China tests canal link to Southeast Asia; rocket failure concerns: SCMP’s 7 highlights

1. China has successfully completed the first full transit test along a 134.2km canal megaproject that links an inland region with Southeast Asia, moving the project closer to a planned September launch. This canal will facilitate smoother trade with key trading partners in the region.

2. A recent failure of China's Long March-7A rocket, which resulted in the loss of a communications satellite, has raised questions about the reliability of China's ambitious launch schedule. It remains unclear whether this was an isolated operational setback or a sign of a systemic problem.

3. Zhu Rongji, a prominent figure in China's economic reform efforts as the chief engineer, passed away at the age of 97 in Beijing. He played a crucial role in one of the most significant economic transformations in human history.

4. In a move that may impact Hong Kong, China has introduced a 20% offshore tax on its super-rich. This new policy aims to address the wealth of Asia's elite, who have historically benefitted from Hong Kong's favorable tax environment.

5. In a separate incident, a man with a knife was arrested in Hong Kong after allegedly injuring two people at a housing estate in Pok Fu Lam. The incident has raised concerns about public safety in the region.

6. China has accused the US of attempting to purchase its super magnet, which boasts a performance that is 40% higher than conventional magnets. The super magnet is used in a leading particle accelerator, and Chinese officials are optimistic about the potential sale of this advanced technology.

7. South Korean actress Ha Young has apologized for the controversy surrounding her great-grandfather's pro-Japanese ties during Japan's colonial rule (1910-45). She initially called the accusations "groundless," but subsequently issued the apology to address the issue.