The move is included in a VAT law approved in 2024, designed to update China's tax system. VAT accounts for nearly 40% of China's total tax revenue. After nearly three decades of strict birth restrictions under the "one-child policy" (population control measure limiting families to one child), China has rolled out a series of incentive-based measures over the past decade to encourage births. These include raising the permitted number of children per couple to three and, in some provinces, offering subsidies for in vitro fertilization treatments and food allowances for additional children. Several local authorities grant young couples extra paid leave days to encourage marriage.

However, the fact that condoms and contraceptives are set to become more expensive has sparked ridicule on social media. One user on Weibo (a popular Chinese social media platform) wrote, "Are they really going this far just to make us have children?" The new VAT law also includes tax breaks for childcare and marriage matchmaking services.

This year, the government allocated 90 billion yuan (approximately $12.7 billion) to a first-of-its-kind national childcare subsidy program, offering 3,600 yuan annually per child up to age 3. On Saturday, the government announced plans to expand the national health insurance system to cover all birth-related expenses.

Despite the incentives, their impact on the birth rate has been minimal. In 2024, the birth rate stood at 6.77 per 1,000 people – a slight increase from 2023, but still a historically significant low figure. A high mortality rate resulting from an aging population means China's population has been shrinking for at least three years.

Now, concerns are emerging that authorities are turning to the "stick" to achieve the national birth target. In several regions, women have reported receiving phone calls from local authorities requesting information about menstrual cycles and pregnancy plans. In December, women in Yunnan province in southwest China were required to report the date of their last menstrual period to local authorities. The local health bureau claimed the data collection was necessary to identify pregnant women and expected births.

Social media responses included: "Today they require all women to report menstrual dates, tomorrow they'll demand reports on when sexual intercourse occurs, and the day after they'll call demanding intercourse during ovulation. This is mass breeding."

The tax increase on condoms is considered a symbolic move. A typical package of condoms costs 40-60 yuan (approximately $5.70-$8.50), and a birth control pill, available without a prescription, costs 50-130 yuan per monthly package.

Yun Zhou, a social lecturer at the University of Michigan, noted that the new tax will likely not affect people's decision-making processes, but it signals the government's position on "what constitutes desirable family behavior." Zhou added that if access to contraceptives becomes challenging, "the negative impact will fall primarily on women, especially women from vulnerable populations."

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These processors – ranked second in power within Nvidia's inventory – are critical components for artificial intelligence workloads. However, the president clarified that the agreement does not cover Nvidia's highly desired Blackwell series or the next-generation Rubin units.

"I have informed President Xi, of China, that the United States will allow NVIDIA to ship its H200 products to approved customers in China, and other countries, under conditions that allow for continued strong National Security. President Xi responded positively!" Trump wrote.

Nvidia, currently the most valuable corporation globally, has surged due to booming AI demand, yet this success has positioned it directly within geopolitical tensions over technological supremacy.

Trump's message included the stipulation: "25% will be paid to the United States of America," seemingly indicating the federal government will claim a quarter of the revenue Nvidia secures from these sales, according to CNN.

The announcement follows a meeting between Trump and Nvidia CEO Jensen Huang, amidst the president's repeated assertions that America must secure victory in the global AI race against heavy Chinese investment.

"We applaud President Trump's decision to allow America's chip industry to compete to support high paying jobs and manufacturing in America. Offering H200 to approved commercial customers, vetted by the Department of Commerce, strikes a thoughtful balance that is great for America," an Nvidia representative told CNN. Additionally, Trump revealed that the Commerce Department is finalizing similar protocols for Intel, AMD, and other American manufacturers.

"AMD commends President Trump's leadership in finding a thoughtful approach to export policies that allows for US companies to compete globally," an AMD spokesperson stated. "The president's decision strengthens American competitiveness, supports high-value domestic jobs, and drives American investment and growth in the semiconductor industry."

CNN noted that Intel did not immediately reply to a request for comment. This authorization follows earlier agreements Trump established this year, including a deal for AMD and Nvidia to remit 15% of their China-sales revenue to the US government, while he also stated in August that the state plans to take a 10% equity position in Intel.

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NVIDIA just shattered records again. $NVDA reports Q3 Revenue of $57.0 Billion, up 62% year-over-year. • GAAP EPS: $1.30 (+67% YoY) • Net Income: $31.9B The AI boom isn't slowing down—it's accelerating. https://t.co/tskrzW9jNg#NVIDIA $nvda

— Israel Hayom English (@IsraelHayomEng) November 19, 2025

NVIDIA (NASDAQ: NVDA) continued its dominance of the artificial intelligence sector, reporting record-breaking revenue for the third quarter that significantly outperformed Wall Street projections.

The chip giant posted revenue of $57.0 billion, marking a staggering 62% increase compared to the same period last year and comfortably beating the analyst consensus of $55.09 billion.

NVIDIA achieved a gross margin of 73.4% and an operating income of $36.0 billion, translating to an exceptional operating margin of 63.2%. The company's profitability was equally striking, with operating income reaching $36.0 billion, demonstrating exceptional operational efficiency even as it scales. Net income followed suit, jumping 65% year-over-year to nearly $31.9 billion (or $1.30 per share). Looking forward, the company signaled that the AI boom is far from over, issuing guidance for fourth-quarter revenue of approximately $65 billion and noting that demand for its next-generation Blackwell chips is already "off the charts."

"During the first nine months of fiscal 2026, NVIDIA returned $37.0 billion to shareholders in the form of shares repurchased and cash dividends. As of the end of the third quarter, the company had $62.2 billion remaining under its share repurchase authorization," the company said in a statement.

Smashing the projections

NVIDIA didn't just meet expectations; it surpassed them by nearly $2 billion on the top line.

• Revenue Beat: Actual revenue of $57.0 billion vs. Consensus of $55.09 billion (a beat of $1.91 billion).

• EPS Beat: Non-GAAP earnings per diluted share came in at $1.30, beating the consensus estimate of $1.26.

The primary engine for this outperformance was the data center segment, which generated a record $51.2 billion in revenue alone: up 66% from a year ago. This single segment now accounts for the vast majority of the company's total intake.

Guidance blows past estimates

Perhaps more impressive than the current results is NVIDIA's outlook for the future. The company provided fourth-quarter revenue guidance of $65.0 billion (plus or minus 2%).

This forecast stands well above the consensus estimate of $61.84 billion, suggesting a difference of over $3 billion between NVIDIA's internal visibility and Wall Street's models. The company also forecasted strong non-GAAP gross margins of roughly 75.0% for the upcoming quarter.

NVIDIA Q3 Fiscal 2026: Actual vs. Consensus

Note: Q4 Revenue Outlook represents the midpoint of the provided guidance range (+/- 2%).

"Insatiable" Demand for AI

The driving force behind the surge remains the company's next-generation hardware. In the press release, NVIDIA founder and CEO Jensen Huang emphasized that demand is outstripping supply.

"Blackwell sales are off the charts, and cloud GPUs are sold out," Huang stated. "Compute demand keeps accelerating and compounding across training and inference, each growing exponentially."

Huang described the current market environment as a "virtuous cycle of AI," noting that the ecosystem is scaling rapidly across various industries and countries. "AI is going everywhere, doing everything, all at once," he added.

BREAKING: Nvidia $NVDA earnings

EPS $1.3 vs $1.26 expected
Revenue $57 Billion vs $55 billion expected

We are breaking it down LIVE at https://t.co/b1CM1ZxP19 pic.twitter.com/qTZEcDXqSy

— unusual_whales (@unusual_whales) November 19, 2025

The corporation published its third-quarter numbers and future outlook on the investor relations segment of its web portal at 4:20 p.m. ET, about half an hour after Wall Street trading concluded. A subsequent discussion with management began at around 5 p.m. ET via the same platform, arriving as anxiety regarding the immense capital expenditures on artificial intelligence by Silicon Valley giants increases. The stunning beat appeared to soothe the concerns of circular funding between the major AI players, with after hours trading showing green candles for the 5-trillion company. 

Before the smashing earnings report, observers questioned if CEO Jensen Huang would validate the AI revolution's ongoing surge or perhaps warn us that demand for the GPUs (its processing units that allowed fast computations with AI capacities) had plateaued, less than a decade after his company made perhaps the most important decision in its history: buying a small Israeli company named Mellanox, from Yoqne'am.

Gaining essential Ethernet and InfiniBand tools for high-performance AI centers made the 2019 Mellanox deal a pivotal moment. That acquisition rendered the Jewish state and the tech giant "inextricably linked", establishing Israel as the company's second-biggest R&D hub outside America.

Nvidia controls roughly 80% of global AI GPU spending in 2025. Its data center unit generated $41.1 billion in Q2. Reports provide insights into AI adoption and cloud spending. CEO Jensen Huang projects $3-4 trillion in infrastructure spending by 2030. Financial Times noted that the company's performance is a barometer for the sector.

The report was a a beat across the board, and a record, just weeks after the company has recently reached a record market cap of 5 trillion dollars, the first company ever to do so.

Transitioning from a graphics processor manufacturer to an AI infrastructure titan marks the firm's successful metamorphosis, driven by the stagnation of traditional silicon progress known as Moore's Law.

NVIDIA just shattered records again. $NVDA reports Q3 Revenue of $57.0 Billion, up 62% year-over-year. • GAAP EPS: $1.30 (+67% YoY) • Net Income: $31.9B The AI boom isn't slowing down—it's accelerating. https://t.co/tskrzW9jNg#NVIDIA $nvda

— Israel Hayom English (@IsraelHayomEng) November 19, 2025

Recent performance history shows the equity has consistently surpassed Wall Street predictions in its previous three financial summaries, bolstering shareholder belief in operational fulfillment amidst unprecedented requests for AI frameworks. Yet, the last profit victory, the August earnings report for Q2,  failed to calm fears regarding a deceleration after data center revenues of $41.1 billion missed projections marginally, causing a sell-off, even though the revenue fell short only because China was denied access to its chips because of newly imposed US restrictions. The stock subsequently recovered losses to hit fresh peaks. 

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Widely shared footage on Chinese social media platforms captured the Hongqi Bridge in Sichuan Province buckling before dropping into the waterway below, creating a massive dust cloud. The incident occurred approximately 3 p.m. local time near the G317 national highway, according to China Central Television (CCTV) News. Local transportation and security bureaus reported Monday afternoon deformation signs on the right-bank slope hours before the failure, leading officials to promptly "shut down the structure" to all movement and issue public warnings about potential safety risks, CCTV News said.

Positioned in Sichuan Province's mountainous Maerkang area, the Hongqi Bridge reached completion earlier this year as part of the G317 national highway – a crucial route connecting central China to Tibet, Times Now reported. The 758-meter (2,487-foot) cantilevered two-lane beam structure stood roughly 625 meters (2,051 feet) above the canyon floor, with piers extending up to 172 meters (564 feet) in height. It was constructed by the state-backed Sichuan Road & Bridge Group to expand access to the Tibetan Plateau, according to Times Now.

Part of broader governmental efforts to improve connectivity and drive economic growth across western China's rugged landscape, the bridge construction represented infrastructure ambitions meant to showcase engineering progress. Authorities intended the span as a national symbol, yet vehicular traffic resumed only months before the collapse – marking a brief operational chapter for what was designed to demonstrate China's engineering capabilities.

The collapse's cause remains undisclosed by state-run outlets, though early assessments suggest "geological instability" may have contributed, with officials confirming no vehicles or pedestrians occupied the bridge during the incident as investigations continue, CCTV News reported.

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According to European intelligence sources cited in the report, several shipments of sodium perchlorate, a key compound in the production of solid fuel used to power Iran's conventional medium-range missiles, have arrived at Iran's Bandar Abbas port from China since the UN's "snapback" sanctions mechanism was triggered at the end of September.

These sources said the shipments, which began arriving on September 29, contain 2,000 tons of sodium perchlorate purchased by Iran from Chinese suppliers. The acquisition follows the extensive damage Iran's missile infrastructure suffered during the Gaza War, and appears to be part of a determined effort to replenish its depleted missile stockpiles. Some of the Chinese shipping companies and entities involved are already under US sanctions.

The deliveries come in the wake of the reactivation of longstanding UN sanctions under the snapback mechanism, triggered by Iranian violations of the 2015 Joint Comprehensive Plan of Action (JCPOA) nuclear agreement.

Under the renewed sanctions imposed on Tehran last month, Iran is banned from conducting any activities related to ballistic missiles capable of carrying nuclear warheads. UN member states are also obligated to prevent the supply of materials to Iran that could aid the development of nuclear-capable missile delivery systems—materials which, experts say, may include ballistic missiles.

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Taiwan's leading semiconductor manufacturer TSMC reported record-breaking financial performance for the quarter ending September 30, 2025, with consolidated revenues reaching NT$989.92 billion. The company achieved net profits of NT$452.30 billion and diluted earnings per share of NT$17.44, equivalent to US$2.92 per American Depositary Receipt unit.
The chipmaker's third-quarter results demonstrated robust growth momentum, with revenues climbing 30.3% compared to the same period last year. Net income surged even more dramatically, posting a 39.1% year-over-year increase, while diluted earnings per share rose by 39.0%. Sequential quarterly growth also remained strong, showing a 6.0% revenue boost and 13.6% net income improvement over the second quarter of 2025.

When converted to US dollars, TSMC's third-quarter revenues totaled $33.10 billion, marking a substantial 40.8% annual increase and 10.1% quarterly growth. The company maintained impressive profitability metrics, including a gross margin of 59.5%, an operating margin of 50.6%, and a net profit margin of 45.7%. Leading financial publications have verified that these earnings represent TSMC's strongest quarterly profit performance in the company's history.

TSMC faces significant geopolitical threats from mainland China that extend beyond traditional business competition. The constant pressure from China creates strategic vulnerabilities for both TSMC and Taiwan, as the company's dominance in advanced semiconductor manufacturing has become a critical factor in cross-strait tensions. If China were to invade the island, the world would face an immediate supply shock with widespread delays in technology manufacturing, as many tech companies depend on components produced in Taiwan. China's expanding semiconductor capabilities, particularly through companies like SMIC (Semiconductor Manufacturing International Corporation), represent a long-term competitive challenge. SMIC has made significant progress in mature process nodes (28nm and above), with Chinese foundries expected to account for over 25% of global capacity among top mature-node foundries by the end of 2025. While mainland China lags behind in advanced AI chip manufacturing, its push for technological autonomy and domestic substitution – especially in automotive and industrial semiconductors – could gradually erode Taiwan's strategic advantage. The threat is compounded by concerns that TSMC's diversification of operations to locations like Arizona, while mitigating supply chain risks, could diminish Taiwan's "silicon shield" protection by reducing the strategic importance that deters Chinese aggression.​

Strong Demand for advanced technologies

"Our business in the third quarter was supported by strong demand for our leading-edge process technologies," Senior Vice President and Chief Financial Officer Wendell Huang said.

The remaining technology nodes contributed as follows: 16/20-nanometer represented 7% of wafer revenue, 28-nanometer accounted for 7%, 40/45-nanometer contributed 3%, 65-nanometer made up 4%, 90-nanometer was 1%, 0.11/0.13-micrometer represented 1%, 0.15/0.18-micrometer accounted for 3%, and 0.25-micrometer and above contributed less than 1%.​

AI chip demand drives growth

TSMC's record performance reflects surging demand from major AI chip designers, particularly NVIDIA and AMD, who rely heavily on TSMC's advanced manufacturing capabilities for their cutting-edge AI accelerators. NVIDIA is expected to overtake Apple as TSMC's biggest customer in 2025, underscoring the massive shift toward AI infrastructure spending. Both NVIDIA and AMD depend on TSMC's most advanced process nodes – 3nm and below – along with sophisticated packaging technologies like CoWoS (Chip-on-Wafer-on-Substrate) to produce the high-performance chips powering generative AI applications and data centers. AMD has committed to an annual release cadence for its AI accelerators, with future chips expected to utilize TSMC's cutting-edge 2nm technology. The company controls over 70% of the global foundry market and serves as the indispensable manufacturing partner for the AI revolution.​

Revenue from Smartphone increased 19%, IoT increased 20%, and Automotive increased 18% from the second quarter. HPC remained flat, while DCE decreased 20% and Others declined 8% compared to the previous quarter.​

From a geographic perspective, revenue from customers based in North America accounted for 76% of total net revenue in the third quarter. Revenue from Asia Pacific, China, Japan, and EMEA (Europe, Middle East, and Africa) accounted for 9%, 8%, 4%, and 3% of total net revenue respectively.​

TSMC's third-quarter gross margin reached 59.5%, representing a 0.9 percentage point improvement from the previous quarter. This enhancement stemmed mainly from cost reduction initiatives and increased facility utilization rates, though these gains were somewhat diminished by adverse currency fluctuations and dilutive effects from international manufacturing operations.

Operating expenditures rose by NT$3.25 billion to NT$87.76 billion during the quarter, accounting for 8.9% of net revenues versus 9.1% in the prior quarter, reflecting improved operational efficiency. The company's operating margin strengthened by 1.0 percentage point quarter-over-quarter to 50.6%. Research and development investments totaled NT$63.74 billion, while sales, general and administrative costs amounted to NT$24.02 billion.

TSMC's annualized return on equity climbed to 37.8%, marking a 3.0 percentage point sequential increase and a 4.4 percentage point year-over-year improvement.Retry

Financial position and cash flow

TSMC's total current assets grew by NT$171.10 billion from the previous quarter, driven primarily by a NT$116.63 billion expansion in cash and marketable securities holdings. By the conclusion of the third quarter, the company's combined cash and marketable securities reached NT$2,751.06 billion. Meanwhile, total current liabilities contracted by NT$101.40 billion, largely attributed to a NT$111.70 billion reduction in accrued liabilities and other obligations. The semiconductor giant maintained net working capital of NT$2,160.11 billion with a current ratio of 2.7 times during the quarter.

The company's net cash reserves expanded by NT$100.07 billion to reach NT$1,756.61 billion in the third quarter, reflecting the growth in cash and marketable securities positions. Outstanding interest-bearing debt stood at NT$994.45 billion.Retry

"Moving into fourth quarter 2025, we expect our business to be supported by continued strong demand for our leading-edge process technologies," Huang stated.​

Drawing from current market conditions and business projections, TSMC's leadership anticipates fourth-quarter revenues will fall within the US$32.2 billion to US$33.4 billion range. Using an exchange rate projection of 30.6 New Taiwan dollars per US dollar, company executives forecast gross profit margins between 59% and 61%, with operating profit margins expected to span 49% to 51%.

Understanding the results: A simplified explanation

For readers less familiar with financial terminology, here's what these results mean in everyday terms: TSMC operates as a specialized manufacturer – it doesn't design or sell its own chips, but instead produces semiconductors based on designs provided by technology companies around the world. This "pure-play foundry" business model, which TSMC pioneered, means the company focuses exclusively on manufacturing rather than competing with its customers.​

The company's "nanometer" measurements refer to the size of transistors on computer chips – smaller numbers mean more advanced technology that can pack more computing power into the same space. TSMC manufactures about 60% of the world's contracted semiconductor production, making it the dominant player in this specialized manufacturing sector.​

The strong financial results reflect several key trends: High-Performance Computing (which includes data centers and artificial intelligence systems) now represents more than half of TSMC's business, while smartphones contribute about one-third. The company's ability to maintain gross margins near 60% indicates strong pricing power and operational efficiency – for every dollar in sales, TSMC keeps approximately 60 cents after covering direct manufacturing costs.​

TSMC's substantial capital expenditures of nearly $30 billion year-to-date represent ongoing investments in new factories and equipment to maintain its technological leadership and expand production capacity. The company was founded in 1987 in Taiwan and remains headquartered in Hsinchu, with operations expanding globally to serve customers across multiple continents.​​

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Nvidia had not fully complied with provisions outlined when it acquired Mellanox Technologies, an Israeli-US supplier of networking products, China's State Administration for Market Regulation (SAMR) stated on Monday, according to Reuters. Beijing provided conditional approval for the US chipmaker's acquisition of Mellanox in 2020.

Monday's statement was released as US and Chinese officials were conducting more trade talks in Madrid, with a tariff truce between the world's two biggest economies scheduled to expire in November, Reuters noted.

Two individuals with knowledge of the situation said SAMR arrived at its conclusion weeks before the announcement on Monday, adding that the regulator released the statement at this time to provide China with greater leverage in the trade discussions.

The regulator initiated the anti-monopoly investigation in December, one week after the US revealed stricter export controls on advanced high-bandwidth memory chips and the equipment for making chips sent to the country.

SAMR subsequently spent months interviewing relevant parties and collecting legal opinions to formulate the case, the people stated.

In 2020, Nvidia purchased Mellanox for $6.9bn, and the acquisition assisted the chipmaker in advancing into the data center and high-performance computing market, where it is currently a dominant player.

The preliminary findings against the chipmaker could lead to fines between 1% and 10% of the company's sales from the preceding year. Regulators also have the authority to compel Nvidia to modify business practices that are deemed to be in violation of antitrust laws.

A statement from Nvidia said it complies "with the law in all respects" and would continue to co-operate with all relevant government agencies.

Over the past few years, Nvidia has risen to become a global market leader in artificial intelligence chips, with its graphics processing units (GPUs) being critical in the development of leading AI models.

This has also meant that Nvidia has become more and more entangled in the trade tensions between Washington and Beijing.

US Treasury Secretary Scott Bessent, who spoke at the Madrid talks on Monday, said the regulatory finding against Nvidia was a topic in the meetings.

"We discussed the poor timing of the Nvidia investigation [on] the day of these talks," his comment was, as cited by Reuters.

Successive administrations in the US have put in place export controls that have required Nvidia to sell less powerful versions of its essential graphics processing units in China, creating a large black market of smugglers who illegally transport its more advanced processors into the country.

The US this year also prevented sales of the H20 chip, which Nvidia created for the Chinese market while following export controls. The company later made a deal to let sales resume in return for giving the US government 15% of the revenues.

Despite this, Chinese regulators have been putting pressure on the nation's tech companies, warning them against buying Nvidia's H20 chip, which has created uncertainty over the US group's business in the country.

Nvidia Chief Executive Jensen Huang, who has frequently visited China in a display of his commitment to a vital overseas market, has criticized the US curbs, calling them a "failure" that has motivated Chinese competitors to speed up the development of their own products, according to Reuters.

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Two figures stood out among the guests. When Xi joined them on the balcony overlooking thousands of troops marching with robotic precision, it was the first time the three had been photographed together in one place: Russian President Vladimir Putin and North Korean leader Kim Jong Un. The trio now embodies the sharpest opposition to the American-led world order, at a time when questions are mounting over whether the White House itself remains committed to it.

"Military parades are always about messaging," said Prof. Yoram Evron of Bar-Ilan University's Asian Studies Department. "The aim is to send a strong message, both domestically and abroad." Indeed, Chinese state media turned the event into the story of the day, with every segment reminding viewers that "Xi is the supreme commander of the army."

According to Evron, the message was twofold: to show the Chinese people their country's rise as a great power and Xi's personal authority, while projecting China's global standing, advanced weapons and industrial strength outward. "China never misses such milestones," he said. "It always extracts the maximum benefit from them."

Alongside Putin and Kim, a long list of leaders stood on the same balcony: Iranian President Masoud Pezeshkian, Belarusian President Alexander Lukashenko, Myanmar junta chief Min Aung Hlaing, and Pakistani Prime Minister Shehbaz Sharif. From Europe came Serbian President Aleksandar Vucic and Slovak Prime Minister Robert Fico, joined by dozens of leaders from Asia, Africa and Latin America.

Noticeably absent were Western leaders and China's immediate neighbors aligned with them – Japan, South Korea and Taiwan – as well as countries often seen as close to Beijing, including Brazil and South Africa.

Indian Prime Minister Narendra Modi, who had attended the summit earlier in the week, stayed away from the parade, a predictable move given the recurring border clashes between India and China that fuel their historic rivalry.

US President Donald Trump, who had staged a smaller military parade just three months earlier, admitted he stayed up late in Washington to watch the event live, calling it "a beautiful ceremony. I thought it was very very impressive. But I understood the reason they were doing it. They were hoping I was watching, and I was watching." The parade marked Japan's defeat in World War II, and Trump voiced frustration that America's role was not acknowledged. "Xi is my friend, but I thought the US should have been mentioned in the speech, since we helped China."

On Twitter earlier, his tone had been harsher, questioning whether Xi would mention the "American blood spilled for China" and accusing Xi, Putin and Kim of "plotting against the United States."

Since coming to power in 2013, Xi has consolidated extraordinary authority. In 2023, he began his third presidential term after scrapping the two-term limit, concentrating power in his hands and reviving a cult of personality not seen in decades. In the military, he has repeatedly purged top defense officials and senior officers under the banner of an "anti-corruption" campaign.

"These are not routine purges," Evron explained. "This is unprecedented in scale and rank – often targeting figures Xi himself had appointed not long before."

The deadline

For years, one date has loomed over discussions of China's military: 2027. Western intelligence assessments say Xi has ordered the People's Liberation Army to be ready by then to invade Taiwan – exactly 100 years after the PLA's founding. The island, which has functioned as an independent state with a democratic government and thriving economy, has been viewed by Beijing as a "renegade province" since 1949, when Chiang Kai-shek and the Kuomintang fled there after losing the civil war to Mao.

Along with the synchronized ranks of troops in Beijing, China's military showcased its full nuclear triad for the first time – land, sea and air-launched nuclear missiles. The parade also featured hypersonic anti-ship missiles, unmanned submarines, fifth-generation stealth fighter jets, high-powered laser weapons and even quadruped robots designed to support ground forces.

Still, most of these weapons remain untested in real combat despite their impressive scale and advanced technology.

Evron noted that the technological highlight was the display of China's aviation breakthroughs – an industry long considered a weakness compared to the US and Russia. "This was the first large-scale public showing of fifth-generation fighter models," he said. "China's missile industry has always been advanced, but aviation was its weak spot. Now it shows it has closed the gap."

The parade unveiled fighters like the J-35A and J-20S. Reports claim the latter can control drones – a capability usually associated with sixth-generation aircraft. China also presented carrier-based aircraft under development.

Unmanned systems were another major feature. In the air, the CH-9 drone was displayed, capable of flying 40 hours at 36,000 feet (11,000 meters) in competition with American models. At sea, the HSU100 unmanned submarine was unveiled, alongside an array of other drones for air, sea and land missions.

China's maritime arena is central to its combat scenarios. New YJ-series cruise missiles were shown, some reportedly hypersonic and dubbed "carrier-killers" after Chinese media released footage of them being tested against mock American carriers. Also presented was the LY-1, a laser system that Chinese reports claim can intercept missiles – and even ships – at minimal cost.

Before reviewing the troops, Xi delivered a speech to more than 50,000 spectators, sending a pointed message across the Pacific. "Humanity once again faces a choice between peace and war, dialogue and confrontation, mutual benefit or zero-sum," Xi declared, adding that "the Chinese people firmly stand on the right side of history." With a thinly veiled reference to the US and its allies, Xi said China was a great nation that would "never be intimidated by bullies" and warned that China was "unstoppable."

As in every parade, the most striking sight was the giant missiles rolling through the avenue. For the first time, China's nuclear triad was displayed together, including the Dongfeng-61, described as its most advanced ballistic missile, and the Dongfeng-C5, which Beijing claims can strike anywhere on Earth with multiple warheads.

The display ended with 80,000 white doves and 80,000 balloons released into the Beijing sky. Like the US, China now demands "peace through strength." But with frequent saber-rattling in the South China Sea and the Taiwan Strait, and the sweeping transformation of China's military now laid bare before the world, many are left wondering just how stable that peace will be.

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باستثمارات 220 مليون دولار.. رئيس الوزراء المصري يشهد توقيع عقد مشروع "أتوم سولار #مصر" #القاهرة_الإخبارية pic.twitter.com/uvQKWPg2Cl

— القاهرة الإخبارية - AlQahera News (@Alqaheranewstv) August 27, 2025

The agreement was signed in the new city of El Alamein in the presence of Egyptian Prime Minister Mostafa Madbouly. The solar complex will cover 200,000 square meters (nearly 50 acres) in the Ain Sokhna industrial area, which is managed by the public authority of the Suez Canal Economic Zone.

Construction is expected to take three years, from initial building to full operation. Once complete, the project is set to create 841 new jobs in Egypt. Some of the electricity produced will also be exported to global markets.

Madbouly said the Suez Canal Economic Zone is positioned to attract international investment and serve as "a regional hub for the green economy, thanks to its location on a global trade route."

The deal was signed as Emirati President Mohammed bin Zayed Al Nahyan visited Egypt. Earlier this week, bin Zayed met Egyptian President Abdel Fattah el-Sissi, who welcomed him at El Alamein Airport. The visit was part of ongoing consultations between Cairo and Abu Dhabi on regional and international developments, as well as efforts to strengthen ties between the two countries.

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The event, hosted by The Chaim Herzog Museum of the Jewish Soldier in World War II, culminated with a special ceremony in which Rosenfeld's nephew, Menashe Rosenfeld, accepted a medal on his behalf, some 73 years after his death. Rosenfeld had become minister of health under Mao Zedong and even received the rank of general due to his saving of countless Chinese during the chaotic years of the wars after he himself had fled Vienna due to Nazi persecution. He died in Israel in 1952.

Shared memory

Major General (Res.) Zvika Kan-Tor, the museum's CEO, welcomed guests by framing the ceremony within the solemn 80th anniversary of the victory against the Axis Powers in World War II, which in China is referred to as The World Anti-Fascist War.

"Today we commemorate the legacy of Dr. Jakob Rosenfeld, a courageous doctor and soldier, who is honored here in the museum," he said in a statement. "His unique and meaningful story is one among the one and a half million stories of Jewish men and women fighters that continue to inspire us to this day. Every visit to the museum reminds us that Jewish history in World War II is not only about historical dates, but also about personal stories of courage and sacrifice. Our mission is to illuminate the stories of these Jewish fighters and to connect future generations to the legacy of Jewish heroism."

He added that part of the reason it was important to hold this event was to celebrate Rosenfeld beyond China – here in Israel – where he has been an unsung hero. "We are dedicated to telling a wonderful story that in China, millions of people cherish, but here in the state of the Jewish people, almost no one knows," he stated, underscoring the museum's mission to illuminate the forgotten history of the 1.5 million Jewish soldiers who fought the Axis Powers.

This sentiment was echoed in a poignant letter from Israeli President Isaac Herzog, delivered by Aviv Ezra, the deputy director general for Asia and the Pacific at the Israeli Ministry of Foreign Affairs. Herzog hailed Dr. Rosenfeld as a figure who "wrote himself directly into the pages of Chinese history." His letter celebrated the "deep mutual regard shared by people of every rank" and called Rosenfeld a "symbol of what can be achieved when openness and goodwill reign."

Taking the podium, Chinese Ambassador Xiao Junzheng delivered an expansive address that served as the evening's centerpiece, touting the unique relationship between Beijing and Jerusalem not just between leaders, but also in shared values, history and memory.

He began by painting a vivid picture of the honoree. "Today, we hold this special event to commemorate Dr. Jakob Rosenfeld. He was a doctor and a fighter, too," the ambassador said. "He fled Vienna to China in 1939, escaping the persecution by the Nazis. Driven by a sense of justice, he abandoned a comfortable life in Shanghai and joined the anti-Japanese resistance. For 10 years, he fought as an army medical doctor and as a general, saving the lives of Chinese soldiers and civilians. He dedicated himself to the cause of liberating the Chinese people."

The choice of venue was deeply symbolic, surrounded by exhibits honoring Rosenfeld's actions as one of the 1.5 million Jews who fought in World War II for the cause of freedom, which, according to the ambassador, was a manifestation of the bond between the two ancient peoples, the Chinese and the Jews. "Our destinies are intertwined," he said.

Ambassador Xiao meticulously drew parallels between the immense suffering and resilience of the two peoples during that era. "80 years ago, the Chinese people, alongside nations across the globe, secured victory in the war of resistance against Japanese aggression," he declared. "This great victory stands as a solemn reminder that we must never forget history and must always uphold its truths. The Chinese people's war of resistance against Japanese aggression constituted the main Eastern battlefield of the world anti-fascist war. It began the earliest and endured the longest. Throughout these 14 years of struggle, the Chinese people waged a courageous fight at a tremendous cost, suffering over 35 million casualties."

He then directly honored the history enshrined in the museum walls. "We also remember the 1.5 million Jewish fighters... who fought against the Nazis during World War II. Approximately 250,000 of whom made the ultimate sacrifice. They will forever be remembered by us and by history."

In China, there is no soil for antisemitism

Directly addressing President Herzog's appeal in his letter, Ambassador Xiao reiterated that Beijing "earnestly hopes for an immediate end to the ongoing hostilities", before stressing that "as a reaffirmation of China's consistent position, I once again appeal that all Israeli hostages be released immediately."

He concluded his address by celebrating the deep-rooted friendship between the two peoples. "When the Jewish communities in Europe faced brutal persecution... China provided refuge, with Shanghai alone offering sanctuary to at least 25,000 Jewish refugees," he said. "A friend in need is a friend indeed. This shared history forms a lasting foundation for the friendship between China and Israel. In China, there is no soil for antisemitism. The Chinese government will never allow antisemitism to exist or take root."

The ambassador recalled that Ho Feng-Shan, the consul general in Vienna during WWII, demonstrated this willingness to help the Jews during the 1930s, risking his life to issue a "life-saving visa" that made it possible for Rosenfeld to flee to Shanghai. In turn, Rosenfeld gave his host nation "hope and survival," as did many other Jews who fled to China. "This great victory inspires us to cherish the traditional friendship between the Chinese and Jewish people and to carry it forward for generations to come."

Following his powerful speech, Ambassador Xiao formally announced the honor bestowed upon the Jewish doctor by the Chinese authorities: "A decision has been made by the government of the People's Republic of China to award the commemorative medal to Dr. Jakob Rosenfeld for his remarkable contributions." He then presented the medal to Dr. Menashe Rosenfeld, the hero's nephew, to the applause of the more than 200 in attendance.

Visibly moved, Dr. Rosenfeld spoke of the profound respect his family had for him. "To see the devotion of a nation like China to heroes – Chinese, Jewish, other – I had seen it in China, and I had felt it in China," he shared. He then offered a powerful analogy: "China is a nation of over 5,000 years... We are just 3,700 years old. China, you may be our big brother, and I would like to point out, let's learn from the big brother how to respect and honor heroes."

Video: The event honoring Jakob Rosenfeld on August 27, 2025

Rosenfeld was echoing what Ambassador Xiao said in his speech about the need to introduce Rosenfeld's story to the mainstream public. "Though Dr. Rosenfeld passed away 73 years ago, his legacy continues to be honored across China," the ambassador said during his speech, citing hospitals, museums, and monuments that bear his name, even a 4-meter statue. Speaking to Israel Hayom, he later added that he hoped this event would raise awareness of Rosenfeld's actions in Israel, just as he had become a national hero in the country where he found refuge. "In China, many people know about his story. But few know about him in Israel; we hope that in the coming years know more and more Israel people will know the story."

The recently built Chaim Herzog Museum of the Jewish Soldier in World War II, which hosted the event, was founded as part of an effort to shed light on the one and a half million Jewish men and women who fought on various fronts. "Until now, these stories have not been properly told," the museum said in a statement. "Many of them later made significant contributions to the establishment of the State of Israel and the IDF," it continued, noting that visitors can see "works of art, original wartime documents, and fascinating anecdotes about Jewish soldiers, narratives that, until today, had not been part of the Jewish collective memory of World War II."

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