SCMP China·Monday, January 12, 2026

SCMP China - Monday, January 12, 2026

10 stories~15 min

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Stories Covered

The US has played its hand in Latin America. Will China’s firms there cash out?

With domestic profits narrowing and production capacity expanding, China’s firms are continuing to widen their overseas footprints in search of new, more lucrative markets. In this series, we examine China Inc.’s next phase of “going global” and the complex, challenging international environment its companies have chosen to enter. In the days since Washington’s ousting and abduction of former Venezuelan president Nicolas Maduro – an event that sent shock waves through global markets – some...

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Why timing may be right for China to press North Korea on denuclearisation

The Ukraine war and Donald Trump’s return to the White House have significantly altered northeast Asia’s geopolitical landscape. North Korea’s defence treaty with Russia and leader Kim Jong-un’s decision to deploy troops to support Moscow have shattered any remaining illusions of strategic restraint. While Russia is believed to be supplying North Korea with finance and technology, Japan and South Korea are accelerating military spending and preparing for long-term confrontation, potentially –...

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2 supertankers sailing to pick up Venezuelan oil for China make U-turn, ship data shows

Two China-flagged supertankers that were ‌sailing to Venezuela to pick up debt-paying crude cargoes ‍amid the US oil embargo on the Opec country have made U-turns and are now heading back to Asia, LSEG shipping data showed on Monday. Following the US announcement last week of a US$2 billion deal to export up to 50 million barrels of Venezuelan oil stuck in storage, US President Donald Trump said China would not ‍be deprived of Venezuela’s crude. But the Asian country, the first market of the...

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Argentina’s Milei plans China trip for 2026 as US pressures Buenos Aires to curb ties

Argentine President Javier Milei said he intends to travel to China in 2026, confirming the plan at a moment when the United States is stepping up pressure on Buenos Aires to scale back its relations with Beijing. Milei made the remarks in an interview with the local newspaper Clarin that was published on Sunday. Asked whether the trip was still on his schedule, he said it was and framed the visit as part of Argentina’s wider commercial agenda rather than a political signal. “We have a very good

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Chinese state media repositions sci-fi space and air combat aircraft as tech target

Integrated space-air fighters featured in China’s Nantianmen science-fiction project represent the future of aerospace technology, and it is only a matter of time before they are realised, according to state media. The comments appeared on Friday in a programme on CCTV’s military channel that repositions the Nantianmen Project – a research initiative dating back to 2017 that focused on future air and space warfare – from a collection of fantasy concepts to attainable future tech. In the...

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Japan firms seen ‘stockpiling’ rare earths as Tokyo looks to G7 in face of China controls

Fears of China choking off exports of critical minerals to Japan amid a deepening political dispute have set off industry alarms and prompted Tokyo to elevate the issue at a G7 gathering of finance ministers this week, despite Beijing’s assurances that civilian trade would be spared. Japanese Finance Minister Satsuki Katayama said last week that she would attend the Group of Seven event in Washington on Monday with the “risk of a rare-earth-supply interruption from China in mind”, the...

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China’s fight against corruption is a battle we can’t afford to lose, Xi Jinping warns

Chinese President Xi Jinping has said there must be no room for corrupt elements to hide as he warned that the problem was a threat to the country’s development. On Monday, he told a plenary session of the Central Commission for Discipline Inspection (CCDI) – China’s top anti-corruption body – that the country had made notable progress last year, but the issue remained a “major struggle”. “Corruption is a stumbling block and obstacle to the development of the [Communist] party and the country,..

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Taiwan targets Beijing-linked infiltration with push for stricter punishment

Taiwan’s legislature is weighing amendments to an anti-infiltration law that would impose a minimum one-year prison term on Beijing-linked influence and infiltration activities, while critics have raised concerns about tighter social controls. The proposed changes to the Anti-Infiltration Act, under review by the legislature’s Interior Affairs Committee on Monday, come six years after the law took effect. They also come amid growing concerns within the government that prosecutions have resulted.

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DeepSeek founder’s High-Flyer ranks among China’s top hedge-fund firms in 2025

High-Flyer Quant, co-owned by DeepSeek founder and CEO Liang Wenfeng, recorded a return of 56.6 per cent last year to rank second among China’s 10 top-performing large hedge-fund firms. According to the ranking published on Monday by data provider Shenzhen PaiPaiWang Investment & Management, High-Flyer only trailed behind Lingjun Investment, which posted a return of 73.5 per cent in 2025. All the top performers were quantitative hedge funds, underscoring the popularity in China of using complex.

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Europe’s real threat is its own inner ‘demon’, not Russia: former Chinese envoy

Europe made a “misjudgment” in categorising Russia as its top security threat and instead the continent’s real danger lay in Europeans’ inner “demon”, according to China’s longest-serving ambassador to the US. Cui Tiankai, a former Chinese foreign vice-minister, also claimed Nato had outlived its relevance and argued that the transatlantic security alliance no longer served the long-term interests of its members. Cui’s comments came during a discussion examining US relations with its allies...

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