Shanghai
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Shanghai

Shanghai
Shanghai
With a population of more than 24 million, Shanghai, is a major centre for finance, business and economics, science and technology, and fashion, among other disciplines. It is home to the Port of Shanghai, the world’s busiest container port, and Shanghai Pudong International Airport, one of the world’s 10 busiest airports by passenger traffic.
Head of Government
Party Secretary of Shanghai Chen Jining
CXMT is China’s largest and the world’s fourth-largest DRAM manufacturer. Photo: Handout
Mainland China

China’s DRAM giant CXMT plans US$4.2 billion IPO on Shanghai’s Star Market

Listing aims to fund wafer expansion and DRAM upgrades as Beijing drives tech self-reliance.

China-South Korea relations

South Korea’s Lee Jae-myung to visit China on economic and nuclear mission

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IPO

China’s Zhipu AI launches US$560 million share sale amid heated IPO tech race

Food and Drinks

Yong Fu’s Ningbo cuisine evolution, from Shanghai tradition to Hong Kong fusion

The original Yong Fu’s sister branch uniquely adapts Ningbo cuisine, blending tradition with innovation to cater to regional tastes.

Dried abalone in golden premium chicken broth at Yong Fu, Hong Kong. Photo: Handout
IPO

Insilico Medicine leads 6 Hong Kong IPOs, capping banner fundraising year

Debutants raise total of US$899 million as exchange wraps up one of the most active months for IPOs since 2021.

China-Japan relations

How Takaichi’s Taiwan comments fuelled Beijing-Tokyo row with no end in sight

Dispute over Japanese Prime Minister Sanae Takaichi’s remarks on Taiwan could ultimately hinge on the US-China-Japan triangle, analysts say.

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China trade

China has logged a US$1 trillion trade surplus. Where is all that money going?

Trade surplus growth has not been matched in foreign exchange reserves – a gap analysts said can be explained by private sector outflows.

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China’s status as the world’s manufacturing leader has helped it record a record trade surplus in 2025. Photo: VCG via Getty Images
Robotics

Editorial | Keep humans in mind as China races ahead in robotics

The focus must be on finding a future where human creativity and robotic efficiency can work together rather than compete.

China’s C919 passenger plane

Soaring to the top: China appoints first female captain for C919 flights

Promotion of former Boeing 737 pilot Yu Yue, who holds a ‘zero error’ record, called an inspiration to women across the nation.

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China-South Korea relations

South Korean president set to visit China next month, with North Korea on agenda

Exchange of visits by two countries’ leaders within months underscores their commitment to deepening ties, analysts say.

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South Korean President Lee Jae-myung is expected to engage Beijing on security issues, including North Korea’s nuclear ambitions. Photo: Reuters
China's military weapons

Is China quietly preparing cargo ships to transform into military vessels?

Containers bear the words ‘plan for the maritime revival of the Chinese nation and the community of shared future for mankind in the ocean’.

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Images of a cargo ship in Shanghai carrying containerised vertical launchers, sensors and self defence systems have gone viral online. Photo: Wexin
Artificial intelligence

Shanghai to double down on open-source AI amid push for tech self-sufficiency

Shanghai is headquarters for AI model developers MiniMax and SenseTime, as well as AI chip developers such as Biren Technology and Enflame.

China stock market

Launch window opens for China’s space companies as LandSpace advances IPO

LandSpace has completed IPO tutoring with Chinese regulators, putting it a step closer to a Shanghai Star Market listing.

Hong Kong stock market

Firmer yuan fuels share gains on bets Beijing will tolerate appreciation

Chinese equities edged higher on Friday, led by BYD, after the offshore yuan climbed through 7 per dollar for the first time since 2024.

The offshore yuan climbed past the key 7-per-dollar level on Thursday for the first time since September 2024. Photo: Shutterstock
SCMP Highlights

China, Russia clash with US at UN; Taipei mayor visit: SCMP daily highlights

From Beijing accusing Washington of violating international law to a study on animal fats, here’s a round-up from today’s coverage.

Sun Lei, China’s deputy permanent representative to the UN, speaks during a Security Council briefing on threats to international peace and security in New York on Tuesday. Venezuela requested a Security Council meeting, citing escalating tensions resulting from “US aggression” against the country. Photo: EPA
Taiwan

Taipei mayor cuts Shanghai visit short to oversee security after mass stabbing

Chiang Wan-an has trimmed his visit to joint forum, one of only a few events attended by officials from Taiwan and mainland China.

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Hong Kong stock market

Hong Kong stocks rise as Wall Street rally boosts confidence in earnings growth

Investors shrug off weaker US Federal Reserve easing hopes and bet on resilient corporate profits into 2026.

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China-Japan relations

China CP comic fan event stripped of Japanese content, dozens of booths affected

Organisers of the weekend convention in Hangzhou did not name Japan directly in its pivot to a ‘Chinese style’ theme.

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The diplomatic row between China and Japan has spread to Chinese fans of Japanese content at a comic event. Photo: AFP
Banking & finance

Exclusive | Old lender, new twist: Shanghai Commercial Bank teams up with HashKey on card

The 75-year-old lender will work with the newly listed digital asset exchange to issue a co-branded Visa card for HashKey traders.

Hong Kong property

2 Deep Water Bay homes sold for US$283 million in biggest deal in years

The two three-storey units at 6 Deep Water Bay Road fetched HK$147,010 per square foot, the highest since HK$150,000 for a 2015 deal.

Science

Chinese researchers show how a word could let spies take control of a robot army

Demonstration at cybersecurity event highlights a flaw that could turn one robot into a ‘Trojan horse’ that can seize control of others.

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The team that identified the security flaw has urged manufacturers to establish their own security systems or seek external help. Photo: Xinhua
Banking & finance

Gold takes centre stage as Hong Kong builds commodities ecosystem

Hong Kong plans to build an international gold trading centre as part of a wider commodities hub push.

Gold bricks displayed at Hong Kong Gold Exchange Chinese New Year Opening Ceremony in Sheung Wan. Photo: Edmond So
China-Japan relations

China-Japan tension hits holiday travel as flights cancelled on 46 routes

All cancelled flights are operated by Chinese carriers and involve most of the country’s major airlines.

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IPO

Chinese GPU maker Biren kicks off bookbuilding for US$624 million Hong Kong IPO

The company, which is selling 247.7 million shares between HK$17 and HK$19.60 each, will become the first listing of 2026 on January 2.

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Electric & new energy vehicles

China’s approval for L3 self-driving cars to stimulate slowing mainland market

Chinese carmakers could sell about 270,000 semi-autonomous vehicles next year, representing 1 per cent of the total market, Daiwa says.

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Semi-autonomous cars with L3 technology are likely to spur sales on the mainland next year. Photo: Reuters
US-China relations

US-based scientist Valery Fokin wins Vyzov Prize, beating fierce Chinese rivals

USC chemistry professor is awarded one of Russia’s top science honours, topping competition from 40 countries.

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Valery Fokin has been awarded the Vyzov Prize for his discovery of a “molecular snap” reaction that has become a widely used tool across scientific disciplines and has enabled the creation of DNA imaging technologies, diagnostic methods and clinical drugs. Photo: Vyzov Foundation
China consumption

From taboo to trendy: China’s second-hand luxury market cashes in on resale boom

Driven by an uneven recovery and property crisis, value-conscious shoppers are powering a second-hand boom as platforms use tech to verify authenticity and overcome stigma.

Mobile gaming

China’s video game sales reach record amid overseas expansion, AI investment

In 2025, China is expected to surpass the US as the world’s largest gaming market, with revenue of US$53.2 billion, according to Newzoo.

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