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The US Commerce Department has added a Chinese AI start-up to its export control list. Photo: AFP

Tech War

US blacklists Chinese AI unicorn as tech rivalry escalates

Zhipu AI is among more than two dozen China and Singapore-based companies added to the US Entity List on Wednesday.

Hong Kong’s CTF Services to issue US$100 million in convertible bonds

Chinese investment bank CICC cleared to operate in Dubai financial centre

China Business

Hong Kong stocks near 2-week high as rate-cut odds rise on US inflation data

Consumer price index delivers ‘a pleasant surprise’ and suggests ‘gentle easing of persistent inflationary pressures’, investor says.

A view of Exchange Square in Central, home to Hong Kong’s stock exchange operator, on January 9, 2025. Photo: Jelly Tse
A view of Exchange Square in Central, home to Hong Kong’s stock exchange operator, on January 9, 2025. Photo: Jelly Tse

Tech War

TikTok prepares to shut down app in US on Sunday, sources say

Shutting down TikTok in the US could make it unavailable for users in many other countries, the company has said.

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Big Tech

Chinese AI start-up MiniMax intensifies competition with new open-source models

The release, which includes foundational and multimodal models, comes weeks after rival DeepSeek set a new standard with its own open-source models.

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Banking & Finance

Key Beijing official in Hong Kong urges city to address market ‘shortcomings’

Hong Kong has shortcomings in market regulation, transaction costs and corporate governance, liaison office deputy Qi Bin tells Capital Markets Forum.

Qi Bin highlighted the significance of Hong Kong’s capital market at the Capital Markets Forum on Wednesday. Photo: Handout
Qi Bin highlighted the significance of Hong Kong’s capital market at the Capital Markets Forum on Wednesday. Photo: Handout

Business

Citybus owner Hans Group makes deal to fuel hydrogen-powered buses in Hong Kong

Hans Group, Citybus and Grand Resource Hydrogen signed a supply agreement on Wednesday.

Big Tech

Greater Bay Area’s next-gen chipmakers find ready buyers in Chinese EV industry

Guangzhou’s Nansha district is attracting companies specialising in silicon carbide semiconductors, as they look to capitalise on regional integration.

Tech Trends

Cambricon, China’s answer to Nvidia, predicts first quarterly profit

The Chinese investors’ darling of 2024 is one of the nation’s best hopes in developing home-grown advanced graphics processors.

Cambricon Technologies predicted its first-ever quarterly profit. Photo: Handout

Blockchain

BitMEX fined US$100 million for violating anti-money-laundering laws

Prosecutors accuse BitMEX and its founders of failing to adopt anti-money-laundering and “know your customer” programmes.

BitMEX has been fined US$100 million for anti-money-laundering violations. Photo: SCMP
BitMEX has been fined US$100 million for anti-money-laundering violations. Photo: SCMP

Big Tech

Tencent, Guillemot family consider creating new venture involving Ubisoft assets

Tencent and the Guillemot family are evaluating which assets to include in the new entity.

China Business

Slew of indebted Chinese developers face reckoning in Hong Kong courts

Sunac and Shimao have received new liquidation petitions, while Country Garden and Times China face court hearings this month.

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Commodities

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

Banking & Finance

Hong Kong IPOs excite funds, bankers as jumbo deals return, CICC says

Foshan Haitian Flavouring, CATL are among mainland industry leaders planning billion-dollar IPOs as China deepens market connectivity.

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A man walks past a CICC signboard in Guomao, Beijing. Photo: Getty Images
A man walks past a CICC signboard in Guomao, Beijing. Photo: Getty Images

China Business

Hong Kong stocks edge up before key economic data from US and China

US December inflation data is due Wednesday night, while China is scheduled to disclose fourth-quarter economic growth on Friday.

Companies

Troubled Chinese developer Country Garden’s loss for first half of 2024 narrows

Foshan-based developer also says revenue for first half of 2024 fell 55 per cent to 102 billion yuan (US$13.9 billion).

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China Business

Can China’s solar industry find a solution before it’s too late?

Solar industry faces year of reckoning as Opec-style pact falters amid a price war and excess capacity.

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Illustration by Henry Wong
Illustration by Henry Wong

China Business

Taking stock: global investment banks hedge their bets on China market next year

After a forgettable year, Morgan Stanley, UBS, Goldman Sachs and others make their predictions for Chinese equities in 2025.

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Big Tech

China catches up fast in AI race, but US chip curbs cast shadow

Abundant investment and an open-source approach have pushed China to the AI forefront, but a lack of advanced chips may prove devastating.

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Business

The Center sale came at a peak and now buyers struggle to exit

Take a look inside The Center, which was the world’s most expensive skyscraper when it was shrewdly sold by the city’s wealthiest man.

Illustration: Henry Wong
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OPINION
Anthony Rowley

Macroscope | Biden’s blocking of US Steel deal latest sign of globalisation in retreat

Anthony Rowley
Rachel Yu

Opinion | How AI giants can help Asian suppliers make a clean energy transition

Rachel Yu
Joseph Chan,John Siah

Opinion | How Macau’s rise as financial hub opens doors for Hong Kong

Joseph Chan
John Siah
Richard Harris

The View | Languishing wars, a stagnant China? Investors shouldn’t be so sure

Richard Harris
Zhou Xin

My Take | China economy: Beijing must make strong preparations for a period of slow growth

Zhou Xin
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Nicholas Spiro

The View | 3 trends to watch in Asian real estate in 2025

Nicholas Spiro
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MULTIMEDIA
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How Sands China is driving Macau 3.0

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Bridgewater's Prince says China is a 'unique opportunity' as funds diversify

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