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A 56.23-carat pink diamond. Photo: Handout
China deflation

China Economy

Diamonds are plunging in value around the world. Is China to blame?

China’s demand for natural diamonds has ‘fallen off a cliff’ amid plunging marriage rates, while its factories are churning out synthetic alternatives that are up to 90 per cent cheaper.

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China economy

China’s crop import curbs causing soybean shortage

Banking & finance

Exclusive | Hong Kong’s potential as commodities hub draws expansion by Marex Group

Commodities

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.

A view of the Zhengzhou Commodity Exchange in Henan province on April 3, 2019. Photo: Imaginechina.
A view of the Zhengzhou Commodity Exchange in Henan province on April 3, 2019. Photo: Imaginechina.

China Business

Automotive industry

China’s EV boom threatens to push petrol demand off a cliff

Brokerage Citic Futures sees Chinese gasoline consumption dropping by 4 to 5 per cent a year through 2030.

China Business

Focus

Global CEOs see new hopes, old threats in Hong Kong vs Trump 2.0

‘People are leery of investing a lot of money in a country that is part of geopolitical tensions,’ Oaktree Capital’s Howard Marks says.

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China Economy

China's economic recovery

China hits jackpot with discovery of ‘massive’ gold reserves in Hunan

The US$80 billion hoard is the latest fruit of China’s drive to find new domestic precious minerals reserves.

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Demand for gold has surged in China over the past two years, as consumers and investors react to domestic and global economic uncertainty. Photo: Shutterstock
Demand for gold has surged in China over the past two years, as consumers and investors react to domestic and global economic uncertainty. Photo: Shutterstock

China Business

China trade

US farmers sign big deals at CIIE expo, easing concerns about scale of trade war

‘Agricultural products are an important part of bilateral trade between China and the US,’ AmCham Shanghai says.

Tech Trends

Artificial intelligence

MTR Lab backs AI start-up Ensonic in first mainland Chinese investment

Ensonic produces AI-based acoustic detection systems used for equipment quality control and maintenance.

Big Tech

TikTok

TikTok CEO vows to earn global trust, as app challenges US ban

Chew Shou Zi calls earning local trust around the world “a big challenge” for TikTok at a summit in Riyadh.

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TikTok CEO Chew Shou Zi testifies before US lawmakers on Capitol Hill in Washington in March 2023. Photo: EPA-EFE

China Business

China economy

China’s steel and oil industries face mounting losses amid economic slowdown

China steel’s industry racked up losses of US$5 billion from January to September, while the oil sector’s losses widened to US$4.5 billion.

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China’s steel mills have been forced to slash output to protect margins hammered by the protracted property crisis. Photo: Reuters
China’s steel mills have been forced to slash output to protect margins hammered by the protracted property crisis. Photo: Reuters

Commodities

PetroChina

PetroChina to downsize, shut its biggest refinery in northern China

PetroChina plans to shut its Dalian refinery, with the capacity of 410,000 barrels per day, or 3 per cent of China’s total refinery output, around mid-2025, sources said.

Commodities

Gold in Hong Kong

How Hong Kong can compete with Singapore, Dubai in gold trading

Hong Kong has to create a comprehensive gold trading ecosystem, attract international traders, central banks and hedge funds.

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China Business

China economy

Full steam ahead as Shanghai ports eye global container volume record

The city is investing in infrastructure and technology to support growth, while also liberalising its finance sector to attract international shipping businesses.

The fourth phase of the Yangshan deep water port in Shanghai is the world’s largest automated container ­terminal. Photo: Reuters

Commodities

Middle East

Oil futures surge amid Middle East tensions and speculative shifts

Middle East tensions drive oil futures to their largest gain in a year, with traders rushing to buy call options amid fears of supply disruptions.

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A gas flare on an oil production platform is seen alongside an Iranian flag in the Arabian Gulf in this file photo. Photo: Reuters
A gas flare on an oil production platform is seen alongside an Iranian flag in the Arabian Gulf in this file photo. Photo: Reuters

South Asia

India

India allows non-basmati white rice exports, boosts global supplies

India imposed curbs on rice exports last year and extended them into 2024 to keep prices in check ahead of the April-June national election.

China Business

Business of climate change

Syngenta targets expansion in China to help boost food security, sustainability

Company aims to expand service centre network to 1,000 by 2028 from around 600 currently in an effort to educate more farmers.

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Commodities

China economy

China’s fading hunger for grain spells trouble for world farmers

Warehouses across China are bulging with grain amid a deepening economic crisis, reducing imports and straining the world’s farmers.

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A farmer collects grain during a canola harvest on a farm near Brora, Saskatchewan, Canada, on September 8, 2024. Photo: Bloomberg
A farmer collects grain during a canola harvest on a farm near Brora, Saskatchewan, Canada, on September 8, 2024. Photo: Bloomberg

China Business

Business of climate change

China’s carbon trading market to add steel, cement and aluminium sectors

By adding the three emissions-heavy industries, the trading scheme is expected to cover about 60 per cent of China’s carbon emissions.

China EVs

Banking & finance

China’s Geely unveils first compact EV to compete with BYD Seagull

The Xingyuan will compete head-on with BYD’s Seagull car to attract young, first-time car buyers amid an ongoing price war in the local market.

China Business

Hong Kong stock market

Sanergy blames forced share sale for market meltdown

Sanergy Group’s 98 per cent stock-price crash was triggered when its largest shareholder, Otautahi Capital, was forced to sell part of its stake, the maker of graphite products says.

Outside the Stock Exchange of Hong Kong in Central. Photo: SCMP/Jonathan Wong
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