Trump visit sees Marco Rubio become first sanctioned US secretary of state to visit China
Industry

Trump visit sees Marco Rubio become first sanctioned US secretary of state to visit China

Marco Rubio will become the first sitting US Secretary of State under Chinese sanctions to visit Beijing. Images of Rubio leaving for China on Air Force One with Donald Trump appear to have answered previous questions about whether he would skip such a globally important event. Rubio is also serving as the US National Security Adviser and would normally have been expected to visit China to lay the groundwork for such a high-stakes summit. Instead he has met his Chinese counterpart Wang Yi twice...

May 12, 2026
US first lady not travelling to China with Trump
Industry

US first lady not travelling to China with Trump

US President Donald Trump departed for a three-day state visit to China on Tuesday without first lady Melania Trump, travelling instead with Cabinet officials and business executives in a delegation that contrasts sharply with the pageantry of his 2017 visit. Hours before his departure, the office of the first lady confirmed Melania’s no-show in an email response to the South China Morning Post. “First lady Melania Trump is not travelling this time,” a spokesperson said. The confirmation comes a...

May 12, 2026
Tea at the Forbidden City: how SCMP covered 2017 Xi-Trump meeting
Industry

Tea at the Forbidden City: how SCMP covered 2017 Xi-Trump meeting

Cooperative symbolism behind tea with the Trumps in the Forbidden City This article was first published on November 10, 2017 by Laura Zhou Beijing’s Forbidden City was more than just an opulent backdrop for US President Donald Trump’s first day in China. One of the main halls used to stage a set piece on Trump’s tour of the former imperial palace was weighted with meaning and chosen to underscore cooperation between the two countries. As part of their higher-than-usual welcome to the capital,...

May 12, 2026
AI engine: China’s booming tech exports give Beijing ‘wind in its sails’ for Trump summit
Innovation

AI engine: China’s booming tech exports give Beijing ‘wind in its sails’ for Trump summit

The role of tech products in April’s trade data reflects how computing-related goods are a ‘new and important growth driver’ for exports Driven by global appetite for artificial intelligence, China’s computing hardware exports have emerged as a pivotal new engine for growth, providing Beijing with strategic leverage as US tech titans accompany President Donald Trump on a high-stakes visit to the Chinese capital this week, according to analysts. Chinese trade received another significant boost from the technology sector in April, as integrated circuit (IC) export value doubled year on year to US$31.09 billion, according to data released last week by the General Administration of Customs. Volume rose 3.7 per cent to 32.04 billion units. Meanwhile, exports of automated data processing machines and parts – which include computers, laptops and servers – jumped 47.6 per cent year on year to US$23.81 billion. The two sectors alone accounted for roughly half of China’s total export growth last month, according to a Monday note by Bank of America (BofA).

May 12, 2026
China Inc.’s global growth curbs Trump tariff powers undercut by courts
Economy

China Inc.’s global growth curbs Trump tariff powers undercut by courts

US president likely to find levy threat gives little leverage over Xi Jinping U.S. President Donald Trump is set to meet Chinese leader Xi Jinping in Beijing this week, as they look to preserve their trade truce. (Nikkei montage/Source photos by Reuters) SHANGHAI -- When U.S. President Donald Trump talks trade with Chinese counterpart Xi Jinping this week, he is likely to find that tariff threats provide less leverage than they used to, not only due to lost legal battles but also because Chinese companies have spent years diversifying global supply chains.

May 12, 2026
South Korea floats using AI profits for ‘people’s dividend’
Economy

South Korea floats using AI profits for ‘people’s dividend’

President's policy chief suggests redistributive measure to ease AI-driven inequality The administration of South Korean President Lee Jae Myung has floated the idea of having members of the public receive dividends from the massive profits of chipmakers. (Nikkei montage/Source photo by Reuters) SEOUL -- A high-ranking South Korea policymaker suggested Tuesday that members of the public should be paid a share of chipmakers' massive profits, in comments that reflect the growing reliance of Asia's fourth-largest economy on semiconductor exports.

May 12, 2026
Chinese rare-earth miners bullish ahead of Trump-Xi summit
Economy

Chinese rare-earth miners bullish ahead of Trump-Xi summit

Earnings rise on higher prices as importers face battle to curb China dominance People gather at the rare-earth elements production section of an exhibition on China’s manufacturing achievements at the National Museum in Beijing on March 24. © Reuters TOKYO -- Chinese rare-earth miners are coming off strong years and staying bullish ahead of President Xi Jinping's summit this week with American counterpart Donald Trump, where the critical minerals are likely to feature in discussions.

May 12, 2026
Bond yields jump in Japan and South Korea as US-Iran talks snag
Economy

Bond yields jump in Japan and South Korea as US-Iran talks snag

Higher energy prices stir inflation fears; stock markets choppy 10-year Japanese government bond yields jumped to 2.545% on May 12, a level not seen since June 1997. (Photo by Arisa Moriyama) TOKYO -- Inflation worries stemming from the ongoing conflict in the Middle East have sent government bond yields higher in Asia, with Japan's 10-year debt yield soaring to its highest point in nearly three decades. Interest rates are also facing upward pressure in South Korea as the Iran war drags on.

May 12, 2026
Mitsubishi Heavy expects profit surge as Japan eases arms export rules
Economy

Mitsubishi Heavy expects profit surge as Japan eases arms export rules

Defense contractor touts frigate sales abroad as contributing to regional security Mitsubishi Heavy Industries' military hardware includes warships like the destroyer “Yoshii”, launched here at its Nagasaki Shipyard in Japan last December. (Photo by Taro Fujii) TOKYO -- Mitsubishi Heavy Industries expects full-year net profit to surge as it benefits from the Japanese government's decision to ease restrictions on defense equipment exports.

May 12, 2026
Trump and Xi need to master a new art of the deal
Economy

Trump and Xi need to master a new art of the deal

Frequent but substance-light summits can prevent US-China rivalry from veering out of control President Donald Trump and Chinese President Xi Jinping participate in a welcome ceremony at the Great Hall of the People in Beijing on Nov. 9, 2017. © AP Minxin Pei is professor of government at Claremont McKenna College and a nonresident senior fellow of the German Marshall Fund of the United States.

May 12, 2026
Private equity firm EQT to buy Japan restaurant review operator for $3.7bn
Economy

Private equity firm EQT to buy Japan restaurant review operator for $3.7bn

Bain and LY have also submitted a joint offer for Kakaku.com Sweden's EQT is set to acquire the Japanese operator of the Tabelog restaurant review and booking site. (Source photos by screenshot from Tabelog's website and Ryuta Minamihata) TOKYO -- Sweden-based private equity firm EQT is set to acquire Japan's Kakaku.com, operator of the popular Tabelog restaurant review and booking site, for about 590 billion yen ($3.75 billion), Nikkei learned on Tuesday.

May 12, 2026
Major Japanese petroleum company expects Hormuz crisis to subside in July
Economy

Major Japanese petroleum company expects Hormuz crisis to subside in July

Idemitsu Kosan also seeks to secure oil supply from sources outside the Middle East Idemitsu Kosan is one of the few companies that has been able to slip a vessel through the Strait of Hormuz since the U.S. attacked Iran. (Nikkei montage/Source photos by Yuki Nakao and Idemitsu Tanker website) TOKYO -- Idemitsu Kosan, one of Japan's largest petroleum companies, expects the Hormuz crisis to begin subsiding in July, with oil prices to fall to pre-crisis levels early next year.

May 12, 2026