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SCMP

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.
1. China cuts US Treasury stockpiles to the lowest level since 2009
China trimmed its US Treasury holdings for a third straight month in May, amid escalating trade tensions with Washington and mounting concerns over a sweeping tax and spending bill.
2. Fentanyl likely on US-China trade agenda after long absence: analysts
The trafficking of materials to make the drug fentanyl – the issue cited by the US in its initial tariff escalation against China in March – is set to be back in focus for future talks, analysts said, after two previous rounds did not appear to broach the subject.
3. China’s influential marketisation index declines, sparking calls for reforms

Chinese economists have called for more pro-market reforms to tackle economic imbalances and vicious intra-industry competition, as a new report has revealed a decline in a major index tracking the country’s marketisation.
4. US House committee chair warns Panama about Chinese influence over Panama Canal
The head of a US congressional committee on Thursday, warned Panama over Chinese influence on the Panama Canal, following reports that leading Chinese state-owned conglomerates are bidding for port concessions there now for sale by Hong Kong-based CK Hutchison Holdings.
5. How a fire beetle inspired Chinese infrared tech that could aid defence

After spending years studying advanced infrared sensors, a group of Chinese researchers has produced a device that could be used to build a surveillance network more powerful and effective than the proposed US missile defence system known as the “Golden Dome”.
6. China unveils new drone that takes off and lands on its tail like a rocket
China has unveiled a tail-sitter drone – which takes off and lands on its tail like a rocket – during a disaster rescue drill, according to state media.
7. Chinese farmer turns inventor with homemade 7-metre submarine

On a quiet river in central China’s Anhui province, villagers in Hanshan county stopped to stare as a sleek black shape sliced through the water with a low mechanical growl. It was not a military test or an industrial prototype. It was a home-made submarine – designed, built, and piloted by Zhang Shengwu, a 60-year-old farmer with no engineering degree and no blueprint to follow.


China builds world’s first ‘coal battery’, war on Alzheimer’s: 7 science highlights

UAE’s Opec exit, why Japan shared Mogami warship design with India: 7 Asia highlights

Cheaper durians for China, Hong Kong helpers camp in tents: 5 weekend reads you missed

King Charles’ gift amuses Chinese, anti-spy agency makes allegation: SCMP’s 7 highlights

SCMP Highlights

China trims US Treasury stockpiles again, Panama Canal warning: SCMP daily highlights

Chinese yuan and US dollar banknotes. Photo: AFP

China’s overall marketisation index, a measure of the strength of the country’s market forces, is on the decline. Photo: Xinhua

The fire beetle, which is equipped with a specialised organ allowing the insect to detect faint infrared radiation from hundreds of kilometres away, has inspired Chinese technology that experts say could see applications in missile defence. Photo: Shutterstock

Chinese farmer Zhang Shengwu pilots his homemade submarine in a river in Hanshan county, in China’s eastern Anhui province. He built his own “Big Black Fish” -- a homemade submarine that stay underwater for 30 minutes at a time. Photo: AFP

South China Sea: China warns students to beware safety risks in Philippines

China’s Ministry of Education has warned students to assess the safety risk of studying in the Philippines. Photo: Shutterstock

Brazil triples rare earth exports to China as Washington-Beijing rift ripples through trade

Chinese Premier Li Qiang and Brazilian President Luiz Inacio Lula da Silva after a meeting ahead of the Brics summit in Rio de Janeiro on July 5. Trade between the two countries grew in the first half of 2025, with Chinese imports growing 22 per cent. Photo: AFP 

A rare earths mine in Ganxian County in central China’s Jiangxi province. Photo: Chinatopix via AP

News

China

From Beijing shedding more US debt to the unveiling of a vertical take-off drone, here’s a round-up from today’s coverage


From Beijing shedding more US debt to the unveiling of a vertical take-off drone, here’s a round-up from today’s coverage.


United States

Panama

Zhang Shengwu

China-Latin America relations

China trims US Treasury stockpiles again, Panama Canal warning: SCMP daily highlights

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}From Beijing shedding more US debt to the unveiling of a vertical take-off drone, here’s a round-up from today’s coverage

1. China cuts US Treasury stockpiles to the lowest level since 2009

From Beijing shedding more US debt to the unveiling of a vertical take-off drone, here’s a round-up from today’s coverage