Page 12 - China

Chinese firm demands compensation after UK govt nationalises British Steel

The Chinese company that formerly owned British Steel demanded Sunday compensation from the UK government for investment losses following the nationalisation of the manufacturer last week. The British government took operational control of the company last year after Jingye Group said that it was considering closing the blast furnaces at its Scunthorpe plant in northern England, the last in the United Kingdom to make "virgin steel" from raw materials. Jingye Group said in a WeChat statement that the nationalisation move tarnished the credibility of the British government, spooked international investors and caused great losses to the company's operation and British taxpayers' funds. It also demanded that the UK government stop "trampling on international investment rules." The Chinese company announced it had initiated negotiation procedures under relevant bilateral investment agreements, reserving all rights, including to international arbitration. Jingye said it will also represen

DeepSeek seeks fresh funding at $74 bn valuation ahead of onshore IPO

Chinese AI startup DeepSeek is reportedly planning to raise up to 50 billion yuan in a fresh funding round at a valuation of about 500 billion yuan, ahead of a potential mainland stock market listing

US partially restores Hong Kong's special status, drawing praise from China

Washington ended a five-year-old national emergency linked to Hong Kong, partially restoring the city's special legal status while leaving key sanctions under existing legislation unchanged

Chinese tech firms join global race to reinvent smartphones for AI era

China's ZTE unveiled NaviX Ultra, which it calls the world's first agentic AI smartphone, highlighting an intensifying race among Chinese tech firms to redefine smartphones with built-in AI sevices

China tops US in global favourability, shows Pew Research survey

An area the US continues to get better ratings than China is its respect for personal freedom. However, that gap is also narrowing

Xi pitches China as leader of a new global artificial intelligence order

Xi Jinping uses China's premier AI conference to promote open-source technology, strengthen ties with the Global South and position Beijing as an alternative to US-led AI governance

China's Moonshot launches world's largest open AI model, nears US rivals

The Chinese startup said its 2.8 trillion-parameter open-weight model delivers performance approaching Anthropic's frontier systems while supporting a 1 million-token context window

'Groundless accusations': China rejects Trump's election meddling claims

China on Friday said it has never interfered in US elections and has no interest in doing so, urging Washington to stop making what it described as "groundless accusations" after President Donald Trump accused Beijing of meddling in the 2020 election. In an address to the nation Thursday, Trump again raised doubts about the US elections results in 2020 and accused China of interfering in them. "The relevant allegations by the US are entirely fabricated and aimed at vilifying China," said China's Foreign Ministry spokesperson Lin Jian. "We have no interest in interfering in US elections and have never done so." In a daily briefing in Beijing, Lin called on the US to stop making groundless accusations against China. Asked whether this might affect the expected visit of Chinese President Xi Jinping to the U.S. in September, the spokesperson replied: "As I just said, we urge the US to stop making an issue of China in its elections and do something conducive to China-US relations." Tru

Why are scientists raising concerns over China's Brahmaputra dam project?

An active fault line beneath China's Brahmaputra mega dam has raised fresh questions over its long-term stability and renewed concerns about its downstream impact on India

AI should be a global 'symphony', not 'solo performance': Xi Jinping

Chinese President Xi Jinping on Friday said the development of AI should not be a "solo performance" by one country, but a "symphony of global collaboration." Xi made these remarks while addressing the opening of the 2026 World Artificial Intelligence Conference (WAIC), China's largest annual AI industry event, in Shanghai. "With AI advancing at a staggering speed, we must ensure its development is positive, for the good and for humanity," he said. It must be guided with human wisdom and international consensus, he said. To further support AI development in the next five years, he said China will provide developing countries including members of the Association of Southeast Asian Nations, the Arab League, the Shanghai Cooperation Organisation, the African Union, Latin American and the BRICS member countries with 5,000 research projects in AI, as well as training, seminar programmes and "cooperation centres", the Hong Kong based South China Morning Post reported. Earlier, 29 count

Bigger electric cars leave China with damaged roads, funding crunch

China's growing fleet of large electric vehicles is increasing road maintenance costs while reducing fuel tax revenues, intensifying calls for new road funding mechanisms

India should rethink China investment policy, says PMEAC member

Rakesh Mohan, a member of the Prime Minister's Economic Advisory Council, said India should attract greater Chinese investment and strengthen trade ties to create jobs and boost exports

Trump accuses China of interfering in 2020 US elections, threatening truce

President Donald Trump accused China of interfering in the 2020 US election and stealing voter data, reviving claims that US intelligence agencies have previously debunked

Apple Intelligence AI service cleared for use on iPhones in China

China's cyberspace regulator has approved Apple Intelligence for use on iPhones, with AI capabilities set to be powered by Alibaba's Qwen and Baidu's models for users in the country

China, Xi seen more favourably than US, Trump in many nations: Survey

The world has largely viewed the US more favourably than China for years, but those opinions have flipped in Beijing's favour this year, according to a new poll by the Pew Research Center, a remarkable shift driven in part by tensions between the Trump administration and US allies. More people have favourable views of China than the US in 25 out of the 36 countries and territories that were surveyed, including Canada and Mexico. The poll was conducted from February to May, a period when the United States and Israel launched a war against Iran. In only six countries do people still see the US more positively than China, according to the findings released Wednesday. Views in 22 out of the 36 countries and territories also are more favourable of Chinese leader Xi Jinping than US President Donald Trump, including in Canada, Mexico and major European powers including France, Germany and the UK However, people in many of the countries have low confidence in both men. It marks the first t

Best of BS Opinion: Dixon-Vivo joint venture hints at pragmatic approach

New services production index, a shift on Chinese investment, farmer-led agricultural reform, city labour markets and life under siege in Iran feature in today's Best of BS Opinion.

The Chinese puzzle: Exports and AI are booming. So why is growth slowing?

China's factories are booming, exports are at record highs, and its AI industry is expanding rapidly. So why is the world's second-largest economy slowing down?

Why lab-grown diamonds are putting natural diamond miners under pressure

As lab-grown diamonds become more common, the industry is splitting into two markets: one built on rarity and natural origin, the other on scale, lower prices and affordability

China's GDP growth unexpectedly slips below official target range

GDP grew 4.3% from a year ago, according to data released by the National Bureau of Statistics, below the bottom of this year's official target range of 4.5% to 5%