The supermarket chain is importing more products from mainland China in a bid to lure Hongkongers who have taken to travelling to Shenzhen and other mainland cities where they can shop and dine for cheaper, says chairman of CK Hutchison.
The Asian Family Legacy Foundation, which held its inauguration ceremony in Hong Kong on Wednesday, considers the city an ideal location for family offices to get together to carry out their missions in charity work and cultural exchanges.
Nio’s battery-swapping technology is gaining a huge supporter in state-owned FAW Group as both pledge to set industry standards and ease concerns about drivers about EV driving range.
Their allocation to developed-market bonds increased by the most in five years to 16 per cent, bringing back a greater balance between fixed income and equities, according to a global survey by the Swiss bank.
Xpeng narrowed its losses last quarter as deliveries and vehicle margins improved. Technology licensing fees from Volkswagen also helped.
Tesla’s closest rival in China’s EV market reported a major setback in the first quarter, after earnings and deliveries slumped from the preceding three months. Margins eroded amid price discounting.
The financial services secretary, Christopher Hui Ching-yu, has denied media reports that a major stock market reform that would see trading continue as normal during typhoons and torrential rains has been postponed.
China’s leading EV makers are taking longer to settle payments with suppliers, indicating stress in the industry because of slowing sales and mounting discounts.
Scammers have published another fictitious article with the appearance of a South China Morning Post story in a bid to promote an online financial trading tool.
Gotion’s G-Current lithium-ion-phosphate battery offers a driving range of nearly 500km in under 10 minutes of charging. Deliveries are expected to start in 20025 when a new plant is ready.
Hong Kong’s tax breaks and immigration policies to attract tycoons to set up family offices have been quite successful, as they have piqued the interest of many billionaires over the past year, banker says.
State-owned company plans to be first to use Gotion High-Tech’s solid-state batteries when they start mass production, chairman Yin Tongyue says.
Roll-out provides a safe, convenient means of payment for Hongkongers spending in mainland China and mainland users in Hong Kong, HKMA says.
Beijing has announced 300 billion-yuan in funds to help clear excess housing inventory, as well as measures to ensure developers have access to financing and that homes are delivered on time.
The Securities and Futures Commission has warned of a fraudulent crypto trading platform called Quantum AI, a long-time scam that uses deepfakes of Elon Musk.
Chinese electric vehicle (EV) maker Nio plans to stay on the sidelines amid a bruising price war in the sector, even after it launched a new mass-market brand to target budget-conscious consumers.
Facilities capable of producing 70,000 to 100,000 tonnes of green methanol from leftover food will be ready by the end of 2025, Shi Pingyang, vice-president of Shenergy, told reporters on Wednesday.
Bridgewater Associates, the world’s biggest hedge fund slashed its holdings drastically in the first quarter in a move may have been too hasty and caused it to miss out on the recent bull run.
HBGL, which operates Huobi HK, has withdrawn the licence application for unspecified reasons, requiring it to close the crypto exchange under the city’s virtual asset regulations.
The private bank has increased its headcount, mainly relationship managers and senior bankers, by 15 per cent this year. It sees Hong Kong, Singapore and Dubai as stepping stones to expand its business.
Hong Kong is missing out on an office investment boom in the Asia-Pacific region this year as a supply glut and high vacancy rates put investors off the segment, according to analysts.