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From left, Edmund Yeung Lui-ming, Towngas executive director and chief financial officer; Peter Wong Wai-yee, managing director; and Alan Chan Ying-lung, executive director and chief investment officer. Photo: Towngas
Banking & finance

Towngas says tourism rebound, incoming mainland talent will drive sales in 2025

Towngas says its renewable energy business on the mainland was a strong profit contributor.

Banking & finance

Towngas unit’s 2024 profit gains as renewable energy bets pay off

Electric & new energy vehicles

Exclusive | Why does a Kazakh tycoon want to ride China’s electric vehicle wave?

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Business of climate change

China miners accelerate overseas buying spree

Last month, MMG said it would buy British miner Anglo American’s nickel business in Brazil.

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A Leapmotor EV production line in Jinhua, China. Photo: AFP
A Leapmotor EV production line in Jinhua, China. Photo: AFP
Gold in Hong Kong

Gold and Chinese stocks still have room to rise, CICC says

Despite concerns about stretched valuations after recent rallies, both offer growth potential and diversification value, bank says.

Business of climate change

China must slash steel capacity in next 5 years to meet green goals

China coal-based blast furnace (BF) capacity must fall by at least 200 million tonnes per annum (Mtpa) by 2025, said the Centre for Research on Energy and Clean Air.

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US-China relations

How the US makes billions selling gristly chicken feet to China

Chicken feet are regarded as waste in most countries, but in China they are a beloved delicacy – and a lucrative import category.

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Steamed chicken feet are a classic dim sum dish in China. Photo: Shutterstock
Steamed chicken feet are a classic dim sum dish in China. Photo: Shutterstock
Gold in Hong Kong

Hongkongers rush to sell, buy gold as precious metal’s price hits record high

Gold bought in October 2023 is worth 63 per cent more now, and some analysts expect the price to continue rising.

China deflation

‘Farmers can’t bear it!’: China’s poultry industry scrambled by falling prices

While the US faces egg shortages, China’s poultry farmers are dealing with the opposite problem: plunging prices due to chronic overproduction.

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Banking & finance

Gold hits record high as Trump’s tariffs spur safe-haven buying

Gold hit US$2,830.49 per ounce on Monday due to the safe-haven demand driven by uncertainty surrounding Trump’s tariffs.

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Bullion banks have been transporting gold from Asian trading hubs to the US to profit from unusually high US gold futures. Photo: Reuters
Gold in Hong Kong

‘Gold corridor’: Hong Kong bullion exchange’s head envisions hub role

HKGX chairman forecasts rising gold prices and trading volume in the Year of the Snake.

Gold bricks are displayed at the Year of the Snake opening ceremony of the Hong Kong Gold Exchange in Sheung Wan on February 3, 2025. Photo: Edmond So
Gold bricks are displayed at the Year of the Snake opening ceremony of the Hong Kong Gold Exchange in Sheung Wan on February 3, 2025. Photo: Edmond So
Business of climate change

JD.com-backed gadget platform banks on China’s trade-in subsidy to spur volume

ATRenew, China’s largest platform for pre-owned electronics, is offering trade-in incentives to coincide with the Lunar New Year holiday.

China food security

High-steaks challenge: how China feeds its huge, meat-hungry population

China’s 1.4 billion consumers have developed Western-style appetites for high-protein foods such as pork and beef, prompting far-reaching changes in the global economy.

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Banking & finance

Standard Chartered banks on yuan assets amid US-China tensions

The lender has already seen higher demand for foreign-exchange management and hedging, and the need will only grow, an executive says.

An exterior view of a Standard Chartered branch in Exchange Square in Central. Photo: Jonathan Wong
Business of climate change

Tianqi warns of US$1 billion loss on price slump, halt to Australian expansion

A decline in profit at the firm’s Chilean unit, forex losses and asset impairments contributed to the poor results in 2024.

Chengdu, Sichuan province-based Tianqi Lithium is one of the world’s largest producers of lithium-ion battery materials. Photo: Shutterstock
Chengdu, Sichuan province-based Tianqi Lithium is one of the world’s largest producers of lithium-ion battery materials. Photo: Shutterstock
Commodities

China’s Zijin Mining vies with Glencore after record year for profits

The gold and copper producer has a market capitalisation on par with global commodity trading giant Glencore.

Business of climate change

Hong Kong and Singapore firms tie up to decarbonise shipping sector

The deal will combine Towngas’ strengths in green methanol production with Global Energy’s supply chain management.

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Banking & finance

Hong Kong to join LME warehouse network to serve China’s metals appetite

‘Major milestone’ enhances Hong Kong’s role as a conduit to China, the world’s biggest consumer of metals.

An employee checks aluminium ingots for export at Qingdao Port, Shandong province, in this March 14, 2010 file photo. Photo: Reuters
An employee checks aluminium ingots for export at Qingdao Port, Shandong province, in this March 14, 2010 file photo. Photo: Reuters
Commodities

China steelmakers set for more production cuts as demand sags

Chinese research firm Mysteel expects output to sink to less than 900 million tons by 2030 from more than 1 billion tons in 2024.

Yuan

China’s yuan on the rise in oil trade, but petrodollar here to stay: report

Helped by digital yuan and advancements in financial tech, more yuan-backed transactions are taking place in crude settlement.

Banking & finance

Hong Kong should seize role in clean-energy commodities, think tank says

Commodities market would ‘create a new growth point for Hong Kong’s economy’, report from Better Hong Kong Foundation says.

An aerial photo taken on September 2, 2024 shows the fourth phase of the Chinese-built Mohammed bin Rashid Al Maktoum Solar Park in Dubai, United Arab Emirates. Photo: Xinhua
Business of climate change

China’s Zijin to start producing lithium from Congo in early 2026

The Manono project is also claimed by Australia’s AVZ Minerals, which has started arbitration proceedings against the African nation’s government.

Manono in southeast Congo is rich in lithium deposits. Photo: AVZ Minerals
Manono in southeast Congo is rich in lithium deposits. Photo: AVZ Minerals
Gold in Hong Kong

Gold could hit US$3,000 in 2025 amid continuing bull run

A recent World Gold Council survey showed 81 per cent of respondents expect central banks to bolster their gold reserves in the coming year.

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China deflation

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

Some soybean crushers in Dongguan in Guangdong province have had to suspend operations for the last three weeks, traders say.

Farmers harvest soybeans near Palo, Iowa, United States, on October 2, 2024. Photo: AP
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