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China says trade with EU shaped by demand, complementary advantages
Business

China says trade with EU shaped by demand, complementary advantages

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. Chinese-made cooling appliances, including smart fans, portable air coolers and ice makers, are on offer at the Yiwu International Trade City in Yiwu, east China's Zhejiang Province, July 1, 2026. /VCG Products that meet consumer needs while offering good quality and competitive prices will naturally gain popularity, and the trade structure between China and Europe is a natural outcome driven by market demand and the complementary strengths of both sides, a Chinese Foreign Ministry spokesperson said on Monday. Spokesperson Mao Ning made the remarks at a regular press briefing in response to reports that Chinese-made products, including air conditioners, fans and multifunctional sun umbrellas designed for sun protection and cooling, have been highly sought after across Europe. Facts have proved that in trade between China and Europe, consumers have gained benefits and suppliers have reaped profits, Mao said, adding that it is impossible to force buying and selling; instead, it is a two-way street that benefits both sides.

July 6, 2026
No, China did not manage to avoid a crash
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No, China did not manage to avoid a crash

Support us China's property sector is in crisis. Image: Windmemories via Wikimedia Commons Back in the 2010s, a lot of people marveled at China’s seemingly recession-proof economy. Throughout the global financial crisis of 2008 and the Chinese stock market crash and capital flight of 2015, the country never recorded a single quarter of negative economic growth. Here’s what I wrote back in 2019: China’s government seems to have developed a highly effective new form of economic stabilization. Its extensive control of the financial system allows it to turn on a flood of bank loans when the economy looks weak, and restrain credit when the danger has passed. China’s avoidance of recession in at least the past three decades suggests that this form of credit-based stabilization is more effective than traditional, more indirect stimulation of the economy through government deficits and central bank monetary easing… When a recession threatens, the government tells banks to lend –— to local governments, construction companies and real estate developers. Then, if the credits go bad, the government swoops in and takes the nonperforming loans off of financial companies’ books.

July 6, 2026
Scorching Europe drives surging demand for Chinese cooling products
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Scorching Europe drives surging demand for Chinese cooling products

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. A sign shows the temperature reaching 40 degrees Celsius, Lisbon, Portugal, July 4, 2026. /VCG As a severe heatwave continues to scorch Europe, it is not only rewriting weather records but also driving a huge surge in Chinese-made cooling products. Citing data from China's customs, in June alone, China's exports of air conditioners increased by 72.8% year on year. In the first five months, China's exports of air-conditioning units to France, the Netherlands and Belgium more than doubled from last year. "Installation costs are very high in Europe, and external wall-mounted units are often not permitted," said Hu Benchun, director of Ningbo Heallux International Trading Co., in an interview with CMG. "Chinese-made portable air conditioners offer an alternative for Europeans to stay cool," Hu added. Staff at an air conditioner production line in Fuyang, east China's Anhui Province, June 4, 2026.

July 6, 2026
Danish pharma giant’s C-suite execs land in China: What’s next?
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Danish pharma giant’s C-suite execs land in China: What’s next?

By continuing to browse our site you agree to our use of cookies, revised Privacy Policy and Terms of Use. You can change your cookie settings through your browser. Danish pharmaceutical firm Novo Nordisk's top executives have begun a high-level visit in China in June. As more multinational firms double down on their investments in China's healthcare and innovation ecosystem, Novo Nordisk's journey reveals the huge opportunities within the country's "Healthy China" development blueprint.

July 6, 2026
24-year-old killed by lightning on clear day in Singapore
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24-year-old killed by lightning on clear day in Singapore

Seven others were hospitalised after lightning reportedly hit a group of kayakers and paddle-boarders off Pasir Ris Beach on Sunday The man was among a group of eight people, aged between 13 and 54, who were taken to hospital on Sunday afternoon, the police said on Monday. The police said they had received a call for help on Sunday at about 4.50pm from 131 Pasir Ris Road, just off Pasir Ris Beach. Two people were taken to KK Women’s and Children’s Hospital, while the other six were taken to Sengkang General Hospital, said the Singapore Civil Defence Force earlier. The 24-year-old man was already unconscious and subsequently died, the police said.

July 6, 2026
Australia, Fiji sign mutual defence pact to boost Pacific security
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Australia, Fiji sign mutual defence pact to boost Pacific security

Australia signed a new defence alliance with Fiji on Monday, bolstering ties with its South Pacific island neighbour as it seeks to outmanoeuvre China in the region. The Ocean of Peace alliance elevates Fiji to one of Australia’s few treaty allies and binds each nation to come to the other’s “mutual defence”. China sent waves through the region in 2022 when it signed a secretive security pact with the Solomon Islands, stoking fears it could one day lead to a permanent military...

July 6, 2026
55 Hong Kong students from 13 schools score perfect IB marks
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55 Hong Kong students from 13 schools score perfect IB marks

Victoria Shanghai Academy posts record nine IB top scorers, while Po Leung Kuk Choi Kai Yau School reports six At least 55 students from 13 Hong Kong schools have achieved top marks in the International Baccalaureate (IB) programme, with one private independent institution reporting nine perfect scorers, its best result on record. With results released on Monday, Victoria Shanghai Academy said nine students attained the maximum 45 points, while another nine scored 44. The school’s average score was 39. Private independent Po Leung Kuk Choi Kai Yau School recorded six top scorers, alongside eight students who achieved 44 points. Its average score was 38.37. Seven secondary schools under the English Schools Foundation (ESF) produced a combined 27 perfect scorers, with an average score of 36.4. Direct Subsidy Scheme (DSS) schools St Stephen’s College and Diocesan Boys’ School recorded five and at least three top scorers, respectively. St Stephen’s also had eight students scoring 44 points.

July 6, 2026
How a Japanese prefecture is managing rising bear population with microchips
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How a Japanese prefecture is managing rising bear population with microchips

Hyogo prefecture has set a population target of around 800 bears, a level at which it considers they are not at risk of extinction Hyogo prefecture says it is the first in Japan to use information gathered from microchipped bears to determine an appropriate population size and maintain a balance between conservation and population control. The initiative began in 2003, when bears in Hyogo were considered to be at risk of extinction and officials launched a survey primarily aimed at conservation. Researchers implanted identification chips in captured bears, accumulated data on the animals and developed their own formula to estimate the overall population. As bear numbers recovered, the prefecture shifted its focus to managing the population while preventing a return to endangered levels.

July 6, 2026
Education chief argues students must master technology, not be disconnected from it
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Education chief argues students must master technology, not be disconnected from it

As Hong Kong marks the 29th anniversary of its return to Chinese rule on July 1, the South China Morning Post talks to the city’s senior officials about the administration’s achievements so far and what may lie ahead. Hong Kong students should not be barred from using technology and electronic devices simply because they do not know how to use them responsibly, the city’s education minister has said, arguing that the next generation must learn to navigate the digital era. Secretary for Education...

July 6, 2026
A Trump visit to Hong Kong would be a strategic masterstroke
Business

A Trump visit to Hong Kong would be a strategic masterstroke

If one word could capture the essence of Hong Kong, it would be resilience. Just two years ago, much of the international community had written off Hong Kong. A widely circulated newspaper commentary carried the headline: “It pains me to say Hong Kong is over”. Though the writer later changed his opinion, the piece captured the pessimism about the city’s future as a global hub. Hong Kong’s dramatic comeback is well documented. According to Boston Consulting Group, the city has overtaken...

July 6, 2026
China restaurant sparks debate after selling simple tomato scrambled egg dish for US$75
Business

China restaurant sparks debate after selling simple tomato scrambled egg dish for US$75

Shanghai eatery grabs eyeballs on social media after pricing common cooked food item dozens of times above market average A Shanghai restaurant has captured attention on mainland Chinese social media for launching a special dish of stir-fried tomato and scrambled eggs at an exorbitant price of 520 yuan (US$75), triggering a heated discussion. The dish itself is among the most common, affordable household food items in the country, containing ordinary ingredients – tomatoes and eggs. But the dish served at Jinlong Dabianlu Restaurant in Hongkou district in downtown Shanghai is sold at 520 yuan, dozens of times more expensive than its counterparts in other eateries, according to news portal Sina. In recent weeks, some bloggers visited the restaurant, ordered the dish and filmed the cooking process before sharing the clip on social media. According to these viral videos, the chef used a rather large, dark green emu egg, instead of chicken or duck eggs. He said the eggshell was so thick that he had to use a small hammer to break it.

July 6, 2026
South Korean won holds steady as historic 24-hour trading begins
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South Korean won holds steady as historic 24-hour trading begins

The round-the-clock trading is the centrepiece of South Korea’s years-long effort to improve foreign access to local markets The won eased 0.1 per cent to 1,531.40 against the US dollar, after rising as much as 0.2 per cent when it started trading at 6am. Other major currency pairs were little changed. It also reflects how the economy has evolved to one investing more overseas, making it harder to justify limiting trading to South Korean business hours. “This is the starting point for the won’s global leap,” said Finance Minister Koo Yun-cheol during a visit to a local bank’s trading floor on Monday. The move is a core infrastructure designed to provide the level of accessibility and convenience in FX trading comparable to advanced markets, according to Koo.

July 6, 2026