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Executives of MiniMax Group, Suzhou Ribo Life Science, Yunnan Jinxun Resources and HKEX at the IPO listing ceremony on Friday. Photo: Jonathan Wong
IPO

Chinese AI start-up MiniMax shines on Hong Kong IPO debut

The shares jump as much as 113.2 per cent to HK$351.80 before ending the day 109.1 per cent higher at HK$345.

Electric & new energy vehicles

Shanghai steps up oversight of delayed payment practices hurting suppliers

Mergers & Acquisitions

China’s Sinopec, CNAF to undergo consolidation, creating energy powerhouse

Banking & finance

TCM firms eye Hong Kong IPOs to fuel global expansion

Over the past year, 34 innovation and technology, life and health science companies set up or expanded their operations in Hong Kong.

A traditional Chinese medicine pharmacy at the Hong Kong Chinese Medicine Hospital in Tseung Kwan O. Photo: Edmond So
A traditional Chinese medicine pharmacy at the Hong Kong Chinese Medicine Hospital in Tseung Kwan O. Photo: Edmond So
IPO

3 Chinese AI, robotics stocks gain in Hong Kong debuts

Zhipu AI, Iluvatar CoreX and Edge Medical raised US$1.2 billion in their share offerings.

Made in China 2025

Chinese biotechs strike a record US$136 billion in out-licensing deals in 2025

Chinese drug makers signed 157 out-licensing deals with global pharmaceutical firms last year versus 94 a year earlier.

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Electric & new energy vehicles

Xiaomi’s refreshed SU7 turns up the heat on Tesla in China’s EV race

Updated SU7 model offers longer range – more than 900km (560 miles) on a single charge – and other advanced features.

A refreshed version of Xiaomi’s SU7 will be launched in April. Photo: AFP
A refreshed version of Xiaomi’s SU7 will be launched in April. Photo: AFP
Made in China 2025

Meow or never: China’s pudgy pets spark race for weight-loss drugs

Fosun and Huadong biotech labs eye feline obesity drugs as owners weigh cuteness against health risks.

Electric & new energy vehicles

China’s CATL, Nio deepen partnership to develop extended-life EV batteries

Joint effort highlights urgency as industry – including 40 million EV owners – braces for costly replacements.

Banking & finance

Citic Securities claims top spot in Asia-Pacific investment banking for 2025

Chinese rivals fill out the rest of the top five, while US bank Morgan Stanley comes in sixth.

Citic claimed the crown as the top bookrunner for Asia-Pacific-issued bonds with 6 per cent market share. Photo: Shutterstock Images
Electric & new energy vehicles

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

US carmaker’s share of world’s biggest EV market declines to slightly more then 4 per cent amid stern challenge from local rivals.

Tesla cars are displayed in a showroom in Beijing on April 4, 2025. Photo: Simon Song
Tesla cars are displayed in a showroom in Beijing on April 4, 2025. Photo: Simon Song
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.

Banking & finance

The ‘biology winter’ thaws: why investors are buying Hong Kong’s biotech IPOs

A wave of China out-licensing deals is feeding a biotech comeback in Hong Kong, where IPOs and follow-on placements are surging.

Fintech

Digital finance in 2026: what to expect as pilots move into real-world adoption

While digital money experiments promise greater efficiency, they also risk deeper fragmentation and regulatory pitfalls, experts warn.

Blockchain and Web3 technology are “inherently global”, but real-world applications must be “embedded in regulation and local use cases”, expert says. Photo: Shutterstock
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.

A man walks in front of residential buildings in Beijing on December 15, 2025. Photo: EPA
A man walks in front of residential buildings in Beijing on December 15, 2025. Photo: EPA
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.

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.

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Banking & finance

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

Dubai’s dim sum bond momentum points to investor confidence in China and diversification from the US dollar, says regulator.

Financial centres like Dubai are the key centrepoints of the quickly growing corridor between China and the Middle East, according to the Dubai Financial Services Authority. Photo: AFP
Financial centres like Dubai are the key centrepoints of the quickly growing corridor between China and the Middle East, according to the Dubai Financial Services Authority. Photo: AFP
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.

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.

Banking & finance

Hong Kong’s affluent investors are multimillionaires by 39: HSBC survey

HSBC, the city’s biggest lender, saw double-digit growth in the number of Hong Kong-dollar multimillionaires in 2025.

A man walks past a large HSBC billboard in Central, Hong Kong, on February 19, 2025. Photo: Elson Li
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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A costumed man promotes restaurant specials in Beijing on December 2, 2025. Photo: AFP
A costumed man promotes restaurant specials in Beijing on December 2, 2025. Photo: AFP
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.

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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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
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