SCMP World

Shares of major Hong Kong-listed insurance and financial institutions fell after reports indicated mainland Chinese authorities began taxing gains on offshore insurance policies purchased by mainland visitors. Prudential and AIA Group saw significant drops, with shares declining 5.9% and 6.6% respectively in early trading.

Australian dollar traders are closely monitoring Beijing's policy actions, as some analysts suggest the Chinese government's interventions to boost domestic growth could also lift the Australian dollar. However, the currency's actual exposure to China's economic policies remains complex and uncertain.

China’s SAIC Motor has extended its 20-year cooperation with General Motors through 2047, renewing their joint venture amid competition from domestic rivals. The partnership, which began in 1995, was extended following an agreement signed on Wednesday, with SAIC chairman Wang Xiaoqiu emphasizing leveraging strengths in...

Asia is facing a significant economic shift as an estimated US$5.8 trillion in wealth is set to transfer from founding generations to successors by 2030. Complex corporate holdings and cross-border lifestyles are complicating the execution of smooth succession.

Chinese and Western firms are increasing collaboration despite geopolitical tensions and government measures like tariffs and sanctions. Corporate deal-making is thriving as multinational executives prioritize business interests over political conflicts.

Hongkong and Shanghai Hotels plans to invest US$268 million to renovate its Hong Kong flagship hotel and Tokyo property, citing confidence in the luxury travel market's long-term strength despite geopolitical uncertainties. The company reported a return to profit in its interim results alongside the announcement.

Goldman Sachs raised its revenue forecast for China’s AI model market to US$13 billion, citing cost efficiency, technical breakthroughs, and aggressive price cuts by companies like DeepSeek and MiniMax. The investment bank increased its annualised recurring revenue projection by 30% from US$10 billion.

Haidilao International Holding is expanding into hamburger and sushi stores to diversify its business as its core hotpot business slows. The company follows American brands like McDonald’s and KFC, with Five Guys opening its first stores in Beijing.

Chinese unicorn Moonshot AI is pursuing a $50 billion fundraising round to prepare for a potential Hong Kong IPO by year-end, according to sources. The company is dismantling its offshore structure to facilitate the IPO process.

Chinese start-up X Square Robot has filed confidentially for an initial public offering (IPO) in Hong Kong, with Huatai Securities and Morgan Stanley as sponsors. Other domestic robot makers like AgiBot and Galbot have also filed for Hong Kong IPOs despite US trade restrictions.

China’s foreign exchange reserves remained stable despite a record $1.18 trillion trade surplus, as external earnings increasingly accumulated in domestic households, commercial banks, and corporations rather than central government reserves, according to an Institute of International Finance report. The country’s non-reserve sector, including banks and companies, holds significant external earnings in 2025.

BYD plans to debut its first humanoid robots in August as Chinese electric car makers expand into embodied artificial intelligence. Brazil has been named the largest buyer of Chinese cars, including electric vehicles.

Mainland Chinese investors purchased HK$62.9 billion worth of Hong Kong stocks in July through the cross-border Stock Connect programme, extending their buying trend from June as they shifted into undervalued markets amid volatility in AI-linked shares.

China’s stock market experienced a 7% decline in new A-share account openings in July, totaling 2.66 million, amid a global tech sell-off linked to artificial intelligence. Margin trading activity also slowed during the same period as investor appetite weakened following a strong first-half performance in technology shares.

China’s Ministry of Finance is raising 15 billion yuan (US$2.22 billion) through a sovereign bond auction in Hong Kong, part of an 84 billion yuan annual program approved by the State Council. The sale follows a new hedging tool launched in Hong Kong to help global investors manage mainland bond market risks.

An innovation platform backed by Ningbo’s city government acquired the Konnect office building in Wan Chai, Hong Kong, for HK$800 million. Analysts suggest this reflects growing interest from mainland government-linked institutions in Hong Kong’s commercial property market, which remains depressed.

Chinese AI company MiniMax open-sourced its new H3 video model but restricted free access in major overseas markets like the US, EU, UK, and South Korea due to copyright disputes. The licensing conditions highlight challenges in generative video AI copyright management.

SpaceX’s first earnings report as a publicly traded company and the unlocking of a large share supply will test the recovery of the artificial intelligence trade, which has boosted the S&P 500 and Hong Kong equities. The report and share availability are seen as indicators of investor confidence in the AI sector.

China’s new trust tax on offshore trusts is intensifying scrutiny of the ultra-rich, with property tycoon Pan Shiyi’s Cayman structure becoming a focal point. The tax imposes a 20% levy across a trust’s life cycle and is seen as a sharp escalation in monitoring capital flight.

Chinese electric vehicle (EV) makers and Tesla are competing in Western Europe, with Chinese brands' combined market share rising to 10.7% in Q2 2026 from 5.7% a year earlier. Rising EV demand and volatile oil prices are driving this shift.