UAE prince and Hong Kong, Xi’s policy shift, Singapore ‘Asia’s happiest country’ again: SCMP’s 7 highlights of the week
We have selected seven stories from this week’s news across Hong Kong, mainland China, the wider Asia region and beyond that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing.
1. Chinese scientists send aircraft carrier catapult technology soaring
An unprecedented electromagnetic catapult system for China’s future aircraft carriers has been developed by a team of scientists and engineers in Beijing. With a working principle similar to the technology used in electric vehicles, the system could slash the cost of the carrier-based aircraft catapult while boosting performance and reliability.
2. Dubai prince abruptly postpones opening US$500 million Hong Kong family office
A Dubai prince who made waves after announcing plans to set up a new family office in Hong Kong with a US$500 million investment pledge abruptly postponed its opening scheduled for Thursday.
3. In rare monetary policy shift, Xi tells China central bank to buy treasury bonds
With the world’s second-largest economy at a critical juncture of fuelling growth in its bid to become a global financial superpower, a new book details some of Xi Jinping’s thoughts on finance, dating back to late 2012. “The People’s Bank of China must gradually increase the trading of treasury bonds in its open market operations,” the snippet reads in Excerpts of Xi Jinping’s Speeches on Finance Work.
4. China and US battle fiercely on yet another tech front: patent applications
According to 2023 UN data, Chinese inventors led in international patent applications for the second year running, posting some 14,000 more than the second-place US, as the two giants increasingly face off over technology, innovation and global bragging rights.
5. ‘It’s subjective’: is Singapore really Asia’s happiest country?
While the latest edition of an annual UN-sponsored report found Singapore to be Asia’s happiest country for the second year in a row, its survey data showed that the city state’s younger citizens rated their quality of life significantly worse than older generations.
6. Hong Kong officials sorry for national anthem blunder at triathlon event
Organisers of Sunday’s Triathlon World Cup in Hong Kong have apologised after the wrong national anthem was played during the women’s medal ceremony.
7. Millionaire boss of famous China snack brand hides wealth from son for 20 years
The son of the owner of a well-known snack brand in China said he did not know his family was wealthy until he graduated from university, a story that has stunned mainland social media.
