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The logo of Chinese AI company MiniMax on a phone in Beijing last month. Photo: AFP

Tech

China’s MiniMax releases AI model ‘designed for real-world productivity’

Company says it is ‘first frontier model … delivering on the promise of intelligence too cheap to meter’.

Hong Kong stocks decline after US rout on AI disruption jitters

Exclusive | Box office bust? The show may be over for another Hong Kong cinema

Tech

Will Chinese AI chip designer Enflame’s Shanghai IPO be another blockbuster?

Tencent-backed Enflame’s listing on the Star Market could follow successful recent flotations from peers Moore Threads, MetaX and Biren.

AI chip designer Enflame on Wednesday entered the inquiry stage of its initial public offering on Shanghai’s Star Market. Photo: Handout
AI chip designer Enflame on Wednesday entered the inquiry stage of its initial public offering on Shanghai’s Star Market. Photo: Handout

Tech

‘More than 600%’ memory price spike rattles China’s phone and broadband makers

China’s tech sector braces for a “memory winter”, with rising chip costs threatening handset output and slowing broadband rollouts.

Tech Trends

Policy to products: Web3 innovation takes centre stage at Consensus Hong Kong

SFC CEO Julia Leung Fung-yee announced that the regulator will greenlight virtual asset margin financing for clients with strong credit profiles.

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Big Tech

China’s Lenovo warns of ‘prolonged’ memory crunch, looks to AI for rebound

Top PC maker posts a 21 per cent profit drop amid chip squeeze, but bets on AI-powered devices to sustain growth amid industry upheaval.

Lenovo led the global PC market with a 26 per cent share in the fourth quarter after shipping 19.3 million units. Photo: Reuters
Lenovo led the global PC market with a 26 per cent share in the fourth quarter after shipping 19.3 million units. Photo: Reuters

Companies

Li Ka-shing tops Hong Kong’s billionaire list with US$45.1 billion: Forbes

The collective net worth of tycoons on Hong Kong’s 50 Richest list rose 22 per cent to US$366 billion.

China Economy

Chinese premier tours rare earths production hub amid rising US tech rivalry

Premier Li Qiang called for China to consolidate its lead in industries like rare earths, where Beijing has a strategic edge over Washington.

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China Business

Yuan rally puts fresh steam into Hong Kong’s dim sum bond revival

Issuance could approach US$140 billion as a firmer renminbi, low funding costs and policy support boost demand for offshore notes.

The People’s Bank of China on Wednesday set the yuan’s midpoint rate – the daily fixing – at 6.9438 per US dollar, its strongest level in nearly three years. Photo: Reuters

Tech

Alibaba’s Qwen tops 120 million orders in 6 days amid China’s AI shopping battle

Campaign has sparked a behavioural shift towards AI-powered shopping, which Alibaba says is becoming a more popular lifestyle choice.

The number of orders signals growing acceptance of AI-powered shopping. Photo: Getty
The number of orders signals growing acceptance of AI-powered shopping. Photo: Getty

China Business

China’s efforts to control EV price war sees carmakers paying vendors quicker

Only a handful of the nearly 50 mainland China-based EV builders have been able to turn a profit amid the price wars.

Banking & Finance

Hong Kong banks’ profit growth slows amid rising bad debt, slim margins

Profit growth slows to 7.3 per cent from 8.4 per cent a year earlier as bad loans exceed two-decade average, HKMA says.

Business

Hong Kong tycoon Joseph Lau’s kin sell Mid-Levels flat for US$12.8 million

Entity controlled by Lau’s eldest son Lau Ming-wai and former partner Yvonne Lui turns profit on deal amid firming prices in luxury segment.

The seller of the flat in The Albany in Mid-Levels made a 66 per cent gain on the property. Photo: Google

Big Tech

Baidu unveils AI-driven Wikipedia challenger in bid for global users

BaiduWiki, a version of the firm’s Baidu Baike online encyclopaedia, is available in English, Spanish, French, Russian and Japanese.

People gather near the Baidu booth at the Shanghai New Expo Center during the World Artificial Intelligence Conference 2025 in Shanghai on July 28, 2025. Photo: NurPhoto via Getty Images
People gather near the Baidu booth at the Shanghai New Expo Center during the World Artificial Intelligence Conference 2025 in Shanghai on July 28, 2025. Photo: NurPhoto via Getty Images

Markets

Hong Kong stocks slip as regulator summons tech firms over train tickets

Approaching Lunar New Year holiday also dampens investors’ enthusiasm for technology stocks, analyst says.

Banking & Finance

Shenzhen-listed Unisplendour abandons plan to raise funds in Hong Kong

The Tsinghua Holdings arm, however, will raise US$800 million via a private share placement on Shenzhen exchange.

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Business

How Western brands are adapting to China’s changing consumer landscape

Starbucks’ China stake sale signals a seismic shift, as global firms retreat amid rising competition, price wars and evolving consumer tastes.

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Illustration: Henry Wong
Illustration: Henry Wong

Tech Trends

Chinese firms set for market growth as the global memory super cycle heats up

Eye-watering DRAM prices are bad news for consumers and smartphone brands, but present an opportunity for Chinese firms led by CXMT and YMTC.

4

China Business

From labs to listings: capital markets are the next battleground in the AI race

Stock exchanges have become another barometer in the US-China tech rivalry as markets assess a wave of start-ups in real time.

Big Tech

China curbs US AI chips, shuns foreign capital in pursuit of tech self-reliance

These restrictions signify a new phase in the US-China tech war where ‘offensive and defensive roles have shifted’, says an analyst.

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Illustration: Henry Wong
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OPINION
Luca Mattei

Opinion | Why China keeps fossil fuels central even as it ramps up green energy

Luca Mattei
Nicholas Spiro

Macroscope | Blame Trump, not Asian investors, for gold and silver volatility

Nicholas Spiro
Matteo Giovannini

Opinion | Talk of digital yuan challenging dollar dominance misses real power shift

Matteo Giovannini
Wang Huiyao

Opinion | As China and Canada reset ties, they must strike while the iron is hot

Wang Huiyao
Roberto Bocca

Opinion | Clean energy works at scale. Now it must be coordinated

Roberto Bocca
Alex Lo

As I see it | Thank you, David Webb, you made Hong Kong a better place

Alex Lo
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MULTIMEDIA
Video

Pony.ai set to further open China’s autonomous-driving frontier

Pony.ai
07:39
Video

What’s behind HSBC’s privatisation of Hang Seng Bank?

HAng Seng
04:37
Video

Taiwan firm creates clothing from banana waste

Banana
01:00
Video

Gold scams in China and changing global politics

Wire
08:22
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