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Will Manila and Hanoi’s maritime deal challenge Beijing in the South China Sea?
Industry

Will Manila and Hanoi’s maritime deal challenge Beijing in the South China Sea?

A new cooperation agreement chips away at China’s bilateral negotiation tactic, but experts say its value is mostly symbolic A decade after Beijing rejected the ruling by The Hague’s Permanent Court of Arbitration on its South China Sea claims, rival nations continue to manoeuvre for control. In the second of our series on the anniversary, Alyssa Chen explores how deepening maritime cooperation between the Philippines and Vietnam could affect China’s regional strategy. “Maintaining peace, stability and the freedom of navigation and overflight in the South China Sea remains non-negotiable,” Marcos said. The two countries “remain resolute in their commitment to the peaceful resolution of disputes”, he said, adding that this approach would be grounded in international law. As part of that upgrade, Manila and Hanoi also agreed to implement a hotline and improve coordination between their coastguards to prevent accidental clashes in disputed waters. The move came at a symbolically important time – just weeks before the 10th anniversary of the ruling by The Hague’s Permanent Court of Arbitration that dismissed China’s expansive claims to most South China Sea features.

US National Science Foundation to ban projects with flagged Chinese institutions
Industry

US National Science Foundation to ban projects with flagged Chinese institutions

The United States’ National Science Foundation (NSF) is set to ban collaborations with Chinese research institutions designated as restricted entities, as well as their employees, under a new policy that moves away from seeking to balance security risks with the benefits of international collaboration. The policy reflects a broader congressional push by House Republicans to curb academic partnerships between China and the US, amid lawmakers’ concerns that such ties could contribute to Beijing’s...

US tariff probe unlikely to derail fall Xi-Trump meeting: analysts
Industry

US tariff probe unlikely to derail fall Xi-Trump meeting: analysts

The ongoing US tariff investigations against China and Washington’s other trading partners are unlikely to significantly impair bilateral ties or the planned meeting in September between US President Donald Trump and Chinese leader Xi Jinping, analysts said on Monday. “China is just one of a group of countries. So it’s less insulting to China,” said Wei Liang, a professor at the Middlebury Institute for International Studies at Monterey. The Trump administration has launched two major Section...

Lindsey Graham’s death removes one of Washington’s most influential China hawks
Industry

Lindsey Graham’s death removes one of Washington’s most influential China hawks

Graham’s sister will fill his Senate seat, but his role as one of Trump’s closest foreign policy advisers may prove harder to replace The death of US Senator Lindsey Graham has removed one of Washington’s most influential advocates of a hardline approach towards China at a moment when Republicans are debating how aggressively the United States should confront Beijing and project military power overseas. On Monday, South Carolina Governor Henry McMaster appointed Graham’s sister, Darline Graham Nordone, to fill the vacant Senate seat. McMaster said he spoke with Nordone by phone on Sunday and she agreed to serve. Attention is now turning to whether Nordone, or anyone else, will inherit the late lawmaker’s unusually prominent role as both a congressional China hawk and a close foreign policy adviser to US President Donald Trump. “I promise to work hard over the next several months, to support the president, and carry forward the efforts of my brother,” Nordone said.

Shein executive chairman to step down as IPO nears completion, sources say
Industry

Shein executive chairman to step down as IPO nears completion, sources say

The departure of Chinese-American billionaire Donald Tang raises the question of whether founder Sky Xu will now step into the spotlight Shein Executive Chairman Donald Tang will step down as his mission of taking the company public nears completion, three sources with direct knowledge of the matter said on Monday, retreating to an advisory role after three years as the public face of the global fast-fashion retailer. A Chinese-American billionaire who began his career in banking, Tang has acted as the Western proxy of ‌secretive Shein founder Sky Xu, liaising with politicians and regulators around the world while also representing the e-commerce group at conferences and other public events. His planned departure raises the question of whether Xu will now step into the spotlight, assign one of his co-founders to that role, or bring in another external leader. Tang, 63, will move to a role as senior adviser and continue to work closely with the management team for the foreseeable future, said a source with knowledge of the company’s thinking, adding that there is no fixed timetable for the transition.

Pentagon invests US$25 million into rare earths start-up ReElement Technologies
Industry

Pentagon invests US$25 million into rare earths start-up ReElement Technologies

The move is part of a push by the US to boost domestic supplies of critical minerals and challenge ‌China’s dominance of the sector The US Department of Defence ⁠said on Monday ⁠it would invest US$25 million ⁠in rare earths start-up ReElement Technologies, part of a broader push by the Trump administration to boost domestic supplies of critical minerals and challenge ‌China’s dominance of the sector. ReElement aims to use a novel processing technology to refine rare earths and other critical minerals at its planned commercial facility in Marion, Indiana. The rare earths are expected to be used ⁠in magnets found in a range of military equipment, including ‌fighter jets, missiles and submarines. It was not immediately clear if the US$25 million investment is in the ‌form of a grant, loan or another funding ⁠mechanism. Representatives ⁠for the Pentagon and ReElement were not immediately available to comment. China dominates ‌global rare earths processing and magnet production, a strategic supply chain the United ‌States and ‌its allies have been seeking to diversify.

Why ‘reverse tech transfer’ from China remains a non-starter in the US auto industry
Industry

Why ‘reverse tech transfer’ from China remains a non-starter in the US auto industry

Experts say political resistance blocks technology transfer that could help US carmakers compete with Chinese rivals For decades, Western carmakers complained that China forced them to hand over technology in exchange for access to the world’s largest auto market. As Chinese carmakers capture global market share with cheaper, high-quality electric vehicles, countries including Canada and members of the European Union are embracing a “reverse tech transfer” strategy – by seeking Chinese investment and technology to strengthen their own industries. The United States, however, is taking the opposite approach. Tariffs on Chinese EVs have expanded, Chinese-owned auto companies are being banned or put on notice, and lawmakers are weighing new legislation to block the new global leader in electric vehicles. Analysts say despite abundant scope for reverse tech transfer that could improve American carmakers’ competitiveness, Chinese companies would likely remain locked out of the market due to deep-seated barriers: geopolitical tensions, espionage concerns, economic protectionism, bipartisan opposition in Congress and resistance in local communities.

Trump to restore Iran blockade, charge fees for Strait of Hormuz shipping
Industry

Trump to restore Iran blockade, charge fees for Strait of Hormuz shipping

US president says Iranian ships and those trading with Iran will be barred, while other commercial traffic will pay a 20% transit fee Trump said Iranian vessels and ships trading with Iran would be barred from using the strategic waterway, while other countries would retain access under a system that would impose a 20 per cent fee on eligible cargoes. “We are reinstating the THE IRANIAN BLOCKADE, so named because it is only stopping Iran’s ships or customers from entering or leaving,” Trump said online. “All other countries will have fair and open use of the Strait.” The US president said the charge would help pay for “any and all costs necessary to do the job of providing safety and security to this very volatile section of the World”. As US forces struck Iran for a third consecutive night, Trump argued that the naval blockade had proven effective, particularly when paired with attacks on Iranian military infrastructure. He also suggested Washington should be compensated for protecting Gulf allies and ensuring the flow of commerce through the region. “We expect to be reimbursed because we are protecting a very rich part of the world ... Saudi Arabia, UAE, Qatar, Bahrain, Kuwait, they do very well,” Trump said on Monday afternoon.

Japan’s ‘destructive potential’ in South China Sea may eclipse the US: analyst
Industry

Japan’s ‘destructive potential’ in South China Sea may eclipse the US: analyst

Japan’s recent firing of an anti-ship missile was first time it had shown its ‘military muscle’ since World War II, security round table told He told the event – jointly organised by the institute with the Huayang Centre for Maritime Cooperation and Ocean Governance and the Asian Academy of International Law – there had been a steep rise in military deployments, joint exercises and maritime patrols by countries outside the region. During the exercise, Japanese forces fired a Type 88 surface-to-ship missile system outside its territory for the first time, using live rounds to strike a decommissioned Philippine Navy vessel. “This is the first time that Japan has shown off its military muscle since the end of World War II,” Wu said.

China’s drug industry pivots to AI-powered candidates to drive next wave of deals
Industry

China’s drug industry pivots to AI-powered candidates to drive next wave of deals

China develops 30 per cent of new therapies worldwide as it rises to the top tier in innovation efficiency, drug supervision official says China accounted for about 30 per cent of all new drugs currently under development worldwide, ranking second globally, according to Lan Gongtao, deputy director general of the Department of Drug Registration at the National Medical Products Administration. In the first six months, the 81 deals sealed by June 30 had already equalled about 80 per cent of last year’s full total, according to state media. The deals covered 10 therapeutic areas, including oncology, metabolic diseases, immunology and neurology, the reports said. Buyers came from 20 countries and regions, mainly the US, the UK, France and Italy.

China to make car connectivity mandatory as US moves to tighten ban
Industry

China to make car connectivity mandatory as US moves to tighten ban

New vehicles with smart driver assistance systems will have to support continuous safety monitoring, data recording and remote management A national standard released by the Ministry of Industry and Information Technology on July 2 requires all new vehicles equipped with intelligent driver assistance systems to support continuous safety monitoring, data recording and remote management. The safety standard will apply to newly approved vehicle models from January next year, as Beijing pushes ahead with more connectivity on the roads despite growing overseas restrictions. On Wednesday, the US Senate Committee on Commerce, Science and Transportation will vote on a bipartisan bill to strengthen a ban on Chinese carmakers entering the American market, Reuters reported on July 8. It would shut out Chinese vehicles from the US market and also ban connected vehicle components and related technologies, with lawmakers arguing they could provide Beijing with access to sensitive infrastructure and personal data.

China joins US in reusable orbital rocket capability
Industry

China joins US in reusable orbital rocket capability

China has become just the second country after the United States to achieve the controlled recovery of a reusable orbital space rocket. Friday’s successful capture at sea of the booster stage of a Long March-10B rocket after its maiden launch used a novel technique different from that of Elon Musk’s recently listed SpaceX and previous Chinese attempts. Instead of landing using extendable hydraulic legs, the rocket stage used its engines to position itself over a floating platform in the South...