https://www.scmp.com/rss/524720/feed Themis joined SCMP in 2025 as a business reporter. She previously covered business trends in Hong Kong and mainland China with topics including financial market, EV and new energy. Prior to joining SCMP, she worked for The Standard for more than three years. She holds a master's degree in journalism from the Hong Kong Baptist University. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Themis Qi Themis Qi German automotive giant Volkswagen will launch three new electric vehicle (EV) models in mainland China over the next two weeks, developed using technology from Chinese firms. The move comes at a time when international marques are struggling on the mainland amid fierce competition in the world’s largest car market. As the largest foreign carmaker in China, Volkswagen previously said that it would integrate Germany’s high manufacturing standards with technology developed by Chinese firms. “We... https://www.scmp.com/business/china-evs/article/3349457/volkswagen-tests-chinas-appetite-locally-developed-evs?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3349457/volkswagen-tests-chinas-appetite-locally-developed-evs?utm_source=rss_feed Thu, 09 Apr 2026 03:57:03 +0000 Themis Qi Themis Qi The energy shock stemming from the Middle Eastern conflict may help Chinese electric-vehicle (EV) makers exceed their overseas expansion goals this year, according to analysts. “High oil prices – and even gasoline shortages in some countries – will accelerate the pace of China’s EV exports,” said Yale Zhang, managing director at the consultancy Automotive Foresight in Shanghai. “This oil crisis presents a historic opportunity for China’s EV industry, just as the oil crisis of the 1970s paved the... https://www.scmp.com/business/china-evs/article/3348561/middle-east-oil-shock-jolts-ev-demand-putting-chinese-exports-fast-lane?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3348561/middle-east-oil-shock-jolts-ev-demand-putting-chinese-exports-fast-lane?utm_source=rss_feed Tue, 31 Mar 2026 23:30:08 +0000 Themis Qi,Eunice Xu Themis Qi,Eunice Xu South Korea has become a focal point of Asia’s petrochemical crisis, a frontline economy suddenly forced to navigate the fallout from the Middle East turmoil while scrambling for alternatives. Its semiconductor and industrial sectors, already heavily dependent on imported naphtha, are now exposed to geopolitical shocks that are rippling across the region. South Korea relies on imports for about 45 per cent of its naphtha demand. About 77 per cent of those come from the Middle East. On Monday,... https://www.scmp.com/business/china-business/article/3348503/asias-chip-industry-faces-naphtha-squeeze-and-south-korea-feels-it-most?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3348503/asias-chip-industry-faces-naphtha-squeeze-and-south-korea-feels-it-most?utm_source=rss_feed Tue, 31 Mar 2026 08:30:13 +0000 Themis Qi Themis Qi China’s art market is showing tentative signs of recovery despite economic pressures, according to UBS, which cited rising participation from the next generation of wealthy families. “We have been seeing a rebound, with more trips for auctions and purchases [in China],” said Amy Lo Choi-wan, chairman of UBS Global Wealth Management Asia and CEO of UBS Hong Kong, in an exclusive interview with the South China Morning Post. “So I am optimistic.” Despite a prolonged property downturn and weak... https://www.scmp.com/business/money/markets-investing/article/3348293/sketching-recovery-chinas-art-market-puts-next-gen-buyers-frame-amid-slowdown?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/3348293/sketching-recovery-chinas-art-market-puts-next-gen-buyers-frame-amid-slowdown?utm_source=rss_feed Mon, 30 Mar 2026 00:30:17 +0000 Peggy Ye,Themis Qi Peggy Ye,Themis Qi From luxury hotels to investment, Hong Kong is drawing Middle Eastern money as geopolitical tensions reshape travel and capital flows. Hoteliers said they were seeing a growing number of visitors from the region, many of whom were staying longer than typical guests. At the same time, investors are increasingly exploring opportunities in the city as they look to diversify their portfolios. “In Hong Kong, we have seen a recent increase in guest arrivals from the Middle East, and they tend to stay... https://www.scmp.com/business/money/markets-investing/article/3348235/geopolitical-tensions-rise-middle-eastern-money-and-travellers-pivot-hong-kong?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/3348235/geopolitical-tensions-rise-middle-eastern-money-and-travellers-pivot-hong-kong?utm_source=rss_feed Sun, 29 Mar 2026 01:30:15 +0000 Themis Qi Themis Qi The era of price wars in China’s electric vehicle (EV) market is giving way to a new contest: who can deliver better technology at the same price. On a cloudy evening in March, Shenzhen-based BYD put forward its answer with the unveiling of a battery capable of charging from 10 to 70 per cent in just five minutes – and to 97 per cent in nine minutes. The company said it would apply the technology to models priced as low as 155,000 yuan (US$22,500) while building 20,000 charging stations this... https://www.scmp.com/business/china-evs/article/3348131/how-chinas-ev-makers-think-they-can-outrun-disastrous-price-wars?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3348131/how-chinas-ev-makers-think-they-can-outrun-disastrous-price-wars?utm_source=rss_feed Sat, 28 Mar 2026 02:00:13 +0000 Cheryl Arcibal,Themis Qi Cheryl Arcibal,Themis Qi China National Offshore Oil Corporation (CNOOC), the country’s largest producer of offshore crude oil and natural gas, aims to further boost production this year amid geopolitical tensions and rising oil prices. The plan came after the state-backed company reported an 11.5 per cent drop in net profit to 122.08 billion yuan (US$17.7 billion) in 2025, owing to low oil prices during the year, even though it produced record-high volumes of the commodities. Its revenue in the period also dipped by... https://www.scmp.com/business/article/3348035/chinas-cnooc-boost-oil-and-gas-output-amid-middle-east-strife?utm_source=rss_feed https://www.scmp.com/business/article/3348035/chinas-cnooc-boost-oil-and-gas-output-amid-middle-east-strife?utm_source=rss_feed Thu, 26 Mar 2026 12:36:39 +0000 Themis Qi Themis Qi Volkswagen will withdraw its mass-market car brand Skoda from mainland China after years of lacklustre sales, as international marques continue to lose their appeal in the world’s largest automotive market. “Skoda Auto has realigned its global strategy to focus on growth markets such as India and the Asean region,” a Volkswagen spokesperson said on Thursday in a written response to the South China Morning Post, without denying earlier reports that the Czech brand would cease selling new vehicles... https://www.scmp.com/business/china-evs/article/3348007/vw-pulls-skoda-brand-china-after-years-falling-sales?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3348007/vw-pulls-skoda-brand-china-after-years-falling-sales?utm_source=rss_feed Thu, 26 Mar 2026 10:30:08 +0000 Themis Qi Themis Qi Rising memory-chip costs could reshape the smartphone industry, said Xiaomi president William Lu Weibing, after weak smartphone sales cut into the firm’s fourth-quarter profit. Memory prices were surging at a magnitude “beyond imagination”, drawing smartphone makers into a long-term price-raising cycle, Lu said on an earnings call on Tuesday. “When the price-raising cycle ends, some players may suffer significant losses or even face closure,” he said, without elaborating. However, the challenge... https://www.scmp.com/business/china-evs/article/3347728/xiaomi-profit-drops-27-weaker-smartphone-sales-chinese-firms-ev-growth-slows?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3347728/xiaomi-profit-drops-27-weaker-smartphone-sales-chinese-firms-ev-growth-slows?utm_source=rss_feed Tue, 24 Mar 2026 10:27:27 +0000 Themis Qi Themis Qi Three Chinese electric vehicle (EV) makers have raised prices for some models in response to rising supply chain costs, but analysts say the increases are unlikely to be sustained given weakening domestic demand. Xiaomi became the latest manufacturer to adjust pricing on March 19, announcing that its new-generation SU7 standard version would start at 219,900 yuan (US$31,800) – a 4,000 yuan increase over the previous model. Founder and CEO Lei Jun had attributed the rise to aggressive surges in... https://www.scmp.com/business/banking-finance/article/3347527/three-chinese-ev-makers-raise-prices-analysts-warn-weak-demand-could-force-reversal?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347527/three-chinese-ev-makers-raise-prices-analysts-warn-weak-demand-could-force-reversal?utm_source=rss_feed Mon, 23 Mar 2026 23:30:08 +0000 Themis Qi Themis Qi About 130 family office decision-makers and affluent second-generation members from across the world attended a dinner held by the Hong Kong government on Monday evening, including billionaire Pop Mart founder, chairman and CEO Wang Ning. The dinner set the stage for the fourth edition of the Wealth for Good in Hong Kong (WGHK) Summit, themed “Building Lasting Legacies”, which will take place on Tuesday, as the city promotes its capabilities as an international wealth management hub amid global... https://www.scmp.com/business/banking-finance/article/3347628/hong-kongs-family-office-summit-draws-pop-mart-billionaire-among-global-guest-list?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347628/hong-kongs-family-office-summit-draws-pop-mart-billionaire-among-global-guest-list?utm_source=rss_feed Mon, 23 Mar 2026 14:13:17 +0000 Themis Qi Themis Qi Zijin Mining, China’s largest gold producer, has expanded its buying spree by acquiring controlling shares in China-based Chifeng Jilong Gold Mining for 18.26 billion yuan (US$2.64 billion), the company said. The acquisition came only two months after Zijin Mining proposed to buy Canadian Allied Gold for 28 billion yuan as part of its global expansion. Through its subsidiary Zijin Gold, the acquisition was structured in two primary tranches, Zijin Mining said in a Hong Kong stock exchange filing... https://www.scmp.com/business/commodities/article/3347547/chinas-zijin-mining-clinches-us26-billion-chifeng-gold-takeover-expansion-drive?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3347547/chinas-zijin-mining-clinches-us26-billion-chifeng-gold-takeover-expansion-drive?utm_source=rss_feed Mon, 23 Mar 2026 06:17:31 +0000 Themis Qi Themis Qi HSBC CEO Georges Elhedery has vowed to continue investing in China amid escalating trade tensions after witnessing new trade opportunities from Chinese companies going global. While attending the two-day China Development Forum (CDF) 2026 in Beijing on Sunday, Elhedery characterised China’s current trajectory as a “new phase of development” that would define the next era of global economic growth. Although 2025 saw steady growth in global trade, the landscape was complicated by shifting tariffs,... https://www.scmp.com/business/banking-finance/article/3347465/hsbc-vows-keep-investing-china-amid-global-tensions-new-trade-corridors-emerge?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3347465/hsbc-vows-keep-investing-china-amid-global-tensions-new-trade-corridors-emerge?utm_source=rss_feed Sun, 22 Mar 2026 06:27:09 +0000 Themis Qi Themis Qi Xiaomi’s updated SU7 electric vehicle (EV) is expected to bite into the market share of Tesla and some domestic rivals in China, as demand weakens and regulators tighten oversight. Founder and CEO Lei Jun on Thursday announced official pricing for the new-generation smart sedan, with the standard edition starting at 219,900 yuan (US$31,900) and the pro and max variants set at 249,900 yuan and 303,900 yuan, respectively. The figures are 10,000 yuan lower than pre-sale estimates, but 4,000 yuan... https://www.scmp.com/business/china-evs/article/3347259/xiaomis-new-generation-su7-launch-sparks-fresh-ev-fight-tesla-china?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3347259/xiaomis-new-generation-su7-launch-sparks-fresh-ev-fight-tesla-china?utm_source=rss_feed Fri, 20 Mar 2026 05:29:50 +0000 Themis Qi,Julie Zhang Themis Qi,Julie Zhang Chinese authorities have renewed their push for stricter oversight of the electric vehicle (EV) market, urging carmakers to move away from aggressive discounting and focus instead on technological innovation. The directive comes as domestic manufacturers struggle with cooling demand and the phasing out of long-standing government subsidies. At a high-level meeting on March 17, the Ministry of Industry and Information Technology, the National Development and Reform Commission and the State... https://www.scmp.com/business/china-business/article/3347145/china-presses-ev-makers-end-price-war-and-focus-innovation-demand-cools?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3347145/china-presses-ev-makers-end-price-war-and-focus-innovation-demand-cools?utm_source=rss_feed Thu, 19 Mar 2026 07:50:48 +0000 Themis Qi,Enoch Yiu Themis Qi,Enoch Yiu A memo circulating in mainland China’s financial community has raised concerns that Beijing plans to ban certain Chinese companies from listing in Hong Kong via a red-chip structure, with analysts fearing that this could create uncertainty for new listings in the city. According to a memo seen by the South China Morning Post, some red-chip companies – entities registered overseas but with assets and businesses within China – seeking regulatory approval for an initial public offering (IPO) in... https://www.scmp.com/business/banking-finance/article/3346903/chinas-tightened-listing-rules-some-red-chips-hong-kong-raise-concerns?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346903/chinas-tightened-listing-rules-some-red-chips-hong-kong-raise-concerns?utm_source=rss_feed Tue, 17 Mar 2026 11:10:08 +0000 Themis Qi Themis Qi SmartMore, the first company backed by the Hong Kong government’s investment fund, has applied for a listing, underscoring the city’s crowded pipeline of technology initial public offerings (IPOs). The unicorn, founded in 2019 and specialising in industrial artificial intelligence, submitted its application on Monday night, with Morgan Stanley, China International Capital Corporation and Deutsche Bank as joint sponsors. SmartMore provides intelligent manufacturing and digital innovation through... https://www.scmp.com/business/banking-finance/article/3346854/smartmore-first-firm-backed-hong-kong-wealth-fund-seeks-ipo-tech-pipeline-heats?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346854/smartmore-first-firm-backed-hong-kong-wealth-fund-seeks-ipo-tech-pipeline-heats?utm_source=rss_feed Tue, 17 Mar 2026 06:40:12 +0000 Themis Qi Themis Qi Chinese electric-vehicle (EV) maker Zhejiang Leapmotor Technology’s exports jumped nearly 400 per cent last year, thanks to its partnership with European giant Stellantis, according to a filing to the Hong Kong stock exchange on Monday. The Hangzhou-based carmaker said it exported 67,052 units in 2025, the most among emerging Chinese EV makers. Leapmotor exported 13,726 units in 2024. The surge in exports was largely attributed to Leapmotor’s joint venture with Stellantis formed in May 2024,... https://www.scmp.com/business/china-evs/article/3346786/leapmotors-stellantis-tie-pays-ev-exports-jump-nearly-400-last-year?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3346786/leapmotors-stellantis-tie-pays-ev-exports-jump-nearly-400-last-year?utm_source=rss_feed Mon, 16 Mar 2026 12:59:05 +0000 Themis Qi Themis Qi Tesla has emerged as a rare outlier in China’s slowing electric vehicle (EV) market, posting a massive sales surge in February even as domestic leaders like BYD grapple with double-digit declines. The US carmaker’s Shanghai Gigafactory delivered nearly 58,600 vehicles to Chinese buyers last month, up 91 per cent compared with the same period last year, according to data from automotive platform Dongchedi. Sales of Model Y stood at 41,404 units, while Model 3 accounted for 17,195 units. Starting... https://www.scmp.com/business/china-evs/article/3346435/teslas-91-february-sales-jump-china-defies-overall-market-slowdown?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3346435/teslas-91-february-sales-jump-china-defies-overall-market-slowdown?utm_source=rss_feed Fri, 13 Mar 2026 03:32:25 +0000 Themis Qi,Julie Zhang Themis Qi,Julie Zhang Eli Lilly has pledged an additional US$3 billion investment in China over the next decade to strengthen its local supply chain and manufacturing capabilities, deepening the footprint of foreign pharmaceutical giants in the world’s second-largest healthcare market. The move would bring the total cumulative investment of Eli Lilly, the world’s largest pharmaceutical company by market capitalisation, in China to nearly US$6 billion, according to a statement released on its WeChat account on... https://www.scmp.com/business/banking-finance/article/3346260/eli-lilly-boosts-china-footprint-us3-billion-plan-expand-supply-chain?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346260/eli-lilly-boosts-china-footprint-us3-billion-plan-expand-supply-chain?utm_source=rss_feed Wed, 11 Mar 2026 13:39:53 +0000 Themis Qi Themis Qi Deutsche Bank is seeking to capitalise on wealthy investors across mainland China, Hong Kong, Taiwan and the Philippines who are looking to diversify away from US assets, as it pushes ahead with ambitious expansion plans in the region. Affluent investors from mainland China, Hong Kong, Taiwan and the Philippines – markets Deutsche Bank groups as “North Asia” – were becoming increasingly uneasy about their heavy exposure to US assets and were looking more closely at opportunities in Europe,... https://www.scmp.com/business/banking-finance/article/3346035/deutsche-bank-bets-hong-kong-wealth-boom-asian-billionaires-look-beyond-us-assets?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3346035/deutsche-bank-bets-hong-kong-wealth-boom-asian-billionaires-look-beyond-us-assets?utm_source=rss_feed Tue, 10 Mar 2026 23:30:08 +0000 Themis Qi Themis Qi Chinese electric vehicle (EV) maker Nio has forecast a surge of up to 97 per cent in first-quarter deliveries, underscoring the turnaround after posting its first-ever quarterly profit and defying a slowdown that has hit most of its domestic rivals. Nio, ranked the 15th bestselling Chinese EV maker last year, set a delivery guidance of 80,000 to 83,000 vehicles for the first quarter of 2026, representing a year-on-year surge of between 90 per cent and 97 per cent. The growth projection bucked... https://www.scmp.com/business/china-evs/article/3346142/chinese-ev-maker-nio-forecasts-surge-deliveries-after-first-quarterly-profit?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3346142/chinese-ev-maker-nio-forecasts-surge-deliveries-after-first-quarterly-profit?utm_source=rss_feed Tue, 10 Mar 2026 22:30:08 +0000 Themis Qi Themis Qi Contemporary Amperex Technology Ltd (CATL) reported a 42 per cent jump in net profit last year to 72.2 billion yuan (US$10.4 billion) on strong battery sales and an expansion into new energy storage scenarios. The Chinese battery giant’s sales volume of lithium-ion batteries – a key component for electric vehicles (EVs) – reached 661 gigawatt hours (GWh), up 39 per cent from the previous year, according to a filing released on the Shenzhen Stock Exchange on Monday night. China’s EV industry... https://www.scmp.com/business/climate-and-energy/article/3346013/chinas-catl-profit-surges-42-battery-sales-and-expansion-boost-global-lead?utm_source=rss_feed https://www.scmp.com/business/climate-and-energy/article/3346013/chinas-catl-profit-surges-42-battery-sales-and-expansion-boost-global-lead?utm_source=rss_feed Mon, 09 Mar 2026 14:01:09 +0000 Themis Qi Themis Qi Adrian Cheng Chi-kong, former heir apparent to Hong Kong property giant New World Development (NWD), plans to spend more time in mainland China and increase his tech investments this year, with a focus on a range of sectors from artificial intelligence to aerospace, echoing China’s latest five-year plan. “If our country can realise [the 15th five-year plan], we would be stable and secure, and our future will definitely be promising,” Cheng, who is a member of the Chinese People’s Political... https://www.scmp.com/business/money/markets-investing/article/3345918/hong-kong-tycoon-adrian-cheng-doubles-down-tech-step-chinas-5-year-plan?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/3345918/hong-kong-tycoon-adrian-cheng-doubles-down-tech-step-chinas-5-year-plan?utm_source=rss_feed Mon, 09 Mar 2026 06:12:38 +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 Iris Deng,Themis Qi Iris Deng,Themis Qi Leading Chinese electric vehicle (EV) manufacturer BYD has unveiled a new-generation battery featuring charging speeds that the company says can rival a refill at a petrol station. BYD’s Blade Battery 2.0, launched on Thursday, can be charged from 10 per cent to 70 per cent in five minutes, and to 97 per cent in nine minutes, which the company said was the world’s fastest charging speed for a mass-manufactured unit. Even in extreme weather, with temperatures as low as minus 30 degrees Celsius... https://www.scmp.com/tech/article/3345652/chinas-byd-looks-make-electric-vehicle-charging-fast-filling-petrol?utm_source=rss_feed https://www.scmp.com/tech/article/3345652/chinas-byd-looks-make-electric-vehicle-charging-fast-filling-petrol?utm_source=rss_feed Fri, 06 Mar 2026 03:15:28 +0000 Yulu Ao,Themis Qi Yulu Ao,Themis Qi Hong Kong can reinforce its role as an international financial centre by deepening integration with mainland capital markets and expanding cross-border investment channels, financial industry leaders said on Thursday during China’s annual “two sessions”. Stronger collaboration between Hong Kong and mainland exchanges would enhance the resilience of the mainland’s financial system while supporting the internationalisation of the yuan, said Tan Yueheng, permanent honorary president of the Chinese... https://www.scmp.com/business/china-business/article/3345601/lean-harder-hong-kong-mainland-china-market-ties-two-sessions-delegates-urge?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3345601/lean-harder-hong-kong-mainland-china-market-ties-two-sessions-delegates-urge?utm_source=rss_feed Thu, 05 Mar 2026 23:30:07 +0000 Themis Qi Themis Qi The capital market is likely to be a battleground between traditional businesses and artificial intelligence start-ups, as tech investors expect both to survive AI-driven disruption through mergers and acquisitions (M&As). The outlook follows the launch of new agentic products by start-ups like Anthropic, which pushed investors to view AI as a potential replacement for the business models of established industry leaders, triggering an “AI scare trade” in January in listed software, wealth... https://www.scmp.com/business/banking-finance/article/3345226/how-ai-scare-trade-sparking-ma-battles-traditional-firms-and-start-ups?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3345226/how-ai-scare-trade-sparking-ma-battles-traditional-firms-and-start-ups?utm_source=rss_feed Tue, 03 Mar 2026 05:39:53 +0000 Themis Qi,Zhu Wenqian Themis Qi,Zhu Wenqian The head of Chinese electric vehicle (EV) maker Xpeng said the country should accelerate the development of autonomous driving technology amid slowing sales growth in the sector. He Xiaopeng, founder and CEO of the Guangzhou-based company, said on Monday that the country should skip an intermediate step and move directly to a more advanced version of autonomous capabilities, adding that Beijing should adjust regulations and policies faster to make this happen. He said he would submit this... https://www.scmp.com/business/china-evs/article/3345163/why-wait-china-should-skip-step-self-driving-cars-xpeng-founder-and-ceo-says?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3345163/why-wait-china-should-skip-step-self-driving-cars-xpeng-founder-and-ceo-says?utm_source=rss_feed Mon, 02 Mar 2026 11:33:07 +0000 Themis Qi Themis Qi Ahead of China’s annual legislative meetings – typically a window into Beijing’s top-level policy agenda – this is the fifth 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. Chinese government and industry officials are likely to discuss plans to control domestic electric-vehicle (EV) makers’ output, while encouraging them to prioritise... https://www.scmp.com/business/china-evs/article/3344899/top-chinese-officials-industry-leaders-may-discuss-capping-ev-output-two-sessions?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3344899/top-chinese-officials-industry-leaders-may-discuss-capping-ev-output-two-sessions?utm_source=rss_feed Mon, 02 Mar 2026 08:00:08 +0000 Themis Qi Themis Qi During the Chinese New Year holiday, Katty Mao struggled to find buyers for 500 “investment-grade” copper bars she bought in January, when soaring gold and silver prices made the 1kg chunks of polished metal seem like a promising investment. “I know it was a bet,” said Mao, who paid 160 yuan (US$23) each for the bars. “But the fear of missing out outweighed [any concerns].” Over the past two weeks, the advice Mao heard most often was to sell her bars to a scrap-metal dealer. The resident of... https://www.scmp.com/business/commodities/article/3344636/chinas-copper-crash-bars-fall-investment-fad-scrap-month?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3344636/chinas-copper-crash-bars-fall-investment-fad-scrap-month?utm_source=rss_feed Thu, 26 Feb 2026 00:30:08 +0000 Themis Qi Themis Qi Amid intensifying competition among Chinese electric-vehicle (EV) makers last year, relatively inexpensive models from Geely Auto and Wuling Motor Holdings topped the sales chart, surpassing cars from BYD and Tesla. In 2025, Geely sold more than 459,000 units of the Xingyuan EV – priced between 68,800 yuan (US$9,960) and 98,800 yuan – versus 52,570 a year earlier, according to a list of the top-selling battery EV models on the mainland compiled by a unit under the state-owned China Automotive... https://www.scmp.com/business/china-evs/article/3344355/geely-and-wuling-dominate-china-ev-sales-surpassing-tesla-and-byd?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3344355/geely-and-wuling-dominate-china-ev-sales-surpassing-tesla-and-byd?utm_source=rss_feed Mon, 23 Feb 2026 10:35:44 +0000 Themis Qi Themis Qi Hong Kong’s tech equity benchmark is struggling to balance the artificial intelligence frenzy and picking the right industry leaders, leading to its underperformance this year, according to analysts. The Hang Seng Tech Index, which comprises 30 technology-related companies including Tencent Holdings, Alibaba Group Holding and Meituan, has fallen 5.5 per cent this year up to Friday, giving up some of last year’s 23.5 per cent gains. In contrast, the broad-based Hang Seng Index has risen 0.3 per... https://www.scmp.com/business/markets/article/3344255/why-hang-seng-tech-index-doldrums-while-ai-shares-are-soaring?utm_source=rss_feed https://www.scmp.com/business/markets/article/3344255/why-hang-seng-tech-index-doldrums-while-ai-shares-are-soaring?utm_source=rss_feed Mon, 23 Feb 2026 01:15:07 +0000 Zhang Shidong,Themis Qi Zhang Shidong,Themis Qi Chinese stock investors have found a new favourite that could possibly take over the artificial intelligence trade, scooping up so-called rocket shares on bets that commercial aerospace will become the next battleground in the rivalry between Beijing and Washington. A gauge of commercial aerospace companies trading on the Shanghai and Shenzhen exchanges has risen about 10 per cent this year, adding to a 76 per cent increase in 2025, according to data from financial services provider Shanghai... https://www.scmp.com/business/china-business/article/3343815/ai-aerospace-china-meme-rocket-shares-take-race-us?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3343815/ai-aerospace-china-meme-rocket-shares-take-race-us?utm_source=rss_feed Sat, 21 Feb 2026 01:30:08 +0000 Themis Qi Themis Qi Gold’s volatile run is far from over, with the precious metal increasingly reasserting itself as an alternative form of “risk-free” money alongside the US dollar amid persistent inflation and geopolitical uncertainty, according to Jupiter Asset Management. With physical bullion in short supply, the firm sees mining companies as a more efficient way to gain exposure, offering potentially higher returns from smaller allocations thanks to strong profits and free cash flow. The outlook follows a... https://www.scmp.com/business/commodities/article/3343907/golds-volatile-run-set-continue-investors-eye-next-breakout?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3343907/golds-volatile-run-set-continue-investors-eye-next-breakout?utm_source=rss_feed Fri, 20 Feb 2026 01:30:15 +0000 Julie Zhang,Themis Qi Julie Zhang,Themis Qi Thousands of Chinese retail investors spent the last day of the Year of the Snake on Monday filing complaints against UBS SDIC Fund Management for an overnight valuation change that caused steep losses for holders of its silver fund, even after the firm offered remedies. More than 200,000 people lodged complaints against the operator of the country’s only silver fund after the controversial change on February 2, according to Xiaofei Bao, an online Chinese consumer protection platform. The switch... https://www.scmp.com/business/commodities/article/3343729/ubs-china-venture-faces-wrath-silver-investors-after-valuation-change-increases-losses?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3343729/ubs-china-venture-faces-wrath-silver-investors-after-valuation-change-increases-losses?utm_source=rss_feed Mon, 16 Feb 2026 08:00:07 +0000 Themis Qi Themis Qi The highest-paid independent non-executive director (INED) of a Hong Kong-listed company in 2024 made US$1.67 million, nearly 2,000 times what the lowest-paid INED received, drawing attention to a potential disconnect between pay and the responsibilities of the role. The lowest-paid INED received 6,000 yuan (US$867.94) in 2024, according to a survey by the Hong Kong Independent Non-Executive Director Association (HKINEDA), which was based on the 2024 annual reports of more than 2,600 listed... https://www.scmp.com/business/companies/article/3343485/why-its-troubling-hong-kong-board-member-pay-ranges-us850-us167-million?utm_source=rss_feed https://www.scmp.com/business/companies/article/3343485/why-its-troubling-hong-kong-board-member-pay-ranges-us850-us167-million?utm_source=rss_feed Sun, 15 Feb 2026 03:30:10 +0000 Themis Qi Themis Qi Around a decade ago, aboard a train winding through China’s landscape, Wang Ning, the founder and chairman of Beijing-founded international art toy brand Pop Mart, shared with designer Kenny Wong Shun-ming the story of his early attempts at entrepreneurship. As a fresh graduate, Wang struggled to sell affordable men’s suits sourced from Yiwu in Zhejiang province, eastern China, experimenting with small-scale arbitrage and learning first-hand how difficult it was to connect products with... https://www.scmp.com/business/companies/article/3343503/can-pop-mart-turn-viral-hits-lasting-icons-molly-and-labubu-offer-answer?utm_source=rss_feed https://www.scmp.com/business/companies/article/3343503/can-pop-mart-turn-viral-hits-lasting-icons-molly-and-labubu-offer-answer?utm_source=rss_feed Sat, 14 Feb 2026 02:00:13 +0000 Themis Qi,Daniel Ren Themis Qi,Daniel Ren China has banned carmakers from selling new vehicles for less than it costs to make them, including through discounts and subsidies, as regulators continue trying to smother a persistent price war that has sent hopes of profitability up in smoke for most producers. In “pricing guidance” released on Thursday, the State Administration for Market Regulation (SAMR) listed a series of tactics that would result in below-cost pricing for new vehicles, warning that carmakers using any of them would face... https://www.scmp.com/business/china-evs/article/3343429/beijing-warns-carmakers-stop-killing-your-profitability-hopes-selling-below-cost?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3343429/beijing-warns-carmakers-stop-killing-your-profitability-hopes-selling-below-cost?utm_source=rss_feed Fri, 13 Feb 2026 05:38:09 +0000 Themis Qi Themis Qi Hong Kong housed nearly 3,400 single-family offices by the end of last year, a 25 per cent rise in two years – contributing HK$12.6 billion (US$1.6 billion) annually to the economy – as the affluent refocused on the city amid US trade tensions and the rise of China’s tech sector, according to a report by Deloitte on Tuesday. The global auditing firm made the estimates after surveying 136 market participants across Hong Kong’s family office sector, including 85 single-family offices, whose wealth... https://www.scmp.com/business/banking-finance/article/3343031/hong-kong-family-offices-jump-25-wealthy-shift-focus-us-deloitte?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3343031/hong-kong-family-offices-jump-25-wealthy-shift-focus-us-deloitte?utm_source=rss_feed Tue, 10 Feb 2026 07:20:05 +0000 Themis Qi Themis Qi Chinese artificial intelligence system-on-chip (SoC) supplier Axera Semiconductor traded flat on its debut in Hong Kong on Tuesday, as market sentiment turned to favour profitable industry leaders. Shares of the Zhejiang province-based firm closed at HK$28.20, the same as the offer price, after briefly rising above HK$29 in morning trade. It ended the day with a market capitalisation of over HK$16.5 billion. The company issued 100 million shares, raising HK$2.96 billion (US$378.7 million). Axera... https://www.scmp.com/business/investor-relations/ipo-quote-profile/article/3342998/mainland-ai-chip-supplier-axera-trades-flat-hong-kong-debut-investor-frenzy-cools?utm_source=rss_feed https://www.scmp.com/business/investor-relations/ipo-quote-profile/article/3342998/mainland-ai-chip-supplier-axera-trades-flat-hong-kong-debut-investor-frenzy-cools?utm_source=rss_feed Tue, 10 Feb 2026 03:40:35 +0000 Themis Qi Themis Qi Contemporary Amperex Technology’s (CATL) new batteries are ready to be used in extreme cold areas like Antarctica, according to a top engineer, as the Chinese giant eyes untapped markets amid keen electric vehicle (EV) competition. CATL’s Naxtra sodium-ion battery, which will be applied in mass-produced passenger cars for the first time globally this year, is undergoing winter testing in vehicles in chilly Inner Mongolia, the firm and its partner China Changan Automobile Group announced last... https://www.scmp.com/business/china-evs/article/3342907/catls-new-innovation-expands-ev-battery-horizons-untapped-cold-regions?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3342907/catls-new-innovation-expands-ev-battery-horizons-untapped-cold-regions?utm_source=rss_feed Tue, 10 Feb 2026 00:30:12 +0000 Themis Qi Themis Qi Contemporary Amperex Technology (CATL) has deployed the world’s first sodium-ion batteries in passenger cars, as it aims to stay ahead in China’s fiercely competitive electric vehicle (EV) market amid price volatility in traditional lithium-ion batteries. The company’s new Naxtra battery will be installed in China Changan Automobile Group EVs this week for winter testing in the chilly Inner Mongolia autonomous region in the country’s north. “The breakthroughs in sodium-ion technology bring... https://www.scmp.com/business/china-evs/article/3342481/chinas-catl-tests-evs-and-lithiums-dominance-pioneering-sodium-ion-battery?utm_source=rss_feed https://www.scmp.com/business/china-evs/article/3342481/chinas-catl-tests-evs-and-lithiums-dominance-pioneering-sodium-ion-battery?utm_source=rss_feed Thu, 05 Feb 2026 07:00:37 +0000 Themis Qi Themis Qi Hong Kong’s banking regulator has unveiled four flagship projects, including a quantum computing readiness index, to help the city’s lenders stay competitive and secure in the artificial intelligence era. The Hong Kong Monetary Authority (HKMA) said the initiatives formed part of its new Fintech Promotion Blueprint, aimed at guiding responsible innovation and preparing the city’s banking sector for rapid technological change. The blueprint was announced on Tuesday in response to industry... https://www.scmp.com/business/banking-finance/article/3342268/hkma-launches-quantum-readiness-and-cybersecurity-projects-banks-ai-era?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3342268/hkma-launches-quantum-readiness-and-cybersecurity-projects-banks-ai-era?utm_source=rss_feed Tue, 03 Feb 2026 12:31:41 +0000 Themis Qi Themis Qi China’s energy-drinks giant Eastroc Beverage neither rose nor fell in its debut in Hong Kong on Tuesday amid investor caution following regulatory scrutiny of poor-quality listing applications. Shares of the Shenzhen-based company, which makes an alternative to Red Bull, opened at HK$248, matching the offer price. They ended the day 1.5 per cent higher at HK$251.80. Eastroc raised HK$10.14 billion (US$1.3 billion) by issuing 40.89 million shares, the largest initial public offering (IPO) in the... https://www.scmp.com/business/banking-finance/article/3342164/chinas-top-energy-drinks-maker-eastroc-matches-offer-price-hong-kong-debut?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3342164/chinas-top-energy-drinks-maker-eastroc-matches-offer-price-hong-kong-debut?utm_source=rss_feed Tue, 03 Feb 2026 01:37:55 +0000 Julie Zhang,Themis Qi Julie Zhang,Themis Qi Another gold fund in mainland China suspended new investments as precious metals extended a plunge on Monday, heightening dilemmas for investors. The Harvest Gold Securities Investment Fund, a listed open-ended fund (LOF) investing in gold-related products, said it would suspend new investments from Tuesday until further notice. The fund manager said it aimed to ensure stable operation and protect the interests of unit holders. On Wednesday, E Fund Management’s E Fund Gold Theme LOF also closed... https://www.scmp.com/business/banking-finance/article/3342079/gut-check-time-how-chinese-gold-and-silver-investors-assess-metals-volatility?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3342079/gut-check-time-how-chinese-gold-and-silver-investors-assess-metals-volatility?utm_source=rss_feed Mon, 02 Feb 2026 08:30:13 +0000 Enoch Yiu,Themis Qi Enoch Yiu,Themis Qi HSBC, Hong Kong’s largest bank with a 6.2 million-strong customer base, suffered a widespread system breakdown on Friday afternoon. According to some customers, the bank’s mobile app and online services were inactive as early as 1pm, with login attempts diverted to a screen stating the system was under maintenance and would be accessible at a later time. A staff member at the bank’s Mong Kok branch said HSBC’s citywide computer network had failed early Friday afternoon, but the employee did not... https://www.scmp.com/business/banking-finance/article/3341805/hsbc-suffers-system-shutdown-stopping-services-hong-kong?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3341805/hsbc-suffers-system-shutdown-stopping-services-hong-kong?utm_source=rss_feed Fri, 30 Jan 2026 07:13:47 +0000 Themis Qi Themis Qi China suspended trading of five commodity funds on Friday to curb investment mania in gold, silver and oil and reduce underlying risks amid geopolitical tensions. The only public fund investing in silver futures in mainland China, UBS SDIC Silver Futures Fund, a listed open-ended fund (LOF), will be suspended for the whole day on Friday, the second such halt since January 22. The trading halt also spread to oil LOFs, four of which were halted for an hour up to 10.30am on Friday. Before the... https://www.scmp.com/business/markets/article/3341783/china-halts-trading-5-silver-and-oil-funds-limit-risk-amid-volatility?utm_source=rss_feed https://www.scmp.com/business/markets/article/3341783/china-halts-trading-5-silver-and-oil-funds-limit-risk-amid-volatility?utm_source=rss_feed Fri, 30 Jan 2026 05:30:10 +0000 Themis Qi Themis Qi Pop Mart extended its rally in Hong Kong on Wednesday after unveiling an accelerated push into the US market, underscoring how overseas expansion is helping the Chinese toymaker offset lingering pressures at home. The maker of Labubu figurines plans to open more than 20 new stores across the United States this year, under a partnership with US mall operator Simon Property Group, which announced the roll-out in mid-January. The outlets will be located in major shopping centres including King of... https://www.scmp.com/business/china-business/article/3341552/pop-mart-rallies-hong-kong-aggressive-push-us-retail-market?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3341552/pop-mart-rallies-hong-kong-aggressive-push-us-retail-market?utm_source=rss_feed Wed, 28 Jan 2026 09:30:15 +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