8 h. ago Beijing CBD Forum: Chairman of Cedrus Group: China already a hotspot for foreign investment

Beijing CBD Forum: Chairman of Cedrus Group: China already a hotspot for foreign investment  news.cgtn.com

Politics

10 h. ago 2 owners of luxury homes in Hong Kong fined HK$110,000 over illegal structures

Two owners of luxury homes at Redhill Peninsula have been fined more than HK$110,000 (US$14,015) in total after admitting to carrying out unauthorised building works, the first convictions among 30 prosecutions taken against the landlords of the estate on Hong Kong Island where rampant illegal structures were found. A spokesman for the Buildings Department said on Friday evening the two owners pleaded guilty at Eastern Court to carrying out unauthorised building works on Thursday. They were...

Events

16 h. ago Indebted owner’s luxury property on The Peak on sale at 30% discount

Distressed sales in Hong Kong’s luxury property market persist, with a mansion on The Peak now listed at two-thirds the purchase price six years ago. The three-storey detached house in Twelve Peaks at 12 Mount Kellett Road, developed by Sun Hung Kai Properties, has been put up for sale for HK$330 million (US$42 million) by the creditor, according to Colliers, which has been appointed as the sole agent for the asset. Yip Yuen Sai bought the property for HK$450 million in 2019, according to the...

Economics

20 h. ago ‘I am numb’: Blackpink fans left devastated as Hong Kong concerts sell out fast

Tickets for K-pop sensation Blackpink’s concerts in Hong Kong sold out in a little more than an hour and a half of going on general sale, leaving many fans disappointed. A Post reporter visited the ticket booking platform Cityline when sales opened on Friday at 11am. However, by noon, the wait time on the loading page, of more than an hour, had not shortened, while only limited tickets remained. By around 12.40pm all tickets for the two scheduled shows at Kai Tak Stadium on January 24 and 25...

Politics

20 h. ago Veteran lawyer Moses Cheng picked to steer Hong Kong’s maritime hub push

Top government adviser and veteran lawyer Moses Cheng Mo-chi has been appointed to steer a high-level body established to develop Hong Kong’s status as an international maritime hub. Cheng’s appointment as the board chairman of the Hong Kong Maritime and Port Development Board (HKMPDB) was announced on Friday. The 74-year-old is a senior consultant at a law firm and a member of the Executive Council, the city’s top decision-making body. Discussing the selection, Secretary for Transport and...

Politics

20 h. ago As Chinese exporters explore home market, how are letters of credit helping?

After the United States imposed so-called reciprocal tariffs on imports from China in April, Beijing took steps to help Chinese exporters sell their products domestically. In addition to the staging of product promotion events across the country and the offering of fiscal and financial incentives, Beijing also encouraged the increased use of letters of credit (L/Cs) to help such businesses switch focus to the domestic market. What is a domestic letter of credit? A letter of credit, also known as...

Politics

26 h. ago Hong Kong’s gig economy workers want industry regulated. Can city deliver?

Hong Kong food delivery rider John Lam* cannot afford to make a single mistake while working. The 40-year-old takes extreme care while delivering orders on his motorcycle, knowing that if he has a work-related accident he will receive few employment benefits and minimal compensation. “I understand that being highly responsive to my phone can lead to more orders. But for safety reasons, I only handle my phone when my vehicle has completely stopped,” said Lam, who delivers food for the city’s two...

Economics

27 h. ago TikTok’s sister app Douyin courts merchants with lower deposit fees

TikTok owner ByteDance, whose Douyin short video app has emerged as a popular e-commerce shopping platform in China, will cut the guarantee deposit payable by merchants, in a move designed to keep existing sellers and lure new ones amid fierce competition. The deposit, held by the platform on behalf of sellers to cover potential costs such as refunds or penalties, would be capped at 5,000 yuan (US$695), a fraction of the previous maximum of 500,000 yuan. As a result, the deposit payable by...

Events

40 h. ago Hong Kong tobacco tycoon Charles Ho dies at 75 after lung cancer diagnosis

Hong Kong tobacco and media tycoon Charles Ho Tsu-kwok, formerly the chairman of the Sing Tao News Corporation, has died at the age of 75. He revealed in February that he had been diagnosed with lung cancer last year. Two sources confirmed his death on Thursday, but it was unclear when he died. Ho previously served as a standing committee member of China’s top political advisory body, the Chinese People’s Political Consultative Conference, and controlled the Sing Tao News Corp before he sold his...

Events

44 h. ago China’s photonic chip debut to power AI, 6G and quantum computing push

As China joins the international drive to mass produce high-performance photonic chips, an industry pioneer said the technical performance of its chips will position the country for major advances in artificial intelligence (AI), 6G and quantum computing. Shanghai Jiao Tong University Chip Hub for Integrated Photonics Xplore (CHIPX) announced on June 5 that it had begun producing 6-inch (15.2cm) wafers for thin-film lithium niobate (TFLN) photonic chips, which rely on light – or photons – rather...

Politics

44 h. ago China’s photonic chip debut to power AI, 6G and quantum computing push: expert

As China joins the international drive to mass produce high-performance photonic chips, an industry pioneer said the technical performance of its chips will position the country for major advances in artificial intelligence (AI), 6G and quantum computing. Shanghai Jiao Tong University Chip Hub for Integrated Photonics Xplore (CHIPX) announced on June 5 that it had begun producing 6-inch (15.2cm) wafers for thin-film lithium niobate (TFLN) photonic chips, which rely on light – or photons – rather...

Politics

47 h. ago Chery’s stock to debut in third quarter in carmaker’s Hong Kong IPO

Chery Automobile, China’s second-largest automobile maker by volume, is aiming to complete its initial public offering (IPO) in Hong Kong in the third quarter of this year, said its chairman. The company, based in Wuhu city in eastern China’s Anhui province, has filed its intention to list on the Hong Kong stock exchange and use the city as its springboard for venturing into the global market, said Yin Tongyue during the 2025 Automotive Expo in the city. “We hope to have more of our...

Politics

47 h. ago Chery to debut in third quarter as carmaker uses Hong Kong as a springboard

Chery Automobile, China’s second-largest carmaker by volume, is seeking to complete its Hong Kong initial public offering (IPO) in the third quarter of this year, its chairman said. At the 2025 International Automotive & Supply Chain Expo in Hong Kong on Thursday, Yin Tongyue said the company was seeking to use the city as a launching pad into the global market. Chery, based in Wuhu in eastern Anhui province, has filed its intention to list on the Hong Kong stock exchange. “We hope to have more...

Politics

49 h. ago China women pay US$14 to relax with charming men who take them on luxury car rides

Young women in southern China are spending 99 yuan (US$14) to relax with fit, handsome men who treat them to luxury car rides after work. According to the mainland media outlet Vista Hydrogen Business, a new trend called “city ride” is gaining traction in cities like Shanghai, Hangzhou, and Xiamen. This service features so-called “man bodhisattvas,” who provide companionship rides in expensive vehicles. These men are often affluent university students who use their families’ luxury cars during...

Economics

58 h. ago Struggling Hong Kong taxi driver ‘accidentally’ put into chokehold, inquest told

A Hong Kong police officer seen putting a taxi driver who later died into a chokehold has told an inquest that he came into contact with the man’s neck “accidentally” during a struggle. Constable Lam Wai-wing was part of a police team handling a report made by taxi driver Chan Fai-wong on November 11, 2012, and his subsequent arrest for assault. Lam told the Coroner’s Court on Wednesday that his initial attempt to move Chan into a police vehicle was unsuccessful, with surveillance footage...

Politics

62 h. ago Labubu sells for $150,000 in Beijing: How China's craze for the doll grows

Labubu sells for $150,000 in Beijing: How China's craze for the doll grows  Firstpost

Politics

64 h. ago China ‘respects Panama Canal neutrality’ amid warning over CK Hutchison deal

China’s foreign ministry has said it respects Panama’s sovereignty and recognises its canal as a neutral international waterway, after the head of the strategic channel warned that the CK Hutchison ports deal could jeopardise its impartiality. Panama Canal Authority administrator Ricaurte Vasquez said in an interview published on Tuesday that CK Hutchison Holdings’ US$23 billion deal to sell its overseas ports to a consortium led by US investment giant BlackRock and shipping firm MSC could...

Events

64 h. ago iFlytek says using local chips in AI models extends development time by 3 months

A senior Chinese tech executive admits that using mainland-produced semiconductors could delay the development of artificial intelligence (AI) models by three months, but insisted that his company would continue to use these chips and push improved processes. Liu Qingfeng, chairman and founder of Chinese voice recognition solution provider iFlytek, said that the extended AI model development process was due to the need for additional computing resources, compared with using Nvidia chips and...

Politics

65 h. ago From AI to chips: China courts private tech firms to help drive next 5

China has signalled growing support for the private sector, as the head of the government department that oversees economic reform sat down with representatives of the tech industry to gather input ahead of Beijing’s next five-year development blueprint, analysts said. Zheng Shanjie, chairman of the National Development and Reform Commission (NDRC), met leaders from five private enterprises to “gather opinions and suggestions for the scientific formulation of the ‘15th Five-Year Plan’, with a...

Economics

69 h. ago Game on for Hong Kong economy as Kai Tak Stadium proves to be a roaring success

Hong Kong should capitalise on the success of the Asian Cup qualifier at Kai Tak Stadium on Tuesday night by maximising the potential of the venue and engagement with business sectors to boost the economy, according to analysts. A total of 42,570 football fans witnessed Hong Kong’s 1-0 victory over India, packing the stands with a sea of red and roaring chants as the team hosted an international match for the first time at the new stadium. Vincent Cheng Wing-shun, vice-chairman of the major...

Sport