Daily Buzz: 12 November 2025

China a Role Model at COP Climate Summit

China has become something of a global role model for a greener economy at the Cop30 UN climate change summit in Brazil, following a new report showing that the nation's carbon dioxide emissions have been flat or falling for 18 months. China and the US are the world's two biggest emitters of the greenhouse gas. A report from the Centre for Research on Energy and Clean Air found China's emissions in the third quarter were unchanged from a year earlier on reductions in travel, cement and steel industries. The report, which also credited rapidly rising use of solar and wind power for the downward trend, said China is well ahead of schedule in meeting its targets for peak emissions by 2030 and net carbon neutrality by 2060.

André Corrêa do Lago, a Brazilian diplomat and president of Cop30, praised Chinese progress on green technologies but said one country alone cannot stave off a pending climate crisis. "China is coming up with solutions that are for everyone, not just China," he said, noting that that most of the world's rich countries have lost their enthusiasm for tackling the climate crisis.

Thailand Pauses Peace Pact with Cambodia

Thailand said it has suspended the peace agreement with Cambodia, which was signed last month in a ceremony presided over by US President Donald Trump, who claimed credit for what was marginal involvement in brokering the deal. The halt came after a landmine explosion at the border injured several Thai soldiers on Monday. A statement from the Thai armed forces said the pause will continue until "Cambodia clearly demonstrates that it will not be hostile." The peace accord came after a five-day border conflict in July that killed dozens of people.

India, Pakistan Capitals Hit by Deadly Explosions

Deadly explosions in the capitals of India and Pakistan within 24 hours of each other heightened concern of raised tensions in the often-fraught relations between the two South Asian neighbors. India is investigating the circumstances of a car bomb in New Delhi near the historic Red Fort that killed eight people on Monday. In Islamabad, officials are probing the cause of a Tuesday suicide bomb outside a court building, killing 12. Pakistan accusing India of sponsoring terrorism in the region without providing any evidence of its involvement.

Taiwan Braces for Typhoon Fung-Wong

Taiwan began evacuating thousands of residents in high-risk areas ahead of the arrival of Typhoon Fung-wong, which is on track to begin sweeping across the island today with sustained winds of up to 108 kilometers an hour and gusts of up to 137 kilometers an hour. The cyclone weakened from a super typhoon to a severe tropical storm after battering the Philippines, leaving 25 people dead, and is expected to bring torrential rain and trigger landfalls in mountainous areas.

Top Business

SoftBank Exits Nvidia Investment

Japan multinational investment giant SoftBank sold its entire stake in Nvidia last month for US$5.8 billion and part of its T-Mobile holding for US$9.2 billion. The sale of the Nvidia stake raised some concerns that the investment frenzy over artificial intelligence may have peaked. However, SoftBank is expected to divert its bankroll to other AI-related investments, including the US$500 billion Stargate project to expand US data-center capacity and a US$22 billion investment OpenAI, creator of ChatGPT. The disclosure of the stake sales came in SoftBank's Tuesday earnings report for its fiscal second quarter ended September 30, which showed net profit doubled to 2.5 trillion yen (US$16.6 billion).

In New York trading, the Dow Jones average surged to a record high on Tuesday and the tech-heavy Nasdaq fell as some investors rotated out of AI-related shares.

China Promotes Trusts to Spur Infrastructure

China's National Development and Reform Commission recommended 105 real estate investment trust (REIT) projects to the securities regulator, with 83 already listed, as the country accelerates efforts to fund infrastructure growth through capital markets. The approved REITs span 10 sectors, including toll roads, clean energy, logistics, industrial parks, data centers, rental housing and water conservation. Together they raised 207 billion yuan US$28.8 billion) and are expected to drive over 1 trillion yuan in new investments, the commission said.

Apple Delays Next Version of IPhone Air

Apple has scrubbed plans to release the next version of its new iPhone Air at the annual launch event in the autumn of 2026 amid weak sales, Reuters reported, citing US technology-oriented business site Information. The iPhone, a thinner, lighter version in the iPhone lineup, came with trade-offs in battery size and camera features. Its debut in China in October was delayed by regulatory snarls over approval for telecom operators to offer the e-sim card services required by the phone. Sales in China and elsewhere have reportedly been below expectations.

Xeonova Raises Millions for Fusion Research

China nuclear fusion startup Xeonova said it has raised hundreds of millions of yuan in a Pre-A funding round led by Alibaba's Ant group, as investment in the clean power of the future heats up amid pressure from the energy-hungry AI industry. Other investors in Xeonova include Hidden Hill Capital and Zijin Mining Group, the South China Morning Post reported. Fusion creates power by combining atoms, in contrast to nuclear fission, where atoms are split apart. Fusion is a limitless source of power without the problem of radioactive waste. As of the end of July, 12 Chinese fusion firms raised a combined 14.7 billion yuan (US$2 billion). Xeonova, based in Hefei, was founded last year by University of Science and Technology of China Professor Sun Xian.

Economy & Markets

China's Electric-Car Sales Dominate Vehicle Sales

China's electric vehicle sales in October accounted for more than half of all new car sales for the first time, underscoring the nation's growing dominance in the global market, according to the China Association of Automobile Manufacturers. Sales increased 20 percent to 1.72 million, accounting for 52 percent of all vehicle sales. Exports doubled to 256,000 vehicles. In the first 10 months of the year, electric car sales totaled about 13 million vehicles, comprising 47 percent of total sales, and exports surged 90 percent to 2 million.

Separately, US investment bank Citicorp said in a new report that China's BYD, a world leader in electric cars, aims to sell up to 1.6 million vehicles abroad next year, rising from 1 million this year. The report following a meeting between Citi and BYD management.

Mindray Bio-Medical Files for HK IPO

Shenzhen-based Mindray Bio-Medical Electronics, China's largest medical-equipment maker, filed an application for an initial public offering in Hong Kong, with brokers expecting the company to raise at least US$1 billion, the South China Morning Post reported. The company is already listed on mainland's Shenzhen exchange, with a market capitalization of 251.6 billion yuan (US$35 billion). The company said in its filing that it is seeking the listing to expand its global outreach and increase its overall competitiveness. Mindray's share have dropped 26 per cent in the last year, which the company blames on slowing demand for its products.

China Approves Chilean Lithium Joint Venture

China's antitrust regulator has approved a lithium joint venture between Chilean mining giant Codelco and local producer SQM, Reuters reported. The green light from Beijing was the last remaining hurdle to the venture. It required approval from multiple government regulators for the company to operate in global markets. Under its approval, China requires the venture to provide a minimum supply of lithium to Chinese companies under certain fair-pricing terms and to refrain from sharing "sensitive" information with other lithium producers.

Corporate

Lenovo Launches Shanghai Tech Fund

China computer and consumer electronics group Lenovo joined hands with three funds to launch the 1-billion-yuan (US$141 million) Lenovo Shanghai Fund, focused on investment in frontier technologies in the city. Its partners are the Shanghai Future Industry Fund, Pudong Venture Capital and Fudan Sci-Tech Innovation. The new fund move marks Lenovo's latest push to anchor its innovation and AI capabilities. Lenovo Chairman and Chief Executive Yang Yuanqing said AI will increasingly be "centered on people and enterprises," and noted that the company's AI personal computers now comprise more than 30 percent of total PC shipments.

Burger King Owner, China Investor Form Venture

Canadian-based Restaurant Brands International, which operates the Burger King fast food chain, said it is forming a venture with Chinese investment firm CPE to triple Burger King outlets on the mainland to 4,000 by 2035. The deal will give CPE an 83 percent stake for US$350 million.

WeRide, Baidu Go Full Throttle in the Gulf

China robotaxi rivals WeRide and Baidu's Apollo Go said they have received approval from Abu Dhabi to begin commercial operations in the United Arab Emirates capital. WeRide said it has received the world's first city-level L4 self-driving license outside of the US. Apollo Go said it has received licenses from the Integrated Transport Center in the city, its first mass, unmanned operations outside of China.

Coach Owner Tapestry Plans China Expansion

US-based Tapestry, which owns designer brands Coach, Kate Spade New York and Stuart Weitzman, said it plans to open about 100 new stores in China over the next two or three years, adding to its existing 400 shops in 90 Chinese cities. Seth Sandeep, president of Tapestry International, was quoted by Yicai Global as saying that China will be the company's biggest growth opportunity in the next few years. "China is a very important market for us," he said. "It's a massive consumer market."

Canon Launches New EOS Camera in Shanghai

Canon China unveiled its new high-performance, full-frame mirrorless camera, the EOS R6 Mark III, in Shanghai. The 6-series is positioned as Canon's core standard full-frame model, designed to meet the needs of a diverse user base, including advanced hobbyists, professional photographers and video content creators. The EOS R6 Mark III boosts enhanced photo and video performance.