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Chinese toymaker Pop Mart reported strong annual growth in revenue and net profit for 2025, but not enough to alleviate investor fears that the company remains too reliant on the Labubu phenomenon. Annual revenue jumped 184.7 per cent from a year earlier to 37.12 billion yuan (US$5.4 billion), while net profit surged 284.5 per cent to 13.08 billion yuan, the company said on Wednesday. However, its Hong Kong-listed shares plunged 22.5 per cent to HK$168.30 on Wednesday, marking the biggest drop...

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As war in the Middle East escalates, the financial fallout extends beyond energy price and supply-chain disruptions. Vulnerabilities in the US$3 trillion-plus global private-credit market are accelerating, driving investors to safe havens, while global finance undergoes a rapid transformation. China, the world’s largest creditor to developing countries, will feel the repercussions. This is the first real stress test confronting the vast lending empire. A meltdown was inevitable; only the timing...

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A senior Japanese official and the country’s military have expressed regret after a serving officer was arrested on suspicion of trespassing at the Chinese embassy in Tokyo. Tokyo police have identified the 23-year-old suspect as Kodai Murata, a second lieutenant with the Ground Self-Defence Force (SDF), and said he was suspected of bringing an 18cm (7-inch) knife onto the embassy premises. No one was injured in the incident and a blade was found in shrubbery on the embassy grounds, Japanese...

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The disruption to shipping traffic along the Strait of Hormuz is starting to bite in China, where some manufacturers are reducing production due to soaring energy, raw material and freight costs. Zhao, who runs a bicycle factory in Guangzhou serving clients in the United States, Middle East and Europe, has already put most export business on hold. “We also cancelled all orders from Iran,” he said. “The cost of aluminium, a key raw material for bicycle production, has risen by 30 per...

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China’s luxury hotel sector has unlocked new avenues for business growth, fuelled by a boom in inbound tourism and a growing number of foreign business travellers and holidaymakers who favour high-end accommodation. International tourists generally spend more than domestic ones, except for wealthy Chinese travellers. Most visa-free visitors to China are from developed countries with much higher living costs. Even spending at their usual levels, they would generate considerable revenue for...

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1. Top Chinese nuclear, radar and missile experts vanish from engineering body site The profile of one of China’s top nuclear weapons scientists has been scrubbed from the website of the nation’s engineering brains trust. Similar online references to radar specialist Wu Manqing, 60, and missile designer Wei...

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Taipei aims to leverage geopolitics by positioning itself as an Asia-Pacific drone hub built on a supply chain decoupled from mainland China, though challenges relating to scale, politics and timing threaten its ambitious industrial strategy. The push reflects a broader effort by the administration of Taiwanese leader William Lai Ching-te to position the island as a node in what officials have described as a “democratic supply chain” free of mainland Chinese components amid rising geopolitical...

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Meltwater from snow-capped mountains is fostering an emerging trout-farming industry thousands of kilometres from the sea in western China’s Xinjiang Uygur autonomous region. The region, famous for its cotton, is on track to become China’s top trout producer as it ramps up efforts to diversify its agricultural base following criticism of labour practices in the cotton sector that led to import bans overseas. In 2018, in response to rising domestic demand for Atlantic salmon and limited local...

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Major Chinese consumer stocks listed in Hong Kong rose sharply following strong full-year earnings, though analysts said the results did not point to a broad recovery in the consumer market but rather highlighted structural divergence and new growth drivers in mainland China consumption. Jeweller Laopu Gold posted stronger-than-expected results for 2025, with revenues of 27.3 billion yuan last year, a 221 per cent surge year on year, while net profit jumped 234.9 per cent to 5.03 billion yuan,...

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Testing conducted by Chinese scientists has found that a solid rocket engine can ignite at 200 metres (656 feet) underwater – far deeper than submarine-launched missiles – suggesting new possibilities for deep-sea weapon systems. Ballistic missiles that can be launched from subs are central to strategic deterrence for nuclear powers – for example, the M51 used by France, America’s Trident system, and China’s Julang series. With these missiles on board, submarines, moving stealthily through deep...

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There is little chance the US could bring China to the table on any nuclear arms control agreements in the short term, despite upcoming leaders’ meetings this year, experts said on Tuesday, as the Trump administration pushes for a trilateral deal including China after the previous US-Russia treaty expired last month. There is “no shortage of good ideas” for how the upcoming summit between US President Donald Trump and Chinese President Xi Jinping could move the world towards ending a nuclear...

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The Chinese Embassy in London hosted a symposium on March 19 for Ambassador Zheng Zeguang to brief on the recently concluded annual ‘Two Sessions’ – of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC) – held in Beijing, which he had attended as a CPPCC member, and to exchange views … Continue reading Chinese Embassy in London hosts briefing and discussion on Two Sessions

The post Chinese Embassy in London hosts briefing and discussion on Two Sessions appeared first on Friends of Socialist China.

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Welcome to Open Dialogue, a series from the South China Morning Post where we bring together leading voices to discuss the stories and subjects occupying international headlines. In this edition, we invited a prominent industry player and economist to reflect on the role of stablecoins, cryptocurrencies pegged to fiat currencies or other assets. They discuss the differing approaches of China and the United States, as well as Hong Kong’s role in China’s strategy, as the city is expected to issue...

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Washington’s China policy lacks strategy, coherence and a clear framework in US President Donald Trump’s second term, mirroring his first, according to a former senior official in the Joe Biden administration. Former Biden officials, speaking at a Carnegie Endowment for International Peace event on Tuesday, said there was little evidence of systemic policy when they assumed power in early 2021, after Trump’s first term, a pattern that appeared to be repeating itself. “There were themes about how...

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Backchannel talks between the United States and Iran are unlikely to result in a breakthrough, according to Chinese analysts, who said the core conditions for a ceasefire were unlikely to be met. On Monday, President Donald Trump said the US had held “productive” conversations with Iran despite his threats to “obliterate” the country’s power plants if the Strait of Hormuz, a key shipping lane, was not reopened. However, the US and Iran have given conflicting accounts about peace talks, with...

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Chinese self-driving technology developers continue to expand outside the mainland as WeRide seeks to launch robotaxi services this year in Hong Kong and Singapore, according to an executive. WeRide’s planned entry into Hong Kong was set to cover both robotaxis and robobuses, said senior director of public relations and marketing Maeve Zhang in a media briefing on Tuesday, without disclosing the operation areas or a launch date. Meanwhile, the Guangzhou-based company said it planned to launch...

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The strategic value to Beijing of a new military base in the contested Paracel Islands is likely to be limited, according to Chinese observers, as the South China Sea remains a focal point of regional tensions. The assessment comes amid rising concern over China’s land reclamation at Antelope Reef, believed to be its most significant project in the strategic waters since it declared a halt to such activities about a decade ago. The Asia Maritime Transparency Initiative (AMTI) of the Centre for...

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With Tokyo expected to downgrade the description of ties with Beijing in its annual diplomatic report, mainland China says the Japanese prime minister’s “erroneous remarks on Taiwan” are at the root of their current tensions. On Tuesday, China’s foreign ministry said comments by Japanese leader Sanae Takaichi had sparked anger in China and breached a “red line”. Japan will describe China in its 2026 diplomatic blue book as an important neighbour, and the relationship as “strategic” and “mutually...

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Global trade flows are facing severe disruption amid the US-Israel war on Iran and unpredictable tariff policies. But logistics giant DHL still expects its revenues to soar in the coming years thanks in large part to Chinese companies’ rising global ambitions. The resilience of China’s outbound trade is a major reason DHL has maintained such an ambitious growth target even amid the Middle East crisis and constantly changing trade barriers, according to Oscar de Bok, CEO of the firm’s global...

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People’s Daily, a mouthpiece of China’s ruling Communist Party, has warned Japan that higher military spending and what the newspaper called a looming “defence bubble” will not save an economy weakened by the falling yen and Iran war energy crisis, amid a protracted diplomatic row between Beijing and Tokyo. In a Tuesday commentary published under the “Zhong Sheng” pen name – a pseudonym used to voice Beijing’s position on global affairs – the paper said the administration of Japanese Prime...

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A senior Chinese financial regulator and former graft fighter has been placed under investigation for corruption, officials announced on Tuesday, marking one of the highest-profile purges among China’s financial regulatory apparatus in recent years. Zhou Liang, vice-chairman of the National Financial Regulatory Administration (NFRA), is under investigation for “serious violations of discipline and law”, a euphemism for corruption, bribery and abuse of power, according to an announcement by the...

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Rising memory-chip costs could reshape the smartphone industry, said Xiaomi president William Lu Weibing, after weak smartphone sales cut into the firm’s fourth-quarter profit. Memory prices were surging at a magnitude “beyond imagination”, drawing smartphone makers into a long-term price-raising cycle, Lu said on an earnings call on Tuesday. “When the price-raising cycle ends, some players may suffer significant losses or even face closure,” he said, without elaborating. However, the challenge...

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A pair of advanced destroyers kicked off an intensive and wide-ranging training exercise soon after they were assigned to the People’s Liberation Army division that oversees Taiwan and the East China Sea. The newly commissioned 12,000-tonne guided-missile destroyers, the Dongguan and Anqing, took part in their first live-fire training in mid-March, simulating high-intensity combat missions, the official PLA Daily reported on Sunday. The Type 055 “super destroyers” are the first of their kind in...

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At a humanoid robotics lab in Beijing, China, engineers of the company X-Humanoid are putting their robots through endurance tests. The robots walk, run and dance during an eight-hour test of their coordination, agility and motor skills.

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The official newspaper of the People’s Liberation Army has condemned Japan’s deployment of stand-off weapons, including upgraded Type-12 missiles, accusing it of creating a “kill network” capable of targeting both coastal and inland areas of neighbouring countries. The enhanced Type-12 surface-to-ship missiles are set to be deployed at Camp Kengun in Japan’s southwestern Kumamoto prefecture by the end of this month. On Tuesday, the PLA Daily reported that the upgraded Type-12 missile featured a...

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