeguard...

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China has officially designated ciyuan as the translation for “token” – the computational units that power tools such as Claude, ChatGPT and Gemini – in a move widely seen as devising a new form of global currency for the age of artificial intelligence. In Chinese, ci translates to “word”, while yuan is commonly used as a synonym for “currency”. For instance, the basic unit of the Chinese renminbi is the yuan, and most foreign currencies are referred to as yuan in Chinese, prefixed by their...

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Tan Ruisong, the former boss of China’s top military aviation company, has been given a suspended death sentence for reaping over 613 million yuan (US$89 million) from bribes and insider trading. Tan, 64, was the chairman and Communist Party secretary of state-owned Aviation Industry Corp of China (AVIC) – China’s leading military aircraft maker – from 2018 until his retirement in March 2023. He is one of the most prominent defence sector executives to come under investigation in President Xi...

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The Iran war has cut off a fifth of global oil and LNG supply, handing African producers “a structural advantage” in supplying global markets, although their capacity is hampered by factors beyond the Middle East conflict, according to analysts. “West and North African exports are largely insulated from the conflict, meaning barrels from Nigeria, Angola, Gabon, Algeria and Libya are viewed as lower-risk alternatives,” said Grace Goodrich and Anne-Laure Klein of Energy, Capital & Power, a Cape...

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The former managing director and chief China economist of bourse operator Hong Kong Exchanges and Clearing (HKEX), Ba Shusong, has not appeared in public recently and could not be contacted, according to two sources familiar with the situation. Ba is important academic who frequently gave speeches at major conferences over the past decade on behalf of HKEX, speaking about Hong Kong’s role as a connector between mainland China and the world. Mainland media outlets reported that Ba was missing,...

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China and the United States are trying to navigate their differences to ensure that they maintain a basic level of stability in their relationship, an academic conference in Beijing heard last week. At the forum held by Tsinghua University in Beijing on Friday, academics and former officials discussed the need to prevent open confrontation. US President Donald Trump’s planned visit – now postponed for “five or six weeks” as he focuses on his war with Iran – was seen as a key opportunity by many...

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Almost 80 per cent of the Chinese companies operating in the European Union plan to expand their investment there, even though most complain about policy uncertainty, according to a report published on Tuesday by the Chinese Chamber of Commerce to the EU (CCCEU) and the China Economic Information Service. The result stands in sharp contrast to similar reports published by the European Chamber of Commerce in China (EUCCC) – despite companies from both sides complaining about obstacles such as...

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The second Chinese-owned liquefied petroleum gas (LPG) carrier has transited the Strait of Hormuz since the outbreak of the US-Israeli war with Iran, according to industry sources and vessel-tracking data, amid conflicting claims over access to the vital trade corridor. Tehran has largely blocked the strategic waterway in retaliation for Washington and Tel Aviv’s strikes, causing widespread disruption to global shipping – though Iranian officials have recently promised safe passage for vessels...

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China’s top diplomat, Wang Yi, encouraged his Iranian counterpart to pursue negotiations with the United States as conflict in the Middle East threatens to enter a second month. “Talking is better than fighting,” Wang told Abbas Araghchi by phone on Tuesday, according to the Chinese foreign ministry. “All parties should seize every opportunity to begin the peace process as soon as possible.” Confusion surrounds the status of peace talks, as Iran has derided a reported US 15-point ceasefire plan...

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