Why Beijing still loves its five-year plans

为何北京依然钟爱其五年计划

FT News Briefing

2025-10-20

11 分钟
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US President Donald Trump urged his Ukrainian counterpart to accept Russia’s war terms during Friday’s volatile White House meeting, and five-year plans still have a place in Chinese politics despite massive changes to its economic system. Plus, global hedge funds are listing in Hong Kong again after an extended slowdown, and the battle for control of rare earth metals is turbocharging stock prices in this sector.  Mentioned in this podcast: Trump urged Zelenskyy to accept Putin’s terms or be ‘destroyed’ by Russia China pushes high-tech in 5-year plan as US tensions rise Why China still loves its five-year plans Hedge funds return to Hong Kong listings Rare earths shares soar as US and China battle over export controls Save 40% on a standard annual digital subscription: ft.com/briefingsale  Today’s FT News Briefing was produced by Ethan Plotkin, Jess Smith, Sonja Hutson, and Marc Filippino. Our show was mixed by Kelly Garry. Additional help from Peter Barber. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.
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  • Good morning from the Financial Times.

  • Today is Monday, October 20th and this is your FT news briefing.

  • President Trump's latest meeting with Volodymyr Zelenskyy was a bitter pill for the Ukrainian president,

  • and Chinese officials are cooking up their next five year plan.

  • Plus, investors are really digging rare earth stocks.

  • I'm Jess Smith and here's the news you need to start your day US President Donald Trump told Ukraine's President Volodymyr Zelensky to accept the Kremlin's terms or be destroyed by Russia.

  • That's the latest detail the FT is reporting about Friday's White House meeting between the US And Ukrainian presidents.

  • Zelenskyy had traveled to the White House to try and secure new long range Tomahawk missiles,

  • but the meeting descended into a shouting match, according to officials familiar with the matter.

  • Trump told Zelenskyy to surrender Ukraine's entire Donbas region to Russia as part of an effort to end the war.

  • The day before the meeting,

  • Trump spoke with Russian President Vladimir Putin on the phone and the two are set to meet in person in Budapest.