Debt honoured: China repays family who lent entire 850-kg grain supply to wartime army in 1947

A wartime grain loan certificate discovered within an old family home in eastern China has been donated to local authorities nearly eight decades later, illuminating a villager’s remarkable faith in the troops.

In 1947, a major People’s Liberation Army (PLA) unit entered the Dabie Mountains, which stretch across the borders of three provinces in central China, during a counteroffensive against Kuomintang forces. The harsh conditions on the battlefield had left the troops desperately short of food and other essential supplies.

According to Dawan News

Mao Zedong on horseback in Shaanxi province during the Chinese Civil War in 1947. Photo: Sovfoto/Universal Images Group via Getty Images

Why has the China-US profit gap widened on the Fortune Global 500?

China’s multinationals are falling behind their US peers in profits, despite recording strong revenue. Photo: SOPA Images/LightRocket via Getty Images

China’s unaddressed economic structural problems are swallowing profits and leaving its multinationals falling far behind their US peers in the latest Fortune Global 500 list, despite its firms remaining strong in terms of revenue.
The profit gap between Chinese and US companies has continued to widen. Chinese companies posted an average profit of US$4.5 billion in 202

Authorities arrest 14 in crackdown on unlicensed hawkers, seize 600kg of food

Hong Kong’s hygiene authorities have arrested 14 people during a citywide crackdown on unlicensed hawkers and seized 600kg (1,320lbs) of food, some of which was expired.

Food and Environmental Hygiene Department Chief Health Inspector Chan Sze-man, responsible for hawkers, said on Wednesday that the suspects, aged 38 to 76, were arrested in various districts between July 17 and 28.

All of the suspects held Hong Kong identity cards.

She emphasised that the department

Food and hawking equipment seized during the operation. Photo: SCMP

China’s hi-tech boom pushes firms to boost pay in 2027 as keeping talent a priority

Employers in China anticipate a slightly higher median salary increase next year as they push to retain top-tier talent despite financial pressures following a soft 2026, according to data published by a global advisory.

Companies were budgeting for a median increase of 4.5 per cent in 2027, following 4.3 per cent growth in 2026 and 4.5 per cent in 2025, the advisory and broking firm WTW said in a new report.

Even so, the


Chinese AI start-up Moonshot seeks influential ambassadors to widen Kimi’s global reach

China’s Moonshot AI, whose recently released Kimi K3 model stunned with performance close to American frontier systems, is seeking ambassadors to elevate its global influence.

The Beijing-based start-up on Tuesday launched the “Kimi Ambassador Program”, aimed at “passionate Kimi users to build up communities and the future of AI”, according to its website.

The move comes as Moonshot seeks to turn the growing attention around Kimi K3 into broader adoption among developers and creators.

Unlike traditional software products, AI models


‘Practical’ young Africans leaning towards China over US and away from ideology

China has overtaken the United States in terms of positive perceptions among young Africans, though Washington is still seen as more influential than Beijing, according to a survey published on Wednesday.

The African Youth Survey polled 4,901 respondents aged 18 to 24 and split equally between males and females, in 16 of Africa’s 54 countries, asking them which foreign powers had influence on their country.

The report said 81 per cent agreed that the US was influential, while 79 per cent


Why is Zhongji unveiling US$1.2 billion in buy-backs before its Hong Kong debut?

A general view of Exchange Square in Central on July 21. Photo: Jelly Tse

Zhang Shidong in Shanghai and Howard Liu in Beijing

Zhongji Innolight’s buy-back plan – worth as much as 8 billion yuan (US$1.2 billion) in the run-up to its offshore listing in Hong Kong – may give global investors an anchor for pricing, as the Chinese supplier of US hyperscalers seeks to pre-empt a shaky start

How South Korea can ease Brazilian concerns to unlock trade in South America

Brazilian President Luiz Inacio Lula da Silva (right) greets South Korean President Lee Jae Myung ahead of their meeting at the presidential office in Brasilia on Monday. Photo: Yonhap/dpa

If South Korea wants to unlock access to South American trade, it will need to prove it is not a competitor interested only in extracting natural resources but a trustworthy partner committed to revitalising manufacturing industries, according to observers.
On Monday, South Korean President Lee Jae Myung and Brazilian President Luiz Inacio Lula da Silva agreed to revive negotiations on a free-trade agreement between South Korea and Mercosur, the South American trade bloc.
A joint working group
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China should lean into its defining AI advantage – accessibility

People walk past Qwen’s booth during the 2026 Mobile World Congress in Barcelona, Spain, on March 2. Chinese open-weight models accounted for 41 per cent of downloads on Hugging Face in the year to February 2026, compared with 36.5 per cent for American models. Photo: Xinhua

Dr Shaoshan Liu is director of embodied AI at the Shenzhen Institute of Artificial Intelligence and Robotics for Society (AIRS).

China’s emerging advantage in artificial intelligence (AI) is not that it already has the world’s best chips or strongest frontier models. It is that Chinese companies are increasingly providing capable intelligence at a price the global market can afford.

AI is fast becoming everyday infrastructure. It is metered by usage and embedded in


Advanced technologies now account for 1 in 6 valid invention patents in China

A patent application service desk at the China (Shanghai) International Technology Fair in 2021. Photo: VCG via Getty Images

Advanced technologies now account for around one in every six valid invention patents in China, according to official data.

By the end of last month, valid invention patents in fields such as artificial intelligence , cloud computing and big data made up 16.5 per cent of the country’s total valid patents, the China National Intellectual Property Administration said on Wednesday.

“The accelerated accumulation of patents in cutting-edge sectors is empowering and enhancing