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China, US solicit opinions on tariff cut measures: commerce ministry

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. The Chinese and US economic and trade teams are discussing a reciprocal tariff reduction framework, with each side planning tariff cuts worth $30 billion, Meng Huating, an official of China's Ministry of Commerce, said on Thursday. In response to a question regarding progress on the establishment of the China-US trade and investment councils at a press conference, Meng said that the economic and trade teams of both countries are currently maintaining close communication on specific arrangements for the trade council, such as its structure, functions, and operational models. The Chinese side is soliciting extensive opinions from domestic enterprises, business associations, local governments, US business associations and other stakeholders on the proposed tariff reduction plans, she said. Meanwhile, the US side is collecting public comments concerning the trade council and the reciprocal tariff cut arrangements, Meng said.

July 23, 2026

Business

Global leaders share their takes on China’s AI progress

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. Global leaders have shared their takes on China's AI progress, and how it's helping shape the future of AI worldwide.

July 23, 2026

Business

Foreign firms deepen China investment as high-tech gains momentum

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. Lujiazui skyline at the Bund viewing platform, Shanghai, China, July 10, 2026. /VCG China remains an attractive destination for foreign investment, with nearly 4,800 foreign-funded companies increasing their investment in the country in the first half of 2026, according to a press conference held by the State Council Information Office on Thursday. During the first six months of the year, China saw the establishment of new foreign-invested enterprises rise 5.3% year-on-year, with foreign direct investment (FDI) in actual use reaching 402.1 billion yuan ($59.2 billion). The structure of foreign investment continued to improve, with investment in high-tech industries surging 33.2% year-on-year, accounting for 42.4% of the total. The Ministry of Commerce said it will further implement policies encouraging foreign investment, guiding overseas investors toward advanced manufacturing sectors, including organic polymer materials and energy-efficient magnetic levitation power equipment, as well as modern services such as humanoid robot R&D and high-end shipping services.

July 23, 2026

Business

Foreign institutions voice strong confidence in Chinese assets

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. Lujiazui, the financial hub of Shanghai, China, viewed from a drone perspective. /VCG A growing number of global financial institutions are upgrading their outlook on Chinese equities, with major players including Citi, UBS and Standard Chartered releasing bullish market outlooks in July. The shift signals a broader reassessment of China's strategic value in global portfolios. Citigroup upgraded China from "neutral" to "overweight" in its H2 2026 emerging market outlook, citing reasonable valuations, light investor positioning and potential benefits from global growth improvements & lower oil prices. The bank set year-end targets of 29,600 points for the Hang Seng Index and 5,600 points for the CSI 300 Index, with the MSCI China Index target at $92, implying approximately 31% upside potential.

July 23, 2026

Business

Hitler’s Austrian birthplace reopens as a police station to deter neo-Nazis

Following a years-long legal saga and redesign, Austria aims to erase the building’s allure for pilgrimages Adolf Hitler’s birthplace in Austria was officially inaugurated as a police station on Wednesday in an effort to destroy the building’s appeal as a site of pilgrimage for people who glorify the Nazi dictator. A memorial stone is to remain in place outside the house in Braunau am Inn near the German border with the inscription: “For freedom, democracy and liberty. Never again fascism. Millions of dead remind us”. Hitler was born in the building on April 20, 1889. His family moved to another residence in Braunau am Inn after only a few months, before settling temporarily in Passau in southern Germany. Fuelled by racial fanaticism, Hitler’s Nazi regime killed approximately 6 million Jews and other minorities and groups during the Holocaust. The dictator unleashed World War II in which at least 60 million people died. He committed suicide in April 1945, shortly before the end of the war.

July 23, 2026

Business

South Korean labour unions push for higher payouts after Samsung’s US$400,000 bonus

What began with workers calling for Samsung and SK Hynix to share profits reaped from the AI boom is spilling over to other industries Meanwhile, unions at HD Hyundai Heavy Industries and telecoms operator LG Uplus want payouts equivalent to at least 30 per cent of operating profit, while workers at Hanwha Aerospace and HD Hyundai Electric want to scrap bonus caps altogether. In tech, thousands of employees at Kakao, which operates South Korea’s largest messaging service, went on strike for the first time last month, demanding that up to 15 per cent of operating profit be allocated for bonuses. The union at Naver, the country’s top search engine provider, is forming a coalition with counterparts at multiple affiliates to strengthen their negotiating power.

July 23, 2026

Business

Time for deeper, detailed exchanges between Hong Kong and mainland Chinese courts

As economic ties between the two places grow, there is also a need for more specific exchanges between courts to deepen our understanding of issues One of the main features of the “one country, two systems” principle is that, despite our physical proximity, Hong Kong has a very different set of laws from those of mainland China. Very often, we talk about our differences when explaining the system to one another. But at heart, both legal systems seek to deliver justice in real-life situations. Indeed, our connections with the Chinese mainland, in particular the Greater Bay Area, are growing closer every day. Many economic and commercial activities cross the border. There are many commercial transactions involving both Hong Kong and mainland Chinese law. Disputes arise, and the courts in both Hong Kong and mainland China increasingly have to grapple with cross-border issues. It is against this backdrop that mutual understanding of specific commercial law concepts becomes more beneficial.

July 23, 2026

Business

Chinese doctor wades through severe floodwaters to reach patients, winning widespread praise

Obstetrician has appointments to perform operations on two pregnant women, pushes bike through waist-high water to get to hospital A man in northeastern China who was filmed pushing his bicycle through deep water on his way to work amid torrential rain has trended on social media. The video triggered an outpouring of emotion after internet users learned that the man was a doctor who had appointments to perform surgery on two patients that day, state news agency Xinhua reported. It was on July 13 when Shenyang, in Liaoning province, was hit by a serious downpour, with precipitation measuring 230mm. The local government announced that it was the heaviest rainfall since 1951. Numerous roads were flooded and most public transport was paralysed. The authorities urged the public to suspend their work and studies. But according to China’s laws, some people with special duties, such as medical workers, soldiers, police officers and firefighters, should stay at their posts.

July 23, 2026

Business

‘She’s blown it’: support frays for Japan PM Takaichi over controversial laws

Recent opinion polls show Takaichi’s approval rating slipping, reflecting the public’s disdain for her priorities, analysts say “She was given an immense mandate with a two-thirds majority for her own party, so there should have been nothing to obstruct her policies and no need to extend the Diet session, which they have just done,” said Michael Cucek, a professor of Asian Studies at Temple University’s Tokyo campus. “In short, she has blown it and I see these opinion polls as more of a performance review than a sign that Takaichi’s ‘honeymoon period’ has come to an end.”

July 23, 2026

Business

Philippines storm may intensify into typhoon, approach Hong Kong this weekend

‘Under its influence, there will be strong winds, heavy squally showers and thunderstorms along the Guangdong coast from late Saturday to Sunday,’ forecaster says A tropical depression near the Philippines could intensify into a typhoon and move closer to Hong Kong over the weekend, with a possible landfall less than 400km (249 miles) east of the city, the forecaster has said. The Hong Kong Observatory said on Thursday that the tropical depression had formed over waters east of the Philippines and was expected to move west-northwest at about 25 km/h (15.5mph). “The tropical depression over the seas east of the Philippines will enter the northeastern part of the South China Sea later this week and intensify progressively, with a higher chance of moving towards the vicinity of the coast of eastern Guangdong over the weekend,” it said. According to its latest track forecast, the system is expected to make landfall in Huilai county in Jieyang, Guangdong, as a typhoon, with maximum sustained winds near the centre of about 120 km/h, early on Sunday. The projected landfall location is less than 400km east of Hong Kong.

July 23, 2026

Business

China’s crackdown on AI companions won’t fill the emotional void

Instead of just addressing AI misuse on a surface level, policymakers should explore how to support those seeking social comfort According to the rules, AI-human interactions should not encourage violence or harm users’ physical and psychological well-being. Moreover, AI bots should not lure users into sharing secrets, or lead them to become so dependent that it damages real-world relationships. The regulations specifically mention children, stating that AI should not provide virtual relatives or partners, and that there must be different modes for adults and minors. What’s not to like? Instead of one life, you can live many. AI lovers come across as attentive, remember details and almost always agree with you. That’s better than 90 per cent of real men.

July 23, 2026

Business

After latest clash at sea, China warns Philippines of ‘bitter consequences’

Chinese Foreign Minister Wang Yi on Wednesday warned his Philippine counterpart that Manila would “bear the bitter consequences” if it tried to provoke Beijing with the help of other countries. Wang made the remark as he lodged a “strong protest” during talks with Theresa Lazaro, the Philippines’ top diplomat, in Manila over what he called an “aggressive act of ramming a Chinese law enforcement vessel” at a disputed reef in the South China Sea on Monday. It was the third day Beijing has...

July 23, 2026