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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK government’s decision to seize control of British Steel from Chinese owner Jingye has led to demands for greater scrutiny of China’s investments in the country. But unpicking decades of spending by Beijing and Chinese businesses across the British economy would be difficult: more than $100bn of Chinese investment has flowed into the country since 2000, according to figures from the Rhodium Group, a research outfit. Around a third…

Stay informed with free updates Simply sign up to the Chinese business & finance myFT Digest — delivered directly to your inbox. Ecommerce giants Alibaba, JD.com and Pinduoduo are leading Chinese internet groups in launching multibillion-dollar initiatives to help traditional exporters switch to domestic sales, as part of a national campaign to cushion the country’s economy from an escalating trade war with the US.  Alibaba has set up a task force to source goods from exporters in more than 10 provinces across China. Taobao and Tmall, its ecommerce marketplaces, have…

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The Trump administration will begin imposing fees on Chinese-built ships docking in US ports as it tries to spur US shipbuilding, in a move likely to escalate trade tensions between Washington and Beijing. The US presented plans in a filing late on Thursday to phase in steep charges on Chinese-owned or built ships carrying cargo to US ports over several years. The fees are part of an effort…

A Chinese satellite company linked to the country’s military is supplying Iran-backed Houthi rebels in Yemen with imagery to target US warships and international vessels in the Red Sea, according to American officials. Donald Trump’s administration has repeatedly warned Beijing that Chang Guang Satellite Technology, a commercial group with ties to the People’s Liberation Army, is providing the Houthis with the intelligence, according to the US officials. “The United States has raised our concerns privately numerous times to the Chinese government on Chang Guang Satellite Technology Co Ltd’s role in…

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world The chair of the House China panel has urged JPMorgan Chase and Bank of America to halt work on the Hong Kong listing of Chinese battery maker CATL, in a further escalation of Washington’s bid to pressure Beijing. John Moolenaar, the Republican lawmaker who heads the China panel in the US House of Representatives, made the request in separate letters to JPMorgan’s chief Jamie Dimon and BofA’s CEO…

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Six months ago, the chipmaker Nvidia epitomised what investors liked about the American economy: it had sky-high profits, impressive innovation, and a charismatic — leather jacket-clad — founder, Jensen Huang. Now, however, the company has inadvertently become a symbol of the business nightmares being unleashed by US President Donald Trump. On Wednesday, Nvidia warned of a looming $5.5bn earnings hit from new US export restrictions on the sales of…

US business executive Kinu Kelly came to the 137th China Import and Export Fair in Guangzhou this week with one goal: to find Chinese suppliers who could make the goods she needs outside the country. “Now, it’s imperative,” said the product development head from New York. “No exceptions.” Kelly’s eagerness to diversify her supply chains is one way attendees at China’s largest and oldest trade show — known as the Canton Fair — are adapting to a new reality for global commerce after US President Donald Trump raised levies on most Chinese…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US miner central to America’s efforts to build a domestic rare earths supply chain has halted shipments of its concentrates to China after being caught in the trade war between the two countries. Las Vegas-based MP Materials has emerged as the US’s best hope for overcoming China’s stranglehold on output of rare earths, a group of minerals vital in a swath of high-tech industries. Its New York-listed shares have…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chinese tea company Chagee surged on its Wall Street debut on Thursday, defying concerns about weak investor demand for new US listings and the intensifying trade war between the world’s two largest economies. Shares in the Shanghai-based chain, which specialises in coffee-style drinks such as “teaspressos” and oolong “teapuccinos”, rose as much as 49 per cent on its first day of trading on Nasdaq. The shares retreated during the afternoon…

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Some of Britain’s most secure military sites are restricting access to electric cars over concerns that Chinese technology embedded within the vehicles could be used for spying. Staff at RAF Wyton — an air base in Cambridgeshire that houses intelligence operations — have been told to avoid parking EVs near the base in case sensors on the vehicles can be remotely monitored, according to Ministry of Defence officials. The site…