https://www.scmp.com/rss/10/feed Corporate business news on companies from Hong Kong and overseas. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Julie Zhang Julie Zhang For Beijing-based METiS TechBio CEO Lai Tsai-ta, ageing is comparable to bugs building up in a complex software system – it happens once errors begin to accumulate in the genetic code of human cells, such as their DNA sequences. “Those errors can be reprogrammed. It becomes possible to use AI to read, rewrite and reverse cells, or at least slow the ageing process,” Lai said in an interview with the South China Morning Post. The process could begin by fixing “immune cells, such as T cells, as... https://www.scmp.com/business/china-business/article/3356154/targeting-us610-billion-longevity-market-biotech-firms-race-reverse-ageing?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3356154/targeting-us610-billion-longevity-market-biotech-firms-race-reverse-ageing?utm_source=rss_feed Sat, 06 Jun 2026 00:00:20 +0000 Daniel Ren Daniel Ren International marques have failed to sustain the market share they regained in China early this year after consumers fell back in love with electric vehicles (EVs), a sector where domestic brands continue to enjoy an overwhelming advantage. Foreign carmakers from Volkswagen to Toyota held a combined 30.3 per cent share of the Chinese automotive market in April, with about 418,140 vehicles handed to local customers, according to data from the China Passenger Car Association (CPCA). In the first... https://www.scmp.com/business/china-evs/article/3356147/chinese-evs-reclaim-momentum-tech-upgrades-incentives-squeeze-gains-foreign-marques?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3356147/chinese-evs-reclaim-momentum-tech-upgrades-incentives-squeeze-gains-foreign-marques?utm_source=rss_feed Fri, 05 Jun 2026 12:00:18 +0000 Enoch Yiu Enoch Yiu Hong Kong is set to attract top global fund managers to relocate to the city, as they will no longer need to pay salaries tax on performance-linked bonuses if they meet certain criteria under a proposed law change to be submitted to the Legislative Council, according to industry sources and academia. If passed, the measure would make Hong Kong the first major Asian financial centre to grant tax relief on such bonuses, reinforcing the city’s role as the world’s largest offshore wealth management... https://www.scmp.com/business/banking-finance/article/3356061/hong-kongs-proposed-bonus-tax-break-fund-talent-set-sharpen-edge-over-singapore?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3356061/hong-kongs-proposed-bonus-tax-break-fund-talent-set-sharpen-edge-over-singapore?utm_source=rss_feed Fri, 05 Jun 2026 06:30:27 +0000 Daniel Ren Daniel Ren Leading Chinese carmakers like BYD and Chery Automobile are reaping rewards from their efforts to boost sales abroad, as they chase higher profitability amid rising demand for electric vehicles (EVs). Chery, which spearheaded the go-global drive among mainland China’s automotive groups and is the country’s largest car exporter, delivered three times as many cars overseas as at home last month. The state-owned company, based in eastern China’s Anhui province, handed 181,571 vehicles to customers... https://www.scmp.com/business/china-business/article/3355982/chinese-carmakers-byd-chery-chart-80-growth-overseas-ev-demand-spikes?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355982/chinese-carmakers-byd-chery-chart-80-growth-overseas-ev-demand-spikes?utm_source=rss_feed Thu, 04 Jun 2026 12:30:16 +0000 Xinmei Shen Xinmei Shen Chinese artificial intelligence start-up DeepSeek took the top spot on a major US business spending index in June, as more companies swap out expensive American options like OpenAI and Anthropic in favour of more affordable alternatives. According to a “trending software vendors” list from New York-based corporate spending platform Ramp – which tracks when businesses buy from a software vendor for the first time – DeepSeek’s rise placed it ahead of event-management platform PheedLoop and... https://www.scmp.com/tech/tech-trends/article/3355927/more-us-firms-turn-chinas-deepseek-over-pricey-silicon-valley-ai?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3355927/more-us-firms-turn-chinas-deepseek-over-pricey-silicon-valley-ai?utm_source=rss_feed Thu, 04 Jun 2026 07:00:10 +0000 Peggy Ye Peggy Ye Beijing’s latest efforts to tighten oversight of cross-border capital flows have sparked concerns that a reduction in mainland demand for Hong Kong homes could impact the city’s recovering property market. The debate follows a series of measures unveiled in recent weeks, including tighter scrutiny of unauthorised offshore brokers and guidelines issued to crack down on illegal cross-border fund-transfer channels. The move has fuelled fears that mainland residents could face greater hurdles in... https://www.scmp.com/property/article/3355863/why-chinas-tighter-grip-outbound-capital-may-test-hong-kongs-housing-rebound?utm_source=rss_feed https://www.scmp.com/property/article/3355863/why-chinas-tighter-grip-outbound-capital-may-test-hong-kongs-housing-rebound?utm_source=rss_feed Wed, 03 Jun 2026 23:00:07 +0000 Daniel Ren Daniel Ren Tesla’s Shanghai Gigafactory recorded its strongest monthly deliveries of the year in May as a broader recovery in China’s electric vehicle market gathered pace, although the US carmaker is likely to face intensifying competition from domestic rivals launching a wave of new models. The factory in Shanghai’s Lingang free-trade zone delivered 85,982 Model 3 and Model Y vehicles last month, up 39.4 per cent from a year earlier and 8.2 per cent from April, according to Tesla China. The figure... https://www.scmp.com/business/china-business/article/3355810/teslas-china-sales-surge-2026-high-rivals-crowd-rear-view-mirror?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355810/teslas-china-sales-surge-2026-high-rivals-crowd-rear-view-mirror?utm_source=rss_feed Wed, 03 Jun 2026 08:05:43 +0000 Julie Zhang Julie Zhang Tiger Brokers reported a 17.5 per cent year-on-year jump in first-quarter operating profit in an announcement on Tuesday, without any mention of the looming punishment from China’s securities regulator over alleged unlicensed cross-border trading services. Tiger Brokers said its operating profit rose to US$47.6 million in the three months ended March 31, while revenue climbed 26.3 per cent from a year earlier to US$154.9 million. The growth was driven by a 536 per cent surge in Hong Kong trading... https://www.scmp.com/business/banking-finance/article/3355729/chinas-tiger-brokers-reports-strong-results-no-mention-trading-crackdown?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3355729/chinas-tiger-brokers-reports-strong-results-no-mention-trading-crackdown?utm_source=rss_feed Tue, 02 Jun 2026 13:00:18 +0000 Ben Jiang Ben Jiang Meituan is set to reap a sizeable financial windfall from its investments in frontier tech – including in fast-rising artificial intelligence company Zhipu AI – offering the Chinese food-delivery giant a timely boost after consecutive loss-making quarters. On Monday, Meituan posted an adjusted net loss of 4.97 billion yuan (US$735 million) for the three months ended March 31, marking its third consecutive losing quarter. At the same time, the company disclosed that its investments in firms like... https://www.scmp.com/tech/big-tech/article/3355723/us1b-windfall-how-meituans-bets-ai-robotics-outshine-quarterly-loss?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3355723/us1b-windfall-how-meituans-bets-ai-robotics-outshine-quarterly-loss?utm_source=rss_feed Tue, 02 Jun 2026 13:00:12 +0000 Zhu Wenqian Zhu Wenqian General Mills is following in the footsteps of Starbucks and Burger King by offloading its mainland China Haagen-Dazs stores to an investor group led by local chain Ningji Lemon Tea, in a move analysts see as a proactive revamp of foreign business models amid China’s fast-evolving competitive landscape. The deal is expected to boost profitability. “Fuelled by the rise of home-grown brands, China’s consumer market features fiercer competition and faster industry shifts than the global average,”... https://www.scmp.com/business/china-business/article/3355718/big-scoop-lemon-tea-chain-ningji-revamp-haagen-dazs-struggling-china-business?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355718/big-scoop-lemon-tea-chain-ningji-revamp-haagen-dazs-struggling-china-business?utm_source=rss_feed Tue, 02 Jun 2026 10:45:50 +0000 Zhang Shidong Zhang Shidong Chinese artificial intelligence companies are upending a decades-old dual-listing practice of selling shares domestically first and then in Hong Kong, as they reverse the sequence to anchor market-based valuations from global investors and tap more sophisticated capital to support growth. AI model developer MiniMax Group and peer Knowledge Atlas Technology, also known as Zhipu, spearheaded the new trend, saying they hired brokerages to prepare for mainland China stock offerings after completing... https://www.scmp.com/business/china-business/article/3355676/why-hong-kong-now-launch-pad-mainland-chinas-ai-champions?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355676/why-hong-kong-now-launch-pad-mainland-chinas-ai-champions?utm_source=rss_feed Tue, 02 Jun 2026 10:00:15 +0000 Daisy Wu Daisy Wu Enterprises across the Asia-Pacific region are investing heavily in artificial intelligence with limited evaluation of its effectiveness, driven largely by fears of being left behind, according to a survey released on Tuesday. Some 37 per cent of organisations in the region admitted to investing aggressively in AI with little assessment of outcomes – nearly double the global average of 20 per cent – according to the report by market consultancy International Data Corporation, commissioned by... https://www.scmp.com/business/banking-finance/article/3355642/fear-missing-out-why-asia-pacific-firms-pour-money-ai-despite-scant-returns?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3355642/fear-missing-out-why-asia-pacific-firms-pour-money-ai-despite-scant-returns?utm_source=rss_feed Tue, 02 Jun 2026 05:15:29 +0000 Daisy Wu Daisy Wu Food Republic, the Singaporean food court chain owned by BreadTalk Group, is set to close its last remaining outlet in Beijing on June 15, ending more than two decades in the Chinese capital, according to a notice outside the location in late May. Its closure comes amid a wave of store shutdowns among foreign and Hong Kong brands across mainland China. Many have struggled to adapt to the local market, hampered by outdated business models and fast-evolving consumer preferences. French department... https://www.scmp.com/business/china-business/article/3355586/food-republic-joins-wave-foreign-brands-retreating-china?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355586/food-republic-joins-wave-foreign-brands-retreating-china?utm_source=rss_feed Mon, 01 Jun 2026 23:00:06 +0000 Daniel Ren Daniel Ren Sales of electric vehicles (EVs) in China recovered on solid footing in May, as new models fitted with higher-performance batteries and more advanced driver assistance systems drew consumers amid intensified competition. Zeekr, a premium EV brand owned by Geely Auto, the country’s second-largest carmaker, and Stellantis-backed Leapmotor rewrote their monthly delivery records, the latest sign that local government subsidies have whetted consumers’ buying appetite for big-ticket items. Although... https://www.scmp.com/business/china-business/article/3355592/chinese-ev-makers-recover-may-competition-remains-fierce-amid-overcapacity-woes?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355592/chinese-ev-makers-recover-may-competition-remains-fierce-amid-overcapacity-woes?utm_source=rss_feed Mon, 01 Jun 2026 13:09:52 +0000 Julie Zhang Julie Zhang Akeso, whose drug ivonescimab was hailed as biotech’s “DeepSeek moment” amid US competition last year, announced better-than-expected clinical results showing it can treat a type of lung cancer commonly found in smokers, potentially expanding its approved uses. Analysts suggest it could become a backbone therapy in the US$20 billion global non-small cell lung cancer market and have revised their target prices upwards. The drug’s phase three trial found that ivonescimab reduced the risk of death... https://www.scmp.com/business/china-business/article/3355579/akeso-lung-cancer-drug-shines-trials-boosting-hopes-us20b-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355579/akeso-lung-cancer-drug-shines-trials-boosting-hopes-us20b-market?utm_source=rss_feed Mon, 01 Jun 2026 10:49:08 +0000 Wency Chen Wency Chen Unitree Robotics, one of the leading forces in mainland China’s booming humanoid robot sector, has cleared a major hurdle for its highly anticipated initial public offering (IPO) after passing a listing committee hearing on Monday. The Hangzhou-based company filed to list on Shanghai’s Star Market on March 20. Following two rounds of regulatory inquiries and an on-site inspection, the hearing approval opens the door for the IPO to proceed to registration and issuance. Unitree said it aimed to... https://www.scmp.com/tech/big-tech/article/3355538/unitree-clears-key-hurdle-shanghai-ipo-chinas-humanoid-robot-wave-gathers-pace?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3355538/unitree-clears-key-hurdle-shanghai-ipo-chinas-humanoid-robot-wave-gathers-pace?utm_source=rss_feed Mon, 01 Jun 2026 09:17:28 +0000 Zhang Shidong Zhang Shidong A semi-annual reshuffle of key gauges tracking China’s yuan-denominated stocks is set to boost the representation of technology companies, a move expected to lure more inflows and further increase the sector’s appeal, according to investment banks. The shake-up was projected to spur US$3.1 billion of inflows into tech hardware and semiconductor makers, according to Goldman Sachs. Domestic brokerages including Guosen Securities said the changes would inject more confidence into tech stocks,... https://www.scmp.com/business/china-business/article/3355523/china-index-reshuffle-entrench-tech-trades-and-boost-ai-rally-brokerages?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355523/china-index-reshuffle-entrench-tech-trades-and-boost-ai-rally-brokerages?utm_source=rss_feed Mon, 01 Jun 2026 09:00:06 +0000 Vincent Chow,Ann Cao Vincent Chow,Ann Cao Nvidia has partnered with Chinese robotics champion Unitree Robotics and Singapore robotic hand maker Sharpa to release a new humanoid robot reference design to accelerate innovation in the global humanoid industry, the US chip giant’s CEO, Jensen Huang, announced on Monday. The new design, called H2+ or Isaac GR00T, will support industry-wide humanoid robotics research by streamlining the full development workflow for developers, including data collection, policy training and real-world... https://www.scmp.com/tech/big-tech/article/3355402/nvidia-unitree-and-sharpa-unite-design-humanoid-robot-can-perform-real-work?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3355402/nvidia-unitree-and-sharpa-unite-design-humanoid-robot-can-perform-real-work?utm_source=rss_feed Mon, 01 Jun 2026 05:30:25 +0000 Enoch Yiu Enoch Yiu Hong Kong’s record-breaking insurance sales may face headwinds as mainland China visitors struggle to transfer large sums across the border to buy policies, after Beijing and the city’s regulators tightened rules, according to industry players and analysts. A spokeswoman for the Insurance Authority said the regulator was closely monitoring cross-border sales. “The Insurance Authority has been maintaining close communication with relevant mainland authorities on various regulatory matters,... https://www.scmp.com/business/banking-finance/article/3355451/hong-kongs-insurance-boom-risks-cooling-regulators-curb-mainland-china-fund-flows?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3355451/hong-kongs-insurance-boom-risks-cooling-regulators-curb-mainland-china-fund-flows?utm_source=rss_feed Mon, 01 Jun 2026 02:30:05 +0000 Themis Qi Themis Qi The focus of competition for Chinese electric vehicles (EVs) is shifting from prices to artificial intelligence capability, as carmakers try to manage weakening demand amid tightened regulations, according to Morgan Stanley. The push in AI would likely bring models with conditionally autonomous driving capability, or Level 3 (L3), to market, said Tim Hsiao, head of the Greater China auto and shared mobility research team at Morgan Stanley, in a recent interview with the South China Morning Post.... https://www.scmp.com/business/china-evs/article/3355400/chinese-ev-makers-shift-focus-price-wars-ai-capability-morgan-stanley?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3355400/chinese-ev-makers-shift-focus-price-wars-ai-capability-morgan-stanley?utm_source=rss_feed Sun, 31 May 2026 23:00:08 +0000 Enoch Yiu Enoch Yiu Charles Li Xiaojia, the longest-serving CEO of Hong Kong Exchanges and Clearing (HKEX), defined a decade of city finance by bridging the gap between Chinese and global capital. From his early days as an offshore oil worker in northeastern China to serving as chairman of JPMorgan Chase’s China division, Li’s career has resembled China’s own economic opening. In his 11 years as HKEX CEO before stepping down in 2021, Li masterminded the landmark Stock Connect schemes, linking Hong Kong with... https://www.scmp.com/business/china-business/article/3355333/hong-kong-must-embrace-bipolar-role-thrive-stage-30-ex-hkex-boss-charles-li?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355333/hong-kong-must-embrace-bipolar-role-thrive-stage-30-ex-hkex-boss-charles-li?utm_source=rss_feed Sun, 31 May 2026 22:00:09 +0000 Zhang Shidong Zhang Shidong MiniMax Group, the Chinese artificial intelligence model company, has officially kicked off plans to sell shares in mainland China. This offers onshore investors access to AI players beyond chipmakers and completes a dual-listing status in addition to Hong Kong. The Shanghai-headquartered company signed an agreement with Citic Securities on Friday, hiring the brokerage to help prepare for a sale of yuan-denominated shares. While other details on the listing are scant, it is widely expected that... https://www.scmp.com/business/china-business/article/3355418/ai-firm-minimax-prepares-mainland-china-listing-after-shares-surge-hong-kong?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355418/ai-firm-minimax-prepares-mainland-china-listing-after-shares-surge-hong-kong?utm_source=rss_feed Sun, 31 May 2026 08:15:23 +0000 Coco Feng Coco Feng Venture capitalists and industrial giants in China are aggressively backing developers of dexterous robotic hands – the toughest bottleneck in the global humanoid hardware arms race – in a funding blitz that is rapidly driving up start-up valuations. The latest capital injection was announced on Friday by Xynova. The Hangzhou-based start-up said it had completed a series A round from investors including the venture arms of smartphone maker Xiaomi and electric vehicle giant Li Auto, bringing... https://www.scmp.com/tech/article/3355365/unicorn-born-record-time-amid-arms-race-among-chinas-robotic-hand-developers?utm_source=rss_feed https://www.scmp.com/tech/article/3355365/unicorn-born-record-time-amid-arms-race-among-chinas-robotic-hand-developers?utm_source=rss_feed Sat, 30 May 2026 06:00:10 +0000 Enoch Yiu,Themis Qi Enoch Yiu,Themis Qi Stepping into the former trading hall in Exchange Square on Thursday was like walking through a doorway into the 1980s. Brokers, wearing the iconic red jackets of the period, stood alongside Cathay Pacific Airways flight attendants in retro uniforms, evoking memories of the hall before its closure. The special gong-striking ceremony in Central marked the 40th anniversary of the merger of Hong Kong’s four stock exchanges into the Stock Exchange of Hong Kong (SEHK). Cathay was the first company to... https://www.scmp.com/business/banking-finance/article/3355336/chip-boom-powers-hong-kong-stock-exchange-40-innovation-resilience-set-next-stage?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3355336/chip-boom-powers-hong-kong-stock-exchange-40-innovation-resilience-set-next-stage?utm_source=rss_feed Sat, 30 May 2026 02:00:09 +0000 Daniel Ren Daniel Ren China’s ambitious urban renewal projects, from upgrading dilapidated homes to rebuilding gas pipelines, are expected to require investment of at least 15 trillion yuan (US$2.2 trillion) in the five years from 2026, offering fresh growth opportunities for construction firms. Property developers also received a shot in the arm on Friday, after the State Council released a guideline on the urban renewal campaign, part of Beijing’s 15th five-year plan for 2026 to 2030. The overall investment could... https://www.scmp.com/business/china-business/article/3355357/chinas-us22-trillion-urban-renewal-plan-boost-construction-property-sectors?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355357/chinas-us22-trillion-urban-renewal-plan-boost-construction-property-sectors?utm_source=rss_feed Fri, 29 May 2026 12:33:10 +0000 Zhang Shidong Zhang Shidong Lenovo Group has unexpectedly emerged as the best performer on the Hang Seng Index this year after its shares more than doubled, as optimism builds that the Chinese personal computer (PC) maker will become more reliant on artificial intelligence for growth. The stock surged 22 per cent to HK$24 in Hong Kong on Friday, extending its gain so far in 2026 to 159 per cent, ranking first among the 90 constituent members of the city’s stock market benchmark indicator. Lenovo’s gain was more than three... https://www.scmp.com/business/china-business/article/3355310/lenovos-status-hang-seng-index-top-performer-2026-validates-ai-push?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355310/lenovos-status-hang-seng-index-top-performer-2026-validates-ai-push?utm_source=rss_feed Fri, 29 May 2026 09:17:16 +0000 Peggy Ye Peggy Ye Futu Holdings disclosed that its mainland Chinese clients account for about one-fifth of its assets and revenue after it reported a 61.2 per cent drop in first-quarter profit, as analysts warned Beijing’s latest crackdown on cross-border trading will weigh on earnings growth in the near term. The Nasdaq-listed Chinese online brokerage reported net profit of HK$831 million (US$106 million) in the three months ended March 31, down from HK$2.15 billion a year earlier, after booking a 1.85 billion... https://www.scmp.com/business/article/3355280/futu-first-quarter-profit-down-61-following-us272-million-regulatory-fine?utm_source=rss_feed https://www.scmp.com/business/article/3355280/futu-first-quarter-profit-down-61-following-us272-million-regulatory-fine?utm_source=rss_feed Fri, 29 May 2026 06:32:31 +0000 Julie Zhang Julie Zhang China’s Innovent Biologics has signed a global collaboration with pharmaceutical giant Pfizer worth up to US$10.5 billion to jointly develop 12 cancer treatment programmes. The Hong Kong-listed drug maker said it would receive an upfront payment of US$650 million from Pfizer, and it is eligible for up to US$9.85 billion tied to development, regulatory and commercial milestone payments, according to an exchange filing on Friday. Innovent, which is based in Suzhou in China’s eastern Jiangsu... https://www.scmp.com/business/china-business/article/3355269/chinas-innovent-biologics-signs-us105-billion-pfizer-deal-12-cancer-drug-trials?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355269/chinas-innovent-biologics-signs-us105-billion-pfizer-deal-12-cancer-drug-trials?utm_source=rss_feed Fri, 29 May 2026 05:29:03 +0000 Zhang Shidong Zhang Shidong China launched the sale of 6 billion yuan (US$886 million) of green sovereign bonds in Hong Kong late on Thursday night, the first such offering in the city, as Beijing doubles down on the efforts to boost its presence in offshore debt markets and seeks funding to support climate action amid the oil shock. The sale drew a good response, indicating global investors’ confidence in the yuan assets, said HSBC Holdings, a joint lead manager and bookrunner of the bond issuance. Demand was fuelled by... https://www.scmp.com/business/banking-finance/article/3355247/china-launches-first-green-bond-sale-hong-kong-aiming-raise-us886-million?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3355247/china-launches-first-green-bond-sale-hong-kong-aiming-raise-us886-million?utm_source=rss_feed Fri, 29 May 2026 03:01:28 +0000 Daniel Ren Daniel Ren Chinese electric vehicle (EV) makers are speeding up their pivot to the premium segment, where they hope to secure higher profit margins and dodge the cutthroat market’s most vicious price competition. New models launched by carmakers including Nio and Seres also mount a challenge to Tesla’s bestselling Model Y in the world’s largest EV market. “Intensified efforts to gain ascendancy in the premium segment show the carmakers’ confidence in their technologies,” said Chen Jinzhu, CEO of... https://www.scmp.com/business/china-business/article/3355201/premium-plan-chinas-ev-makers-pin-hopes-high-end-models-buttress-margins?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355201/premium-plan-chinas-ev-makers-pin-hopes-high-end-models-buttress-margins?utm_source=rss_feed Thu, 28 May 2026 23:00:06 +0000 Julie Zhang Julie Zhang BYD, the world’s largest electric vehicle (EV) maker, has set its sights on achieving zero traffic accidents through self-developed autonomous driving technology, aiming to assemble next-generation cars affordable for mass consumers. Founder and chairman Wang Chuanfu told a press conference in Shenzhen on Thursday that BYD’s “God’s Eye” advanced driver-assistance system would be priced at just 12,000 yuan (US$1,770). The system allows drivers to go “hands off”, with BYD pledging to cover any... https://www.scmp.com/business/china-evs/article/3355217/chinas-byd-aims-zero-accidents-gods-eye-vows-crash-cost-coverage?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3355217/chinas-byd-aims-zero-accidents-gods-eye-vows-crash-cost-coverage?utm_source=rss_feed Thu, 28 May 2026 14:40:35 +0000 Vincent Chow Vincent Chow A new Chinese artificial intelligence agent platform is looking to replicate the “lobster craze” sparked by AI agent tool OpenClaw earlier this year, while avoiding some of the privacy and security risks associated with the open-source software. MuleRun, developed by Chinese tech giant Alibaba Group Holding, offers a one-stop service for users to access a range of different AI agents. The platform, showcased at the Alibaba Cloud summit on May 20, has been billed as an “always-on AI workforce”... https://www.scmp.com/tech/big-tech/article/3355175/why-mulerun-could-be-next-craze-new-alibaba-ai-agent-platform-promises-safer-adoption?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3355175/why-mulerun-could-be-next-craze-new-alibaba-ai-agent-platform-promises-safer-adoption?utm_source=rss_feed Thu, 28 May 2026 13:00:06 +0000 Peggy Ye Peggy Ye China Asset Management (Hong Kong) launched a new gold exchange-traded fund (ETF) on Thursday, giving retail investors low-cost access to physical gold as the city pushes to link traditional financial products with digital-asset infrastructure. The ChinaAMC Digital Gold ETF, to be listed on the Hong Kong stock exchange on Friday, carries a 0.4 per cent management fee and a minimum board lot investment of about HK$355 (US$45) – lower than all existing gold ETF products in the city – as the firm... https://www.scmp.com/business/banking-finance/article/3355194/chinaamc-launches-low-cost-gold-etf-hong-kong-links-bullion-trading-blockchain?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3355194/chinaamc-launches-low-cost-gold-etf-hong-kong-links-bullion-trading-blockchain?utm_source=rss_feed Thu, 28 May 2026 12:12:58 +0000 Themis Qi Themis Qi Contemporary Amperex Technology Ltd (CATL) hopes to use its energy-storage business to build on its global dominance in electric vehicle (EV) batteries, as the global oil crisis creates a surge in demand for its technologies and products. The company, which commands nearly 40 per cent of the world’s EV battery market, announced on Thursday the official launch of a 3 billion yuan (US$442.52 million) research facility in Xiamen, a city in China’s southeastern Fujian province. The Xiamen Energy... https://www.scmp.com/business/china-business/article/3355190/catl-set-boost-global-energy-storage-worlds-largest-testing-facility-xiamen?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355190/catl-set-boost-global-energy-storage-worlds-largest-testing-facility-xiamen?utm_source=rss_feed Thu, 28 May 2026 11:30:06 +0000 Xinmei Shen,Vincent Chow Xinmei Shen,Vincent Chow Chinese artificial intelligence (AI) company MiniMax says it recorded a fivefold surge in its global enterprise and developer client base over the past six months, highlighting the sharp expansion of its international footprint, even as the Hong Kong-listed firm grapples with widening financial losses. The number of clients and developers using MiniMax recently surpassed 1 million, up from about 200,000 half a year ago, co-founder and president Yun Yeyi said at the UBS Asian Investment... https://www.scmp.com/tech/tech-trends/article/3355156/chinas-minimax-records-1-million-client-base-fivefold-growth-half-year?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3355156/chinas-minimax-records-1-million-client-base-fivefold-growth-half-year?utm_source=rss_feed Thu, 28 May 2026 09:00:05 +0000 Daniel Ren Daniel Ren Global investors’ appetite for Chinese equities, companies and assets continues to rise owing to rapid technological advancements and low valuations in the world’s second-largest economy, according to JPMorgan Chase. Kwang Kam Shing, Hong Kong CEO and chair for North Asia at the biggest US bank, said that there remained significant potential for growth in foreign investment across Hong Kong and mainland China, as investors continued to demonstrate strong interest in uncovering new opportunities,... https://www.scmp.com/business/banking-finance/article/3355074/appeal-china-assets-keeps-rising-among-global-investors-jpmorgan-research-says?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3355074/appeal-china-assets-keeps-rising-among-global-investors-jpmorgan-research-says?utm_source=rss_feed Thu, 28 May 2026 02:00:11 +0000 Julie Zhang Julie Zhang Home-grown innovative drugs make up most of the medicines China’s drug regulator has approved for sale so far this year, underscoring the country’s biotech boom. Of the 19 innovative drugs cleared by the National Medical Products Administration (NMPA), 15 came from domestic companies, according to the regulator’s website as of May 21. These include sonrotoclax, developed by global biopharmaceutical firm BeOne, for treating certain adult blood cancers. The regulator overhauled its approval... https://www.scmp.com/business/china-business/article/3355021/chinas-drug-regulator-clears-wave-home-grown-innovative-medicines-amid-biotech-boom?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355021/chinas-drug-regulator-clears-wave-home-grown-innovative-medicines-amid-biotech-boom?utm_source=rss_feed Wed, 27 May 2026 13:00:08 +0000 Daniel Ren Daniel Ren Hong Kong has overtaken Switzerland as the world’s largest cross-border wealth hub, driven by an initial public offering (IPO) bonanza and capital inflows from mainland China, according to Boston Consulting Group (BCG). Cross-border wealth booked in Hong Kong climbed 10.7 per cent in 2025 to US$2.95 trillion, narrowly beating Switzerland’s US$2.94 trillion after rising 7.6 per cent last year, the international consultancy said in its latest global wealth report released on Wednesday. “These... https://www.scmp.com/business/banking-finance/article/3355055/hong-kong-overtakes-switzerland-worlds-largest-cross-border-wealth-hub-bcg-finds?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3355055/hong-kong-overtakes-switzerland-worlds-largest-cross-border-wealth-hub-bcg-finds?utm_source=rss_feed Wed, 27 May 2026 11:16:37 +0000 Minxiao Chang Minxiao Chang Alibaba Group Holding’s latest artificial intelligence model has clinched a top-tier spot on a major global coding leaderboard, making the Chinese technology giant the only developer other than Anthropic to break into the ranking’s top five spots. Qwen3.7-Max, Alibaba’s latest AI model, scored 1,541 on the Code Arena ranking to claim the fourth spot globally, placing it ahead of rival models from OpenAI and Google. The other four spots in the top five were held by various iterations of Claude... https://www.scmp.com/tech/tech-trends/article/3355039/alibabas-new-ai-model-scores-higher-openai-google-rivals-coding-ranking?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3355039/alibabas-new-ai-model-scores-higher-openai-google-rivals-coding-ranking?utm_source=rss_feed Wed, 27 May 2026 10:00:15 +0000 Zhang Shidong Zhang Shidong BOE Technology is on investors’ radar screens again after announcing its foray into a business linked to artificial intelligence infrastructure, causing the stock price of the Chinese maker of liquid-crystal displays (LCDs) to rally following years of listlessness. Yuan-denominated shares of the world’s biggest LCD maker have surged more than 30 per cent in Shenzhen over the past week after the company said last week that it would partner with Corning, the US manufacturer of optical fibres and... https://www.scmp.com/business/china-business/article/3355026/30-rally-boe-tech-shows-how-ai-buildout-can-galvanise-chinese-lcd-maker?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3355026/30-rally-boe-tech-shows-how-ai-buildout-can-galvanise-chinese-lcd-maker?utm_source=rss_feed Wed, 27 May 2026 08:59:49 +0000 Peggy Sito Peggy Sito Hong Kong’s lived-in home prices rose for the 11th consecutive month to a 30-month high in April, even as the rate of growth slowed compared with March, while rents in the city rose to another record high. Analysts said home prices in both primary and secondary markets would continue to improve this year and next, amid growing buyer confidence. According to the Rating and Valuation Department’s data, the private lived-in home price index in the city rose to 316.6 in April, representing a 0.89... https://www.scmp.com/business/article/3354994/hong-kong-home-prices-reach-30-month-high-april-while-rents-set-another-record?utm_source=rss_feed https://www.scmp.com/business/article/3354994/hong-kong-home-prices-reach-30-month-high-april-while-rents-set-another-record?utm_source=rss_feed Wed, 27 May 2026 05:58:09 +0000 Iris Deng,Ann Cao Iris Deng,Ann Cao Huawei Technologies’ unveiling of a chip architectural workaround to bypass US sanctions marks a major step towards China’s semiconductor self-sufficiency, giving Beijing powerful new leverage in its tech tug of war with Washington, analysts say. The Chinese tech giant captured global attention on Monday by introducing the new Tau (τ) Scaling Law, which it said lay the groundwork for Huawei to achieve transistor density equivalent to a 1.4-nanometre process in high-end chips by 2031. If proven,... https://www.scmp.com/tech/big-tech/article/3354938/another-deepseek-moment-huawei-milestone-alters-china-trajectory-chip-race-analysts?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3354938/another-deepseek-moment-huawei-milestone-alters-china-trajectory-chip-race-analysts?utm_source=rss_feed Wed, 27 May 2026 03:00:09 +0000 Themis Qi Themis Qi Xiaomi, the first Chinese Tesla killer after its SU7 sedan outsold Model 3, is now aiming to unseat Model Y, China’s bestselling SUV, with its upgraded YU7 due to its low-cost advantage. This followed the firm’s first-quarter net profit missing market estimates, as rising memory chip costs continued to drag its smartphone businesses, leaving its electric vehicles (EV) – Xiaomi’s second-largest revenue contributor – to keep growing. Xiaomi’s shares dived to a 12-month low of HK$28.24 on Wednesday... https://www.scmp.com/business/china-evs/article/3354964/xiaomi-out-scalp-musks-bestselling-suv-china-its-upgraded-and-low-cost-model?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3354964/xiaomi-out-scalp-musks-bestselling-suv-china-its-upgraded-and-low-cost-model?utm_source=rss_feed Wed, 27 May 2026 01:43:53 +0000 Julie Zhang Julie Zhang Hong Kong-listed artificial intelligence drug-discovery company Insilico Medicine has struck a collaboration with US-headquartered Human Longevity to co-develop what they describe as “the industry’s first large-scale” AI foundation models capable of predicting diseases – such as cancer – decades before clinical symptoms appear. The partnership was announced as the global longevity market, fuelled by an ageing population and rising consumption demand, was valued at about US$5.3 trillion and... https://www.scmp.com/business/china-business/article/3354923/insilico-teams-us-firm-build-ai-models-predicting-disease-decades-ahead?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3354923/insilico-teams-us-firm-build-ai-models-predicting-disease-decades-ahead?utm_source=rss_feed Wed, 27 May 2026 00:30:06 +0000 Daniel Ren Daniel Ren S&P Global Ratings has revised its outlook on Zijin Mining, mainland China’s largest mining company, to positive on the back of expanded production and stronger cost management. The outlook was raised from “stable” to “positive”, with S&P maintaining its “BBB” long-term issuer credit rating for Zijin, according to a statement on Tuesday. The upgrade reflected expectations that Zijin could rank among the world’s top three gold and copper producers by 2028, supported by a robust pipeline of... https://www.scmp.com/business/china-business/article/3354940/chinas-zijin-mining-outlook-raised-positive-stronger-output-and-cost-edge-sp?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3354940/chinas-zijin-mining-outlook-raised-positive-stronger-output-and-cost-edge-sp?utm_source=rss_feed Tue, 26 May 2026 13:41:59 +0000 Themis Qi Themis Qi The technological competitiveness of Chinese companies is set to accelerate their overseas expansion, especially in the power and carmaking sectors, with offshore contributions projected to reach a record high within five years, according to UBS. Mainland-listed non-financial companies were estimated to derive 25 per cent of their revenue from offshore markets by 2030, which would be up from 18.7 per cent last year and mark the highest level since 2003, according to the Swiss bank. The latest... https://www.scmp.com/business/china-business/article/3354898/tech-strength-lift-chinese-firms-overseas-revenues-record-high-within-5-years-ubs?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3354898/tech-strength-lift-chinese-firms-overseas-revenues-record-high-within-5-years-ubs?utm_source=rss_feed Tue, 26 May 2026 09:40:20 +0000 Brian Rhoads Brian Rhoads Chinese billionaire Leaf Li lost more than a quarter of his fortune on Friday after Beijing announced a crackdown on online brokerages offering unauthorised cross-border trading. Li’s wealth fell by US$1.7 billion, to US$4.7 billion, amid a stock rout for Futu Holdings, the company he founded and runs as chief executive officer, Bloomberg News said, citing its billionaires index. The tycoon’s fortune, which has halved since October, is mainly derived from his stake in US-listed Futu. Hong... https://www.scmp.com/plus/news/china/money-wealth/article/3354891/china-online-brokerage-crackdown-trims-billionaire-owners-wealth?utm_source=rss_feed https://www.scmp.com/plus/news/china/money-wealth/article/3354891/china-online-brokerage-crackdown-trims-billionaire-owners-wealth?utm_source=rss_feed Tue, 26 May 2026 09:08:47 +0000 Cheryl Arcibal Cheryl Arcibal Student housing is tipped to be a top choice among investors in mainland China’s property market as demand continues to outstrip supply for suitable accommodation for university students, according to analysts. Interest in investment in the student housing segment – particularly in mainland China, Hong Kong and Australia – has risen, according to property consultancy CBRE. “Much of this increase is being driven by mainland China, which has seen a surge in interest this year on the back of steady... https://www.scmp.com/business/article/3354825/chinas-student-housing-offices-top-property-investment-options-amid-pricing-slump?utm_source=rss_feed https://www.scmp.com/business/article/3354825/chinas-student-housing-offices-top-property-investment-options-amid-pricing-slump?utm_source=rss_feed Tue, 26 May 2026 03:02:57 +0000 Daniel Ren Daniel Ren Fast-food restaurants in mainland China have found a magic bullet for both health and company profit: offering consumers meal options that limit sugar and salt and provide balanced nutrition. Lighter meals are rising in popularity in China, with an estimated consumer base of about 33 million across the country, and are becoming a game-changer in the food and drink sector, with big-name restaurant chains like KFC seeking to capitalise on the rising trend. Yum China, the owner of KFC and Pizza Hut... https://www.scmp.com/business/china-business/article/3354801/new-battlefront-kfc-and-its-chinese-rivals-lighter-meal?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3354801/new-battlefront-kfc-and-its-chinese-rivals-lighter-meal?utm_source=rss_feed Tue, 26 May 2026 01:00:16 +0000 Themis Qi Themis Qi Twenty-six US semiconductor firms, from Qualcomm to Nvidia, saw their China revenue climb by an average of 20 per cent last year, despite trade tensions, according to a new analysis. The data, featured in the latest “Hurun Top 100 US Enterprises in China 2026” report released by the Hurun Research Institute on Monday, tracks the performance of 100 publicly listed American companies based on their revenue in China last year. Among the top 100 earners in China, 26 were from the semiconductor... https://www.scmp.com/business/china-business/article/3354805/us-chipmakers-china-see-revenue-rise-defying-trade-tensions-hurun-list?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3354805/us-chipmakers-china-see-revenue-rise-defying-trade-tensions-hurun-list?utm_source=rss_feed Mon, 25 May 2026 15:03:11 +0000