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Alibaba Group Holding unveiled the preview version of its most powerful artificial intelligence model to date, solidifying its position as China's leader in the race to catch American giants like Anthropic, Google and OpenAI. Qwen3.5-Max-Preview, the flagship model of Alibaba's Qwen 3.5 family, is now available on Arena, formerly known as LMArena, a model performance community created by researchers from UC Berkeley. Alibaba, which owns the South China Morning Post, unveiled the model on......

AstraZeneca said it would establish drug manufacturing facilities in Guangzhou and Shanghai as well as a separate innovation centre in Shanghai, joining a group of foreign players building new plants in China amid geopolitical tensions. The moves are part of a US$15 billion commitment the British firm pledged to make in the world's second-largest drug market through 2030, unveiled during UK Prime Minister Keir Starmer's visit to Beijing in January. China's manufacturing capabilities, integrated......

Xiaomi's updated SU7 electric vehicle (EV) is expected to bite into the market share of Tesla and some domestic rivals in China, as demand weakens and regulators tighten oversight. Founder and CEO Lei Jun on Thursday announced official pricing for the new-generation smart sedan, with the standard edition starting at 219,900 yuan (US$31,900) and the pro and max variants set at 249,900 yuan and 303,900 yuan, respectively. The figures are 10,000 yuan lower than pre-sale estimates, but 4,000 yuan......

The use of artificial intelligence (AI) and digital technologies has advanced rapidly around the world in recent years, but the benefits are not available to everyone. More than a quarter of the world's population – about 2.2 billion people, according to figures released last November by the International Telecommunication Union (ITU) – remains disconnected from the internet, unable to access essential services such as education and finance, which continue to move online. This disconnect is......

Hong Kong stocks swung between gains and losses on Friday as investors traded on headlines about the Middle East tensions and navigated volatile oil prices. The Hang Seng Index fell 0.1 per cent to 25,471.66 as of 9.46am local time. The Hang Seng Tech Index dropped 0.7 per cent. On the mainland, the CSI 300 Index climbed 0.9 per cent and the Shanghai Composite Index added 0.3 per cent. Alibaba Group Holding tumbled 4.1 per cent to HK$126.50 after reporting a 67 per cent slump in quarterly......

Prime office vacancy rates in Hong Kong's main business district dropped to single digits for the first time in 26 months, lifting overall rents in the city's struggling office property market, according to JLL. The vacancy rate in Central for premium offices fell to 9.9 per cent in February from 10.1 per cent the previous month, the property consultancy said. The last time a single-digit rate was recorded for grade A offices in the district was in December 2023, when it also hit 9.9 per cent,......

The Chinese founder of the massive router maker facing national security probes by the Trump administration has applied for an expedited visa under the Trump Gold Card programme, according to people familiar with the matter. California-based TP-Link Systems told the federal agencies scrutinising its operations that founder and Chief Executive Officer Jeffrey Chao had applied for permanent residency under the programme, the people said. Successful Gold Card applicants must give a US$1 million......

Chinese telecommunications gear giant Huawei Technologies is capitalising on the OpenClaw frenzy with new enterprise agent tools and a series of Kunpeng and Ascend compute offerings, as it bets on surging demand for agentic artificial intelligence services. The Shenzhen-based company announced at its China Partner Conference on Thursday that it would launch AgentArts, an agent development platform for enterprises, on April 30 for public beta testing, followed by the official release of the......

A recession mindset took hold among global investors after strikes on energy infrastructure in the Middle East heightened fears that disruption to production and distribution would keep oil prices elevated for longer, darkening the global economic outlook. Crude prices staged a comeback on Thursday after Iran attacked a liquefied petroleum gas site in Qatar in retaliation for Israel's strikes on its South Pars gas field. Brent futures surged 5.5 per cent to US$113.53 a barrel in London, and......

Hong Kong's market regulator will soon begin inspection of investment banks to assess their roles as sponsors of listing candidates, in its latest effort to uphold the quality of new listings amid a booming market. The Securities and Futures Commission (SFC) said the inspection would focus on whether banks had complied with its January circular, which outlined expectations on staffing and quality controls when handling initial public offerings (IPOs) in Hong Kong. For example, the SFC expected......

Alibaba Group Holding, China's e-commerce and artificial intelligence powerhouse, on Thursday for the first time disclosed the production progress of its T-Head chip unit, as quarterly results missed estimates. It reported a 2 per cent year-on-year increase in revenue to 284.8 billion yuan (US$40.7 billion) for the December quarter, but missed the 289.8 billion yuan consensus forecast compiled by Bloomberg. The company also “brought its proprietary GPU [graphics processing unit] into production......

CK Hutchison Holdings, one of the flagship companies owned by Hong Kong billionaire Li Ka-shing's family, reported a 7 per cent increase in underlying profit for 2025, as the company predicted its businesses would face “new and perhaps unforeseen challenges” in 2026. The ports-to-telecoms conglomerate said on Thursday that underlying profit reached HK$22.3 billion (US$2.85 ‌billion) last year, compared with HK$20.8 billion a year earlier. Including a one-time ⁠accounting loss, net profit fell......

GLP, a global operator and investor in logistics, digital infrastructure, renewable energy and finance, is deepening its commitment to China's growth, projecting as much as a 50 per cent rise in logistics rental rates, supported by stronger domestic consumption and wider adoption of alternative energies. Angela Zhao, CEO of GLP China, said the country's 15th five-year development plan for 2026 to 2030 would further cement the company's role as a global thematic investor in “new economy”......

As the war in Iran rages and the consequences of the shock to commodity markets become clearer, the vulnerability of Asia's economies tops the list of concerns in the research reports of investment banks. The region's reliance on energy imports from the Gulf has come under scrutiny. The facts speak for themselves. Three-quarters of the oil supplies that passed through the Strait of Hormuz before Iran effectively closed the waterway were destined for China, India, Japan and South Korea. While......

Chinese authorities have renewed their push for stricter oversight of the electric vehicle (EV) market, urging carmakers to move away from aggressive discounting and focus instead on technological innovation. The directive comes as domestic manufacturers struggle with cooling demand and the phasing out of long-standing government subsidies. At a high-level meeting on March 17, the Ministry of Industry and Information Technology, the National Development and Reform Commission and the State......

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Hong Kong stocks fell on Thursday alongside other markets in Asia after the US Federal Reserve signalled that the Iran war complicated the inflation outlook, while oil prices remained elevated amid tensions in the Middle East. The Hang Seng Index fell 1.6 per cent to 25,629.06 as of 9.43am local time. The Hang Seng Tech Index dropped 1.3 per cent. On the mainland, the CSI 300 Index slid 0.8 per cent and the Shanghai Composite Index retreated 0.7 per cent. Tencent Holdings tumbled 5.1 per cent to......

China's recent changes to the rules governing its global payment system could pave the way for turning it into a genuine alternative to Western networks, according to a new report. Beijing now appears to be moving towards building the Cross-border Interbank Payment System (CIPS) into a global platform compliant with multicurrency settlements and other foreign payment channels, said the study led by Ju Jiandong, a chair professor at Tsinghua University's PBC School of Finance. Beijing recently......

Middle East banks and wealthy investors are poised to increase their investments in Hong Kong amid geopolitical tensions to diversify their risk and capture growing opportunities in Asia, according to the head of InvestHK, the government agency tasked with attracting foreign investment. A couple of Middle East banks were in the process of setting up offices in Hong Kong with the help of InvestHK, said Alpha Lau Hai-suen, its director general. These additions would strengthen the city's ties with......

Chinese toymaker Pop Mart and Sony Pictures Entertainment announced on Thursday a feature film starring Labubu, the company's most popular character. Analysts said the film was a strategic move to extend Labubu's intellectual property (IP) value and support medium-term growth, following the trajectory of global icons like Barbie and Hello Kitty. The film, still in early development, would be a mix of live action and computer-generated imagery, Pop Mart said in a statement. Lung Ka-sing, the......