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China’s private sector

China’s private sector
The latest news, analysis and opinion on China’s private sector. In-depth analysis, industry insights and expert opinion.
The Baidu logo is displayed at the company building in Shenzhen. Photo: Getty Images
Mainland China

Baidu says AI now primary business driver despite 2% drop in first-quarter revenue

Analysts expect the company’s AI marketing services base to steadily grow to reduce declines in advertising revenue and boost profits.

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China stock market

‘Explosive’: why China’s gold recycling industry is growing at record speed

Banking & finance

China’s credit demand weak in April despite policy support, strong industry

China-EU relations

German firms in China more optimistic despite Iran war, trade headwinds: survey

Expectations for growth, profits and investment are all up, despite geopolitical turbulence.

German and Chinese national flags flutter on a lamppost at Tiananmen Gate in Beijing. Photo: Shutterstock
Biomedicine: Companies

China’s Hengrui seals US$15.2 billion deal with US pharmaceutical giant BMS

Company’s shares jump in Hong Kong and Shenzhen after tie-up that bolsters China’s growing drug innovation profile.

Stocks

After accounting overhaul, can Wuliangye share buys restore investor confidence?

Investors welcome Wuliangye’s multibillion-yuan share purchase plan after weak earnings and industry destocking hit sentiment.

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Artificial intelligence

Kimi developer Moonshot AI valued at US$20b as it navigates new IPO rules

Firm raised US$2 billion from investors including Meituan’s venture and China Mobile, taking total to US$3.9 billion in the last six months.

Moonshot AI, best known for its Kimi chatbot, saw its annual recurring revenue exceed US$200 million in April. Photo: Shutterstock
Britain

CK Hutchison exits UK’s largest carrier VodafoneThree in US$5.82 billion deal

Sale of 49 per cent stake marks CK Hutchison’s latest asset move, following disposal of UK Power Networks, as group builds cash war chest.

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Mainland China

WuXi AppTec posts record first-quarter revenue on strong global demand

Earnings top estimates as multinational pharmaceutical firms ramp up investment and partnerships in China.

Mainland China

Turning cast-offs into cash: China’s Zhuanzhuan looks to Europe, US for growth

From phones to luxury bags, the recycling platform wants to take its ‘trash to treasure’ model global as second-hand demand accelerates.

China’s recycling start-up Zhuanzhuan plans to tap into Europe and the US. Photo: Handout
Indonesia

Muddy yet clear-cut: how Chinese investors are turning jungle into a new capital

Chinese construction firms keen to cement trade ties with Jakarta through multimillion dollar projects to build a brand new centre of power.

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Construction started on a Chinese-invested commercial centre at Ibu Kota Nusantara, the future Indonesian capital, on September 22, 2025. Photo: Ralph Jennings
Biomedicine: Companies

How China’s ‘landmark’ drug pricing guidelines could be a boon for biotech

State Council calls for ‘value-based pricing’ for innovative drugs, a move researchers said would benefit private healthcare players.

Biomedicine: Companies

Chinese drug makers take on Western dominance in US$16 billion Parkinson’s race

The future of treating brain diseases could lie in non-invasive technologies, according to Chongqing Haifu Medical Technology.

Biomedicine: Companies

China’s drug makers are speeding up – will AI be their secret weapon?

Chinese biotech firms are striking big global deals as drug makers, but could artificial intelligence take them to the next level?

Illustration by Henry Wong
United States

Chinese firms drawn to Brazil as they seek anchor for Latin America expansion

Chinese brands like Mixue, BYD, and Geely are surging into Brazil, leveraging strong trade ties and local strategies for growth.

Chinese ice cream and beverage chain Mixue opened its first Brazilian store in Sao Paulo, on April 11, 2026. Photo: Reuters
Mainland China

China’s tea-drink shops thirst for profits as price wars dry up prospects

‘I am learning a hard lesson of how involution can destroy my business,’ a Shanghai shop operator says.

Mainland China

Splashing out: how much would you expect to pay for LV’s latest quirky man bag?

Offbeat designs may not drive sales, but they sharpen brand identity and attract individuality-seeking buyers, analysts say.

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Coffee

Chinese coffee brands need more than low prices to compete globally: analysts

Luckin, Lucky Cup, Cotti and Nowwa are expanding quickly overseas, but analysts warn success depends on consumer experience and quality.

A Luckin Coffee outlet in Manhattan, New York. Photo: Getty Images/AFP
Biomedicine: Industry Trends

Li Ka-shing’s CK Life unit eyes China fast track for cancer vaccine pipeline

Sequencio, CK Life’s new Hong Kong unit, is advancing about 20 cancer vaccine projects as China pathway offers faster route to human trials.

China manufacturing

BASF launches biggest overseas project in China with green-powered mega-site

German chemical giant opens US$10 billion Zhanjiang complex, its largest overseas investment, as Beijing courts foreign capital.

IPO

China’s Jiangsu Aidea eyes Hong Kong IPO as gateway to US, European Aids markets

Yangzhou-based drug maker views Hong Kong as a ‘good window’ for its international expansion in HIV and Aids treatments.

Liu Yan says Hong Kong has a flexible fundraising environment. Photo: Denise Tsang
Biomedicine: Industry Trends

China’s obesity drug makers take on global giants as Novo Nordisk patent expires

Patent expiry of blockbuster drug opens door for Chinese drug makers to challenge multinationals in booming weight-loss market.

Semaglutide generated about US$35 billion in global revenue last year. Photo: AFP
Hong Kong

China Mobile bets on Hong Kong as gateway for global computing flows

China Mobile opens new data centre and expands cables as Hong Kong is drawn deeper into China’s national computing network.

Shenzhen

Visa-free travel, rising foreign visitors boost luxury hotel growth in China

China’s luxury hotels thrive as visa-free policies drive international tourism, with Shanghai and Beijing seeing significant growth in high-end stays.

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Biomedicine: Companies

Rights to antibody drug from China’s Keymed change hands in US acquisition

Sichuan-based Keymed expects to receive up to US$320 million as a result of deal involving its autoimmune disease treatment licensed in 2024.

Gilead Sciences is one of many drug firms facing a revenue gap owing to expiring patents. Photo: Reuters
Artificial intelligence

OpenClaw, government support fuel rise of 1-person companies in China

Guangdong is the first provincial-level government to roll out comprehensive action plans to support AI-powered OPCs.

A setup session to install OpenClaw outside the Baidu offices in Beijing, March 17, 2026. Photo: Reuters
Shanghai

Shanghai certifies 30 overseas offices amid China’s investment sales pitch

The city welcomed a batch of new regional headquarters and R&D centres this week, as China continues its campaign to win back overseas capital.

Biomedicine: Companies

US reshoring drive casts shadow over China’s contract drug makers, analyst says

Strong order backlogs underpin earnings through 2027, but analysts warn longer-term demand is less certain as US firms reshore production.

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