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Shanghai
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Shanghai

Shanghai
Shanghai
With a population of more than 24 million, Shanghai, is a major centre for finance, business and economics, science and technology, and fashion, among other disciplines. It is home to the Port of Shanghai, the world’s busiest container port, and Shanghai Pudong International Airport, one of the world’s 10 busiest airports by passenger traffic.
Head of Government
Party Secretary of Shanghai Chen Jining
Moonshot’s flagship Kimi K2.5 was named one of the strongest open models in the world by third-party benchmark firm Artificial Analysis. Photo: Shutterstock Images
Artificial intelligence

Moonshot AI targets US$12 billion valuation as revenue surges for Kimi models

The latest round was jointly led by existing investors including Alibaba, Tencent, Andon and 5Y Capital, according to a source.

China property

Sofa so bad: China’s home-furnishing sector hits a do-or-die stretch

Retailing

Sam’s Club cracks China market formula even as foreign retailers shut shop

Japan

Russia emerges as unlikely growth market for Japan tourism as China pulls back

New visa centres in Moscow and St Petersburg reflect a sharp rise in Russian demand as Chinese arrivals fall amid diplomatic tensions.

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Foreign tourists wearing Japanese traditional kimono clothes pose for a photograph near Sensoji temple at Asakusa district, a popular sightseeing spot in Tokyo. Photo: Reuters
Food and Drinks

This TCM bar in China makes customers drinks based on its doctor’s diagnoses

Shanghai bar Niang Qing is one of many new traditional Chinese medicine bars that offer bespoke wellness to China’s stressed-out youth.

China's economic recovery

China’s Xi prioritises ‘AI-plus’ and consumer spending to counter economic risks

Previously unreleased comments by Xi urge income growth and tech breakthroughs, potentially setting stage for measures ahead of March’s parliamentary meetings.

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Artificial intelligence

Humanoids go mainstream as China’s robotics champions appear at CCTV spectacle

ByteDance, Unitree, RedNote, Bilibili and Kuaishou among the firms involved in the unparalleled nationwide marketing opportunity.

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Bot the star of the show: a dancing robot delights during China Central Television’s Spring Festival Photo: CCTV
China property

Green shoots for China property? Maybe – but the turnaround’s still shaky

Home-price declines eased in January and policy support is building, but analysts warn oversupply continues to cloud the outlook.

Taiwan

Over 3 million Taiwanese visited mainland China in 2025, Taipei says

Taiwanese media attributes slow post-pandemic recovery to cross-strait tensions, partial travel bans.

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Artificial intelligence

The AI future is now, and markets are reacting differently in the US and China

Investor jitters grow in the US as AI reshapes expectations, but China’s markets have so far reacted with caution rather than panic.

Software-as-a-service (SaaS) stocks came under pressure this week amid concerns their business models could be undermined in an AI-driven economy. Photo: AFP
China property

No floor yet: China home prices keep falling despite policy support

Monthly declines narrowed in January, yet worsening year-on-year prices suggest housing pressures persist.

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Chill wind: analysts say China’s nationwide home prices have not yet shown signs of stabilisation. Photo: EPA

Video | Sinkhole appears in Shanghai

The section was closed for repairs and no injuries were reported.

IPO

Will Chinese AI chip designer Enflame’s Shanghai IPO be another blockbuster?

Tencent-backed Enflame’s listing on the Star Market could follow successful recent flotations from peers Moore Threads, MetaX and Biren.

Electric & new energy vehicles

China’s efforts to control EV price war sees carmakers paying vendors quicker

Only a handful of the nearly 50 mainland China-based EV builders have been able to turn a profit amid the price wars.

An aerial drone photo taken on January 14, 2026, shows domestically produced vehicles for export at Yantai Port in east China’s Shandong Province. Photo: Xinhua
Artificial intelligence

China’s Zhipu AI launches new major model GLM-5 in challenge to its rivals

The GLM-5 represents a shift in AI development from ‘vibe coding’ to ‘agentic engineering’ to generate an enhanced performance.

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Zhipu AI, known internationally as Z.ai, says that the new GLM-5 represents a significant shift in AI development. Photo: Shutterstock
South Korea

South Koreans swap ancestral rites for Japan getaways this Lunar New Year

Short holidays and a weak yen drive the ‘aeroplane instead of the ancestral table’ trend.

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Robotics

Opinion | For clues to China’s next overcapacity cycle, watch the Spring Festival Gala

AI robots taking centre stage at the coming Spring Festival Gala – now a national tech showcase – will signal official endorsement and likely trigger herd investment.

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Hong Kong stock market

Sudden closure of Chinese restaurant chain’s outlets leaves diners in limbo

Operator Shanghai XNG Holdings suspends operations at 10 branches on the mainland, saying the closures are part of a strategic realignment.

Shanghai XNG Holdings reached a peak of more than 100 outlets across its brands in 2015. Photo: Weibo
China-Japan relations

How Takaichi’s big win in Japan may complicate Beijing’s Taiwan policy

Taiwan’s opposition leader warns against ‘being reduced to a pawn in strategic competition’, urges efforts to prevent conflict in strait.

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Semiconductors

Shanghai boosts chip fund 11-fold in China’s self-reliance push

Registered capital increases by US$794 million as country’s semiconductor hub strives to nurture local firms.

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Yuan

China keen to realise ambitions for digital currency amid slow uptake

Despite record transactions last year, most users prefer alternatives – while Beijing likely to maintain gradual expansion, analysts say.

A booth promoting the digital yuan in Beijing on September 2, 2022. Photo: AP
Banking & finance

China slashes wait times for loss-making tech firms seeking refinancing, fundraising

Three of China’s stock exchanges have relaxed fundraising time thresholds on listed tech companies as Beijing pushes for self-reliance.

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People walk past the Shanghai Stock Exchange Building in Shanghai, China. Photo: EPA-EFE
China travel

China’s cruise industry passes major milestone as Beijing eyes travel boom

As domestic liner handles 1 millionth passenger, Beijing says it aims to turn yachts and cruise ships into major new consumption drivers.

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China’s private sector

Before the factory floor, the dance floor: robots find path to market at US$145

Humanoid robots may one day transform factories and warehouses, but for now their most immediate role is keeping the party going.

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Cryptocurrency

Scams and outflows: why China slammed the door on real-world asset tokens

Beijing’s clampdown aims to help safeguard financial security and monetary sovereignty while leaving room for regulated fintech innovation in Hong Kong.

Stablecoins represent the most widely adopted use case for real-world assets on blockchains. Photo: Shutterstock
Electric & new energy vehicles

Pony AI and Toyota roll out robotaxis in China’s autonomous drive push

Guangzhou-based Pony AI begins output of 1,000 autonomous cabs and targets a 3,000-unit fleet by the end of 2026 as it expands globally.

Pony AI is one of three robotaxi firms that have received approval from authorities to operate driverless cabs on designated roads in cities like Beijing and Shanghai. Photo: Handout
Artificial intelligence

China’s AI arms race sees sector brace for major flagship model launch week

A ‘stealth’ model has emerged, while advancements by Alibaba’s Qwen-3.5 and Zhipu’s GLM-5 aim to spur domestic competition following releases by US heavyweights.

Accidents and personal safety

Worker scalded by hot oil at biodiesel facility in Hong Kong

Police alerted in early hours of Sunday after man, 33, sustained burns while on duty at ASB Biodiesel facility in Tseung Kwan O.

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