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Industry

Fresh US tariffs on 60 economies; first China duo win Fields Medal: SCMP’s 7 highlights

We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. Liberation Day 2.0? US slaps fresh wave of tariffs on China, 50-plus economies The United States imposed late on Thursday a fresh wave of tariffs against 60 countries, including China, Japan, South Korea, India and European Union...

July 24, 2026

Industry

Vatican and Beijing agree on new China bishop as ordination fills 20-year vacancy

Appointment of Roman Catholic prelate in Inner Mongolia highlights uneasy yet continuing diplomatic engagement on sensitive issue The ordination fills a vacancy for the Catholic diocese of Chifeng that had lasted nearly two decades, following the 2006 death of Andreas Zhu Wenyu, according to AsiaNews, a Catholic missionary news agency based in Italy. Zhu had been ordained bishop without a papal mandate in 1990, “but later, like other Chinese bishops, he requested and was granted re-entry into communion with Rome”, the report said. Chang had served as Chifeng’s diocesan administrator since 2021. The ordination of the 42-year-old priest was presided over by Bishop Paul Meng Qinglu of Hohhot, deputy chairman of the Chinese Catholic Patriotic Association, according to the association’s official website. About 400 people attended the ordination, including priests, nuns and lay representatives from across Inner Mongolia.

July 24, 2026

Industry

Nobel economist on anti-China, anti-science US, AI’s risks

Simon Johnson is a professor of entrepreneurship at the Massachusetts Institute of Technology (MIT). A former chief economist of the International Monetary Fund (IMF), he won a joint Nobel Prize for economics in 2024 for his research into how institutions shape national prosperity. On June 8, the British government announced Johnson as chair of its new AI Economics Institute. In this interview, conducted on the sidelines of the UBS Asian Investment Conference in Hong Kong, Johnson discussed the...

July 24, 2026

Industry

Why PLA fighter jet sorties near Taiwan dropped to a 3-year low in the first half of 2026

Beijing is shifting cross-strait military strategy, halving aerial missions and increasing coastguard patrols in the waters near the island In the first half of this year, the number of People’s Liberation Army (PLA) fighter jets detected near the island more than halved year on year to 1,334. It was a three-year low and marked the lowest operational tempo since 2023, according to a tally by the South China Morning Post based on data from Taiwan’s defence ministry. At the same time, the number of days no PLA jets were detected by Taiwan hit a new high, and the PLA did not stage any large-scale drills around the island – a first since 2022. Those drills set new norms, with mainland China sending fighter jets and later, vessels, near the island on an almost daily basis.

July 23, 2026

Industry

US senators clash over scope of Chinese connected-vehicle ban

Senator Ted Cruz, chairman of US Senate Committee on Commerce, warns substantial revisions will be needed before bill can become law It would also restrict the use of covered vehicle software and hardware on national security grounds. The bill would also prohibit vehicles made by companies with significant Chinese ownership. Under the bill, a connected vehicle could be prohibited if its manufacturer is more than 15 per cent owned or controlled by a Chinese entity or a combination of Chinese entities. “What we don’t want to do is [to] cede this entire industry to the Chinese,” said Senator Bernie Moreno, an Ohio Republican and the bill’s lead sponsor.

July 23, 2026

Industry

US slaps fresh tariffs on China, 50-plus countries in latest wave

The United States imposed late on Thursday a fresh wave of tariffs against 60 countries, including China, Japan, South Korea, India and European Union member states, hours before a temporary 10 per cent blanket levy was due to expire. The tariffs, ranging from 10 to 12.5 per cent, are the outcome of a Section 301 investigation into forced labour, with Washington arguing that existing measures have failed to keep goods produced with forced labour out of supply chains. “Today’s action will begin...

July 23, 2026

Industry

As the West finds common cause, China prepares for the worst

Mid-July should have been a moment of quiet satisfaction in Beijing. Fresh data showed China’s favourability surpassing that of the United States in 25 of 37 nations surveyed by Pew Research Centre, including key European countries. Domestically, the second-quarter gross domestic product growth of 4.3 per cent, while softer than the first financial quarter, kept the annual target within reach. The logic was simple: with the US distracted by Donald Trump’s erratic trade wars and isolationist...

July 23, 2026

Industry

China vows to defend Brazil’s sovereignty as Trump’s 25% tariff bites

Chinese Foreign Minister Wang Yi told Brazil that Beijing would continue to support its sovereignty, security, and development interests hours after a 25 per cent US tariff on Brazilian goods took effect. Wang met Brazilian Foreign Minister Mauro Vieira on Wednesday in Manila, on the sidelines of the 59th meeting of the Association of Southeast Asian Nations (Asean) foreign ministers, where Vieira is also attending the third Brazil-Asean ministerial. China would go on to “support Brazil in...

July 23, 2026

Industry

Pentagon expands blacklist to include China’s top civilian universities

Fudan and Shanghai Jiao Tong join Defence Department research blacklist, extending US restrictions beyond military-linked institutions The Pentagon has added Fudan University and Shanghai Jiao Tong University to a list of foreign institutions deemed a threat to US national security, extending Washington’s research-security crackdown to two of China’s most prestigious civilian universities. The updated list identifies 88 institutions in mainland China and bars US Department of Defence-funded researchers from collaborating with them, or using their equipment, under restrictions taking effect in the 2026 financial year. The additions mark a widening of Washington’s campaign against what it describes as unwanted Chinese influence and technology transfer in American research. While the list has long included People’s Liberation Army academies and universities closely associated with China’s defence industry, its expansion to Fudan, Shanghai Jiao Tong and other prominent civilian institutions could affect a much broader network of scientific partnerships.

July 23, 2026

Industry

EU waters down Russia sanctions over fears China could seize key LNG assets

Bloc concludes banning Greek companies from transporting Russian gas to third countries may hand strategic shipping advantages to Beijing Officials explained that China’s role in maritime finance and shipping was behind the carve-out, underscoring the leverage Beijing has built across many sectors of the global economy. “The bulk of these vessels has been bought through financial arrangements with … a loan with a very long repayment schedule with Chinese investors, and the Chinese are also shareholders of the company,” a senior EU official explained. “So, if the company will not be able to repay the loan thanks to what they get in terms of revenues from the business, they will simply need to lose control of assets and give it back to the investor,” they added, describing the situation as “very serious” and “a very big risk”.

July 23, 2026

Industry

Trump’s manufacturing push meets reality as costs rise and investment stalls

At Zion Foodtrucks in the US state of Colorado, American-made steel and aluminium are combined with globally sourced stoves, refrigerators, vents and titanium piping to transform everyday vehicles into mobile restaurants. But instead of benefiting from Donald Trump’s push to revive US manufacturing, the company says it has been squeezed by higher costs and tougher competition. Since taking office, the US president’s import taxes on steel and aluminium have hit 50 per cent tied to his “beautiful”...

July 23, 2026

Industry

What do the PLA’s ‘Steel Rain’ shells say about its war plans for Taiwan?

New airburst munitions that shower targets with metal fragments are designed to attack personnel and lightly protected equipment Released on Sunday by the PLA-affiliated China Military Bugle social media channel under the title “Steel Rain”, the footage shows several PHL-191-launched rockets detonating above what appears to be a desert training range, showering a wide area with high-speed metal fragments. The video appears intended to highlight an airburst fragmentation warhead designed to attack personnel and lightly protected equipment. Analysts say the footage suggests that, in a Taiwan conflict, Beijing could prioritise efforts to disrupt Taiwan’s ability to detect, communicate and respond before larger air and amphibious operations begin. “The use of airburst rockets is notable because it signals that these particular weapons would not be used for targeting assets that Taiwan normally stores in mountains and bunkers,” said Mike Bosack, director of the Parley Policy Initiative.

July 23, 2026