71 m. ago China’s Geely hits the brakes on new plant construction globally: Li Shufu

Geely Auto, the mainland’s second-largest carmaker, will not build new plants amid excess capacity worldwide, a move that is likely to ripple across the sector as most Chinese companies are finding it difficult to make profits. Chairman Li Shufu told the Chongqing Auto Show over the weekend that the company would avoid building excess capacity and instead focus on improving its technological capabilities to become a key player in the future of mobility. “The global automotive industry is mired...

Events

2 h. ago Hong Kong can support taxi sector by using levies to create fund: Uber executive

Hong Kong’s taxi trade and ride-hailing services can work together on the same platform, Uber’s global head of public policy has said, while suggesting that authorities look at how other jurisdictions have adapted and used levies to set up a fund to support cabbies. In an interview with the Post, Andrew Byrne said that Hong Kong could learn from Australia’s use of a A$1.2 (78 US cents) levy, initially set at A$1, on ride-hailing and taxi services to compensate cabbies impacted by the...

Politics

3 h. ago China trade data for May misses expectations as export growth slows, imports dip

China’s export growth slowed last month amid lingering uncertainty over US tariffs, pointing to continued strain in the country’s manufacturing and trade sectors – and the slight uptick could also reflect front-loading by exporters anticipating future disruptions. China’s May exports were up by 4.8 per cent, year on year, to US$316.1 billion, customs data showed on Monday. The figure followed April’s 8.1 per cent growth and fell short of the estimate of a 6.28 per cent increase in a market...

Politics

3 h. ago US tariffs hit China’s exports in May, but June seen as ‘a better month’

China’s export growth slowed last month, weighed down by fewer US orders being made before the two countries came to a 90-day tariff truce. And while June’s prospects look poised to improve, China’s manufacturing and trade sectors remain under strain, according to economists, who also point to lingering uncertainties over American tariffs. China’s May exports were up by 4.8 per cent, year on year, to US$316.1 billion, customs data showed on Monday. The figure followed April’s 8.1 per cent growth...

Events

4 h. ago Hong Kong firms must consider national interests in commercial deals: John Lee

Hong Kong businesses must consider national interests while pursuing commercial deals, the city’s leader has said, arguing that the two are not mutually exclusive. In an interview with the Post as he marked three years in office, Chief Executive John Lee Ka-chiu stressed the importance of local companies keeping national interests in mind while seeking profits. Hong Kong tycoon Li Ka-shing’s CK Hutchison Holdings has recently drawn the ire of Beijing over a controversial deal to sell its...

Economics

6 h. ago Hong Kong’s stablecoin law opens floodgates for boom in digital assets: brokers

Hong Kong has surged ahead of its global rivals with its landmark stablecoin law, setting the stage for a boom in digital assets and an injection of fresh liquidity into the market, according to brokers. “We’re seeing a significant trend in investments related to stablecoins on our platform, which highlights the growing importance of this sector,” said Daniel Tse, managing director of Futu Securities International, Hong Kong’s largest online brokerage firm, in a written interview on...

Events

8 h. ago How BYD and Chinese peers are transforming Europe’s small EV market

Some of the world’s biggest carmakers are squaring off for a titanic battle over small cars in Europe, as native stalwarts like Volkswagen and Renault fight to maintain their hold on the market against an influx of cheap electric vehicles (EVs) from BYD and its Chinese peers. Last month, BYD, which surpassed Tesla last year as the world’s largest EV maker, launched its Dolphin Surf compact hatchback in Europe. The company’s most affordable model, known in China as the Seagull, is priced from...

Politics

8 h. ago Kenneth Rogoff and Yu Yongding on Trump, the dollar and the rise of the yuan

Welcome to Open Dialogue, a new series from the Post where we bring together leading voices to discuss the stories and subjects occupying international headlines. In this inaugural edition, we invited prominent economists from both sides of the Pacific to reflect on the recent turmoil in global trade, the diminishing role of the US dollar and whether China’s yuan could – or should – take its place. Professor Kenneth Rogoff of Harvard University has repeatedly warned the US dollar is approaching...

Politics

8 h. ago Is the US dollar’s decline inevitable? Kenneth Rogoff and Yu Yongding weigh in

Welcome to Open Dialogue, a new series from the Post where we bring together leading voices to discuss the stories and subjects occupying international headlines. In this inaugural edition, we invited prominent economists from both sides of the Pacific to reflect on the recent turmoil in global trade, the diminishing role of the US dollar and whether China’s yuan could – or should – take its place. Professor Kenneth Rogoff of Harvard University has repeatedly warned the US dollar is approaching...

Politics

14 h. ago Beijing academy introduces ‘RoboBrain’ AI model to power humanoid robots in China

Beijing academy introduces ‘RoboBrain’ AI model to power humanoid robots in China  Tech Edition

Politics

17 h. ago ‘Vicious circle’ for Hong Kong restaurants: how many more on chopping block?

Hong Kong’s restaurant industry faces a bleak second half of the year as both low-cost and high-end operators succumb to the economic slowdown, sector leaders have warned, putting part of the blame on the trend of residents heading across the border to spend. Industry representatives gave their grim assessment on Sunday, just days after King Parrot Group announced it would close nine of its eateries, ending a 33-year run. The move has reportedly left over 100 staff out of pocket to the tune of...

Politics

20 h. ago “All roads lead back to China,” declares Dealmed CEO Michael Einhorn of his multiyear supply

“All roads lead back to China,” declares Dealmed CEO Michael Einhorn of his multiyear supply-chain odyssey  Fortune

Economics

22 h. ago Hong Kong’s retail sector is struggling but people will have to adapt: John Lee

Hong Kong’s leader has conceded that the city has a problem with its sluggish retail scene amid a trend of locals spending their holidays across the border, but warned against using it as the sole yardstick in assessing the economy. Chief Executive John Lee Ka-chiu also called on businesses to “work harder” in light of the market changes and to reform to retain if not grow their slice of the cake. Hong Kong’s retail sales dropped for a 14th consecutive month in April, falling by 2.3 per cent,...

Politics

23 h. ago Pakistan’s animal army marches to markets for haggling at annual festival

Once a year, Pakistanis mobilise for an operation that is akin to a major battle taking place in terms of scale and blood being spilled. Much is at stake – at least financially – as veritable four-legged armies numbering hundreds of thousands march on Pakistan’s population centres from farmsteads around the country. For the livestock farmers leading the sieges, the deals cut at pop-up markets for sacrificial bulls, goats and sheep – along with the occasional camel – on the Muslim festival of Eid...

Politics

23 h. ago Remains of China's former senior military official Xu Qiliang cremated

Remains of China's former senior military official Xu Qiliang cremated  Global Times

Events

24 h. ago China signals readiness on rare earth talks, approves more exports

China has approved some qualified rare earth export applications and is ready to deepen dialogue with nations over export controls, the Ministry of Commerce said as the strategic resource continued to take centre stage in Beijing’s trade negotiations with the United States. “We’ve observed growing global demand for medium and heavy rare earths in civilian sectors such as robotics and new energy vehicles, as these industries continue to expand,” the ministry said in a statement posted on its...

Politics

24 h. ago Labubu craze sweeps globe, highlights power China, Asia stars have on consumer trends

Asian and Chinese stars are rewriting the fashion industry playbook, turning niche favourites into global must-haves. The Post explores how celebrity choices shape style and consumption while reflecting the values of today’s fans. Lisa Labubu At 28, Lisa of the South Korean girl band Blackpink has more than 100 million social media followers and more than 1.9 billion online streams for her solo debut Lalisa. In April 2024, the Thai star posted photos with a Labubu plush toy and a matching...

Politics

24 h. ago Labubu craze sweeps globe, highlights power of China, Asia stars have on consumer trends

Asian and Chinese stars are rewriting the fashion industry playbook, turning niche favourites into global must-haves. The Post explores how celebrity choices shape style and consumption while reflecting the values of today’s fans. Lisa Labubu At 28, Lisa of the South Korean girl group Blackpink has more than 100 million social media followers and over 1.9 billion online streams for her solo debut, Lalisa. In April last year, the Thai star posted photos with a Labubu plush toy and a matching...

Politics

25 h. ago How China’s diaspora became both an asset and a source of anxiety

Wang Gungwu – one of Asia’s most respected historians and a pioneering scholar of the Chinese diaspora – explores in Roads to Chinese Modernity: Civilisation and National Culture how China evolved into a modern nation navigating reform and globalisation. In this excerpt, Wang traces how, in the late 19th and early 20th centuries, reformers and revolutionaries such as Kang You-wei, Liang Qichao and Sun Yat-sen began rallying support from overseas Chinese communities. Once dismissed as disloyal...

Politics

25 h. ago A star is born as Hong Kong pianist wins Van Cliburn competition

Hong Kong pianist Aristo Sham Ching-tao has won the 2025 edition of the prestigious Van Cliburn International Piano Competition, putting him on track for global stardom. Sham, 29, is the first pianist from Hong Kong to win the competition, held in Fort Worth in the US state of Texas. The announcement on June 7 of his victory followed two-and-a-half weeks of intense anticipation as music lovers around the world followed live streams of the contest’s four gruelling rounds, which began on May 21...

Events