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In the largest settlement for a Takeovers Code breach in Hong Kong, the Securities and Futures Commission (SFC) has reached an agreement with two wholly owned subsidiaries of Chow Tai Fook Nominee (CTFN) – a company linked to the Henry Cheng Ka-shun family – requiring them to pay up to HK$1.5 billion (US$192 million) to independent shareholders of Giordano International. The agreement with Sino Wealth International, Giordano's majority shareholder, and Clear Prosper Global followed an......

Alibaba Cloud has unveiled its next-generation open artificial intelligence model, Qwen-3.5, in a move set to have major implications for the global AI race between China and the US. The much-anticipated release, timed on the eve of the Lunar New Year, capped a frenetic week in which nearly every major Chinese AI developer rolled out new flagship models – with the notable exception of DeepSeek, despite media speculation that a V4 system would debut before the holiday. Qwen-3.5 is Alibaba Cloud's......

Hong Kong-based Kerry Properties has won a tender for a residential plot in Shau Kei Wan for HK$1.38 billion (US$177 million), which drew heavy bidding interest from both mainland Chinese and local developers. Kerry beat seven other bidders for a 50-year grant for the 1,349-square-metre (14,523 sq ft) parcel in the Eastern district, the Lands Department said on Monday. The plot was expected to provide a total gross floor area of over 130,000 sq ft, yielding around 300 residential units,......

Thousands of Chinese retail investors spent the last day of the Year of the Snake on Monday filing complaints against UBS SDIC Fund Management for an overnight valuation change that caused steep losses for holders of its silver fund, even after the firm offered remedies. More than 200,000 people lodged complaints against the operator of the country's only silver fund after the controversial change on February 2, according to Xiaofei Bao, an online Chinese consumer protection platform. The switch......

Gold, mahjong sets, fancy lai see packets and dinners with fireworks views are among the incentives Hong Kong banks are using to lure wealthy customers from the city and the mainland during the Lunar New Year, which kicks off on Tuesday. Hong Kong authorities estimated that as many as 1.43 million mainland visitors would cross the border during the holiday period, up 6 per cent from a year earlier. The Year of the Horse begins on Tuesday, but the mainland holiday started on Sunday and ends on......

The Year of the Horse is set to bring volatility for the investments of Hong Kong's 4.8 million Mandatory Provident Fund (MPF) members, following a record-breaking Year of the Snake that ended on Monday, according to analysts. The next zodiac year, which begins on Tuesday, is the seventh in the Chinese lunar calendar's 12-year cycle, each represented by an animal. The Year of the Snake delivered estimated earnings of HK$251.6 billion (US$32 billion), the highest on record since the MPF was......

Hong Kong stocks fell on Monday, led by major tech heavyweights, as investors trimmed positions and locked in profits while trading turned muted ahead of the Lunar New Year break. The Hang Seng Index slid 0.3 per cent to 26,501.20 at the open. The Hang Seng Tech Index dropped 0.2 per cent. E-commerce major Alibaba Group Holding slumped 1.8 per cent to HK$152.60, and peer JD.com dropped 0.7 per cent to HK$105.50. Search-engine operator Baidu fell 1.5 per cent to HK$133.80, and food-delivery......

South Korean investors returned to mainland equities at the start of 2026, ramping up purchases of Hong Kong-listed players in artificial intelligence and semiconductors amid enduring enthusiasm for the tech sector. They bought US$92.5 million worth of Hong Kong-listed shares this year as of February 13, according to data from SEIBro, a portal maintained by the Korea Securities Depository. The buying was concentrated in newly listed technology companies and exchange-traded funds (ETFs) tracking......

Chinese tech companies are competing to make their mark during the Spring Festival Gala presented by state-run broadcaster CCTV, a variety show and annual spectacle that provides a rare nationwide marketing opportunity, like the Super Bowl in the US, and is also an unmistakable signal of political alignment with Beijing's industrial priorities. This year, ByteDance's cloud computing arm, Volcano Engine, secured an “exclusive AI cloud partnership” with the gala, scheduled for Monday, taking the......

ByteDance's latest video generation model Seedance 2.0 has blown people away for its ability to rapidly generate lifelike videos, but is also receiving blowback globally for alleged intellectual property (IP) violations. The controversy focuses on TikTok-owner ByteDance's alleged use of copyrighted content to train its artificial intelligence model, as videos of Hollywood celebrities, Disney characters and comic book heroes generated by Seedance have flooded the web in recent days. On Saturday,......

China's supply chain is stepping up investments in liquid cooling technology as the global AI build-out pushes data centre power densities to levels that air cooling can no longer efficiently handle. Dozens of Chinese listed companies have in recent months announced plans to expand into, or ramp up, liquid-cooling systems as demand surges for technology that uses circulating fluids to keep racks of AI chips from overheating. Among them are HVAC specialist Sanhua Intelligent Controls, electronics......

China's top market regulator has summoned the country's leading tech companies to demand an end to “involutionary” competition, at the time when the companies are pouring billions of yuan into a Lunar New Year promotional blitz to win over users for services including artificial intelligence apps. The companies summoned on Friday were Alibaba Group Holding, ByteDance's Douyin, Baidu, Tencent Holdings, JD.com, Meituan and Taobao Instant Commerce, Alibaba's on-demand delivery unit, the State......

As Hong Kong, mainland China and several other Asian markets usher in the Year of the Horse on Tuesday, the region's commercial real estate sector is expected to draw increased cross-border capital, with certain segments set to outperform as mega-deals make a comeback, analysts said. Asia-Pacific was set to be a focus among global investors, with data cited by global commercial real estate consultancy Colliers showing that capital raised for the region's property markets had surged by 130 per......

The highest-paid independent non-executive director (INED) of a Hong Kong-listed company in 2024 made US$1.67 million, nearly 2,000 times what the lowest-paid INED received, drawing attention to a potential disconnect between pay and the responsibilities of the role. The lowest-paid INED received 6,000 yuan (US$867.94) in 2024, according to a survey by the Hong Kong Independent Non-Executive Director Association (HKINEDA), which was based on the 2024 annual reports of more than 2,600 listed......

Local government support has lifted sentiment in China's struggling property sector ahead of the spring sales season, but analysts remain divided on the outlook as structural pressures persist. New and existing home prices across 70 major mainland cities fell at a slower pace month on month in January, while annual declines widened, according to data released by the National Bureau of Statistics (NBS) on Friday. New home prices in the four tier-one cities dropped 2.1 per cent year on year, 0.4......

Artificial intelligence (AI) is eroding the very capabilities young professionals need to remain valuable in a machine-automated era. That is the real challenge facing graduates entering the workforce. It is not simply a case of AI destroying jobs – though it is – but that it is undermining our cognitive and interpersonal skills. The numbers are starting to confirm what we suspected. Hong Kong graduates in 2025 found 55 per cent fewer job opportunities than the year before. Over 12 per cent of......

Artificial intelligence is already reshaping industries and markets, even though artificial general intelligence (AGI) – a still theoretical form of AI capable of humanlike reasoning across many tasks rather than single specialised functions – has yet to be achieved. That was the message of a recent essay posted on X by start-up founder Matt Shumer, titled “Something Big Is Happening”. He likened the current moment to the period just before the Covid-19 pandemic, arguing that the disruption......

Around a decade ago, aboard a train winding through China's landscape, Wang Ning, the founder and chairman of Beijing-founded international art toy brand Pop Mart, shared with designer Kenny Wong Shun-ming the story of his early attempts at entrepreneurship. As a fresh graduate, Wang struggled to sell affordable men's suits sourced from Yiwu in Zhejiang province, eastern China, experimenting with small-scale arbitrage and learning first-hand how difficult it was to connect products with......

A viral AI-generated video of Brad Pitt and Tom Cruise fighting atop a building is causing a stir online. The 15-second video comes from the latest AI video-generation platform, Seedance 2.0. The platform was launched this week by its owner, ByteDance, the same Chinese parent that oversees TikTok. As the video circulates online, the Motion Picture Association and other industry stakeholders have called out the video for its unauthorised use of copyrighted works. MPA's CEO, Charles Rivkin, wrote......

China's food delivery giant Meituan on Friday warned that it expected to post a loss of up to 24.3 billion yuan (US$3.5 billion) for 2025 due to “intense industry competition”, with the slump likely to persist this year. The sharp reversal from 2024, when the company posted a profit of 35.8 billion yuan, comes on the back of one of China's most intense price wars last year between Meituan, Alibaba Group Holding and JD.com in local e-commerce and food delivery, which only subsided after......