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China economy
ASML CFO Roger Dassen attends a news conference after the company’s fourth-quarter earnings report in 2020. Photo: Reuters
Semiconductors

ASML reports heated global demand in 2025, but cools China outlook

US limits on ASML’s China trade continue to define the company’s growth pattern, with overall sales up despite China revenues falling.

IPO

3 Chinese firms add to Hong Kong’s IPO boom with US$2 billion in fundraising

Hong Kong stock market

Hong Kong stocks rise for seventh day, briefly cross 28,000 mark

Semiconductors

Hygon’s chips ‘safe’ from AMD security flaw amid China’s tech self-reliance push

That result shows Hygon’s efforts in redesigning the chip architecture licensed from AMD with self-developed innovations.

A Hygon accelerator used in artificial intelligence model training and inference. Photo: Hygon
A Hygon accelerator used in artificial intelligence model training and inference. Photo: Hygon
Hong Kong stock market

Muyuan Foods courts cornerstone investors for Hong Kong listing

Thai conglomerate expected to join a group of cornerstone investors in a deal that could raise about US$1.5 billion.

Artificial intelligence

Moonshot’s newest release narrows US-China AI model development gap: analysts

Kimi K2.5 raises questions about the potency of US controls on advanced chips to constrain China’s AI efforts, Brookings’ Kyle Chan says.

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Semiconductors

Beijing clears Nvidia’s H200 imports, easing chip crunch for China tech giants

More than 400,000 H200 chips reportedly approved for ByteDance, Alibaba and Tencent as China balances AI needs with tech self-reliance push.

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The first batch of Nvidia chip shipments is expected to go to China’s Big Tech companies. Photo: Shutterstock
The first batch of Nvidia chip shipments is expected to go to China’s Big Tech companies. Photo: Shutterstock
Artificial intelligence

‘Teach our children well’: Jack Ma urges changes to China’s education in AI era

China’s educators must teach students to ask thousands of good questions, rather than give the same correct answer, Ma says.

videocam
Artificial intelligence

Price rises on horizon for Chinese cloud firms after Google, AWS set new rates

Surging AI workloads, memory prices push Chinese cloud providers to consider increases after global peers act.

China’s private sector

Pop Mart rallies in Hong Kong on aggressive push into US retail market

Shares of Labubu toymaker Pop Mart jumped after the Chinese firm unveiled plans to open more than 20 new stores in the US this year.

Interior signage featuring Pop Mart’s logo and collectible characters at a store in San Francisco. Photo: Getty Images
Luxury in China

As LVMH returns to growth, is the slump in China’s luxury market finally over?

LVMH saw its sales in China rise in the second half of 2025, as the vast Chinese luxury market shows signs of recovery.

videocam
Two shoppers view the handbags they just bought at a Louis Vuitton store in Shanghai. China’s luxury market is showing signs of recovery after a sharp decline in sales in 2024. Photo: Getty Images
Two shoppers view the handbags they just bought at a Louis Vuitton store in Shanghai. China’s luxury market is showing signs of recovery after a sharp decline in sales in 2024. Photo: Getty Images
Banking & finance

Hong Kong’s US$8 billion wealth fund eyes fintech, aerospace and AI for growth

The Hong Kong Investment Corporation will use the city’s advantages amid global competition, geopolitical challenges, CEO Clara Chan says.

Fintech

China second to US in global AI finance index, with Hong Kong third as city hub

China rated the strongest country in converting AI capacity into production use, while Hong Kong trailed New York and London as finance hub.

China’s private sector

Partnerships, not plants: Chinese companies rethink overseas expansion strategy

Executives are urging a measured approach as Chinese firms turn to global markets amid intensifying competition at home.

Brian Gu, vice chairman and co-president of Xpeng. Photo: Li Cao
Hong Kong stock market

Hong Kong stocks maintain momentum to hit 4.5-year high

Busy Ming Group, China’s largest snack and drinks retailer, gains 69 per cent on its Hong Kong debut.

Hong Kong stocks continued adding to their recent gains on Wednesday. Photo: Sam Tsang
Hong Kong stocks continued adding to their recent gains on Wednesday. Photo: Sam Tsang
Semiconductors

Iluvatar CoreX targets Nvidia’s Rubin with GPU road map amid China chip push

Chinese chip designer outlines a multi-year GPU plan to outperform Nvidia’s next-generation Rubin platform within two years.

China manufacturing

Over 70% of European firms in China review supply chain strategies: survey

The findings show how European firms must maintain a delicate balancing act between China’s tight security and focus on self-reliance.

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Biomedicine: Industry Trends

China could approve first AI-designed drug next year, Merck executive says

AI and genetics are creating a ‘seismic shift’ in the pharmaceutical business, experts on Asian Financial Forum panel say.

AI will allow drug makers to pick better molecules, make better medicines and improve molecule design, Amgen executive says. Photo: Shutterstock
AI will allow drug makers to pick better molecules, make better medicines and improve molecule design, Amgen executive says. Photo: Shutterstock
Artificial intelligence

China’s Alibaba, Moonshot claim latest AI models challenge OpenAI, Google

Alibaba says Qwen3-Max-Thinking is its ‘best model so far’, while Moonshot calls Kimi K2.5 the world’s most powerful open-source model.

Artificial intelligence

China’s Baidu merges key app businesses to drive consumer AI push

Merger of Wenku and Wangpan into a new AI unit comes as tech firms race to turn their services and apps into the next ‘super app’.

Artificial intelligence

Alibaba’s Qwen-3 becomes one of world’s first AI models to operate in orbit

The entire Qwen-3 process – from uploading queries to on-orbit inference and sending results back to Earth – took less than two minutes.

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Adaspace Technology’s constellation of 12 satellites, equipped with AI-powered computing systems, was launched on May 14, 2025. Photo: Handout
Mergers & Acquisitions

China’s Anta snags Puma from France’s Pinault family in US$1.8 billion deal

China’s largest sportswear firm is acquiring 29 per cent to become Puma’s biggest shareholder while strengthening its global expansion.

The acquisition of Puma will accelerate Anta’s multi-brand globalisation strategy, according to the Chinese sportswear brand. Photo: Reuters
The acquisition of Puma will accelerate Anta’s multi-brand globalisation strategy, according to the Chinese sportswear brand. Photo: Reuters
Hong Kong stock market

Upbeat China industrial profit data lifts Hong Kong stocks for a fifth day

Profit at China’s industrial firms rose 5.3 per cent year on year in December, versus a drop of more than 13 per cent in November.

Electric & new energy vehicles

Xpeng targets overseas sales surge in 2026 as China EV battle goes global

Guangzhou-based EV maker targets more than 90,000 overseas deliveries this year amid fierce competition at home.

Artificial intelligence

How China’s AI video generator Kling challenges Google’s Veo, OpenAI’s Sora

With Kuaishou’s tool headed for US$240 million in annual revenue, the firm is one of the world’s most undervalued AI stocks, JPMorgan says.

Kling’s motion control feature, which easily lets puppies or any characters dance, fuelled viral trends. Photo: Handout
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