SCMP China·Thursday, January 8, 2026

SCMP China - Thursday, January 8, 2026

10 stories~15 min

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Stories Covered

China and US can strike ‘balance’ in Venezuela, says US energy chief Chris Wright

US Energy Secretary Chris Wright said there was room ‌to balance roles for both the United States ‍and China in Venezuela to allow for commerce but that Washington would not allow Beijing to have major control over the Latin ⁠American country. In an interview on Fox Business Network, Wright also said he expected to see Chevron quickly grow its activities in Venezuela, with ConocoPhillips and ExxonMobil also looking to play ‍a constructive role. “I think you will probably see some ‍long-term...

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Trump wants US$1.5 trillion for ‘dream US military’. Will China boost spending too?

US President Donald Trump’s proposal to boost next year’s military budget to US$1.5 trillion aims to blunt China’s global influence, a move analysts said could push Beijing to speed up its own military build-up with “greater urgency”. On Wednesday, Trump wrote on social media that the US military budget for the 2027 financial year should be raised in the face of “very troubled and dangerous times”. “This will allow us to build the ‘Dream Military’ that we have long been entitled to and, more...

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PLA drills target swarms of suicide drones – Taiwan’s front line of defence

The People’s Liberation Army has released footage of exercises countering swarms of suicide drones, a key element of Taiwan’s asymmetric defence strategy. Mainland state broadcaster CCTV showed a video on Sunday of a naval unit conducting anti-drone and uncrewed target drills as the PLA launched its 2026 training cycle. During the drills, the “blue force”, acting as the adversary, deployed multiple suicide drones to simulate ultra-low-altitude penetration strikes against maritime targets. In...

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What will top the agenda when Canada’s Mark Carney heads to China?

Trade, particularly in energy, is expected to dominate Canadian Prime Minister Mark Carney’s talks in China next week as his country looks to reduce its economic reliance on the United States. Carney’s five-day trip starts on Tuesday and will be the first by a Canadian leader to China since 2017. Carney said on Wednesday that his trip was part of a broader effort to bolster Canada’s economic resilience. “We’re forging new partnerships around the world to transform our economy from one that has..

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China says US seizure of Russian-flagged oil tanker ‘severely violated’ international law

China has criticised the US seizure of a Russian-flagged oil tanker on the high seas, describing it as a serious breach of international law. US European Command announced via social media that it had seized the tanker in the North Atlantic on Wednesday due to “violations of US sanctions” on Venezuela. It was swiftly followed by the seizure of a second vessel in the Caribbean. The first ship, formerly the Bella 1, was followed across the Atlantic for two weeks after it tried to evade a US...

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Mainland Chinese medicine firms tap Hong Kong capital to fuel global expansion

Traditional Chinese medicine (TCM) manufacturers are gearing up to go public in Hong Kong, aiming to tap the market for international expansion. TCM firms have joined the queue for initial public offerings (IPOs) in the city to test foreign investors’ appetite for their shares. The latest to join the queue are Sichuan Neautus Traditional Chinese Medicine and Hong Kong-based Herb Standard. “Hong Kong will serve as our hub for capital, research and development, as well as international...

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Tech war: China semiconductor expert suggests vigilance in buying Nvidia’s H200 AI chips

Influential Chinese semiconductor expert Wei Shaojun urged caution for mainland companies that place orders for Nvidia’s H200 artificial intelligence chips, as it remained a puzzle why the US government would make these advanced integrated circuits available to the country. “The US’ inconsistent stance on advanced chips – alternating between limited easing and renewed pressure – has left users struggling to discern its true strategic intent,” Wei, vice-president at the China Semiconductor...

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China launches Woody Island fresh food link as disputed Paracels hub expands

China has launched a fresh food supply service for residents of Woody Island, part of the hotly contested Paracel Islands in the South China Sea. A flight carrying fresh fruit, vegetables and meat landed on Woody Island – known as Yongxing Island in Chinese – on Tuesday, according to local state broadcaster Sansha TV. Woody Island is the largest outcrop in the Paracels, which are called the Xisha Islands in China. The island hosts the government of Sansha, which was established to administer...

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Chinese team unveils cleaner way to mine gold from e-waste – at a third of the price

Chinese scientists have unlocked a method to harvest gold from electronic waste at a cost less than a third of the present market price. This gold-mining method can extract precious metals from discarded central processing units (CPUs) in old mobile phones and computers and printed circuit boards (PCBs) removed from home appliances through chemical washing in less than 20 minutes. It achieves over 98.2 per cent gold leaching efficiency from waste CPUs and PCBs at room temperature, along with a..

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China says US trade war, tech curbs have spurred ‘independent innovation’

China’s economy has successfully weathered mounting shocks, including US tariffs and technology curbs, and continues to innovate despite a challenging environment, according to the mouthpiece of the ruling Communist Party. “Practice has fully demonstrated that China’s economic fundamentals are solid and its resilience strong, and that it is fully capable of withstanding rough waters and even stormy waves,” the People’s Daily said in an editorial on Thursday, published at the start of the first..

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