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China
The latest news, analysis and opinion on China. In-depth analysis, industry insights and expert opinion.
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Beijing
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President Xi Jinping
Head of Government
General Secretary Xi Jinping
The DeepSeek paper triggered interest and debate among developers despite its dense technical details. Photo: Reuters
Artificial intelligence

DeepSeek proposes fundamental AI shift with ‘mHC’ architecture to upgrade ResNet

The paper comes at a time when most AI start-ups have been focusing on turning AI capabilities in LLMs into agents and other products.

Hong Kong economy

Hong Kong trade office head picked to lead body coordinating Northern Metropolis

Electric & new energy vehicles

China’s EV sector doubles down on discounts and cheap financing as growth cools

China consumption

China’s box office up 22% in 2025 to US$7.4 billion, led by smash hit Ne Zha 2

World’s second-largest movie market sees domestic films capture nearly 80 per cent of sales, while Disney’s Zootopia sequel sets new high for imported titles.

A display promoting the record-breaking animated hit Ne Zha 2 is seen in China’s Liaoning province on February 13. Photo: Xinhua
IPO

Biren surges, China military drills, CES technology show

This week: Biren Technology jumps on Hong Kong debut, PLA holds drills off Taiwan and factory activity returns to expansion. Next week: Chinese tech firms at CES, December CPI release, HSBC-Hang Seng Bank buyout vote, and more.

China’s navy

US Navy aircraft crashes offer lessons for PLA carrier operations, analysts say

Chinese military could learn from rival’s strengths in search and rescue response, but also its weaknesses in maintenance and training.

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IPO

Hong Kong’s IPO dominance in 2025 set to carry on into new year

The city’s exchange secures global bragging rights after 114 companies raised US$37.22 billion on the main board in 2025, according to LSEG.

Gong ceremonies for new listings on the Hong Kong stock exchange, such as this one on December 30, 2025, are expected to occur frequently in 2026. Photo: Sun Yeung
Hong Kong tourism

Hong Kong receives twice as many mainland Chinese visitors on New Year’s Day

Lawmaker attributes year-on-year jump to three-day holiday on mainland, while strained Beijing-Tokyo ties have also drawn some to city instead of Japan.

China inflation

China must take action to avoid Japan-style deflation spiral, scholars warn

Unless Beijing introduces more forceful policies, consumers could get locked into a mindset that is ‘nearly impossible to break’, scholars say.

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Hong Kong tourism

Exhibition on classic Hong Kong police films opens at old station

‘Yau Ma Tei Police Station: A Cinematic Journey’ pays tribute to hit movies such as Infernal Affairs and New Police Story at reopened venue.

Among the exhibition’s highlights is a replica of a detective’s office from the 1970s and 1980s. Photo: Dickson Lee
Science

Could 2,000-year-old machine from tomb in China be earliest binary computer?

Silk-weaving loom dating to Western Han is world’s oldest known ‘computer hardware’ with corresponding ‘software’, China science body says.

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The ancient Chinese loom may well be recognised as the world’s earliest computer, according to the China Association for Science and Technology. Photo: China Silk Museum
Hong Kong

Baidu spin-off Kunlunxin joins wave of Chinese semiconductor IPOs in Hong Kong

Last year, 20 Chinese semiconductor IPOs raised over 45 billion yuan (US$6.4 billion), with six of them listing in December.

SCMP Highlights

China’s record hypergravity machine, Nepal’s ‘bride buying’ probe: 7 highlights

From Beijing defending Taiwan drills to a Chinese snack stall drawing crowds of support, here are highlights from SCMP’s recent reporting.

US-China relations

In the new world order, market power trumps military might. Can China compete?

Changing metrics of competition are reshaping the international systems built around Western dominance, analysts say.

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Employees assemble an autonomous delivery vehicle on a factory production line for Chinese tech company Neolix in Yancheng, Jiangsu province. Tech innovation is a catalyst for global competition. Photo: AFP
Hong Kong stock market

Hong Kong stocks jump into 2026 with biggest surge since May

Investors expect Beijing’s ‘policy pivot’ to continue, with a focus on demand-side stimulus and stabilising the housing market, analyst says.

A view of Exchange Square in Central, where Hong Kong’s bourse operator is based, on December 30, 2025. Photo: Sun Yeung
Switzerland

Explainer | Swiss bar inferno joins long list of world’s worst club fires

A look at some of the worst fires in bars, nightclubs and music venues in past decades, where celebrations turned to tragedy in seconds.

Hong Kong economy

Could 2026 be the make-or-break year of CK Hutchison’s Panama ports deal?

What began as a strategic exit for a Hong Kong conglomerate has devolved into a high-stakes stand-off between Washington and Beijing.

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IPO

Shares in Chinese GPU start-up Biren soar in Hong Kong listing

Shares leap 82 per cent in debut after retail investors’ demand exceeds supply by 2,347 times.

Zhang Wen, chairman and CEO of Biren, bangs the gong at the company’s listing ceremony in Hong Kong on January 2, 2026, as HKEX CEO Bonnie Chan (left) and Financial Secretary Paul Chan (second from right) look on. Photo: Jonathan Wong
Hong Kong economy

Opinion | How Hong Kong can take on a more frontier role in China’s development

City can go beyond ‘superconnector’ role to be a ‘co-architect of rules’ and become more proactive in areas Beijing deems strategically critical.

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Mergers & Acquisitions

China’s M&A revival points to deeper investor confidence in growth prospects

Deal value is expected to rise, with strategic transactions and overseas ambitions driving momentum.

North Korea

Why North Korea’s Kim is hailing ‘invincible’ Russia ties in new year message

Kim praised North Korean troops fighting in the Ukraine war for their unwavering bravery for the sake of ‘the brotherly Russian people’.

North Korean leader Kim Jong-un waving during an art performance celebrating the new year at the May Day Stadium in Pyongyang, North Korea, on Thursday. Photo: EPA/KCNA
Hong Kong economy

Editorial | New strategy for the Northern Metropolis may be a game changer

The more agile corporate-led strategy, which balances government leadership with market mechanics, could be a blueprint for managing other projects.

The Hung Shui Kiu development area in the Northern Metropolis is seen on December 30, 2025. Photo: Sam Tsang
Taiwan

Just how close did a PLA drone come to the heart of Taipei during drill?

Footage shared by a mainland military social media account shows Taipei 101 but it’s not clear when it was taken.

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Hong Kong

Chinese and Asian suppliers in limbo over fashion chain Claire’s bankruptcy

Suppliers across Asia pursue legal action, but debt recovery prospects remain uncertain.

US-China relations

US urges Beijing to end military pressure against Taiwan

New Year’s Day message from the US State Department follows drill around island that saw over 30 warships deployed, according to Taipei.

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Warships are seen in Kaohsiung City, Taiwan, on Tuesday. Photo: ZUMA Press Wire via dpa
Investing

Opinion | Rising markets, falling interest rates and more: 5 investment myths for 2026

Investors must be careful in following conventional wisdom this year as several seemingly sure bets might be anything but.

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A pedestrian walks past a stock market indicator board on the final trading day of the year in Tokyo on December 30. Notable outperformers for 2025 included the Nasdaq, Japan’s Nikkei 225, Hong Kong’s Hang Seng Index and South Korea’s semiconductor-rich Kospi. Photo: EPA
US-China relations

US sanctions Chinese companies and tankers with Venezuela links

The move could be a signal to Beijing to steer clear of the stand-off between the Trump administration and the Maduro government.

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China’s Ukraine war role, EU vs Shein and Temu: 7 global relations reads

From a ‘blindsided’ Dutch minister to Brussels’ China de-risking, here are highlights from the SCMP’s overseas correspondents in December 2025.

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