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Shanghai Dairy

China Successfully Launches Reusable Spacecraft

中国成功发射可重复使用航天器

2026-02-09 浏览


China successfully launched into orbit an experimental reusable spacecraft aboard a Long March-2F carrier rocket on Saturday, Xinhua news agency reported. Reusable craft have become a key focus in aerospace development because they reduce costs and lessen relaunch timetables. It was China's fourth launch of a reusable spacecraft since 2020. Currently, only China and the US have reusable spacecraft. The latest Chinese spacecraft, dubbed "Divine Dragon" by mainland space aficionados, is a potential rival to the US X-37B. Xinhua, calling the launch an "important breakthrough, said the craft is designed to provide technical support for "the peaceful use of outer space." The US and China are also in a race to develop reusable rockets for use in launches of orbital constellations of communications satellites and internet data centers.  
来源: Shanghai Daily  



Japan's Prime Minister Wins in Election Landslide

日本首相在选举中大胜

2026-02-09 浏览


Prime Minister Sanae Takaichi's Liberal Democrat Party is projected to have won Sunday's snap parliamentary election by a landslide, according to public broadcaster NHK. Exit polls showed her party taking two-thirds of seats in the lower house, giving Japan's first female prime minister a strong mandate just four months after she took office. The big win is attributed to her personal popularity and a flamboyant style unlike predecessors. Sanae espouses bigger government spending, lower taxes and a stronger military.  
来源: Shanghai Daily  



Chery Revives QQ With Electric Hatchback

奇瑞以电动两厢车形式重启 QQ 品牌

2026-02-09 浏览


China's Chery Automobile has revived its iconic QQ brand, unveiling the all-new QQ3 electric hatchback as it looks to strengthen its position in the crowded small-car market. The QQ3 offers a driving range of 280 kilometers to 401 kilometers. Pre-orders have opened, with deliveries scheduled for late March, the company said. First launched in 2003, the original Chery QQ became one of China's best-known entry-level cars, selling more than 1.5 million units globally before production ended in 2014. Chery said the new QQ3 focuses on electrification and smart driving features, and fills a gap in the carmaker's lineup.  
来源: Shanghai Daily  



Russian-US Nuclear Arms Treaty Expires

俄美核武器条约到期

2026-02-06 浏览


The Russian-US nuclear arms control treaty signed in 2010 expired on Thursday, raising concerns about a renewed arms race. The treaty capped the number of nuclear warheads for each side to 1,550 and established some transparency, including on-site inspections. Although Russia suspended the treaty three years ago as tensions grew over the Ukraine war, both countries were still thought to be abiding by the agreement, the BBC reported. Russia and the US did agree to re-establish high-level communications channels suspended after Russia attacked Ukraine.

Russia and the US control more than 80 percent of the world's stockpile of nuclear warheads. UN Secretary-General António Guterres urged both countries to sign a new nuclear deal at what he called a "grave moment for international peace and security." Dmitry Medvedev, the former Russian president who signed the treaty, said this week that its lapse should "alarm everyone." A senior adviser to Russian President Vladimir Putin said the Kremlin would "act in a measured manner and responsibly." China's foreign ministry said the onus is on Washington to avert an unconstrained arms race. US President Donald Trump last month told the New York Times: "If it expires, it expires… We'll just do a better agreement." The US is known to want China as a signatory to any new agreement, and Moscow has long argued it should include nuclear powers France and Britain.
 
来源: Shanghai Daily  



Tech Selloff Sweeps Through Global Markets

科技股抛售席卷全球市场

2026-02-06 浏览


A global selloff of AI-related technology stocks, precious metals and cryptocurrencies swept from Asia across to Europe and New York on Thursday. In Hong Kong, the Hang Seng Tech Index, dominated by mainland Chinese firms, briefly fell into bear territory with a 20 percent drop since October, but managed a late day recovery to close up 0.7 percent. "Tech just got hit with a different kind of sell-off," Stephen Innes, managing partner at SPI Asset Management, said in a note cited by the South China Morning Post. "Not the usual rates tantrum, not a recession whisper, not even an earnings miss in the classic sense. This was the market staring into an AI mirror and recoiling at its reflection." The larger question weighing on tech stocks globally is whether the selloff is just an inevitable correction after strong rallies last year or whether it's an indication of something fundamentally deeper.

Broader markets in Asia pared steep intraday losses on Thursday amid hopes the selloff would end as Western markets opened. The Hang Seng ended flat, and the benchmark Shanghai Composite Index was down 0.6 percent. Seoul's Kospi index led regional declines, plunging almost 4 percent, led by chip heavyweights Samsung Electronics and SK Hynix. Japan's Nikkei lost 1 percent.

In the China tech sector, Alibaba was down 0.3 percent after losing as much as 2.4 percent, and Contemporary Amperex Technology (CATL), the world's largest maker of batteries for electric cars, lost 2 percent. Shanghai-based Semiconductor Manufacturing lost 1.9 percent, chipmaker Cambricon fell 1 percent, and rival MetaX slid 2.6 percent.

In New York overnight, the tech-heavy Nasdaq dropped 1.6 percent, capping the worse three-day performance in almost 10 months. An exchange-traded fund tracking the software industry was down 5 percent, its eighth straight loss. Bitcoin, a bellwether on investor sentiment toward AI technology, plunged 14 percent. Gold fell 3 percent, and silver lost 16 percent. In Europe, the Stoxx600 slid 1 percent.
 
来源: Shanghai Daily  



Macau Hotel Sells Gold-Paved Entrance

澳门酒店出售铺金入口

2026-02-06 浏览


The operator of Macau's Grand Emperor Hotel has sold 79 kilograms of gold bricks that paved the hotel's entrance for more than two decades, cashing in on high gold prices. Parent Emperor International Entertainment Hotels said in a Hong Kong stock exchange filing that the gold was sold for HK$99.7 million (US$12.8 million), booking a gain of about HK$90.2 million. The buyer was Heraeus Metals Hong Kong, part of Germany's Heraeus Group. The gold entryway was installed on the lobby floor to create a "sumptuous" atmosphere" for the former casino, which ceased operations last October 30 following regulatory changes.  
来源: Shanghai Daily  



China Calls Panama Canal Ruling 'Absurd," Fate of Ports Uncertain

中国称巴拿马运河裁决“荒谬”,港口前景不明

2026-02-05 浏览


China called the recent Panama court ruling nullifying CK Hutchinson's licenses to operate two ports on the Panama Canal "absurd" and warned there could be consequences. The foreign ministry said "it's clear who is trying to monopolize the canal," adding that China will "take all necessary measures to safeguard the legitimate rights and interests of Chinese companies." Hong Kong-based CK Hutchison said its Panama Ports unit has initiated international arbitration proceedings against Panama, though the case could take years to resolve, Reuters reported. The court ruling is part of a complex tug-of-war between China and the US over control of the Panama Canal, a vital shipping artery. President Donald Trump said last year the US wants to reclaim full control over the canal and end Chinese influence there. CK Hutchinson included the two ports – located at either end of the canal – in a mega-deal to sell its interests in 43 global ports to US private equity firm BlackRock and Italy's Mediterranean Shipping Co for US$23 billion. Beijing, which must approve the deal, insisted its state-owned shipping company Cosco be a stakeholder in the deal. Who will operate the ports now is uncertain.  
来源: Shanghai Daily  



AI Concerns Cause Further Retreat in Share Prices

对 AI 的担忧导致股价进一步回落

2026-02-05 浏览


Technology shares suffered a second day of losses in New York on Wednesday, with the tech-heavy Nasdaq down 1.5 percent after a 1.4 percent drop a day earlier. Bitcoin, considered a bellwether of investor sentiment on AI development, lost nearly 4 percent. Software stocks have come under pressure as investors worry about the huge demand that artificial intelligence large language models place on chip makers. A shortage of memory chips is already hitting smartphone production hard. Concerns have also resurfaced about the astronomical sums of money, often borrowed, are being plowed into AI development, with near-term returns uncertain.

The MSCI global software and services index has dropped 13 percent in five days. "We are not yet at the point where AI agents will destroy software companies," Ben Barringer, head of technology research at Quilter Cheviot, told Reuters. "But during times of volatility, people often shoot first and ask questions later."
 
来源: Shanghai Daily  



Tencent Faces Spring Festival Discord in Its Own Backyard

腾讯在“自家后院”遭遇春节分歧风波

2026-02-05 浏览


Tencent's battle with Alibaba and Baidu to woo consumers to their AI apps with big cash giveaways for the Chinese Lunar New Year holiday period hit a snag when two of its own subsidiaries got into a battle of their own. Tencent announced it was splashing out 1 billion yuan (US$144 million) in digital "red packets" of cash through its AI chatbot Yuanbao and the rewards could be boosted if shared on its WeChat social media platform. But the heavy ad tactics and online traffic riled some WeChat users, causing the platform to announce that it's restricting the direct digital link from Yuanbao.  
来源: Shanghai Daily  



US Shoots Down Iranian Drone Ahead of Nuclear Talks

在核谈判前夕,美国击落一架伊朗无人机

2026-02-04 浏览


A US aircraft carrier shot down an Iranian drone that it said "aggressively approached" off Iran's southern coast in the Arabian Sea on Tuesday, just days before US-Iranian nuclear talks are scheduled. In a separate incident on Tuesday two Iranian gunboats approached a US-flagged chemical tanker in the Strait of Hormuz and threatened to board and seize the ship. The US Central Command said no one was injured and no equipment damaged in either incident. Global oil prices rose, with benchmark Brent crude up 2.6 percent to US$68 a barrel.

Friday talks were scheduled to be held in Istanbul, but Iran is now demanding they be held in Oman and that the scope of the negotiations be narrowed to nuclear issues and not include US proposals to limit Iranian ballistic missile production. The US wants Iran to end its nuclear weapons development, but Tehran insists its nuclear program is for peaceful purposes only. The talks would be the first since President Donald Trump moved a military strike force close to Iran last month amid threats of an attack if no nuclear deal is reached.
 
来源: Shanghai Daily  



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