logo
China, US reduce majority of tariffs, KMT slams ‘denial of history': SCMP daily highlights

China, US reduce majority of tariffs, KMT slams ‘denial of history': SCMP daily highlights

Catch up on some of SCMP's biggest China stories of the day. If you would like to see more of our reporting, please consider
subscribing
China and the United States have agreed to remove the majority of tariffs imposed since April 2, a breakthrough following high-stakes talks that could help resolve a trade war that had raised import duties to unprecedented levels.
A thaw in relations between China and India is expected to be tested after Pakistan said it used a Chinese-made jet fighter to bring down Indian military aircraft, observers say.
System developed by teams from the Chinese Academy of Sciences' Institute of Atmospheric Physics and Computer Network Information Centre delivers unparalleled precision in modelling global ocean dynamics and climate patterns. Photo: Shutterstock
Chinese researchers have unveiled the world's most advanced ocean simulation system with a resolution of 1km (0.6 mile) – an unprecedented benchmark.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Citigroup to cut 3,500 tech support jobs in China to trim costs
Citigroup to cut 3,500 tech support jobs in China to trim costs

South China Morning Post

timean hour ago

  • South China Morning Post

Citigroup to cut 3,500 tech support jobs in China to trim costs

Citigroup is laying off 3,500 technology staff in mainland China as part of its global effort to streamline operations and reduce costs, while pledging its commitment to corporate and institutional clients in the world's second-largest economy. Advertisement The affected employees, who provide technology support for operations in the Asia-Pacific region, are based in Shanghai and Dalian in the northeastern province of Liaoning, according to a statement on Thursday. The cuts would be completed in the fourth quarter, it added. Some roles would be eliminated while others would be relocated and excess office space would be reduced, the bank said, adding that the separation packages were higher than the local industry average. The downsizing would not affect its Shanghai-based unit, which houses its core banking business, or its other service centre in Guangzhou. 'We are committed to our corporate and institutional clients in China and supporting their cross-border banking needs, as well as clients across our international network who do business there,' said Marc Luet, Citigroup's head of banking and Japan, Asia North and Australia. The bank supports a large number of leading companies, including 70 per cent of the Fortune 500 companies in China, he added. CEO Jane Fraser wants to simplify Citigroup's organisational structure to align with its business strategy. Photo: Dickson Lee Citigroup, the third-largest lender in the US, is still aiming to establish a fully owned securities and futures unit in China, Luet said, which seems to have been delayed by strained US-China ties.

Xiaomi founder and CEO Lei Jun stays on as honorary chairman at Chinese software firm
Xiaomi founder and CEO Lei Jun stays on as honorary chairman at Chinese software firm

South China Morning Post

timean hour ago

  • South China Morning Post

Xiaomi founder and CEO Lei Jun stays on as honorary chairman at Chinese software firm

Lei Jun – the 55-year-old Chinese entrepreneur transforming Xiaomi into a technology conglomerate covering smartphones, electric vehicles (EVs) and chips – will retain his seat as 'honorary chairman' at Beijing Kingsoft Office Software, suggesting that the founder remains committed to taking on multiple roles on the business front lines. In his honorary chairman role, Lei, the 'actual controller' of Kingsoft Office, will provide guidance on technology innovation, management and corporate culture, without drawing a salary, according to a filing by the Shanghai-listed company on Thursday. Shares of Kingsoft Office rose 0.7 per cent on Thursday morning. Lei's reappointment at Kingsoft Office – which is known for its WPS Office software , a popular local alternative to Microsoft Office – followed weeks of intense public scrutiny regarding the safety of Xiaomi's driving-assistance system. Then-Kingsoft Corporation CEO Lei Jun (right) with chairman Kau Pak-kwan during the company's listing debut in Hong Kong in 2007. Photo: Dickson Lee Last month, Lei said on his Weibo account that he was facing 'the hardest time' since founding Xiaomi in 2010, following a fatal crash involving the autonomous-driving feature of the company's SU7 vehicle, which resulted in three deaths in late March.

From NIH to SMART: senior biologist Lu Wei leaves US government post for China
From NIH to SMART: senior biologist Lu Wei leaves US government post for China

South China Morning Post

time2 hours ago

  • South China Morning Post

From NIH to SMART: senior biologist Lu Wei leaves US government post for China

Professor Lu Wei, a senior investigator at the US National Institutes of Health (NIH), is the latest Chinese academic to return home amid drastic funding cuts to university research grants by the Trump administration. He has taken up a full-time role with the Shenzhen Medical Academy of Research and Translation (SMART), as announced on the organisation's official social media account on June 3. SMART president Yan Ning reposted the announcement, commenting: '[Lu] officially agreed to come to Shenzhen long before President Donald Trump's second term. His research field is fascinating.' Lu has long focused on the neurobiological mechanisms of synaptic development and functional regulation, as well as the effects of anxiety, depression , anaesthesia and alcohol. Lu's relocation back to China significantly bolsters the ambitions of Shenzhen, an open economic special zone, to become a national centre for biomedical research. Lu graduated with a bachelor's degree in biochemistry from China's Sichuan University in 1997 and obtained a master's degree from Zhejiang University three years later.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store