China targets panda bond reform, mandates global credit mapping to lure foreign capital

Chinese regulators are looking to improve the quality of credit ratings for yuan-denominated assets known as panda bonds. Photo: CFOTO/Future Publishing via Getty Images

Chinese regulators moved on Tuesday to improve the quality of credit ratings for panda bonds – a yuan-denominated asset class that has seen a surge in interest from foreign sovereign and institutional investors this year as a key tool to bolster Beijing’s yuan-internationalisation push.

Credit-rating agencies must adhere to the principles of independence, objectivity and prudence, according to a circular posted to the website of the National Association of Financial Market Institutional Investors.


US levels AI sanctions threat as China models gain

US Treasury Secretary Scott Bessent signalled potential action against open source artificial intelligence (AI) models amid accusations that Chinese developers are creating low-cost systems using stolen US intellectual property.“This administration supports open source models, but what we do not support is IP theft,” Bessent said on Fox Business on Tuesday. “If we see, especially, that overseas models are stealing from our great companies, we have the ability to sanction them.”Watermarks from...

Myanmar and Laos plan downstream Mekong’s biggest dam yet

The Mekong as seen from the intersection of Laos, Myanmar and Thailand. Photo: Rivers and Rights

At the remote, mountainous frontier where the mighty Mekong carves the border between Myanmar and Laos , planners have sketched the outline of a mega dam.

It would be the largest hydropower project ever built on the river’s mainstream outside China, but analysts suspect the study into it may matter more than the dam itself.

A 34-month joint feasibility study for the 2,790-megawatt project was agreed on July 4 during
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Hugging Face deploys Zhipu’s GLM 5.2 model to contain autonomous OpenAI cyberattack

A flagship model from China’s Zhipu AI has helped contain an autonomous cyberattack by OpenAI’s frontier systems targeting popular developer platform Hugging Face, as concerns grow over the security risks posed by advanced AI models.

OpenAI’s latest flagship models – including GPT-5.6 Sol and an unreleased, “even more capable” system – recently breached Hugging Face’s infrastructure during internal evaluations of their offensive cyber capabilities, the US lab disclosed on Wednesday.

The company said its models were operating in a sandboxed environment

Why China’s low-cost business model resists reform

Firefighters work at the scene of a footwear factory fire in Jinjiang, Fujian province, on July 9. Photo: Xinhua News Agency via AP

Li Qiang is the founder and executive director of China Labour Watch and a human rights advocate with over 30 years of experience investigating global supply chains.

On July 9, a fire burned through a shoe factory in Jinjiang, Fujian province, killing at least 28 people. The accident signals a larger problem: firms operating under financial pressure often cut costs by compromising safety.

China’s low-cost business model needs reform, but why


Hongkonger, 19, guilty of posting seditious graffiti in commercial complex toilet

West Kowloon Court rejected a psychiatrist’s opinion that a mental disorder prevented Leung Kai-lok from understanding the offensive words he used. Photo: Jelly Tse

A 19-year-old in Hong Kong has been convicted of sedition for writing anti-government graffiti in a commercial building toilet, violating the city’s domestic national security law.

West Kowloon Court on Wednesday rejected a defence psychiatrist’s opinion that a congenital mental disorder prevented Leung Kai-lok from understanding the offensive words he used against the government and


Owner of Michelin-starred restaurant in South Korea faces jail for ant-topped sorbet

Prosecutors demand prison term and fine for serving unapproved imported insects to diners

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Under South Korean law, only 10 insect species are approved for human consumption, excluding black ants. Photo: Shutterstock

The owner of a South Korean Michelin-starred restaurant is facing one year in jail for garnishing a palate-cleansing sorbet with black ants “to add a sour taste”, local media said.

Seoul prosecutors requested the prison term for the anonymous owner of the


Hong Kong, UAE hubs could act as global early warning system for pandemics: study

Targeted viral surveillance of transit passengers could speed global detection of new variants by about three days, a study has found. Photo: Sam Tsang
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BYD’s challenge to Porsche; why Chinese cars are struggling locally: 7 EV reads

From CATL shares forecast to grow 50 per cent to the effects of China’s EV tax break ending, here are seven EV stories you may have missed

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BYD is taking aim at the Porsche 911 Turbo S, presented here during a media preview ahead of the IAA Munich auto show in Germany on September 7, 2025. Photo: Reuters

We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more

Chinese robot maker AgiBot pursues Hong Kong IPO, hiring 3 sponsors: sources

An AgiBot A2 humanoid robot learns to pick green leaves of Longjing tea under staff training at the Longjing Tea Plantation in West Lake, Hangzhou, eastern Zhejiang province on May 21, 2026. Photo: Getty Images

Zoe SL Chan and Coco Feng in Guangdong

Fast-growing Chinese robot maker AgiBot is pursuing an initial public offering in Hong Kong and has hired Citic Securities as a sponsor, according to two people familiar with the matter.

Additionally, China International Capital Corporation (CICC) and Morgan Stanley have also been tapped as joint sponsors, one of the people said.

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