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A CATL display is seen at the Beijing International Automotive Exhibition, April 30, 2024. Photo: Shutterstock Images

China Business

CATL expands green energy footprint with 45% stake in Hangzhou Zhonhen Electric

As part of the deal, CATL will be entitled to appoint one board director and one general manager of the listed company.

More Chinese banks claw back bonuses, cut salaries despite mixed profit recovery

Yiwu market owner eyes Hong Kong IPO to support overseas expansion

Tech

Hangzhou ‘Six Little Dragons’ member Manycore seeks US$130m from Hong Kong IPO

The spatial design software developer is selling 161 million shares priced between HK$6.72 and HK$7.62 each, with listing set for April 17.

Manycore’s flagship products include its spatial design platform Kujiale, also known as KuSpace, and its international offering Coohom. Photo: CFOTO/Future Publishing via Getty Images
Manycore’s flagship products include its spatial design platform Kujiale, also known as KuSpace, and its international offering Coohom. Photo: CFOTO/Future Publishing via Getty Images

China EVs

Volkswagen tests China’s appetite for locally developed EVs

The three models, which will be launched over the next two weeks, use technology developed by Volkswagen’s Chinese partners.

Banking & Finance

Everest’s US$250 million buy signals rising global appetite for China biotech

Sovereign wealth funds from Singapore and Abu Dhabi join Chinese state capital as cross-border biotech licensing reaches record highs.

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Business

MPF growth streak breaks as assets fall 6 per cent in March

Average pension savings fell HK$20,071 in March, leaving members HK$4,556 lower for the quarter.

Total MPF assets fell to HK$1.532 trillion (US$196 billion) at the end of March, down HK$99.2 billion. Photo: Handout
Total MPF assets fell to HK$1.532 trillion (US$196 billion) at the end of March, down HK$99.2 billion. Photo: Handout

Big Tech

AI fuels global trade growth as China-US flows shift, McKinsey finds

Data-centre expansion and AI investment push global trade ahead of economic growth, consultancy says.

Policy

China’s Zhipu AI open-sources GLM-5.1, raises prices to trim gap with US rivals

The company’s second price increase this year signals a push to monetise advanced AI models while keeping costs below US peers.

Banking & Finance

More global firms eye Hong Kong for cheaper yuan loans, bonds: StanChart

The HKMA yuan facility charges an interest rate equal to the Shanghai interbank rate, which is 200 basis points lower than the US fed rate.

A bank clerk counts Chinese 100 yuan notes in Shanghai. Photo: AP

Policy

China’s DeepSeek adds expert chatbot mode ahead of much-awaited V4 release

The Hangzhou start-up’s latest chatbot update sparks speculation over whether the expert mode is linked to the long-delayed V4 model.

The changes come ahead of the much-anticipated release of DeepSeek’s next-generation flagship model V4 this month. Photo: Reuters
The changes come ahead of the much-anticipated release of DeepSeek’s next-generation flagship model V4 this month. Photo: Reuters

China Business

Chinese carmakers bet on solid-state batteries to drive next EV phase

Carmakers push next-generation battery tech as they chase longer range and improved safety, despite high costs.

China Business

China’s Sigenergy Technology seeks US$561.6 million from Hong Kong IPO

The Shanghai-based energy storage systems provider is selling 13.57 million shares at HK$324.20 each.

China Economy

‘No alternative but to comply’: investors’ foreign income in China’s crosshairs

Ministry says 11.5% growth in personal income tax revenue partly driven by ‘significant rise in income from share transfers and dividends’.

Some mainland Chinese retail investors are considering shifting their capital to US-based brokerages. Photo: Getty Images/AFP

China Business

Stocks rise and oil slumps on US-Iran truce as Alibaba leads AI charge

Asian stocks found footing and oil plunged after a two-week ceasefire was reached, subject to Tehran’s vow to completely reopen the Strait of Hormuz.

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Hong Kong stocks rose sharply on Wednesday after the US and Iran agreed to a two-week ceasefire. Photo: SCMP
Hong Kong stocks rose sharply on Wednesday after the US and Iran agreed to a two-week ceasefire. Photo: SCMP

China Business

Global drug makers face pricing pressure as China targets affordable healthcare

As pharmaceutical firms navigate China’s aggressive pricing reforms, their profits could be squeezed further this year.

5

Banking & Finance

Barclays boosts Hong Kong presence to tap thriving IPO market

C.S. Venkatakrishnan said the bank is increasing its outlay on talent and technology across its investment banking and trading units.

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Blockchain

Has Hong Kong laid the groundwork to become a world-leading crypto hub?

With its regulatory clarity and superconnector edge, the city is drawing global crypto firms as it emerges as a premier Web3 hub.

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Illustration by Lau Ka-kuen
Illustration by Lau Ka-kuen

Tech Trends

Inside the OpenClaw AI mania in China, as security fears and enthusiasm surge

Appeal of autonomous AI agent spurs rapid adoption across country, from tech pros to retirees seeking a ‘digital staff’, but data wipes mar its rise and trigger warnings.

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Business

Hong Kong, Sydney or Dubai? Prime real estate investors take their pick

Rich buyers are reshaping ultra-luxury property markets from Sydney and Hong Kong to Dubai, drawn by each city’s unique selling proposition.

Banking & Finance

The big cornerstone comeback: what’s driving investors back to Hong Kong IPOs?

After four subdued years, the cornerstone investors that anchor Hong Kong’s IPO market are returning in force, reshaping the deal landscape.

Illustration: Lau Ka-kuen
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OPINION
Anthony Rowley

Macroscope | Why dollar and gold prices are looking abnormal amid Iran war

Anthony Rowley
Nicholas Spiro

The View | War-induced interest rate shocks unlikely to upset Asia’s property markets

Nicholas Spiro
Nicholas Spiro

Macroscope | China is weathering the Iran war oil shock better than others in Asia

Nicholas Spiro
Muyi Yang,Dinita Setyawati

Opinion | Why Asia’s future depends on breaking the shackles of fossil fuels

Muyi Yang
Dinita Setyawati
Matteo Giovannini

Opinion | Why Hong Kong could be the next global hub for gold trading

Matteo Giovannini
Wang Xiangwei

Opinion | Now is the time for China to show it’s serious about opening up

Wang Xiangwei
4
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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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