7 h. ago Debt crunch at NWD stokes downside risk in Hong Kong home prices, S&P says

The liquidity crunch at New World Development (NWD), one of Hong Kong’s biggest developers, is a blemish on the resurgent housing market, threatening to shake confidence among homebuyers and trigger a “downside scenario” in home prices, according to S&P Global Ratings. The developer deferred coupon payments on four series of perpetual bonds after months of speculation about its finances, sending a poor signal to creditors about its default risk. It surprised investors last month by not redeeming...

Economics

8 h. ago DJI launches US$10,000 enterprise drone that can avoid power lines at night

DJI, the world’s biggest maker of consumer drones, this week launched a US$10,000 enterprise flagship model, the Matrice 400, with extended flight time and an obstacle-sensing system to avoid buildings, mountains and high-voltage power lines at night. The new enterprise drone offers a 59-minute flight time, a payload capacity of up to 6kg, and a powerful lidar and mmWave radar-based obstacle-sensing system that makes this a versatile drone for applications such as emergency air response, power...

Events

19 h. ago Chinese EV battery maker Eve Energy jumps on Hong Kong IPO bandwagon

Eve Energy, China’s fifth-largest producer of electric vehicle (EV) batteries, plans to raise fresh capital on the Hong Kong stock exchange, following the lead of its bigger rival Contemporary Amperex Technology (CATL) as international investors show a growing appetite for the country’s industrial gems. The Shenzhen-listed company said on Tuesday that its board had endorsed a fundraising plan aimed at bolstering its international expansion, but details about the share offering were still in the...

Science

58 h. ago Hibor plunge a bigger deal for stock market than Hong Kong’s property sector

Hong Kong needs all the help it can get. Since 2018, the city has suffered one shock after another, preventing a meaningful recovery from taking hold and fuelling concerns about its position as a global financial centre. As an importer of US monetary policy with an economy that is far more synchronised with that of mainland China, Hong Kong has been the biggest casualty of economic and policy divergence between the world’s two largest economies, prompting renewed questions about the suitability...

Economics

68 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

4 d. ago Step aside Shanghai, Hong Kong is China’s prize financial hub

When Yan Jun was looking around last year for a stock market to raise capital for his Beijing-based traffic-control software company, the engineer and chairman thought he was spoiled for choice. He could sell shares of his 10-year-old company AICT on one of the three mainland exchanges – Beijing, Shanghai and Shenzhen – that together make up the world’s second-biggest capital market, with a combined value of US$10 trillion, according to Bloomberg data. Or he could raise capital offshore by...

Politics

6 d. ago China’s ‘milestone’ engine, battery scientist leaves US: 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. Trump orders immediate ban on new Chinese and other foreign students at Harvard The administration of US President Donald Trump has formally barred Harvard University from enrolling international students, citing the institution’s failure to address national security risks on campus. 2. Russia moves again to join with China and India despite their trust...

Science

7 d. ago China's CATL to partner with Maersk unit to develop advanced battery products

China's CATL to partner with Maersk unit to develop advanced battery products  Reuters

Politics

7 d. ago How is China ramping up controls on critical mineral exports amid row with US?

Parts of China that are rich in critical minerals are stepping up enforcement of tighter export controls as the country doubles down on its dominance of world supplies in the face of increasing pressure from the United States. China, the world’s biggest producer of critical minerals, supplies 92 per cent of the refined rare earth elements that are essential in the production of consumer electronics, electric vehicles and hi-tech defence systems. Its export controls mean companies must obtain...

Politics

8 d. ago Trade war risks could push global shippers to Asia’s arbitration hubs: analysts

The terms “United States exclusion clause” and “China risk clause” were frequently heard at a recent shipping forum hosted by Zhejiang Seaport Group in the eastern city of Ningbo, as uncertainties at sea persist despite the trade war truce reached between the world’s two biggest economies. The event brought together global logistics sector representatives and maritime law experts to consider new contract clauses, strategies and arbitration options, as stakeholders fear that a return of Donald...

Events

1 week ago China flight turns back after smoke found coming from camera battery, power bank

A China Southern Airlines flight from Hangzhou to Shenzhen was forced to return to the airport 15 minutes after take-off on Saturday after the crew found smoke coming from a passenger’s camera battery and power bank. According to a social media post by the airline, the camera batteries and power bank of a passenger on board flight CZ6850 started to produce smoke soon after taking off. “The crew handled it properly and quickly eliminated the safety risk. To ensure safety, the flight immediately...

Events

2 w. ago China’s driverless mining trucks, BYD outshines Tesla in Europe: 7 EV reads

We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. China deploys world’s biggest fleet of driverless mining trucks Chinese state-backed energy giant Huaneng Group on Thursday launched the world’s largest fleet of unmanned electric mining trucks in Inner Mongolia, featuring 100 vehicles equipped with Huawei Technologies’ autonomous...

Transport

2 w. ago Li Qiang’s Indonesia visit highlights rapid change in world order

The United States’ global tariff war has done no harm to trade and cooperation between other countries. It has prompted and energised them to nurture and develop their own relations. The uncertainty that has riled markets and troubled business has therefore had a silver lining. There is no better example in this part of the world than China – the world’s second-largest economy – and Indonesia, the biggest economy in Southeast Asia, which is also China’s biggest market. Premier Li Qiang has just...

Politics

2 w. ago China’s battery giants target EV and air taxi revolution with solid

China’s battery giants target EV and air taxi revolution with solid-state tech  Interesting Engineering

Events

2 w. ago BYD overtakes Tesla in Europe for the first time as battery EV sales jump 169% in April

Shenzhen-based BYD sold 7,231 battery electric vehicles in April versus 7,165 by Tesla, according to data from Jato Dynamics.

Politics

2 w. ago BYD overtakes Tesla in Europe for the first time as sales jump 169% in April

BYD sold more battery electric vehicles (BEVs) than market leader Tesla in Europe for the first time last month, as the Chinese carmaker continued to make inroads despite hefty tariffs on cars imported from the mainland. Shenzhen-based BYD, which also makes plug-in hybrids (PHEVs), sold 7,231 BEVs in April, a year-on-year increase of 169 per cent, according to data compiled by market research firm Jato Dynamics from 28 countries in Europe. Tesla’s sales fell 49 per cent to 7,165 units in the...

Politics

2 w. ago China’s Lithium City Is a Front Line of the Battery Trade War

China’s Lithium City Is a Front Line of the Battery Trade War  Bloomberg

Events

3 w. ago US Sets the Stage for Duties on Battery Materials From China

US Sets the Stage for Duties on Battery Materials From China  Bloomberg.com

Politics

3 w. ago Battery giant expects China truck market to be 50% electric by 2028

Battery giant expects China truck market to be 50% electric by 2028  Financial Times

Science

3 w. ago China's EV battery leader surges in world's biggest listing this year

China's EV battery leader surges in world's biggest listing this year  NBC News

Politics