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The mounting challenges Apple faces in China will test John Ternus, the newly appointed CEO, as analysts watch if he tries to replicate his predecessor Tim Cook's frequent “charm offensives” in the world's largest smartphone market. “I'd like to see if the new CEO can charm Chinese consumers as well as government ministers, just as Tim Cook has,” said Bryan Ma, vice-president of client devices research at IDC. Apple announced on Tuesday that Ternus, 50, would be the new CEO effective September 1......

HSBC Holdings has rejected allegations linking it to a money laundering case involving Iran, with chairman Brendan Nelson saying the bank was not a party to the matter and had only been asked to provide information. Responding to a shareholder at an informal meeting in Hong Kong on Tuesday, Nelson said HSBC had no records related to the transactions in question. “This is a case where HSBC is not a party, but in fact has only been asked to provide information relating to transactions that......

Behind China's landmark crackdown on the e-commerce and food-delivery sectors lies a darker narrative of resistance, secrecy and violence, after regulators uncovered a vast network of “ghost” bakeries and imposed a record fine on seven major platforms. The State Administration for Market Regulation (SAMR) levied a 3.6 billion yuan (US$528 million) fine on seven platforms run by PDD Holdings, Meituan, JD.com, Alibaba Group Holding and ByteDance, with the probe revealing a hidden office, violent......

A consortium led by Sino Land and Great Eagle Holdings, alongside two major mainland Chinese developers, has won the tender for the Kam Sheung Road Station Phase Two development, signalling continued confidence in Hong Kong's Northern Metropolis and its long-term growth prospects. The group – which also includes state-backed developers China Overseas Land & Investment and China Merchants Land – plans to invest more than HK$13 billion (US$1.7 billion) to build high-quality residential projects......

Hong Kong's commercial property market attracted US$1.6 billion in investment in the first quarter, up 41 per cent from a year earlier, as demand for office, retail and hotel assets picked up amid improving liquidity, according to JLL. Investment volumes could receive a further boost from global investors looking to redeploy their capital amid the conflict between the US, Israel and Iran, the property consultancy said in a report on Tuesday. “With Asia increasingly perceived as a relatively......

The South China Morning Post received six honours at the State Street Institutional Press Awards Asia-Pacific 2025 on Tuesday. The awards, which recognise outstanding news reporting on institutional finance across Asia-Pacific (APAC), drew a record 246 submissions this year from eight economies – mainland China, Hong Kong, Macau, Taiwan, Singapore, Malaysia, Australia and France. Most notably, SCMP veteran Enoch Yiu received the Outstanding Contribution to Institutional Journalism Award. The......

Chinese artificial intelligence start-up Moonshot AI has released its latest open-source flagship model, Kimi K2.6, as domestic tech giants including Alibaba, ByteDance and Tencent issued a consensus to promote open source, even as some continue to invest in closed systems. The move highlights the varied business strategies of Chinese AI companies, as differences in growth and maturity shape their commitment to open source. Unveiled on Monday, Kimi K2.6 brings upgrades in long-horizon coding,......

A long-standing pricing gap between the mainland China-listed and Hong Kong shares of dual-listed companies has narrowed – and in some cases reversed – as global investors re-rate China's technology companies. The Hang Seng AH Premium Index, a widely watched gauge of the valuation gap between dual-listed companies' A shares trading on mainland exchanges and their H shares in Hong Kong, has remained below 120 in recent sessions, down sharply from a high of 157.89 in February 2024. The shift has......

As cryptocurrency converges with traditional finance, driving industry growth and mainstream adoption, officials at Hong Kong's Web3 Festival are anticipating the next leap: the emergence of artificial intelligence agents. They say AI agents – which perceive their environment, make decisions and act autonomously around the clock – will need tools to unlock their full economic potential, which crypto can provide through its ability to transfer funds instantly across borders without......

Nvidia supplier Victory Giant surged 50 per cent on its first day of trading following the biggest Hong Kong initial public offering this year, as investor appetite for artificial intelligence stocks weathers uncertainty in the Middle East. The printed-circuit board maker closed at HK$315.00 compared with the HK$209.88 price of shares in its HK$20 billion (US$2.6 billion) IPO. The Guangdong-based company has also jumped fourfold in a year in Shenzhen trading. Victory Giant is the latest in a......

China has announced that it now has the capacity to build up to 50 nuclear reactors simultaneously, as it doubles down on a push to rapidly expand its nuclear power generation and become a global leader in the sector. The figure came from a report released by the China Nuclear Energy Association (CNEA) on Friday, which highlights the country's ability to run dozens of nuclear projects concurrently spanning the full project life cycle – from design to construction. “China's nuclear technology......

Chinese stocks are likely to continue the resilience they have shown since the war in the Middle East began, thanks to haven demand for yuan-linked assets, the green shoots of the property market and the inclusion of tech start-ups in key equity gauges, according to fund managers and investment banks. Optimism about Chinese equities was building after official data showed that home prices in the biggest mainland cities reversed declines and an inflationary trend took hold in March, said money......

Say “open source” and “China” and most people will think of its world-conquering artificial intelligence (AI) large language models. Its open-source computer chips are just as significant. These chips are based on the RISC-V architecture (pronounced risk-five). At last month's Zhongguancun Forum science festival in Beijing, experts celebrated the establishment in China of a complete RISC-V ecosystem. Chinese Academy of Sciences (CAS) researchers recently unveiled their latest Xiangshan processor......

Victory Giant, a Chinese manufacturer of printed circuit boards (PCBs) for artificial intelligence and high-performance computing, rose by 57.23 per cent in its trading debut in Hong Kong on Tuesday, as investors rushed to tap into surging global demand for the hardware powering the AI infrastructure boom. Shares in the Guangdong-based company, a supplier to US chip leader Nvidia, opened at HK$330, versus the offer price of HK$209.88 – the maximum offer price. The firm raised HK$20 billion......

There is a tendency to portray the global artificial intelligence (AI) landscape as consisting of two bitter rivals – China and the United States. The remaining 80 per cent of the world's population, by virtue of their supposed dearth of scale, research and other critical overheads, are purportedly followers with no agency. The reality is more complex. The emerging global AI order is neither unipolar nor strictly bipolar. Instead, it is characterised by a swathe of middle powers hedging their......

European consumers, spooked by rising oil prices due to the Middle East conflict, rushed to buy battery-powered cars last month, with Chinese electric vehicle (EV) brands poised to reap the benefits and give their global expansion a boost. Battery EV (BEV) registrations, a proxy for retail sales, climbed 51 per cent month on month in March, topping 224,000 units across 15 key European Union (EU) markets, according to data jointly released by research firm New Automotive and industry consortium......

As the US-Israel war on Iran raises global concerns about energy security, a new report has found that the clean power sector is rapidly gaining ground and emerging as a solution for nations looking to reduce their reliance on oil and gas imports. The world passed a significant turning point in 2025 as clean power generation rose faster than global demand for electricity, preventing an increase in fossil fuel generation, according to the study by London-based energy think tank Ember released on......

Apple CEO Tim Cook is stepping down from the job that he inherited from the late Steve Jobs, ending a nearly 15-year reign that saw the company's market value soar by more than US$3.6 trillion during an iPhone-fuelled era of prosperity. Cook, 65, will turn the CEO duties over to Apple's head of hardware engineering, John Ternus, on September 1 while remaining involved with the Cupertino, California, company as executive chairman. That is similar to the transitions made by Amazon's Jeff Bezos and......

Huawei Technologies has launched its first artificial intelligence glasses, as the Shenzhen-based tech giant joins an intensifying battle with US leader Meta and domestic peers including Alibaba Group Holding and Rokid in smart eyewear. Priced from 2,499 yuan (US$367), the new eyewear weighed just 35.5 grams and featured various AI functions ranging from voice interaction to payments, according to a launch event on Monday. Powered by Huawei's self-developed chip designed for eyewear, the glasses......

Chinese Big Tech firms from Huawei Technologies' spin-off Honor to Alibaba Group Holding are moving to the forefront of the country's robotics push as Beijing seeks to spur growth in the sector. Honor, which separated from Huawei in 2020 to focus on smartphones and wearables and only expanded into robotics last year, emerged as the surprise gold medal winner at the second Beijing humanoid half-marathon on Sunday, besting the country's robotics darlings from Unitree to X-Humanoid. Its Lightning......