China

China sets ‘technological self-reliance’ as a key goal for the next 5 years
30Oct mmBy Brian ThompsonNo Comments
Asia, China

China sets ‘technological self-reliance’ as a key goal for the next 5 years

China’s top leadership has made “technological self-reliance and self-strengthening” a key goal in a proposal for the next five-year plan, as it grapples with export controls from the West amid an intensifying global tech race. It is the first time in at least a decade that technological self-reliance has been set as a major goal for the country’s social and economic development. The goal was included in a detailed proposal for China’s 15th five-year plan from 2026 to 2030, which was released on Tuesday by the Central Committee of the ruling Communist Party following its fourth plenum last week. The full plan will be unveiled in March during the annual session of the top legislature. The proposal was released following a key political meeting last week....
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Openmarkets to raise USD $50 million for Asia DeFi expansion
30Oct mmBy Brian ThompsonNo Comments
Asia, China, Market

Openmarkets to raise USD $50 million for Asia DeFi expansion

penmarkets Group has announced that it is exploring a capital raise of USD $50 million to support its expansion in Asia and the development of decentralised finance (DeFi) capabilities. The Sydney-based fintech firm is targeting family offices and private wealth investors in Asia and the United States, with capital being raised to advance its DeFi strategy and broaden its presence in Singapore, the United States, Hong Kong, and select Southeast Asian markets. According to Openmarkets Group, the capital will be used to introduce crypto trading, facilitate the tokenisation of real-world assets, and establish a digital assets treasury. The firm also plans to launch its own stablecoin and develop a centralised exchange for digital assets as part of its medium-term objectives. Exp...
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Quantum computing threat looms over Asia’s financial systems: ‘we are not secure’
29Oct By Online DeskNo Comments
China

Quantum computing threat looms over Asia’s financial systems: ‘we are not secure’

Swathes of Asia’s financial systems are vulnerable to potential disruption from quantum computing technology, including those hosting secure transactions, industry executives have warned. Only a handful of major economies in the region, such as China, Japan, South Korea and Singapore, have embarked on strategies to safeguard their systems, but most financial institutions across the region are vulnerable to quantum attacks because they are ill prepared, experts say. The threat looms even as digital wallets and real-time payment systems are widely being used and deeply integrated into the financial systems. Quantum computing is a new branch of processing which can solve complex problems within minutes or hours that might take a classical computer thousands of years to crack. Wh...
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China’s EV Subsidy Era May End As Exports Boom, Priorities Shift
29Oct mmBy Brian ThompsonNo Comments
China

China’s EV Subsidy Era May End As Exports Boom, Priorities Shift

A decision by Chinese policymakers this month to not include electric vehicles among the strategic industries for the country’s latest five-year development plan is a clear signal that Beijing is about to leave behind an era of lucrative subsidies for the sector, experts say. China published its five-year development plan for 2026-2030 on Tuesday and for the first time in 15 years, new energy vehicles (NEVs) were not included in its list of strategic emerging industries. NEVs comprise EVs, plug-in hybrids, and fuel-cell vehicles. Analysts say the move is evidence that Beijing considers the industry to be mature and no longer requires the same level of financial support, leaving its development up to market forces. “It’s an official acknowledgement that electric vehicles no lo...
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In Southeast Asia, Guterres presses the case for climate action
27Oct mmBy Brian ThompsonNo Comments
China

In Southeast Asia, Guterres presses the case for climate action

Amid deepening global divides and economic uncertainty, the United Nations called for stronger multilateral cooperation and sweeping reforms to global financial and governance systems, emphasising the need for a “networked, multipolar world” where equity and inclusion guide decision-making. Addressing a joint summit between the UN and Southeast Asian nations in Kuala Lumpur on Monday, Secretary-General António Guterres described the region as “a beacon of cooperation” and a vital pillar of global stability. With Timor-Leste’s accession, he said, the collective spirit of the regional organization known as ASEAN had “grown stronger,” making the bloc an essential partner in shaping “a more balanced and interlinked world.” The Association of Southeast Asian Nations...
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US-China now in a ‘very different kind of trade war’, experts warn
23Oct mmBy Joe RodriguezNo Comments
Asia, China, USA

US-China now in a ‘very different kind of trade war’, experts warn

China’s recent expanded export restrictions on rare-earth metals was a ‘power play’; before Trump-Xi meeting while the Trump administration ‘doesn’t quite know’ how to deal with Beijing. Relations between the United States and China are tense, once again, with experts saying that the administration of US President Donald Trump “doesn’t quite know how to deal with China”. The latest flare-up took place when Beijing, on October 9, expanded its restrictions on the export of rare-earth metals, increasing the number of elements on the list. China has the largest reserves and the majority of processing facilities of rare-earth metals that are used in a range of daily and critical industries like electric vehicles, smartphones, laptops and defence equipment. In a first, it also r...
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Taiwan sees ‘worrisome trends’ in China: Economy is in trouble, but Xi purges military generals
23Oct mmBy Brian ThompsonNo Comments
China

Taiwan sees ‘worrisome trends’ in China: Economy is in trouble, but Xi purges military generals

Taiwan’s National Security Council head Joseph Wu said on Tuesday that China is more focused on expansionism than addressing its own economic and social difficulties, as he reaffirmed the island’s determination to defend itself from any Chinese aggression. Wu made the remarks during a forum in Taipei, criticising Beijing’s ruling Communist Party for intensifying military and diplomatic pressure on Taiwan instead of solving domestic challenges. China claims Taiwan as its own territory, while the island’s democratically elected government rejects Beijing’s sovereignty claims. China’s internal purge and military display Wu pointed out that China’s leadership is holding a key plenum of senior officials this week, yet attention remains on the purge of top military officers rather ...
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Trump’s hand in the tariff war he started gets weaker as China GDP comes in ahead of growth forecasts
21Oct mmBy Brian ThompsonNo Comments
China

Trump’s hand in the tariff war he started gets weaker as China GDP comes in ahead of growth forecasts

President Trump outlined his demands for China to avoid a 100% tariff hike next month, calling for more U.S. soybean purchases and action on fentanyl, while insisting Beijing “has to give us things” in return for easing trade tensions. Yet China’s growing economic strength has undercut Washington’s leverage: Chinese GDP rose 5.2% in the first three-quarters of 2025, and exports to non-U.S. markets surged 14.8% even as shipments to America fell. Beijing’s diversification strategy suggests it is weathering the tariff war far better than Trump may have anticipated. This weekend President Trump laid down the law on what he wants from China in order to ease restrictions in the tit-for-tat tariff war, which has been ramping up since he returned to the Oval Office. But for all the ...
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China’s 3Q GDP slowdown less than feared amid external demand boost
20Oct mmBy Brian ThompsonNo Comments
China

China’s 3Q GDP slowdown less than feared amid external demand boost

Chinese GDP slowed by less than expected in the third quarter amid the boost from external demand. With China on track to hit this year's growth target, we could see less policy urgency. But weak confidence translating to soft consumption, investment, and a worsening property price downturn still needs to be addressed GDP growth slowed by less than expected in 3Q25 China's GDP grew by 4.8% year-on-year in the third quarter, slowing for a second consecutive quarter from the 5.2% growth in the second quarter. Still, the economy managed to beat expectations for a steeper decline. Through the first three quarters of the year, China's economy has grown by 5.2% YoY. By industry, China's tertiary industry drove growth in 3Q25 with a 5.4% YoY growth, comfortably outpacing growth...
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Starmer’s China Woes Mean an ‘Unwieldy Mess’ Just Got Messier
18Oct mmBy Brian ThompsonNo Comments
China

Starmer’s China Woes Mean an ‘Unwieldy Mess’ Just Got Messier

When it comes to China, the EU tried gently to ‘de-risk’ without ‘de-coupling’. Donald Trump put America first and launched a full-on trade war. Until last week, the UK took an approach that looked a lot like muddling through. When it comes to China, the EU tried gently to ‘de-risk’ without ‘de-coupling’. Donald Trump put America first and launched a full-on trade war. Until last week, the UK took an approach that looked a lot like muddling through.  That luxury’s no longer available to it after the collapse of a high-profile espionage trial thrust relations with Beijing firmly into the spotlight. The UK’s public prosecutor last month dropped the case against two men accused of spying for the Chinese government, heaping pressure on Prime Minister Keir Starmer amid claims he shou...
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