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China Construction Bank is selling shares to the government to boost its tier-one capital. Photo: Reuters

China Business

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.

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

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

Markets

Christie’s and Sotheby’s Hong Kong auctions underwhelm as sales hit 6-year low

The world’s leading auction houses made a combined US$89.2 million, the lowest since autumn 2018, according to data from ArtTactic.

“Grotto” by Nicholas Party is shown during the media preview on March 20, ahead of Sotheby’s Hong Kong auction. Photo: Nora Tam
“Grotto” by Nicholas Party is shown during the media preview on March 20, ahead of Sotheby’s Hong Kong auction. Photo: Nora Tam

China Business

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.

China EVs

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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Tech Trends

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

China Business

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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Tech Trends

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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China EVs

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.

A file photo taken on September 11, 2023, shows BYD EVs waiting to be loaded on a ship at the international container terminal of Taicang Port at Suzhou Port, in China’s eastern Jiangsu Province. Photo: AFP

Banking & Finance

Chinese state banks’ 2024 profits rise, NPLs dip even as margins thin

All six state-owned commercial banks posted moderate profit growth for last year, as non-performing loan ratios declined slightly.

A branch of the Industrial and Commercial Bank of China (ICBC) in Beijing on April 1, 2019. Photo: Reuters
A branch of the Industrial and Commercial Bank of China (ICBC) in Beijing on April 1, 2019. Photo: Reuters

Markets

Hong Kong stocks decline for third week on profit-taking

US car tariffs’ impact on the US stock market have brought about a correction in Hong Kong, Kingston Securities’ Dickie Wong says.

Companies

Venture-capital club expands to Hong Kong, plans US$250m fund

London Technology Club opens in the city with a focus on fast-scaling companies in AI, fintech.

Big Tech

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

Banking & Finance

Hong Kong to get world’s first tokenised money-market ETFs from Bosera, HashKey

Bosera HKD Money Market ETF and USD Money Market ETF, which have been approved by the SFC, are set to launch in April.

Tokenised money market ETFs are one of the use cases in the HKMA’s Project Ensemble sandbox. Photo: Shutterstock
Tokenised money market ETFs are one of the use cases in the HKMA’s Project Ensemble sandbox. Photo: Shutterstock

Business

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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Business

Top US money managers stay upbeat on Chinese stocks amid AI, biotech boom

Templeton, Janus Henderson and Wellington Management see potential in stocks amid China’s pursuit of tech excellence.

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Banking & Finance

In SAFE hands: China’s secret plan for US$1 trillion reserves fund in Hong Kong

Cheng Hao, the man involved in the rescue of China’s 2015 market crash, runs what is the world’s third largest wealth fund in Hong Kong.

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illustration by Pearl Law
illustration by Pearl Law

Banking & Finance

China’s 4 golden flowers: how Beijing invests its US$3.2 trillion reserves

The State Administration of Foreign Exchange entrusts managers in four ‘overseas offices’ to diversify its reserves and maximise returns.

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Business

Nicholas Tse, Stanley Ho’s family face falling property value amid market slump

Macau tycoon Stanley Ho’s family is selling a site in Tsim Sha Tsui, while actor Nicholas Tse’s shop in Central rented out at a big discount.

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Companies

Hong Kong property firm Gale Well trying to sell US$386 million in assets

Company is selling commercial properties in Admiralty, Tsim Sha Tsui and Causeway Bay, as well as luxury residential assets.

Gale Well Group vice-chairman and CEO Jacinto Tong Man-leung, pictured at his office in Wan Chai on February 25, 2025. Photo: Jonathan Wong
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OPINION
Anthony Rowley

Macroscope | World is ready to cut US dollar down to size – but not too quickly

Anthony Rowley
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James David Spellman

Opinion | Trump’s executive orders will be no match for markets in grip of fear

James David Spellman
Bonnie Zuo

Opinion | China has what it takes to lead the global green steel revolution

Bonnie Zuo
Winston Mok

Opinion | China’s true talent in AI lies in making it safe to use

Winston Mok
Nicholas Spiro

The View | Why the future looks so promising for luxury property in Asia

Nicholas Spiro
John Pomeroy

Opinion | Asia is ground zero for the impact of global glacier loss

John Pomeroy
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MULTIMEDIA
Video

How Alibaba.com is betting on AI to transform e-commerce

How Alibaba.com is betting on AI to transform e-commerce
11:13
Video

The small business concerns behind China’s ‘two sessions’

China’s ‘two sessions’: small businesses voice concerns as they face economic headwinds
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Hong Kong-listed SenseTime to spin off healthcare platform

SenseTime plans to spin off healthcare platform in effort to capitalise on advanced LLMs
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Video

How Sands China is driving Macau 3.0

How Sands China is driving ‘Macau 3.0’ with NBA Legends, better infrastructure
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