45 m. 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

13 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

17 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

17 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

20 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

20 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

22 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

31 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

35 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

36 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

37 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

38 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

41 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

56 h. ago Beijing auction house sells Labubu figurine at whopping ₹1.28 crore | World News

Beijing auction house sells Labubu figurine at whopping ₹1.28 crore | World News - Hindustan Times  Hindustan Times

Politics

60 h. ago National Games ticketing to start in August for Hong Kong, 3 months before event

Tickets for the National Games will be available in Hong Kong from August, three months ahead of the event, to synchronise with sales in Macau and on mainland China, the head of the local coordination office has said. Yeung Tak-keung, head of the National Games Coordination Office, said on Tuesday that the tickets would be sold on a unified platform to ensure easier management. “We are preparing to sell souvenirs from July, and in August, tickets will go on sale in the three places at the same...

Sport

60 h. ago A quantum leap: Chinese institute begins photonic chip production

An institute affiliated with Shanghai Jiao Tong University has commenced production of photonic chips, marking a milestone in China’s semiconductor sector and providing a boost to the country’s quantum computing capabilities in spite of increased US export controls. The Chip Hub for Integrated Photonics Xplore (CHIPX), located in Wuxi in eastern Jiangsu province, now produces 6-inch thin-film lithium niobate photonic chip wafers, according to local authorities. The development underscores...

Politics

61 h. ago Hong Kong football fans flock to Kai Tak Sports Park for historic India match

Hundreds of eager Hong Kong football fans flocked to Kai Tak Sports Park hours before the historic and sell-out AFC Asian Cup qualifier against India on Tuesday evening. Tickets for the highly anticipated first match at the new 50,000-seat stadium were sold out well ahead of time, with fans spotted queuing up at Kai Tak Mall for jerseys and official merchandise. The match, which kicks off at 8pm, will mark the first time the Hong Kong team has played an international match at its new home ground...

Sport

62 h. ago TikTok adds 500 UK jobs in expansion as US fate remains uncertain

TikTok, the short video app owned by Beijing-based ByteDance, is expanding in the United Kingdom, adding a new office and more than 500 jobs, while its fate in the US remains uncertain as a June 19 sell-or-ban deadline approaches. The new 135,000 sq ft office in Barbican, London, is set to open early next year, according to a statement published on TikTok’s website on Monday. The additional jobs will grow its UK workforce to 3,000 this year, the company said. In addition to its existing 88,500...

Politics

66 h. ago Price wars grip China as deflation deepens, $30 for a luxury Coach bag?

Price wars grip China as deflation deepens, $30 for a luxury Coach bag?  Reuters

Economics

66 h. ago Malaysia’s new luxury tax a hard sell for Anwar as popularity wanes

Many Malaysians may find life’s little indulgences suddenly beyond their reach from next month, when fresh taxes bite on premium goods and services like salmon and silk – and even haircuts – after the cash-strapped government said it would raise revenue from so-called luxury spending. Taxes of between 5 and 10 per cent will be imposed on “discretionary and non-essential goods” as well as financial and beauty services and private education from July 1, the Finance Ministry said in a statement...

Events