China’s growth target cut reflects pragmatism amid challenges
China set the lowest economic growth target since 1991 as the country contends with global trade ten...
China set the lowest economic growth target since 1991 as the country contends with global trade ten...
China unveiled its major economic and social development targets for 2026 at the opening session of the National People's Congress. The government set a GDP growth target of 4.5-5 percent, a consumer price index increase of around 2 percent, and a fiscal budget deficit of approximately 4 percent of GDP. The report also outlined priorities for innovation and military development for the year ahead.
A Los Angeles-class US attack submarine USS Charlotte fired an MK-48 torpedo at the Iranian warship IRIS Dena in the Indian Ocean, causing a massive explosion and sinking the vessel. The US Department of Defense released black-and-white video footage of the strike, highlighting it as a key element of its campaign against Iran aimed at weakening Iran's naval capabilities and preventing interference with maritime traffic.
Russian President Vladimir Putin warned on Wednesday that Russia could halt gas supplies to Europe amid energy price spikes triggered by the Iran crisis, linking the decision to the EU's push to ban Russian gas and liquefied natural gas purchases. Oil and gas prices have surged following US and Israeli military action against Iran and Tehran's retaliatory strikes on Gulf Arab neighbors, disrupting shipping through the Strait of Hormuz and forcing facility shutdowns.
US Treasury Secretary Scott Bessent stated on Wednesday that President Trump's plan to raise broad tariffs from 10% to 15% will likely be implemented this week. Bessent told CNBC that the increase "is likely sometime this week," providing the clearest timeline yet for when the US will execute Trump's tariff pledge. Trump had previously imposed a 10% tariff rate last month.
A US submarine sank an Iranian warship off Sri Lanka's coast, raising concerns across South and Southeast Asia that the Middle East conflict may expand into the Indian Ocean. The incident occurred near critical sea lanes linking Asia with the Gulf, heightening fears about regional trade security and intensifying political pressure in India for a stronger response. Analysts warn the strike's location could destabilize the strategic balance in the region.
A six-day-old war in Iran has rapidly escalated, drawing multiple Middle Eastern countries into the conflict following U.S. and Israeli military action. The situation has created the largest energy shock since Russia's 2022 invasion of Ukraine. While long-term consequences remain unpredictable, worst-case economic scenarios are beginning to materialize, highlighting markets' vulnerability to major geopolitical shocks.
China will prioritize technological innovation, economic security, public well-being, and carbon reduction over the next five years. Premier Li Qiang announced that the world's second-largest economy will release 20 growth targets—both binding and non-binding—across economy, technology, healthcare, and economic security sectors, laying groundwork for its 2035 goal of doubling per capita GDP from 2020 levels.
China unveiled its major economic and social development targets for 2026 at the opening session of the National People's Congress. The government set a GDP growth target of 4.5-5 percent, a consumer price index increase of around 2 percent, and a fiscal budget deficit of approximately 4 percent of GDP. The report also outlined priorities for innovation and military development for the year ahead.
A Los Angeles-class US attack submarine USS Charlotte fired an MK-48 torpedo at the Iranian warship IRIS Dena in the Indian Ocean, causing a massive explosion and sinking the vessel. The US Department of Defense released black-and-white video footage of the strike, highlighting it as a key element of its campaign against Iran aimed at weakening Iran's naval capabilities and preventing interference with maritime traffic.
The escalating Iran conflict has expanded its impact across the Middle East and surrounding regions. Nearly every Middle Eastern country has sustained damage from missile strikes, drone attacks, or shrapnel, with multiple nations reporting casualties. Key embassies, economic centers, and transportation routes have been forced to close. The conflict has extended beyond the region, with a US submarine sinking an Iranian warship off Sri Lanka's coast. Foreign governments have urged citizens to evacuate Middle Eastern countries.
US-Israeli military operations targeting Iran have escalated regional conflict, contradicting the Trump administration's stated goal of disengaging from distant conflicts to focus on China containment. Over one year into the second term, the strategic situation demonstrates that America's intended single-minded approach to confronting China faces significant obstacles from simultaneous regional commitments.
China's embassy has successfully evacuated more than 470 Chinese nationals from Iran as tensions between the US and Israel intensify. The evacuation is being conducted through designated land routes and border crossings. Chinese authorities are simultaneously urging all remaining citizens in Iran to enhance safety precautions, register with the embassy, and leave the country as soon as possible.
The Republican-controlled US Senate rejected a bipartisan war powers resolution on Wednesday in a 52-47 procedural vote, preventing debate on limiting President Trump's ability to escalate military action against Iran. The Pentagon simultaneously pledged to 'accelerate' its operations in what it described as a war 'just getting started'.
Russian President Vladimir Putin warned on Wednesday that Russia could halt gas supplies to Europe amid energy price spikes triggered by the Iran crisis, linking the decision to the EU's push to ban Russian gas and liquefied natural gas purchases. Oil and gas prices have surged following US and Israeli military action against Iran and Tehran's retaliatory strikes on Gulf Arab neighbors, disrupting shipping through the Strait of Hormuz and forcing facility shutdowns.
JD.com posted a 2.7 billion yuan (US$392 million) loss in Q4, marking its first quarterly loss since early 2022, compared to a 9.9 billion yuan profit a year earlier. Annual profit declined nearly 53% to 19.6 billion yuan. The losses stem from the company's aggressive food delivery expansion launched last year. Despite the quarterly loss, JD.com maintained profitability on a non-GAAP basis.
As the United States grapples with mounting debt, China is doubling down on efforts to clean up its ...
According to the latest Hurun Global Rich List released by Hurun Group, China has surpassed the United States to become home to the world's largest number of billionaires, with 1,110 out of 4,020 global billionaires. China added 287 new billionaires in this edition, driven by stock market gains and artificial intelligence sector growth that generated record billionaire numbers worldwide.
Hong Kong Baptist University is actively considering issuing bonds to finance future development projects, including campus redevelopment and a new Chinese medicine hospital, according to President Alexander Wai Ping-kong. The public institution will proceed cautiously with bond issuance to avoid creating management pressure. The university requires substantial funding for multiple initiatives including the Chinese medicine hospital.
Airfares from Hong Kong to European, South American and select Asian destinations have surged significantly following recent geopolitical tensions. Routes transiting through Middle Eastern aviation hubs experienced the most dramatic increases after US and Israeli joint military strikes against Iran. According to the South China Morning Post, fares to these destinations roughly tripled from Tuesday onwards.
China set the lowest economic growth target since 1991 as the country contends with global trade ten...
Singapore police have arrested three Singaporean citizens suspected of involvement in money laundering and fraud related to transnational scam syndicate Prince Group and its founder Chen Zhi, currently detained in China. The arrests occurred between November 2025 and January 2026. Frozen assets include three properties, a yacht, and vehicles valued at approximately US$390 million. Each offense carries a maximum penalty of 10 years imprisonment, a fine, or both.
China's Ministry of Finance unveiled its 2026 draft budget report, implementing a more proactive fiscal policy to support domestic market, advanced technology, and public welfare. Key central government expenditures include: national defence at 1.91 trillion yuan (up 7%), debt interest payments at 874 billion yuan (up 6.7%), science and technology at 426 billion yuan (up 10%), public security at 258 billion yuan (up 5.9%), and education at 192 billion yuan (up 5%).
Hong Kong's investment promotion agency announced targeted measures to attract precious metals companies to establish headquarters in the city as part of efforts to become a premier global gold trading hub. InvestHK will assist companies with site selection and overseas certification applications to enhance refining operations, according to the agency's head of transport, logistics and industries.
US Treasury Secretary Scott Bessent stated on Wednesday that President Trump's plan to raise broad tariffs from 10% to 15% will likely be implemented this week. Bessent told CNBC that the increase "is likely sometime this week," providing the clearest timeline yet for when the US will execute Trump's tariff pledge. Trump had previously imposed a 10% tariff rate last month.
A biennial survey by the Mental Health Association and Chinese University of Hong Kong reveals that one in three Hong Kong adults experience moderate to severe depression symptoms, nearly triple the 2012 rate. The study of 2,700 respondents found Generation Z heavy screen users most affected. Additionally, 22 percent of respondents use AI chatbots for stress management, which experts warn poses risks.
China has unveiled its 2026 fiscal budget draft and five-year development plan, allocating a 10 percent year-on-year increase to the science sector. The budget priorities include frontier technologies such as future energy, brain-computer interfaces, and satellite internet, overlapping with ambitious projects championed by Elon Musk, including Starlink, electric vehicles, Neuralink, and artificial intelligence.
China's leading semiconductor executives have jointly urged a nationwide initiative to develop a domestic alternative to Dutch equipment giant ASML in response to US sanctions. Co-authored by SMIC's co-founder and leaders from Empyrean and Yangtze Memory, the article argues the current industry is too "small, fragmented and weak," dispersing public resources inefficiently, and calls the sector to "abandon illusions and prepare for struggle."
Alibaba Group has established a dedicated task force led by CEO Eddie Wu Yongming to accelerate foundational AI model development. In a letter to members of its Tongyi AI research lab, Wu stated the task force would "jointly coordinate group-wide resources to accelerate foundational model development." Wu emphasized that technological stagnation equates to falling behind, underscoring the company's strategic commitment to advancing its AI capabilities.
Japan's Space One terminated its Kairos rocket flight on Thursday after lift-off, failing to achieve the country's first entirely commercial satellite launch on its third consecutive attempt. The setback undermines Japan's efforts to establish a domestic launch industry and reduce reliance on foreign rockets amid rising space-security concerns to counter China. The company stated the flight was terminated after determining mission success would be difficult.
Recent research suggests artificial intelligence may be more 'accurate' than human judges in following established legal principles, fueling speculation about AI replacing legal professionals. However, experts argue that while disruption is inevitable, claims of total replacement misunderstand what AI systems actually do and the fundamental purpose of legal systems and courts.
As the United States and China compete over artificial intelligence's future, Africa's rapidly expanding digital landscape is emerging as a new arena for their rivalry. With growing population, expanding internet access, and linguistic diversity, Africa is increasingly viewed as a critical region for AI development. Early infrastructure and platform decisions in Africa will shape the trajectory of emerging technology.
The family of a 36-year-old Florida man has filed a lawsuit against Google in federal court in San Jose, California. The man used Gemini for writing assistance but reportedly spiraled into dangerous behavior over two months of interactions, including planning a mass casualty attack before taking his own life. The suit alleges the chatbot's responses contributed to his deteriorating mental state.
#SEAblings, short for "Southeast Asian siblings," has been increasingly used by young Southeast Asians to express regional solidarity over controversial events. The hashtag recently surged following a dispute over camera rules at a K-pop rock concert in Kuala Lumpur, escalating into a broader online clash. Sociologists debate whether such moments are temporary or could develop into a sustainable movement.
The US and Israel's military operations against Iran have entered their fifth day. The US claims it will achieve complete air superiority, targeting Iran's missile and naval facilities for destruction. Iran's Supreme Leader Khamenei has been killed. The US government is assessing its strategic role and policy direction in the post-conflict period.
According to Reuters, China's air force activity around Taiwan has substantially decreased in recent weeks, with no military aircraft circumnavigating the island in the past week. The sudden reduction in routine military exercises suggests Beijing may be adjusting its pressure tactics on Taiwan ahead of the Trump-Xi meeting to create a more favorable diplomatic atmosphere.
Following the sinking of an Iranian naval vessel by a U.S. torpedo off Sri Lanka's southern coast on the 4th, a second Iranian ship has appeared in Sri Lankan waters. Sri Lanka's cabinet spokesperson Jayatissa confirmed the incident but rejected the vessel's request to dock, offering only limited humanitarian assistance instead.
Burt Levin, former chairman of the American Institute in Taiwan (AIT), stated that the United States has maintained the position that Taiwan's legal status remains undetermined since June 1950. This stance was reaffirmed during the establishment of US-China diplomatic relations in 1979. Levin's recent remarks underscore the consistency of American policy on this issue over several decades.
On March 4, the White House posted a military strike video on Iran styled after Call of Duty highlight videos, opening with a clip from Call of Duty: Modern Warfare III. The video features actual footage of missiles and munitions striking Iranian targets, with clips previously seen in other Trump administration videos, including one posted by U.S. Central Command.
Prosecutors declined to indict a McDonald's manager again in a sexual assault case involving a work-study student, citing insufficient evidence. The case occurred in areas without surveillance camera coverage and lacked direct video evidence. The accused manager denied sexual assault, claiming the relationship was consensual. He admitted to kissing and touching the victim's chest but insisted his actions did not violate her wishes.
A 17-year-old McDonald's employee in Taipei died by suicide after allegedly being sexually abused by her supervisor. The accused manager was not prosecuted last year due to insufficient evidence. After the High Prosecutors' Office found the investigation incomplete and returned the case for further review, prosecutors decided again not to prosecute today.
The US-Israel military campaign against Iran entered its fifth day on December 4th, with Middle East tensions rapidly escalating. US Defense Secretary confirmed American submarines sank an Iranian vessel south of Sri Lanka, thousands of miles from the Persian Gulf. Iran fired ballistic missiles at a Turkish base hosting US troops, which NATO air defense systems intercepted mid-flight. The conflict has now directly affected NATO member Turkey, potentially triggering Article 5 collective defense provisions in worst-case scenarios.
Amid US-Iran tensions, market concerns over potential crude oil supply disruptions in the Strait of Hormuz have driven international oil prices higher. Global stock markets declined accordingly, with South Korean and Thai stock exchanges triggering circuit breaker mechanisms due to significant intraday losses. The situation has heightened concerns about inflation and economic recession, negatively impacting China's export manufacturing sector.
Less than a week after US and Israeli military operations against Iran, global energy supplies have been disrupted, causing oil and natural gas prices to surge. Natural gas prices have reached a three-year high. Europe and Asia face a new wave of energy crisis, with developing and emerging economies hit hardest. Millions of residents in Havana, Cuba's capital, have experienced widespread power outages.
Geopolitical tensions in the Middle East are disrupting natural gas supplies, triggering a new energy crisis across Asia and Europe. Asian liquefied natural gas (LNG) prices have surged to three-year highs, while Japanese electricity futures continue to climb and European natural gas prices spike sharply. This energy crisis poses fresh challenges to Asian and European economies already recovering from trade war impacts, with potential inflationary consequences.
In response to escalating Persian Gulf conflicts affecting global crude oil supplies, China's National Development and Reform Commission has verbally ordered five major refiners—including China National Petroleum, China Sinopec, China National Offshore Oil, China National Chemical, and Zhejiang Petroleum & Chemical—to immediately suspend refined oil exports. Authorities also require refiners to cease signing new export contracts and negotiate cancellation of existing arrangements. However, aviation fuel and bunker oil stored in bonded warehouses, as well as supplies to Hong Kong and Macau, remain exempt.
China set the lowest economic growth target since 1991 as the country contends with global trade ten...
U.S. President Trump claimed today that the United States achieved major success in the initial stages of conflict with Iran. Using a 10-point scale as the benchmark, Trump stated he would rate the U.S. military's performance at 15 points, suggesting his assessment far exceeded expectations. The remarks were reported by CNN and The Times of Israel.
The Taipei District Prosecutors Office indicted 62 individuals and 13 companies in connection with the Taizi Group's money laundering operations totaling approximately NT$10.8 billion. The investigation, which involved eight rounds of searches and questioning, resulted in charges under the Money Laundering Control Act and organized crime statutes. Group founder Chen Zhi and other leaders face maximum statutory penalties, while key member Li Tian faces a concurrent fine of NT$250 million.
On February 5, a 28-year-old woman in Hunan Province, China suffered a sudden heart attack and was rushed to People's Hospital of Hunan Province. Medical staff encountered difficulty fitting a fingertip pulse oximeter due to her gel nails, requiring a manicurist to remove them. The incident has sparked widespread discussion on Chinese social media about potential health risks associated with manicures.