China Business

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A researcher displays a wafer at Shaanxi Institute of Advanced OEIC Technologies, in Xi’an on March 4, 2024. Photo: Xinhua

Tech War

China chip supply chain calls for ‘cooperation’ after broader US restrictions

Speakers at a Shanghai conference avoided commenting on the new restrictions, preferring to highlight the value of ‘global cooperation’.

6 hours ago

Business of climate change

China urges tie-ups for solar firms to navigate tariffs, trade tensions

5 Dec 2024 - 7:45PMvideocam

Temu, Shein halt Vietnam operations pending business registration

5 Dec 2024 - 6:32PM

China Economy

German firms seek fair competition in China as profits become ‘razor thin’

Automotive industry remains a cornerstone of German investment, but its carmakers are being challenged by local electric vehicle innovators.

5 Dec 2024 - 4:09PMvideocam

A person holds China’s national flag and a flag bearing the VW logo during a signing ceremony at the Volkswagen plant in Wolfsburg, Germany, in April 2012. Photo: AFP

China Business

Electric & new energy vehicles

Chinese carmaker GAC doubles down on Hong Kong appetite for EVs

The state-owned carmaker is ‘very optimistic’ about sales growth in the city as it introduces an SUV model with gull-wing doors.

5 Dec 2024 - 7:53PMvideocam

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.

5 Dec 2024 - 1:12PM

Blockchain

Digital currencies

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

Meitu netted US$80 million on bitcoin and ether holdings, exiting the crypto market amid a historic rally after the US re-elected Donald Trump.

5 Dec 2024 - 1:00PMvideocam

Climate and energy

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

China’s photovoltaic makers seek stricter market control amid price war and overcapacity, similar to those for the steel and cement industries.

5 Dec 2024 - 4:50PMvideocam

An employee check solar photovoltaic modules at a factory in Sihong, in Jiangsu province. The sector faces huge overcapacity in China. Photo: AFP

China Business

Hong Kong stock market

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

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

5 Dec 2024 - 4:22PM

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 Dec 2024 - 10:05AM

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

People crossing a busy street in Central, Hong Kong in October 2024. Photo: Dickson Lee

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

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 hours agovideocam

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

Guests arrived at the Hong Kong Funeral Home in North Point for Lui Che-woo’s funeral on 4 December 2024. Photo: Sam Tsang

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

The Standard Chartered logo on Tower 1 of Marina Bay Financial Centre in Singapore. Photo: Harvey Kong

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

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

Tencent has launched HunyuanVideo, a text-to-video generation tool. Photo: Screenshot

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

The logo of Semiconductor Manufacturing International Corp, pictured at the chipmaker’s facilities in Shanghai on March 15, 2024. Photo: AFP

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

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

Sanofi said the new plant in Beijing will be its fourth such facility on the mainland. 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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