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For Gary Liu, the most profound shift in commerce today is not about faster checkouts or new wallets. It is about who, or what, sits between merchants and consumers. “There's only one thing that's fair to everyone - you only have 24 hours a day,” says Liu, CEO of Antom and Senior Vice President of Ant International. “Whichever service occupies the most consumer time, that's where commerce should be.” Increasingly, that time is being spent not browsing websites, but interacting with AI......

The Guangdong-Hong Kong-Macau Greater Bay Area (GBA) is lagging behind China's national average in basic research, despite showing strong potential in sectors such as semiconductors and smart manufacturing, according to Deloitte. The cluster of cities in southern China, which included Shenzhen, spent about 28.9 billion yuan (US$4.2 billion) on basic research in 2024, accounting for just 5.67 per cent of total spending in research and development (R&D), the consulting firm said in a report......

Germany's chemical giant BASF has launched operations at its China production base – its largest overseas investment to date – with a total outlay of €8.7 billion (US$10 billion), and the country's first wholly foreign-owned large-scale Verbund site. The company on Thursday inaugurated the world-scale complex in Zhanjiang, Guangdong province, designed to run entirely on renewable electricity. A Verbund site is an integrated chemical complex where plants, energy use and materials are......

A new artificial intelligence algorithm developed by Google that could reduce demand for memory chips triggered a slump in global memory stocks, but analysts said it presented an opportunity for investors to “buy the dip”. Shares in memory giants including Samsung and SK Hynix fell after Google said in a blog post on Tuesday that TurboQuant reduced the memory demands of key-value (KV) caches – a crucial component of how AI models are served to users – by six times through “extreme compression”......

China's DJI announced its first 360-degree drone on Thursday, directly challenging domestic rival Insta360 in a nascent market segment that is now at the centre of an escalating patent war. The new product, the DJI Avata 360, marks a significant expansion for the company beyond traditional aerial photography. The drone features a front-mounted omnidirectional camera capable of capturing high dynamic range (HDR) images at 8K resolution and 60 frames per second, according to official......

China National Offshore Oil Corporation (CNOOC), the country's largest producer of offshore crude oil and natural gas, aims to further boost production this year amid geopolitical tensions and rising oil prices. The plan came after the state-backed company reported an 11.5 per cent drop in net profit to 122.08 billion yuan (US$17.7 billion) in 2025, owing to low oil prices during the year, even though it produced record-high volumes of the commodities. Its revenue in the period also dipped by......

Hong Kong retained its position as Asia's top financial centre and ranked third globally, while also leading in fintech, banking and insurance, according to the latest Global Financial Centres Index released on Thursday. The twice-yearly report assessed the competitiveness of 120 financial markets. Hong Kong scored 756 points, just one point behind London and two points shy of top-ranked New York, while edging Singapore by a single point. The index is compiled by Z/Yen Group and the China......

Chinese computer scientists and researchers have been urged to boycott a major artificial intelligence conference after its organisers barred submissions from US-sanctioned institutions, including leading Chinese tech groups such as Huawei Technologies. The move by the China Computer Federation (CCF) is the latest flashpoint in deepening US-China tensions over AI, a fast-evolving field with far-reaching economic, social and military implications. The influential professional body said on......

Chinese self-driving technology firm Pony AI plans to launch robotaxi services with partners Uber Technologies and Verne in Zagreb, Croatia, spearheading commercialisation of autonomous cabs in Europe amid an accelerated go-global drive. The three companies aimed to operate a fleet of thousands of robotaxis in various European cities over the next few years after achieving consistent performance and safety, Guangzhou-based Pony said on Thursday. Neither the starting date for the service nor the......

Volkswagen will withdraw its mass-market car brand Skoda from mainland China after years of lacklustre sales, as international marques continue to lose their appeal in the world's largest automotive market. “Skoda Auto has realigned its global strategy to focus on growth markets such as India and the Asean region,” a Volkswagen spokesperson said on Thursday in a written response to the South China Morning Post, without denying earlier reports that the Czech brand would cease selling new vehicles......

Chinese food and on-demand delivery giant Meituan reported on Thursday its second consecutive quarterly loss since 2022, as intense competition and a prolonged price war with Alibaba Group Holding and JD.com last year squeezed margins. The company reported a 15 billion yuan (US$2.2 billion) adjusted net loss – worse than the 12.9 billion yuan average estimate by analysts – for the fourth quarter ended December 31, compared with adjusted net profit of 9.8 billion yuan a year earlier. Its......

China's two biggest makers of lidar sensors for cars, Hesai Group and RoboSense Technology, have ramped up investments in robotics products as the country consolidates its leading position in building a global supply chain for the fast-growing sector. Shanghai-based Hesai, the world's largest producer of lidar sensors that help cars map terrain, planned to spend 200 million yuan (US$28.9 million) this year to design and manufacture “eyes and muscles” for robots, creating a new growth engine......

Chinese government advisers are calling for government-set “red lines” in artificial intelligence development and applications, as mounting threats of job displacement and data security challenges spark concerns in the country. Jiang Xiaojuan, former deputy secretary general of the State Council, said at the Boao Forum for Asia annual conference in Hainan province that precaution was needed when using AI simply to reduce labour costs. “Those that do not improve service quality or promote......

While China appears better prepared than other countries to deal with the shocks brought by the US-Israel war on Iran, its economy would still come under pressure in the short term if its regional partners suffer, an executive with a global consultancy has said. “China might be more resilient, but China is not resilient to a demand shock,” said Denis Depoux, a global managing director at consultancy Roland Berger. “For example, if the economy is slowing down in Southeast Asia, if people stop......

China is urging companies to release their fertiliser reserves in time for the crucial spring planting season, as the US-Israel war on Iran strains supplies of key raw materials to the world's largest grain producer. Beijing is also expected to keep export restrictions on some fertiliser ingredients in place beyond the spring, as it strives to ensure Chinese farmers retain uninterrupted access to vital agrichemicals at reasonable prices despite the Middle East conflict. Tehran's effective......

Indonesian gold miner PT Merdeka Gold Resources has applied for a Hong Kong listing as it seeks to broaden its international investor base, in a move brokers see as a boost to Hong Kong Exchanges and Clearing's (HKEX) efforts to attract more international companies and diversify its pipeline. The listing application was intended to “broaden the company's access to international investors, enhance share liquidity and provide greater flexibility in raising capital to support future growth”,......

Shares of Chinese short-video platform Kuaishou fell more than 13 per cent to HK$45.96 by midday in Hong Kong on Thursday, a day after reporting strong sales growth, as analysts warned that its core advertising and live-streaming businesses could face mounting pressure this year. The sharp decline reflected investor concerns over a cautious growth outlook for the Beijing-based firm, compounded by its heavy spending on artificial intelligence, according to Zhang Xueru, an analyst at investment......

Jiangsu Aidea Pharmaceutical, which develops anti-HIV and Aids treatments, plans to tap Hong Kong's initial public offering (IPO) market as it sets its sights on expansion into the US and Europe in the coming years, an executive said. The company, listed on the Shanghai Stock Exchange's Star Market, described Hong Kong as a “good window” for going global, citing the city's “flexible” fundraising environment. Many Chinese corporations – including those in the pharmaceutical sector – would......

[The content of this article has been produced by our advertising partner.] It may seem like fintech emerged just a few years ago, but the sector has already become a powerful force in expanding financial inclusion and reaching underserved communities. For more than a decade, the West, led by hubs such as San Francisco, New York City and London, shaped fintech innovation. Today, that momentum is shifting decisively towards Asia. According to the latest “Future of Fintech in APAC”, Money20/20's......

At least 10 weight-loss injections and oral pills are lining up for regulatory approval in China, in a market projected to reach about US$14 billion by 2030. Novo Nordisk's blockbuster semaglutide, which generated about US$35 billion in global revenue last year, lost patent protection in China on March 20, clearing the way for rivals. The rush comes as China's drug regulator accelerates approvals of innovative therapies, helped by a surge in out-licensing deals with global pharmaceutical......