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Illustration: Henry Wong
Artificial intelligence

China takes confident strides to develop more AI innovation in 2026

‘China’s tech innovation is poised for policy-driven growth in 2026, with AI placed at the centre of the country’s economic agenda,’ NYU’s Winston Ma says.

Banking & finance

More issuers turn to Dubai listings as yuan bonds gain traction in Middle East

Semiconductors

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

Electric & new energy vehicles

China’s EV sector doubles down on discounts and cheap financing as growth cools

Carmakers are shifting from straight price cuts to subsidised loans and feature-packed models, as China’s EV price war drags on.

Beijing has urged the sector to rein in price wars since July amid deflationary pressures, with even market leader BYD reporting its biggest net profit drop in more than four years. Photo: Xinhua
Beijing has urged the sector to rein in price wars since July amid deflationary pressures, with even market leader BYD reporting its biggest net profit drop in more than four years. Photo: Xinhua
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.

Hong Kong stock market

Hong Kong stocks jump into 2026 with biggest surge since May

Investors expect Beijing’s ‘policy pivot’ to continue, with a focus on demand-side stimulus and stabilising the housing market, analyst says.

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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.

Zhang Wen, chairman and CEO of Biren, bangs the gong at the company’s listing ceremony in Hong Kong on January 2, 2026, as HKEX CEO Bonnie Chan (left) and Financial Secretary Paul Chan (second from right) look on. Photo: Jonathan Wong
Zhang Wen, chairman and CEO of Biren, bangs the gong at the company’s listing ceremony in Hong Kong on January 2, 2026, as HKEX CEO Bonnie Chan (left) and Financial Secretary Paul Chan (second from right) look on. Photo: Jonathan Wong
Mergers & Acquisitions

China’s M&A revival points to deeper investor confidence in growth prospects

Deal value is expected to rise, with strategic transactions and overseas ambitions driving momentum.

Hong Kong

Chinese and Asian suppliers in limbo over fashion chain Claire’s bankruptcy

Suppliers across Asia pursue legal action, but debt recovery prospects remain uncertain.

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
Semiconductors

US grants TSMC annual licence to import American chipmaking tools into China

The approval ‘ensures uninterrupted fab operations and product deliveries’, according to the world’s largest contract chipmaker.

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Washington has granted TSMC’s Nanjing operation an annual licence to import US chip manufacturing equipment into China. Photo: Shutterstock
Washington has granted TSMC’s Nanjing operation an annual licence to import US chip manufacturing equipment into China. Photo: Shutterstock
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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Mainland China

Why Air France-KLM remains bullish on China-Europe travel market despite hurdles

Chinese travellers drive leisure and business bookings as airline eyes long-term growth despite Russian airspace restrictions.

Artificial intelligence

China’s Moonshot AI raises US$500 million in latest funding round: report

The Kimi AI model developer is now valued at US$4.3 billion, with cash reserves worth US$1.4 billion.

Kimi developer Moonshot AI is in no rush to go public after raising a hefty sum in its latest funding round. Photo: Shutterstock
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.

Bookings for stand-alone villas during the 2026 New Year’s holiday period have surged, according to Tujia. Photo: Shutterstock
Bookings for stand-alone villas during the 2026 New Year’s holiday period have surged, according to Tujia. Photo: Shutterstock
China property

China housing market gets VAT relief on resales but demand outlook stays subdued

Policy lowering VAT to 3 per cent reduces seller costs but demand recovery is key to stabilising the housing sector, property agents say.

Semiconductors

Nvidia asks chipmaker TSMC to ramp up H200 production amid China demand: sources

Chinese tech companies place orders for more than 2 million H200 chips for 2026, according to sources.

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Electric & new energy vehicles

Beijing renews trade-in subsidy scheme amid domestic car market’s gloomy outlook

Buyers who replace their petrol and electric cars with new vehicles will receive a cash subsidy of up to US$2,858 per unit.

A BYD electric car at an exhibition in Shanghai. Buyers of an electric vehicle for replacement purposes would get a subsidy equivalent to 12 per cent of the newly bought car’s price. Photo: AFP
A BYD electric car at an exhibition in Shanghai. Buyers of an electric vehicle for replacement purposes would get a subsidy equivalent to 12 per cent of the newly bought car’s price. Photo: AFP
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.

IPO

China AI start-up MiniMax kicks off US$538 million Hong Kong IPO

Start of Shanghai-based company’s share sale follows launch of rival Zhipu’s US$560 million IPO a day earlier.

Hong Kong stock market

Hong Kong, mainland China stocks finish year with world-leading gains

City’s benchmark Hang Seng Index ends 2025 up 28 per cent, while the CSI 300 Index of mainland stocks rises 18 per cent.

Inbound travellers at Hong Kong International Airport in Chek Lap Kok during the Christmas and New Year holidays. 27DEC25. SCMP / Eugene Lee
ByteDance

Exclusive | ByteDance to pour US$14 billion into Nvidia chips in 2026 as AI demand surges

Chinese unicorn’s computing needs have climbed across its portfolio of popular apps, cloud unit Volcano Engine and large language models.

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ByteDance plans to spend about 100 billion yuan on AI chips from Nvidia in 2026 if the US company is allowed to sell its H200 graphic processing units in China, sources say. Photo: Handout
ByteDance plans to spend about 100 billion yuan on AI chips from Nvidia in 2026 if the US company is allowed to sell its H200 graphic processing units in China, sources say. Photo: Handout
Mainland China

China’s second-hand boom fuels bruising battle for trade-in traffic

Recycling platform ATRenew is scaling up as China’s young consumers shed the stigma around second-hand shopping.

Artificial intelligence

China-founded Tripo AI updates 3D content platform as users more than double

‘This shows that we’re on the right track,’ founder and CEO Simon Song Yachen says.

Artificial intelligence

China-founded AI start-up Manus acquired by Meta for ‘billions’

Deal will bring Singapore-based Manus’ ‘leading agent to billions of people’, Meta says.

Since its launch, Manus has generated industry buzz for its capabilities as well as its limited and highly sought-after invitation codes. Photo: Shutterstock
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