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China plans compute futures in Shanghai as AI...

News - South China Morning Post ·

2026/06/03

China is preparing to launch compute futures in Shanghai, signalling a push to link financial markets to computing power as the global AI boom drives new demand for digital infrastructure. The Shanghai municipal government has released guidelines stating the new financial derivative would form part of efforts to turn the city into a global wealth management hub. It is the first time Shanghai’s authorities have explicitly mentioned compute futures in an official document. “In light of the

Chinese AI lets everyday users command quantum...

News - South China Morning Post ·

2026/06/03

Quantum computing has long carried an aura of exclusivity, cloaked in dense academic papers and ultra-cold laboratory systems understood by only a small circle of physicists and mathematicians. However, a Chinese start-up has changed quantum computing into something closer to an AI chatbot. On May 15, Shanghai-based Youshu Quantum Technology unveiled what it described as the world’s first agent-driven quantum computing platform. UnitaryLab 2.0 is designed to allow users to operate quantum...

EU and China set for Paris talks this week as trade...

News - South China Morning Post ·

2026/06/03

EU trade chief Maros Sefcovic will meet China’s international trade envoy, Li Chenggang, in Paris on Thursday, as the sides look to defuse tensions that have pushed them to the brink of a trade war. The officials will meet on the sidelines of an Organisation for Economic Co-operation and Development (OECD) ministerial meeting, setting the stage for a month of intensified engagement ahead of Commerce Minister Wang Wentao’s visit to Brussels on June 28 and 29, according to people familiar with

From fried chicken to flight plans: Alibaba wants...

News - South China Morning Post ·

2026/06/03

In its latest bid to dominate China’s next-generation digital gateway, Alibaba Group Holding is opening its Qwen AI assistant to major brands, allowing users to order everything from fried chicken to bubble tea through simple conversation. The company announced on Wednesday that it was opening Qwen’s ecosystem to third-party partners’ agents. Fast-food giant KFC, tech-driven coffee chain Luckin Coffee, beverage chain Mixue Group and China Eastern Airlines are among the first companies to test...

Hong Kong principal fired for swearing at security...

News - South China Morning Post ·

2026/06/03

A Hong Kong school principal has been fired after he swore at security guards during a student trip to Singapore last month, the institution has announced. The management committee of San Wui Commercial Society Secondary School in Tuen Mun announced on Wednesday the immediate dismissal of principal Lee Cheuk-hing and its refusal to accept his resignation, submitted about a week after the confrontation. The committee received Lee’s resignation letter on May 28, with his requested last day to

How Japan and the Philippines are building a maritime...

News - South China Morning Post ·

2026/06/03

Japan and the Philippines are deepening defence and maritime cooperation over shared concerns about China, with broad implications that analysts say reach beyond the South China Sea. Following Philippine President Ferdinand Marcos Jnr’s state visit to Tokyo last week, the two sides agreed to launch formal talks on military intelligence sharing and maritime boundary delimitation, while elevating ties to a comprehensive strategic partnership. Beijing responded strongly, denouncing the boundary...

Parents seek spots with popular schools despite...

News - South China Morning Post ·

2026/06/03

Many Hong Kong parents still sought places at popular primary schools for their children despite a record high of 86 per cent of pupils being allocated to institutions they preferred. A day after the Education Bureau sent premature SMS notifications about the allocations – which listed the correct school choices but the wrong calendar year – some principals and parents said the rare blunder had limited impact on the post-allocation process. Some parents said they even had a little extra time

Universities in Hong Kong and Kazakhstan deepen ties...

News - South China Morning Post ·

2026/06/03

Two universities in Hong Kong have signed partnership agreements with a leading varsity in Kazakhstan, with the city leader saying the moves will help deepen academic collaboration and strengthen social bonds. The Education University of Hong Kong and Polytechnic University signed separate memorandums of understanding (MOUs) with Nazarbayev University on Wednesday to boost cross-border research and student exchanges. The signings were witnessed by Chief Executive John Lee Ka-chiu, who is

China’s PL-15 missile has downed Rafale jets. Is the...

News - South China Morning Post ·

2026/06/03

China’s latest air-to-air missile, the PL-16, could have a range of more than 300km (186 miles) thanks to a variable-thrust rocket motor, according to an unverified image being circulated online. It comes weeks after the first image emerged of the US Air Force’s new AIM-260 air-to-air missile – a joint advanced tactical missile with a range of at least 193km (120 miles). It is not clear when the AIM-260 will enter service, but US officials have cited China’s PL-15 missile as a key driver for

Why Chinese culture fears plucking white hair and...

News - South China Morning Post ·

2026/06/03

When individuals are troubled by their greying hair, some may find plucking it to be the easiest solution. However, many Chinese people hesitate to do so for a specific reason. A prevalent folk belief suggests that plucking one white hair will lead to three more white strands growing in its place. Some even go as far as claiming that 10 white hairs will sprout after plucking just one. Medical experts have clarified that this notion is purely a superstition. Yang Dingquan, a trichologist at

Denmark PM presents new government, with majority of...

News - South China Morning Post ·

2026/06/03

Denmark’s Prime Minister Mette Frederiksen on Wednesday presented her new cabinet, which for the first time in Danish history included more women than men. Following months of talks after inconclusive elections in March, incumbent Frederiksen said on Monday she had managed to form a minority government between her Social Democrats, the Socialist People’s Party, the centre-left Radikale Venstre and the centrist Moderates. On Wednesday, Frederiksen announced the names of the new ministers. “It

How a couple lost their 3 children in as many...

News - South China Morning Post ·

2026/06/03

A Hong Kong couple has drawn public scrutiny after refusing a DNA test for their baby’s registration following his birth at home, raising potential gaps in the city’s legal and child welfare system. The infant’s father, Tsang Wai-bong, and mother, Kwan Pui-sin, subsequently underwent a DNA test, according to the police on Wednesday, a day after their arrest on suspicion of child neglect. The Social Welfare Department also applied to the court for a protection order over the two-month-old

What does Beijing’s response to Tokyo-Manila boundary...

News - South China Morning Post ·

2026/06/03

The mainland Chinese coastguard’s first independent law enforcement patrol east of Taiwan on Monday – in response to the maritime border talks between Japan and the Philippines – marked an expansion of its patrolled area beyond the traditional focus. Since its launch in 2021, the China Coast Guard (CCG) has routinely patrolled in the South China Sea, East China Sea and Yellow Sea. In recent years, apart from routine patrols around a few Taiwan-controlled islands, the CCG has also joined the...

DeepSeek nears US$7b haul in first-ever funding...

News - South China Morning Post ·

2026/06/03

Chinese artificial intelligence start-up DeepSeek is finalising its first external fundraising round, securing over 50 billion yuan (US$7.4 billion) at a valuation of just under US$60 billion, according to people familiar with the matter – marking a six-fold leap from its US$10 billion valuation in April. The blockbuster round highlights intensifying global competition and a shifting strategy for the AI breakout star, which had previously resisted external capital. Market-oriented investors

China among top gold buyers as bullion overtakes US...

News - South China Morning Post ·

2026/06/03

China is one of the world’s largest buyers of gold as central banks shift towards the precious metal, which has overtaken US Treasuries to become the world’s top reserve asset amid higher valuations and its appeal as a geopolitical hedge, the European Central Bank said. The world’s second-largest economy was the fourth-largest per-country buyer of gold in 2025 after Poland, Kazakhstan and Brazil, purchasing about 25 tonnes, the ECB stated. It estimated that China had bought more than 350

Tesla’s China sales surge to 2026 high, but rivals...

News - South China Morning Post ·

2026/06/03

Tesla’s Shanghai Gigafactory recorded its strongest monthly deliveries of the year in May as a broader recovery in China’s electric vehicle market gathered pace, although the US carmaker is likely to face intensifying competition from domestic rivals launching a wave of new models. The factory in Shanghai’s Lingang free-trade zone delivered 85,982 Model 3 and Model Y vehicles last month, up 39.4 per cent from a year earlier and 8.2 per cent from April, according to Tesla China. The figure...

In China’s coal country, party chief called to...

News - South China Morning Post ·

2026/06/03

Disciplinary authorities in central China are investigating a county-level Communist Party chief following a coal mine gas blast that killed 82 people and left two missing. Zhao Yongjin, party secretary of Qinyuan county in Changzhi, was “suspected of serious violations of discipline and law”, the Shanxi provincial discipline inspection and supervisory commission, an anti-corruption watchdog, said on Tuesday night. The blast at the Liushenyu Coal Mine on May 22 was China’s deadliest mine...

More Hong Kong airlines cancel flights as Typhoon...

News - South China Morning Post ·

2026/06/03

More Hong Kong carriers including Cathay Pacific Airways and Hong Kong Airlines cancelled or rescheduled flights to Japan on Wednesday as Typhoon Jangmi headed towards Tokyo. Cathay, the city’s flag carrier, cancelled six scheduled flights between Hong Kong and Japan, affecting routes to and from Tokyo, Osaka and Nagoya on Wednesday. The airline said it had notified all affected customers and rebooked them onto alternative flights, waiving all rebooking and re-routing fees. “We are closely...

Chip prodigy returns to China, coal waste used for...

News - South China Morning Post ·

2026/06/03

We have put together stories from our coverage on science from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. Chinese archaeologist who discovered 5,000-year-old city pleads guilty to corruption Liu Bin, a Chinese archaeologist credited with discovering a vast 5,000-year-old prehistoric city that rewrote the history of Chinese civilisation, has pleaded guilty to taking bribes and embezzlement. 2. Chip prodigy Da Bo...

Ukraine drones target St Petersburg as ‘Russia’s...

News - South China Morning Post ·

2026/06/03

Ukrainian drones hit energy and military sites in St Petersburg early Wednesday morning as officials gathered for a flagship economic forum in the city, Russian and Ukrainian authorities said. Some 20,000 guests from 130 countries are set to attend the three-day annual St Petersburg International Economic Forum (SPIEF) – an event once dubbed “Russia’s Davos” – which starts on Wednesday. The Kremlin vowed to respond to the strikes, which came a day after a barrage of Russian missiles and

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