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China Business

Use of open-source models like Moonshot AI's Kimi represents just 4 per cent of overall enterprise spending on AI. Photo: AFP
Artificial intelligence

China’s AI models, led by Kimi, rule open-source enterprise spending

Chinese systems account for 89 per cent of spending on open-source models, but the category is small compared with spending on proprietary models.

US-China relations

Could a paused US blacklist rule signal room for progress in China trade talks?

Semiconductors

China’s AI chipmakers report first profits, but will the trend continue?

Hong Kong Monetary Authority (HKMA)

Hong Kong’s Exchange Fund earnings tumble 74% as market volatility bites

US elections led to sharp market swings and Middle East war could make the final quarter more challenging, HKMA chief Eddie Yue says.

A woman walks past a money exchange shop in Central, Hong Kong. Photo: AP
A woman walks past a money exchange shop in Central, Hong Kong. Photo: AP
Hong Kong stock market

Tech stocks lead declines in Hong Kong, mainland China on US$2.3tr plunge in US

Hong Kong and Chinese mainland stocks take cues from US tech slide as optimism about Democratic sweep turns into AI slowdown jitters.

Elon Musk

As political bet fails, what happens now to Musk’s Tesla, SpaceX and China ties?

Billionaire may face congressional scrutiny over SpaceX’s government contracts and Tesla’s China links, analysts say.

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Huawei

No Intel, no Qualcomm: Huawei unveils its first ‘100% domestic’ desktop

Tech giant expands HarmonyOS beyond laptops and tablets as it accelerates efforts to replace US technology.

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Huawei has launched the Qinyun HM650 series desktop computers for enterprise and government users. Photo: handout
Huawei has launched the Qinyun HM650 series desktop computers for enterprise and government users. Photo: handout
Robotics

China blocks SoftBank’s US$5.4 billion takeover of ABB’s robotics division

Case marks second major deal blocked by China this year after Meta was ordered to unwind its acquisition of AI start-up Manus.

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Electric & new energy vehicles

China’s Yutong Bus expands overseas as new-energy bus exports surge

‘Overseas public transport demand is growing fast, and international buyers are seeking more premium electric buses,’ Asia-Pacific CEO says.

China’s private sector

Open Questions | China’s appliance queen on quest for greener cooling, growth overseas

Gree Electric Appliances’ Dong Mingzhu says ‘If making money is not your only purpose, you keep asking harder questions’.

Illustration; Lau Ka-kuen
China stock market

China stocks extend rebound on state support, US midterm results

Chinese equities rally as Beijing provides support and US election results signal potential end to funding for Iran conflict.

The closing index of the Chinese stock market on Wednesday. Photo Getty Images
The closing index of the Chinese stock market on Wednesday. Photo Getty Images
Wealth management

Why Hong Kong wealth managers want broader access to mainland China’s tech markets

Executives say expanded channels could strengthen wealth business and reinforce city’s role as gateway between mainland and global capital.

New World Development

Could Shanghai project smooth indebted New World’s path to cash?

With tenants like Hermes and Rolex moving in, K11 Elysea’s occupancy hits threshold for cash-raising securitisation exercise, analysts say.

Wealth management

‘The race is on’: Swiss bankers nod to Hong Kong’s wealth hub prowess

City combines ‘stability with competitiveness’ as wealthy clients look to diversify not only assets but also where those assets are held.

Executives of Swiss banks take part in a panel discussion during the Global Financial Leaders’ Investment Summit at Four Seasons Hotel in Hong Kong on November 4, 20206. Photo: Kit Lai
Semiconductors

China’s Wingtech rejects proposal on Nexperia, cites ‘discrimination’

Stand-off deepens year-long dispute between Wingtech and Dutch authorities, as Nexperia files new suit against Wingtech and its founder.

The conflict dates back to September last year, when the Dutch government seized control of the chipmaker over national security concerns. Photo: NurPhoto via Getty Images
The conflict dates back to September last year, when the Dutch government seized control of the chipmaker over national security concerns. Photo: NurPhoto via Getty Images
Tencent

Tencent launches Hy4 in bid to break into AI’s top tier of open-weight models

Tech giant says the new model introduces visual reasoning and powers a comprehensive update to its workplace AI tool WorkBuddy.

Global Financial Leaders’ Investment Summit 2026

Asia to drive Julius Baer’s growth as investors diversify amid US AI risks: CEO

CEO predicts investors ‘over-indexed’ to US equities, dollar will divest to Hong Kong, China, Singapore and Switzerland as tensions rise.

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China stock market

Chinese investors stay on sidelines despite Beijing’s latest rescue push

Leveraged traders trimmed holdings to a one-year low this week, while new stock-account openings dropped by more than 30 per cent in October.

The closing index of the Chinese stock market is displayed on a smartphone on October 30. Photo: CFOTO/Future Publishing via Getty Images
The closing index of the Chinese stock market is displayed on a smartphone on October 30. Photo: CFOTO/Future Publishing via Getty Images
China property

Why a Guangdong state giant’s troubles are rippling across China’s bond market

Mounting concerns over Huafa’s finances have shaken China’s bond market and renewed scrutiny of local governments’ reliance on land sales.

China stock market

PBOC pledges support for stocks as China’s market slide defies rescue efforts

Central bank governor signals further support for capital market and property sector after recent measures fail to stem losses.

Global Financial Leaders’ Investment Summit 2026

Why Hong Kong’s bridge role matters more than ever in a ‘reglobalisation’ era

Banking leaders say demand for diversification, yuan funding and cross-border capital flows is reinforcing the city’s appeal.

Discussing Hong Kong's role in world finance are (from left) Arthur Yuen of the HKMA, Sergio Ermotti of UBS, Jean Lemierre of BNP Paribas, Ronald O’Hanley of State Street and C.S. Venkatakrishnan of Barclays. Photo: Kit Lai
Portfolio

‘Asia buys Asia’: top bankers pitch Hong Kong as haven for capital diversity

Yuan-denominated assets are becoming increasingly attractive as investors seek to diversify their portfolios amid market volatility.

Hui Zhang, president of the Bank of China, speaks at the Global Financial Leaders’ Investment Summit in Hong Kong on Tuesday. Photo: Kit Lai
Hui Zhang, president of the Bank of China, speaks at the Global Financial Leaders’ Investment Summit in Hong Kong on Tuesday. Photo: Kit Lai
China trade

How Beijing plans to cut trade costs and speed cross-border payments

Draft measures would expand forex services, ease compliance requirements and simplify overseas trade payments, regulator says.

Artificial intelligence

As AI sell-offs rattle investors, Goldman Sachs touts ‘enormous opportunities’

Unwinding AI tech stocks in China unnerved many, but two huge Wall Street firms maintain the technology’s productivity and cost benefits will win out.

Artificial intelligence

China’s ‘Lipstick King’ hawks tokens as AI gets Singles’ Day push

Li Jiaqi helps sell 100,000 AI subscriptions in 30 minutes amid push by AI developers to promote the technology as an everyday utility.

Li Jiaqi (left) and QwenWork CEO Chen Yusen during the live stream on Tuesday. Photo: Handout
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