34 h. ago Ant Group pledges focus on tokenisation, not cryptocurrency ‘hype’

Ant Group has distanced itself from the business of issuing cryptocurrencies, pledging to focus on tokenisation to support the “real economy”, as the Chinese fintech giant strives to maintain a delicate balance between technological advancement and regulatory compliance. “Ant Group will not issue cryptocurrencies, nor participate in any form of the hype,” CEO Cyril Han Xinyi said during the Inclusion Conference on the Bund in Shanghai on Thursday. “Ant is focused on building technological...

Politics

63 h. ago BYD Executives’ India Visit: Chinese EV Giant Plans to Gain from Better Delhi

BYD Executives’ India Visit: Chinese EV Giant Plans to Gain from Better Delhi-Beijing Ties  outlookbusiness.com

Politics

4 d. ago China fines Dior, Beijing’s green tech revolution: SCMP daily highlights

Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. Dior fined in China for sending data overseas without security screening Chinese police have fined fashion giant Dior’s Shanghai subsidiary after finding the company guilty of transmitting data overseas without security screening, according to state media. 2. More factories but less pollution: how China’s green tech revolution works From electric vehicles...

Politics

4 d. ago Baidu issues US$618 million dim sum bond amid tough competition

Chinese search engine giant Baidu will issue a 4.4 billion yuan (US$618 million) dim sum bond aimed at securing lower financing costs and operational flexibility amid an aggressive artificial intelligence expansion. The bond carries an annual coupon of 1.9 per cent and will mature in 2029. Baidu priced the bond on Tuesday, with the offering expected to close on or about September 15, 2029. It is the second dim sum bond – denominated in yuan and issued outside mainland China – that the company...

Economics

4 d. ago Dior fined in China for sending data overseas without security screening

Chinese police have fined fashion giant Dior’s Shanghai subsidiary after finding the company guilty of transmitting data overseas without security screening, according to state media. Citing the National Cybersecurity Notification Centre, state news agency Xinhua reported on Tuesday that the investigation followed media reports of a data breach at the French fashion brand, while users in mainland China received alert text messages from Dior. The cyber police said their findings indicated...

Events

5 d. ago China's BYD to produce all EVs for Europe locally by 2028, executive says

China's BYD to produce all EVs for Europe locally by 2028, executive says  Reuters

Politics

5 d. ago Chinese agency assigns AAA rating to Russian energy giant Gazprom

Chinese agency assigns AAA rating to Russian energy giant Gazprom  Reuters

Politics

1 week ago Chinese delivery giant Meituan releases AI model to take on Alibaba, DeepSeek

On-demand local services giant Meituan has become the latest Chinese Big Tech company to release an open-source large language model (LLM) to market, more than two years after it acquired mainland AI start-up Light Year for US$281 million. Beijing-based Meituan, the long-standing leader of China’s food delivery market, on Monday released and open-sourced its own LLM, called LongCat-Flash-Chat, via artificial intelligence developer platforms Hugging Face and GitHub, as well as the model’s...

Politics

1 week ago India signals no oil import cut from Russia, ‘eagerly’ awaits Putin visit

Indian Prime Minister Narendra Modi told Russian President Vladimir Putin on Monday that the two countries should deepen cooperation “in all sectors”. The remark was a strong indication that New Delhi would not cut back on crude oil imports from Russia despite pressure from the US. Modi also expressed strong enthusiasm for welcoming Putin to India, in a subtle rebuke of US President Donald Trump. As they met on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Tianjin, Modi...

Politics

1 week ago Chip designer Cambricon stays in the spotlight amid market potential

Shares of Cambricon Technologies on Monday closed lower on the Shanghai Stock Exchange after a representative of Alibaba Group Holding denied speculation that it had ordered 150,000 graphics processing units (GPUs) from the Beijing-based AI chip designer. According to the representative, the platform of Alibaba Cloud – the artificial intelligence and cloud computing services unit of e-commerce giant Alibaba – was powered by multiple Chinese-designed GPUs. Alibaba owns the South China Morning...

Politics

1 week ago South Korea’s Samsung, SK Hynix stocks sag after US revokes China chip permits

Shares of Samsung Electronics and SK Hynix slid on Monday after the Trump administration decided to make it harder for the world’s largest memory chipmakers to ship critical equipment to their giant Chinese operations. The surprise ruling deals a potential blow to their production in the world’s largest semiconductor market. While both South Korean companies have memory plants in their home market, China accounts for a major slice of their global output. Samsung sank more than 2 per cent, while...

Politics

1 week ago PM Modi China Visit LIVE: India committed to taking ties forward based on trust, respect, PM tells Xi

PM Modi China Visit LIVE: India committed to taking ties forward based on trust, respect, PM tells Xi  India Today

Events

2 w. ago JD’s property arm joins 2 firms in US$1 billion Singapore Reit: sources

The property investment arm of Chinese e-commerce giant JD.com and two other firms plan to launch a Singapore-based real estate investment trust (Reit) with assets potentially valued at more than US$1 billion, said two sources with knowledge of the matter. JD Property, the unlisted infrastructure investment and asset management platform of JD.com, is setting up the Reit with Swiss investment firm Partners Group and EZA Hill Property, which is backed by Asian investment firm Hillhouse, the...

Economics

2 w. ago Meituan sales weaken, profit plummets amid ‘irrational’ delivery price war

Chinese on-demand local services giant Meituan saw second-quarter earnings fall, as it faced off against Alibaba Group Holding and JD.com in a costly instant delivery price war. Beijing-based Meituan on Wednesday reported weaker-than-expected revenue of 91.8 billion yuan (US$12.8 billion) in the quarter ended June 30. That was up 11.7 per cent from 82.2 billion yuan a year earlier, but fell short of the 93.7 billion yuan estimate by analysts. Net profit for the period tumbled 96.8 per cent to...

Economics

2 w. ago Hong Kong’s MTR Corp files police report over counterfeit brick scandal

The MTR Corporation has filed a police report over a counterfeit brick scandal involving one of its construction sites after it failed to resolve concerns about the authenticity of materials and documentation supplied by a subcontractor. The rail giant made the move on Wednesday after the sole licensed mainland Chinese manufacturer of a German-owned brick brand said it had taken legal action over alleged falsification of authorisation documents and test reports two months ago, before imitation...

Events

2 w. ago Trump warns Beijing of 200% tariff on magnets ahead of expected China visit

Trump warns Beijing of 200% tariff on magnets ahead of expected China visit  India Today

Events

2 w. ago Huawei restructures cloud unit to sharpen focus on AI amid tech war

Huawei Technologies has begun a major restructuring of its cloud computing unit as the Chinese tech giant sharpens its focus on artificial intelligence amid the Sino-US tech war, according to sources and Chinese media reports. The subsidiary – responsible for AI model development, cloud services and data centre solutions – kicked off the restructuring on Friday, merging several key departments to prioritise AI-related business, according to two employees involved, who requested anonymity because...

Events

2 w. ago Evergrande: Chinese property giant delisted after spectacular fall

Evergrande: Chinese property giant delisted after spectacular fall  BBC

Politics

2 w. ago Evergrande: Chinese property giant to be delisted after spectacular fall

Evergrande: Chinese property giant to be delisted after spectacular fall  BBC

Politics

2 w. ago Chinese property giant Evergrande to be delisted after spectacular fall

Chinese property giant Evergrande to be delisted after spectacular fall  BBC

Politics