38 m. ago Bull market in stocks fills Hong Kong’s coffers, plugs holes from property woes

Hong Kong’s stock market stamp duty income is filling the city’s financial coffers at the fastest pace since 2021, amid a bull run on the local bourse that has attracted scores of initial public offerings (IPOs) and fuelled frenzied trading. Duties from transactions and transfers rose to HK$29.69 billion (US$3.78 billion) in the first five months of 2025, according to calculations by the Post based on government data. Contributions from the stock market jumped 42.5 per cent to HK$52.17 billion...

Politics

5 h. ago Meta’s AI lab is stacked with Chinese talent, drawing attention back home

Meta Platforms’ announcement that several prominent Chinese names working in artificial intelligence (AI) would be joining the company has triggered an outpouring of admiration back home, as CEO Mark Zuckerberg races to fill his new Meta Superintelligence Labs (MSL) with top industry talent. Zuckerberg announced the formation of MSL in a memo on Monday, tasking it with developing Meta’s next-generation models, and emphasised the company’s vision of delivering “personal superintelligence”...

Politics

15 h. ago Apple’s China iPhone sales face headwinds in second half: Counterpoint

Demand for Apple’s iPhone in mainland China is expected to encounter headwinds in the second half of 2025, after sales of the device received a strong boost in recent months on the back of promotions in the world’s biggest smartphone market. In the second half, “iPhone sales in China will stumble amid weak consumer spending and an ageing iPhone 16 cycle, while tepid iPhone 17 upgrades won’t spark demand”, Counterpoint Research senior analyst Ivan Lam said on Thursday. He added that efforts by...

Politics

18 h. ago Alibaba leads US$14 million funding round in Chinese AI agent start

A Hangzhou-based artificial intelligence (AI) start-up specialising in enterprise AI agents has secured over 100 million yuan (US$14 million) from investors led by Alibaba Group Holding’s cloud unit, as Chinese companies strive to leverage the technology to raise business efficiency. BetterYeah AI, a prominent player in China’s enterprise AI sector founded by former Alibaba executives, said on Wednesday it had completed its latest financing round with contributions from Alibaba Cloud and venture...

Economics

19 h. ago Over 300 Chinese Workers Exit Foxconn’s India Plants: Is Beijing’s Tech Crackdown to Blame?

Over 300 Chinese Workers Exit Foxconn’s India Plants: Is Beijing’s Tech Crackdown to Blame?  outlookbusiness.com

Economics

20 h. ago ‘3 is better than 2’: Singapore, Malaysia eye Indonesia for investment zone

Singapore and Malaysia are in talks with Indonesia to expand the Johor-Singapore Special Economic Zone (JS-SEZ), according to Singapore’s Trade Minister Gan Kim Yong. The JS-SEZ was officially launched in January, with Malaysian Prime Minister Anwar Ibrahim and his Singaporean counterpart Lawrence Wong agreeing to develop various industries, including aerospace, medical devices, pharmaceuticals, chemicals and electronics in the 3,571 sq km (1,379 square mile) zone. During the 9th Asean...

Politics

21 h. ago China's tech giants lobby for offshore yuan stablecoin, sources say

China's tech giants lobby for offshore yuan stablecoin, sources say  Reuters

Politics

22 h. ago Chinese team creates blockchain tech to resist attacks from quantum computers

Chinese scientists have developed a new blockchain storage technology that they say can resist attacks from quantum computers. Blockchain technology – which provides a shared, decentralised digital ledger that stores tamper-proof records – has shown revolutionary potential in areas like financial services and supply chain management. Usually, blockchains use specialised encryption algorithms to verify each transaction, ensure the ledger’s security, and provide transparent access to...

Events

22 h. ago China's Shandong raises fuel oil import tax rebates for some refineries, sources say

China's Shandong raises fuel oil import tax rebates for some refineries, sources say  Reuters

Politics

24 h. ago Tech war: US lifts export control of chip design software to China

The US said on Thursday it had lifted export controls on certain chip design software to China, according to statements from Siemens, Synopsys and Cadence Design Systems. Three of the world’s largest electronic design automation (EDA) software developers have been informed by the US government that sales of their products to China would no longer require special approval, signalling a further easing of bilateral tensions. San Jose, California-based Cadence said in an email that the US Bureau of...

Events

24 h. ago Developing | Tech war: US lifts export control of chip design software to China

Developing | Tech war: US lifts export control of chip design software to China  South China Morning Post

Events

24 h. ago Sabah bribery scandal: Singapore firm comes under Malaysian scrutiny

Malaysia’s anti-corruption agency is now targeting a Singapore-registered mining company as part of its investigation into a bribery scandal in Sabah that has already seen two state lawmakers and a businessman charged in court on Monday. The case captured public attention after the businessman, Albert Tei Jiann Cheing, released covert videos showing state lawmakers engaged in bribe negotiations with him, implicating several prominent figures in Malaysia’s second-largest state. Despite claiming...

Politics

29 h. ago Mainland digital yuan partner signs deal to develop stablecoin tech in Hong Kong

A Beijing-based fintech services provider, which has provided billing systems for China’s digital yuan, has signed a strategic partnership with a Hong Kong firm to tap stablecoin and virtual asset business opportunities, in the latest sign of mainland interest in the city’s recent moves to license cryptocurrency issuers. Shenzhen-listed North King Information Technology said on Wednesday that it had struck a deal with Hong Kong-listed GoFintech Quantum Innovation to develop infrastructure to...

Politics

29 h. ago Mainland Chinese digital yuan partner to develop stablecoin tech in Hong Kong

A Beijing-based fintech services provider, which has provided billing systems for China’s digital yuan, has signed a strategic partnership with a Hong Kong firm to tap stablecoin and virtual asset business opportunities, in the latest sign of mainland interest in the city’s recent moves to license cryptocurrency issuers. Shenzhen-listed North King Information Technology said on Wednesday that it had struck a deal with Hong Kong-listed GoFintech Quantum Innovation to develop infrastructure to...

Politics

33 h. ago Chinese tech firms are gaining fast on Silicon Valley in AI race: report

Chinese tech firms are gaining fast on Silicon Valley in AI race: report  New York Post

Economics

38 h. ago China AI champion Baidu rolls out sweeping changes to online search platform

Baidu, one of China’s artificial intelligence (AI) champions, said it is using the technology to upgrade and make the most significant changes to the company’s core internet search service in a decade. Beijing-based Baidu has now enlarged the mobile app’s search bar and turned it into a “smart box” that supports long text input and handles more tasks than simple text-based queries and information retrieval, according to the company’s statement on Wednesday. This search box is capable of handling...

Politics

39 h. ago Mainland China chipmaking capacity to outstrip Taiwan by 2030: report

Mainland China is on track to surpass Taiwan in semiconductor foundry capacity by 2030, according to a report from Yole Group, underscoring Beijing’s progress in its push for chip self-sufficiency amid ongoing US tech restrictions. The mainland’s share of global foundry capacity is projected to reach 30 per cent by the end of the decade, up from 21 per cent in 2024, the French market research firm said. Taiwan is currently the market leader with a 23 per cent share last year, while mainland...

Politics

41 h. ago Alibaba’s US$7 billion subsidy deepens China’s instant shopping battle

Alibaba Group Holding’s instant commerce service announced on Wednesday a substantial subsidy programme totalling 50 billion yuan (US$7 billion) over the next 12 months for both consumers and merchants, intensifying the fierce competition in China’s on-demand delivery sector, where JD.com and Meituan are also major players. Consumers using Taobao’s in-app Shangou service, the instant commerce business of Alibaba, will enjoy significant incentives, including cash vouchers, free purchase coupons,...

Economics

42 h. ago Indonesia and Malaysia set model for dispute resolution with Ambalat pact

The decision by Indonesia and Malaysia to jointly develop the resource-rich Ambalat sea block signals a pragmatic step towards defusing a decades-old territorial stand-off, even as legal uncertainties over sovereignty remain unresolved. The agreement was announced last week during Malaysian Prime Minister Anwar Ibrahim’s visit to Indonesia, where he met with Indonesian President Prabowo Subianto to discuss maritime and land border disputes, investment, and regional conflicts, among...

Politics

44 h. ago Lafufu? Australian consumer watchdog warns of fake Labubu toys online

The soaring global popularity of Labubu has prompted Australia to sound a warning over knock-off monster toys flooding online platforms as scammers try to exploit the collectibles frenzy fuelled by social media and celebrity endorsements. The pointy-eared, sharp-toothed dolls – designed by Hong Kong artist Lung Ka-sing and sold by Beijing-based Pop Mart – have attained cult status, commanding eye-popping prices and sparking in-store chaos as fans from Sydney to Singapore and London line up for...

Events