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Some Chinese merchants say they have been asked by Amazon to stop offering products at a cheaper price on Temu. Photo: EPA-EFE

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.

Mainland Chinese retailers make their presence felt in Hong Kong

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China’s CATL launches EV chassis that can withstand high-speed crash

China Business

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.

Workers at an SAIC Motor workshop in Shanghai. Photo: Xinhua
Workers at an SAIC Motor workshop in Shanghai. Photo: Xinhua

China Business

Hang Seng Index on track to close above 20,000 on mainland Chinese buying

The benchmark gained 1.1 per cent, the most in nearly two weeks, while the turnover on the exchange was 14 per cent below average.

Companies

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.

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Markets

Hong Kong derivatives trading hits record high amid market volatility

More than 377 million futures and options have changed hands on the exchange this year, an increase of 14 per cent from a year earlier.

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China’s stimulus bazooka helped spur Hong Kong’s derivatives market. Photo: Edmond So
China’s stimulus bazooka helped spur Hong Kong’s derivatives market. Photo: Edmond So

Banking & Finance

MetLife to buy Hong Kong tycoon Richard Li’s PineBridge in asset management push

New York-based insurer’s arm will pay US$800 million for PineBridge, which manages about US$100 billion in assets.

Big Tech

Foxconn invests in EV battery plant in China’s iPhone city

The US$82 million capital injection marks the Taiwanese giant’s latest foray into the electric-vehicle sector.

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.

A Dahua security camera. Photo: AP Photo

China

Chinese workers found in ‘slavery-like conditions’ at BYD site in Brazil

Officials said staff were working excessively long hours while being kept in ‘degrading conditions’ in their accommodation.

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BYD’s electric vehicle (EV) factory’s construction site in Camacari, Bahia province, Brazil. Photo: Reuters
BYD’s electric vehicle (EV) factory’s construction site in Camacari, Bahia province, Brazil. Photo: Reuters

Tech Trends

China’s foldable smartphone shipment growth slows amid global dip in demand

Huawei remains the bestselling foldable smartphone vendor in China, accounting for around half of total domestic shipments.

Tech Trends

China’s industrial robot sales shrink on ‘tightening demand’

Total industrial robot deliveries this year are estimated to reach 300,000 units, down 5 per cent from 2023.

East Asia

Japan’s Honda and Nissan join forces to create world’s third-largest carmaker

This move comes as the industry transitions away from fossil fuels and towards electric vehicles, where Japanese companies have lagged behind their rivals.

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Logos of Nissan Motor Corporation and Honda are seen at a joint press conference on their merger talks, in Tokyo, Japan on December 23. Photo: Reuters

Banking & Finance

Ex-Citigroup stock trader wins unfair dismissal case in Hong Kong

Citigroup was also sued by traders it fired in London and Tokyo before being fined by the SFC in 2022.

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People walking across Des Voeux Road Central, Hong Kong. Photo: Shutterstock
People walking across Des Voeux Road Central, Hong Kong. Photo: Shutterstock

Business

Builder Jinke Property reveals details of court-supervised debt restructuring plan

Jinke expects to reduce its liabilities-to-assets ratio to around 30% from more than 90%.

Blockchain

Bitcoin records first weekly decline since Donald Trump’s US election victory

The original cryptocurrency was down more than 7 per cent for the seven-day period through 9:27am on Monday in Singapore.

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Business

Exclusive | Getting past poker: Sands China drives Macau to diversify economy

Xi Jinping to visit Macau for 25th anniversary of handover as Sands China unveils non-gaming strategy.

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Grant Chum. Artwork by Lau Ka-kuen
Grant Chum. Artwork by Lau Ka-kuen

Climate and energy

Hong Kong’s status as aviation, maritime hub faces green fuel challenge

Hong Kong has to act fast if it wants to become a green fuel hub for the aviation and maritime sectors, as both Singapore and China are way ahead, analysts say.

Blockchain

Decentralised kingdom: bitcoin’s Trump bump and how China lost its crypto crown

As the world’s factory, China cornered the market on bitcoin mining, leading to a flurry of crypto business activity before a harsh crackdown in 2021.

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China Business

Global CEOs see new hopes, old threats in Hong Kong vs Trump 2.0

‘People are leery of investing a lot of money in a country that is part of geopolitical tensions,’ Oaktree Capital’s Howard Marks says.

Illustration: Henry Wong
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OPINION
Scott Cheng,David Ketchum

Opinion | Weakest link in Hong Kong’s tech ecosystem? Scale-up funding

Scott Cheng
David Ketchum
David Dodwell

Outside In | Does Trump’s tariff-happy team realise China is playing weiqi, not chess?

David Dodwell
Andrew Sheng

Opinion | In a world fraught with risk, Trump will add to the bumps

Andrew Sheng
Nancy Qian

Opinion | How China can achieve its next wave of economic growth

Nancy Qian
7
Nicholas Spiro

The View | Japan’s economic prospects a big theme in Asian real estate

Nicholas Spiro
Nikola Mikovic

Opinion | Hong Kong and Xinjiang could be the core of Kazakhstan’s China strategy

Nikola Mikovic
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MULTIMEDIA
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How Sands China is driving Macau 3.0

02:33
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NBA, Sands China collaborate to stage pre-season games in Macau

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Bitcoin surge stalls as crypto investors grow cautious

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

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