https://www.scmp.com/rss/10/feed Corporate business news on companies from Hong Kong and overseas. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Cheryl Arcibal Cheryl Arcibal CK Hutchison Holdings, one of the flagship companies of billionaire Li Ka-shing, has no plans to sell ParknShop in Hong Kong to one of its largest competitors, according to a senior executive of the supermarket chain’s owner and operator. “There is really no such plan to sell ParknShop,” said Dominic Lai, group co-managing director of CK Hutchison, responding to a question at the company’s annual general meeting on Thursday. The group had been reported to be in talks with Jardine Matheson about... https://www.scmp.com/business/article/3354370/no-parknshop-sale-li-ka-shings-ck-hutchison-rules-out-supermarket-merger-wellcome?utm_source=rss_feed https://www.scmp.com/business/article/3354370/no-parknshop-sale-li-ka-shings-ck-hutchison-rules-out-supermarket-merger-wellcome?utm_source=rss_feed Thu, 21 May 2026 09:32:20 +0000 Wency Chen Wency Chen Alibaba Group Holding’s heavy investments in artificial intelligence have moved beyond the “initial” phase and entered “full-scale commercialisation”, the Chinese e-commerce and cloud computing giant says in a shareholder letter as it doubles down on AI as its next major growth engine. “We expect the addressable market for companies like Alibaba that provide full-stack AI capabilities is poised to grow exponentially,” chairman Joe Tsai and CEO Eddie Wu Yongming said in a joint shareholder letter... https://www.scmp.com/tech/big-tech/article/3354324/alibaba-signals-next-phase-ai-growth-investment-commercialisation?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3354324/alibaba-signals-next-phase-ai-growth-investment-commercialisation?utm_source=rss_feed Thu, 21 May 2026 06:00:41 +0000 Themis Qi Themis Qi Tesla has announced the widely anticipated roll-out of its Full Self-Driving (FSD) system in China, just one week after company founder and CEO Elon Musk travelled to Beijing as part of a state visit by US President Donald Trump. The arrival of the system will raise the self-driving game in a market where level three (L3) automated driving has been legalised. “FSD Supervised” was now available in China and nine other countries including the US, Canada, Mexico, Australia, New Zealand, South Korea... https://www.scmp.com/business/china-evs/article/3354305/teslas-fsd-launch-china-heats-competition-domestic-ev-makers?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3354305/teslas-fsd-launch-china-heats-competition-domestic-ev-makers?utm_source=rss_feed Thu, 21 May 2026 02:42:59 +0000 Daniel Ren,Ann Cao Daniel Ren,Ann Cao Chery Automobile, China’s largest car exporter by deliveries, expects its overseas sales of electric vehicles (EVs) to jump as much as 27 per cent this year, as a global energy crisis spurs demand for battery-powered vehicles. Zhang Guibing, the president of Chery International, said on Wednesday that pure electric and plug-in hybrid models were projected to represent as much as 70 per cent of the carmaker’s total deliveries outside the mainland in 2026. That would equate to roughly 1.05 million... https://www.scmp.com/business/china-business/article/3354280/chinas-chery-sees-its-foreign-ev-sales-topping-1-million-world-wary-energy-crisis?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3354280/chinas-chery-sees-its-foreign-ev-sales-topping-1-million-world-wary-energy-crisis?utm_source=rss_feed Wed, 20 May 2026 23:00:11 +0000 Julie Zhang Julie Zhang Private equity activity is picking up in China, with limited partners growing more selective about opportunities in technology, including chips, manufacturing, artificial intelligence and robotics, according to industry players. “In the last 12 to 18 months … we are seeing a lot more [private equity fundraising activities], but I would say it’s very selective” compared with the previous cycle, said Gary Chan, head of private equity of Sun Hung Kai & Co, at a panel discussion at the Asia Private... https://www.scmp.com/business/banking-finance/article/3354255/chinas-private-equity-activity-picks-investors-focus-tech-and-ai-opportunities?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3354255/chinas-private-equity-activity-picks-investors-focus-tech-and-ai-opportunities?utm_source=rss_feed Wed, 20 May 2026 10:12:37 +0000 Themis Qi Themis Qi Shares of Chinese aviation and aerospace parts supplier Shanghai Top Numerical Control Technology ended 80 per cent higher on its debut in Hong Kong on Wednesday, as investors continue to bet on the commercial aerospace sector. Top Numerical Control opened at HK$37 per share on its first day of trading, representing a 40.2 per cent premium to the offer price of HK$26.39. It reached as high as HK$48.40 in afternoon trade, before closing at HK$47.50. The Shanghai-based company issued 65.33 million... https://www.scmp.com/business/investor-relations/ipo-quote-profile/article/3354227/chinas-top-numerical-control-rides-investor-fervour-aerospace-80-ipo-gain?utm_source=rss_feed https://www.scmp.com/business/investor-relations/ipo-quote-profile/article/3354227/chinas-top-numerical-control-rides-investor-fervour-aerospace-80-ipo-gain?utm_source=rss_feed Wed, 20 May 2026 08:34:29 +0000 Daniel Ren,Ann Cao Daniel Ren,Ann Cao Chinese electric vehicle maker Nio has staked out a contrasting position on pricing to its domestic rival, Li Auto, with a top executive suggesting that carmakers must prioritise profitability as material costs climb. Nio senior vice-president Ji Huaqiang, in charge of manufacturing, logistics and operations, told reporters on Tuesday that perennially operating at a loss would be detrimental for any carmaker, even in the pursuit of market share. “The recent spike in raw material prices has had a... https://www.scmp.com/business/china-business/article/3354140/nio-slams-ev-price-wars-china-costs-surge-defying-cuts-rival-li-auto?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3354140/nio-slams-ev-price-wars-china-costs-surge-defying-cuts-rival-li-auto?utm_source=rss_feed Tue, 19 May 2026 23:00:06 +0000 Minxiao Chang,Wency Chen,Eunice Xu Minxiao Chang,Wency Chen,Eunice Xu A recent meeting between Chinese Vice-Premier He Lifeng and Advanced Micro Devices (AMD) CEO Lisa Su signals a potential loosening of US chip export policies, which could reopen high-end semiconductor sales, including artificial intelligence chips, to select Chinese firms, according to analysts. During their meeting on Monday, He reiterated that Beijing welcomed continued foreign investment, according to Xinhua News Agency. Su praised the outcomes of last week’s summit between President Xi... https://www.scmp.com/tech/tech-war/article/3354097/amd-ceos-meeting-chinas-vice-premier-raises-optimism-about-us-ai-chip-imports?utm_source=rss_feed https://www.scmp.com/tech/tech-war/article/3354097/amd-ceos-meeting-chinas-vice-premier-raises-optimism-about-us-ai-chip-imports?utm_source=rss_feed Tue, 19 May 2026 11:30:04 +0000 Julie Zhang Julie Zhang Fuelled by excessive spending on artificial intelligence-linked commodities and computing capacity, AI infrastructure investment has become a global bubble that is unlikely to burst in 2026 or 2027, according to Viktor Shvets, head of global and Asia-Pacific strategy at Macquarie Group. “There are many parts of AI … from the underlying technologies to infrastructure – the things that are going to run on the back of the infrastructure of models; automation, quantum computing, biotech, gene... https://www.scmp.com/business/banking-finance/article/3354118/ai-infrastructure-investment-bubble-unlikely-burst-2027-macquarie?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3354118/ai-infrastructure-investment-bubble-unlikely-burst-2027-macquarie?utm_source=rss_feed Tue, 19 May 2026 11:00:04 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong construction and engineering company Able Engineering has secured a residential site in Tung Chung for a higher-than-expected HK$1.627 billion (US$207 million) premium, outbidding five groups of major developers in the city. Able Best, a construction and private development unit of Able Engineering, secured a 50-year land grant for the 152,332 sq ft plot, according to a statement from the Lands Department on Tuesday. The winning bid topped analysts’ estimates, which ranged between... https://www.scmp.com/business/article/3354122/non-traditional-hong-kong-bidder-tops-property-giants-tung-chung-hk16b-land-auction?utm_source=rss_feed https://www.scmp.com/business/article/3354122/non-traditional-hong-kong-bidder-tops-property-giants-tung-chung-hk16b-land-auction?utm_source=rss_feed Tue, 19 May 2026 10:54:45 +0000 Vincent Chow Vincent Chow Chinese artificial intelligence heavyweight DeepSeek has recruited a former Jane Street star engineer to its new AI “harness” team, as it looks to ensure it does not fall behind in the agentic AI era. Cui Tianyi joined the Hangzhou start-up in March, according to a post on his LinkedIn profile on Tuesday, after four years at Hong Kong-based quantitative trading firm TSY Capital, which he co-founded in 2022. The engineer previously spent nearly nine years as a software developer and researcher at... https://www.scmp.com/tech/big-tech/article/3354113/deepseek-recruits-former-jane-street-engineer-catch-ai-agents-revenue-race?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3354113/deepseek-recruits-former-jane-street-engineer-catch-ai-agents-revenue-race?utm_source=rss_feed Tue, 19 May 2026 10:30:28 +0000 Themis Qi Themis Qi China’s Ganfeng Lithium, a global giant of the lithium industry, says its orders have been booked through the first half of 2027 amid a surge in demand for energy storage systems (ESS) and a frenzy of investment in artificial intelligence data centres (AIDCs). “Our production capacity for the year is fully booked,” said Wang Xiaoshen, president and vice-chairman at the world’s largest metal lithium producer and lithium compounds supplier. Ganfeng also manufactures lithium-ion batteries. “The... https://www.scmp.com/business/climate-and-energy/article/3354068/chinas-ganfeng-secures-orders-amid-surge-demand-global-energy-storage-ai-boom?utm_source=rss_feed https://www.scmp.com/business/climate-and-energy/article/3354068/chinas-ganfeng-secures-orders-amid-surge-demand-global-energy-storage-ai-boom?utm_source=rss_feed Tue, 19 May 2026 09:00:11 +0000 Enoch Yiu Enoch Yiu Standard Chartered has raised its 2030 earnings target to 18 per cent by expanding wealth, cross-border banking and digital businesses, with Hong Kong at the centre of its growth story, according to global CEO Bill Winters. Investors welcomed the plan, sending the bank’s shares up as much as 4.4 per cent to HK$205.20 in early afternoon trade on Tuesday, before closing 2.3 per cent higher at HK$201.20. The stock outperformed the benchmark Hang Seng Index, which rose 0.5 per cent. The... https://www.scmp.com/business/banking-finance/article/3354063/standard-chartered-lifts-2030-earnings-target-18-hong-kong-core-ceo-winters?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3354063/standard-chartered-lifts-2030-earnings-target-18-hong-kong-core-ceo-winters?utm_source=rss_feed Tue, 19 May 2026 06:08:20 +0000 Daniel Ren Daniel Ren Chinese electric vehicle (EV) maker Xpeng has begun mass production of autonomous cabs powered by its own chips, likely to mount yet another challenge on Tesla as both companies pursue a leading position in self-driving. Robotaxis have become the latest area where the two firms could go head-to-head, after smart EVs and humanoid robots, as the booming development of physical artificial intelligence technologies intensifies. Guangzhou-based Xpeng said its robotaxis would have level 4 (L4)... https://www.scmp.com/business/china-evs/article/3354034/chinese-firm-xpeng-builds-driverless-cabs-likely-challenge-teslas-fsd-software-ai-race?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3354034/chinese-firm-xpeng-builds-driverless-cabs-likely-challenge-teslas-fsd-software-ai-race?utm_source=rss_feed Tue, 19 May 2026 02:08:20 +0000 Daniel Ren Daniel Ren The financial and commercial hub of mainland China is pinning its economic hopes on emerging industries such as autonomous driving and solid-state electric vehicle (EV) batteries to sustain growth following a robust start to 2026. Shanghai Mayor Gong Zheng said the city remained confident about achieving a 5 per cent economic expansion this year, buoyed by a strategy to attract foreign businesses and bolster local tech innovations. “We will double efforts to enlarge investment in key projects,... https://www.scmp.com/economy/china-economy/article/3353992/chinas-old-motown-shanghai-bets-robotaxis-better-batteries-gdp-bump?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3353992/chinas-old-motown-shanghai-bets-robotaxis-better-batteries-gdp-bump?utm_source=rss_feed Mon, 18 May 2026 23:30:05 +0000 Themis Qi Themis Qi The global energy crisis may be pushing the balance towards pure electric vehicles (EVs) amid worries about surging petrol bills, but BNP Paribas is cooling down expectations as a lack of charging infrastructure and high insurance costs remain major stumbling blocks. The forecast could dampen investor enthusiasm for Chinese makers of battery EVs, which had surged in the past two months on the back of rising exports. “The infrastructure readiness is not necessarily there” in many countries, said... https://www.scmp.com/business/china-evs/article/3353991/global-growth-evs-faces-hurdles-insurance-charging-gaps-says-bnp-paribas?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3353991/global-growth-evs-faces-hurdles-insurance-charging-gaps-says-bnp-paribas?utm_source=rss_feed Mon, 18 May 2026 11:13:08 +0000 Peggy Ye Peggy Ye The liquidators of China Evergrande Group are seeking 57 billion yuan (US$8.4 billion) from three PricewaterhouseCoopers (PwC) entities in one of the largest corporate lawsuit claims in Hong Kong, arguing the firm’s global coordinating arm assumed responsibility for audits linked to the collapsed developer’s accounting scandal. Evergrande’s liquidators, Tiffany Wong and Eddie Middleton of Alvarez & Marsal, were pursuing the claim against PwC International, PwC Hong Kong and PwC China jointly,... https://www.scmp.com/business/article/3353983/evergrande-liquidators-seek-us84-billion-pwc-entities-hong-kong-lawsuit?utm_source=rss_feed https://www.scmp.com/business/article/3353983/evergrande-liquidators-seek-us84-billion-pwc-entities-hong-kong-lawsuit?utm_source=rss_feed Mon, 18 May 2026 10:03:29 +0000 Wency Chen Wency Chen China is stepping up construction of a “national computing network”, aiming to turn artificial intelligence infrastructure into a public utility as token usage surges and telecoms operators seek new growth engines beyond mobile data and phone bills. The push was highlighted by national broadcaster China Central Television and state-backed Xinhua news agency, which described the network as a “computing version of the state grid”. The reports likened tokens – the basic units of text, code and... https://www.scmp.com/tech/big-tech/article/3353891/china-ramps-building-national-computing-power-network-ai-token-demand-surges?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3353891/china-ramps-building-national-computing-power-network-ai-token-demand-surges?utm_source=rss_feed Sun, 17 May 2026 12:30:10 +0000 Enoch Yiu Enoch Yiu The liquidators of China Evergrande Group’s lawsuit against PricewaterhouseCoopers (PwC) International will have their case heard in the Hong Kong High Court on Monday, according to records posted on the judiciary’s website. The one-day hearing was scheduled before Deputy Judge Patrick Fung Pak-tung of the High Court and would be open to the public, the court information showed. It concerns efforts by Evergrande’s liquidators to seek claims from PwC International over the developer’s auditing... https://www.scmp.com/business/banking-finance/article/3353860/hong-kong-high-court-hear-evergrande-liquidators-lawsuit-against-pwc-monday?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3353860/hong-kong-high-court-hear-evergrande-liquidators-lawsuit-against-pwc-monday?utm_source=rss_feed Sun, 17 May 2026 11:00:05 +0000 Themis Qi Themis Qi ClearVue Technologies, an Australian solar technology company, will set up a joint venture with a Chinese partner in Hong Kong to produce power-generating glass for building facades, a concept seen as timely given rising energy prices amid geopolitical tensions. The Australian Securities Exchange-listed firm aims to take advantage of the manufacturing prowess of mainland China to provide “affordable” glass for commercial buildings via the joint venture with vacuum-glass maker LandVac, said Doug... https://www.scmp.com/business/climate-and-energy/article/3353712/every-window-solar-panel-australia-china-joint-venture-set-hong-kong?utm_source=rss_feed https://www.scmp.com/business/climate-and-energy/article/3353712/every-window-solar-panel-australia-china-joint-venture-set-hong-kong?utm_source=rss_feed Sun, 17 May 2026 03:30:07 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s retail property market is gradually building momentum as spending and confidence of consumers and tourists return, according to analysts. Unlike the city’s past peak rental levels, however, this time the tenant mix was more diversified, with retailers offering unique experiences and products that enhanced their appeal to shoppers, they said. “We see structural shifts towards more experience-driven and diversified tenant mixes, rather than a full return to past peak rental levels,”... https://www.scmp.com/business/article/3353716/fresh-concepts-lift-hong-kong-retail-property-tourists-and-consumers-return?utm_source=rss_feed https://www.scmp.com/business/article/3353716/fresh-concepts-lift-hong-kong-retail-property-tourists-and-consumers-return?utm_source=rss_feed Sun, 17 May 2026 02:00:08 +0000 Daniel Ren,Cheryl Arcibal Daniel Ren,Cheryl Arcibal Hundreds of prospective buyers gravitated to a Sun Hung Kai Properties’ (SHKP’s) project in the New Territories on Saturday, keen to view the 121 flats on offer in a fresh sign that Hong Kong’s home market is on a sustained upwards cycle despite risk caution. By 5.30pm, all of the homes at Lime Spark in Tsuen Wan had found buyers, while some bullish investors offered to buy more than one unit, according to property agents. “Despite a 2 to 3 per cent price increase, the next round [of 121 units]... https://www.scmp.com/business/china-business/article/3353813/buyers-flock-shkp-project-new-territories-confidence-grows-home-market-outlook?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3353813/buyers-flock-shkp-project-new-territories-confidence-grows-home-market-outlook?utm_source=rss_feed Sat, 16 May 2026 08:49:58 +0000 Daniel Ren Daniel Ren Peugeot and Jeep, owned by French-Italian automotive group Stellantis, have committed to fresh investments to build electric cars with its partner Dongfeng Motor, as more international marques join the fight against Chinese rivals in the world’s largest car market. Stellantis announced on Friday that four electric vehicles (EVs) under the two storied auto brands would roll off the production lines in 2027 as the European carmaker leverages Chinese technologies to assemble best-class cars for the... https://www.scmp.com/business/china-business/article/3353767/peugeot-jeep-take-chinese-rivals-new-models-using-local-ev-technologies?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3353767/peugeot-jeep-take-chinese-rivals-new-models-using-local-ev-technologies?utm_source=rss_feed Fri, 15 May 2026 14:20:02 +0000 Cheryl Arcibal Cheryl Arcibal The Hong Kong government’s first land sale in the current financial year has drawn six bids, according to the Development Bureau, including those from the city’s largest developers, suggesting a more confident outlook for the residential property market. At the close of tender for Tung Chung Town Lot No 54 at Area 106A on Friday noon, Sun Hung Kai Properties (SHKP) submitted a solo bid, while Kerry Properties and Sino Land submitted a joint offer, the groups separately confirmed to the South... https://www.scmp.com/business/article/3353737/6-bids-hong-kong-land-sale-signal-renewed-confidence-despite-market-caution?utm_source=rss_feed https://www.scmp.com/business/article/3353737/6-bids-hong-kong-land-sale-signal-renewed-confidence-despite-market-caution?utm_source=rss_feed Fri, 15 May 2026 12:00:06 +0000 Daniel Ren Daniel Ren Chinese electric vehicle (EV) makers, from BYD to Leapmotor, are voraciously seeking out manufacturing assets in Europe as the global energy crisis creates surging demand for battery-powered vehicles. Their pursuit of idled European assembly facilities owned by big names like Stellantis and Volkswagen is disrupting the pecking order in the global automotive industry, as the Chinese carmakers’ design and manufacturing heft sees them morph into international players. “China’s EV assemblers are... https://www.scmp.com/business/china-business/article/3353722/chinese-ev-makers-hunt-idled-plants-europe-they-expand-global-influence?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3353722/chinese-ev-makers-hunt-idled-plants-europe-they-expand-global-influence?utm_source=rss_feed Fri, 15 May 2026 09:50:14 +0000 Zhu Wenqian Zhu Wenqian Several major US-listed global hotel chains reported strong performance in China in the first quarter, driven by robust business and leisure demand, with momentum expected to continue through the year. As US President Donald Trump makes a state visit to Beijing this week, international arrivals to China also jumped in the first quarter, fuelled by the country’s expanded visa-free entry policies for more countries. Four international hotel groups – Hilton Worldwide Holdings, InterContinental... https://www.scmp.com/business/china-business/article/3353590/chinas-hotel-sector-shines-poised-outperform-through-2026-strong-travel-demand?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3353590/chinas-hotel-sector-shines-poised-outperform-through-2026-strong-travel-demand?utm_source=rss_feed Fri, 15 May 2026 00:30:05 +0000 Themis Qi,Daniel Ren Themis Qi,Daniel Ren A Ford Motor electric vehicle (EV) battery plant in the US state of Michigan, edging closer to inauguration, has shed light on global marques’ reliance on Chinese technologies to accelerate their EV transition amid US President Donald Trump’s state visit to Beijing. With trade and investment among the top issues on the agenda for the summit between Trump and President Xi Jinping, the US$3 billion facility, with a capacity of more than 400,000 EVs a year, has heightened expectations for similar... https://www.scmp.com/business/china-business/article/3353539/xi-trump-summit-ford-catl-battery-plant-shows-how-global-carmakers-need-chinas-prowess?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3353539/xi-trump-summit-ford-catl-battery-plant-shows-how-global-carmakers-need-chinas-prowess?utm_source=rss_feed Thu, 14 May 2026 12:00:12 +0000 Peggy Ye Peggy Ye Chow Tai Fook Enterprises, the private investment vehicle of Hong Kong property tycoon Henry Cheng Kar-shun’s family, and related parties, has acquired a Taikoo Shing school campus from Swire Properties in a deal estimated at about HK$400 million (US$51 million), which analysts described as a bet on long-term demand for international schools in the city. The deal – nearly doubling the property’s valuation from an internal transfer in late 2023 at HK$213 million – marks a change from leasing to... https://www.scmp.com/business/article/3353582/chow-tai-fook-turns-tenant-owner-us51-million-hong-kong-school-property-deal?utm_source=rss_feed https://www.scmp.com/business/article/3353582/chow-tai-fook-turns-tenant-owner-us51-million-hong-kong-school-property-deal?utm_source=rss_feed Thu, 14 May 2026 11:00:09 +0000 Zhang Shidong Zhang Shidong Shares of New World Development (NWD) – the beleaguered property developer owned by one of Hong Kong’s richest families – fell on Thursday, after the firm acknowledged it had made no progress on plans to dispose of a mega shopping centre project and introduce new investors. The stock tumbled by as much as 4.7 per cent in Hong Kong, before paring some of the losses to close 4.3 per cent lower at HK$8.95. The Hang Seng Index remained largely unchanged for the day. NWD was still in talks with Hong... https://www.scmp.com/business/china-business/article/3353565/cheng-familys-nwd-slumps-after-admitting-11-skies-new-investor-plans-stalled?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3353565/cheng-familys-nwd-slumps-after-admitting-11-skies-new-investor-plans-stalled?utm_source=rss_feed Thu, 14 May 2026 09:10:53 +0000 Themis Qi Themis Qi Surging oil prices are prompting Chinese buyers to shift to battery electric vehicles (BEVs), which dominated April sales rankings by taking nine out of the top 10 spots – a new high in China’s electrification drive. Only one petrol car model was among the bestsellers across all power trains, with Geely’s Binyue in eighth place on sales of 14,923 units, according to data from automotive platform Dongchedi. The rest were BEVs, which produce zero tailpipe emissions. It marked a sharp retreat in... https://www.scmp.com/business/china-evs/article/3353525/geely-xiaomi-lead-pack-battery-evs-top-china-sales-rising-oil-costs?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3353525/geely-xiaomi-lead-pack-battery-evs-top-china-sales-rising-oil-costs?utm_source=rss_feed Thu, 14 May 2026 07:30:05 +0000 Coco Feng Coco Feng Shares of Alibaba Group Holding opened up 7.8 per cent in Hong Kong, after the firm reported strong growth from its artificial intelligence products and ramped up its commitment to the technology. The Chinese tech giant also saw its New York-listed shares surge 8.2 per cent on Wednesday, closing at US$145.81, after it confirmed that revenues from AI-related products had hit 8.97 billion yuan (US$1.3 billion) in the first quarter. The company said the segment had now registered triple-digit... https://www.scmp.com/tech/big-tech/article/3353487/alibaba-shares-surge-8-new-york-firm-accelerates-pivot-ai?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3353487/alibaba-shares-surge-8-new-york-firm-accelerates-pivot-ai?utm_source=rss_feed Thu, 14 May 2026 01:19:53 +0000 Ann Cao Ann Cao Alibaba Group Holding expects its annualised recurring revenue from AI models and applications to hit 30 billion yuan (US$4.42 billion) by the year’s end, as the company ramps up its AI commitment. AI products are projected to generate more than 50 per cent of Alibaba’s cloud-computing revenue within the next year, as the tech giant looks to step up its AI monetisation efforts. Alibaba CEO Eddie Wu Yongming said the company was likely to “overshoot” the original capital-expenditure target of 380... https://www.scmp.com/tech/big-tech/article/3353451/alibaba-ai-revenue-logs-triple-digit-growth-11th-quarter-amid-strategic-reshuffle?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3353451/alibaba-ai-revenue-logs-triple-digit-growth-11th-quarter-amid-strategic-reshuffle?utm_source=rss_feed Wed, 13 May 2026 10:57:52 +0000 Daniel Ren Daniel Ren Tesla China has launched a new financing scheme to attract more budget-conscious buyers after its sales in the world’s largest electric vehicle (EV) market fell behind its domestic rivals. The US carmaker said on Wednesday that the down payment for a Shanghai-made Model 3 vehicle – priced at 235,500 yuan (US$34,672) – would be slashed to 55,900 yuan from 79,900 yuan if the buyer chose a five-year car loan offered by Tesla. “Our strong products, combined with attractive incentives for car... https://www.scmp.com/business/china-business/article/3353446/tesla-lures-budget-conscious-chinese-buyers-cheap-loans-ahead-state-visit-trump?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3353446/tesla-lures-budget-conscious-chinese-buyers-cheap-loans-ahead-state-visit-trump?utm_source=rss_feed Wed, 13 May 2026 10:44:52 +0000 Iris Deng Iris Deng Facing scrutiny and persistent questions over its track record in artificial intelligence, Tencent Holdings’ co-founder and CEO Pony Ma Huateng offered this candid assessment to shareholders on Wednesday: “A year ago we thought we were on the boat, then we found it was leaking.” Speaking at the firm’s annual general meeting at the Four Seasons Hotel in Hong Kong, Ma signalled the beginnings of a turnaround, saying that the company had finally found its footing but was “not yet seated”, according... https://www.scmp.com/tech/article/3353445/tencents-misses-first-quarter-revenue-estimates-bets-ai-new-growth?utm_source=rss_feed https://www.scmp.com/tech/article/3353445/tencents-misses-first-quarter-revenue-estimates-bets-ai-new-growth?utm_source=rss_feed Wed, 13 May 2026 10:38:25 +0000 Cheryl Arcibal Cheryl Arcibal Henderson Land Development secured the first biodiversity loan in Hong Kong, receiving around HK$100 million (US$12.8 million) from HSBC and Hang Seng Bank for green initiatives at Central Yards, the company’s flagship mixed-use development on the New Central Harbourfront. This loan would provide a “scalable blueprint” for companies to achieve their sustainability goals and enhance Hong Kong’s position as a leading international sustainable finance centre, according to the two banks. The... https://www.scmp.com/business/article/3353428/hong-kongs-first-biodiversity-loan-goes-henderson-land-central-yards-green-spaces?utm_source=rss_feed https://www.scmp.com/business/article/3353428/hong-kongs-first-biodiversity-loan-goes-henderson-land-central-yards-green-spaces?utm_source=rss_feed Wed, 13 May 2026 09:30:05 +0000 Wency Chen Wency Chen ByteDance’s Volcano Engine, the cloud unit that released an OpenClaw-based cloud agent tool ArkClaw, is betting that the next phase of artificial intelligence will hinge on cheaper tokens, higher inference efficiency and longer context windows. “Agent-related token consumption still accounts for a single-digit percentage of total token usage, but it is growing,” said Li Guodong, chief architect of ArkClaw, on Tuesday on the sidelines of OpenClaw’s first mainland China event since the open-source... https://www.scmp.com/tech/tech-trends/article/3353310/how-bytedance-plans-turn-openclaw-craze-profitable-ai-business?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3353310/how-bytedance-plans-turn-openclaw-craze-profitable-ai-business?utm_source=rss_feed Wed, 13 May 2026 02:00:05 +0000 Julie Zhang Julie Zhang Shares of METiS TechBio surged 173 per cent on their Hong Kong debut on Wednesday as the AI-driven drug design start-up’s initial public offering drew strong demand from investors amid buoyant sentiment for AI-related stocks in the city. Its stocks traded at HK$28.68 at the open, climbing as high as HK$29.6 in the morning trading session before retreating to HK$23.8 at the close, up 126.67 per cent from the offering price. Co-founder and CEO of METiS TechBio, Lai Tsai-Ta, who obtained a PhD from... https://www.scmp.com/business/banking-finance/article/3353341/hong-kong-biotech-firm-uses-ai-produce-nano-rockets-deliver-life-saving-drugs?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3353341/hong-kong-biotech-firm-uses-ai-produce-nano-rockets-deliver-life-saving-drugs?utm_source=rss_feed Wed, 13 May 2026 01:30:13 +0000 Zhu Wenqian Zhu Wenqian Chinese toymaker Pop Mart said its overseas business grew rapidly in the first quarter compared with a year earlier, but warned that “inadequate customer accumulation” led to a noticeable decline in quarter-on-quarter sales outside China, raising concerns about sustainable growth in future. The Hong Kong-listed company, developer of the hit Labubu character, said first-quarter revenue surged 75 to 80 per cent year on year, but its core challenge was to expand its fan base offshore. “We hope to... https://www.scmp.com/business/china-business/article/3353323/pop-mart-expands-ip-empire-debut-dessert-store-hebei-province?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3353323/pop-mart-expands-ip-empire-debut-dessert-store-hebei-province?utm_source=rss_feed Tue, 12 May 2026 23:00:05 +0000 Julie Zhang Julie Zhang Jiangsu Hengrui Pharmaceutical, China’s largest drug company by market capitalisation, has signed a global collaboration and licensing agreement with US pharmaceutical giant Bristol Myers Squibb (BMS) worth up to US$15.2 billion. Hengrui’s Hong Kong-traded shares climbed 5.3 per cent to HK$69.55 on Tuesday, while its Shenzhen stock rose 4.84 per cent to 56.11 yuan. The deal adds credibility to China’s growing reputation for innovative drug development. Industry players, however, said the country... https://www.scmp.com/business/china-business/article/3353263/chinas-hengrui-seals-us152-billion-deal-us-pharmaceutical-giant-bms?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3353263/chinas-hengrui-seals-us152-billion-deal-us-pharmaceutical-giant-bms?utm_source=rss_feed Tue, 12 May 2026 10:00:19 +0000 Ann Cao Ann Cao The founder of China’s largest contract chipmaker has urged the country’s semiconductor industry to pursue breakthroughs in niche markets such as mature chips, citing their importance for “supply chain security”. Richard Chang Rugin, 78, former CEO of Semiconductor Manufacturing International Corp (SMIC), cautioned against blindly chasing industry hype around cutting-edge process nodes. The industry veteran stressed the value of investing in mature nodes and specialty processes, which accounted... https://www.scmp.com/tech/big-tech/article/3353188/chinese-chip-pioneer-calls-focus-pragmatic-breakthroughs-over-chasing-2nm-hype?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3353188/chinese-chip-pioneer-calls-focus-pragmatic-breakthroughs-over-chasing-2nm-hype?utm_source=rss_feed Mon, 11 May 2026 23:30:06 +0000 Peggy Ye Peggy Ye CK Hutchison Holdings’ shares climbed to their highest level since 2020 after the conglomerate announced plans to exit the UK mobile market, signalling that investors believe the Li family may once again have timed an industry peak before the broader market. Shares rose about 12 per cent to HK$73.30 on Monday from the May 5 close, after the company said it would sell its 49 per cent stake in VodafoneThree for US$5.8 billion. CK Hutchison said the disposal was expected to generate a gain of about... https://www.scmp.com/business/banking-finance/article/3353185/art-deal-uk-telecoms-exit-fits-li-familys-trademark-timing-selling-top?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3353185/art-deal-uk-telecoms-exit-fits-li-familys-trademark-timing-selling-top?utm_source=rss_feed Mon, 11 May 2026 23:00:13 +0000 Zhu Wenqian Zhu Wenqian China’s bond market is facing rising re-defaults, driven by continued stress in the housing market, where years of government loosening and stimulus have yet to bring relief, according to a report by S&P Global Ratings on Monday. Since 2020, amid the crisis triggered by the default of China Evergrande Group – the world’s most indebted property developer – about 40 per cent of restructured onshore bonds have suffered re-defaults, the report said. The turmoil was later compounded by Country... https://www.scmp.com/business/article/3353172/chinas-bond-market-faces-climbing-re-defaults-property-crisis-drags?utm_source=rss_feed https://www.scmp.com/business/article/3353172/chinas-bond-market-faces-climbing-re-defaults-property-crisis-drags?utm_source=rss_feed Mon, 11 May 2026 12:30:15 +0000 Iris Deng Iris Deng Huawei Technologies’ little-known chip research lab has been thrust into the national spotlight as Beijing flexes its technology muscles ahead of US President Donald Trump’s visit to China later this week. The Chip Fundamental Technology Research Laboratory was featured for the first time on national television on Friday, when Huawei founder and CEO Ren Zhengfei hosted Vice-Premier Ding Xuexiang at the firm’s Lianqiu Lake campus in Shanghai, according to footage aired on China Central... https://www.scmp.com/tech/policy/article/3353161/huaweis-secretive-chip-lab-featured-prime-time-tv-ahead-trumps-trip-china?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3353161/huaweis-secretive-chip-lab-featured-prime-time-tv-ahead-trumps-trip-china?utm_source=rss_feed Mon, 11 May 2026 12:30:10 +0000 Daniel Ren Daniel Ren The pace of electrification on western Europe’s roads is likely to fire up sales of Chinese-developed smart cars, where they could command a 20 per cent share of the regional market in 2028 at the expense of local peers, according to a JPMorgan forecast. Chinese carmakers from BYD, the world’s largest electric vehicle (EV) builder, to Stallentis-backed Leapmotor, were expected to deliver 2.5 million cars to customers in countries like Germany, Italy, France and the United Kingdom in 2028, a... https://www.scmp.com/business/china-business/article/3353170/chinese-smart-cars-set-control-20-western-european-market-2028-jpmorgan?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3353170/chinese-smart-cars-set-control-20-western-european-market-2028-jpmorgan?utm_source=rss_feed Mon, 11 May 2026 11:56:52 +0000 Themis Qi Themis Qi Six-seat premium electric sport utility vehicles (SUVs) are emerging as an unlikely game changer in China’s automotive market, with more than a dozen new locally developed models set to challenge German luxury brands this year. The spacious vehicles, increasingly popular among wealthy families in mainland China, could drive a rebound in the world’s largest car and electric vehicle (EV) market as they combined Chinese EVs’ technological edge with competitive pricing, according to Morgan... https://www.scmp.com/business/china-evs/article/3353028/chinese-6-seat-electric-suvs-stand-out-amid-weak-domestic-sales-says-morgan-stanley?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3353028/chinese-6-seat-electric-suvs-stand-out-amid-weak-domestic-sales-says-morgan-stanley?utm_source=rss_feed Sun, 10 May 2026 23:00:10 +0000 Ben Jiang Ben Jiang Chinese e-commerce giant Alibaba Group Holding is preparing an overhaul of how local consumers shop online, betting that the next trend will feel more like chatting with an artificial intelligence chatbot rather than typing keywords into a search bar, according to a source. Users of the company’s flagship AI assistant Qwen – one of the most popular in China – would soon be able to use natural language to “talk” with the chatbot app to find and buy items listed on Alibaba’s Taobao and Tmall... https://www.scmp.com/tech/tech-trends/article/3353044/alibaba-brings-chat-style-shopping-taobao-and-qwen-amid-ai-gateway-push?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3353044/alibaba-brings-chat-style-shopping-taobao-and-qwen-amid-ai-gateway-push?utm_source=rss_feed Sun, 10 May 2026 10:35:23 +0000 Zhu Wenqian Zhu Wenqian Global fast-food chain KFC is adding more electric vehicle (EV) charging stations and McDonald’s is upgrading digital services, as the fast-food sector turns to digital convenience to draw more customers to drive-through stores amid fierce competition, according to analysts. KFC now operates over 7,000 drive-through restaurants nationwide, including kerbside pickups, according to the first-quarter earnings report of Yum China, operator of KFC and Pizza Hut in mainland China and Hong Kong. The... https://www.scmp.com/business/china-business/article/3352994/kfc-mcdonalds-drive-throughs-china-get-ev-charging-upgraded-smart-systems?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3352994/kfc-mcdonalds-drive-throughs-china-get-ev-charging-upgraded-smart-systems?utm_source=rss_feed Sun, 10 May 2026 04:30:07 +0000 Cheryl Arcibal Cheryl Arcibal Hong Kong’s West Kowloon is poised to emerge as the second-most important office sub-market after Central with the completion of new buildings that will accommodate banks and insurance companies, according to industry officials. However, there was expected to be limited demand from newcomers or via corporate expansion, with leasing activity dominated by relocations and higher vacancy rates in some of the city’s other business districts. The 40-hectare stretch of reclaimed land is being touted as... https://www.scmp.com/business/article/3352926/hong-kongs-cultural-hub-west-kowloon-emerging-central-20?utm_source=rss_feed https://www.scmp.com/business/article/3352926/hong-kongs-cultural-hub-west-kowloon-emerging-central-20?utm_source=rss_feed Sun, 10 May 2026 01:30:09 +0000 Daniel Ren,Cheryl Arcibal Daniel Ren,Cheryl Arcibal Hong Kong homebuyers snapped up new flats on offer on Saturday, fuelling optimism that the bull run in the city’s property market will continue. All 154 units at Sun Hung Kai Properties’ Lime Spark project sold out as of 4.30pm, while 147 homes, or 93 per cent of the 158 flats available at Henderson Land’s Highwood Phase 2 project, found buyers, according to real property agents. “Home prices have climbed by nearly 8 per cent this year, and prospective buyers are likely to find that a delay in... https://www.scmp.com/business/china-business/article/3352997/hong-kong-home-market-maintains-upwards-momentum-eager-buyers-snap-new-flats?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3352997/hong-kong-home-market-maintains-upwards-momentum-eager-buyers-snap-new-flats?utm_source=rss_feed Sat, 09 May 2026 11:13:54 +0000 Daniel Ren Daniel Ren Leapmotor, one of China’s strongest-performing electric vehicle (EV) makers this year, has taken a major step towards building cars locally for European customers after agreeing with shareholder Stellantis to add a line at a Spanish plant previously earmarked for Opel. The Hangzhou-based company and Stellantis, owner of Peugeot, Fiat and Jeep, would jointly build Opel’s new fully electric C-sport utility vehicles (SUVs) and B10 models at the Figueruelas plant in Zaragoza, according to a... https://www.scmp.com/business/china-business/article/3352948/chinese-ev-maker-leapmotor-taps-stellantis-spanish-plant-eu-production?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3352948/chinese-ev-maker-leapmotor-taps-stellantis-spanish-plant-eu-production?utm_source=rss_feed Fri, 08 May 2026 13:40:59 +0000