#XRPETF China has seized Sand Cay in the South China Sea, which belongs to Vietnam, - FT.

Chinese military occupied the uninhabited island with Vietnamese facilities and a fishing station. They raised the flag of the People's Republic of China and declared the territory as theirs.

This is the first case in many years where Beijing has officially asserted control over new territory in the South China Sea. The island is located just a few kilometers from the Philippine island of Titu, which hosts one of Manila's main military bases. The seizure may escalate tensions between China, Vietnam, and the Philippines amid large-scale US-Philippine exercises in the region.