‘Missed opportunity’: US soybean farmers question exclusion from China tariff cuts

South China Morning Post - Sep 28, 2026

US soybean farmers have described the exclusion of US soybeans from China’s import list under the newly announced Board of Trade mechanism as a “missed opportunity”, even as Beijing ramped up purchases of the crop ahead of last week’s summit between Chinese President Xi Jinping and US President Donald Trump. The trade forum, unveiled by both sides on Sunday, covered a range of US agricultural products for export to China, including meat, dairy, corn, wheat, sorghum and vegetable oils, but...

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Seoul, Kyiv at odds over secret deal on NK POW transfer

Seoul, Kyiv at odds over secret deal on NK POW transfer

South Korea and Ukraine are locked in an unusual diplomatic dispute over the transfer of two North Korean prisoners of war (POWs) to Seoul, with the two governments giving conflicting accounts of whether they had agreed to keep the move confidential. The dispute escalated, Sunday, as Cheong Wa Dae demanded an official explanation and apology from Kyiv, four days after Ukrainian President Volodymyr Zelenskyy unexpectedly disclosed the transfer during his address to the U.N. General Assembly in New York. Zelenskyy said Ukraine had “recently” sent two North Korean POWs to South Korea, about 20 months after their capture in Russia’s Kursk region. The two were among thousands of North Korean troops deployed to support Russia since 2024 in its war against Ukraine. They had expressed a desire to go to South Korea instead of being repatriated to the North. Seoul says the two sides agreed to keep the transfer confidential, while Kyiv says no such agreement existed. The conflicting claims began to emerge on Thursday, a day after Zelenskyy’s speech, when Lee took to social media to express d

GDP projected to grow 0.38% over 10 years following CPTPP membership

GDP projected to grow 0.38% over 10 years following CPTPP membership

Korea's economy is projected to grow by 0.38 percent over the 10 years following its potential membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the industry ministry said Monday. The government released the projection after conducting a comprehensive analysis of the potential impact of Korea's CPTPP membership on the macroeconomy, manufacturing and small and medium-sized enterprises (SMEs), as well as the agriculture, fisheries and forestry sectors, according to the Ministry of Trade, Industry and Resources (MOTIR). MOTIR, the Ministry of Agriculture, Food and Rural Affairs, the Ministry of Oceans and Fisheries, the Ministry of SMEs and Startups, and the Korea Forest Service, along with their affiliated research institutes, participated in the analysis. The latest estimate showed that Korea's gross domestic product (GDP) would be 0.38 percentage point higher, on a cumulative basis, over the first decade after its entry into the CPTPP than it would be if the country did not join the trade pact, the ministry said. By sector, the production im

Foreign ministry calls in Ukrainian envoy in response to Kyiv disclosing transfer of NK POWs

Foreign ministry calls in Ukrainian envoy in response to Kyiv disclosing transfer of NK POWs

The foreign ministry on Monday called in Andrii Vieshkin, acting ambassador of Ukraine to South Korea, following Kyiv's revelation of the transfer of two North Korean prisoners of war (POWs) to Seoul. First Vice Foreign Minister Park Yoon-joo conveyed Seoul's stern stance on the issue to Vieshkin, the ministry said in a statement. Last week, Ukrainian President Volodymyr Zelenskyy disclosed during a United Nations address that Ukraine sent the two North Korean soldiers captured last year to South Korea. President Lee Jae Myung and his office have since said Ukraine breached a nondisclosure agreement aimed at keeping the transfer a secret to safeguard the former soldiers from dangers they could face if their transfer were to be disclosed, citing international law and humanitarian principles. Soon after, Ukrainian media outlets reported a Ukrainian presidential source as denying the existence of a confidentiality agreement with Seoul. Park expressed strong concern over Ukraine's denial of the confidentiality agreement with Korea, saying such an action gravely damages mutual trust and affect

China targets AI and frontier tech in newly unveiled innovation blueprint

China targets AI and frontier tech in newly unveiled innovation blueprint

China’s top state research body has put artificial intelligence (AI) and other frontier technologies at the heart of its new five-year plan unveiled on Monday, as global competition in science and technology heats up. The Chinese Academy of Sciences, the country’s highest academic institution, laid out a detailed blueprint for research and technology development aligned with the national 15th five-year plan covering 2026 to 2030. The plan focuses on innovation in areas including AI and...

Xi Jinping demands ‘safer’ China as Communist Party prepares for leadership reshuffle

Xi Jinping demands ‘safer’ China as Communist Party prepares for leadership reshuffle

President Xi Jinping has ordered China’s security and legal apparatus to relentlessly eliminate risks and build a “safer” country a year ahead of the pivotal 21st Communist Party congress, which will usher in a major leadership reshuffle. The latest instruction, published by state news agency Xinhua on Monday night, is also the Chinese leader’s first major domestic directive since his state visit to Washington last week, signalling a pivot back to the domestic agenda – especially stability. In a...

Strong AI demand prompts Hong Kong trade body to raise export growth forecast

Strong AI demand prompts Hong Kong trade body to raise export growth forecast

Stronger-than-expected global demand for artificial intelligence-related products has prompted the Trade Development Council to sharply raise its full-year forecast for Hong Kong export growth in 2026 to as much as 47 per cent. The latest revision follows the council in June raising its midyear forecast to 20 per cent growth, from an earlier estimate of 8 to 9 per cent. Its latest survey of the city’s major exporters also found that their business confidence and market expectations had remained...

Hong Kong checkpoints to handle 7.44 million passenger trips for National Day break

Hong Kong checkpoints to handle 7.44 million passenger trips for National Day break

Hong Kong’s checkpoints are expected to handle about 7.44 million passenger trips over mainland China’s National Day “golden week” break, while people movements are anticipated to peak this weekend. The Immigration Department said on Monday that the figure would include inbound and outbound trips by Hongkongers and visitors travelling via the city’s sea, land and air control points between October 1 and 7. The department also said it anticipated that the most popular control points would be...

Hong Kong wage index rises 3.4% in June, with government expecting further gains

Hong Kong wage index rises 3.4% in June, with government expecting further gains

Average wages including allowances in Hong Kong rose by 3.4 per cent year on year in June, with the government forecasting further pay rises ahead on the back of sustained economic expansion and labour demand. Figures released on Monday by the Census and Statistics Department showed that the 3.4 per cent nominal wage rate rise was broad based across all surveyed industries. After adjusting for inflation using the consumer price index (A), the overall real wage rate grew by 1.6 per cent in June...

At least 21 Hong Kong-Bangkok flights delayed amid flooding in Thai capital

At least 21 Hong Kong-Bangkok flights delayed amid flooding in Thai capital

At least 21 flights connecting Hong Kong and Bangkok were disrupted on Sunday and Monday, with passengers on one service leaving the Thai capital facing a nearly 24-hour delay after the Southeast Asian city was hit by its worst flood in 15 years. Heavy rainfall lashed Bangkok – a top travel destination for Hongkongers – between Thursday and Monday, prompting Thai officials to declare the city a disaster zone. Despite the flight disruptions, Hongkongers in the Thai capital said the central...

Chinese commercial reactor achieves nuclear fusion with clean hydrogen-boron fuel

Chinese commercial reactor achieves nuclear fusion with clean hydrogen-boron fuel

In a first, a Chinese company has achieved high-parameter hydrogen-boron plasma control, marking a “significant and valuable” advance in research into neutron-free magnetic confinement fusion. ENN Group, based in Langfang, Hebei province, announced on Monday that its EXL-50U spherical device – a compact tokamak that uses a magnetic field to confine charged gas, or plasma, for nuclear fusion research – had successfully achieved hydrogen-boron fusion reactions. “This marks the first time a...

Hong Kong launches 1-month consultation on arbitration law reforms

Hong Kong launches 1-month consultation on arbitration law reforms

Hong Kong authorities have launched a one-month consultation on proposed reforms of arbitration laws, as part of efforts to enhance the city’s competitiveness as an international dispute resolution hub and advance an objective laid out in its first local five-year plan. The Department of Justice said on Monday that the one-month stakeholder consultation on amendments to the Arbitration Ordinance, which governs the use of the alternative dispute resolution mechanism, would cover four key areas to...

China is no longer just the world’s factory. It’s the HQ

China is no longer just the world’s factory. It’s the HQ

The global electronics industry is entering a structural transition. For over two decades, China served as the dominant manufacturing centre, with an unmatched concentration of suppliers, skilled labour, infrastructure, logistics and engineering capabilities. That concentration is being diluted. But interpreting this as the decline of Chinese manufacturing would be a mistake. China is exporting parts of its manufacturing process while retaining the industrial capabilities that matter...

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