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US Defence Secretary Pete Hegseth’s designation of Washington-Beijing ties as “G2” carries a “deeply problematic” meaning that sidelines United States’ allies and partners in the region, a US lawmaker has stated in a letter.“This term carries deeply problematic connotations of depicting the United States and PRC [the People’s Republic of China] as coequal and primarily cooperative powers responsible for deciding global issues while sidelining US democratic allies and partners,” the letter said.“In reality, the Chinese Communist Party (CCP) views the United States as its primary strategic adversary and is making unrelenting efforts to replace it as the world’s most powerful…

Philippine prison authorities have denied that convicted former mayor Alice Guo was receiving special treatment at the Correctional Institution for Women after reports claimed she had been given access to a mobile phone and allowed to receive unauthorised visitors.The allegations emerged days after Guo – sentenced to life imprisonment for human trafficking linked to illegal online gaming and scam operations – was transferred to the country’s main women’s prison.“Guo, along with all inmates, is subject to the same regulations and restrictions, with no special privileges afforded to her or any other persons deprived of liberty,” the Bureau of Corrections said…

With their domestic profits narrowing and production capacity expanding, China’s firms are continuing to widen their overseas footprints in search of new, more lucrative markets. In this series, we examine China Inc.’s next phase of “going global” and the complex, challenging international environment its companies have chosen to enter.Chinese biotech companies are expected to make major international advances over the next decade, industry leaders said, but cautioned that weak patent portfolios and protectionist measures in foreign countries may hinder this progress.As the sector’s manufacturing base and supply chain strengthen and the global appetite for biotechnology continues to grow, building an…

Jingdong Industrials – the supply-chain arm of China’s e-commerce giant JD.com – debuted on the Hong Kong stock exchange on Thursday, raising HK$2.98 billion (US$383 million) after pricing its initial public offering (IPO) in the middle of the marketed range.Shares were offered at HK$14.10 each and oversubscribed by 60 times, in a deal seen as a test of investor appetite for Chinese supply-chain technology spin-offs in Hong Kong’s resurgent listings market.They fell by 2.6 per cent during morning trading to HK$13.74, mirroring the soft performance in grey market trading the previous day, despite the strong demand for the offer.Jingdong Industrials…

Jingdong Industrials – the supply-chain arm of China’s e-commerce giant JD.com – debuted on the Hong Kong stock exchange on Thursday, raising HK$2.98 billion (US$383 million) after pricing its initial public offering (IPO) in the middle of the marketed range.Shares were offered at HK$14.10 each and oversubscribed by 60 times, in a deal seen as a test of investor appetite for Chinese supply-chain technology spin-offs in Hong Kong’s resurgent listings market.They fell by 2.6 per cent during morning trading to HK$13.74, mirroring the soft performance in grey market trading the previous day, despite the strong demand for the offer.Jingdong Industrials…

China’s recent breakthroughs in fracking technology have the potential to usher in a new shale revolution that could solidify the country’s energy security and reshape the international oil order.That would see China join the United States, whose shale boom earlier this century enabled it to become the largest crude oil producer in the world. This fundamentally altered the international oil market, with significant impact on oil exporters, particularly members of the Organisation of the Petroleum Exporting Countries (Opec).The boom weakened Opec’s market power with a steady supply of crude oil, as global resources of unconventional oil, such as those trapped…

Hong Kong stocks rose on Thursday as investors bet on fresh stimulus ahead of the Central Economic Work Conference (CEWC), while sentiment was supported by the Federal Reserve’s rate cut and chair Jerome Powell’s optimism that the US economy will strengthen as the inflationary impact of tariffs fades.The Hang Seng Index rose 0.2 per cent to 25,584.71 at 11.05am local time. The Hang Seng Tech Index fell 0.5 per cent. On the mainland, the CSI 300 Index dropped 0.1 per cent and the Shanghai Composite Index lost 0.3 per cent.Lender HSBC Holdings surged 2.3 per cent to HK$114.30, while WeChat…

Hong Kong stocks rose on Thursday as investors bet on fresh stimulus ahead of the Central Economic Work Conference (CEWC), while sentiment was supported by the Federal Reserve’s rate cut and chair Jerome Powell’s optimism that the US economy will strengthen as the inflationary impact of tariffs fades.The Hang Seng Index rose 0.6 per cent to 25,689.86 at 10am local time. The Hang Seng Tech Index fell 0.3 per cent. On the mainland, the CSI 300 Index dropped 0.2 per cent and the Shanghai Composite Index added 0.2 per cent.Toymaker Pop Mart International jumped 2.6 per cent to HK$195.40 after…

COPENHAGEN, Denmark (AP) — As Australia began enforcing a world-first social media ban for children under 16 years old this week, Denmark is planning to follow its lead and severely restrict social media access for young people.The Danish government announced last month that it had secured an agreement by three governing coalition and two opposition parties in parliament to ban access to social media for anyone under the age of 15. Such a measure would be the most sweeping step yet by a European Union nation to limit use of social media among teens and children.The Danish government’s plans could…

Hong Kong’s Hang Seng University has acquired office units in a commercial building in the New Territories for HK$90 million (US$11.6 million), making it the latest school to purchase real estate amid a government push to turn the city into a global education hub.The acquisition covers 16 office units measuring 19,139 sq ft on the 11th floor of Metropole Square in Sha Tin, together with four car parking spaces. The seller was listed company Alco Holdings, which manufactures and sells consumer electronic products in the Asia-Pacific region, according to a filing with the Hong Kong stock exchange on Wednesday night.The…