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Visitors inspect a BYD Atto 2 electric vehicle during the Big Motor Sale 2026 automotive showcase in Bangkok, Thailand, on August 21. Photo: EPA
Electric & new energy vehicles

BYD posts US$1.2 billion profit in second quarter on surging global demand

The Chinese EV giant beat market estimates in the second quarter, as booming exports helped offset a prolonged decline in the domestic market.

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Hong Kong economy

Hong Kong retirees’ living costs grow 3 times city’s 5-year average: index

China stock market

Diversification drive after chip sell-off gives China’s private funds a boost

Insurance

Prudential’s new business profit growth slows, US$300m share buy-back announced

New business profit increases 8 per cent to US$1.38 billion in first half as market braces for potential fall in number of mainland visitors.

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A banner featuring the Prudential logo atop a building in Tsim Sea Tsui, Hong Kong. Photo: Handout
A banner featuring the Prudential logo atop a building in Tsim Sea Tsui, Hong Kong. Photo: Handout
Banking & finance

Asia’s super-rich are ‘going all in’ on sustainability as impact investing grows

Asian family offices putting more funds into sustainability projects – and adopting ‘systems-level’ approach to make greater impact, survey finds.

Electric & new energy vehicles

China’s new traffic safety law set to clarify liability for fully automated cars

Lawmakers are set to establish clear liability standards for self-driving cars, a move that could open the floodgates for next-gen vehicles.

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Electric & new energy vehicles

Xpeng lands US$900m in funding for humanoid AI push despite wider quarterly loss

Backers including Alibaba, Tencent and IDG put up a combined US$600 million while Xpeng itself pledges US$200 million.

Xpeng’s humanoid robot Iron stands at the EV maker’s booth during the Auto Shanghai show in Shanghai, April 23, 2025. Photo: Reuters
Xpeng’s humanoid robot Iron stands at the EV maker’s booth during the Auto Shanghai show in Shanghai, April 23, 2025. Photo: Reuters
Wealth management

Hang Seng Bank grows wealth network despite Beijing’s tighter capital scrutiny

Hong Kong lender says it is expanding its workforce to capture rising demand from high-net-worth clients.

Wealth management

Investment market volatility is ‘here to stay’ unless global recession strikes

Rich investors put on notice as AI advancement and geopolitical risks continue to change market structure, causing instability, says Nomura.

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Banking & finance

Yuan, Hong Kong dollar bonds surge as issuers seek cheaper funding

Issuance of dim sum, panda and wonton bonds accelerates as Beijing promotes the yuan’s global use and deeper cross-border access broadens demand.

Beijing has been striving to internationalise China’s yuan in recent years. Photo: Shutterstock
China stock market

Evergrande’s fine, China cuts US Treasury holdings: the numbers moving markets

CXMT’s valuation, Unitree’s listing surge and retirement expectations for Hong Kong’s wealthy are among stories leading this week’s market numbers.

Hui Ka-yan, the founder of China’s Evergrande Group, in court in Shenzhen on Thursday. Photo: Reuters
Hui Ka-yan, the founder of China’s Evergrande Group, in court in Shenzhen on Thursday. Photo: Reuters
Wealth management

Guotai Haitong unit handed US$7.8m penalty over QDII breaches

The violations involved several QDII products offered between 2019 and 2022, which have ‘since been rectified’, Guotai Haitong said.

Electric & new energy vehicles

Growth driver: Hesai bets on lidar boom amid surge of smart cars in China

World’s largest maker of lidar sensors signals ambitions beyond the supply chain, repositioning itself as a top tech firm.

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Wealth management

Goldman Sachs upbeat on wealth outlook despite worries over China’s tax scrutiny

Robust fee growth tipped for Hong Kong, Singapore banks as mainland Chinese clients’ offshore allocations driven by diversification: report.

People walk past buildings in Central, Hong Kong. Photo: Sun Yeung
Wealth management

Even Hong Kong’s rich expect to work past retirement age, survey says

More people plan to work longer and ‘blend work, family responsibilities and personal aspirations’, Manulife Hong Kong CEO says.

The percentage of Hongkongers expecting to work past retirement age is higher than in Singapore and mainland China, but lower than in Japan. Photo: Karma Lo
The percentage of Hongkongers expecting to work past retirement age is higher than in Singapore and mainland China, but lower than in Japan. Photo: Karma Lo
US-listed Chinese stocks

US billionaires reshuffle Chinese tech stock buys amid AI boom

Investors David Tepper and Stanley Druckenmiller are among those switching up their bets, with Chinese giant Baidu gaining investment from both.

Uzbekistan

Jim Rogers eyes up China’s yuan as he warns of a US market crash

Legendary investor lauds the yuan but says his cash holdings are still in US dollars because the Chinese currency lacks full convertibility.

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China property

Rebound in China luxury home sales divorced from rest of market: analysts

Data from a real estate consultancy shows 38 per cent rise in sales of homes priced between 30 million and 50 million yuan in first half.

The luxury Huafutiandi development in Shanghai.Photo: CFOTO/Future Publishing via Getty Images
The luxury Huafutiandi development in Shanghai.Photo: CFOTO/Future Publishing via Getty Images
Electric & new energy vehicles

China’s EV sales keep sliding as incentives fade and price war seen heating up

A seven-month domestic downturn contrasts with a 147.8 per cent jump in overseas shipments, highlighting a widening gap between domestic and export markets.

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China stock market

What are China’s quantitative trading funds, and why are they so controversial?

China’s quant funds face scrutiny from retail traders and regulators, driven by their large returns and use of AI.

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Wealth management

Rich Hongkongers rank travel over real estate in shifting life goals: survey

Immersive travel and early retirement rank above real estate on the priority list of wealthy individuals, according to a new report.

Passengers pose for pictures at Hong Kong International Airport in Chek Lap Kok on May 27. Photo: SCMP/Sam Tsang
Banking & finance

In Focus | Beijing hits super-rich with 20% offshore tax. What does it mean for Hong Kong?

For decades, Hong Kong has prospered by managing the wealth of Asia’s elite. Will that change as China introduces tougher offshore tax policies?

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Illustration: Dennis Yip
Illustration: Dennis Yip
Wealth management

Over a quarter of China’s ultra-wealthy in Beijing and Shanghai, report says

Beijing, Shanghai and Guangdong hold most super-rich households as weaknesses in real estate and market volatility weigh on private capital.

Banking & finance

Everything you need to know about Hong Kong’s US dollar peg

As global investors shift away from US dollar assets, Hong Kong is tied to the US dollar to maintain a stable exchange rate.

Banking & finance

Meet the next generation of Chinese stars making their mark in global finance

New finance talent brings analytical discipline and cross-cultural fluency across global asset management, crypto and quant trading.

From left are Tian Zhou, Wei Li and Katherine Wu. Photo: Handout
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