真相集中营

英文媒体关于中国的报道汇总 2025-07-27

July 28, 2025   55 min   11632 words

随手搬运西方主流媒体的所谓的民主自由的报道,让帝国主义的丑恶嘴脸无处遁形。

  • China’s navy submarine academy recruits first female students in 72-year history
  • How did a chocolate pie offend middle-class sensibilities of Sam’s Club members in China?
  • China couple’s caravan stolen, belongings worth US$70,000, woman’s heart drugs lost
  • How China’s ‘big winner’ BYD conquered Sri Lanka’s high-tariff car market
  • 3 self-sufficient young disabled Chinese men sell garlic for a living, inspiring many
  • China’s PLA Daily outlines image redemption checklist for political officers
  • China calls for global AI centre to reverse ‘fragmented trend’ as US tech rivalry deepens
  • Chinese woman raised in rescue centre for 9 years attends prestigious graduate school
  • Africa looks to China as ‘beneficial partner’ while US imposes tariffs, aid and visa cuts
  • China’s quant hedge funds stock up on talent – at US expense – to fuel expansion, AI use
  • Why are urban Chinese like my friend falling for guoxue scams?
  • China airport lounge criticised for demanding proof of assets worth US$2.8 million for entry
  • Chinese eyeing US degrees turn more discerning – is the opportunity still worth the risk?

摘要

1. China’s navy submarine academy recruits first female students in 72-year history

中文标题:中国海军潜艇学院在72年历史中招募首批女学生

内容摘要:中国海军潜艇学院在72年的历史中首次招收女性学生,10名女性被录取为本科生。她们均在今年的高考中取得了优异的成绩,接受了来自学院的录取通知。这所位于山东青岛的学院成立于1953年,致力于培养潜艇人员,承担国家防御和新型水下作战能力的培训。尽管学院在新闻报道中很少出现,但其培养的潜艇部队执行着重要的任务,包括攻击敌舰和海岸防御。 入学学生的背景各异,例如浙江省的王晨跃和江苏省的杨婧悦,均表达了对参军的向往。尽管全球女性军人比例偏低,特别是在潜艇领域,但近年来各国海军都开始逐步增加女性的参与。例如,美国海军预计将在2028年前任命首位女性潜艇指挥官。


2. How did a chocolate pie offend middle-class sensibilities of Sam’s Club members in China?

中文标题:一块巧克力派是如何触犯中国山姆会员店中产阶级的敏感神经的?

内容摘要:中国沃尔玛旗下的会员制零售商山姆俱乐部近期因销售一款49.9元的低价国产巧克力派而引发顾客的不满。这款巧克力派通常在便利店出售,与山姆俱乐部一直以来为中产阶级提供的全球优质商品形象大相径庭。许多忠实会员认为这一产品降低了品牌的质量标准,甚至对其信任度产生了影响。一位会员表示,她并不想在高档超市看到在街边商店就能买到的商品。此外,消费者在社交媒体上对山姆俱乐部的产品选择表示质疑,相关话题迅速传播,获取了数千万的关注。尽管巧克力派已从线上平台撤下,但顾客注意到店内逐渐出现更多低价国产小吃,引发了对品牌价值定位的担忧。专家指出,山姆俱乐部如果要扩大在小城市的市场,需更好理解中产阶级消费者的需求。


3. China couple’s caravan stolen, belongings worth US$70,000, woman’s heart drugs lost

中文标题:中国夫妇的房车被盗,价值70,000美元的财物丢失,女性心脏药物也遗失

内容摘要:一对来自中国的夫妇在西班牙的斯巴达海滩停放的房车被盗,损失约70,000美元的财物及妻子救命的药物。王先生和妻子在度假时将房车停好,外出游玩,回来的时候却发现房车不翼而飞。他们失去了包括电子产品、珠宝和很多纪念品在内的数百件物品,更严重的是,房车内存放着妻子治疗罕见心脏病的特效药,药物只能在奥地利开具处方。王先生表示,虽然妻子在短途旅行中带上了一些药物,但剩余的药物只存放在房车内的冰箱中,无法随身携带。他们不得不在没有休息的情况下,驾驶约41小时返回家中。警方表示找回房车的可能性很小,这对夫妇对此感到心碎,并提醒其他游客在欧洲旅行时务必提高警惕。


4. How China’s ‘big winner’ BYD conquered Sri Lanka’s high-tariff car market

中文标题:中国的“赢家”比亚迪如何征服斯里兰卡高关税汽车市场

内容摘要:中国汽车制造商比亚迪(BYD)凭借积极的定价策略、灵活的税务规划和可靠的当地合作伙伴,在斯里兰卡的电动车和混合动力车市场上占据了主导地位。由于经济危机带来的进口限制在2022年实施,斯里兰卡汽车市场在2023å¹´2月重新开放,但新征收的高额关税导致汽车价格飙升。比亚迪通过在车型配置上巧妙设计,确保其电动车型以低于100千瓦的功率生产,从而降低税负,成功打入市场。根据数据显示,至2023å¹´5月,比亚迪在斯里兰卡电动车市场的销售额占比达到90%,并占据了整体汽车市场的约11%。此外,由于其当地合作伙伴强大的信誉,比亚迪赢得了消费者的信任。然而,斯里兰卡的充电基础设施仍不完善,限制了电动车的长途旅行。业界呼吁政府提供支持,以扩展充电设施,满足日益增长的市场需求。


5. 3 self-sufficient young disabled Chinese men sell garlic for a living, inspiring many

中文标题:三位自给自足的年轻残疾中国男性靠卖大蒜为生,激励了许多人

内容摘要:三位来自中国东南部的年轻残疾男性通过销售大蒜和生姜谋生,展现了独立和相互支持的精神。他们生活在江西省,均受脑瘫影响。三人住在一起,共同分担日常生活中的责任,并依靠各自的政府残疾津贴生活。他们每天凌晨3:30出发,推着轮椅,运送35公斤的大蒜和生姜到市场。白天,他们还在路边卖瓶装水,收入约为每人每天45元人民币。 在社交媒体上,一位名叫小雨的女子关注他们的日常生活,希望能给予更多支持。尽管面临困难,三名年轻人乐观向上,尤其是其中的齐。他们的艰辛努力感动了很多人,视频在网络上获得了超过20万次点赞,许多人表示他们的努力让自己感到生活中的困难微不足道。


6. China’s PLA Daily outlines image redemption checklist for political officers

中文标题:《中国人民解放军日报》列出了政治干部形象重塑清单

内容摘要:中国人民解放军官方报纸《解放军报》发表了一系列评论,要求政治干部重建形象。此举紧随北京新规发布,旨在“消除有害影响”,以应对一系列军事高层整顿,包括中共中央军委的高官被免职。评论强调了对党的高度忠诚、工作中的诚实以及在提升士兵时的正直。这些评论分别讨论了三个要点:政治忠诚的重要性,事实和诚实的必要性,以及在人员决策中保持正直。文章指出,政治干部不能模棱两可,面对重大问题要明确立场,并在实际工作中彰显出原则性、真诚和勇敢。此外,强调选拔干部时应偏重基层经验,避免个人关系或利益牵扯。分析师认为,这反映了北京意识到军中政治干部形象受损,并试图修复这一形象。


7. China calls for global AI centre to reverse ‘fragmented trend’ as US tech rivalry deepens

中文标题:中国呼吁建立全球人工智能中心,以扭转美国科技竞争加剧带来的“碎片化趋势”

内容摘要:中国总理李克强在上海的世界人工智能大会上呼吁建立一个国际中心,以促进全球人工智能(AI)的合作并应对当前的“碎片化趋势”。李克强指出,各国在AI的监管方式、制度框架和规则上存在显著差异,亟需加强协调,以便尽早建立广泛接受的全球治理框架。此举正值中美科技竞争加剧之际,李的提案出现在美国公布AI发展蓝图后,该政策旨在通过放宽监管、基础设施投资和扩大技术盟友的AI出口来增强美方的AI主导地位。他警告AI可能导致技术和资源的集中,强调开放、共享和公平获取AI的重要性。李克强还提到AI发展面临的挑战,包括机器幻觉、深度伪造和就业伦理等,呼吁社会达成更大共识,以确保AI的发展能带来全球利益,而非成为对人类的威胁。


8. Chinese woman raised in rescue centre for 9 years attends prestigious graduate school

中文标题:一位在救助中心生活了9年的中国女性考入了著名研究生院

内容摘要:一名在上海救助中心长大的23岁中国女性梁,近日收到了一所著名研究生院的录取通知,表达了对社会工作者“家庭”的感激。她五岁时父亲因病去世,母亲失踪,被送入救助中心。虽然曾有一个寄养家庭,但因个人原因断绝了关系,梁再次回到中心,社会工作者像亲人一样关心她,帮助她克服了没有户口的问题,确保她能顺利上学。 在2020年,梁进入了上海健康科学学院生物医学工程专业,并在假期回到救助中心。这一夏天,她收到了上海科技大学研究生项目的录取。梁表示,未来希望成为一名公务员,回馈社会。救助中心也为她的学费和生活费申请了补助。这一故事反映了社会服务如何不仅满足孩子的基本需求,也助力她们实现梦想。


9. Africa looks to China as ‘beneficial partner’ while US imposes tariffs, aid and visa cuts

中文标题:非洲视中国为“有利伙伴”,而美国则实施关税、削减援助和签证。

内容摘要:分析师认为,美国在非洲的影响力正在下降,而中国的贸易政策和经济参与正逐渐超越美国日益限制的措施。中国最近宣布对53个非洲国家(不包括斯威士兰)扩大免税政策,反观美国却在加征贸易关税、削减援助和实施签证限制。观察人士指出,这一免税政策使得中国在非洲的形象更加正面,非洲国家越来越视其为可靠的合作伙伴。美国在非洲的援助已不再能赢得信任,特别是特朗普政府的政策,让非洲国家感到不满。非洲对中国的支持度高于美国,约60%的非洲民众对中国的影响持积极看法,而美国的支持率为53%。与此同时,许多非洲人认为美国在非洲的行为过于自我中心,不愿意反思其影响。此外,中国的基础设施项目更加显眼,使其在非洲的影响力日益增强。


10. China’s quant hedge funds stock up on talent – at US expense – to fuel expansion, AI use

中文标题:中国对冲基金通过吸纳人才(以美国为代价)来推动扩张和人工智能使用

内容摘要:中国的量化对冲基金正在利用美国学术界的动荡,从中吸引顶尖人才。随着美国政府对外国学生的签证限制和资金削减,越来越多的中国留学生面临学业困境,上海的量化对冲基金公司明视把握住这一机会,扩展实习生转为全职员工的招聘政策。该企业的创始人袁宇表示,近年来公司提供的薪资已超过许多美国顶尖公司。中国的量化投资市场正在迅速增长,资产管理规模已达到超过11万亿美元,并逐渐向海外扩展,以提升参与国际市场的能力。 与此同时,量化投资行业对人工智能的需求也在加大。随着技术进步和海外人才的回流,国内公司的竞争力有望增强。尽管目前仍有行业政策限制,但大型企业已在积极筹备海外业务,抢夺市场份额,实现更广泛的投资机会。


11. Why are urban Chinese like my friend falling for guoxue scams?

中文标题:为什么像我朋友这样的城市中国人会被骗入国学骗局?

内容摘要:这篇文章探讨了在中国城市中,尤其是受过教育的中产阶级面临的精神迷茫和价值观动摇。在现代化的进程中,许多人感到孤独和无所依托,因此开始追寻传统文化和国学(guoxue),试图找到内心的平静。作者通过与一位朋友的经历,反映了这种现象的复杂性。朋友加入了一个国学阅读小组,试图寻求精神的启迪,但小组的学习方式却让作者感到不适——缺乏批判性思维和讨论,要求无条件遵循。随着时间推移,朋友渐渐被这个组织吸引,甚至参加高价的研讨会。文章指出,这种文化复兴被商业化,成为一种寻找归属感的方式,而不是深入的知识或智慧。许多人在精神的绝望中,变得易受操控,渴望一个能够坚守的地方。最后,作者对失去联系的朋友感到忧虑。


12. China airport lounge criticised for demanding proof of assets worth US$2.8 million for entry

中文标题:中国机场贵宾室因要求提供280万美元资产证明入场而受到批评

内容摘要:中国某机场的VIP休息室因要求进入者提供至少2000万元人民币(约合280万美元)的资产证明而引发广泛争议。7月17日,一名用户在网上分享了她作为中国招商银行“金向日葵”项目的客户,想要使用成都天府国际机场的国际头等休息室,但被告知除了使用积分外,还需提供20万元资产的证明。她对此表示困惑,认为富有人士会直接购买头等舱票,而不是某个特定条件的休息室访问权限。 招商银行确认,该要求自2024å¹´6月起生效。该行表示,因休息室客流量大,他们提升了资产门槛,以确保服务质量。然而,此政策受到消费者权益法专家的批评,认为这一要求严重损害了早前客户的权利,引发了网友们的热烈讨论,有人认为可能会进一步提高资产门槛。


13. Chinese eyeing US degrees turn more discerning – is the opportunity still worth the risk?

中文标题:“中国人对美国学位的关注愈加挑剔——这样的机会还值得冒险吗?”

内容摘要:尽管中美之间的紧张关系加剧,中国学生仍积极申请美国高等教育,但选择变得更加审慎。19岁的林杰森申请了10所美国本科院校,并获得了布兰代斯大学每年1.5万美元的奖学金。他的母亲对此感到忧虑,尤其是对美国的“安全稳定”问题表示担心。许多中国学生依然追求美国大学的学术自由和优质教育,但更青睐知名院校、热门专业及较灵活的经济援助方案。 在一些学校,例如新墨西哥大学和加州大学旧金山分校,预计中国学生的入学人数仍将维持稳健,反映了对美国教育价值的认可。然而,签证限制和对国际学生的审查加剧,可能导致学生将目光投向加拿大等其他国家。根据最新数据,2023-2024学年中国在美学生人数下降4%,达到277,398人。整体来看,尽管面临困难,许多中国学生依然把美国教育视为重要投资。


China’s navy submarine academy recruits first female students in 72-year history

https://www.scmp.com/news/china/military/article/3319706/chinas-navy-submarine-academy-recruits-first-female-students-72-year-history?utm_source=rss_feed
Yang Jingyue of Jiangsu province is one of 10 women who will enter the PLA Naval Submarine Academy. Photo: Handout

For the first time in 72 years, China’s top training institution for navy submarine personnel recruited 10 women for its bachelor’s degree programme.

The 10 students, who achieved top scores on this year’s university entrance exams, were accepted by the PLA Naval Submarine Academy, according to a social media post by the institution on Thursday.

Among the students were Wang Chenyue, from the village of Qianhe in eastern China’s Zhejiang province, who scored 647 out of 750 on her exam. As the academy delivered her acceptance letter, she said she had always wanted to join the military, especially the navy.

Another incoming student, Yang Jingyue from Taizhou, Jiangsu province, scored 652 out of 750 on her exam. She said she wanted to dedicate herself to China’s national defence, according to the social media post.

The academy was founded in 1953 and launched undergraduate programmes in 1956, master’s degree programmes in 1987, and doctoral programmes in 2003, according to its website.

Some of the academy’s key strengths and areas of specialisation include navigation technology, underwater target recognition, weapon systems and engineering, and naval architecture and ocean engineering.

Wang Chenyue of Zhejiang province says she has always wanted to join China’s military, especially the navy. Photo: Handout

Located in Qingdao, Shandong province, the academy is a higher education institution dedicated to training talent for China’s naval submarine forces, rescue operations and new underwater combat capabilities. It is known as “China’s most mysterious military academy”, according to state broadcaster CCTV.

The academy has kept a low profile, hardly appearing in news reports, despite its importance. The navy’s submarine force carries out missions such as attacking enemy vessels, coastal defence, and breaking through blockades, according to CCTV

Students at the academy undergo rigorous training, according to the broadcaster. For example, sonar operators must be able to differentiate between the sounds of different types of ships sailing different courses at varying speeds and seasonal water conditions.

Submariners must master skills including damage control and emergency escape. In daily training, they must crawl through torpedo tubes connected to a deep-diving pool to simulate the physical pressures encountered during underwater escape.

There are significantly fewer women serving in militaries worldwide than men, especially on submarines.

In the US, 712 women are currently assigned to submarines – just under 5 per cent of a total force of more than 15,000, according to Military Times. However, the US Navy projected it would name its first female submarine commanding officer by 2028, the American defence newspaper said.

In China, the navy appointed its first female commander to one of its warships in 2022. A year later, the navy posted recruitment notices for women to become aircraft carrier-based pilots.

How did a chocolate pie offend middle-class sensibilities of Sam’s Club members in China?

https://www.scmp.com/economy/china-economy/article/3319698/how-did-chocolate-pie-offend-middle-class-sensibilities-sams-club-members-china?utm_source=rss_feed
Shoppers at a Sam’s Club store in Qianhai, Shenzhen, in January last year. Photo: Eugene Lee

Sam’s Club, the US membership-only bulk retailer owned by Walmart, has long been seen as one of the foreign supermarkets most attuned to the needs of China’s middle class.

Each year, millions of urban Chinese families pay a 260 yuan (US$36.28) annual fee in exchange for what they see as access to a globally curated, quality lifestyle - featuring products like Scotch whisky, Chilean dried prunes, and chilled beef from the United States and Australia.

That selection has come to symbolise a middle-class sensibility attuned to globally focused consumption. But that premium image was shaken recently when Sam’s Club stores in China began stocking a domestically made chocolate pie - priced at 49.9 yuan for a pack of 48 – touching a nerve among its loyal membership base.

Well-known for its low price, the pie in question is often found in neighbourhood convenience stores or corner shops in China. But it falls short of what many health-conscious, quality-driven Chinese middle-class shoppers consider “decent” or “premium”.

Wendy Liu, a Shenzhen-based operations director at a foreign firm and a Sam’s Club premium member who pays 600 yuan a year for the privilege, said her trust in the brand was eroding.

“This chocolate pie is just the trigger,” she said. “The real concern is that Sam’s standards for supplier quality may be slipping.”

Many disappointed members took to social media to question Sam’s Club’s product curation. They shared the same complaint: “I pay 260 yuan a year not to buy things I can get at any corner shop.”

Others went further, filing complaints to Sam’s Club’s American headquarters. The incident quickly gained traction across major Chinese social media platforms, with related topics garnering tens of millions of views and sparking widespread public debate.

Although the chocolate pie has been pulled from Sam’s Club’s online platform, consumers have noticed a growing number of domestic, low-cost snacks on store shelves – fuelling doubts about whether the retailer is straying from its original value proposition.

“These domestic brands are fine, I buy them too, but they belong in budget convenience stores, not a global-membership supermarket,” one user wrote on the Weibo microblogging platform.

According to Walmart China’s website, Sam’s Club “provides members with a quality lifestyle by offering differentiated products, a unique shopping experience and membership benefits”.

“With selection at the core of its differentiation strategy, Sam’s Club leverages its strong global sourcing resources and item driven approach to offer quality merchandise and exclusive savings,” it says.

Walmart didn’t immediately reply to the Post’s emailed request for comment.

That approach, cultivating a brand image of being an aspirational, quality-conscious “middle-class lifestyle club”, has attracted a large and loyal following in China.

Data disclosed by Walmart showed that Sam’s Club’s revenue in the Chinese market exceeded 100 billion yuan last year, with more than 5 million members.

Since 2020, Sam’s has been accelerating its expansion in China, opening five to six new stores a year. That pace appears to have picked up this year, with Walmart recruitment postings featuring positions at seven new Sam’s Club stores across China.

Li Yixin, a veteran public relations strategist who has worked for several international brands and the founder of Shanghai-based Mandarin Communication, said Sam’s Club was opening new stores in smaller cities in China, which could explain its adoption of more domestic, mass-market brands to appeal to consumers in less prosperous locations.

“But the incident reflects a misreading of what Chinese middle-class consumers really want,” Li, also a Sam’s Club premium member, said. “Even in a climate of economic slowdown and consumption downgrading, Chinese middle-class shoppers are not asking Sam’s to go that cheap.

“In other words, a Sam’s endorsement alone doesn’t necessarily make a domestic brand more appealing to this demographic.”

China couple’s caravan stolen, belongings worth US$70,000, woman’s heart drugs lost

https://www.scmp.com/news/people-culture/trending-china/article/3318402/china-couples-caravan-stolen-belongings-worth-us70000-womans-heart-drugs-lost?utm_source=rss_feed
A Chinese couple’s caravan was stolen in Spain, leaving them bereft of US$70,000 worth of belongings and the woman’s live-saving heart medication. Photo: SCMP composite/RedNote

A couple from China whose caravan was stolen in Spain were left bereft of property worth US$70,000 and the life-saving drugs the wife needed to treat her rare heart condition.

A Chinese resident in Austria, surnamed Wang, said he and his wife parked their mobile home at a beach in San Sebastian, Spain, and drove their car to visit the town.

However, when they returned that night, the caravan was gone.

Wang posted on mainland social media that hundreds of items were lost.

The couple, who live in Austria, drove off for a day trip in Spain, leaving their mobile home parked up. Photo: Douyin

Among them were electronic products, jewellery and souvenirs they had bought in other countries.

Most importantly, the medicine his wife needs for her rare form of heart disease, which can only be prescribed in Austria, was also gone.

Wang’s wife has suffered from pulmonary hypertension, a type of high blood pressure that affects the heart and lungs, for 10 years.

He said his wife was using an “extremely rare and expensive” injectable medicine that needs to be kept in a fridge, so they could not take it everywhere with them and had to keep it in the mobile home.

Wang said he was disappointed as he was aware of the problem of rampant theft at car parks.

The wife took enough medicine to last the day trip, but left the rest behind in a fridge in the parked-up caravan. Photo: Douyin

As a result, before leaving the caravan, he wrote notes in English, French, German, Spanish and Italian begging the potential thieves not to steal the medication; otherwise, otherwise his wife could die.

Wang said the medicine left in his wife’s injection pump would only last for 36 hours, and they could only get the special medicine legally at her hospital in Austria.

They had to drive for 41 hours, almost non-stop, to their home 2,100km away.

What made the situation even worse was the fact that Wang could not drive, and his wife had to drive all the way.

Wang said doctors had forbidden his wife to fly.

He said she was now resting at their home in Austria, that she experienced 15 atrial fibrillations on the first day after they arrived home.

Wang said the mobile home and everything in it was worth a total of US$70,000.

Two witnesses said a man and a woman driving a car with a French registration plate carried out the theft.

Spain is a popular destination for Chinese tourists, but it has also become a haven for opportunistic European criminals. Photo: Shutterstock.

Wang said the police told them it was unlikely they would retrieve their caravan.

He said they were heartbroken as they did not expect the thieves to be so “cold-hearted”.

He said he posted their ordeal online as a safety reminder to other people travelling in Europe.

“It is quite common to be robbed in Europe now. Tourists should all be careful,” one online observer said.

“It was shocking to see such a big trailer get stolen, but not so shocking when I saw it had happened in Europe,” said another.

How China’s ‘big winner’ BYD conquered Sri Lanka’s high-tariff car market

https://www.scmp.com/week-asia/economics/article/3319625/how-chinas-big-winner-byd-conquered-sri-lankas-high-tariff-car-market?utm_source=rss_feed
A BYD Atto 3 compact SUV. The Chinese carmaker accounted for roughly 90 per cent of Sri Lanka’s EV sales in May. Photo: BYD

Aggressive pricing, shrewd tax engineering and a trusted local partner have propelled China’s BYD to a commanding position in Sri Lanka’s electric vehicle and hybrid market, disrupting a sector long constrained by import restrictions and setting the stage for dramatic expansion.

Sri Lanka’s car market, starved of new imports for nearly five years under a sweeping ban imposed in the lead up to the economic crisis of 2022 to stabilise foreign reserves, reopened in February as the government lifted restrictions. But a new tariff regime – with excise duties reaching 300 per cent, 18 per cent value-added tax, and luxury taxes of up to 100 per cent – has sent car prices soaring.

Crucially, import duties on EVs are calculated based on motor power and year of manufacture, with steep tax increases for vehicles exceeding the 100-kilowatt threshold.

Industry analysts say BYD has configured models such as the Atto 3 just below that limit, qualifying for significantly lower duties. In most other markets, the same model features a 150kW motor, making the Sri Lankan variant better value for money.

Visitors examine a BYD Atto 3 EV at an auto expo in Bangkok in 2023. Photo: EPA-EFE

BYD’s aggressive pricing strategy brought affordability back to the market and positioned the company as a disrupter, Sheran Fernando, former chairman of the Ceylon Motor Traders Association, told This Week in Asia.

Vehicle prices initially surged as the Sri Lankan rupee depreciated sharply against the US dollar, with pent-up demand and dealer mark-ups driving costs even higher during the import ban, Fernando said.

But he said this trend was reversed by BYD and its local agent JKCG Auto – a subsidiary of John Keells Group, Sri Lanka’s largest listed company – whose competitive pricing helped pull down overall market prices.

The evolving price landscape has also exposed the uneven impact of Sri Lanka’s tax regime on different brands. Murtaza Jafferjee, CEO of JB Securities and chairman of the Colombo-based Advocata Institute think tank, said the system’s complexity had created clear advantages for certain manufacturers.

“Because of the vagaries of the tariff system … it is creating winners and losers – and BYD is a big winner because they have far more flexibility in their model offerings,” he said, pointing to the carmaker’s deliberate adaptation of motor power to skirt higher taxes.

That strategic flexibility has paid off. By May, BYD accounted for roughly 90 per cent of Sri Lanka’s EV sales and nearly 11 per cent of the entire car market – up from just 2.1 per cent and 0.005 per cent respectively in 2018, according to data from Fernando’s team.

“I would expect the total EV segment, dominated by BYD, to be at around 30 per cent of the total market by December 2025,” Fernando said.

This marks the first time EVs have captured a significant share of the car market in Sri Lanka, where they had previously been a niche product.

Buyer confidence has also been buoyed by the strength of BYD’s local partner, according to Jafferjee. JKCG Auto is a joint venture between John Keells Group and Nepal’s Chaudhary Group.

“So you know that trust factor is also there, that although it is a new brand, the strength of the partner has made a difference. They have invested in the service and maintenance and warranty.”

A mechanic works on a car at a garage in Colombo. Sri Lanka’s car market largely caters to the wealthiest 5 per cent of households. Photo: AFP

By May, more than 5,000 BYD vehicles had been ordered, according to John Keells Holdings. However, JB Securities data showed only 1,254 registrations by June, a lag Jafferjee attributed to shipping and processing delays.

“June is now reflective of the true demand,” he said. “Previously, the demand was building. You might see this momentum for the rest of the year.”

The most popular BYD models, the hybrid Sealion and all-electric Atto 3 SUVs, saw 502 and 501 imports by June, respectively.

Sri Lanka’s car market largely caters to the wealthiest 5 per cent of households – around 450,000 families – with BYD now dominating the mid-range segment, according to Jafferjee.

Fernando said BYD’s range had drawn buyers from across the spectrum, directly supplanting mid-market Japanese saloons, small SUVs and premium hatchbacks, many of which were previously imported as used vehicles.

BYD Dolphin Surf EVs are seen parked at a presentation event in Berlin, Germany, in May. Photo: Reuters

The Dolphin, priced at 10 million rupees (US$33,000), appeals to small car buyers, while the Atto 3, at 17 million rupees, has seized a large share of the mid-sized market.

“The interesting factor is that in the premium segment, the price difference was so drastic that BYD took market share here as well,” Fernando said, highlighting that the Sealion, at 25 million rupees, was likely to attract buyers from luxury brands such as Range Rover, whose vehicles cost between 100 million rupees and 180 million rupees.

For Habbipriya Karthigesan, a 31-year-old financial analyst from Colombo, the decision to replace her Honda Axio with an Atto 3 was straightforward. She values its “larger” size, “good value for money” and the superior driving experience of an EV.

A particularly welcome benefit, she said, had been the dramatic reduction in running costs. By charging her vehicle with solar power the home she shares with her brother, their monthly fuel expenses have tumbled from around 40,000 rupees to just 3,000 rupees.

However, the rapid adoption of EVs has exposed Sri Lanka’s inadequate charging infrastructure, especially for long-distance travel. “Taking it for long distances is still tricky, and requires a lot of planning beforehand. Really long distances are a risk we will not take,” Karthigesan said.

Prash, a 43-year-old director at a digital media company who asked to be identified by one name only, echoed these concerns, saying his family opted for a BYD Sealion 6 hybrid rather than a fully electric model due to the limited charging network.

Karthigesan acknowledged other potential hurdles, including the eventual cost of battery replacement and the absence of a second-hand market for EVs, but said these were challenges she was willing to accept.

Given the surge in demand, expanding charging infrastructure was now urgent, Fernando said, stressing that government support was essential to ensure sufficient grid capacity and fast-charging options.

3 self-sufficient young disabled Chinese men sell garlic for a living, inspiring many

https://www.scmp.com/news/people-culture/social-welfare/article/3319341/3-self-sufficient-young-disabled-chinese-men-sell-garlic-living-inspiring-many?utm_source=rss_feed
Three young Chinese men with disabilities sell garlic and polish shoes to earn a living, inspiring many with their independence and mutual support. Photo: RedNote

Three young disabled men from southeastern China earn a living by selling garlic and ginger, inspiring many online with their self-reliance and mutual support.

According to mainland media Jiupai News, a young woman known as Xiaoyu, who lost a hand and was disfigured in a fire, is a close friend of the three men. She documents their daily routines and work, sharing the content online with 23,000 followers in hopes of garnering social support for them.

The trio, all in their 20s from Jiangxi province, live with varying degrees of cerebral palsy.

One of them, known as Long, is the most severely affected, lacking feeling in his legs, having hand deformities, and depending on a wheelchair. Han struggles with speech, while Qi has weak legs and cannot stand for more than three minutes.

They met through local events organised by the Disabled Persons’ Federation and now share a small rented room, assisting each other with dressing and dividing cooking and other household responsibilities.

Living together in a small rented room, they help each other with dressing and share responsibilities for cooking and other household tasks. Photo: RedNote

Qi’s living expenses are supported by his grandfather’s pension, while the other two rely on a monthly government disability allowance of 400 yuan (US$55). Local officials also frequently visit to provide food and supplies.

Qi, who faced constant bullying for his gait while growing up, stated: “If we want to change our fate, we have to rely on our own hands.”

He explained that they started their small business to “find value in our lives.”

Every morning at 3:30, the trio load 35kg of garlic and ginger onto a wheelchair for a one-hour journey to the market.

Every morning at 3:30, they load 35kg of garlic and ginger onto a wheelchair for a one-hour journey to the market. Photo: RedNote

By noon, most of the stock is sold, earning them about 45 yuan (US$6) a day, although their total monthly income remains undisclosed.

In the afternoons, they sell bottled water by the roadside, often working until 10pm or later.

Long enjoys chatting with customers, while Qi manages packing and calls out for sales.

In their videos, fellow vendors frequently assist with heavy lifting. An elderly customer even praised them as “amazing” and gifted them fruits and vegetables.

The trio previously shined shoes on a pedestrian bridge for one yuan per customer but ceased the activity due to decreasing business in the heat.

After selling their entire garlic stock, they offer bottled water by the roadside, frequently working until 10pm or later. Photo: RedNote

Qi shared that he once avoided social interactions and stayed confined at home. However, after meeting the upbeat Long and Han, he has become more optimistic and now often smiles in front of the camera.

He mentioned that they are not considering marriage at the moment and prefer to concentrate on their work.

Videos of the trio operating their street stall have garnered over 200,000 likes on mainland social media. In July, they also began selling household goods online.

Their story has resonated with many, with one online user commenting: “Seeing you work so hard makes my own troubles feel small. Thank you for your strength!”



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China’s PLA Daily outlines image redemption checklist for political officers

https://www.scmp.com/news/china/politics/article/3319628/chinas-pla-daily-outlines-image-redemption-checklist-political-officers?utm_source=rss_feed
The PLA Daily has published a three-part series urging political officers to rebuild their images and reputations. The commentaries follow Beijing’s introduction on Monday of strict new guidelines for the cadres. Photo: Xinhua

China’s official military newspaper has urged the force’s political officers to rebuild their image by showing more loyalty to the top leadership, honesty in their work, and integrity in how they promote soldiers.

The series of commentaries in the PLA Daily follows Beijing’s new disciplinary guidelines released on Monday to “eliminate toxic influences” in the work of political officers, after a string of high-profile military crackdowns. The latest events include the removal last month of top general Miao Hua from the Central Military Commission (CMC), China’s highest military command.

Observers remarked that the guidelines and commentaries on improving the image and reputation of political cadres contained subtle clues about the misdeeds of the fallen generals, as well as Beijing’s expectations for political officials in the People’s Liberation Army (PLA) to address and repair the damage.

The three-part series, titled “How to firmly establish the image and reputation of political cadres”, ran from Tuesday to Thursday on the front pages of the PLA Daily as well as its social media platforms.

The first commentary stressed the importance of maintaining political loyalty to the Communist Party leadership.

“Once loyalty is watered down or falsified, personal interest will overwhelm the collective good in the face of complex struggles and tests of interests, and [they] may even slide into the abyss, betraying both the original intention of joining the army and the party oath,” Tuesday’s edition said.

To illustrate how political cadres must be “very clear-headed and firm in their stance”, the article cited a historical power struggle between Zhang Guotao, a former top communist army leader, and Mao Zedong during the Long March.

“They must not be ambiguous in their attitude or vague in their stance in the face of major issues, and they must not speak with two mouths or show two faces,” it said.

The second commentary in the series focused on truthfulness and honesty: “Telling the truth and reporting the facts are important manifestations of a political cadre’s impartiality and integrity.”

Warning that “falsifying facts and avoiding problems” essentially showed a lack of responsibility caused by “impure party spirit and selfishness”, the article urged PLA officials to lead from the front by “promoting the spirit of struggle, telling the truth and reporting the facts”.

Cadres should stand firm when taking responsibility and “decisively draw the sword when facing a fight” to establish an image that was principled, sincere and courageous in action, the commentary said.

The third piece emphasised the importance of integrity in making personnel decisions. “Promoting those who are down to earth can inspire a large number of people; but promoting those who are opportunistic and scheming for power will discourage many others,” it said.

The commentary reiterated Chinese President Xi Jinping’s directive that promotions should prioritise those with grass-roots and frontline experience who were recognised by the rank and file. Recommendations from political officials must follow established “principles, policies, rules and procedures”, it said.

“[They must] not be burdened by personal relationships, trapped by connections or tempted by interests … We must truly discover good cadres in a timely manner and use them reasonably to ensure that the PLA always produces talent.”

The dismissal of Miao Hua, who had overseen the PLA’s ideology work, followed the removal of former defence minister Li Shangfu from the CMC in October 2023. Li’s predecessor, Wei Fenghe, is also under investigation on suspicion of corruption and has been expelled from the party.

He Weidong, the second-ranked vice-chairman of the CMC and one of the 24 members of the party’s Politburo, has not been seen in public since the end of the annual legislative session in March.

He is the third most powerful commander in the PLA and is considered a close associate of Xi, who chairs the CMC.

Last month, Vice-Admiral Li Hanjun, the navy’s chief of staff, was expelled from the national legislature – a clear sign that he was also facing disciplinary action.

At least 16 military lawmakers have been removed from the National People’s Congress since its current term began in March 2023.

Deng Yuwen, former deputy editor of the Central Party School’s official newspaper Study Times, said the PLA Daily commentaries and the new guidelines showed that Beijing was aware of the damage to the image and reputation of political cadres within the military and was trying to repair it.

“Although the PLA Daily did not name anyone specifically, it is easy to see who they are referring to given the timing,” said Deng, who noted that both Miao and He had supervised political and personnel decisions at the CMC.

“When the newspaper talked about loyalty and truthfulness in their work and integrity in promotions, it is very likely that major problems were found in these areas.”

A Beijing-based political analyst agreed, adding that political work was the biggest factor that set the PLA apart from other militaries. Having political commissars oversee commanders was considered the biggest advantage for the party, ensuring its absolute control over military leadership, said the analyst, who asked not to be named due to the sensitivity of the matter.

“We should watch to see if the Politburo meeting at the end of July is going to announce more corruption crackdowns among the top generals ahead of their retreat in Beidaihe,” the analyst said.

Top Chinese leaders traditionally head to the coastal resort in Beijing’s neighbouring Hebei province for a two-week summer break in early August.

China calls for global AI centre to reverse ‘fragmented trend’ as US tech rivalry deepens

https://www.scmp.com/news/china/politics/article/3319686/china-calls-global-ai-centre-reverse-fragmented-trend-us-tech-rivalry-deepens?utm_source=rss_feed
Chinese Premier Li Qiang addresses global AI experts and industry representatives at the World Artificial Intelligence Conference, in Shanghai on Saturday. Photo: Reuters

Chinese Premier Li Qiang has called for the establishment of an international centre to better coordinate global cooperation on artificial intelligence (AI) and address the current “fragmented trend”.

The move comes as China looks to expand its influence in the new but rapidly evolving sector amid a bitter tech competition with the United States.

Opening the annual World Artificial Intelligence Conference in Shanghai on Saturday, Li said: “Currently, global AI governance is showing a fragmented trend overall, particularly with significant differences among nations in regulatory approaches, institutional frameworks and rules.

“We should enhance coordination and alignment to establish a widely accepted global governance framework for AI at an early date.”

Top AI scholars as well as industrial representatives from China and around the world are attending the three-day event in the Chinese financial and commercial capital.

Li’s proposal comes days after the US announced its own blueprint on AI development. The White House policy framework released on Wednesday aims to bolster American AI dominance through deregulation, infrastructure investment and expanding AI exports to allies in the technological arms race with China, described by President Donald Trump as a fight that will define the 21st century.

Without directly mentioning the US, Li warned that AI, which required high concentrations of technology, capital and talent, could become an “exclusive game” for a select few nations and companies that control critical resources.

“Only by upholding openness, sharing, and equitable access to AI can we ensure that more countries and communities benefit from its advancements,” China’s No 2 official said, adding that Beijing was willing to share its experience and technologies with the Global South.

He pledged that China would “actively” promote open sources for AI while working with other countries to “strengthen cooperation on fundamental research and core algorithm development”.

However, there remained challenges to AI development, Li noted. These included machine hallucination, deepfakes, AI proliferation, and employment ethics, which showed that the need to find a balance “between development and security urgently requires further consensus from the entire society”.

He also noted that the fast-evolving technology was increasingly constrained by bottlenecks such as the insufficient supply of computing power and chips, the gradual depletion of high-quality training data, as well as “obstacles to collaboration between companies and talents”.

Managing the risks of AI should be a collective effort to ensure its development represented “a major opportunity to improve our world, not evolve into a significant threat to humanity”, Li stressed.

“It is like running a race - we can’t realistically map out its entire path in advance, and more often than not, we have to define its boundaries while we’re already in motion.”

Chinese woman raised in rescue centre for 9 years attends prestigious graduate school

https://www.scmp.com/news/people-culture/social-welfare/article/3319338/chinese-woman-raised-rescue-centre-9-years-attends-prestigious-graduate-school?utm_source=rss_feed
A Chinese woman, who grew up in a rescue centre, received an admission letter to a prestigious graduate school, expressing her heartfelt gratitude towards her unique family of social workers. Photo: SCMP composite/sbc.usst.edu.cn/shobserver

A young Chinese woman, who grew up at a rescue centre, received an admission letter to a prestigious graduate school, expressing her gratitude to her unique family of social workers.

The 23-year-old, known by the nickname Liang, has lived at the Yangpu District rescue centre in Shanghai for nine years. After her father passed away from illness when she was five and her mother went missing, she was placed in the centre.

Initially, an elderly couple served as her foster family, but they had to terminate their agreement in 2015 due to personal issues, leading to Liang’s return to the rescue centre for children in need.

The social workers at the centre treated Liang as if she were their own daughter. However, Liang faced challenges as she lacked a hukou, a residency permit necessary for accessing higher education in Shanghai, because she was born out of wedlock.

Liang, now 23, has lived at the Yangpu District rescue centre in Shanghai for nine years, following the death of her father and the disappearance of her mother. Photo: shobserver.com

Until recently, children born to unmarried parents were prohibited from being registered with a hukou in China.

Li Fuqiang, the former head of the centre, played a crucial role in helping Liang prepare her documents and obtain a hukou, allowing her to enrol in a senior secondary school. The staff in the rescue centre’s canteen ensured Liang received nutritious meals, while centre drivers transported her to school, consciously keeping their distance to avoid embarrassing her in front of classmates unaware of her background.

The social workers became like siblings to her, with some assisting with her studies and others accompanying her on shopping trips. The centre also supported Liang in applying for allowances, and worked with her to create budget plans, helping her save for university.

The social workers became akin to siblings for her, with some supporting her studies while others accompanied her on shopping trips. Photo: shobserver.com

In 2020, Liang gained admission to a biomedical engineering programme at the Shanghai Institute of Health Sciences. During school terms, she lived in the school’s dormitory, returning to the rescue centre for holidays.

This summer, she received acceptance into the graduate programme at the University of Shanghai for Science and Technology, where she expressed heartfelt gratitude to the social workers who had become her family.

“I am the daughter of the rescue centre,” Liang stated.

Ge, a staff member from the centre, shared his excitement, likening it to seeing his own child achieve academic success. Liang also expressed special appreciation for the centre’s former head, Li, who was like a father figure to her before passing away from cancer in 2018.

Liang expressed profound appreciation for the centre’s former head, who served as a father figure to her before passing away from cancer in 2018. Photo: shobserver.com

Looking ahead, she aspires to become a public servant, inspired by the social workers who nurtured her. “I’m not ambitious,” she said. “I can’t claim I’ll make great contributions to society, but I want to be useful.”

The rescue centre announced that it had applied for an allowance to support Liang’s tuition and living expenses during her graduate studies.

“It’s remarkable that social services can cater not only to a child’s basic needs but also to their dreams,” commented one observer online.

“It’s encouraging to witness a child who has received social support grow into a respectable adult,” added another.



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Africa looks to China as ‘beneficial partner’ while US imposes tariffs, aid and visa cuts

https://www.scmp.com/news/china/diplomacy/article/3319585/africa-looks-china-beneficial-partner-while-us-imposes-tariffs-aid-and-visa-cuts?utm_source=rss_feed
Africa favours China as relationship with US deteriorates due to disturbing pattern that ‘inflicts harm but expects loyalty’. Photo: Getty Images

The United States is losing ground to China for influence in Africa, according to analysts, as Beijing’s expansive trade policies and economic engagement outpace Washington’s increasingly restrictive approach.

The assessment came after China announced last month it would expand duty-free access for all taxable products for 53 African countries – all except Eswatini. Beijing’s move stands in stark contrast to Washington’s levying of trade tariffs, aid cuts and restrictive visa measures.

The policy comes amid US threats to cut foreign aid by closing down USAID and imposing visa restrictions on countries including Cameroon, Ethiopia, Ghana, Nigeria and Somalia. From August 1, the US also plans to impose higher reciprocal tariffs on imports from nations such as Algeria, Libya, South Africa and Tunisia.

Observers said the duty-free plan was a major narrative win for China. The move is likely to further endear Beijing to African nations, which are increasingly viewing China as a more reliable and beneficial partner.

Cameron Hudson, a former US official and senior associate with the Africa programme at the Centre for Strategic and International Studies in Washington, said what was more troubling was that Washington had long believed its aid and humanitarian help to Africa would buy it the goodwill to be able to pursue whatever policies it wanted, no matter the consequences.

But this had not been the case for a long time, he noted.

“Washington has largely lost the propaganda battle with Beijing in Africa and has failed to adequately explain itself to generations of Africans,” Hudson said.

He said Trump’s recent actions on tariffs, immigration and aid might be painful, “but Africans are not against resetting the relationship with Washington”.

“They would prefer Washington play a neutral role than one that both inflicts harm and expects loyalty,” Hudson said.

In contrast, Beijing has been consistent in its commitment to Africa.

China’s relationship with Africa is favourable. Photo: Shutterstock Images

“Even when Beijing is advancing its political or economic ambitions in Africa, it has done so with its messaging so as to portray its efforts as mutually beneficial,” Hudson added.

At last month’s US-Africa Business Summit in Luanda, Angola, the American delegation championed a shift from aid to trade via its Commercial Diplomacy Strategy. However, African governments – through the chair of the African Union Commission – voiced “grave concerns”.

These centred on proposed reciprocal tariffs and impending US visa bans, measures that have since led to reduced non-immigrant visa validity for several African nations, according to the Africa programme at the Carnegie Endowment for International Peace.

“It is therefore not surprising that China now ranks higher than the US in African public opinion,” said Zainab Usman, director of the Carnegie Africa programme.

Citing Afrobarometer data about economic and political influence, the Washington-based think tank said 60 per cent of Africans viewed China’s influence positively, compared to 53 per cent for the US and 49 per cent for the European Union.

The Carnegie Africa programme also noted that these perceptions had shifted since 2020, with ratings rising by one percentage point for China and a five-point drop for the US.

However, the Carnegie Africa chart showed that both China and the US saw an increase in negative perception during the same period, with China recording a three-point rise from 15 per cent in 2020 to 18 per cent in 2025, driven mostly by debt concerns.

Meanwhile, the US experienced a seven-point jump in negative perception from 13 per cent in 2020 to 20 per cent in 2025, fuelled by perceived meddling in domestic affairs.

Hudson said that Africans viewed the US, regardless of whether it was governed by Democrats or Republicans, as largely disinterested, unreliable and highly demanding.

“Washington has a tendency to see itself and its motivations in Africa as entirely altruistic and beneficial to the continent, but rarely does it reflect on how it comes across, or the unintended consequences of its actions,” he said.

Hudson explained that some of the most bothersome aspects for Africans were those Washington had seemingly failed to even recognise. These include its control of international financial institutions and global bodies such as the United Nations (UN), which have routinely harmed African economies and their people while advancing Washington’s priorities.

X.N. Iraki, an associate professor in business and management sciences at the University of Nairobi, said China’s appeal was driven by visibility. He explained that China had numerous visible projects such as roads, highways, ports and buildings, which made its influence easy for citizens to see and “feel”.

“Western influence is more soft-democracy; rule of law, education and health. These are felt at an individual level,” Iraki said.

He added that the Chinese media had also made inroads into the Kenyan mind.

“Traders also visit China. More Africans now know the real China and can make their own judgments,” he noted.

Iraki stated the withdrawal of US aid and rising tariffs were also significant factors in lowering US favourability.

“The Western benevolence is losing its magical touch. Right from tips in hotels to foreign aid and grants, the West has always been seen as generous and kind,” Iraki said.

He added that many Africans perceived the US as closing its doors to outsiders. “Remember deportations? Africans could be closing their hearts to the US,” Iraki suggested.

China’s quant hedge funds stock up on talent – at US expense – to fuel expansion, AI use

https://www.scmp.com/business/banking-finance/article/3319534/chinas-quant-hedge-funds-stock-talent-us-expense-fuel-expansion-ai-use?utm_source=rss_feed
Illustration: Henry Wong

Yuan Yu, founder of Shanghai-based quantitative hedge fund Mingshi, recognised an opportunity when several intern prospects studying in the US said they were struggling to complete their PhDs amid university funding cuts and stricter visa policies under President Donald Trump.

“They told us that their supervisor’s funding had been cut, so they couldn’t continue their studies,” said Yuan, whose investment firm manages US$2.5 billion in assets. “They felt lost and didn’t know what to do. This prompted us to consider extending our internship offers to full-time job offers.”

By seizing the chance to snap up the candidates, Mingshi echoed a larger trend in China’s rapidly evolving quant hedge fund sector. The US upheaval in academia – and the government’s antipathy towards foreign students – is helping such funds secure the brain power that they will need to harness China’s breakthroughs in artificial intelligence (AI) and fuel their expansion beyond the domestic market.

Companies like Mingshi often compete against local rivals and larger, more established global giants for the world’s top scientists and engineers, many of whom would have stayed in the US in the past.

“We are hungry for top talent,” Yuan said. “In the past two to three years, we have been offering salaries that are higher than some of the top US firms.”

The sector has been growing rapidly. The yuan-denominated market is now the world’s second largest, with a combined capitalisation of more than US$11 trillion, feeding demand for financial products aimed at wealth preservation or hedging.

Quant products managed by domestic hedge fund firms totalled 837 billion yuan (US$117 billion) at the end of 2024, with 768 billion yuan invested in stocks, according to Citic Securities. Such products from mutual-fund firms, mostly index-reinforcing offerings, held 295 billion yuan, it said.

Quant investing uses advanced mathematical modelling, computer systems and data analysis to calculate the optimal probability of executing profitable trades. It is different from traditional investment approaches like value or trend investing, in which decisions are more subjective and based on human judgement.

China has a vast pool of talent abroad. During the 2023-2024 academic year, more than 277,000 Chinese students were enrolled in US universities, accounting for 24.5 per cent of the 1.13 million international students, according to the annual Open Doors report from the Institute of International Education (IIE) and the US State Department. Chinese students made up 16 per cent of about 820,000 graduate students in science, technology, engineering and mathematics in the US, the report said.

At the height of tensions with Beijing, Trump revoked Chinese students’ visas and stepped up scrutiny of applications from mainland China and Hong Kong as part of a tighter immigration policy stance.

“This presents a valuable opportunity for us,” Yuan said, adding that his firm aimed to be in the top tier in China and Asia. “Also, as a Chinese company, we feel a sense of social responsibility to help share this burden.”

In June, Mingshi launched a recruitment initiative called Lighthouse Calling to offer full-time jobs and internships to students whose studies abroad were disrupted by the changing US policies.

“Whenever you briefly lose your way, there’s always a lighthouse to guide you towards a new path,” materials related to the programme said. “In the face of global academic changes and uncertainty, we light a beacon of hope for outstanding individuals like you.”

Students proceed through Harvard Yard during commencement ceremonies at Harvard University on May 29, 2025, in Cambridge, Massachusetts. Photo: AP

Yuan – a graduate of a US university – founded Mingshi in 2010. As one of the top players in the industry, the firm has been expanding overseas since 2020, opening an office in Hong Kong to serve foreign clients in the US, Japan, South Korea and the Middle East who are interested in investing in China’s stock market.

Another quant firm luring overseas talent is Shanghai QuantPi Investment, which has many employees from top universities in the US, UK and other countries.

“For Chinese people, the living environment at home feels more familiar and there is a stronger sense of cultural identity,” said CEO Sun Lin. “In my view, this is also one of the greatest advantages that China’s quantitative investment industry has over its international peers – we have the largest talent pool in the world.”

China’s ascent in AI, symbolised by the rise of DeepSeek earlier this year, has given a push to the quant investment industry and increased demand for tech talent, as more firms look to integrate the latest AI innovations into their investment infrastructure.

Jack Liu, a trader at a Shanghai-based quant hedge fund firm focused on financial and commodity futures trading, uses AI to help him filter through information and news headlines that can facilitate trading, though his trading strategies and executions are still based on human decisions.

Xufunds Investment Management deploys AI to create models for a bottom-up stock picking strategy, according to Wang Chen, a partner at the Shanghai-based money manager. His AI-powered model generates scores for the stocks in the pool for reference after analysing factors such as corporate earnings, management integrity and market sentiment.

Ken Chung, CEO of Goku Singapore, who said his firm started to incorporate AI into workflows in 2018, hailed DeepSeek’s development as a “game changer”.

“The development of Deep Seek gives us access to [AI technologies] which are completely different,” he said. “It greatly expands the potential use of AI in our investment process.”

Yuan Yu, founder of Shanghai-based quantitative hedge fund Mingshi. Photo: Handout

Meanwhile, a Beijing crackdown on quant investing is making the sector’s biggest players to look overseas for new opportunities.

High-frequency trading took some blame from the stock-market watchdog and individual investors for a two-year market downturn, prompting China’s three bourses to issue specific rules this year to rein in the practice. They pledged more oversight of unusual swings caused by high-frequency trading and levied more fees on such trades.

High-frequency trades make up about 30 per cent of stock transactions in China’s markets, compared with 50 per cent in some developed markets, according to the China Securities Regulatory Commission. China’s bourse rules define high-frequency trading as placing or retracting more than 20,000 orders by a single investor per day, or at least 300 orders per second.

About 5 per cent of Goku’s more than US$2 billion in assets under investment comes from outside mainland China, and the firm set up its first overseas office in Singapore to serve international clients and to trade in other markets, according to Chung. The company received its Singapore licence in January.

China’s huge market represented a significant proportion of the world’s equity-market liquidity, which presented the firm with an opportunity to become the DE Shaw or Two Sigma of Asia, he said, referring to two prominent hedge funds known for quantitative investing.

“Any firm that has any chance of becoming a world-class quant born out of Asia needs to come out of A shares,” he said, referring to yuan-denominated shares traded on mainland exchanges. “Without it, it’s impossible, because China is so big. It’s the biggest market in Asia.”

Goku now has five employees in Singapore. It had not specifically targeted Chinese graduates from US universities, but was “definitely open to it”, Chung said.

In the near term, Goku may consider an office in Hong Kong. “If we have talents that prefer Hong Kong over Shanghai or Singapore, then we will open an office there,” he said. The company started to trade H shares – Hong Kong-listed shares of Chinese companies – in May.

Twenty-five Chinese quant hedge funds have obtained asset-management licences in Hong Kong, according to Simuwang, a Shenzhen-based data provider.

Still, the hiring boom was limited to the industry’s biggest players for now, according to Liu, the trader at the Shanghai-based quant hedge fund firm. Smaller ones were still focused on boosting their asset sizes, he said.

“The normal practice for the big firms is to set up branches in Hong Kong or Singapore that will be used to trade US stocks and futures, Japanese or Singaporean stocks, or futures on the London Metal Exchange,” he said. “But the development is only at the very initial stage, and I haven’t heard that any of these firms has already had success in the overseas businesses.”

A degree-holder in electronics who returned from the US in 2014, Liu joined the quant hedge fund industry after working at internet companies for two years.

“It’s now easier for domestic firms to compete for talent, particularly graduates or professionals overseas, given the China-US situation,” he said. “Lots of people have returned to China and taken up jobs in the domestic quant investment industry. Some firms may not need people urgently at the moment, but they take advantage of the opportunity to reserve talents for business expansion in the future.”

Demand for quant investment products has been on the rise in China in recent years to cater to different types of investors, as actively managed funds from mutual-fund firms have gradually lost clout because of erratic performance, according to Xufunds Investment’s Wang.

“The competition for active fund products is pretty intense now, and the performance varies significantly,” he said. “Therefore, we’ve seen the rise of quant products that are typically stripped of the subjective factors and based on big data analysis. China’s markets have lots of liquidity, and that’s conducive to the development of quant investments.”

For Liu, the return of overseas talent is a good thing for the sector.

“They can definitely help to close the gap between China and the US in the quant-investment area with their expertise and knowledge,” he said. “That will be a boost to the industry.”

Why are urban Chinese like my friend falling for guoxue scams?

https://www.scmp.com/opinion/china-opinion/article/3316672/why-are-urban-chinese-my-friend-falling-guoxue-scams?utm_source=rss_feed
People young and old pray at Yonghe Temple in Beijing on January 1. After three decades of modernisation, many urban Chinese are spiritually adrift, restless and unsure of where to anchor their values in a fast-changing world. Photo: EPA-EFE

It all began with a WeChat message from my friend. We hadn’t seen each other in a while. She had left Beijing for a quieter, more remote town and her social media updates suggested she was diving deeper into – “national studies”, or the study of traditional Chinese culture – Buddhist philosophy and other spiritual pursuits. Her text read: “You should join our reading group. We’re studying classical Chinese texts. You will definitely love it.”

She had been going through a rough patch: burnout at work, a deep sense of disorientation. I admired her for trying to connect with something deeper. Out of curiosity and genuine concern, I agreed to join. But a sense of unease gnawed at me. The trend of guoxue, framed as a path to enlightenment, had always unsettled me. Something about it seemed too commercialised and packaged.

In my first video session with the reading group, we were told to introduce ourselves. An older woman who seemed to hold a position of authority spoke last. “It’s so good to see young people here,” she said. “These days, no one reads any more. But you all – you have the time. Life is more than just drinking and eating.”

Her words carried a quiet disdain, as if fundamental human joys were distractions from something greater. As if nourishing the body, sharing meals, enjoying small pleasures – things that ground us in the world – were lesser pursuits.

After two more sessions, I couldn’t continue. What pushed me over the edge was a new requirement: we were to record ourselves reading the founder’s book out loud and submit these recordings for review. No discussion. No questions. Just repetition. Supposedly, this would deepen our understanding – though how exactly, no one explained.

As a philosophy major trained in the Western tradition, I found this deeply frustrating. The purpose of engaging with a text should be to analyse, question and discuss its ideas. But here, those very acts were forbidden. I told my friend I wanted to leave. She said she needed to check with her superior first. That response alone spoke volumes.

Children read the Analects of Confucius at the Temple of Confucius in Qufu, Shandong province in 2023. Guoxue, or Chinese national studies, concentrates on ancient texts and classical poetry. Photo: Xinhua

She then passed on a message from the older woman: “Your body is filled with knowledge, but not wisdom.” I was livid. The implication was clear: my refusal to conform wasn’t a matter of reasoned disagreement – it was a spiritual failing. I responded, explaining why I found their methods absurd, why I rejected this supposed learning and why I believed critical thinking was essential.

My friend ignored my messages. I left but kept an eye on the so-called reading group which, over the next few months, fell apart as members dropped out. Perhaps they too saw how ridiculous the group was. My friend posted on social media how saddened she was. Soon afterwards, I noticed a shift in her posts.

She started promoting seminars – two- to three-day workshops by this organisation, costing around 8,000 yuan (US$1,120) per session. Attendees had to pay extra for food, accommodation and travel. These events took place every few months and my friend attended every single one. I never asked her about this directly; the distance between us had grown too wide.

Then there was the founder, a confident-looking man in his 40s or 50s positioned as the intellectual and spiritual centre of it all. He had written several books, the first few self-published. He drew from classical Chinese and Buddhist texts, yoga philosophy and Hinduism, merging them into what he claimed was a new, revolutionary system of thought. According to him, modernisation and Westernisation had poisoned China’s intellectual and spiritual development.

In hundreds of hours of free-to-access video, he delivered monologues on “life science philosophy”, a term he coined to distinguish his teachings from traditional Chinese thought and Western philosophy, which he outright rejected. He promoted himself as a moderniser of classical Chinese wisdom, offering a system purportedly more authentic and effective for navigating life.

I’ve tried to reach my friend. I’ve sent her articles about the warning signs of cults – how they isolate followers, create strict in-group language and demand unquestioning devotion. “This is different,” she insists. “You don’t understand.”

What I do understand is that this is part of a subtle, undeniable shift taking place in China, especially among the educated urban middle class. After three decades of economic transformation and modernisation, many are spiritually adrift, restless and unsure of where to anchor their values in a fast-changing world. This phenomenon isn’t unique to China – in countries such as Japan and South Korea, there is also a growing sense that the promises of modernity are hollow.

The so-called revival of guoxue was never not about an intellectual or spiritual renaissance. But it has been commodified, packaged in familiar symbols of Chineseness – robes, incense, ancient texts – and stripped of complexity and contradictions. It is little more than a cultural refuge, a way to claim something authentic and meaningful in a world where old certainties have collapsed but new solutions seem inadequate.

The search is desperate, and that desperation makes people vulnerable to systems that promise healing but demand submission. Many are not looking for wisdom, only for a place to belong to.

I haven’t spoken to my friend in a long time. Maybe we never will. But I keep watching, wondering if one day she’ll see what I see – before it’s all too late.

China airport lounge criticised for demanding proof of assets worth US$2.8 million for entry

https://www.scmp.com/news/people-culture/trending-china/article/3319335/china-airport-lounge-criticised-demanding-proof-assets-worth-us28-million-entry?utm_source=rss_feed
An airport VIP lounge in China faced backlash for requiring proof of assets valued at US$2.8 million for entry. Photo: SCMP composite/Shutterstock

A VIP lounge at a Chinese airport has ignited considerable controversy after mandating proof of assets worth at least 20 million yuan (US$2.8 million) for entry, citing a desire to “ensure the quality of service.”

On July 17, a Chinese netizen shared online that, as a client of China Merchants Bank’s “Golden Sunflower” programme, she inquired about accessing the international First Class Lounge at Chengdu Tianfu International Airport in Sichuan province in southwestern China. She was informed that, in addition to using reward points, she would also need to provide proof of assets amounting to at least 20 million yuan.

The netizen explained that she had bought an economy class ticket but aspired to rest in the international First and Business Class Lounge at Terminal 1. She wrote: “I arrived at the airport early and searched online for available lounges. I noticed that Golden Sunflower clients could use them, and since I happen to be one, I called for clarification. But then I learned I needed to verify 20 million yuan in assets! Moreover, property and vehicles don’t count! Poverty really limits my imagination!”

Many banks commonly include airport lounge access as a benefit in their credit card and banking product redemption programmes to attract and retain clients. Photo: Shutterstock

She continued: “I’m baffled as to how they determined this 20 million yuan and 9 points threshold. Anyone with such wealth would likely just purchase a business-class ticket outright. Why would they bother redeeming points for lounge access?”

According to publicly available information, Golden Sunflower cards typically require an average monthly balance of at least 500,000 yuan (US$70,000) to open, with airport lounge access being a primary benefit promised to cardholders.

In response to the requirements, airport staff explained: “If you’ve bought a first or business class international ticket, you can access the lounge directly. If not, you can pay 600 yuan (US$85) for individual use. For China Merchants Bank cardholders, verifying assets over 20 million yuan is necessary. Lounge access is by reservation only, and cardholders must contact the issuing bank to verify eligibility and complete the booking process.”

Passengers flying in first or business class typically enjoy VIP lounge access, enhancing their overall travel experience. Photo: Shutterstock

China Merchants Bank later confirmed that this rule has been effective since June 2024.

A representative informed the Chongqing Morning Post: “To access the international First Class Lounge at Chengdu Tianfu International Airport, cardholders must redeem 9 points and verify that their average daily financial assets total at least 20 million yuan. This requirement is currently unique to Tianfu Airport due to high passenger traffic and lounge overcapacity, which led to an adjustment aimed at maintaining service quality.”

Zhang Xuequan, executive director of Fujian Shansheng Law Firm, remarked that from a consumer rights standpoint, the bank’s action may have transgressed various legal boundaries.

“Elevating the threshold from 500,000 yuan to 20 million yuan – a 40-fold increase – and disregarding tangible assets like vehicles and properties while only acknowledging financial assets is evidently excessive. For customers who previously satisfied the original criteria, this change effectively robs them of their legitimate rights under unfair terms,” he stated.

Flying has become a common mode of transport for both work and leisure, leading to an increased popularity of airport lounges among frequent travellers. Photo: Shutterstock

The decision has stunned many and provoked significant debate online.

One comment read: “They’re employing this as a filter due to overcrowding in the lounge. If it remains congested, they might raise the requirement to 50 million yuan next.”

Another noted: “This is the consequence of issuing Golden Sunflower cards too indiscriminately. They promoted VIP lounge access when we signed up, but now we endure asset checks? This severely damages the card’s reputation.”

Chinese eyeing US degrees turn more discerning – is the opportunity still worth the risk?

https://www.scmp.com/economy/china-economy/article/3319556/chinese-eyeing-us-degrees-turn-more-discerning-opportunity-still-worth-risk?utm_source=rss_feed
Illustration: Brian Wang

Jason Lin of Xiamen surprised his mother this year by applying to 10 undergraduate schools in the United States and receiving a US$15,000 annual scholarship from Brandeis University near Boston. There, he intends to earn a master’s degree in economics over the next five years.

But to his mother, it’s like he’s venturing into the wild, compounding the anxiety parents often feel when their adult children leave the nest.

She’s afraid of “instability” in the US. And Lin, 19, has concerns that even a traffic ticket could get him deported. But he weighed the pros and cons, laid it all on the table for his mother, and decided on Brandeis in time for the coming fall semester.

Despite a sharp increase in US-China tensions this year, Chinese students such as Lin are still pursuing American higher education much as they have in the past, but they are being more selective than before, according to applicants and university officials.

“Basically, the thought of going to the States came to me when I was in ninth grade,” Lin explained. He expects more academic freedom in the US than in other countries and recalls the “vibe” in New York when he visited as a tourist.

Well-known schools, highly ranked programmes associated with the majors of students’ choices, and flexible financial aid packages have become bigger draws.

And if the university campus is located in a relatively safe American city, it gets bonus points in the selection process among Chinese applicants.

“The US does have the pre-eminent global research universities, for now at least,” said Rory Truex, an assistant professor with Princeton University’s Department of Politics. “And many students are willing to take the risks to get access to that opportunity.”

Some public and private universities across the US are expecting the number of students from China during the 2025-2026 term to be comparable to enrolment figures over the past five years.

The University of New Mexico, a public school specialising in STEM and health-related disciplines, has 89 Chinese students on campus and expects 20 more this autumn, putting the total higher than at the same time last year or in 2023, according to campus communications director Steven Carr.

The university welcomed 21 new Chinese students last autumn, and 16 at the start of the 2023 academic year.

Chinese nationals appreciate that the school has affordable tuition; offers scholarships for undergraduates and graduate students; and features hands-on learning opportunities in graduate programmes, Carr said. He said the campus can sometimes offer “resources tailored to international students”.

US Secretary of State Marco Rubio said in May that the United States would start “aggressively” revoking visas issued to Chinese students and would “enhance scrutiny” of new applications.

The administration of US President Donald Trump was on track after its first 100 days to deport about half a million people this year, according to the Migration Policy Institute think tank. Singapore has been tipped to attract more Chinese students due to perceived instability in the US.

In June, Trump announced that the US would indeed allow Chinese students into American universities, as part of a wider deal with China.

However, many students and their parents were already on high alert over reports of students being denied visas, being detained at immigration checkpoints, or being shown hostility in America amid bilateral spats over trade and competing geopolitical ambitions.

A pivotal moment came in May, when the Department of Homeland Security took steps to restrict the entry of new international students and considered revoking existing visas for current Harvard students, citing national security.

But a federal judge blocked the government’s move to bar foreign students and scholars from entering the US to study or work at Harvard, and the Ivy League school made that clear on its website.

The University of California, San Francisco, admitted eight students from abroad for the upcoming academic year to its nationally ranked pharmacy graduate school, and five were Chinese nationals. One more was admitted from China but could not get a US visa.

Last year, just four out of the School of Pharmacy’s 127 students were from other countries. Applications from China, a perennial chief source of applicants, have shown no sign of slowing, said the school’s admissions director, Joel Gonzalez.

“For the most part … when you look at the number of international students, probably the majority of them are going to be from China,” Gonzales said at his office in a tower of classrooms and university-run medical wards up the hill from San Francisco’s Golden Gate Park and a city bus ride from Chinatown.

Reasons for their applications “could be the diversity of San Francisco versus somewhere in the [US] Midwest that might not be as inviting to a student in China”, he said.

“And we’re the top-ranked programme in California, so I can’t help but think that those variables come into play.”

It was another well-ranked programme, Human Computer Interaction, that drew Zhou Yubo to the University of Michigan for his graduate studies in August. Now he is just waiting to see whether he gets the necessary student visa, having already waited more than six weeks.

The 22-year-old, with a tech-related undergraduate degree and two previous stays in the US, said he believed the campus in Ann Arbor would be “a good place to study hard”, due to what he sees as a lack of entertainment options compared with other university towns.

Personal careers are now more important to US-bound Chinese students than visa issues or geopolitical pressures, said Perry Link, a comparative literature-Chinese professor at the University of California, Riverside.

“The graduate students, who are mostly in STEM fields, are interested in joining the international quest to advance scientific learning in universities or companies in the US,” Link said.

“Undergraduates are usually full-tuition-paying students from wealthy or fairly wealthy backgrounds in China,” he said.

“A lot of them study business or accounting and are looking for careers in the US or in family-affiliated firms back in China. They like to position themselves to do well in both systems – Chinese and American.”

Students transit between classes in the shadow of Drumheller Fountain and Mount Rainier at the University of Washington in Seattle, USA. File photo: The Seattle Times/TNS

Another Ivy League school, Cornell University, has similarly found little change this year from last, despite some Chinese students having a little trouble getting visas, said Wendy Wolford, vice-provost for international affairs. Cornell lets students without visas start their studies at one of Cornell’s three “top” partner schools in other countries, she said.

The California State University campus in the inland college town of Chico counts Chinese nationals as 3.5 per cent of the international student body, public relations director Andrew Staples said. The relatively small, crime-free city of 101,000 people is a selling point, he added.

Students from second- and third-tier Chinese cities may go for the state school’s relatively low tuition and living costs, compared with schools in bigger American urban areas, Staples said.

“Chico’s setting as a university town offers an accessible and immersive American college experience that appeals to students and families alike,” he said.

“While broader geopolitical and visa challenges remain part of the conversation, many students still view US education as a valuable investment, and [they view] Chico State as a supportive and reputable option within that landscape.”

But Professor Link’s university, located east of Los Angeles, has seen its expected Chinese student contingent shrink to 343 this year from 885 last year and 1,107 in the 2023-2024 year, according to a campus publicist.

“Their motivation has to do with the well-established reputation of US higher education,” vice-provost for international affairs Marko Princevac said.

“But indeed, nowadays there are many more opportunities, as the UK, EU and other countries are opening more and more for international students and are trying to take advantage of apparent US unwelcomeness,” Princevac said.

“They offer lower cost, apparently safer and more welcoming environments.”

The Trump administration’s efforts this year to restrict Chinese students’ access to US education have fanned doubts among Chinese families weighing where to send their university-age children.

And some families have responded by shifting their consideration to universities closer to home or elsewhere in the West, such as Canada. They also point to uncertainties in the American job market for Chinese nationals after graduation, such as whether the US would even grant them a work visa upon receiving a job offer.

According to the latest Open Doors report by the New York-based non-profit Institute of International Education, there were 277,398 Chinese students in the US during the 2023-2024 academic year, down 4 per cent from 289,526 over the 2022-2023 academic year.

The institute has not released data for the most recent academic year.