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Xiaomi co-founder and CEO Lei Jun speaks at the launch of the YU7 SUV car in Beijing on May 22. Photo: AFP

China Business

Xiaomi’s SU7 SUV a hit with mainland Chinese motorists as bookings reach 240,000

Bookings for the SUV, priced from US$35,366, hit 200,000 in just three minutes, company says.

NWD meets 2025 sales target and wins commitment to refinancing

Anker partners with Apple battery supplier ATL after massive power bank recall

Business

Buyer linked to Agile’s lender picks up Hong Kong sites at 63% discount

Receivers hand over Hong Kong Island asset to buyer with ties to Agile’s mezzanine lender, records show.

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Agile surrendered the Hong Kong sites to its mezzanine lender after a default amid China’s housing crisis. Photo: AFP
Agile surrendered the Hong Kong sites to its mezzanine lender after a default amid China’s housing crisis. Photo: AFP

Banking & Finance

Chinese smartphone maker Honor moves closer to onshore share listing

Mainland market’s fourth-largest smartphone maker first announced plans to list A shares in November 2023.

Big Tech

Alibaba trims partnership as company bets on younger leaders

Nine partners – including former CEO Daniel Zhang – have left, bringing the number down from 26 to 17.

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Tech Trends

UN agency pushes AI ethics standards as US-China tech rivalry deepens

Unesco hosted a forum in Bangkok this week to drive the adoption of its AI ethics recommendations.

Thailand Prime Minister Paetongtarn Shinawatra delivers opening remarks during the Unesco Global Forum on the Ethics of Artificial Intelligence, in Bangkok on June 25, 2025. Photo: AFP
Thailand Prime Minister Paetongtarn Shinawatra delivers opening remarks during the Unesco Global Forum on the Ethics of Artificial Intelligence, in Bangkok on June 25, 2025. Photo: AFP

China Business

Trade deal, rate-cut bets lift Hong Kong stocks to best week in 4 months

Bets on a US interest-rate cut in September increased, with the odds rising to 93 per cent from 64 per cent a week ago.

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Commodities

Hong Kong has potential to become green marine fuel hub with Beijing’s backing

City can have a bigger say in green fuel trading and pricing if it becomes a trading hub, CIMC Enric president Leo Yang says.

World

US, China reach ‘understanding’, Xi to miss Brics summit: 7 highlights

From a Vietnamese mogul escaping death penalty to China’s new optical computing chip, here are a few highlights from SCMP’s recent reporting.

A handout photo from the Swiss Foreign Ministry shows US and Chinese flags before a bilateral meeting on trade relations, in Geneva, on May 10. Photo: AFP

Tech Trends

Over 40% of agentic AI projects forecast to be scrapped by 2027

Many current models do not have the maturity and agency to autonomously achieve complex business goals, Gartner analysts say.

More than 40 per cent of agentic AI products will be scrapped by 2027, according to Gartner. Photo: Reuters
More than 40 per cent of agentic AI products will be scrapped by 2027, according to Gartner. Photo: Reuters

Blockchain

Hong Kong sharpens crypto hub focus amid rising global competition

Hong Kong is seeking an early lead in stablecoins and tokenisation as Trump pushes the US to become the ‘crypto capital of the planet’.

Business

Person connected to HSBC banker buys luxury property for US$15.9 million

The sale comes as sentiment in the city’s property market improves gradually.

China Business

Xiaomi takes aim at Tesla with 4% cheaper YU7 SUV, a Model Y competitor

YU7 starts at around US$35,322; Xiaomi CEO says ‘we have set an unreasonable goal of beating the Model Y’.

Xiaomi CEO Lei Jun in Beijing. Photo: AFP

Banking & Finance

Shanghai Gold Exchange launches first offshore vault in Hong Kong

Vault witnesses several transactions of spot gold contracts after it becomes operational.

The exterior of the Shanghai Gold Exchange. Photo: CFOTO/Future Publishing via Getty Images
The exterior of the Shanghai Gold Exchange. Photo: CFOTO/Future Publishing via Getty Images

Banking & Finance

HKMC explores Greater Bay Area retirement options for senior residents

About 10,000 senior residents spent US$586 million on HKMC annuity policies in the first five months of this year, CEO Colin Pou says.

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Big Tech

Xiaomi enters ‘smart glasses war’ with first AI-powered eyewear

The tech giant announced its camera-equipped frames during an event on Thursday, leveraging its vast ecosystem in a crowded market.

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Big Tech

How Huawei’s silicon strategy defies US sanctions, advances China’s AI ambitions

Huawei is expected to ship about 700,000 Ascend AI processors in 2025, according to Mizuho estimates.

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Illustration: Brian Wang
Illustration: Brian Wang

Business

InvestHK pivots to support Hong Kong start-ups’ global growth

After 25 years promoting the city as an investment destination, InvestHK is now championing Hong Kong companies’ overseas expansion.

Banking & Finance

Step aside Shanghai, Hong Kong is China’s prize financial hub

Despite calling the two cities twin engines for finance, Beijing’s actions favour Hong Kong as China’s one true global funding hub.

Policy

Self-driving mining trucks offer a glimpse of China’s hi-tech future

A coal mine in Inner Mongolia showcases Beijing’s determination to transform traditional industries with advanced technologies.

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The world’s largest fleet of unmanned electric coal trucks demonstrates China’s resolve to upgrade its traditional industries. Illustration: Henry Wong
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OPINION
Nicholas Spiro

Macroscope | How unique US advantages are fuelling Trump’s reckless behaviour

Nicholas Spiro
7
James David Spellman

Opinion | We’re sleeping on threats from AI, shadow banking and cryptocurrency

James David Spellman
Alice Wu

Opinion | Hong Kong is bouncing back just at the right time for John Lee

Alice Wu
Yukon Huang

Opinion | How Beijing and Washington can find common ground

Yukon Huang
Regina Ip

Opinion | As Hong Kong’s financial sector soars, what about food and retail?

Regina Ip
6
Andy Xie

Opinion | Will markets wake up from the Taco bubble before it’s too late?

Andy Xie
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MULTIMEDIA
Video

China’s largest EV battery maker starts strong on HK stock market

China’s largest EV battery maker CATL celebrates strong debut at Hong Kong stock market
01:44
Video

Chinese EV maker Xpeng CEO unveils newest vehicles in Hong Kong

Chinese EV maker Xpeng CEO unveils newest vehicles in Hong Kong
01:58
Video

Asian stock markets fall as 104% tariffs target China

Stock markets in Asia resume slump as hefty US tariffs on China take effect
07:26
Video

How Alibaba.com is betting on AI to transform e-commerce

How Alibaba.com is betting on AI to transform e-commerce
11:13
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