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Shanghai Dairy

Midas Touch Triggers Gold Rush in Shanghai, Hong Kong

“点石成金”效应引发上海、香港淘金热

2026-01-29 浏览


Shanghai and Hong Kong residents are pouring into gold shops this week to buy the precious metal as the global price touched a record US$5,4000 an ounce on Wednesday, Reuters reported. The buyers are betting that gold prices will continue to rise, after a 65 percent surge in 2025. Gold is considered a safe harbor in times of uncertainty. On the flip side, some consumers are selling some of the gold they hold to cash in on high prices. French bank Societe Generale predicted this week that gold will hit US$6,000 by the end of this year.

Major gold retailers, including Lao Feng Xiang Jewelry, Lao Miao Gold and Chow Tai Fook, have raised their prices. Shanghai gold seller Zhao Jinhao, who works at a jewelry mall, told Reuters, "There are still quite a lot of people buying, and it's still heading upwards." In Hong Kong, Simon Littmann, the executive manager of Swiss Investors Corp, which trades in precious metals, said business this month is the best in 20 years. Central banks are also big buyers. Last year, the People's Bank of China reported additions of bullion to its reserves every month.

China is the world's biggest producer and consumer of gold. Shares in gold miners rose in trading on Wednesday. Zijin Mining, China's largest gold miner, surged 3.1 percent in Hong Kong.
 
来源: Shanghai Daily  



China Approves First Imports of Nvidia H200 Chips

中国批准首批英伟达 H200 芯片进口

2026-01-29 浏览


China has approved the first batch of imported Nvidia H200 AI chips, Reuters reported, citing two people familiar with the matter. The approval, which comes the same week as a visit to China by Nvidia Chief Executive Jensen Huang, covers 400,000 of Nvidia's second-most advanced chips to be delivered to Chinese internet giants ByteDance, Alibaba and Tencent. Each chip costs at least about US$30,000. The US late last year removed restrictions on exports of H200s to China despite reservations about sharing its advanced technology with China. There have been some concerns that China wouldn't welcome the chips, given its drive to develop self-reliance in chipmaking and end dependence on foreign suppliers.  
来源: Shanghai Daily  



US Federal Reserve Holds Rates Steady

美联储维持利率不变

2026-01-29 浏览


The US Federal Reserve held rates steady on Wednesday, defying President Donald Trump's consistent pressure to lower them. Fed Chairman Jerome Powell told reporters after the decision was announced that he remains committed to an independent central bank. Earlier this month he revealed that he is under investigation by the Justice Department related to a major renovation of Fed headquarters in Washington, calling the probe an effort to intimidate him. Powell, whose term as chairman ends in May, had this advice for his successor, "Stay out of elected politics."  
来源: Shanghai Daily  



UK Prime Minister Arrives in Beijing, Trade Tops the Agenda

英国首相抵达北京,贸易议题居于首位

2026-01-28 浏览


UK Prime Minister Keir Starmer begins a three-day visit to China today aimed at resetting bilateral trade ties. He will be seeking, like Canadian Prime Minister Mark Carnery in a trip to China a week earlier, to diversify from the US market, the nation's largest trading partner, amid tensions with the Trump administration. However, Starmer told Bloomberg News before he left London that it's not a matter of being forced to choose between the US or China, saying he will maintain close ties with the US on security and defense but "sticking your head in the sand and ignoring China ... wouldn't be sensible." The Chinese newspaper Global Times on Monday touted Beijing's credentials as a reliable trading partner because China advocates a free, multilateral trade system. China is Britain's fourth-largest trading partner, with bilateral trade last year valued at about US$141 billion. However, China accounts for only about 0.2 percent of direct foreign investment in the UK, a figure Starmer will be hoping to increase. He's the first British leader to visit the Chinese mainland in eight years.  
来源: Shanghai Daily  



Doomsday Clock Is Ticking, Anthropic Issues AI Warning

“末日时钟”正在倒计时,Anthropic 发出 AI 风险警告

2026-01-28 浏览


The so-called Doomsday Clock, created by the Bulletin of Atomic Scientists in 1947 amid global nuclear tensions, has been moved to 85 seconds to midnight this year – it's closest ever to the hour that represents the time when human activities make the Earth uninhabitable. "Humanity has not made sufficient progress on the existential risks that endanger us all," said Bulletin President Alexandra Bell. "Every second counts, and we are running out of time." She cited risks from nuclear weapons, climate change and "disruptive technologies."

Separately, Anthropic Chief Executive Dario Amodei, the architect behind the powerful AI large language model Claude, warned in an essay published this week that super-human intelligence poses a "real danger" that could cause damage to civilization if countermeasures aren't taken now. He wrote: "I believe we are entering a rite of passage, both turbulent and inevitable, which will test who we are as a species. Humanity is about to be handed almost unimaginable power, and it is deeply unclear whether our social, political and technological systems possess the maturity to wield it." Two years ago at a tech forum, he said he wasn't certain there are any limits to artificial intelligence.
 
来源: Shanghai Daily  



China Bans Dementia Drug Made by India's Sun Pharma

中国禁止印度太阳制药生产的一款痴呆症药物

2026-01-28 浏览


China's pharmaceutical regulator order a halt to the import and sale of a drug to treat dementia and Alzheimer's made by India's Sun Pharmaceutical Industries. The National Medical Products Administration said a recent inspection found shortcomings in the company's production and quality-management processes related to rivastigmine hydrogen tartrate capsules. The US Food and Drug Administration last year issued a warning related to the drug.  
来源: Shanghai Daily  



As Gold Surges, Zijin Expands Mining Assets

随着金价飙升,紫金矿业扩大矿产资产布局

2026-01-27 浏览


China's Zijin, one of the world's largest gold miners, said in a statement that it will buy Canada's Allied Gold for about C$5.5 billion (US$4 billion) in cash. The Chinese company has been ramping up its foreign portfolio of assets as the gold price continues to skyrocket. Longyuan-based Zijin said it will pay C$44 per share for Allied stock. Allied operates mines in Mali, the Ivory Coast and Ethiopia. Zijin currently holds mining assets across nine countries in Central Asia, Africa and South America. The company's primary focus is on gold and copper, with growing interests in lithium, zinc and other critical minerals. The company's shares in Hong Kong surged 44 percent on Monday. Zijin last year executed the largest initial public offering in the gold mining industry, raising HK$25 billion (US$3.2 billion).

The gold price powered past US$5,100 an ounce for the first time on Monday, with the spot price finally settling at about at US$5,086 in New York. Its price surged 65 percent last year and has risen more than 15 percent since the start of 2026. The rally comes as investors continue to seek shelter from geopolitical risks triggered by the US invasion of Venezuela, Washington threats to take over Greenland, strained trans-Atlantic relations and fiscal warning flags in Japan's economy. Silver also rallied to US$108 an ounce.
 
来源: Shanghai Daily  



Israel Retrieves Body of Final Gaza Hostage

以色列找回加沙最后一名人质的遗体

2026-01-27 浏览


The Israeli military said it recovered the remains of the final hostage in Gaza, completing part of last year's US peace deal with Hamas. It's not clear where the body of Ran Gvili was found. He was an Israeli police officer taken during the October 2023 Hamas attack on southern Israel. Observers say the return of all the hostages, living and dead, may pave the way for Israel to open the vital Rafah crossing on the Egyptian border, a major gateway for the flow of humanitarian aid.  
来源: Shanghai Daily  



China to Double Yuan Liquidity Facility in Hong Kong

中国将把香港人民币流动性支持规模扩大一倍

2026-01-27 浏览


People's Bank of China Deputy Governor Zou Lan told the 19th Asian Financial Forum in Hong Kong on Monday that China will double the volume of yuan liquidity available to banks in the city to enhance Hong Kong's global position as an offshore hub for the China's currency, the South China Morning Post reported. Zou said China will double liquidity to 200 billion yuan (US$28.7 billion) next week and issue more yuan-denominated sovereign bonds in the city to meet foreign demand for the currency. The yuan facility was launched last October.  
来源: Shanghai Daily  



China-Canada Trade Deal Sparks Trump Tariff Threat

中加贸易协议引发特朗普关税威胁

2026-01-26 浏览


US President Donald Trump threatened to impose a 100 percent tariff on all imports from Canada if Ottawa proceeds with a new trade deal with China that includes a reduction of duties on electric cars. Canadian Prime Minister Mark Carney responded by urging residents to "buy Canadian" amid a "threat from abroad." Carney got on Trump's wrong side – again – last week in a speech he gave at the Davos forum declaring the old world order irrevocably broken and urging mid-sized nations like Canada to band together to avoid being gobbled up by aggressive big powers. In turn, Trump rescinded his invitation to Canada to join his new "Board of Peace," though it wasn't clear that Carney had any intention of joining. The Canadian leader recently returned from a trip to China that strengthened bilateral trade ties.  
来源: Shanghai Daily  



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