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

Tech Trends

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.

57 minutes ago

China’s Gen Z consumers drive rise in homestay bookings to ring in the new year

2 hours ago

Multibillion Manus deal delights, but raises spectre of a China AI exodus

31 Dec 2025 - 9:00PM

Banking & Finance

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.

31 Dec 2025 - 5:30PM

Individuals selling homes within two years of purchase will be subject to a VAT rate of 3 per cent, down from 5 per cent, from January 1. Photo: Getty Images

Big Tech

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.

31 Dec 2025 - 5:03PM

China Business

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.

31 Dec 2025 - 4:30PM

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China Business

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.

31 Dec 2025 - 3:58PM

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

China Business

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.

31 Dec 2025 - 11:20AM

IPO Quote Profile

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.

31 Dec 2025 - 3:38PM

China Economy

Airbus scores major win in China with orders for 148 A320 aircraft

The flurry of orders, worth billions of US dollars, marks a big victory for the European aviation firm over US rival Boeing in a key market.

31 Dec 2025 - 9:46PMvideocam

Aircraft operated by Air China are parked at an airport in Beijing. The state-owned Chinese airline is one of several buyers in China to place orders for Airbus passenger jets in recent days. Photo: AFP

Big Tech

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.

31 Dec 2025 - 9:00AM

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

Companies

Exclusive | US anti-piracy firm Vobile buys top floor of Bank of America Tower at a discount

The Emmy-winning firm has bought the top floor of the US bank’s Admiralty office for US$25.4 million – more than 60 per cent below its peak.

31 Dec 2025 - 8:35AM

China Business

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.

31 Dec 2025 - 7:30AM

Tech Trends

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.

31 Dec 2025 - 7:00AM

Tripo AI’s flagship platform, Tripo Studio 1.0, generates 3D content from text or images in seconds. Photo: Handout

Business

Beijing trims property resale tax in fresh push to stabilise housing market

Under new rules, sellers will pay just 3 per cent VAT if they offload a property within two years of purchase, down from 5 per cent.

31 Dec 2025 - 11:08AM

Under new rules, individuals who sell a residential property within two years of buying it will pay VAT at 3 per cent instead of 5 per cent. Photo: Getty

Business

Hang Seng Bank to leave Hang Seng Index after 53 years if buyout passes

Brokers say the well-established benchmark is unlikely to be affected, as shareholders are poised to back HSBC’s privatisation plan.

30 Dec 2025 - 9:10PM

China Economy

How China is upgrading its digital yuan for the stablecoin era

Beijing is upgrading its digital currency in response to the rise of stablecoins, but the goal is to create a fundamentally different system.

31 Dec 2025 - 11:10AM

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China Business

From hope to hard numbers: China stocks will need profits to boost the bull run

Chinese shares surged in 2025 on a confidence-led re-rating – strategists now say the next leg in 2026 will hinge on an earnings uplift.

27 Dec 2025 - 10:00AM

Earnings, and not valuations, will be the main booster for China’s equities in the year ahead. Illustration: Henry Wong

China Business

Are Chinese biotechs what the doctor ordered as Big Pharma faces ‘patent cliff’?

US drug makers are racing to plug looming ‘patent cliff’ revenue gaps – and increasingly they are turning to China biotechs.

20 Dec 2025 - 8:57AM

Tech Trends

Sea change: China narrows AI gap with US 3 years after ChatGPT shock

The turning point came when DeepSeek released its V3 and R1 models, which were on par with OpenAI’s GPT and Meta’s Llama models at the time.

14 Dec 2025 - 12:57AM

Banking & Finance

Exclusive | Meet the Illinois farmer sowing the seeds of the world’s biggest IPOs of 2026

Jeff Rowe, a fifth-generation Illinois farmer, runs a Chinese-owned Swiss company in Basel that is aiming for one of the world’s largest IPOs in Hong Kong, due in 2026.

6 Dec 2025 - 11:18AM

Jeff Rowe, the CEO of Syngenta, at his family farm in the US state of Illinois on September 30, 2025. Photo: Anthony Collins/Handout

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

Pony.ai

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

HAng Seng

Taiwan firm creates clothing from banana waste

Banana

Gold scams in China and changing global politics

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