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Big Tech
Amazon asks Chinese sellers not to offer cheaper prices on Temu
As competition heats up, the US retailer has started tracking product pricing on rival platform Temu, according to merchants.
24 Dec 2024 - 6:00PM
Electric & new energy vehicles
China’s CATL launches EV chassis that can withstand high-speed crash
24 Dec 2024 - 4:34PM
Foxconn
Foxconn invests in EV battery plant in China’s iPhone city
24 Dec 2024 - 4:30PM
Companies
Hong Kong property
Shimao slashes Hong Kong hotel price by 25% to speed up restructuring
Mainland Chinese developer is asking HK$4.5 billion (US$579 million) for the asset, down from HK$6 billion in March 2023, according to a source.
24 Dec 2024 - 1:47PM
Sheraton and Four Points by Sheraton Tung Chung, with more than 1,200 rooms, is the second-largest hotel complex in the city by room inventory. Photo: Handout
Tech War
US-China tech war
Chinese surveillance tech firm Dahua exits projects in Xinjiang
The company was added to a US trade blacklist in 2019 on claims it aided in human rights abuses in Xinjiang.
24 Dec 2024 - 1:43PM
Business
Hong Kong property
Mainland Chinese retailers make their presence felt in Hong Kong
China’s largest coffee chain opens first outlet in the city as it goes up against US rival Starbucks.
24 Dec 2024 - 11:30AM
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China Business
Electric & new energy vehicles
China will retain car-export crown in 2025, but growth may slow on EU EV tariffs
China’s top auto firms are likely to diversify by introducing petrol cars and hybrid models to blunt the impact of trade barriers.
24 Dec 2024 - 7:30AM
Workers at an SAIC Motor workshop in Shanghai. Photo: Xinhua
Banking & Finance
IPO
SPAC backed by Hong Kong investors readies US$150 million NYSE IPO
The SPAC is managed and backed by executives from Pacific Aegis Capital Management, Gobi Partners and Hermitage Capital.
23 Dec 2024 - 1:30PM
China Business
Electric & new energy vehicles
EV maker Nio unveils Firefly branded cars to take on Mini Cooper and Smart
The launch is an advancement in Nio’s drive into international markets.
22 Dec 2024 - 1:31PM
Tech Trends
Artificial intelligence
Chinese-owned Character.ai rival vanishes from US App Store
Talkie, a popular AI companion app developed by Shanghai start-up MiniMax, has been removed from Apple’s store in the US.
20 Dec 2024 - 9:00PM
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China EVs
Electric & new energy vehicles
China’s car parts, software industry to hit US$356 billion by 2030
Market for car parts and software is likely to grow at an annualised pace of 28.8 per cent between 2026 and 2030.
20 Dec 2024 - 7:00PM
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Robots weld bodyshells of cars at Li Auto’s plant in Changzhou, in eastern Jiangsu province. Photo: Xinhua
Big Tech
Tencent
China’s super app WeChat flexes e-commerce muscles with gift feature
The new function could be Tencent’s next big hit after electronic red packets, says one merchant.
20 Dec 2024 - 7:00PM
Companies
SCMP Exclusives
Exclusive
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Wynn Macau calls for easier travel process with Hong Kong to lift tourism
View echoes call by President Xi Jinping for both cities to ‘stay united and work for greater achievements’.
20 Dec 2024 - 2:43PM
Companies
Stocks
Chinese toymaker Pop Mart’s 370% surge fuelled by blind box collectibles
Pop Mart’s blind box toys have become a global sensation, turning the toymaker into the hottest Chinese growth company.
20 Dec 2024 - 2:14PM
Companies
CK Hutchison
CK Hutchison’s Wind Tre unit faces Italian tax probe in €3.4 billion asset sale
The alleged evaded taxes would amount to about €132 million for 2022 on the sale of mobile phone towers, according to a document.
20 Dec 2024 - 11:59AM
Italy’s finance police is investigating Wind Tre, the country’s third-biggest phone company, for alleged tax evasion. Photo: Shutterstock
China Business
Stocks
Laopu Gold outshines Chow Tai Fook as China’s top jeweller with 437% stock surge
The Beijing-based ‘old shop’ jeweller’s unique luxury strategy draws comparisons with Cartier and Tiffany.
20 Dec 2024 - 11:35AM
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Big Tech
Ant Group
Chinese fintech giant Ant denies imminent restart of IPO process
Amid rife speculation, the company says it has no current plans to go public or pursue a back-door listing.
19 Dec 2024 - 8:31PM
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Big Tech
Alibaba
Alibaba splits AI team to sharpen consumer and business focus
It follows similar moves by ByteDance and Baidu, which have divided their AI research and application teams to tackle a competitive market.
19 Dec 2024 - 6:00PM
Alibaba is reportedly splitting up its generative AI team. Photo: EPA-EFE
Markets
HKEX
HKEX unveils reforms to boost Hong Kong’s IPO market so it can reclaim top spot
Changes to board representation and listing rules are aimed at making Hong Kong a more attractive listing destination, HKEX says.
19 Dec 2024 - 7:56PM
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Tech Trends
Artificial intelligence
From autonomous driving to GenAI: TuSimple shifts gears as founders quarrel
Once a rising star in autonomous driving, TuSimple has announced a rebranding as it pursues AI-generated video content after ousting its CEO.
19 Dec 2024 - 1:30PM
Tech War
Cybersecurity
US investigates China-founded internet router maker TP-Link
Investigators fear that TP-Link is using ‘the Huawei playbook’, according to people familiar with the probe.
19 Dec 2024 - 10:17AM
4
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How Hong Kong can lead the way on sustainable textiles
4 Oct 2024 - 4:30PM
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