China Business

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Chinese workers celebrate the first Buick Excelle sedan to roll off the production line at General Motor’s new facility in eastern Shanghai’s Pudong district, in May 2005. Photo: AP Photo

China Business

GM’s China dream fades amid shift to EVs and rise of local rivals

Carmaker is restructuring its operations as it struggles to compete with domestic brands and shift to EVs.

2 hours ago

Digital currencies

China’s selfie app Meitu sells all crypto before bitcoin hit US$100,000

2 hours agovideocam

China’s solar industry calls for tougher rules to keep lights on

2 hours agovideocam

China Business

Hong Kong stock market

Hong Kong stocks drop from 3-week high before key China policy meeting

Stocks retreat from a three-week high as a new round of tech curbs suggests more troubles in US-China trade.

3 hours ago

Workers look at stock screens while an electronic board shows the Hang Seng Index on November 6, 2024. Photo: EPA-EFE

Big Tech

TikTok triples US sales on Black Friday despite looming ban

E-commerce sales on the app surged above US$100 million during the post-Thanksgiving shopping extravaganza.

5 hours ago

Banking & Finance

Banking & finance

Hong Kong needs to grow insurance talent to compete with Singapore, Dubai: CEOs

Lawrence Lam, Hong Kong CEO at Prudential, says data analysts have become more important than ever in the industry.

4 Dec 2024 - 9:18PM

Tech

Biomedicine: Companies

Hong Kong residents reticent to get latest Covid-19 jab, Moderna survey finds

About 52 per cent of Hong Kong respondents said they were willing to get the updated vaccine, compared with 58 per cent in Singapore.

4 Dec 2024 - 8:22PM

Moderna’s survey results indicate a “growing complacency” even as coronavirus variants continue to evolve. Photo: Shutterstock

Big Tech

Alibaba to sponsor China’s Lunar New Year gala to reach thrifty consumers

The e-commerce giant is sponsoring the most-watched broadcast in the world, as it seeks to revive growth amid tough competition and a slowing economy.

4 Dec 2024 - 6:30PM

The Spring Festival Gala is considered the most-watched broadcast in the world, pulling in hundreds of millions of viewers each Lunar New Year’s Eve. Photo: Weibo

Blockchain

Digital currencies

Bybit CEO says Chinese can trade crypto though VPN, but not with yuan

Bybit CEO Ben Zhou says the company plans to reapply for a Hong Kong licence next year even though regulators bar selling crypto to mainlanders.

4 Dec 2024 - 5:01PMvideocam

China Business

Hong Kong property

Farewell to Lui Che-woo: Hong Kong, Macau honour legendary tycoon

Dozens of politicians including several former chief executives and business leaders honour the real estate and casino magnate.

4 Dec 2024 - 8:53PM

Wealth

Wealth management

StanChart to hire more wealth managers in Hong Kong, Singapore by 2028

The UK lender is banking on winning new clients with more than US$10 million of assets in target markets.

4 Dec 2024 - 4:30PMvideocam

Big Tech

Artificial intelligence

Chinese facial recognition pioneer SenseTime pivots to GenAI

The company hopes to ‘better address the opportunities as well as challenges brought about by the AI 2.0 era’.

4 Dec 2024 - 3:30PM

SenseTime is officially pivoting to generative AI. Photo: Reuters

Commodities

Mitsubishi loses US$90 million in suspected China copper fraud

Mitsubishi dismissed Gong Huayong, a Shanghai-based copper trader at one of its China units, after finding that he had made unauthorised trades with local companies.

4 Dec 2024 - 12:07PM

Big Tech

Tencent launches its answer to OpenAI’s Sora text-to-video tool

HunyuanVideo is available for free to enterprise and individual users.

4 Dec 2024 - 12:03PM

China Business

Hong Kong stock market

Hong Kong stocks trade near 3-week high, led by SMIC, Trip.com

Investors weigh heightened US-China trade tensions versus prospect of additional economic stimulus measures.

4 Dec 2024 - 4:23PM

Big Tech

Chinese drone maker DJI fights to shake off ‘military’ tag

DJI was featured in a video published by The Financial Times on November 22, titled ‘Should the US ban Chinese drones’.

4 Dec 2024 - 11:21AMvideocam

Chinese Vice Premier Ding Xuexiang visits DJI Technology in Shenzhen, Guangdong Province, Oct. 13, 2023. Photo: Xinhua

Banking & Finance

Mergers & Acquisitions

China’s 2025 M&As may rise 15% as deals bottom out, UBS says

UBS says China M&A deal volume fell 10 per cent in November from a year earlier to US$297 billion.

4 Dec 2024 - 12:27PM

Policy

Biomedicine: Companies

China welcomes new US$1 billion Sanofi project in Beijing

Sanofi’s latest capital outlay in China will cover the development of a new insulin plant in the nation’s capital.

3 Dec 2024 - 8:00PM

Tech War

China industry bodies call for ‘caution’ in buying US chips amid latest sanctions

This initiative could deal a blow to the mainland businesses of Nvidia, Qualcomm and Intel.

4 Dec 2024 - 12:06AM

The China Semiconductor Industry Association says US chips are “no longer safe, no longer reliable”. Photo: Shutterstock

Big Tech

Alibaba Cloud aims high in Southeast Asia with new AI partners

China’s leading cloud services provider is prioritising investments in its operations across Indonesia, Thailand and other markets.

3 Dec 2024 - 6:30PM

Alibaba’s cloud unit is strengthening partnerships in Southeast Asia. Photo: CFOTO/Future Publishing via Getty Images

China Business

Record Shenzhen land sale is a confidence boost for China’s property market

China Overseas Land and Investment and China Resources Land snap up 263,000-square-metre parcel in Nanshan district.

3 Dec 2024 - 10:37PM

Policy

Renewable energy

China needs new clean-energy tech investments after wind and solar boom

Greater capital is required in areas such as energy storage, hydrogen and sustainable aviation fuel.

3 Dec 2024 - 4:42PM

China Business

China’s 10-year bond yield slumps to record low, pressuring yuan

‘Staggering’ new low signals ‘chilling risk forecast’ amid a deflationary spiral ‘eerily reminiscent’ of Japan’s long malaise, analyst says.

4 Dec 2024 - 5:00PM

The slump in bond yields complicates the central bank’s task of stabilising the yuan, which now faces more depreciation pressure. Photo: Shutterstock

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Chinese businesses ‘no longer interested in learning from overseas companies’, says Oliver Wyman Group CEO

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