8 h. ago Pandas give Hong Kong’s Ocean Park boost but deficit worsens to HK$275 million

The fervour for giant pandas and their cubs in Hong Kong brought in more visitors and revenue to Ocean Park, their home, but other expenses ate into its financial health and worsened its deficit last year. The theme park’s deficit widened to HK$274.7 million (US$31.8 million) in the 12 months to June 30 from HK$71.6 million in the same period a year earlier, due to higher expenses such as depreciation, at HK$414 million, according to a document it submitted to the Legislative Council on...

Economics

37 h. ago China AI plan offers hope for robot companions and kids by 2035

When the Chinese government launched the “AI+” initiative in August, it was widely perceived as a new economic stimulus. However, observers may have underestimated Beijing’s true ambition. On October 10, senior officials and experts published a series of analyses in the official journal E-Government, offering the public its first comprehensive look at the initiative’s deeper strategic intent. Far from being merely an economic policy, “AI+” is a decade-long national blueprint designed to propel...

Politics

38 h. ago Soybean prices climb on strong domestic demand, China trade hopes

Soybean prices climb on strong domestic demand, China trade hopes  Brownfield Ag News

Politics

3 d. ago Meet AMIES, China's new hope in breaking reliance on ASML's chipmaking machines

Meet AMIES, China's new hope in breaking reliance on ASML's chipmaking machines  Yahoo Finance

Politics

3 d. ago China’s new hope in breaking reliance on foreign chipmaking machines

AMIES Technology, a new Chinese lithography equipment manufacturer that showcased its latest chipmaking products at an industry event in Shenzhen last week, is offering renewed optimism in the nation’s drive to reduce its dependence on Dutch giant ASML. The company presented a wide range of products – including compound-semiconductor lithography machines, laser-annealing systems, advanced inspection tools and solutions for packaging and wafer bonding – at the WeSemiBay Semiconductor Ecosystem...

Politics

4 d. ago Chinese boy rolls across newlyweds’ bed while chanting on wedding day

At some Chinese weddings, a little boy is invited to roll across the wedding bed while chanting blessings, praying for the couple to have children and enjoy prosperity. Known as gun chuang or “rolling the bed”, this centuries-old tradition originated in northern China but has since spread nationwide. In ancient China, when populations were small and productivity low, families desperately hoped for a male heir to help with agricultural work. Legend tells of a woman from the Zhao family who,...

Politics

4 d. ago Why Chinese boy rolls across newlyweds’ bed while chanting on wedding day

At some Chinese weddings, a little boy is invited to roll across the wedding bed while chanting blessings, praying for the couple to have children and enjoy prosperity. Known as gun chuang or “rolling the bed”, this centuries-old tradition originated in northern China but has since spread nationwide. In ancient China, when populations were small and productivity low, families desperately hoped for a male heir to help with agricultural work. Legend tells of a woman from the Zhao family who,...

Politics

4 d. ago IMF chief hopes for easing of US, China tensions to avoid hit to global economy

IMF chief hopes for easing of US, China tensions to avoid hit to global economy  Reuters

Events

5 d. ago Why NASA’s hopes of returning to the moon before China gets there hinge on SpaceX

Why NASA’s hopes of returning to the moon before China gets there hinge on SpaceX  NBC News

Technology

5 d. ago Nvidia chief holds onto hope as China market share disappears

Nvidia founder and CEO Jensen Huang said the company’s position in China has dropped from 95 per cent of the advanced chip market to zero, as the US semiconductor giant is not allowed to sell its advanced products to mainland companies under US export restrictions. “Hopefully, we will continue to explain and inform and hold on to hope for a change in policy”, he said at a Citadel Securities event in New York on October 6. A video of the interview was published on Wednesday. “At the moment, we’re...

Events

5 d. ago MP Materials Stock Rises as Bessent Gives Hope on China Trade and Rare Earths

MP Materials Stock Rises as Bessent Gives Hope on China Trade and Rare Earths  Barron's

Politics

6 d. ago Japan’s market boom to continue despite political uncertainty: Fidelity

Japan’s stock market is expected to extend its rally if the next government continues efforts to boost economic growth and prevent the country from returning to deflation, investment managers at Fidelity International said on Thursday. The benchmark Nikkei 225 index reached a record high of 48,580.44 on October 9, surpassing the 1989 Japanese economic bubble-era peak, as political parties vied for influence ahead of a parliamentary vote next week to elect the country’s next leader. Whether the...

Politics

6 d. ago Stock market today: Dow, S&P 500, Nasdaq climb as strong bank earnings, rate

Stock market today: Dow, S&P 500, Nasdaq climb as strong bank earnings, rate-cut hopes soothe US-China jitters  Yahoo Finance

Economics

6 d. ago China’s top party journal urges action to boost confidence ahead of fourth plenum

China’s ruling Communist Party’s leading theoretical journal has urged authorities to better manage market expectations, improve policy predictability and pay closer attention to public sentiment – ahead of a closed-door meeting of senior officials to discuss the next five-year plan and as trade tensions with the United States mount. In a Wednesday article, Qiushi – a leading platform for disseminating official policies and ideas – called on policymakers to better time policy implementation,...

Politics

8 d. ago Hong Kong to review tourist capacity and marine protection amid coral damage

Hong Kong authorities will assess the capacity of some popular tourist hotspots and intensify efforts to educate visitors, aiming to balance environmental protection with tourism, following incidents of visitors trampling corals in a geopark during the “golden week” holiday. Chief Executive John Lee Ka-chiu revealed on Tuesday that his administration was conducting a study to include ecologically important sites within marine park protected areas for improved coastal conservation. Lee announced...

Events

8 d. ago Yuan boost eyed as Hong Kong’s mainland China spending hits HK$5 billion

Hong Kong’s government spent more than HK$5 billion (US$642.3 million) using the city’s currency on services or purchases related to mainland China in the last financial year, according to officials. In comparison, the government only used 240 million yuan (US$33.7 million) annually to settle expenditures, in addition to payments related to its renminbi-denominated bonds. Authorities are now exploring ways to increase payments in renminbi and expand its use. “Since the amount of renminbi bonds...

Economics

8 d. ago Wall Street rebounds and FTSE edges higher on hopes of easing US

Wall Street rebounds and FTSE edges higher on hopes of easing US-China trade tensions  Yahoo

Politics

8 d. ago China’s exports rebound, military mouthpiece’s PLA vow: 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. China’s exports defy expectations in September under weight of trade war uncertainty China’s exports rebounded in September after hitting a six-month low in August, supported by recovering overseas demand and front-loading ahead of the “super golden week” holiday – though the latest flare-up with the United States over the weekend has renewed uncertainty...

Events

9 d. ago China’s exports defy expectations in September under weight of trade war uncertainty

China’s exports rebounded in September after hitting a six-month low in August, supported by recovering overseas demand and front-loading ahead of the “super golden week” holiday – though the latest flare-up with the United States over the weekend has renewed uncertainty over the economic outlook. Outbound shipments rose 8.3 per cent year on year to US$328.6 billion last month, customs data showed on Monday. The figure was higher than August’s 4.4 per cent – which was the lowest growth since...

Events

9 d. ago Can a financial hub on Bali fix Indonesia’s lagging economy?

Indonesia is planning to create a financial hub in tourist hotspot Bali as it seeks to boost its lagging economy by attracting international banks, asset managers and private equity firms, according to people familiar with the matter. President Prabowo Subianto has endorsed his government’s proposal to model the tourist island after the likes of India’s Gujarat International Finance ­Tec-­City, also known as GIFT City, and the Dubai International Financial Centre, said the people who asked not...

Economics