Shanghai
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Shanghai

Shanghai
Shanghai
With a population of more than 24 million, Shanghai, is a major centre for finance, business and economics, science and technology, and fashion, among other disciplines. It is home to the Port of Shanghai, the world’s busiest container port, and Shanghai Pudong International Airport, one of the world’s 10 busiest airports by passenger traffic.
Head of Government
Party Secretary of Shanghai Chen Jining
South Korean President Lee Jae Myung (left) shakes hands with Chinese Premier Li Qiang at the Diaoyutai State Guesthouse in Beijing on Tuesday. Photo: Handout
China-South Korea relations

Li Qiang and Lee Jae Myung back free trade and multilateralism in Beijing talks

In meeting with visiting South Korean president, Chinese premier calls for cooperation in AI, new energy and high-end manufacturing.

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Electric & new energy vehicles

Nvidia chooses China’s Hesai for lidar in Hyperion autonomous driving platform

Electric & new energy vehicles

Tesla’s China sales hit record as EV buyers race to beat tax increase

IPO

MiniMax’s Hong Kong IPO set to hit US$538 million amid Chinese AI sector frenzy

The Alibaba-backed firm is set to price its 25.4 million shares at HK$165 each, the top end of its marketed range, sources say.

MiniMax, founded in early 2022 by former SenseTime veteran Yan Junjie, develops multimodal AI models. Photo: Shutterstock
Chinese culture

For Shanghai’s elderly, dancing ‘makes us feel we still have value’

Shanghai’s elderly are flocking to the city’s dance halls for exercise, socialising and entertainment, with some venues open as early as 6am.

China property

Property industry an enemy within for Beijing’s economic targets

Ripple effect from further downturn would threaten economic growth and put more developers, workers and even banks at risk, analysts warn.

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Hong Kong economy

Hong Kong to boost tech, financial services integration during AI boom: Paul Chan

Minister hails city’s role as global capital market for mainland Chinese tech firms, citing AI chipmaker Biren’s 82 per cent gains at debut.

Financial Secretary Paul Chan (second from right) attends the listing ceremony for Biren Technology with the firm’s CEO Zhang Wen (second from left). Photo: Jonathan Wong
IPO

Turning point: China doubles IPOs in 2025 amid eased curbs to boost tech push

CSRC reforms revive fundraising momentum with 115 firms generating US$18.3 billion across mainland China’s exchanges.

Crime in Hong Kong

Chen Zhi’s Hong Kong firms rocked by resignations and frozen assets

Police freeze HK$2.75 billion in assets tied to tycoon amid probes into alleged telecoms fraud, money laundering and ‘pig butchering’ scams.

Electric & new energy vehicles

Weak year-end sales cloud China’s EV outlook, keeping price-war fears alive

A weaker-than-expected year-end rush and falling deliveries at major brands are stoking fears of another price war.

BYD electric cars await shipment to Brazil at Taicang Port in Suzhou in China’s eastern Jiangsu province. Photo: AFP
Science

China’s biopharma sector ‘in prime position to challenge US leadership’

American commission issues stark warning, as analytics firm Clarivate reports that Chinese innovative drug development has entered new phase.

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Illustration: Lau Ka-kuen
Semiconductors

China’s top contract chipmakers pursue acquisitions amid self-sufficiency drive

Hua Hong Semiconductor set to close a US$1.2 billion deal, days after SMIC says it will take full control of a subsidiary for US$5.8 billion.

IPO

Biren surges, China military drills, CES technology show

This week: Biren Technology jumps on Hong Kong debut, PLA holds drills off Taiwan and factory activity returns to expansion. Next week: Chinese tech firms at CES, December CPI release, HSBC-Hang Seng Bank buyout vote, and more.

IPO

Hong Kong’s IPO dominance in 2025 set to carry on into new year

The city’s exchange secures global bragging rights after 114 companies raised US$37.22 billion on the main board in 2025, according to LSEG.

Gong ceremonies for new listings on the Hong Kong stock exchange, such as this one on December 30, 2025, are expected to occur frequently in 2026. Photo: Sun Yeung
Hong Kong tourism

Exhibition on classic Hong Kong police films opens at old station

‘Yau Ma Tei Police Station: A Cinematic Journey’ pays tribute to hit movies such as Infernal Affairs and New Police Story at reopened venue.

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Among the exhibition’s highlights is a replica of a detective’s office from the 1970s and 1980s. Photo: Dickson Lee
Hong Kong

Baidu spin-off Kunlunxin joins wave of Chinese semiconductor IPOs in Hong Kong

Last year, 20 Chinese semiconductor IPOs raised over 45 billion yuan (US$6.4 billion), with six of them listing in December.

IPO

Shares in Chinese GPU start-up Biren soar in Hong Kong listing

Shares leap 82 per cent in debut after retail investors’ demand exceeds supply by 2,347 times.

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IPO

Chinese rocket firm LandSpace moves towards US$1 billion IPO

Listing is the first accepted under a fast-track process for pre-revenue rocket companies, as China prioritises space development.

A full-size model of LandSpace’s Zhuque-1 rocket, is displayed at its factory in Huzhou, Zhejiang province, on December 17, 2025. Photo: Reuters
China’s private sector

Small restaurants in China starve as consumers suppress spending appetite

Per-capita spending per meal has dropped nearly 24 per cent since 2023, data provider says, as property slump sows uncertainty.

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Tourism

China’s Gen Z consumers drive rise in homestay bookings to ring in the new year

Gen Z travellers made up more than 50 per cent of total homestay bookings for the 2026 New Year’s holiday period.

China trade

China’s January 1 silver curbs to deepen global crunch amid volatility: analysts

Beijing’s new export-licensing system seen squeezing foreign buyers, pushing price towards US$100 an ounce; Elon Musk joins warning chorus.

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Bars of silver are stacked at a processing plant in Glogow, Poland. Spot silver briefly surpassed US$80 an ounce for the first time in December. Photo: Reuters
Shanghai New Year's Eve stampede

Multiple Chinese cities curb New Year’s Eve countdowns over safety

Authorities have issued pre-emptive notices and detained those who spread rumours of non-existent fireworks displays and mass celebrations.

Canton Tower in Guangzhou is among popular landmarks in China where no large-scale mass activity will be organised for New Year’s Eve. Photo: China News Service via Getty Images
China economy

Opinion | How China’s home-grown luxury labels took on Western brands

Chinese brands are gaining ground at home and worldwide as domestic consumers increasingly turn to labels with Chinese imagery and values.

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IPO

China’s DRAM giant CXMT plans US$4.2 billion IPO on Shanghai’s Star Market

Listing aims to fund wafer expansion and DRAM upgrades as Beijing drives tech self-reliance.

China-South Korea relations

South Korea’s Lee Jae-myung to visit China on economic and nuclear mission

The pragmatic president is seeking to balance relations with Beijing while keeping Washington onside.

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The presidents of China and South Korea are expected to meet in Beijing next week. Photo: AFP
IPO

China’s Zhipu AI launches US$560 million share sale amid heated IPO tech race

The company, marketed overseas as Z.ai, eyes US$6.6 billion valuation with Hong Kong’s first large language model listing.

Zhipu AI is moving closer to becoming the first large language model developer listed in Hong Kong. Photo: Shutterstock
Food and Drinks

Yong Fu’s Ningbo cuisine evolution, from Shanghai tradition to Hong Kong fusion

The original Yong Fu’s sister branch uniquely adapts Ningbo cuisine, blending tradition with innovation to cater to regional tastes.

IPO

Insilico Medicine leads 6 Hong Kong IPOs, capping banner fundraising year

Debutants raise total of US$899 million as exchange wraps up one of the most active months for IPOs since 2021.

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