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Jack Ma, founder of Alibaba, visits the company’s campus in Hangzhou, Zhejiang province, on Friday. Photo: Handout
Alibaba

Jack Ma’s Alibaba visit sparks nostalgia over company’s humble start

A cheerful mood at Alibaba’s annual event for friends and family, as the company navigates business challenges.

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Xiaomi

Xiaomi founder has ‘hardest time’ since fatal crash involving its car

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Family offices

Trump’s tariffs are driving Asia’s ultra-rich investors away from US assets

Alibaba

Alibaba teams up with social media platform RedNote in fresh e-commerce push

The cross-platform alliance allows consumers to find products via RedNote, which redirects them to buy the goods on Taobao and Tmall.

RedNote had more than 300 million monthly active users in 2024. Photo: Shutterstock
RedNote had more than 300 million monthly active users in 2024. Photo: Shutterstock
Banking & finance

China’s stock regulator pledges ‘high-level opening’, streamlined listings

CSRC to help high-quality firms listed overseas offer shares in mainland China and Hong Kong, chairman Wu Qing says.

US-China trade war

China avoiding ‘disruptive’ de-dollarisation despite US trade war, report says

Findings come as some analysts have raised the spectre of China selling off its US Treasury-issued assets amid worsening bilateral ties.

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DeepSeek

DeepSeek tech is ‘overblown’ and not a threat, Anthropic co-founder says

Jack Clark, a former journalist turned AI policy expert, said DeepSeek ‘might become a closer competitor’ if it had access to more computing resources.

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An Anthropic co-founder has dismissed progress from DeepSeek as people await the Chinese start-up’s next-generation R2 reasoning model. Photo: Reuters
An Anthropic co-founder has dismissed progress from DeepSeek as people await the Chinese start-up’s next-generation R2 reasoning model. Photo: Reuters
Alibaba

Alibaba offers 100 million free drinks as instant deliveries hit milestone

Alibaba announced the milestone two weeks after JD.com said it also reached 10 million daily orders for items sent immediately to buyers’ doorsteps.

Fintech

Alipay and WeChat Pay see booming inbound spending in China for Labour Day

Preliminary data from the country’s two dominant mobile payment apps show two-to-three times the spending from a year ago, much of it from Hong Kong.

Yuan

China’s offshore yuan jumps to 6-month high as tariff rollback likely: analysts

Washington’s weaponisation of tariffs casts doubt on US asset safety, and some say this makes yuan assets more attractive.

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The offshore yuan strengthened and broke past the 7.2 level against the US dollar for the first time since November. Photo: Reuters
International Property

Wealthy Chinese turn away from US real estate amid Trump’s trade war

A growing number of Chinese homebuyers are shifting their attention to markets like Thailand, Australia, Singapore and the UK.

Potential homebuyers evaluate residential promotions from a salesperson at the 47th House and Condo Expo in Bangkok, Thailand, on March 20, 2025. Photo: EPA-EFE
Potential homebuyers evaluate residential promotions from a salesperson at the 47th House and Condo Expo in Bangkok, Thailand, on March 20, 2025. Photo: EPA-EFE
Hong Kong Monetary Authority (HKMA)

Hong Kong reins back local dollar amid capital inflow

In its first market intervention in two years, the city’s de facto central bank bought US$6.005 billion at HK$7.75.

China property

China’s property market faces choppy waters amid Trump’s tariff war

‘I honestly don’t know where the bottom is,’ dismayed homebuyer says as trade tensions threaten to swamp a nascent recovery.

E-commerce

Alibaba launches Taobao fast-delivery service ahead of schedule

The early introduction of the service reflects heightened domestic demand for efficient and affordable delivery of goods ordered online.

For Taobao, China’s largest online marketplace, fast delivery is a means to help boost sales amid slow consumer spending on the mainland. Photo: Shutterstock
E-commerce

Temu embraces local US sellers as Trump plugs ‘de minimis’ loophole

The shopping site is shifting its US business to a ‘local fulfilment model’, as tariff exemptions for low-value Chinese goods come to an end.

Temu has changed its US business model in response to President Donald Trump’s tariffs. Photo: AFP
Temu has changed its US business model in response to President Donald Trump’s tariffs. Photo: AFP
Hong Kong stock market

Worst in 50 years: Trump gets ‘F’ in 100-day report card for markets

The Dow and the S&P 500 plunged in first 100 days of Trump’s second term, while US dollar weakened against yen and Swiss franc, data says.

Artificial intelligence

Exclusive | China’s Tsinghua University snags top American AI researcher from Microsoft

Lamb will join the prestigious school’s College of AI and has already started accepting applications from prospective PhD and master’s students.

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E-commerce

China’s delivery services market faces shake up as JD.com takes on Meituan

The fight escalated this week as both companies accused each other of blocking delivery riders from accepting orders from rival platforms.

A Meituan food delivery courier rides an electric scooter in Chongqing, China, on March 29, 2025. Photo: Getty Images
A Meituan food delivery courier rides an electric scooter in Chongqing, China, on March 29, 2025. Photo: Getty Images
Ant Group

Alipay leads China’s payments market as tap-and-pay reaches 100 million users

Alipay, launched 20 years ago by Alibaba Group, has proved to be a revolutionary product that changed the way Chinese people make payments.

Semiconductors

China waives retaliatory tariffs on some US chip imports, report says

China has waived its retaliatory 125 per cent tariffs on certain semiconductor imports from the US, according to a Caijing report.

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Electric & new energy vehicles

Digital cockpit is the key to the Russian EV buyer’s wallet, vendors say

With large screens and high-quality audio systems, Chinese cars are ready to run infotainment software Russian drivers favour, vendor says.

Visitors trying out an in-car entertainment system at the 2025 Shanghai International Automobile Industry Exhibition on Wednesday, April 23, 2025. Photo: Intel Corporation.
Electric & new energy vehicles

Chinese EV exports shift to Russia, Middle East amid US, Europe tariffs: report

Growing sales in emerging markets are insulating Chinese EV makers from tariff volatility, AlixPartners says.

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BYD electric cars, bound for South America, are stacked at the Taicang Port in Suzhou in eastern Jiangsu province on April 8, 2025. Photo: AFP
BYD electric cars, bound for South America, are stacked at the Taicang Port in Suzhou in eastern Jiangsu province on April 8, 2025. Photo: AFP
DeepSeek

DeepSeek on recruitment drive as start-up remains tight-lipped on new AI model

This marks the first time DeepSeek has published product-related job openings, as it has largely focused on fundamental AI model research.

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Electric & new energy vehicles

No-shows at Shanghai car expo reflect brutal mainland competition

Hyundai, Hozon, Jaguar Land Rover, Polestar and nearly a dozen other marques miss the world’s largest auto event.

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Tencent

WeChat helps Chinese tourists book tables at 870,000 dining spots across Japan

The Chinese-language version of Tabelog, a popular Japanese restaurant review website, is now available as a mini program on WeChat.

WeChat’s latest mini program offers mainland Chinese tourists in Japan the convenience of finding and booking tables at more than 800,000 dining establishments across the country. Photo: Shutterstock
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