https://www.scmp.com/rss/520073/feed Cao Li has been working as a journalist focusing on China for two decades, covering a wide range of topics from politics, society and business. She previously worked at the Wall Street Journal and the New York Times in Beijing and Hong Kong. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Cao Li Cao Li Hong Kong stocks dropped on Monday as escalating tensions in the Middle East sent oil prices to recent highs. Over the weekend, Yemen’s Iran-backed Houthi rebels launched attacks directly on Israel, which intensified strikes on Tehran. The US has also deployed additional military forces to the Middle East. The escalation pushed up oil prices, with Brent crude jumping as much as 3.7 per cent to US$116.80 a barrel, its highest in more than a week, while West Texas Intermediate rose to US$101 a... https://www.scmp.com/business/article/3348360/hong-kong-stocks-fall-asia-iran-conflict-drives-oil-prices-higher?utm_source=rss_feed https://www.scmp.com/business/article/3348360/hong-kong-stocks-fall-asia-iran-conflict-drives-oil-prices-higher?utm_source=rss_feed Mon, 30 Mar 2026 06:10:13 +0000 Peggy Ye,Cao Li Peggy Ye,Cao Li Buyers snapped up most of the nearly 400 new homes released for sale in Hong Kong on Saturday, offering an early gauge of housing demand in one of the biggest launches since the Chinese New Year holiday. As of 7:30pm, about 310 of the 360 units released at Chinachem Group’s Zendo House in Tsim Sha Tsui and Wing Tai Properties’ Cloudview in Sheung Shui had been sold, according to Centaline Property. Louis Chan Wing-kit, vice-chairman and president of the agency, said confidence in Hong Kong’s... https://www.scmp.com/business/article/3346584/developers-roll-out-360-flats-two-hong-kong-projects-amid-improving-sentiment?utm_source=rss_feed https://www.scmp.com/business/article/3346584/developers-roll-out-360-flats-two-hong-kong-projects-amid-improving-sentiment?utm_source=rss_feed Sat, 14 Mar 2026 05:40:16 +0000 Cao Li Cao Li Hong Kong stocks extended losses on Friday as the US-Iran war showed no signs of ending, with a hardline stance from both sides pushing oil prices up. The Hang Seng Index closed 1 per cent lower at 25,465.60, taking its loss to 4 per cent since the war started on February 28. The Hang Seng Tech Index also fell 1 per cent. On the mainland, the CSI 300 Index lost 0.4 per cent and the Shanghai Composite Index shed 0.8 per cent. US President Donald Trump said in a social media post on Thursday that... https://www.scmp.com/business/markets/article/3346430/hong-kong-stocks-extend-losses-us-and-iran-dig-heels-amid-escalating-conflict?utm_source=rss_feed https://www.scmp.com/business/markets/article/3346430/hong-kong-stocks-extend-losses-us-and-iran-dig-heels-amid-escalating-conflict?utm_source=rss_feed Fri, 13 Mar 2026 02:22:18 +0000 Cao Li Cao Li As innovations arise from the artificial intelligence, robotics and biotechnology sectors, holders of family capital from around the world will convene in Hong Kong to discuss such investment opportunities at the city’s fourth annual Wealth for Good Summit on March 23 and 24. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said the summit would showcase Hong Kong’s position as a premier hub for family capital seeking long-term growth and multigenerational... https://www.scmp.com/business/article/3346393/hong-kongs-wealth-good-summit-highlight-ai-robotics-biotech-opportunities?utm_source=rss_feed https://www.scmp.com/business/article/3346393/hong-kongs-wealth-good-summit-highlight-ai-robotics-biotech-opportunities?utm_source=rss_feed Thu, 12 Mar 2026 11:33:36 +0000 Cao Li Cao Li Hong Kong stocks fell on Thursday as the Middle East conflict showed no signs of ending and oil prices once again crossed US$100 a barrel. The Hang Seng Index closed 0.7 per cent lower at 25,716.76. The Hang Seng Tech Index fell 0.5 per cent. On the mainland, the CSI 300 Index eased 0.4 per cent and the Shanghai Composite Index shed 0.1 per cent. “Markets are currently pricing low-probability left-tail outcomes, driven by uncertainty around the length and escalation path of the US-Israel war on... https://www.scmp.com/business/markets/article/3346286/hong-kong-stocks-fall-oil-once-again-trades-near-us100?utm_source=rss_feed https://www.scmp.com/business/markets/article/3346286/hong-kong-stocks-fall-oil-once-again-trades-near-us100?utm_source=rss_feed Thu, 12 Mar 2026 02:23:48 +0000 Cao Li Cao Li Betting on rising global demand for energy storage, shares of Chinese lithium battery makers continued to rally on Wednesday, led by Contemporary Amperex Technology Ltd (CATL), which reported stronger-than-expected growth driven in part by its expansion into new energy storage markets. CATL shares surged more than 10 per cent to HK$608 during morning trading hours in Hong Kong on Wednesday – the highest level in five months – before closing 9 per cent higher at HK$599.50. That followed another 9... https://www.scmp.com/business/article/3346229/catl-profit-jump-fuels-hong-kong-battery-stocks-amid-global-energy-storage-boom?utm_source=rss_feed https://www.scmp.com/business/article/3346229/catl-profit-jump-fuels-hong-kong-battery-stocks-amid-global-energy-storage-boom?utm_source=rss_feed Wed, 11 Mar 2026 10:00:06 +0000 Cao Li Cao Li Hong Kong stocks fell on Wednesday as tech firms slid after Chinese authorities moved to curb the OpenClaw frenzy. The Hang Seng Index edged down 0.2 per cent to close at 25,898.76 after gaining as much as 0.7 per cent in the morning session. The Hang Seng Tech Index fell 0.1 per cent. On the mainland, the CSI 300 Index added 0.6 per cent and the Shanghai Composite Index gained 0.3 per cent. On Tuesday, China’s cybersecurity emergency response system warned of security and data risks tied to... https://www.scmp.com/business/markets/article/3346160/hong-kong-stocks-extend-rebound-proposed-release-oil-reserve-soothes-fears?utm_source=rss_feed https://www.scmp.com/business/markets/article/3346160/hong-kong-stocks-extend-rebound-proposed-release-oil-reserve-soothes-fears?utm_source=rss_feed Wed, 11 Mar 2026 02:10:04 +0000 Cao Li,Zhang Shidong Cao Li,Zhang Shidong Slumping oil prices acted as a catalyst for Hong Kong stocks, with the benchmark posting its biggest rebound in two weeks, after US President Donald Trump signalled a possible end to the Iran war and China’s exports grew at the fastest pace in four years. The Hang Seng Index rallied 2.2 per cent to close at 25,959.90, its best single-day performance since February 23. The Hang Seng Tech Index surged 2.4 per cent. On the mainland, the CSI 300 Index rose 1.3 per cent and the Shanghai Composite... https://www.scmp.com/business/commodities/article/3346031/hong-kong-stocks-rebound-after-oil-falls-trump-says-iran-war-could-end-soon?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3346031/hong-kong-stocks-rebound-after-oil-falls-trump-says-iran-war-could-end-soon?utm_source=rss_feed Tue, 10 Mar 2026 02:27:46 +0000 Zhang Shidong,Cao Li Zhang Shidong,Cao Li Hong Kong stocks fell on Monday, briefly slumping to a six-month low, as a rout spread across major Asia-Pacific markets after crude oil surged above US$100 a barrel, fuelling fears of global stagflation. The Hang Seng Index closed 1.4 per cent lower at 25,408.46. The Hang Seng Tech Index fell 0.1 per cent. On the mainland, the CSI 300 Index fell 1 per cent and the Shanghai Composite Index lost 0.7 per cent. Both Brent and West Texas Intermediate (WTI) oil contracts traded close to US$110 a... https://www.scmp.com/business/markets/article/3345915/hong-kong-stocks-sink-alongside-asian-markets-after-oil-crosses-us100?utm_source=rss_feed https://www.scmp.com/business/markets/article/3345915/hong-kong-stocks-sink-alongside-asian-markets-after-oil-crosses-us100?utm_source=rss_feed Mon, 09 Mar 2026 02:16:01 +0000 Cao Li Cao Li While oil dominates headlines amid the escalating US-Iran conflict, Chinese retail investors are zeroing in on a different concern: peppering listed companies with questions about how the turmoil could disrupt supplies of everything from fertilisers to pharmaceutical products that contain the prized spice saffron. “Given that Iran accounts for more than 90 per cent of global saffron exports, which have now been suspended, will your company continue producing saffron-containing footbath packs and... https://www.scmp.com/business/article/3345805/oil-saffron-how-us-iran-conflict-rattling-chinese-investors?utm_source=rss_feed https://www.scmp.com/business/article/3345805/oil-saffron-how-us-iran-conflict-rattling-chinese-investors?utm_source=rss_feed Sun, 08 Mar 2026 03:30:10 +0000 Cao Li,Themis Qi Cao Li,Themis Qi BYD, the world’s largest electric-vehicle (EV) maker, sold more cars overseas than at home for the first time in February, reflecting a broader trend among Chinese EV makers’ global push as domestic sales soften amid fierce competition. “Squeezed by the fierce competition at home, China’s EV makers are shifting their focus to global markets,” said David Zhang, general secretary of the Shanghai-based International Intelligent Vehicle Engineering Association. BYD, which overtook Tesla last year as... https://www.scmp.com/business/article/3345666/chinese-ev-makers-increasingly-reliant-exports-domestic-sales-decelerate?utm_source=rss_feed https://www.scmp.com/business/article/3345666/chinese-ev-makers-increasingly-reliant-exports-domestic-sales-decelerate?utm_source=rss_feed Fri, 06 Mar 2026 06:00:15 +0000 Cao Li Cao Li Singapore is the most expensive city in the Asia-Pacific region to outfit an office, driven by increased labour costs, a shortage of contractors and strict building standards, according to real estate consultancy Knight Frank. The city had the highest average fit-out cost at US$2,029 per square metre – ahead of Tokyo (US$1,994) and Taipei (US$1,593) – in the firm’s survey of 23 cities across Australasia, East Asia, Southeast Asia and India. It was also the most expensive place to set up an... https://www.scmp.com/business/article/3345398/singapore-offices-cost-most-outfit-asia-pacific-survey-says?utm_source=rss_feed https://www.scmp.com/business/article/3345398/singapore-offices-cost-most-outfit-asia-pacific-survey-says?utm_source=rss_feed Wed, 04 Mar 2026 08:30:32 +0000 Cao Li Cao Li Ahead of China’s annual legislative meetings – typically a window into Beijing’s top-level policy agenda – this is the seventh entry in a series examining the complex economic recalibration driving China’s growth philosophy and its wide-ranging implications for local governments, financial investors and private enterprises. Investors and policy watchers will be looking to this week’s meetings of China’s national legislature and top political advisory body – also known as the “two sessions” – for... https://www.scmp.com/business/article/3345261/investors-watch-chinas-two-sessions-clues-property-overhaul?utm_source=rss_feed https://www.scmp.com/business/article/3345261/investors-watch-chinas-two-sessions-clues-property-overhaul?utm_source=rss_feed Tue, 03 Mar 2026 23:30:07 +0000 Cao Li Cao Li Hong Kong stocks extended declines on Tuesday after panic selling gripped global markets, as the US-Iran war kept investors on edge and surging oil prices fuelled inflation concerns. The Hang Seng Index closed 1.1 per cent lower at 25,768.08 after losing 2.1 per cent on Monday. The Hang Seng Tech Index fell 2.3 per cent. On the mainland, the CSI 300 Index slid 1.5 per cent and the Shanghai Composite Index fell 1.4 per cent. Tensions between the US, its allies and Iran have disrupted global oil... https://www.scmp.com/business/markets/article/3345204/hong-kong-stocks-slide-second-day-us-iran-war-rattles-sentiment?utm_source=rss_feed https://www.scmp.com/business/markets/article/3345204/hong-kong-stocks-slide-second-day-us-iran-war-rattles-sentiment?utm_source=rss_feed Tue, 03 Mar 2026 02:14:04 +0000 Cao Li Cao Li A subsidiary of state-owned conglomerate China Resources (Holdings) has acquired a Hong Kong hotel and plans to convert it into student housing amid a wave of investments driven by rising demand after the city raised the cap on non-local students. CR Longdation signed an agreement to buy four-star hotel Hotel Cozi Oasis in Kwai Chung, a major industrial and residential area in the southwestern New Territories, for HK$953 million (US$122 million), said Colliers and Knight Frank, which advised on... https://www.scmp.com/business/article/3345026/china-resources-subsidiary-acquires-hong-kong-hotel-student-housing-project?utm_source=rss_feed https://www.scmp.com/business/article/3345026/china-resources-subsidiary-acquires-hong-kong-hotel-student-housing-project?utm_source=rss_feed Sun, 01 Mar 2026 12:00:14 +0000 Cao Li Cao Li China’s major sportswear makers have shrugged off soft consumer spending and a warm winter, according to analysts. Retail sales in China’s sportswear sector picked up in the first two months of 2026 and beat expectations, helped by fresh policy support and Chinese New Year demand, analysts said. Separately, Chinese households also tuned into the Winter Olympics, where domestic sportswear giants Li Ning and Anta had high visibility. “We are turning more positive on the China sportswear industry... https://www.scmp.com/business/article/3345011/warm-winter-no-match-chinas-sportswear-sector-posts-surprise-growth?utm_source=rss_feed https://www.scmp.com/business/article/3345011/warm-winter-no-match-chinas-sportswear-sector-posts-surprise-growth?utm_source=rss_feed Sun, 01 Mar 2026 10:00:18 +0000 Cao Li Cao Li The top executive of Wuliangye Yibin – China’s second-largest liquor producer – has come under investigation for suspected corruption. Zeng Congqin, 57, chairman and party secretary of the state-owned liquor giant, is suspected of serious violations of party discipline and law – a typical reference to corruption – the provincial anti-corruption body, Sichuan Discipline Inspection Commission, announced on Saturday night. Zeng is being investigated by authorities in Yibin, a major city in the... https://www.scmp.com/business/article/3345009/chairman-chinas-second-largest-liquor-producer-under-corruption-probe?utm_source=rss_feed https://www.scmp.com/business/article/3345009/chairman-chinas-second-largest-liquor-producer-under-corruption-probe?utm_source=rss_feed Sun, 01 Mar 2026 06:10:34 +0000 Cao Li Cao Li At Pop Mart’s shop in Hong Kong’s bustling Causeway Bay shopping district, a display of the toymaker’s newly launched character, Merodi, drew little attention on Friday morning. “A few people are buying it,” a salesperson said. “It’s not very well known yet.” The new series, Merodi After School, features a mischievous little girl with the magical ability to talk to animals. It was created by Taiwanese artist Will Chen Wei-hua. The launch came two months after Pop Mart’s previous debut,... https://www.scmp.com/business/companies/article/3344856/merodi-debut-hong-kong-shows-pop-marts-struggle-beyond-ip-darling-labubu?utm_source=rss_feed https://www.scmp.com/business/companies/article/3344856/merodi-debut-hong-kong-shows-pop-marts-struggle-beyond-ip-darling-labubu?utm_source=rss_feed Fri, 27 Feb 2026 08:45:18 +0000 Cao Li Cao Li The value of collateral assets used by banks for commercial property loans is expected to continue declining in 2026, according to S&P Global Ratings, as the sector has yet to find a clear bottom. “More collateral pain is likely this year for Hong Kong banks,” the credit rating agency said in a report published on Thursday, adding that a subset of small banks could face more acute strain. That assessment comes as Hong Kong’s commercial property market remains on a sustained downturn that started... https://www.scmp.com/business/banking-finance/article/3344761/hong-kong-banks-collateral-asset-valuations-continue-declining-2026-sp?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3344761/hong-kong-banks-collateral-asset-valuations-continue-declining-2026-sp?utm_source=rss_feed Thu, 26 Feb 2026 12:18:04 +0000 Cao Li Cao Li Shanghai has further relaxed home purchase rules just six months after the last adjustment, in its latest attempt to stem a multi-year property downturn. Non-residents who have made social security contributions or paid individual income tax for one year will be eligible to buy one home in the city, Shanghai authorities said in a joint statement. Previously, non-residents had to wait three years based on a policy announcement last August, easing a five-year mandate introduced in 2016 to cool an... https://www.scmp.com/business/article/3344606/shanghai-eases-residency-requirements-homebuyers-spark-property-recovery?utm_source=rss_feed https://www.scmp.com/business/article/3344606/shanghai-eases-residency-requirements-homebuyers-spark-property-recovery?utm_source=rss_feed Wed, 25 Feb 2026 09:47:59 +0000 Cao Li Cao Li The risk of an artificial intelligence bubble has, for the first time, become the top concern among credit investors, overshadowing geopolitical worries, according to a Bank of America (BofA) survey. In a February survey of investment-grade clients who buy and sell debt, 23 per cent said the threat of an AI bubble was now their top concern, up from 9 per cent in December, according to BofA strategists Barnaby Martin and Ioannis Angelakis and analyst Mohit Agarwalla. “[An] AI bubble is now seen... https://www.scmp.com/business/markets/article/3344555/ai-bubble-overtakes-geopolitics-top-concern-credit-investors-bofa-survey-finds?utm_source=rss_feed https://www.scmp.com/business/markets/article/3344555/ai-bubble-overtakes-geopolitics-top-concern-credit-investors-bofa-survey-finds?utm_source=rss_feed Wed, 25 Feb 2026 05:51:38 +0000 Cao Li Cao Li China’s shop rents have slid back to 2018 levels as subdued consumer spending continues to weigh on the retail sector, with analysts expecting the pressure to persist for another one to two years. In the second half of 2025, average rents across 100 major commercial streets in 15 key mainland cities fell to 24 yuan (US$3.50) per square metre per day — the lowest level since the second half of 2018 — according to a report published on Monday by independent real estate research firm China Index... https://www.scmp.com/business/article/3344308/empty-shops-falling-rents-commercial-property-takes-hit-china-retail-slump?utm_source=rss_feed https://www.scmp.com/business/article/3344308/empty-shops-falling-rents-commercial-property-takes-hit-china-retail-slump?utm_source=rss_feed Mon, 23 Feb 2026 06:30:07 +0000 Cao Li Cao Li HSBC has cut about 10 per cent of its US-based debt capital markets team as part of an ongoing cost-cutting drive and broader restructuring announced in October 2024, according to media reports. At least six staff in New York were laid off on Thursday, Bloomberg reported, citing people familiar with the matter. Those affected included a managing director, two directors, two associates and an analyst. Europe’s largest lender by assets, and one of Hong Kong’s biggest banks, unveiled a sweeping... https://www.scmp.com/business/article/3344162/hsbc-cuts-10-us-debt-team-restructuring-gathers-pace?utm_source=rss_feed https://www.scmp.com/business/article/3344162/hsbc-cuts-10-us-debt-team-restructuring-gathers-pace?utm_source=rss_feed Fri, 20 Feb 2026 11:13:07 +0000 Cao Li Cao Li Zeekr, the premium electric vehicle (EV) brand owned by Geely Auto, has entered the Italian market, with customer deliveries and retail openings set to follow in spring. The move is part of its broader European expansion, following the launch of sales in Germany in December last year. In partnership with local distributor Jameel Motors Italia, Zeekr began taking orders for its full model range on Thursday, according to a press release. “Italy is a key market in our European expansion, and the... https://www.scmp.com/business/article/3344079/chinese-ev-maker-zeekr-accelerates-european-expansion-italy-launch?utm_source=rss_feed https://www.scmp.com/business/article/3344079/chinese-ev-maker-zeekr-accelerates-european-expansion-italy-launch?utm_source=rss_feed Fri, 20 Feb 2026 04:43:31 +0000 Cao Li Cao Li Producers across the world are likely to ramp up output of commodities such as copper and lithium, limiting the kind of runaway price gains seen in gold even as markets anticipate a prolonged rally in raw materials, Goldman Sachs said. Gold has surged to record highs, while a range of other commodities have also climbed, as governments and investors seek the perceived “insurance” value of hard assets amid geopolitical tensions and policy uncertainty, the US bank said in a report addressing what... https://www.scmp.com/business/article/3343829/copper-lithium-unlikely-match-golds-gains-output-rises-goldman?utm_source=rss_feed https://www.scmp.com/business/article/3343829/copper-lithium-unlikely-match-golds-gains-output-rises-goldman?utm_source=rss_feed Thu, 19 Feb 2026 03:30:08 +0000 Cao Li Cao Li The world’s two largest brewers faced starkly diverging realities in China in 2025 and rather than it being about taste or popularity, the contrast appears to largely boil down to a shift in the nation’s drinking habits, sparked – in part – by the economic downturn. During the year, Budweiser Brewing APAC, the Asian subsidiary of the Belgian beer giant Anheuser-Busch InBev, posted its biggest decline in profit growth since 2020, with the company’s CEO Yanjun Cheng stating last week, “Our... https://www.scmp.com/business/article/3343814/budweiser-and-heineken-face-polar-opposite-fates-china-punters-favour-home-comforts?utm_source=rss_feed https://www.scmp.com/business/article/3343814/budweiser-and-heineken-face-polar-opposite-fates-china-punters-favour-home-comforts?utm_source=rss_feed Wed, 18 Feb 2026 04:00:09 +0000 Cao Li Cao Li Global index provider MSCI revised its China gauge on Wednesday, swapping property and conglomerates for semiconductor and artificial intelligence stocks in a sign of technology’s rising role in the economy. The MSCI China Index added tech stocks including SenseTime, Pony.ai and Hesai Technology for a second straight quarter of net constituent growth since late 2025, a move analysts said would accelerate capital flows into the country’s technology sector. Against a macro backdrop of a relatively... https://www.scmp.com/business/markets/article/3343220/index-compiler-msci-tilts-towards-chinese-tech-stocks-latest-revamp?utm_source=rss_feed https://www.scmp.com/business/markets/article/3343220/index-compiler-msci-tilts-towards-chinese-tech-stocks-latest-revamp?utm_source=rss_feed Wed, 11 Feb 2026 23:30:08 +0000 Cao Li Cao Li China’s commercial real estate stress will force some Hong Kong banks with significant exposure to the sector to set aside additional reserves for potentially higher non-performing loans, which could weigh on their second-half 2025 earnings, according to Citi. In a report on Tuesday, Citi Research said Bank of China (Hong Kong) (BOCHK), the Hong Kong subsidiary of state-owned Bank of China, and Bank of East Asia (BEA) had the highest exposure to China’s commercial real estate, which is under... https://www.scmp.com/business/banking-finance/article/3343080/chinas-property-woes-likely-hurt-some-hong-kong-banks-2025-earnings-citi?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343080/chinas-property-woes-likely-hurt-some-hong-kong-banks-2025-earnings-citi?utm_source=rss_feed Tue, 10 Feb 2026 11:28:24 +0000 Cao Li Cao Li Pop Mart’s shares climbed on Monday after the Chinese toymaker highlighted strong operating momentum at its annual gathering, reinforcing investor confidence ahead of earnings. The company’s Hong Kong-listed stock rose 8.6 per cent to HK$264.20 in afternoon trading before edging down to close 5.8 per cent up at HK$257.20. Shares are now up more than 37 per cent year to date, though still about 24 per cent below their August peak of HK$339.80. Founder Wang Ning said at the company’s annual party... https://www.scmp.com/business/article/3342884/chinas-pop-mart-gains-earnings-hopes-investors-eye-growth-beyond-labubu?utm_source=rss_feed https://www.scmp.com/business/article/3342884/chinas-pop-mart-gains-earnings-hopes-investors-eye-growth-beyond-labubu?utm_source=rss_feed Mon, 09 Feb 2026 05:15:40 +0000 Cao Li Cao Li A growing number of Hong Kong-listed companies are tapping strong equity market sentiment to issue convertible bonds, a trend bankers expect to continue. Eleven companies raised US$7.4 billion through convertible bonds in the first five weeks of 2026, about 47 per cent of last year’s US$16 billion total, according to Dealogic. Tianqi Lithium, one of the world’s largest producers of lithium-ion battery materials, announced on Wednesday that it would raise about HK$5.9 billion (US$755 million)... https://www.scmp.com/business/article/3342844/hong-kong-firms-rush-issue-convertibles-and-trend-could-continue-bankers-say?utm_source=rss_feed https://www.scmp.com/business/article/3342844/hong-kong-firms-rush-issue-convertibles-and-trend-could-continue-bankers-say?utm_source=rss_feed Mon, 09 Feb 2026 02:30:14 +0000 Cao Li Cao Li “Three Starbucks peach lattes for 84.90 yuan [US$12]”, a live streaming host tells viewers on Douyin, China’s popular short-video platform. “Three, two, one – the link is up. Don’t miss this deal, babes.” As Starbucks’ planned sale of a majority stake in its China business to Boyu Capital, announced three months ago, awaits regulatory clearance, the US coffee chain has stepped up its push into China’s heated live streaming shopping race, using discounts to bring down the cost per cup. The... https://www.scmp.com/business/article/3342682/waning-fortunes-how-western-brands-are-adapting-chinas-changing-consumer-landscape?utm_source=rss_feed https://www.scmp.com/business/article/3342682/waning-fortunes-how-western-brands-are-adapting-chinas-changing-consumer-landscape?utm_source=rss_feed Sat, 07 Feb 2026 02:00:10 +0000 Cao Li,Aileen Chuang Cao Li,Aileen Chuang Leading agricultural technology firm Syngenta Group is considering a Hong Kong listing that could raise as much as US$10 billion, in what would rank among the city’s largest initial public offerings (IPOs) in recent years. The Swiss-founded company, acquired by Chinese state-owned Sinochem in 2017, is in talks with investment banks to arrange the share sale, sources told the South China Morning Post. CICC and UBS are among the banks that are advising on the listing. Both banks declined to... https://www.scmp.com/business/article/3342627/syngenta-eyes-return-markets-potential-us10-billion-hong-kong-debut?utm_source=rss_feed https://www.scmp.com/business/article/3342627/syngenta-eyes-return-markets-potential-us10-billion-hong-kong-debut?utm_source=rss_feed Fri, 06 Feb 2026 06:50:43 +0000 Cao Li,Daniel Ren,Ann Cao Cao Li,Daniel Ren,Ann Cao China’s food delivery giant Meituan said on Thursday that it had agreed to acquire Dingdong, a leading on-demand commerce platform in China specialising in fresh groceries. Meituan said it would purchase all issued shares of Dingdong Fresh Holding, wholly owned by New York-listed Dingdong (Cayman) Limited, for an initial consideration of US$717 million, subject to adjustment, according to a filing with the Hong Kong stock exchange. The deal is subject to conditions including antitrust clearance... https://www.scmp.com/business/article/3342537/chinas-meituan-snaps-dingdong-deepen-push-fresh-grocery-retail?utm_source=rss_feed https://www.scmp.com/business/article/3342537/chinas-meituan-snaps-dingdong-deepen-push-fresh-grocery-retail?utm_source=rss_feed Thu, 05 Feb 2026 10:54:35 +0000 Cao Li,Yulu Ao Cao Li,Yulu Ao When Malaysian civil engineering contractor BBSB International listed in Hong Kong last month, its offering was oversubscribed by a factor of nearly 11,000, and its shares rose more than fivefold from their offer price of HK$0.60 on the morning of their trading debut. BBSB is one of several non-Chinese companies that have flocked to Hong Kong to list recently, and banks expect more to follow this year as the city’s initial public offering (IPO) market booms. While New York and London used to be... https://www.scmp.com/business/article/3342363/vibrant-hong-kong-market-attract-more-listings-abroad-bankers-say?utm_source=rss_feed https://www.scmp.com/business/article/3342363/vibrant-hong-kong-market-attract-more-listings-abroad-bankers-say?utm_source=rss_feed Wed, 04 Feb 2026 08:45:36 +0000 Cao Li Cao Li Leading Chinese broker Huatai Securities plans to raise up to HK$10 billion (US$1.3 billion) through the issuance of zero-coupon convertible bonds to support its international expansion, according to a Hong Kong stock exchange filing on Tuesday. The company expects net proceeds of about HK$9.9 billion after commissions and expenses, with the funds earmarked for overseas business development and to bolster working capital. The bonds will carry no interest and mature in February 2027. Investors... https://www.scmp.com/business/article/3342184/chinas-huatai-securities-raise-us13-billion-fund-overseas-push?utm_source=rss_feed https://www.scmp.com/business/article/3342184/chinas-huatai-securities-raise-us13-billion-fund-overseas-push?utm_source=rss_feed Tue, 03 Feb 2026 04:02:24 +0000 Cao Li Cao Li China’s years-long property downturn has carried into 2026, with new-home sales sliding sharply and, by some measures, deteriorating at their fastest pace in recent years. The country’s top 100 developers reported combined contracted sales of 165.5 billion yuan (US$24 billion) in January, down 27 per cent from a year earlier, according to data released over the weekend by China Real Estate Information Corporation (CRIC). Stress was particularly acute among offshore borrowers. The combined... https://www.scmp.com/business/article/3342060/bleak-start-2026-chinas-property-sector-sales-declines-accelerate?utm_source=rss_feed https://www.scmp.com/business/article/3342060/bleak-start-2026-chinas-property-sector-sales-declines-accelerate?utm_source=rss_feed Mon, 02 Feb 2026 06:30:07 +0000 Cao Li Cao Li Nearly 100 companies filed new listing applications in Hong Kong in January, marking a strong start to 2026 for initial public offering (IPO) activity. A total of 95 companies applied to list on Hong Kong’s main board, while one sought a place on the Growth Enterprise Market, which primarily served smaller and growth-stage firms, according to a report from Hong Kong Exchanges and Clearing (HKEX) on Friday. The 96 applications were more than triple the 29 recorded a year earlier, and roughly... https://www.scmp.com/business/article/3342003/hong-kong-back-global-ipo-spotlight-after-strongest-january-years?utm_source=rss_feed https://www.scmp.com/business/article/3342003/hong-kong-back-global-ipo-spotlight-after-strongest-january-years?utm_source=rss_feed Sun, 01 Feb 2026 12:00:08 +0000 Cao Li,Cheryl Arcibal Cao Li,Cheryl Arcibal The potential sale of a stake in New World Development (NWD) to new investors will help the embattled Hong Kong-listed developer improve its balance sheet and liquidity, benefiting creditors and shareholders alike, according to analysts. It was reported earlier that New York-based private equity giant Blackstone was interested in investing in NWD, which could take the form of “shareholder loans or direct equity financing, as well as offloading noncore investment properties”, said Jeff Zhang, an... https://www.scmp.com/business/article/3341740/nwd-says-parent-approached-investors-after-report-links-blackstone-stake-sale?utm_source=rss_feed https://www.scmp.com/business/article/3341740/nwd-says-parent-approached-investors-after-report-links-blackstone-stake-sale?utm_source=rss_feed Thu, 29 Jan 2026 16:24:38 +0000 Cao Li Cao Li British-Swedish pharmaceutical giant AstraZeneca said on Thursday it plans to invest US$15 billion in China through 2030, signalling renewed momentum in Sino-UK commercial ties. The investment – the biggest deal announced so far during UK Prime Minister Keir Starmer’s trip to Beijing aimed at strengthening trade ties – will support expanded medicines manufacturing as well as research and development (R&D), the company said in a statement. “Unlocking opportunities for British businesses across... https://www.scmp.com/business/companies/article/3341725/astrazeneca-unveils-us15-billion-china-investment-plan-starmer-visits-beijing?utm_source=rss_feed https://www.scmp.com/business/companies/article/3341725/astrazeneca-unveils-us15-billion-china-investment-plan-starmer-visits-beijing?utm_source=rss_feed Thu, 29 Jan 2026 12:21:00 +0000 Cao Li Cao Li Chinese liquor stocks jumped on Thursday ahead of Lunar New Year, with retailers reportedly building inventories of spirits typically consumed at family reunions and corporate banquets. Shares of Kweichow Moutai – China’s best-known baijiu maker and the most valuable stock on the mainland market – climbed more than 9 per cent in afternoon trading to 1,445 yuan, their highest level in over a month. The stock closed the session 8.6 per cent higher at 1,437.72 yuan. Smaller peers also rallied, with... https://www.scmp.com/business/article/3341718/spirits-rise-baijiu-shares-rally-lunar-new-year-demand?utm_source=rss_feed https://www.scmp.com/business/article/3341718/spirits-rise-baijiu-shares-rally-lunar-new-year-demand?utm_source=rss_feed Thu, 29 Jan 2026 11:21:45 +0000 Cao Li,Themis Qi Cao Li,Themis Qi As Chinese companies accelerate their overseas expansion, industry leaders are urging a more partnership-driven approach rather than simply building factories abroad – a strategy they say could help ease growing concerns about excess capacity. As it pushes further into global markets, Zhejiang Geely Holding Group will prioritise partnerships over rapid capacity build-outs, vice-chairman Daniel Li Donghui said at the Asian Financial Forum (AFF) in Hong Kong on Tuesday. “We don’t think it’s the... https://www.scmp.com/business/article/3341479/partnerships-not-plants-chinese-companies-rethink-overseas-expansion-strategy?utm_source=rss_feed https://www.scmp.com/business/article/3341479/partnerships-not-plants-chinese-companies-rethink-overseas-expansion-strategy?utm_source=rss_feed Wed, 28 Jan 2026 03:00:13 +0000 Cao Li Cao Li The use of technology in trade finance is advancing from digitising existing paperwork to re-engineering entire processes with artificial intelligence and shared data, according to bank executives at the Development & Innovation of AI for Digital Finance forum on Monday in Hong Kong. “When we are talking about digitalisation, we are actually making the current process digital,” said Raluca Popa, head of global trade solutions, commercial banking, Hong Kong, HSBC. “The future will require a... https://www.scmp.com/business/article/3341285/digital-finance-forum-ai-data-must-link-digital-islands-smooth-trade-finance?utm_source=rss_feed https://www.scmp.com/business/article/3341285/digital-finance-forum-ai-data-must-link-digital-islands-smooth-trade-finance?utm_source=rss_feed Mon, 26 Jan 2026 11:46:29 +0000 Cao Li Cao Li Shares of Chinese toymaker Pop Mart rallied nearly 10 per cent on Tuesday morning before closing more than 9 per cent higher after the company announced its first share buy-back in nearly two years, following a decline from last year’s peak. Pop Mart’s Hong Kong-listed shares rose to HK$198.70 at the open as investors welcomed the move. Shares closed 9.1 per cent higher at HK$197.20. The stock remains below last year’s closing level of HK$200.20, and more than 40 per cent off its August peak,... https://www.scmp.com/business/article/3340498/labubu-maker-pop-mart-surges-10-hong-kong-us32-million-buy-back?utm_source=rss_feed https://www.scmp.com/business/article/3340498/labubu-maker-pop-mart-surges-10-hong-kong-us32-million-buy-back?utm_source=rss_feed Tue, 20 Jan 2026 04:05:16 +0000 Cao Li Cao Li Home prices in mainland China continued to decline at a rapid pace in December, posing challenges for an economy that is struggling to find new growth drivers. New home prices fell 0.4 per cent month on month on average across 70 cities, according to data from the National Bureau of Statistics (NBS) on Monday. The fall matched November’s drop and was among the steepest in more than a year. Prices slipped 3 per cent year on year in December, accelerating from a 2.8 per cent drop in November. Only... https://www.scmp.com/property/article/3340369/mainland-chinas-home-prices-extend-slide-adding-strain-struggling-property-sector?utm_source=rss_feed https://www.scmp.com/property/article/3340369/mainland-chinas-home-prices-extend-slide-adding-strain-struggling-property-sector?utm_source=rss_feed Mon, 19 Jan 2026 04:14:19 +0000 Zhang Shidong,Cao Li Zhang Shidong,Cao Li Kuaishou Technology plans to raise a combined US$2 billion from a dual-currency bond sale as the short-video platform operator taps the overseas debt market for the first time to strengthen its businesses. The company would issue a US$1.5 billion tranche and a 3.5 billion yuan (US$502.4 million) tranche, both in Hong Kong, according to an exchange filing on Friday. The dollar bonds maturing in January 2031 will carry a coupon of 4.125 per cent, while those due in January 2036 will carry a 4.75... https://www.scmp.com/business/china-business/article/3340083/hong-kongs-kuaishou-raise-us2-billion-dual-currency-bond-sale?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3340083/hong-kongs-kuaishou-raise-us2-billion-dual-currency-bond-sale?utm_source=rss_feed Fri, 16 Jan 2026 01:57:15 +0000 Cao Li Cao Li Chinese short-video platform Kuaishou Technology is pitching its debut offshore bond sale to professional investors, joining a wave of domestic tech companies raising funds in the global debt market. The Beijing-based company, which is offering senior unsecured notes in US dollars and Chinese yuan, said on Wednesday that it planned to use the proceeds from the issuance for general corporate purposes. The two offerings were separate and not inter-conditional, meaning each could proceed... https://www.scmp.com/business/companies/article/3339826/chinese-short-video-giant-kuaishou-taps-global-debt-market-us-dollar-yuan-bonds?utm_source=rss_feed https://www.scmp.com/business/companies/article/3339826/chinese-short-video-giant-kuaishou-taps-global-debt-market-us-dollar-yuan-bonds?utm_source=rss_feed Wed, 14 Jan 2026 06:07:41 +0000 Cao Li Cao Li Hong Kong stocks rose on Tuesday as global investors broadened their focus beyond US markets, fuelling gains across Asian equities, while the yuan advanced to its strongest level against the US dollar since May 2023. The Hang Seng Index closed 0.9 per cent up at 26,848.47 after earlier gaining more than 2 per cent to 27,143 – its highest since last November. The Hang Seng Tech Index was little changed after advancing more than 2.4 per cent in the morning. On the mainland, the CSI 300 Index and... https://www.scmp.com/business/article/3339662/hong-kong-stocks-climb-yuan-hits-strongest-level-nearly-three-years?utm_source=rss_feed https://www.scmp.com/business/article/3339662/hong-kong-stocks-climb-yuan-hits-strongest-level-nearly-three-years?utm_source=rss_feed Tue, 13 Jan 2026 02:31:47 +0000 Cao Li Cao Li Hong Kong stocks rallied on Monday, lifted by gains in healthcare and technology shares, while daily turnover on mainland China’s exchanges surged to a record high. The Hang Seng Index climbed 1.4 per cent to close at 26,608.48, while the Hang Seng Tech Index climbed 2.9 per cent. On the mainland, the CSI 300 Index advanced 0.65 per cent and the Shanghai Composite Index gained 1.1 per cent. Trading volume on the Shanghai and Shenzhen exchanges shares hit a record 3.58 trillion yuan (US$513.2... https://www.scmp.com/business/article/3339531/hong-kong-stocks-edge-higher-tech-and-pharmaceutical-gains?utm_source=rss_feed https://www.scmp.com/business/article/3339531/hong-kong-stocks-edge-higher-tech-and-pharmaceutical-gains?utm_source=rss_feed Mon, 12 Jan 2026 02:33:43 +0000 Cao Li Cao Li Hong Kong’s largest developer, Sun Hung Kai Properties (SHKP), posted another sell-out this weekend for the latest batch of units on sale at its massive Sierra Sea residential project, as improving market sentiment continued to boost homebuyers’ confidence. Homebuyers snapped up all 213 flats on sale at Sierra Sea’s Phase 2A as of 9pm on Saturday, according to agents. Information on 49 other flats offered via tender were not disclosed. “About 60 per cent of buyers are for investment,” said Louis... https://www.scmp.com/business/companies/article/3339431/hong-kongs-shkp-set-continue-sell-out-streak-latest-sierra-sea-offering-agents?utm_source=rss_feed https://www.scmp.com/business/companies/article/3339431/hong-kongs-shkp-set-continue-sell-out-streak-latest-sierra-sea-offering-agents?utm_source=rss_feed Sat, 10 Jan 2026 06:43:57 +0000 Cao Li Cao Li Offshore bondholders of distressed developer China Vanke could face near-total losses in a worst-case scenario, according to Barclays, underscoring the deepening risks in mainland China’s property sector. In a base-case scenario, bondholders may recover just 10.1 per cent of what they were owed, roughly half what already deeply distressed market prices suggested, the British bank said in a report. However, in a worst-case scenario, assuming lower proceeds from onshore assets and netting out... https://www.scmp.com/business/article/3339084/china-vanke-offshore-bondholders-face-near-wipeout-barclays-worst-case-scenario?utm_source=rss_feed https://www.scmp.com/business/article/3339084/china-vanke-offshore-bondholders-face-near-wipeout-barclays-worst-case-scenario?utm_source=rss_feed Wed, 07 Jan 2026 23:30:09 +0000