4 d. ago New lending and repo plans accelerate the yuan’s challenge to the US dollar

When Hong Kong businessman Sunny Yip Yuk-chik heard about a new scheme that would make it easier and cheaper to borrow Chinese yuan, he immediately called his staff on the Chinese mainland with the news. Earlier this month, the Hong Kong Monetary Authority (HKMA) launched a 100 billion yuan (US$14 billion) Renminbi Business Facility (RBF) that would enable business owners like Yip to borrow yuan from Hong Kong banks for up to 12 months at the onshore yuan interest rate, easing trade...

Politics

5 d. ago Kidnapped, trapped, forced to scam: inside Cambodia’s Chinese

Rows of grey buildings with thick iron bars line the streets of Sihanoukville, about 250km (155 miles) southwest of Phnom Penh. Near the city’s Chinatown stands Cambodia’s largest so-called yuanqu – a slang term in Chinese criminal circles meaning “scam compound”, derived from yuanqu, or industrial estate. Inside these complexes, online crimes such as voice phishing and romance scams are part of daily life. Young people from South Korea and other countries are kidnapped or lured by Chinese-run...

Events

6 d. ago How China can position its K visa for success in race for global tech talent

Could China’s new K visa reshape the global competition for top talent? Beijing certainly aims to do just that. Officially rolled out this month, the visa is aimed at young foreign professionals in the science, technology, engineering and mathematics (STEM) fields. It targets graduates and professionals with at least a bachelor’s degree in STEM from recognised institutions or engaged in relevant education or research. Unlike other Chinese visas for employment or research, the K visa does not...

Politics

6 d. ago Opinion | How China can position its K visa for success in race for global tech talent

Opinion | How China can position its K visa for success in race for global tech talent  South China Morning Post

Politics

7 d. ago Hong Kong Disneyland seeks new head after Michael Moriarty assumes global role

The head of Hong Kong Disneyland Resort will assume a new global position as chief financial officer for the company’s experiences division, with a search now under way for his successor. Michael Moriarty has been appointed executive vice-president and chief financial officer for Disney Experiences, according to the company’s announcement on Tuesday. “We are thrilled that Michael Moriarty will become Disney Experiences’ next CFO and look forward to his continued leadership in this global role,”...

Politics

8 d. ago China thief steals US$53,000 from newlyweds after learning about pair online

A Chinese man was arrested for stealing 380,000 yuan (US$53,000) in wedding gift money from a household shortly after their wedding, which he discovered through social media posts about their celebrations. The man, identified by the surname Peng, was apprehended on October 2 at his home in Jiangxi province, eastern China. Peng targeted the victim, also surnamed Peng, after viewing videos of the wedding festivities. He used Douyin, the mainland version of TikTok, to find wedding posts nearby and...

Events

1 week ago Why Kenya’s swap of dollar loans for Chinese yuan offers more than debt relief

Kenya has converted its US dollar-denominated railway loans from China into the Chinese yuan, not only securing debt relief but also fitting into Beijing’s long-term goal of internationalising its currency. Analysts said the decision, announced by Kenya last week, paved the way for other debt-stressed African countries and could ultimately draw them closer to China. Kenyan Treasury Minister John Mbadi said on Tuesday that the country’s US$5 billion Chinese railway loans had been converted to...

Politics

2 w. ago China’s US$21 billion in gold ETFs shines amid metal’s continued rise

Chinese investors sitting on 150 billion yuan (US$21 billion) worth of gold exchange-traded funds (ETFs) are likely to enjoy an extended run of a world-beating rally in the metal’s price amid robust demand, according to Swiss banks Julius Baer and Lombard Odier. Even after gaining almost 50 per cent this year, gold prices were set to rise to US$4,000 an ounce in the next 12 months, Julius Baer said, while Lombard Odier said the precious metal would rise to US$3,900. JPMorgan Private Bank was...

Economics

3 w. ago Beijing taps Conflux Network to explore offshore yuan stablecoins

Conflux Network, which claims to be the only regulatory-compliant public blockchain operator in mainland China, has been allowed to experiment with offshore yuan stablecoins as Beijing seeks to secure a position in the new global financial order, according to its founder. Conflux had received a tacit green light from Chinese authorities to explore the development of offshore yuan stablecoins, and was aiming to have up to 300 million yuan (US$42.1 million) worth of tokens issued on its blockchain...

Politics

3 w. ago Beijing issues paper on Taiwan, rebukes West for ‘gross violation’ of global order

Beijing marked the anniversary of foundation of the People’s Republic by reasserting its position on Taiwan and describing attempts by the United States and other Western nations to expand Taiwan’s presence in international organisations as “a gross violation” of the global order. In issuing a position paper reaffirming support for United Nations General Assembly Resolution 2758 on Tuesday, Beijing’s foreign ministry criticised what it said was Washington’s history of obstructing Beijing’s...

Politics

3 w. ago Chinese yuan’s forex market share grows to 8.5% as global position firms: survey

The Chinese yuan’s share in global foreign exchange (forex) trading climbed to 8.5 per cent this year while maintaining its position as the world’s fifth-most traded currency, according to survey findings by the so-called central bank for central banks. The proportion, unveiled by the Bank for International Settlements (BIS) in its 2025 Triennial Central Bank Survey – launched in April, with the findings released on Tuesday – showed an increase from 7 per cent in the 2022 survey, with the yuan’s...

Economics

3 w. ago How Hong Kong’s role in China’s economic strategy may evolve in the next 5 years

As China drafts its 15th five-year plan – the next entry in a line of expansive blueprints that have set the tone for the country’s development over more than seven decades – we examine how these documents inform and reflect high-level policy priorities, what to expect in the coming iteration and how Hong Kong could strengthen its position as a “superconnector” linking the mainland with global markets. For more stories in this ongoing series, click here. In a LinkedIn post earlier this month,...

Economics

3 w. ago How Hong Kong’s role in Beijing’s economic strategy could evolve in the next 5 years

As China drafts its 15th five-year plan – the next entry in a line of expansive blueprints that have set the tone for the country’s development over more than seven decades – we examine how these documents inform and reflect high-level policy priorities, what to expect in the coming iteration and how Hong Kong could strengthen its position as a “superconnector” linking the mainland with global markets. For more stories in this ongoing series, click here. In a LinkedIn post earlier this month,...

Economics

3 w. ago How Hong Kong’s role in Beijing’s economic strategy could evolve in next 5 years

As China drafts its 15th five-year plan – the next entry in a line of expansive blueprints that have set the tone for the country’s development over more than seven decades – we examine how these documents inform and reflect high-level policy priorities, what to expect in the coming iteration and how Hong Kong could strengthen its position as a “superconnector” linking the mainland with global markets. For more stories in this ongoing series, click here. In a LinkedIn post earlier this month,...

Economics

last month Ascletis trial shows drug candidate ASC47 boosts semaglutide weight loss effect

Biotech firm Ascletis Pharma said ASC47, its muscle-preserving weight loss drug candidate, could boost the efficacy of the popular anti-obesity medication semaglutide by 56.2 per cent, as Chinese drug makers eye a growing share of this lucrative market. That finding came from a trial that Ascletis conducted in the US for 28 participants with obesity, which aimed to assess the drug candidate’s safety and ideal dose, according to the company’s statement on Monday. The treatment duration was four...

Events