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

Wealth

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.

Wharf firms up balance sheet as Hong Kong sales cushion profit slump

Alibaba says it can build AI data centres in 100 days with modular design

Tech Trends

Unitree IPO deluge masks humanoid robots’ limitations

Retail investors subscribed for more than 5,500 times the shares on offer in Unitree Robotics’ offering amid hype about advances for humanoid robots and a run of Shanghai IPO windfalls.

Photo: SCMP
Photo: SCMP

Companies

Gap bucks retail headwinds with massive China expansion amid localisation drive

Gap’s plan for dozens of new stores and return to Hong Kong market comes as Ralph Lauren also posted a 40 per cent year-on-year jump in China sales in past quarter.

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Banking & Finance

Shein set for Hong Kong IPO next week, eyes US$35b valuation: sources

Singapore-based company, which was founded in China, aims to raise as much as US$2.8 billion and began gauging investor demand last week.

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China Business

Gold breakout rally sends Chinese bullion stocks near record highs

Sovereign-debt risks and reserve diversification seen helping revive investor optimism in the precious-metals market.

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The price of gold rose 1.3 per cent to US$4,479 an ounce on Tuesday. Photo: Shutterstock
The price of gold rose 1.3 per cent to US$4,479 an ounce on Tuesday. Photo: Shutterstock

China EVs

Tesla faces uphill battle against Beijing’s new standards for self-driving cars

Data regulation is a key issue facing the US electric vehicle giant in China, according to experts.

Markets

Index compiler plans to add 20 more stocks to Hong Kong’s main tech tracker

Hang Seng Indexes Company says expanded 50-constituent index would feature 10 fastest-growing companies, irrespective of market cap.

Tech Trends

Unitree IPO frenzy leaves retail investors with 1-in-5,500 odds

Robotics company’s US$900 million Star Market listing offers slimmer odds than recent offerings by CXMT, Moore Threads and MetaX.

Children stand near Unitree robots on display at a store in Beijing on Monday. Photo: Reuters

Banking & Finance

China’s banks look to unload US$8.2b in bad credit-card loans

The pace of disposal efforts has accelerated since July, coinciding with the country’s slowing economy.

The rise in transfers comes as lenders face mounting asset-quality and profitability pressures. Photo: Shutterstock Images
The rise in transfers comes as lenders face mounting asset-quality and profitability pressures. Photo: Shutterstock Images

Business

Hong Kong’s commercial property investment growth beats Asian peers

‘Highly active’ market in city tops Singapore and Australia, although base effect, assets in receivership contribute to increase, JLL says.

Companies

Lululemon rival Alo Yoga enters China market with new store on Alibaba’s Tmall

The US brand announced its entry into China in June as part of its international expansion to tap the premium ‘athleisure’ market.

Business

US$19m home sale in Hong Kong’s Stanley shows resilient demand

Deal for house in One Stanley development adds to string of high-end transactions despite softer overall activity.

A view of One Stanley on the south side of Hong Kong Island. Photo: Elson Li

China EVs

Can CATL’s milestone push flying cars closer to a commercial reality in China?

World’s top EV battery maker says aviation pack is ready for mass production after clearing a major safety test.

CATL’s subsidiary Autoflight, a drone maker, launched a waterborne vertiport to support the electric vertical take-off and landing (eVTOL) sector in November. Photo: Handout
CATL’s subsidiary Autoflight, a drone maker, launched a waterborne vertiport to support the electric vertical take-off and landing (eVTOL) sector in November. Photo: Handout

China Economy

China’s five-year road map for the power sector

Beijing has set a target of generating 50 per cent of electricity using non-fossil fuels by 2030 in its latest push for energy security.

China Business

Despite global tensions, China’s rare earth producers have profitable first half

Rapid expansion of AI supply chain has given rare earth prices a strong upwards trajectory, analyst says.

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China Business

China’s drug makers are speeding up – will AI be their secret weapon?

Chinese biotech firms are striking big global deals as drug makers, but could artificial intelligence take them to the next level?

Illustration by Henry Wong
Illustration by Henry Wong

Markets

Can Hong Kong’s listing reform 2.0 win over innovative firms?

The reforms enhance the city’s appeal for AI, biotech and other firms by slashing the market cap threshold and enabling confidential filings.

Big Tech

Competition or ‘co-opetition’: how is convergence shaping Sino-US AI race?

Speech by CEO of Chinese AI start-up at Nvidia event in US highlights symbiotic nature of tech relationship despite geopolitical tensions.

China EVs

How China’s EV makers think they can outrun disastrous price wars

At Beijing’s urging, an industry largely built on discounting must hold the line on prices and convince buyers to pay for better technology.

Illustration: Lau Ka-kuen
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OPINION
Nicholas Spiro

Macroscope | US efforts to prop up the yen risk doing more harm than good

Nicholas Spiro
Bob Savic

Opinion | Chinese and Western firms are teaming up even as governments fight

Bob Savic
6
Liu Min

Opinion | Hong Kong’s Chinese bond futures are a major step for the global yuan

Liu Min
Howard Yu

Opinion | China’s next export is the world’s factory itself

Howard Yu
7
Bernard Chan

Opinion | Hong Kong must wake up to the cold hard geopolitics of AI

Bernard Chan
Nicholas Spiro

Macroscope | Emerging markets have a concentration problem. Investors will have to live with it

Nicholas Spiro
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MULTIMEDIA
Video

Could the world’s second trillionaire come from China?

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02:56
Video

How China’s malls are trying to stay relevant

Wire
02:34
Video

Pony.ai set to further open China’s autonomous-driving frontier

Pony.ai
07:39
Video

What’s behind HSBC’s privatisation of Hang Seng Bank?

HAng Seng
04:37
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