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A view of Exchange Square in Central. Photo: Jelly Tse
Semiconductors

As AI pushes data centres to breaking point, some Chinese chipmakers bet on SiC

Basic Semiconductor is the latest firm in the space to move forward with an IPO.

Electric & new energy vehicles

China’s heavy trucks are going electric, and abroad, paving the road to net-zero freight

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Retailing

Xtep opens first Saucony store in Hong Kong, eyes more premium retail sites

Electric & new energy vehicles

EV influx, US rare earth miners blacklisted, China-EU trade talks

This week: Automakers ready to debut 150-plus EVs before year-end, China blacklists US companies including rare earth miners, foreign businesses encouraged to sell shares in China. Next week: Commerce Minister Wang Wentao heads to Brussels, new overseas investment rules take effect, June factory activity data release and more.

Photo: AFP
Photo: AFP
China’s private sector

China’s unicorns rise to 381 as ByteDance ranks in top 3 globally: Hurun index

The tech firm is valued behind only OpenAI and Anthropic – while DeepSeek enters the global top 15.

Electric & new energy vehicles

Banking on it: Chinese EVs expand their global footprint

With a boost in global exports offsetting domestic dips, banks forecast significant growth in overseas markets – especially western Europe.

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Hong Kong stock market

Hang Seng Index caps worst week in over a year amid tech sell-off

Signs of an unwinding of record-high leveraged bets on AI stocks in South Korea and Taiwan sours sentiment in Asian trading.

A view of Exchange Square in Central, site of the headquarters of bourse operator Hong Kong Exchanges and Clearing. Photo: Jelly Tse
A view of Exchange Square in Central, site of the headquarters of bourse operator Hong Kong Exchanges and Clearing. Photo: Jelly Tse
Electric & new energy vehicles

How 156 new car models could trigger a ‘do-or-die’ crisis in China’s EV market

A record wave of launches – mostly EVs – threatens to overwhelm demand, forcing smaller players into a fight for survival.

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Banking & finance

Hong Kong’s IPO Connect push: why investors see it as the next frontier

Calls grow to further expand Hong Kong’s connect scheme with mainland China markets amid drive for deeper capital flows.

China’s private sector

China’s Trip.com faces revenue slowdown, warns of ‘significant fine’ from probe

Country’s top travel site signals turbulence ahead amid rising energy costs, geopolitical tensions and mounting regulatory pressure.

Passengers walk out of the arrivals hall of the Guangzhou Baiyun International Airport in Guangdong province. Photo: Xinhua
Mainland China

Brazil eyes China ties to boost green investments and aid low-carbon transition

Brazilian Finance Minister Dario Durigan speaks at green finance round table in Beijing co-organised by AIIB.

Dario Durigan, Brazil’s Minister of Finance, speaks with the media in Beijing on Thursday. Photo: Reuters
Dario Durigan, Brazil’s Minister of Finance, speaks with the media in Beijing on Thursday. Photo: Reuters
Semiconductors

China’s Big Fund becomes SMIC’s third-largest shareholder after record buyout

The landmark deal consolidates the Big Fund as third largest owner of SMIC, China’s largest wafer foundry.

Hong Kong stock market

Hang Seng Index briefly slips below 23,000 as Alibaba leads tech sell-off

Alibaba led Hong Kong tech stocks lower, pushing the Hang Seng briefly below 23,000 as AI and consumer worries hit sentiment.

Electric & new energy vehicles

Top CATL boss cools expectations over next major leap in EV batteries

Robin Zeng Yuqun addresses expectations at ‘Summer Davos’ on whether the battery technology would be available in the near future.

Robin Zeng Yuqun, head of the world’s largest electric vehicle (EV) battery maker, CATL, at the World Economic Forum’s Annual Meeting of the New Champions, also known as "Summer Davos", held in Dalian, in northeast China’s Liaoning province. Photo: Weibo
Banking & finance

Can Shanghai’s offshore finance push test Hong Kong’s dominance?

Beijing is accelerating Shanghai’s offshore finance ambitions, raising questions over whether Hong Kong’s long-held edge can endure.

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Shanghai is seeking to expand its offshore finance business under a new action plan backed by Beijing. Photo: Getty Images
Shanghai is seeking to expand its offshore finance business under a new action plan backed by Beijing. Photo: Getty Images
Banking & finance

Southbound Stock Connect flows surge to record US$152b amid Hong Kong IPO boom

Average daily southbound turnover soared 84 per cent year on year to HK$124.1 billion, equal to 24 per cent of city’s total market turnover.

Huawei

Danish court orders state to pay telecoms firm US$12m for Huawei gear removal

Court in Copenhagen says Huawei gear removal from TDC NET’s network went beyond regulation, entitling Danish firm to damages.

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Yuan

Hong Kong readies offshore yuan initiatives after Shanghai move

Beijing is supporting the development of offshore yuan trading as part of a broader drive to boost the Chinese currency’s global role.

Hong Kong Financial Secretary Paul Chan Mo-po. Photo: SCMP
Hong Kong Financial Secretary Paul Chan Mo-po. Photo: SCMP
Hong Kong stock market

Hong Kong stocks rebound from choppy trading triggered by turmoil in US

Hang Seng Index bounces back after overnight plunge in Nasdaq-100 on concerns about frothy tech valuations.

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China’s private sector

China is fretting over a demographic crisis – but what companies might benefit?

Goldman Sachs says pharmaceutical, biotech sectors could see strongest tailwinds, while car industry, tech hardware makers may struggle.

Hong Kong property

Creditors push to sell 2 Hong Kong hotels amid banks’ drive to cut losses

Dual-branded Sheraton complex heads for tender, with stricter capital rules pushing lenders to accept quicker disposals.

Savills is holding a formal tender that is expected to close on August 31 for the 1,219-room property on Lantau Island. Photo: Handout
China’s private sector

China’s biotech boom: record 5,215 clinical drug trials reported in 2025

Cancer treatments remain the top research focus as Beijing’s drive to make biotech a strategic industry draws attention in Washington.

Cancer research being conducted in a modern lab. Cancer treatments remained the top focus of the record 5,215 clinical drug trials in China last year. Photo: Shutterstock
Cancer research being conducted in a modern lab. Cancer treatments remained the top focus of the record 5,215 clinical drug trials in China last year. Photo: Shutterstock
Electric & new energy vehicles

China’s EV brands have Europe’s luxury marques in their sights: Zeekr executive

Zeekr vice-president Mars Chen says Chinese carmakers have edge in meeting demand for electric luxury cars.

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IPO

Momenta granted regulatory approval to list in Hong Kong amid rumoured crackdown

As Beijing appears to tighten rules on the listing of domestic firms incorporated offshore, self-driving tech start-up Momenta gains IPO approval.

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Walmart

After Beijing’s food-safety warning, will Sam’s Club slow its expansion?

Firm makes leadership changes but might have to prioritise supply chain shortcomings after Beijing’s ‘accountability interview’.

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People shop in a Sam’s Club in Shenzhen on June 15. Photo: Sam Tsang
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