US President Donald Trump’s decision to snub the G20 summit in South Africa this year has handed an opportunity to China, as it seeks to expand its growing influence in the African continent and position itself as an alternative to the dangers of a unilateralist United States.
Washington said it would not attend the two-day summit set to kick off on Saturday over widely discredited claims that the host country, previously ruled by its white minority under an apartheid system until 1994, now mistreats white people.
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South Africa’s President Cyril Ramaphosa hit back at Trump’s claim that hosting the summit in Johannesburg was a “total disgrace”. “Boycott politics doesn’t work,” Ramaphosa said, adding that the US was “giving up the very important role that they should be playing as the biggest economy in the world”.
By Friday morning, Trump appeared to have backtracked on his stance somewhat, when speculation that Washington might send a US official to Johannesburg after all circulated.
Regardless, the spat comes as Chinese President Xi Jinping sends Premier Li Qiang to represent him on the world stage. China’s 72-year-old president has dialled back foreign visits, increasingly delegating his top emissary.
“The US is giving China an opportunity to expand its global influence,” Zhiqun Zhu, professor of political science and international relations at Bucknell University, told Al Jazeera. “With the absence of the US, China and EU countries will be the focus of the summit and other countries will look for leadership [from them].”
But observers say that while Trump’s absence will direct heightened attention to Beijing’s statements and behaviour, it does not spell the end of the US-led order altogether.
Jing Gu, a political economist at the United Kingdom-based Institute of Development Studies, said the US’s failure to attend “does not automatically make China the new leader, but it creates visible space for China to present itself as a more stable, reliable partner in governance”.
“It reinforces the perception that the US is stepping back from multilateralism and the shared management of global problems,” she said. “In that context, China can present itself as a more predictable, stable actor and emphasise continuity, support for open trade and engagement with the Global South.”
Expanding influence in the African continent
This year’s G20 will, for the first time, have an African chair and take place on the African continent. The African Union (AU) will also participate fully as a member.
South Africa, which holds the G20 presidency, is expected to push for consensus and action on priority issues for African countries, including debt relief, economic growth, climate change and transition to clean energy.
Zhu, who also serves as editor-in-chief of the academic journal, China and the World, said South Africa’s themes were a “natural fit” for China, Africa’s largest trading partner.
“China aims to become a leader in green energy, and there’s a lot of room for China and African countries to work on that,” he said.
The African continent, with its mineral wealth, booming population and fast-growing economies, offers huge potential for Chinese firms. Li, China’s premier, travelled to Zambia this week, marking the first visit to the country by a Chinese premier in 28 years. The copper-rich nation has Beijing as its largest official creditor for $5.7bn.
Eager to secure access to Zambia’s commodities and expand its exports from resource-rich East Africa, China signed a $1.4bn deal in September to rehabilitate the Tazara Railway, built in the 1970s and connecting Tanzania and Zambia, to improve rail-sea transportation in the region.
“The Chinese economy and African economy are complementary; they both benefit from trade,” Zhu said. The G20 “is a great platform for China to project its global influence and seek opportunities to work with other countries”, he added.
Africa’s growing demand for energy and China’s dominance in manufacturing make the two a good fit, observers say. This is playing out. A report by energy think tank Ember, for instance, found Africa’s imports of solar panels from China rose a whopping 60 percent in the 12 months to June 2025.
According to Gu at the Institute of Development Studies, China will be looking to tap into this growing synergy with Africa and will deliver a three-fold message at this year’s G20.
“First, it will stress stability and the importance of global rules and regulations,” she said. Second, “it will link the G20 to the Global South and highlight issues like development and green transformation”.
Third, “by offering issue-based leadership on topics such as digital economy, artificial intelligence and governance, it will position itself as a problem-solver rather than a disruptor”, the economist added.
“It can contrast, yet again, its declared commitment to multilateralism and responsible behaviour as a major state versus the dangers of a unilateralist America focusing not on public goods but on benefits to itself only.”
China has been looking to expand its influence in Africa as a counterweight to the US-led world order. In stark contrast to Trump’s decision to end Africa’s duty-free era and slap 15-30 percent tariffs on 22 nations, Xi announced at the APEC summit last month a zero-tariff policy for all African nations with diplomatic ties to Beijing.
On that occasion, Xi emphasised China’s commitment “to joint development and shared prosperity with all countries”, stressing the country’s goal to “support more developing countries in achieving modernisation and opening up new avenues for global development”.
Similarly, Li, China’s premier, marked the United Nations’ 80th anniversary at the General Assembly in September by expressing the need for stronger collective action on climate change and emerging technologies, calling for greater solidarity to “[lift] everyone up, while division drags all down”.
His remarks were in stark contrast to Trump’s, who, in his speech, described climate change as the “greatest con job ever perpetrated” and called renewable sources of energy a “joke” and “pathetic”.
Foot said the spotlight will now be on Beijing as it seeks to strike a similar conciliatory pose – and in doing so, set itself apart from the US – at the G20. “Whether Beijing will have a major impact on the G20 agenda is more difficult to determine,” she said.
Global Finance Presents 2025 Stars of China Winners.
Best Corporate Bank
China Guangfa Bank
Guangdong Province is ground zero for manufacturers of smartphones, electric vehicles, and robots. It is home to tech giants Tencent and BYD. And its capital, Guangzhou, is home base for a digital champion of corporate finance, China Guangfa Bank, this year’s Best Corporate Bank.
With 1.4 trillion yuan in corporate deposits as of January 1 and 789 billion yuan in corporate loans issued last year, Guangfa is not the country’s largest corporate bank, but true to its Guangdong roots, it leads competitors in digital banking solutions. Its Digital Guangfa strategy complements a stream of improvements in online, mobile, and WeChat banking for corporate clients. Guangfa applies fintech to supply chain services through its e-Second platform, integrating portals and corporate online banking, enabling clients to apply for and sign contracts via mobile device.
For cross-border e-commerce companies, the Guangfa Hui payment system allows one-stop fund collection with real-time and pending exchange settlement, currency withdrawal, and automatic foreign exchange declaration for international settlement, supporting Amazon, among other providers. Guangfa’s corporate arm, meanwhile, is stepping up tech-sector support; its outstanding loan balance to science and tech businesses grew 25% in 2024.
Best Transaction Bank
China Guangfa Bank
Tariffs may slow Chinese export growth, but for now, growth continues. Supporting the country’s export juggernaut are transaction innovations led by China Guangfa Bank, Best Transaction Bank in 2025.
Guangfa has developed a system for integrating corporate billing and supply chain finance services through its international trade and investment service, Cross-Border InstantPass. The service is an umbrella for nine sub-systems including Instant Settlement and Customs Duty InstantPass. The subsystems digitize the entire cross-border transaction process, from export revenue collection and exchange to import payment and letter-of-credit operations. Guangfa also facilitates pilot programs for cross-border trade and investment openness, for example by integrating online banking functions for capital account transactions and making cross-border financing more convenient through streamlined cross-border payments in renminbi.
Best Bank For Renminbi Internationalization
China Guangfa Bank
Proof that the renminbi, or yuan, is gaining global traction is visible worldwide, wherever Chinese engineering companies are building infrastructure. A leader in cross-border, cross-currency banking solutions for these firms, and a major force for renminbi acceptance, is China Guangfa Bank, Best Bank for Renminbi Internationalization this year.
Guangfa enhances the role of renminbi through its Cross-Border RMB Express Channel tool for enterprises, which integrates renminbi and foreign currencies in liquidity pools. The bank also offers state-owned companies an onshore-offshore integrated renminbi and foreign currency settlement system, providing unified allocation of currencies for their domestic and overseas subsidiaries. The customizable system cuts account maintenance costs and drives efficiency by allowing a firm to use its domestic funds to finance overseas projects. It also helps facilitate cross-border goods trading, direct investment, and cross-border financing, addressing the demands of enterprises that likewise advocate renminbi internationalization.
Best Consumer Bank
ICBC
China remains home to the world’s most dedicated savers, despite a trimming of savings deposit rates by big banks in 2024 and again last spring. One bank’s focus on those resilient consumers—for whom basic savings pay rates currently below 1%—rewards loyal depositors while scaling up savings through wealth management products. That bank is ICBC, Best Consumer Bank of 2025.
As of January 1, ICBC held 6.4 trillion yuan in demand deposits and 12 trillion yuan in time deposits from its consumer clients. Responding to consumer demand for greater personal asset growth, ICBC has doubled down as a wealth management provider. In April, it launched a rewards program through its iBean digital services suite and opened a platform that broadens digital services to include investment guidance through an AI-driven wealth management assistant. Anti-fraud and consumer protection measures have been enhanced, and the bank posted a 45% decline in customer complaints for the first half of 2025, year-on-year. It recorded a 93% customer satisfaction rate in 2024, up 2% year-on-year.
Best Bank For Financial Advisory Services
ICBC
Financial firms of all sizes advertise comprehensive advisory services. But scale and initiative are needed to cover all the bases. ICBC leverages its size to deliver a comprehensive range of services, winning Global Finance’s first Best Bank for Financial Advisory Services award.
ICBC’s investment banking division applies its research, risk control, and fintech resources to its ESG Advisory Service, which offers management, transaction, and risk consulting. Its private banking arm recently collaborated with ICBC Credit Suisse Asset Management to offer China’s first fund investment advisory scheme for family trusts, complementing a similar scheme for charity trusts.
For small and micro entrepreneurs, the ICBC Matchmaker Platform provides advisory services geared toward full-lifecycle development with planning tools such as business scenario modeling. And corporate banking clients eyeing fundraisers can take advantage of consulting for strategic planning, restructuring plans, and equity private placement. ICBC also offers recommendations for listing sponsors and underwriters to its fundraising clients.
Best Consumer Lending Bank
ICBC
Digital financial advice is nice, but meeting face-to-face across a credit officer’s desk has advantages. ICBC’s retail customers benefit both ways from the bank’s ongoing efforts to enhance their experience both online and offline while boosting consumer support for China’s real economy, making ICBC this year’s Best Consumer Lending Bank.
Between January and June, ICBC’s personal loan portfolio expanded by 213 billion yuan and personal business loans jumped 184 billion yuan. To counteract a weak housing market, the bank beefed up its Housing Ecosystem program, which makes loans for purchases of auctioned property mortgages and makes loans for parking spaces and rental housing. It also promotes marketing for housing developers and real estate agents and in the past year launched a housing resale platform. As of July 1, its residential mortgage portfolio stood at 5.9 trillion yuan.
ICBC has also enhanced its consumer lending programs for electric vehicles and elder care services. Along with expanding its digital offerings, it has broadened personal loan services at branch outlets; today, some 90% of ICBC’s outlets market personal loans, serving 25 million customers.
Best Bank For Sustainable Infrastructure
ICBC
ICBC has adopted a whole-lifecycle approach to sustainable infrastructure finance, offering a toolbox of construction- and development-friendly financing vehicles that helped earn it the title as 2025’s Best Bank for Sustainable Infrastructure.
ICBC provides engineering, construction, and related government contractors what it calls “full-cycle empowerment, full-scenario coverage, and full-market service,” using loans, bonds, M&A, asset restructuring, asset securitization, and REITs to support infrastructure projects at every development stage. Two REIT projects during the past year highlight its success. ICBC issued a 1.06 billion-yuan REIT for wind farms in Inner Mongolia capable of powering up to 150,000 homes while a highway-management REIT worth 5.6 billion yuan is financing Hebei Province’s portion of an expressway serving the tech-focused Xiong’an industrial area.
Innovation In Fintech
ICBC
Fintech’s bells and whistles grab attention, but in the final analysis, income and client growth are what prove an app’s value. Generating value is at the core of ICBC’s effort to create fintech apps that both make money and turn techie heads, earning the bank recognition this year for Innovation in Fintech.
Since introducing customer-banker videoconferencing almost a decade ago, ICBC has set the pace for fintech in China, its innovations underpinned by research with a focus on interactive technologies that appeal to Gen Z clients. ICBC strives to enhance the mobile app experience and build an immersive virtual reality with, for example, virtual digital humans in the form of lifelike 3D avatars with perception, cognition, and facial expressions.
In the financial services area, ICBC credits its “intelligent agent” AI system with logging 42,000 person hours annually, generating 500 million yuan. In the credit domain, a time-saving financial analysis tool has so far reviewed more than 20,000 loans worth a combined 1 trillion yuan.
Best Bank For Belt And Road
ICBC
The world’s largest concentrated solar plant in Dubai, Africa’s tallest building in Cairo, and improvements to South Africa’s Telkom 5G wireless network are a few of the recent projects logged by China’s Belt and Road Initiative with support from ICBC, this year’s Best Bank for Belt and Road.
ICBC has arranged project finance for hundreds of projects in more than 70 countries while serving as a customer partner for cross-border cooperation in areas including export credit, syndicated loans, lease factoring, and advisory services as well as for financing projects, cross-border M&A, aircraft, and ships. Chinese enterprises have benefited from infrastructure contracts and new trade channels facilitated by ICBC. The bank is a financial advisor for major oil, gas, and mineral projects involving resource development, pipeline storage, and product terminals and a resource development advisor to Fortune 500 companies.
Most Innovative Asset Manager
China International Capital Corp.
For asset managers serving Chinese government entities, the quest for return is an exercise in balancing low-risk appetite and statemandated support for innovative investment targets such as technology stocks. The asset management arm of China International Capital Corp. (CICC), 30 years old in 2025, balances these objectives in a competitive market; it chalked up a 13% annual gain in asset management income to 1.3 billion yuan in 2024 and wins this year’s Most Innovative Asset Manager award.
The National Social Security Fund and corporate annuities were among 738 portfolios managed by CICC in 2024, contributing to total assets under management of 552 billion yuan and benefiting some 50 million people. CICC found innovative ways to deliver returns despite a soft economy in 2024 that prompted heightened compliance and risk control requirements for Chinese asset managers. The firm broadened corporate coverage and enhanced digital and platform capabilities to improve quality of customer service while contributing to Beijing’s national goals by supporting growth in technology, green, pension, and digital finance.
Best Bank For Overseas Branch Services
Bank of China
Global footprints vary for international banks. Some cover a few major cities; others, like Bank of China (BOC)—winner of 2025’s Best Bank for Overseas Branch Services award—stretch out with branches even in distant lands.
Beijing’s strategic moves, such as the Belt and Road Initiative for infrastructure construction, the renminbi internationalization effort, and its free trade zone agreements, have spurred BOC’s overseas expansion. Its services for trade partners and Chinese expats are extensive and easy to find; the most recent branch openings, in Port Moresby, Papua New Guinea, and Riyadh, Saudi Arabia, brought the number of countries and regions with BOC physical bank outlets to 64, including 44 Belt and Road countries.
Since becoming the world’s first renminbi clearing bank in 2003, BOC has expanded to provide clearing services in 16 regions of Asia, Europe, Africa, and the Americas. Renminbi clearing banks opened this year in Port Louis, Mauritius, and Vientiane, Laos. Established branches in New York, London, Milan, Seoul, and Tokyo augment BOC’s global footprint.
Best Bank For Green Bonds
Bank of China
Chinese green bond issues passed the half-trillion-dollar mark last year, solidifying the country as a top global bond issuer for renewable energy, electric vehicles, and other environmentally friendly efforts. Driving this success is Bank of China, the most active Chinese-funded institution for domestic and international green bond underwriting for the past five years and 2025’s Best Bank for Green Bonds.
The bond framework gives international investors an avenue to support China’s development. Recent highlights include the world’s first sustainability-linked green and social bonds, issued through the bank’s subsidiary in Frankfurt, Germany, which raised 2.5 billion yuan. BOC’s branch in Dubai issued in September 2024 a $400 million green bond to fund renewable energy and non-carbon transportation projects in the United Arab Emirates. And BOC was lead underwriter on Brazilian pulp producer Suzano’s 1.2 billion yuan green bond, issued in China as a panda bond.
Best Bank For Risk Management
Bank of China
Chinese banks strive to optimize their credit structure while serving the national economy. A recent dip in the real estate market—a key driver of GDP growth—has complicated that effort. Bank of China (BOC) has risen to the challenge by balancing its approach to real estate credit and its support for national economic goals, earning it Best Bank for Risk Management honors.
In step with government policy directing financial institutions to place equal emphasis on home rentals and home ownership, BOC’s corporate unit has tweaked its risk management strategy to expand financing for rental housing development companies, including government-subsidized housing and urban villages. BOC is also a conduit for government debt relief measures. And it has adjusted its credit strategy by, for example, adopting a data tracking system for credit risk monitoring and an early warning mechanism.
Star Of Hong Kong
CMB Wing Lung Bank
Covid-era questions about Hong Kong’s future as a hub of international finance have fallen by the wayside with the tightening of business ties between the mainland and the city. Encouraging tighter oversight are cross-border equities trading schemes, bond exchanges, and Hong Kong banks that also operate in mainland cities including Shenzhen and Guangzhou. Foremost among these multi-city banks is CMB Wing Lung Bank, a subsidiary of the mainland’s China Merchants Bank and Star of Hong Kong.
Capitalizing on Hong Kong’s status as a Chinese semiautonomous region with legacy global business ties, CMB Wing Lung boasts more than 30 branches and business outlets in Hong Kong, Macau, and China and is licensed in each jurisdiction for corporate banking, bond trading, foreign exchange business, and wealth management. This year, the bank was approved as a renminbi foreign exchange market maker for the China Foreign Exchange Trade System Free Trade Zone to execute transactions for institutional clients. Earlier, it launched a family office advisory service for high-net-worth families, sparking double-digit growth in private banking and private wealth management-related assets under management between last December and June.
CMB Wing Lung also operates an app used by 420,000 mainland and Hong Kong customers.
Best Bank For M&A
China Merchants Bank
Roadshows can fall into a rut when bank-organized M&A presentations turn routine. China Merchants Bank has abandoned formulaic roadshows, applying a fresh approach to its stream of high-profile M&A projects that helped win the 2025 Best Bank for M&A award.
CMB’s M&A Buyer-Seller Service System, an information exchange platform for equity and institutional investors eyeing M&A action, is part of this success story. The platform enhanced the bank’s 270-plus roadshows last year with project-targeted advisory services while advising potential investors on transaction design, channel matching, and due diligence.
In the past year, CMB has helped public companies raise more than 100 billion yuan while sponsoring an assortment of deals involving high-profile companies from hypermarket retailer Sun Art to jewelry giant Chow Tai Fook. Against the backdrop of a recent slowdown in M&A volume in China, CMB’s business has grown, finalizing projects in 2024 valued at about 190 billion yuan.
Best Private Bank For Sustainable Investing
China Merchants Bank
Private banking serves a discriminating clientele, many of whom are particularly concerned to build their portfolio around sustainable investments. China Merchants Bank’s private banking division recently stepped up consumer rights protection and established an ESG secretariat, factors that helped distinguish it as this year’s Best Private Bank for Sustainable Investing.
The secretariat, which reports to CMB’s head office, optimizes ESG information disclosure and conducts sustainability knowledge promotion and education. Its annually updated consumer rights protection plan incorporates financial education promotion at the bank’s headquarters and branches, with a stated commitment to “public welfare, effectiveness, innovation, and sustainability.”
CMB reported a 13.6% increase in its private banking customers between 2023 and 2024, to some 169,000.
Best Bank For Business Transformation
Agricultural Bank of China
Beijing’s clarion call for financial institutions to support domestic consumption hit home with the country’s largest rural lender, Agricultural Bank of China, which has responded by launching an assortment of consumerf riendly lending and other programs. Its rapid response required flexibility and significant change, earning it this year’s title as Best Bank for Business Transformation.
Writing in a People’s Bank of China publication, ABC Executive Vice President Lin Li described efforts to support consumers whose expenditures contributed to 44% of China’s economic growth last year. Efforts included targeted financing for home improvements as well as helping consumers swap used for new appliances and vehicles. ABC has also stepped up design work on local consumer lending programs tailored for China’s huge population and diverse rural and urban markets. This year, the bank is expected to better the 561 billion yuan in personal consumption loans it reported in 2024.
ABC is also targeting small and micro enterprises engaged in export as part of a broader lending approach. For the first three months of 2025, the bank reported 131.2 billion yuan in loans to 17,200 such enterprises.
Best Private Bank
Bank of Communications
For some private banks, client investment research is just a box to check on a to-do list. For others, investment research is woven into the fabric of their daily activities. The latter describes the private banking division of Bank of Communications, recognized this year as Best Private Bank.
BOCOM branch teams integrate research support for private banking clients through the entire workflow process: tracking economic and asset market trends, identifying allocation opportunities, and warning of risks. A WeChat channel and the bank’s mobile app broadcast research reports weekly, monthly, and quarterly. The bank also offers personalized investment advice. Clients receive BOCOM’s internal research, bolstered by daily morning and weekly strategy meetings. Biweekly, clients can access the bank’s trademark Single Chart to Understand Investment report on asset allocation.
Last year, research supported the launch of a US dollar wealth product for BOCOM’s private bank clients that earned a healthy 11.95% annual rate.
Most Innovative Private Bank
Huaxia Bank
Private banking has been an eager adopter of digital solutions for portfolio and asset allocation tasks. But private clients get more than digital basics at Huaxia Bank, recognized this year as Most Innovative Private Bank.
Huaxia’s digital tools cover internal asset allocation, asset diagnosis, and product portfolio management, supporting local branch marketing efforts and customer management. The bank has developed asset allocation and investment research report functions that automatically offer clients asset allocation strategies. The bank also offers an asset allocation “simulation competition” platform that simulates positionbuilding, allowing users to build product portfolio and allocation strategies around various asset positions; it also uses simulation to train staff.
Huaxia’s in-house digital arsenal also includes monitoring tools such as post-investment transaction and performance tracking. These complement the bank’s unique index of green and low-carbon companies listed on the Shanghai and Shenzhen exchanges. In 2021, the CSI Huaxia Bank New Economy Wealth Index became the industry’s first to spotlight green and low-carbon activities promoted by the government.
Best Private Bank For Entrepreneurs
Ping An Bank
Chinese entrepreneurs may succeed on their own, but they also learn from successful competitors. Ping An Bank satisfies that personal drive and competitive curiosity by organizing client tours of companies ranging from electronic device maker iFlytek to Shaanxi Auto, disseminating best practices and fostering industry collaboration. These learning events helped earn Ping An the title as Best Private Bank for Entrepreneurs for 2025.
Facility tours are one perk the bank offers entrepreneur clients through its Qi Wang Hui, or Enterprise Vision Association, platform. The service helps them expand their sales channels through a mobile commerce platform, offers image building to enhance media visibility, and provides access to Ping An’s consumer commerce system and nationwide database of highnet-worth individuals. On the financial side, Ping An’s entrepreneurial solutions cover investment, wealth management, corporate governance, and private lifestyle services.
Best Private Bank For Ultra High Net Worth Individuals
China Construction Bank
China’s highest wealth bracket is trending higher. No wonder this year’s Best Private Bank for Ultra High Net Worth Individuals is a mobile institution with offices around the world: China Construction Bank.
Teams of private banking professionals have offices at each CCB Private Banking Center in London, New York, Toronto, Tokyo, Sydney, Singapore, and Hong Kong, complementing similar centers in more than 200 Chinese cities. When overseas, private bank clients in the ultra-high-net-worth bracket—including individuals, families, and executives—can do business in their native tongue with an account manager and get help streamlining communications with local government authorities.
Best Wealth Management Provider
YOUMY Family Office
YOUMY Family Office, a niche firm, serves more than 500 Chinese ultra-high-net-worth individuals and families and is this year’s Best Wealth Management Provider. A pioneer in China’s family office field, in the decade since its launch, YOUMY has invested more than 10 million yuan annually in data and investment research systems. The result has been continuous improvement in the capabilities and resources it offers for family asset management in the legal, tax planning, and asset allocation areas.
YOUMY today manages some 15 billion yuan in client assets while its minority foreign shareholder, Italy’s Azimut, manages about 650 billion yuan. YOUMY also acts as a resource for other firms, providing consulting and training to more than 100 smaller family offices.
Best Bank For Corporate Social Responsibility
DBS Bank (China)
It began years ago as an initiative to help fledgling entrepreneurs in areas such as low-income health care. Today, the DBS Foundation is a far-reaching nonprofit tasked with encouraging entrepreneurs as well as youth education, the environment, and community building across China. Behind it is DBS Bank (China), 2025’s Best Bank for Corporate Social Responsibility.
DBS integrates social enterprise support into its corporate culture by procuring goods and services from target enterprises for employee and client events. Strategic partnerships drive community programs that lift the lives of vulnerable groups. To date, more than 33 million yuan in donations have funded 1,000 socially involved enterprises. The foundation also contributes to online financial education for 140,000 students in rural schools. In March, it helped launch a program of home renovations for low-income families with schoolchildren needing study space. In July, innovating elder care in Shanghai and Singapore was the topic of a cross-border conference backed by the bank’s Impact Beyond Dialogue program.
Most Innovative Bank
China Zheshang Bank
Small and medium-sized enterprises selling products overseas are frequently vexed by foreign exchange volatility. To help SMEs in Zhejiang Province, the provincial branch of the State Administration of Foreign Exchange recently launched an online financial services platform that facilitates low-cost FX hedging and derivatives. When the platform went live, China Zheshang Bank became the country’s first bank to put it to work, helping earn it the title as 2025’s Most Innovative Bank.
CZ Bank also reported the initiative’s first success story when a garment exporter in Shaoxing locked in the yuan-US dollar exchange rate for a deal worth $1.2 million. The derivatives contract was completed at a fraction of the usual cost and in one day, not the usual three. As of July 1, CZ Bank had provided exchange rate hedging to about 3,600 SMEs.
While incorporating the FX services platform into its customer operations, the bank has introduced several custom hedging plans that help SMEs choose the best FX settlement period according to their risk tolerance. It also opened a financial consulting studio in July for exchange rate hedging, reaching 500,000 customers online.
Innovation In Payments
SY Holdings
The fast-fashion business model that’s propelled Asian e-commerce companies to superstar status is not without challenges. So-called shipped-but-unsettled orders that go out before customer payments are received pose a challenge that SY Holdings tackles for clients, earning the Shenzhen-based fintech this year’s Innovation in Payments award.
SY operates a self-developed, AI-driven industrial intelligence platform with risk control, supplier management, supply chain process, inventory, and procurement functions. Since 2013, it has helped arrange some 270 billion yuan in order procurement and financing services for more than 19,000 SMEs. Notably, it has facilitated working capital for e-commerce companies with shipped-but-unsettled orders, including SHEIN and Shopee, by embedding digital financing services into client platforms. As of June, SY reported this payments service had increased clients’ working capital eightfold year-on-year.
Best SME Services Bank
Postal Savings Bank of China
Action speaks louder than words for any bank committed to doing business with SMEs in China’s entrepreneurial climate. From matchmaking marketing events for potential clients to loans for grain farmers, Postal Savings Bank of China (PSBC) has taken an innovative approach to the sector, distinguishing it as 2025’s Best SME Services Bank.
PSBC regularly uses customized marketing maps to dispatch 10,000 financial agents from the bank’s 40,000 outlets to engage SMEs nationwide. Needs are assessed and services tailored. In one recent month, more than 4,000 matchmaking events and 5,000 product introductions involved some 150,000 businesses. Novel product offerings include the U Grain Easy Loan high-credit-limit program for SMEs doing grain storage and processing, attesting to PSBC’s deep roots with China’s farmers and commitment to national food security. The bank also built last year a digital platform for SMEs that streamlines tax planning, payroll, and other functions, serving 74,000 clients as of December 2024. As of January 1, PSBC reported 1.63 trillion yuan in outstanding SME loans, accounting for 18% of all its lending.
Best Asset Manager
China AMC
While some tap the brakes, China is forging ahead with carbon-cutting energy and green investment initiatives. Powering the expansion are institutions like China AMC, which boasts a fast-growing assets under management and the country’s largest client base and is this year’s Best Asset Manager.
Underscoring China AMC’s influence as an active promoter of environmentally friendly investment targets is its expansive clientele, which includes more than 240 million retail and 313,000 institutional investors. The firm in 2018 was the first Chinese financial institution to join Berkshire Hathaway, Tata Steel, and other giants in the Climate Action 100+ initiative as well as the first Chinese asset manager where a CEO-led, firm-level ESG Committee supervises implementation of ESG strategies. China AMC’s offices have been carbon neutral for three years.
Best Foreign Bank Asset Manager
CMB International Asset Management
Financial services from asset management to private equity funds are following investors as they crisscross the border between the mainland and Hong Kong. A leader in keeping abreast of the cross-border pace is CMB International Asset Management, this year’s Best Foreign Bank Asset Manager.
A subsidiary of China Merchants Bank, CMBIAM is registered in Hong Kong and listed as a qualified foreign institutional investor in Beijing, enabling it to provide advisory services to securities and asset management clients on the mainland while based in Hong Kong. Supplying diverse investment strategies in equities and bonds, private equity, funds of funds, and customized investment products, it also offers cross-border investments as well as services in Asia Pacific and global capital markets. The bank’s Hong Kong public funds business started at zero in February 2024 and in 13 months grew to HK$23 billion (about $2.95 billion) in assets.
Most Advancing Trading Technology
CMB Wealth Management
Wealth management providers are a popular equity and bond trading channel for retail investors shifting out of real estate and savings accounts. CMB Wealth Management has made technology, including AI, an integral part of its service in this area, earning it the honor for 2025’s Most Advancing Trading Technology.
CMB Wealth has grown rapidly since opening its doors in 2019, with bond trading more than doubling and transactions climbing fivefold. An example of its innovative approach is its self-developed HARBOR platform, which integrates investment research, trading, settlement, risk management, accounting, disclosure, and regulatory reporting. Enhancing the platform is an AI bond trading bot, which CMB Wealth introduced in 2023 and which proactively monitors bonds for portfolio managers. When external price movements occur, the bot triggers alerts, enabling the manager to react and avoid missing target prices. It also provides automated compliance alerts.
One month before he opened this year’s United Nations climate summit, Brazilian President Luiz Inacio Lula da Silva helped open a new mega-factory at the site of a former Ford car manufacturing plant.
The new plant, in Brazil’s Camacari, Bahia, is one of many being built around the world by China’s BYD, the world’s largest manufacturer of electric cars.
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BYD’s presence is also being felt at the ongoing COP30 climate summit in Brazil’s Belem, where it is a cosponsor alongside GWM, another Chinese electric carmaker.
The sponsorship is just one of many ways that China’s investments in green technology are being felt at the UN’s top climate meeting, where the Chinese official delegation of 789 people is second only to Brazil’s 3,805.
It is a stark contrast to the United States, whose federal government has not sent an official delegation. California’s Governor Gavin Newsom has accused US President Donald Trump of “handing the future to China” and leaving states like California to pick up the slack, in a speech at the summit.
“ China is here. Only one country’s not here: United States of America,” Newsom said. Trump has called concerns over climate change a “hoax” and a “con job”.
But the UN Climate Change Conference COP30 is not the only event where the diverging paths that China and the US are taking on addressing the climate crisis are being felt.
Back in the US, and in neighbouring Canada, trade barriers aimed at punishing Chinese electric vehicles have made them far costlier than what the manufacturers want to sell them for.
These tariffs are a legacy of former US President Joe Biden’s administration, and place North America as an outlier at a time when Chinese EVs otherwise dominate the global market.
How dominant is China in EVs?
Joel Jaeger, a senior research associate with the World Resources Institute, told Al Jazeera that Chinese EVs have “really upended the car market” in recent years.
China has gone “from basically not a major player five years ago” to becoming “the number one exporter of cars globally in terms of the units”, says Jaeger.
According to the International Energy Agency (IEA), China manufactured 12.4 million electric cars in 2024, more than 70 percent of the 17.3 million electric cars manufactured globally last year.
Of these, China exported about 1.25 million cars, representing 40 percent of global exports, while the remaining Chinese-made cars — the vast majority — were sold domestically.
This dominance has been built on the back of “subsidies that China’s put in place to develop its industry, which I think is a very strategic thing that China has done, both for its own economic growth as well as decarbonisation”, Jaeger said.
But on the streets of the US or Canada, Chinese EVs are still relatively rare.
Why are Chinese EVs less affordable in the US and Canada?
According to Jaeger, “prohibitive” tariffs mean that Chinese EVs are almost impossible to buy in the US and Canada.
“In the last year, the US and Canada both put on basically completely prohibitive tariffs on EVs [of] over 100 percent in both places,” he added.
Notably, the steep import taxes on Chinese EVs in the US were introduced under Biden, a Democrat, who championed renewable energy, in contrast to Trump, who has pledged to fight it and “drill, baby, drill” for oil.
A month after the US introduced 100 percent tariffs on Chinese EVs in September 2024, Canada brought in identical tariffs of its own.
It means that a car that a Chinese EV manufacturer might be selling at $30,000 actually costs at least $60,000 in the US or Canada. This makes it hard for even cheaper Chinese models to compete with the higher-end US electric models, which on average retail for approximately $55,000.
These tariffs, along with other US policies, have meant that Chinese manufacturers have yet to set up shop in the US.
In Canada, Addisu Lashitew, an associate professor of business at McMaster University, told Al Jazeera that the steep tariffs conflict with targets set to transition fully to electric cars by 2035, but are also complicated due to Canada’s close trading ties with the US.
“The problem is that one, we are going through a very complex trade talk with the US now,” said Lashitew. “And two, our supply chain has also [been] very much integrated. Many of the American manufacturers are here, and Canadian firms are mainly suppliers.”
But while it is almost impossible to buy a cheap Chinese electric car in the US, Jaeger says this does not mean that North America is completely missing out on importing new Chinese technology.
“The US, for example, imports a lot of batteries from China. It’s actually the second-biggest importer of lithium-ion batteries behind Germany in the world, from China. So, they’re using them in US-made EVs,” he said.
US manufacturers are also making bigger cars, including fully electric pick-up trucks [File: Charles Krupa/AP Photo]
Where can you buy cheap Chinese electric cars?
In contrast with the US and Canada, said Jaeger, many other countries have been more open to China’s EV market.
“You see different reactions from different countries, depending on their relationship with China, but mostly depending upon their domestic auto manufacturing presence,” he said.
Lashitew told Al Jazeera that Chinese exporters, including BYD as well as some smaller firms, are “targeting many emerging and developing countries”.
“Ironically, we’re in a situation where in the transportation sector, the energy transition is happening much faster in the Global South than in North America, at least.”
Chinese electric cars have also continued to sell well in many European countries, says Jaeger, despite those countries also imposing some tariffs, though lower than the US and Canada, “for what they see as unfair competitive practices in China”.
Still, while BYD has built factories in Japan, Hungary and India, as well as Brazil, its biggest presence remains in China, where the company was founded in Shenzhen in 1995. A majority of the 4.27 million electric cars that BYD sold in 2024 were bought by Chinese consumers. BYD also has a manufacturing presence in Lancaster, California, where it builds electric buses and batteries, but not cars.
In China, the local market has grown in part due to incentives from the government, which also saw electric cars as part of its strategy to bring down air pollution in big cities like Beijing and Shanghai.
Customers in China have benefitted from the government’s approach, including through access to new technology. For example, a new battery, which BYD announced in March with the promise of charging for 400km (about 250 miles) of travel in just five minutes, is first being made available for preorder to customers in China only.
How expensive are EVs?
They used to be costlier than cars that run on petrol or diesel. But according to the IEA, the cost of owning an electric car over the vehicle’s entire lifetime is now less than fossil fuel-powered cars, due to the reduced costs of fuel and maintenance.
Buying an electric car is still often more expensive, though.
That is where China’s subsidies to manufacturers help. The IEA has found that prices for electric cars in China are similar to petrol and diesel cars, with half of all electric cars being sold for less than $30,000 and a wide range of lower-priced models available.
By contrast, in the US and Europe, “the range [of available EVs] was skewed towards higher-end models with higher prices”, according to the IEA.
Under Biden, the US tried to boost its domestic electric vehicle industry, while also trying to get the sector to reduce dependence on China.
Biden’s Inflation Reduction Act (IRA) introduced incentives for US manufacturers that did not use any Chinese parts. The IRA also introduced subsidies for consumers who bought EVs, though these have largely been overturned by Trump’s Big Beautiful Bill, which became law in July.
Nevertheless, even with the Biden-era incentives, only one in 10 cars sold in the US in 2024 was electric, while more than half of all new cars sold last year in China were electric.
Electric buses charge in Cape Town, South Africa [File: AP Photo]
Not just cars
While electric cars grab most headlines on sustainable transport, people are also increasingly turning to electric bicycles, scooters, motorcycles, buses and even trains in many parts of the world.
Even in the US, says Jaeger, there has been a significant growth in the number of electric scooters and two-wheelers imported from China.
According to data from the Observatory of Economic Complexity (OEC), the US imported $1.5bn worth of electric two-wheelers from China in the 12 months up to September 2025, an increase of $275m — or more than 20 percent — from the previous year. Experts say that is because scooters are cheaper than cars, and because US tariffs on Chinese electric scooters are also lower than on electric cars.
Meanwhile, in Vietnam, the government has said it will ban petrol-powered motorbikes in the centre of its capital, Hanoi, from July next year, as part of a plan to tackle local air pollution.
According to the IEA, some 40 percent of bus sales are now electric in European countries, including Denmark, Finland, the Netherlands and Norway.
There have also been increases in electric bus sales in Central and South America. In Mexico, for example, “close to 18 percent of all bus sales were electric in 2024, up from just above 1 percent in 2023”, according to the IEA.
Still, the US continues to struggle here, too. Electric bus sales declined in 2024, according to the IEA, after the leading electric bus manufacturer went bankrupt and a second company stopped manufacturing in the US market after suffering sustained financial losses.
Vietnam is planning to phase out petrol motorcycles [File: Thanh Hue/Getty Images]
The Netherlands announced on Wednesday that it is suspending state control of Chinese chipmaker Nexperia after “constructive” talks with Chinese authorities.
The decision marks a de-escalation after several weeks of dispute between the Hague and Beijing over the export of chips that play an essential role in the European automotive sector.
“In light of recent developments, I consider it the right moment to take a constructive step by suspending my order under the Goods Availability Act regarding Nexperia,” Dutch Economy minister Vincent Karremans wrote on X.
The dispute began on 30 September when the Dutch government invoked the Goods Availability Act to take control of Nexperia over fears of technology transfers from the company’s Dutch plant to facilities in China.
Beijing retaliated by restricting exports of the Nexperia’s finished chips from China, triggering shortages in the global automotive industry.
The government said on Wednesday that the resumption of exports now appeared to be assured.
“In the past few days we have had constructive meetings with the Chinese authorities,” Karremans said, adding: “We are positive about the measures already taken by the Chinese authorities to ensure the supply of chips to Europe and the rest of the world.”
In a letter sent to the Dutch Parliament on Wednesday, Karremans wrote that “Chinese authorities currently appear to be granting permission to companies from European and other countries to export Nexperia chips.”
However, he also added a note of caution.
“A duty to provide information remains in effect: the company must inform me about the transfer of production resources and knowledge between its facilities.”
Supply crisis eases off
The impasse seemed to ease at the end of October following a meeting between the Chinese and the US in South Korea at which both sides agreed to a truce in their bilateral trade dispute.
After a meeting between U.S. President Donald Trump and Chinese President Xi Jinping on October 30, China said it would start accepting applications for exports of Nexperia chips from Chinese facilities to ease what was becoming a global shortage.
However, Karremans told the media last week that he had no regrets about his assertive approach to the chipmaker.
EU trade Commissioner Maroš Šefčovič welcomed the Dutch decision on X saying it was “another key step in stabilising our strategic chip supply chains.”
Last Friday, Šefčovič told Euronews the dispute was a warning that the EU needs to diversify its supply of strategic products since they can now be “weaponised” by third countries.
Diplomatic dispute deepens between Tokyo and Beijing over Taiwan remarks by Japanese Prime Minister Sanae Takaichi.
China will again ban all imports of Japanese seafood as a diplomatic dispute between the two countries escalates, Japanese media report.
Japanese public broadcaster NHK and Kyodo News agency said on Wednesday that the seafood ban follows after China earlier this month lifted import restrictions on Japanese marine products, which were imposed by Beijing in 2023 after the release of treated radioactive water from Japan’s crippled Fukushima nuclear plant into the sea.
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Kyodo News, referencing sources with knowledge of the matter, said China has told Japan that the reimposition of the ban was due to the need for further monitoring of the water from Fukushima released into the Pacific Ocean.
But the ban comes amid a deepening crisis in relations between Beijing and Tokyo over remarks by Japanese Prime Minister Sanae Takaichi. The premier told parliament on November 7 that a Chinese attack on Taiwan, which threatened Japan’s survival, was one of the few cases that could trigger a military response from Tokyo.
Takaichi’s comments were met with a wave of criticism by Chinese officials and state media, prompting Japan to warn its citizens in China to take safety precautions and avoid crowded places.
In a post on X following Takaichi’s comments, the Chinese consul general in Osaka, Xue Jian, threatened to “cut off that dirty neck”, apparently referring to the Japanese prime minister. Tokyo said it had summoned the Chinese ambassador over the now-deleted social media post.
Beijing has also advised Chinese citizens to avoid travelling to Japan and demanded that Takaichi retract her remarks, though Tokyo said they were in line with the government’s position.
Seeking to defuse the row, Masaaki Kanai, Japan’s top official in the Ministry of Foreign Affairs for the Asia Pacific region, held talks on Tuesday in Beijing with his Chinese counterpart, Liu Jinsong.
“During the consultations, China once again lodged a strong protest with Japan” over “Takaichi’s erroneous remarks”, Chinese Ministry of Foreign Affairs spokeswoman Mao Ning said.
“Takaichi’s fallacies seriously violate international law and the basic norms governing international relations”, Mao said, adding the Japanese premier’s comments “fundamentally damage the political foundation of China-Japan relations”.
‘Very dissatisfied’
Al Jazeera’s Katrina Yu, reporting from Beijing, said the visit by Kanai to Beijing was seen as an effort by Tokyo to de-escalate tensions and communicate to China that Japan’s stance on independently-ruled Taiwan, which Beijing claims as its own territory, has not changed despite Takaichi’s remarks.
“It seems there were no concrete outcomes, but what we have seen, though, is some footage following the meeting of these two diplomats parting ways, and I think it really speaks for itself. We have very cold body language from both of these diplomats,” Yu said.
“Liu Jinsong had his hands in his pockets, refusing to shake hands with the Japanese senior diplomat,” Yu said, adding that the Chinese official said afterwards that he was “very dissatisfied” with the meeting.
Liu Jinsong, director-general of the Department of Asian Affairs of the Chinese Foreign Ministry, met with Masaaki Kanai, director-general of the Japanese Foreign Ministry’s Asian and Oceanian Affairs Bureau, on Tuesday.
Before the most recent seafood ban, China accounted for more than one-fifth of Japan’s seafood exports, according to official data.
The dispute has also engulfed other areas of China-Japan relations, with China Film News, which is supervised by the state-backed China Film Administration, announcing that the release of two imported Japanese movies would be postponed amid the dispute.
The two movies were originally expected to be released on December 6 and November 22, respectively, according to review site Douban.
In China, 87 percent of people trust AI, compared with just 32 percent in the US, according to an Edelman poll.
Published On 19 Nov 202519 Nov 2025
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China’s public is far more trusting of artificial intelligence than their peers in the United States and other Western countries, a survey has found.
In China, 87 percent of people said they trusted AI, compared with 67 percent in Brazil, 32 percent in the US, 36 percent in the United Kingdom, and 39 percent in Germany, the Edelman poll released on Tuesday showed.
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More than seven in 10 Chinese respondents said they expected AI to play a role in solving a range of societal issues, including climate change, mental illness, poverty and polarisation.
Only one-third of Americans said they expected AI to reduce poverty and polarisation, though half predicted a positive impact on climate-related challenges.
While 54 percent of Chinese said they embraced greater use of AI, just 17 percent of Americans answered the same, according to the survey.
Trust was highest among young people, though still much lower in Western countries.
Eighty-eight percent of Chinese aged 18-34 said they had faith in the technology, compared with 40 percent of Americans in that age group.
“For businesses and policymakers, this divergence presents a double challenge,” Edelman Senior Vice President Gray Grossman said in a report accompanying the survey.
“In high-trust markets, the task is to sustain optimism through responsible deployment and straightforward evidence of benefit. In low-trust markets, the task is to rebuild confidence in the institutions behind the technology.”
The survey results come as the US and China are locked in a battle for tech supremacy, with firms in both countries rolling out increasingly sophisticated AI models.
While the US is widely seen as still having an edge in producing the most powerful AI, Chinese firms such as Alibaba and DeepSeek have made major inroads in recent months with “open” language models that offer customers much lower costs.
Last month, Airbnb CEO Brian Chesky made headlines when he revealed that the short-term rental platform preferred Alibaba’s Qwen over OpenAI’s ChatGPT.
“It’s very good. It’s also fast and cheap,” Chesky told Bloomberg in an interview.
Saudi Aerospace Solutions (SAS) has signed an agreement to purchase 100 electric helicopters from the Chinese company Vertaxi. This reflects Saudi Arabia’s commitment to strengthening its technological partnership with China in the field of future aviation. Saudi Arabian Airlines confirmed its intention to use these small, electric-powered aircraft, acquired through the “Vertaxi” deal, to transport pilgrims between Mecca and Jeddah, as well as visitors to major sporting events in Riyadh and other tourist destinations. The low-altitude economy (LAE), represented by “Vertaxi,” is a strategic and emerging sector in China, combining advanced manufacturing with new business models such as smart cities. SAS’s vision is to establish Saudi Arabia as a regional hub for the LEA by 2030.
Through this deal with China’s Vertaxi and Saudi Aerospace Solutions Group, it continues to pursue its ambitious goals of connecting the world to Saudi Arabia. This includes offering several advantages, such as linking multiple destinations via this advanced Chinese electric aircraft and supporting them with air routes between the major airports where the Saudi group operates. This initiative aligns with Saudi Arabia’s vision of economic diversification and the shift towards smart transportation models that could impact future technological and regional balances. The 8th China International Import Expo witnessed the signing of an agreement between Saudi Aerospace Solutions Group and Vertaxi, a Chinese company specializing in electric vertical takeoff and landing (eVTOL) aircraft. Saudi Aerospace Solutions Group signed a letter of intent to purchase 100 Vertaxi M1 electric cargo VTOL aircraft. The electric aircraft included in the deal are among the first fully electric vertical takeoff and landing (eVTOL) vehicles.
These aircraft are distinguished by their ability to take off and land vertically, eliminating the need for traditional airports. They can travel up to 175 km at speeds of up to 260 km/h, offering significant time savings for individual passengers compared to other options, and can accommodate up to six passengers.
Through this deal with China, Saudi Arabia, officially through the Saudi Solutions Group, aims to enter a new era and achieve leadership in the aviation and air transport sector in the region. The Saudi electric aircraft deal with China will provide unprecedented solutions and new air routes to connect pilgrims to Mecca during the Hajj and Umrah seasons. It will also enable visitors to Saudi Arabia to quickly access sporting and entertainment events and tourist sites, in addition to connecting the Kingdom’s mega-projects within the framework of Saudi Vision 2030 with distinguished air services that meet the future aspirations of Saudis. Furthermore, this deal achieves a highly important objective for Saudi Arabia, which is continuing the implementation of initiatives supporting sustainability and environmental conservation (electric aircraft), which are characterized by their reduced carbon dioxide emissions. This Saudi deal with China will contribute to providing more flights and reducing travel times by up to 90%, including to long-distance tourist destinations. It will also offer effective transportation solutions in areas congested with pilgrims, travelers, and traffic jams. Furthermore, this Saudi-Chinese agreement will contribute to reducing traffic congestion, saving time, expanding the range of premium services for VIP guests visiting Saudi Arabia, and providing a seamless and luxurious travel experience. This will also contribute to boosting tourism and business within the Kingdom.
Saudi Arabia is relying on the air transport electrification deal with China as a practical path to decarbonizing this vital and important sector, which is currently characterized by high emissions and environmental damage. Currently, environmentally friendly and low-carbon-emission electric aircraft represent a very small percentage of the global aviation fleet. Saudi Solutions Company will collaborate with the Chinese company Vertaxi to develop local applications for these aircraft. Electric vertical takeoff and landing (eVTOL) cargo services in Saudi Arabia, including low-level logistics, marine power transport, and security inspection.
This Saudi deal with China comes at a time when China is accelerating its plans to strengthen its global digital presence. Tencent (the Chinese giant) is also simultaneously taking new steps in the Saudi market through cloud investments, in line with the goals of the Kingdom’s Vision 2030 for digital transformation. Dawson Tong, senior executive vice president of Tencent and CEO of its Cloud and Smart Industries Group, confirmed that “the new data center in the Saudi capital, Riyadh, represents a significant growth opportunity,” explaining that the Chinese partnership with Saudi Arabia is nearing completion of its final launch stages. He officially confirmed that “we already serve many Chinese companies that are increasing their investments in Saudi Arabia, and a number of our partners have lined up to benefit from the new data center in Riyadh, which allows us to expand not only within the Kingdom but throughout the entire region.”
In this context, Saudi and Chinese companies signed 34 investment agreements on the sidelines of Chinese President Xi Jinping’s visit to Saudi Arabia in December 2022. These Saudi-Chinese agreements covered various sectors, including green energy and green hydrogen, solar photovoltaic energy, information technology, transportation and logistics, medical industries, housing, and construction, among others. Saudi Arabia’s Vision 2030 offers diverse investment opportunities in partnership with China across multiple sectors as part of the Saudi government’s efforts to diversify the economy away from crude oil, which is currently the Kingdom’s primary source of income.
In the future industries sector, the Saudi Business Industries Company (Sahl Al-Aamal) signed a cooperation agreement with two Chinese companies: China New Energy and Eurasia. The aim is to establish a specialized electric vehicle manufacturing plant in Saudi Arabia, with investments totaling one billion Saudi riyals. This new Saudi-Chinese project also aims to support Saudi Arabia’s drive towards sustainable transportation, increase local content, and create quality job opportunities through partnership with Chinese companies.
These Saudi steps towards partnership and cooperation with China come within the framework of the “Vision 100 strategy” to expand its international partnerships and enhance its ability to transfer advanced technologies and knowledge to the Saudi market, thus contributing to driving economic development and achieving sustainability.
From the preceding analysis, we conclude that the Saudi-Chinese partnership, through the helicopter deal with the Chinese company Vertaxi and others, promotes environmentally friendly industrial innovation. With the joint Saudi-Chinese effort to strengthen partnership in artificial intelligence and petrochemicals to develop sustainable and environmentally friendly technologies, Saudi Arabia has affirmed its readiness to welcome Chinese investments through the development of industrial cities, aiming to increase the number of its factories to more than 26,000 by 2030 through cooperation with China.
The UN Security Council has adopted the US’s 20-point Gaza ceasefire plan, approving an international stabilisation force and a ‘board of peace’ with extensive powers to oversee Gaza’s governance and reconstruction.
Chinese state media says distributors made ‘prudent’ decision to postpone releases due to audience sentiment.
Published On 18 Nov 202518 Nov 2025
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Chinese film distributors have suspended the release of two Japanese anime films amid an escalating diplomatic row over Taiwan.
Crayon Shin-chan the Movie: Super Hot! The Spicy Kasukabe Dancers and Cells at Work! will not be screened in mainland China as originally scheduled, Chinese state-run broadcaster CCTV said on Tuesday.
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The move comes as relations between Tokyo and Beijing are at their lowest ebb in years following Japanese Prime Minister Sanae Takaichi’s suggestion that Tokyo could intervene militarily if China attempted to take control of Taiwan.
CCTV said distributors made the “prudent” decision to postpone the releases in view of the overall market performance of Japanese films and “Chinese audience sentiment”.
Film distributors reported that Takaichi’s “provocative remarks” would inevitably affect Chinese audience perceptions of Japanese cinema, CCTV said, adding that the companies would follow “market principles and respect audience preferences” by delaying the releases.
Naoise McDonagh, an expert in economic coercion at Edith Cowan University in Western Australia, said the postponements followed a well-worn playbook in Chinese statecraft.
“China is usually careful to target trade that is non-essential for China, but which will impact Japanese firms, creating both financial costs and symbolic pressure,” McDonagh told Al Jazeera.
Such incidents allow Beijing to signal that parties who act against its interests will face costs, “providing China some degree of influence on other governmental decision-making processes that impact China’s red line,” McDonagh said.
The delayed film releases follow a series of retaliatory moves by Beijing in response to Takaichi’s comments, including an advisory warning its citizens against travel to Japan and the deployment of warships to waters near the disputed Senkaku Islands.
Japan on Monday issued its own travel advisory for China, warning its citizens to respect local customs, avoid crowded places and exercise caution in their interactions with Chinese people.
Japanese Chief Cabinet Secretary Minoru Kihara on Tuesday told a regular media briefing that its advisories were based on “the social situations” of various countries and its latest statement reflected recent reports on the Tokyo-Beijing tensions.
Kihara also said that Tokyo had an “open stance” on dialogue with China after Beijing said that Chinese Premier Li Qiang had no plans to meet Takaichi on the sidelines of this weekend’s G20 summit in South Africa.
Kihara made the comments as Japan’s top official for Asia Pacific affairs, Masaaki Kanai, met his Chinese counterpart, Liu Jinsong, in Beijing on Tuesday in a bid to calm tensions between the sides.
China considers self-ruled Taiwan part of its territory and has pledged to “reunify” the island with the Chinese mainland, by force if necessary.
Japan views China’s stance on Taiwan with concern due to the island’s close proximity to Japanese territory and its location in waters that carry large volumes of trade.
China insists that countries, in order to have diplomatic ties with Beijing, must not officially recognise Taiwan. Most countries follow China’s demand, but many maintain economic and semiofficial diplomatic ties with Taipei.
Syria’s Asaad al-Shaibani meets with Chinese counterpart Wang Yi as Damascus pushes to bolster international ties.
Syrian Foreign Minister Asaad al-Shaibani has pledged to deepen collaboration on “counterterrorism” with China on his first visit to Beijing since the toppling of former President Bashar al-Assad last year.
Al-Shaibani and Chinese counterpart Wang Yi agreed on Monday that they would work together on combating “terrorism” and on security matters, with the top Syrian diplomat promising that Damascus would not allow its territory to be used for any actions against Chinese interests, according to Syrian state news agency SANA.
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China, a former backer of al-Assad, said that it hoped Syria would take “effective measures” to fulfil its commitment, “thereby removing security obstacles to the stable development of China-Syria relations”, according to a Chinese Ministry of Foreign Affairs statement.
The fate of the Uighur fighters who had gone to Syria after war erupted in 2011 to fight al-Assad’s forces, with many joining the Uighur-dominated Turkistan Islamic Party (TIP) based in Idlib province, was expected to be on al-Shaibani’s agenda in Beijing.
A source from the Ministry of Foreign Affairs and Expatriates in Damascus denied a report by news agency AFP that cited unidentified sources as saying the Syrian government planned to hand over 400 fighters who had fled persecution in China “in batches”.
The “report regarding the Syrian government’s intention to hand over fighters to China is without foundation”, said the source in a brief statement to SANA.
During the meeting in Beijing, al-Shaibani also gave his country’s support for the one China principle, establishing formal diplomatic ties with the Chinese government, rather than with Taiwan, as the sole legal representative of the territory.
Wang, for his part, stated that China viewed the Golan Heights as Syrian territory. Israel occupied a portion of the territory in 1967 and subsequently annexed it in violation of international law.
Since al-Assad’s fall in December 2024, Israel has been expanding its occupation into southern Syria, including a United Nations-monitored buffer zone established by a 1974 ceasefire agreement.
On Monday, Damascus and Beijing expressed interest in expanding collaboration on economic development, Syria’s reconstruction, and raising living standards, highlighting the role of the China-Arab Cooperation Forum as a basis for bilateral collaboration, said SANA.
Al-Shaibani’s visit to China comes as Damascus pushes to rebuild its diplomatic ties around the world, with some stunning successes, including securing sanction relief from the West and major Gulf investments, giving the country a much-needed economic lifeline.
Earlier this month, President Ahmed al-Sharaa became the first-ever Syrian leader to visit the White House since the country’s independence in 1946. Syria also joined a US-led international coalition to fight ISIL (ISIS).
In October, al-Sharaa told Russia’s President Vladimir Putin during a visit to Moscow that he sought to “restore and redefine ties” between the two countries.
However, there was no mention after that meeting of whether Moscow would hand over al-Assad, who fled to Russia after his government fell due to an offensive by armed opposition groups led by al-Sharaa.
Since the collapse of the al-Assad government, Russia has retained a presence at its air and naval bases on the Syrian coast. Moscow was one of al-Assad’s top backers and provided air support for government forces during the war.
But al-Shraa’s government appears to be prepared to forge relations with allies of the former regime, as highlighted by al-Shaibani’s talks in Beijing on Monday.
As part of the second international forum “Russia-Africa Expo-2025,” a roundtable discussion titled “The Potential of Africa’s Mining Industry: New Opportunities for Cooperation with Russia and China” was held at the conference hall of the Financial and Business Association of Euro-Asian Cooperation (FBAEAC). The event served as an important platform for strengthening the trilateral Russia-China-Africa partnership in industrial and technological development.
The roundtable was organized by the FBA EAC, with co-organizers including the Russian Chamber of Commerce and Industry’s Council for Financial, Industrial, and Investment Policy, the Peace Foundation, the State Duma Committee on International Affairs, the Russian-African Club of Lomonosov Moscow State University, Patrice Lumumba Peoples’ Friendship University of Russia (RUDN University), and the company “Kapital-Info.”
The event brought together over 70 participants—diplomats, as well as representatives from business, academia, and international organizations. Among them were delegations from more than 15 African countries, as well as from Russia, China, and Iran.
The Chinese delegation played a significant role in the event. Participants included Sun Yongjun, First Secretary of the Embassy of the People’s Republic of China, and Liu Yan, Second Secretary, along with representatives from the “Chongqing Pump Plant” (joining online): Su Ao, Ji Xiaodong, Yang Jiaquan, Yang Yiguang, and Wang Renjie. The participation of the Chinese side confirmed the practical focus of the trilateral cooperation and the readiness for joint implementation of projects in the mining industry.
The African side was represented by a wide range of participants: Jean Rick Biyaya Kadievu (Minister Plenipotentiary of the Embassy of the Democratic Republic of the Congo in Russia), Sid’Ahmed Cheikh Ould Aichetou (Ambassador Extraordinary and Plenipotentiary of the Islamic Republic of Mauritania); Eric Rubayita (Counsellor of the Embassy of Rwanda); Diarra Hadja Niamé Mariam Fofana (President of the Program of Consultations and Actions for Women Leaders of Mali); Gerry Mane (Chairman of the National Regulatory Authority for Communications and IT, Guinea-Bissau); Pierre Bangourou (Africa International Trade Connection, Côte d’Ivoire); Yumssi Tichuè (Général Import Export SARL, Cameroon); Amadou Demba Sy (Demba Mining & Frères, Cameroon); Domou Nouble Bruno Alkis (GIES, Cameroon).
The presentations by the African speakers emphasized the continent’s readiness to attract investments, adopt new technologies, and build sustainable production chains. Particular attention was paid to logistics, personnel training, and environmental issues.
The roundtable was also attended by a representative of Iran—Mehdi Rezazadeh, founder and general director of ZedPay Financial System & Services P.J.S.C. His participation further underscored the cross-regional nature of the discussion and the interest in expanding financial and technological cooperation within the context of industry projects.
Li Shaobin, President of the FBA EAC, addressed the participants with a welcome speech, noting that the development of cooperation with Africa in the mining industry opens new horizons for the entire Eurasian business space.
Ivan Borisovich Arkhipov, Deputy Chairman of the Russian-Chinese Friendship Society, also delivered a welcoming address, emphasizing the importance of strengthening humanitarian and economic ties.
Sergey Korotkov, Advisor to the President of the FBA EAC, presented a message from Vitaly Vovk, Deputy Director of the Industrial Policy Department of the Eurasian Economic Commission (EAEC). In his address, Vovk noted that the constructive discussion provides a new impetus for the development of sectoral cooperation and expressed the EAEC’s readiness to assist in developing specific mechanisms for collaboration.
A presentation by Roman Isakov, a recognized expert in the mining industry, attracted particular attention from the roundtable participants. Roman Isaevich delivered a report on “Technologies and Standards of Russian Mining Companies.”
Anatoly Tkachuk, Board Member of the Russian Union of Industrialists and Entrepreneurs (RSPP) and Head of the Center for International Projects and Programs at the International Congress of Industrialists and Entrepreneurs (ICIE), spoke about the RSPP and ICIE mechanisms for developing joint projects in the mining sector.
Furthermore, the Russian side was represented by Daria Michurina (RSPP), Yury Malakhov (Association of Machinery Manufacturers of Kuzbass), Alexander Kotlyarsky (PROMTEK LLC, First Vice President of FBA EAC), Anton Vasilyev (SPARTA LLC, Member of FBA EAC), Alexandra Matveeva (IBEC), Viktor Lazutin (RF CCI), and Igor Khmelkov (NOBIS Company), among others.
The roundtable was moderated by Louis Gouend, founder and president of the African Business Club, chairman of the organizing committee for “Russia-Africa Expo-2025,” and president of the Cameroonian Diaspora in Russia, together with Anna Geroldovna Bezdudnaya, doctor of economics, professor, head of the Department of Management and Innovations at SPbSUE, executive director of the R&D Center for Arctic Environmental-Economic Research, and editor-in-chief of the “FBA EAC Herald” journal.
During the discussion, participants examined a wide range of issues: the formation of joint working groups and industrial clusters, the creation of joint ventures, specialist training, financial support mechanisms, the implementation of environmental standards, and the expansion of logistics chains.
Following the event, participants highlighted the need to coordinate efforts among business communities, research centers, and government structures to implement specific investment and educational projects in the mining industry.
Key conclusions and recommendations developed during the discussion included:
(i) The need to promptly establish expert working groups to prepare pilot project initiatives.
(ii) Intensifying the exchange of technologies and equipment with the direct involvement of industrial manufacturers and engineering companies.
(iii) Developing joint educational programs and academic exchanges for training qualified personnel.
(iv) Strengthening institutional project support through guarantee mechanisms and financial instruments.
(v) Implementing unified environmental standards and sustainable development practices.
Within the framework of the changing global economic architecture, Russian enterprises are highly prioritizing investments in Africa, demonstrating readiness to invest, particularly in energy, industrial technology, and infrastructure, and compete with global players.
Undoubtedly, Africa is fast becoming one of the most significant centers of power, attracting external players. One lingering question is how promptly the recommended measures designed would address historical investment gaps and ensure that agreements reached at the ‘Russia-Africa Expo-2025’ would lead to tangible outcomes.
Relations between Tokyo and Beijing have plummeted over Japanese leader’s recent remarks on Taiwan.
Published On 17 Nov 202517 Nov 2025
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Japanese shares linked to the tourism industry have nosedived following China’s warning to its citizens against travelling to Japan.
Relations between Tokyo and Beijing have plummeted since Japanese Prime Minister Sanae Takaichi suggested earlier this month that Japan’s military could intervene to stop China from taking control of Taiwan.
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In a sharp escalation of the dispute on Friday, China’s Ministry of Foreign Affairs advised citizens to avoid travel to the East Asian country, claiming that Takaichi’s comments had increased risks to their “personal safety and lives”.
The issue continued to reverberate as Japan’s stock market reopened on Monday after the weekend break, with shares of airlines and retail outlets taking sharp falls.
Department store group Isetan Mitsukoshi fell more than 11 percent in afternoon trading, while its rival Takashimaya tumbled about 5 percent.
Japan Airlines fell about 4 percent, while Uniqlo owner Fast Retailing dipped about 5 percent. Cosmetics company Shiseido plunged about 9.5 percent.
China is Japan’s biggest source of foreign tourists, accounting for almost one-quarter of the 31.65 million arrivals in the first nine months of this year, according to the Japan National Tourism Organization.
Ryota Abe, an economist at Sumitomo Mitsui Banking Corporation, said Japan’s gross domestic product (GDP) could shrink by about 0.5 percent in the event of a total collapse in Chinese arrivals and by about 0.1-0.2 percent if arrivals decreased by about one-third.
“Even if the number of visitors decreases 30 percent because of the heightened tensions, the negative impact will be around 0.1-0.2 percent,” Abe told Al Jazeera.
Japan’s economy shrank by 0.4 percent in the three months to September, official data released on Monday showed, the first contraction in six quarters.
Japan’s Chief Cabinet Secretary Yoshihide Suga told a regular news briefing on Monday that Beijing’s travel warning was inconsistent with mutually beneficial ties and that Tokyo had requested “appropriate steps” from the Chinese side.
Japan’s top official for Asia Pacific affairs, Masaaki Kanai, departed for China on Monday for talks aimed at lowering tensions between the sides, Japanese media reported.
Masaaki Kanai will meet his Chinese counterpart, Liu Jinsong, in Beijing, where he is expected to clarify that Tokyo has made no change to its security policy despite Takaichi’s comments on Taiwan, the reports said.
Japan has long viewed China’s threats to take control of Taiwan with concern due to the self-ruled island’s close proximity to Japanese territory and its location in waters that carry large volumes of trade.
China considers Taiwan part of its territory and has pledged to “reunify” the island with the Chinese mainland, by force if necessary.
Taiwan is not officially recognised by most countries but has many characteristics of a de facto independent state, including its own military and passport, and a democratically elected president and legislature.
As the world moves into the final weeks of 2025, the global landscape looks markedly different from that of 2024. Over the past year, the world has witnessed a greater number of conflicts than at any time since the turbulence in the Middle East in the early 2000s. The Israel–Iran confrontation, the Thailand–Cambodia clashes, and most recently the U.S.–Venezuela conflict—together with earlier crises such as the Russia–Ukraine war that began in 2022 and Myanmar’s protracted internal turmoil—illustrate how sharply the global strategic chessboard is being reshaped.
These conflicts form a chain of consecutive flashpoints, each diverting global attention away from Taiwan—a uniquely sensitive entity for China.
China’s Moves Behind the Scenes
Following Donald Trump’s victory in the 2024 U.S. presidential election, Chinese President Xi Jinping proclaimed on December 31, 2024, “No one can halt China’s drive to reunify with Taiwan.” Far from being a one-off remark, this declaration reflects a long-standing stance repeatedly voiced by Xi. He had frequently told President Joe Biden that Taiwan remains a “loaded gun” positioned by the United States at China’s doorstep—mirroring the Cold War dynamic when the Soviet Union stationed missiles in Cuba during the Bay of Pigs crisis. For Beijing, the absorption of Taiwan is therefore seen as indispensable to securing China’s national defense interests.
Across global media, China has been detected amassing large quantities of weaponry and military personnel in Fujian Province, only about 130 kilometers from Taiwan at its nearest point. Well before the Russia–Ukraine war broke out in 2022, Beijing had already been discreetly improving infrastructure in Fujian and stockpiling cutting-edge weapons in preparation for future contingencies.
Any state planning a major military operation must invest years into upgrading logistics networks, fortifications, and weapons production. Since 2022—while the world has been preoccupied with overlapping conflicts—China has had ample time to build the capacity needed for a move on Taiwan.
With multiple crises flaring at once, the United States cannot realistically stretch its resources to fully assist all allies. This dynamic underscores the possibility that the succession of global conflicts since 2022 has ultimately helped divert attention and dilute Western, especially American, bandwidth—conveniently easing China’s path toward its long-standing objective regarding Taiwan.
What has the US done?
Despite a clear weakening since the beginning of the 21st century, the United States still holds a ‘relatively’ firm position in leading the world order. Many US officials across two presidential administrations have shared the view regarding the possibility of China annexing Taiwan by force in 2027. President Joe Biden, a member of the Democratic Party who was initially an advocate for minimizing disagreements with China, has also exerted maximum pressure on Beijing throughout his term, surprising and confusing many experts.
In 2024, the establishment of the US-Japan-Philippines trilateral link signals the utmost concern from policymakers regarding China’s activities. Strategically, US partners and allies will therefore form a continuous arc-shaped formation to deter China’s negative activities. This support will generate significant regional influence and form the US ecosystem in the Indo-Pacific. In the event of a conflict in the Taiwan Strait, US partners and allies will assist Washington in pressuring Beijing, forcing the country to reconsider the possibility of escalating the conflict with Taiwan.
After Trump’s election, he strengthened cooperation with Taiwan. When he imposed tariffs on Taiwan, along with other countries, it was not merely a simple economic move but also demonstrated his desire for the world’s attention on this entity. Notably, the increase in TSMC’s investment in the US to $165 billion in March 2025, compared to $65 billion, suggests the Trump administration’s subtle backing of Taiwan. When a crucial company from an investing nation is attacked, resources and investment activities will be delayed, leading to economic damage, in this case, to the US. Although the role of Taiwan was not directly integrated, the Trump administration made a very sharp move.
Furthermore, the bombing of Iranian nuclear facilities in Israel’s Operation Rising Lion in June 2025 serves as a signal to China regarding the possibility of military conflict escalation with US presence should Beijing use force against Taipei. The renaming of the department back to the ‘Department of War’ further reinforces the possibility that the US could proactively attack any nation that confronts Washington’s interests.
Will a conflict in the Taiwan Strait occur?
Many experts and scholars have discussed whether China will invade Taiwan, as asserted by the country’s leaders. When a conflict occurs in a region/area, the global order will easily witness numerous impacts.
For China, in the event that Beijing captures the island, the country will incur sanctions from the US and its allies and partners. Furthermore, the possibility of intervention from countries within the US’s ‘hub-and-spoke’ model in the Taiwan situation is entirely feasible.
Japan is the country that made the strongest declaration when the new Prime Minister, Sanae Takaichi, stated in a National Assembly meeting that if Taiwan is attacked, Japan will be directly affected and it concerns Tokyo’s ‘survival.’ Japan has also progressively amended and interpreted its constitution to legitimize the action of deploying troops overseas to assist its partners. The fact that an individual who has just taken office as Prime Minister of Japan has made such tough statements regarding Taiwan indicates that a conflict in the Taiwan Strait is entirely possible, lending more credence to the 2027 forecast.
It is clear that Taiwan, despite being an island, has a significant impact on the US-China competition. In the context of ongoing global conflicts, Taiwan is viewed as the final destination for conflicts in recent years. The US and its partners and allies may increase their presence on this island in various forms to ensure its ‘safety.’
Nov. 15 (UPI) — Japanese Prime Minister Sanae Takaichi’s recent comments about Taiwan have prompted the Chinese government on Friday to advise its citizens against traveling to Japan.
While the advisory does not prohibit China’s citizens from going to Japan, the warning is the most serious rebuke of the Japanese prime minister’s comments so far, according to CNN.
Hong Kong’s Security Bureau on Saturday issued a similar notice to its residents.
Seven Chinese airlines also told passengers who are scheduled to fly to Japan that they will refund ticket prices or allow ticketholders to change their flight routes through the end of the year.
The travel warnings came after Takaichi last week told lawmakers Japan could use its military to intervene in any conflict that might occur in the Taiwan Strait that separates Taiwan from mainland China.
She said any military action against Taiwan by China would create a self-defense situation that could trigger a military response from Japan.
Chinese officials have demanded the prime minister retract her comments, including one official who referred to her as an “evil witch” and another who mentioned cutting off a “dirty neck” that stuck itself into Chinese matters, NBC News reported.
Takaichi so far has refused to retract her comments, though, according to China Daily.
China has laid claim to Taiwan and has hinted at using military force, if necessary, to assert its territorial claim to the self-ruling island nation that became the refuge of Chinese nationalists after communist forces took control of the mainland in 1949.
The prime minister’s comments also drew a rebuke from former Prime Minister Shigeru Ishiba.
Ishiba, during a radio interview on Thursday, said Takaichi’s comments were “very close to claiming that a Taiwan contingency is a Japan contingency.”
Other national leaders had avoided saying how the Japanese government might respond to matters in Taiwan under certain situations, he added.
President Trump has publicly split with one of his most stalwart MAGA supporters, calling Rep. Marjorie Taylor Greene “wacky” and saying he would endorse a challenger against her in next year’s midterms “if the right person runs.”
His attack on the Georgia Republican — who has been a leading champion of his “Make America Great Again” movement, sporting the signature red cap at President Biden’s 2024 State of the Union address and acting as a go-between for Trump and other Capitol Hill Republicans — appeared to be a resolute break in a dispute simmering for months as Greene has criticized some of the president’s policies and actions.
The three-term U.S. House member has increasingly dissented from Republican leaders, attacking them during the just-ended federal government shutdown and saying they need a plan to help people who are losing subsidies to afford health insurance policies.
Accusing Greene — one of the most right-leaning members of Congress — of going “Far Left,” Trump wrote that all he had witnessed from Greene in recent months is “COMPLAIN, COMPLAIN, COMPLAIN!” adding, of Greene’s purported irritation that he doesn’t return her phone calls, “I can’t take a ranting Lunatic’s call every day.”
In a response on X, Greene wrote Friday that Trump had “attacked me and lied about me.” She added a screenshot of a text she said she had sent the president earlier in the day about releasing the Jeffrey Epstein files, which she said “is what sent him over the edge.”
Greene called it “astonishing really how hard he’s fighting to stop the Epstein files from coming out that he actually goes to this level,” referencing next week’s U.S. House vote over releasing the complete files related to the late convicted sex offender.
The Epstein saga has placed increasing pressure on the president. Epstein emails released this week named Trump several times and indicated that he knew about Epstein’s abuse of underage girls, a claim the president denies.
Greene wrote that she had supported Trump “with too much of my precious time, too much of my own money, and fought harder for him even when almost all other Republicans turned their back and denounced him,” adding, “I don’t worship or serve Donald Trump.”
Trump’s post suggested a firm break with Greene after fissures that widened following this month’s off-cycle elections, in which voters in the New Jersey and Virginia gubernatorial races and elsewhere flocked to Democrats in large part over concerns about the cost of living.
Greene told NBC News this month that “watching the foreign leaders come to the White House through a revolving door is not helping Americans,” saying that Trump needs to focus on high prices at home rather than his recent emphasis on foreign affairs. Trump responded by saying that Greene had “lost her way.”
Asked about Greene’s comments earlier Friday as he flew from Washington to Florida, the president reiterated that he felt “something happened to her over the last month or two,” saying that, if he hadn’t gone to China to meet leader Xi Jinping, there would have been negative ramifications for jobs in Georgia and elsewhere because China would have kept its curbs on magnet exports.
Claiming that people have been calling him wanting to challenge Greene in the primary next year, Trump added, “She’s lost a wonderful conservative reputation.”
Greene’s discontent dates back to at least May, when she announced she wouldn’t run for the Senate against Democratic incumbent Jon Ossoff, while attacking GOP donors and consultants who said they feared she couldn’t win. In June, she publicly sided with Tucker Carlson after Trump called the commentator “kooky” in a schism that emerged between MAGA and national security hardliners over possible U.S. efforts at regime change in Iran.
That only intensified in July, when Greene said she wouldn’t run for governor. Then, she attacked a political “good ole boy” system, alleging it was endangering Republican control of the state.
In recent weeks, Greene has embarked on a wide-ranging media campaign, doing interviews and appearances on mainstream programs aimed at people who aren’t hardcore Trump supporters. Asked on comedian Tim Dillon’s podcast if she wanted to run for president in 2028, Greene said in October, “I hate politics so much” and just wanted “to fix problems” — but didn’t give a definitive answer.
That continued with an appearance on Bill Maher’s HBO show, “Real Time,” followed days later by a Nov. 4 appearance on ABC’s “The View.” Some observers began pronouncing Greene as reasonable as she trashed GOP House Speaker Mike Johnson of Louisiana for not calling Republicans back to Washington to end the shutdown and coming up with a healthcare plan.
“I feel like I’m sitting next to a completely different Marjorie Taylor Greene,” said “The View” co-host Sunny Hostin.
“Maybe you should become a Democrat, Marjorie,” said co-host Joy Behar.
“I’m not a Democrat,” Greene replied. “I think both parties have failed.”
Kinnard writes for the Associated Press. AP writer Jeff Amy in Atlanta contributed to this report.
The Labubu dolls, a global sensation this year, may be adapted into a feature film as reported by the Hollywood Reporter. Sony Pictures has finalized a deal to develop this movie, currently in the early stages of production, with no decision yet on whether it will be live action or animated.
The popularity of Labubus, created by China’s Pop Mart, has surged, with demand highlighted by celebrity endorsements from figures like Rihanna and Lisa of Blackpink. Consumers are eager to purchase the dolls, packaged in “blind boxes” that conceal the specific model until opened. Sony, known for producing the “Jumanji” series and the animated Netflix series “KPop Demon Hunters,” has not commented on this new project.
China’s military sharply escalated rhetoric on Friday, warning Japan it would suffer a “crushing defeat” if it attempted to intervene in Taiwan. The statement follows Japanese Prime Minister Sanae Takaichi’s remarks that a Chinese attack on Taiwan could create a “survival-threatening situation” prompting a military response from Tokyo. Beijing condemned her comments as dangerous and irresponsible, with state media linking the remarks to Japan’s historical militarism and right-wing ambitions.
Why It Matters Taiwan lies just over 110 km from Japanese territory and oversees key maritime trade routes critical to Japan. Beijing’s warning highlights the deep sensitivities surrounding Taiwan and underscores the potential for regional conflict if Tokyo or other powers act militarily. The escalation also comes amid ongoing anti-China sentiment in Japan and rising tensions with Taiwan independence advocates, signaling a volatile mix of historical grievances, territorial concerns, and strategic rivalry.
China: Reinforcing territorial claims and signaling military readiness.
Japan: Balancing constitutional limits, alliance with the U.S., and proximity to Taiwan.
Taiwan: Maintaining sovereignty amid threats from China and international entanglements.
Regional Security: Neighboring states and trade routes face heightened risks if conflict escalates.
What’s Next With rhetoric intensifying, Japan is calling for dialogue and peaceful resolution, while China continues to target both Taiwan independence advocates and critics abroad. The situation remains precarious, with the potential for miscalculation to trigger a broader regional confrontation.
China’s major stock indexes rose on Thursday, buoyed by strong gains in the new energy sector, as investors positioned ahead of a fresh batch of economic data due Friday.
At the midday break, the Shanghai Composite Index (.SSEC) gained 0.4% to 4,017.94, while the blue-chip CSI300 (.CSI300) advanced 1%, recovering earlier losses.
Sector Highlights
New energy stocks led the rally. The CSI New Energy Vehicle Index (.CSI399976) surged 6.9% to a three-year high, and the CSI New Energy Index (.CSI399808) climbed 5.5%, marking its strongest session in two weeks.
Key players posted sharp gains:
CATL (300750.SZ) jumped 8.2%, nearing record highs last seen in October.
Tianqi Lithium (002466.SZ) rose 9.9%.
The rally followed comments from a senior Ministry of Industry and Information Technology official, who said Beijing would soon unveil a comprehensive plan to boost the new energy battery industry and its supporting infrastructure.
Investor Moves
Zhikai Chen, head of Asian equities at BNP Paribas Asset Management, said domestic institutional investors may be shifting portfolios as their November fiscal year-end approaches.
Meanwhile, the artificial intelligence (.CSI930713) and semiconductor (.CSI931865) sectors edged higher, gaining 0.5% and 0.9%, respectively, after recent declines.
“There’s been a move toward booking strong year-to-date returns and rotating into dividend-paying sectors,” Chen noted, adding that the trend could continue into December.
Hong Kong Markets and Outlook
In Hong Kong, the Hang Seng Index (.HSI) slipped 0.6% to 26,766.71, while the Hang Seng China Enterprises Index (.HSCE) also fell 0.6%, following Wednesday’s one-month high.
Investors now await October credit data along with retail sales, industrial output, and fixed-asset investment figures due Friday, which are expected to provide clearer signals on China’s economic recovery and potential policy adjustments.
Labubu dolls were very popular during a shopping livestream in London on Tuesday, as Alibaba’s AliExpress brought China’s Singles’ Day shopping event to the UK. This event is part of a global trend for collectible Pop Mart toys, which include the Labubu, Crybaby, and SkullPanda dolls sold in sealed “blind boxes. ” These toys have greatly increased revenue for the Beijing-based Pop Mart, which aims for long-term growth inspired by Disney’s strategies.
To promote the sales, AliExpress enlisted British influencer Anna Williams, who has 1.3 million TikTok followers, to co-host livestreams with another influencer, Mary He. They plan to sell around 10,000 toys by Friday. Sales on AliExpress’s official Pop Mart store in the UK surged by 1,500% in October year-on-year, with overall collectible toy sales rising 300% in the first half of the year.
Livestream shopping, which began in China, is gaining popularity with Western brands, and there have been notable increases in live shopping since TikTok Shop launched in several European countries.
HONG KONG — Vaishnavi Srinivasagopalan, a skilled Indian IT professional who has worked in both India and the U.S., has been looking for work in China. Beijing’s new K-visa program targeting science and technology workers could turn that dream into a reality.
The K-visa rolled out by Beijing last month is part of China’s widening effort to catch up with the U.S. in the race for global talent and cutting edge technology. It coincides with uncertainties over the U.S.’s H-1B program under tightened immigrations policies implemented by President Trump.
“(The) K-visa for China (is) an equivalent to the H-1B for the U.S.,” said Srinivasagopalan, who is intrigued by China’s working environment and culture after her father worked at a Chinese university a few years back. “It is a good option for people like me to work abroad.”
The K-visa supplements China’s existing visa schemes including the R-visa for foreign professionals, but with loosened requirements, such as not requiring an applicant to have a job offer before applying.
Stricter U.S. policies toward foreign students and scholars under Trump, including the raising of fees for the H-1B visa for foreign skilled workers to $100,000 for new applicants, are leading some non-American professionals and students to consider going elsewhere.
“Students studying in the U.S. hoped for an (H-1B) visa, but currently this is an issue,” said Bikash Kali Das, an Indian masters student of international relations at Sichuan University in China.
China wants more foreign tech professionals
China is striking while the iron is hot.
The ruling Communist Party has made global leadership in advanced technologies a top priority, paying massive government subsidies to support research and development of areas such as artificial intelligence, semiconductors and robotics.
“Beijing perceives the tightening of immigration policies in the U.S. as an opportunity to position itself globally as welcoming foreign talent and investment more broadly,” said Barbara Kelemen, associate director and head of Asia at security intelligence firm Dragonfly.
Unemployment among Chinese graduates remains high, and competition is intense for jobs in scientific and technical fields. But there is a skills gap China’s leadership is eager to fill. For decades, China has been losing top talent to developed countries as many stayed and worked in the U.S. and Europe after they finished studies there.
The brain drain has not fully reversed.
Many Chinese parents still see Western education as advanced and are eager to send their children abroad, said Alfred Wu, an associate professor at the National University of Singapore.
Still, in recent years, a growing number of professionals including AI experts, scientists and engineers have moved to China from the U.S., including Chinese-Americans. Fei Su, a chip architect at Intel, and Ming Zhou, a leading engineer at U.S.-based software firm Altair, were among those who have taken teaching jobs in China this year.
Many skilled workers in India and Southeast Asia have already expressed interest about the K-visa, said Edward Hu, a Shanghai-based immigration director at the consultancy Newland Chase.
With the jobless rate for Chinese aged 16-24 excluding students at nearly 18%, the campaign to attract more foreign professionals is raising questions.
“The current job market is already under fierce competition,” said Zhou Xinying, a 24-year-old postgraduate student in behavioral science at eastern China’s Zhejiang University.
While foreign professionals could help “bring about new technologies” and different international perspectives, Zhou said, “some Chinese young job seekers may feel pressure due to the introduction of the K-visa policy.”
Kyle Huang, a 26-year-old software engineer based in the southern city of Guangzhou, said his peers in the science and technology fields fear the new visa scheme “might threaten local job opportunities”.
A recent commentary published by a state-backed news outlet, the Shanghai Observer, downplayed such concerns, saying that bringing in such foreign professionals will benefit the economy. As China advances in areas such as AI and cutting-edge semiconductors, there is a “gap and mismatch” between qualified jobseekers and the demand for skilled workers, it said.
“The more complex the global environment, the more China will open its arms,” it said.
“Beijing will need to emphasize how select foreign talent can create, not take, local jobs,” said Michael Feller, chief strategist at consultancy Geopolitical Strategy. “But even Washington has shown that this is politically a hard argument to make, despite decades of evidence.”
China’s disadvantages even with the new visas
Recruitment and immigration specialists say foreign workers face various hurdles in China. One is the language barrier. The ruling Communist Party’s internet censorship, known as the “Great Firewall,” is another drawback.
A country of about 1.4 billion, China had only an estimated 711,000 foreign workers residing in the country as of 2023.
The U.S. still leads in research and has the advantage of using English widely. There’s also still a relatively clearer pathway to residency for many, said David Stepat, country director for Singapore at the consultancy Dezan Shira & Associates.
Nikhil Swaminathan, an Indian H1-B visa holder working for a U.S. non-profit organization after finishing graduate school there, is interested in China’s K-visa but skeptical. “I would’ve considered it. China’s a great place to work in tech, if not for the difficult relationship between India and China,” he said.
Given a choice, many jobseekers still are likely to aim for jobs in leading global companies outside China.
“The U.S. is probably more at risk of losing would-be H-1B applicants to other Western economies, including the UK and European Union, than to China,” said Feller at Geopolitical Strategy.
“The U.S. may be sabotaging itself, but it’s doing so from a far more competitive position in terms of its attractiveness to talent,” Feller said. “China will need to do far more than offer convenient visa pathways to attract the best.”
Ho-Him writes for the Associated Press. AP writer Fu Ting in Washington and researchers Yu Bing and Shihuan Chen in Beijing contributed to this report.