Chinese aircraft carrier passes through Taiwan Strait: Taipei

Above, the Chinese aircraft carrier Shandong in Pacific Ocean waters in this photo released by Japan’s Ministry of Defense on April 6, 2023. (Japan’s Ministry of Defense/AFP)
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Updated 27 May 2023
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Chinese aircraft carrier passes through Taiwan Strait: Taipei

  • Taiwan: ‘A PLN flotilla of 3 ships, led by the Shangdong aircraft carrier, passed through the Taiwan Strait around noon today’

TAIPEI: Three Chinese ships, including the Shandong aircraft carrier, passed through the Taiwan Strait on Saturday, the island’s Ministry of National Defense said.

China claims self-ruled democratic Taiwan as its territory, and has vowed to take it one day — by force if necessary.

Since Taiwanese President Tsai Ing-wen — who rejects that the island is part of China — was elected in 2016, Beijing has ramped up air and sea incursions around the island.

While the presence of Chinese warships is constantly monitored and announced near-daily by Taipei, the passage of the Shandong through the 180-kilometer-wide Taiwan Strait is unusual.

“A (People’s Liberation Army Navy) flotilla of 3 ships, led by the Shangdong aircraft carrier, passed through the Taiwan Strait around noon today,” the ministry said in a statement, referring to China’s navy.

The flotilla went “to the west of the median line, heading northward,” it added, referring to the unofficial border in the middle of the strait which separates the island from continental Asia.

Saturday’s latest show of force from Beijing comes more than a month after China launched aerial and naval exercises around the island.

The April war games saw Beijing simulate targeted strikes on Taiwan and encirclement of the island, including “sealing” it off, and state media reported dozens of planes had practiced an “aerial blockade.”

The Shandong also participated in those exercises, with J15 fighter jets deployed from it — though the vessel was not in the Strait, but southeast of Taiwan.

The war games were a response to Tsai’s meeting with US House Speaker Kevin McCarthy in early April, an encounter Beijing had warned would provoke strong countermeasures.

Taiwan’s armed forces said Saturday they “have monitored the situation and tasked (civil air patrol) aircraft, navy vessels, and land-based missile systems to respond to these activities.”

In recent days, the island has seen an increased presence of Chinese ships and warplane incursions.

The defense ministry said 33 warplanes and 10 vessels were detected in the 24 hours to 6:00 a.m. Saturday.

The day before, 11 vessels were near Taiwan’s waters.

The last time officials confirmed the Shandong sailed through the Taiwan Strait was in March 2022, right before China’s Xi Jinping and US President Joe Biden held a phone call.

Before that, the carrier transited in December 2020, a day after a US warship had passed through. The Shandong also made a sail-by in December 2019, weeks before Taiwanese voters went to the polls.


Britain needs ‘AI stress tests’ for financial services, lawmakers say

Updated 20 January 2026
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Britain needs ‘AI stress tests’ for financial services, lawmakers say

  • Lawmakers urge AI-specific stress tests for financial firms

LONDON: Britain’s financial watchdogs are not doing enough to stop artificial ​intelligence from harming consumers or destabilising markets, a cross-party group of lawmakers said on Tuesday, urging regulators to move away from what it called a “wait and see” approach.
In a report on AI in financial services, the Treasury Committee said the Financial Conduct Authority and the Bank of England should start running AI-specific stress tests to help firms prepare for market shocks triggered by automated systems.
The committee also called on the FCA to ‌publish detailed guidance ‌by the end of 2026 on how ‌consumer ⁠protection ​rules apply to ‌AI, and on the extent to which senior managers should be expected to understand the systems they oversee.
“Based on the evidence I’ve seen, I do not feel confident that our financial system is prepared if there was a major AI-related incident and that is worrying,” committee chair Meg Hillier said in a statement.

TECHNOLOGY CARRIES ‘SIGNIFICANT RISKS’

A race among banks to adopt agentic AI, which ⁠unlike generative AI can make decisions and take autonomous action, runs new risks for retail customers, the ‌FCA told Reuters late last year.
About three-quarters ‍of UK financial firms now use ‍AI. Companies are deploying the technology across core functions, from processing insurance claims ‍to performing credit assessments.
While the report acknowledged the benefits of AI, it warned the technology also carried “significant risks” including opaque credit decisions, the potential exclusion of vulnerable consumers through algorithmic tailoring, fraud, and the spread of unregulated financial advice through AI chatbots.
Experts ​contributing to the report also highlighted threats to financial stability, pointing to the reliance on a small group of US tech ⁠giants for AI and cloud services. Some also noted that AI-driven trading systems may amplify herding behavior in markets, risking a financial crisis in a worst-case scenario.
An FCA spokesperson said the regulator welcomed the focus on AI and would review the report. The regulator has previously indicated it does not favor AI-specific rules due to the pace of technological change.
The BoE did not respond to a request for comment.
Hillier told Reuters that increasingly sophisticated forms of generative AI were influencing financial decisions. “If something has gone wrong in the system, that could have a very big impact on the consumer,” she said.
Separately, Britain’s finance ‌ministry appointed Starling Bank CIO Harriet Rees and Lloyds Banking Group ‘s Rohit Dhawan as “AI Champions” to help steer AI adoption in financial services.