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Microsoft has closed its research lab in Shanghai’s Zhangjiang hi-tech zone, and has already removed its logo from the entrance. Photo: Wency Chen
Microsoft

Microsoft shutters AI lab in Shanghai, continuing China retreat

The IoT & AI Insider Lab in the Zhangjiang hi-tech zone likely closed in January or February, nearby workers say.

Semiconductors

Another Apple chip engineer returns to China to nurture next-generation talent

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China property

No respite in sight for Chinese developers as profits continue to slump

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Banking & finance

Chinese banks raise consumer loan rates from record low to protect margins

Banks will offer consumer loans at 3 per cent to boost their net interest margins, which hit a low of 1.52 per cent at the end of last year.

Chinese banks are lifting their consumer loan rates. Photo: AFP
Chinese banks are lifting their consumer loan rates. Photo: AFP
Robotics

Venture capital veteran Allen Zhu questions humanoid robots’ value

Zhu, who famously backed Didi Chuxing and RedNote, says early-stage venture capitalists should steer away from the embodied-AI sector.

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China property

Country Garden’s 2024 loss narrows amid tentative recovery signs

The loss attributable to shareholders stood at 32.8 billion yuan, compared with a record 178 billion yuan loss in 2023, according to an exchange filing.

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IPO

JD Industrials, Unisound AI revive Hong Kong IPOs amid Chinese rush

Third time could be the charm for JD.com’s industrial unit, which may raise up to US$1 billion amid improved sentiment, a source says.

People walk through Exchange Square in Central, home of bourse operator Hong Kong Exchanges and Clearing, on March 28, 2025. Photo: Matthew Miller
People walk through Exchange Square in Central, home of bourse operator Hong Kong Exchanges and Clearing, on March 28, 2025. Photo: Matthew Miller
TikTok

Trump hints at a TikTok sale deal before April 5 deadline

A group consisting of Blackstone and ByteDance’s non-Chinese shareholders has emerged as front-running buyers.

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Hong Kong stock market

Hong Kong stocks retreat to 4-week low as more Trump tariffs loom

Investor jitters over tariffs set to be unveiled on April 2 outweigh a positive China manufacturing report.

Banking & finance

HSBC bets big on Hong Kong to tap Asia’s wealth-management boom: Elhedery

HSBC’s customers base increased to 6.2 million last year from 5.4 million, showing the importance of the city, Elhedery says.

Georges Elhedery, group CEO of HSBC, speaks at the bank’s Global Investment Summit last week. Photo: Handout
China travel

‘Vast untapped market’: how China’s elderly are transforming global tourism

Over-65s make up a fast-growing segment of China’s vast outbound travel market – and they tend to be big spenders.

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Retirees make up a fast-growing segment of China’s vast outbound tourism market. Photo: EPA/STR
Retirees make up a fast-growing segment of China’s vast outbound tourism market. Photo: EPA/STR
Banking & finance

China’s 4 top state-owned banks to raise US$72 billion from stock sales to boost capital

The fundraising comes after the National People’s Congress vowed earlier this month to recapitalise major state banks.

Electric & new energy vehicles

China to crack down on unfair EV price cuts to stabilise industry

China vows to combat unfair pricing and misinformation by EV players, as it aims to stabilise growth and profitability of the sector.

China property

Shanghai’s luxury property market thrives while mass housing segment deteriorates

More than 60 per cent of the 4,110 new homes in China priced above 30 million yuan were sold in Shanghai last year, according to CRIC data.

Luxury property prices in Shanghai are rising while prices of mass-market homes are falling. Photo: EPA-EFE
Artificial intelligence

A DeepSeek moment is playing out in rural China as peasants seek AI advice

Rural residents, who account for a third of China’s 1.4 billion population, are eager to apply AI services.

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Farmers harvest cabbages in Tangshan, north China’s Hebei Province, November 6, 2024. Photo: Xinhua
Farmers harvest cabbages in Tangshan, north China’s Hebei Province, November 6, 2024. Photo: Xinhua
Banking & finance

DeepSeek has boosted the faith of rich Chinese investors in tech stocks: StanChart

The AI boom in China has convinced Chinese investors that the markets will continue to rise, Standard Chartered’s Judy Hsu says.

Electric & new energy vehicles

Xpeng CEO says flying car market will be bigger than EVs over next two decades

CEO He Xiaopeng believes the global flying car market could reach US$2 trillion in the next two decades, double the size of land vehicles.

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Electric & new energy vehicles

Self navigating to the top: why China leads the global autonomous-driving race

After stamping their authority on EV technology, Chinese firms make strides in adding self-driving features.

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Illustration by Lau Ka-kuen
Illustration by Lau Ka-kuen
Smartphones

Google’s Android transparency shift unnerves Chinese developers

Google is no longer developing Android in the open, which some developers believe could give an advantage to Huawei’s HarmonyOS.

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Electric & new energy vehicles

Chinese EV industry pressed to accelerate global expansion amid tariffs

Companies should balance exports and overseas production while seeking to achieve win-wins with foreign partners, former vice-minister says.

TikTok

TikTok Shop to expand to Germany, France, Italy next week amid uncertainty in US

The move marks a major expansion of the short-video app’s e-commerce operations in Europe as it faces a looming ban in its largest market.

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TikTok Shop is expanding in Europe amid legal uncertainty and disappointing performance in the US. Photo: AFP
China property

Exclusive | BlackRock sells last Shanghai asset at discount amid China retreat

The US firm is selling its last major asset in the city, Trinity Place, for 900 million yuan (US$124 million), according to sources.

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A view of the Shanghai skyline and Huangpu river in 2022. Photo: Reuters
A view of the Shanghai skyline and Huangpu river in 2022. Photo: Reuters
Alibaba

Alibaba’s AI crackdown: Taobao says e-commerce images must be ‘realistic’

Taobao’s initiative aligns with China’s broader regulatory efforts to address the misuse of generative AI.

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Alibaba

Alibaba launches AI model that can process images and video on the go

The multimodal Qwen2.5-Omni-7B model is designed to run locally on mobile devices and tops rivals in some benchmarks.

SenseTime

SenseTime’s 2024 loss narrows even as it misses analysts’ forecasts

The company reported net loss of 4.3 billion yuan (US$592 million) in 2024, compared with estimate of 4 billion yuan loss.

Visitors at SenseTime’s stand at the World Artificial Intelligence Conference (WAIC) in Shanghai on July 4, 2024. Photo: Getty Images.
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