Hong Kong Times

Jollibee Chooses Hong Kong for Spin-Off Listing

Philippines-based Jollibee Foods Corporation plans to list a separated business in Hong Kong under executive Richard Shin, adding another Southeast Asian consumer company to the city’s fundraising pipeline.

Hong Kong-Peru Free Trade Agreement Takes Effect With Tariffs Removed on Most Goods

A new trade agreement between Hong Kong and Peru has entered into force, eliminating import duties on more than 91% of tariff lines and expanding commercial links between Hong Kong and Latin America.

Sino Land Profit Rises 14% as Underlying Property Earnings Remain Under Pressure

Hong Kong developer Sino Land reported a 14% increase in net profit as property valuation losses narrowed, though weaker underlying earnings showed continued pressure across the city’s commercial and residential real estate markets.

Hong Kong Monetary Authority Expands Generative AI Sandbox With Hang Seng and Manulife

Hang Seng Bank and Manulife Hong Kong have begun live trials in the Hong Kong Monetary Authority’s generative artificial intelligence sandbox, testing automated risk controls and advisory services for financial customers.

Shein Pursues Hong Kong IPO at $27 Billion Valuation

Fast-fashion retailer Shein is seeking a Hong Kong listing at a $27 billion valuation after encountering regulatory obstacles in the United States and Britain, providing the city with a potentially significant new international listing.

Momenta Plans Mass Production of Level 3 Autonomous Driving Systems by 2027

Chinese autonomous-driving company Momenta plans to begin mass production of Level 3 systems by 2027 and is considering a subscription model as domestic regulations adapt to more advanced vehicle automation.

Li Qiang Pledges Fair Treatment for Foreign Companies in Meeting With U.S. Business Group

Chinese Premier Li Qiang told the US-China Business Council in Beijing that China would address reasonable concerns raised by foreign companies and called on Washington to implement bilateral economic and trade agreements.

Chinese AI Chipmakers Gain Market Share as U.S. Export Controls Restrict Foreign Rivals

Domestic semiconductor companies are increasing sales of Chinese-made artificial intelligence processors as U.S. technology restrictions reduce access to competing foreign chips.

China Sends Additional Humanitarian Aid to Nepal After Glacier Collapse

China has dispatched a second batch of emergency supplies and technical specialists to Nepal aboard a Y-20 military transport aircraft following the deadly glacier collapse and mudslide on the Chhochen Khola River.

China’s State Pension Reserve Posts 13.2% Return, Best in Five Years

China’s National Social Security Fund recorded a 13.2% investment return last year, its strongest performance in five years, strengthening reserves as the country confronts an aging population.

Huawei Profit Falls as Research and Development Spending Reaches Record Levels

Huawei reported a sharp decline in profitability as the technology group increased research and development spending to address U.S. technology restrictions and expand its intelligent vehicle partnerships.

Shein Raises Up to $1.8 Billion in Hong Kong IPO at $27 Billion Valuation

Fast-fashion retailer Shein made a subdued Hong Kong market debut at a valuation of about $27 billion, well below earlier expectations as the company faces regulatory scrutiny and supply-chain concerns.

China Cuts Hidden Local Government Debt by Half in Two Years, Caixin Reports

China has reduced off-balance-sheet local government debt by 50% over the past two years, according to Caixin, easing a major source of financial pressure on provincial and municipal authorities.

China Manufacturing PMI Rises to 49.8 as Factory Contraction Eases

China’s official manufacturing purchasing managers’ index rose to 49.8 in August as production and new orders stabilized, although the reading remained below the 50-point threshold separating expansion from contraction.

China Ends Longstanding Dividend Tax Exemption for Foreign Investors

Beijing has abolished a tax exemption on dividends for foreign investors that had been in place since 1994, changing the treatment of overseas capital even as officials continue efforts to attract foreign investment.

Xi Jinping Travels From SCO Summit in Kyrgyzstan to State Visit in Egypt

Chinese President Xi Jinping concluded his participation in the Shanghai Cooperation Organization summit in Kyrgyzstan before traveling to Cairo, using the diplomatic tour to advance Belt and Road ties across Central Asia and the Middle ...

China Overhauls Property Credit Rules in Shift Away From Presale Financing

Chinese regulators are rewriting property financing rules to reduce reliance on the debt-heavy presale model, part of a broader effort to stabilize the housing market and limit risks tied to shadow banking.

Hang Seng Falls 0.9% as Technology and Property Shares Retreat

Hong Kong’s Hang Seng Index closed at 25,329 points after falling 0.9%, with Tencent and Alibaba among the technology stocks under pressure while major property developers also declined on concerns over interest rates and housing demand.

DBS Hong Kong Appoints Kyle Tan as Head of Global Financial Markets

DBS Hong Kong has named Kyle Tan as Managing Director and Head of Global Financial Markets from Sept. 1, strengthening the bank’s focus on cross-border institutional capital flows between mainland China and global markets.

Hong Kong Belt and Road Summit to Feature More Than $3.7 Billion in Investment Projects

The upcoming Belt and Road Summit in Hong Kong will showcase more than 300 investment projects worth over $3.7 billion, with a new focus on helping mainland Chinese companies expand overseas through Hong Kong professional services.

Cathay Pacific Launches Global Fare Campaign Across More Than 70 Destinations

Cathay Pacific has started a month-long sales campaign covering more than 70 destinations as the airline marks its 80th anniversary and seeks to increase passenger traffic through Hong Kong International Airport.

Hong Kong Launches HK$2.5 Billion InnoHK Cluster for Semiconductors and Space Technology

The Hong Kong government has committed HK$2.5 billion to a new InnoHK research platform spanning eight laboratories and 30 global institutions, with a focus on semiconductors, space manufacturing and advanced materials.

Hong Kong to Release First Five-Year Economic Plan With Mid-September Policy Address

Chief Executive John Lee is preparing to unveil Hong Kong’s first Five-Year Plan for Economic and Social Development alongside the annual Policy Address, setting longer-term priorities for housing, youth policy and integration with mainl...

InvestHK Targets Mainland Green Technology Firms With Hong Kong Capital Access

InvestHK is seeking to connect mainland Chinese energy-storage and electric-vehicle companies with international investors through Hong Kong, where 190 recognized ESG funds manage more than $139 billion in assets.

Shein Shares Fall Up to 10% in Hong Kong Debut as Valuation Drops to About $26 Billion

Shein shares fell as much as 10% in their first Hong Kong trading session after the fast-fashion group raised $1.7 billion at a valuation of about $26 billion, as investors weighed slowing growth, higher logistics costs and mounting tari...

Hong Kong Raises 2026 Growth Forecast to 3.5%-4.5% as AI-Linked Exports Surge

Hong Kong upgraded its 2026 real GDP growth forecast to between 3.5% and 4.5% after the economy expanded 5.1% in the first half, supported by a 50% rise in merchandise exports linked to artificial intelligence electronics.

China’s Big Three State Airlines Post 8.2 Billion Yuan First-Half Loss

China’s three largest state-owned airlines reported combined first-half losses of 8.2 billion yuan despite recovering passenger traffic, pressured by higher fuel costs and competition from the country’s expanding high-speed rail network.

China Tightens Immigration and Visa Rules Under New September Regulations

New Chinese regulations taking effect in September strengthen oversight of immigration services, expand verification requirements for foreign nationals and increase penalties for fraudulent visa applications.

Chinese AI Developer Zhipu Reports 400% Revenue Growth

Large-language-model developer Zhipu reported a 400% increase in revenue as adoption of its artificial intelligence services expanded across domestic enterprise cloud platforms.

China Promotes First Official Born in the 1980s to Vice-Ministerial Rank

Du Shangze, a 44-year-old political journalist, has been appointed deputy editor-in-chief of the People’s Daily, marking a notable generational milestone in China’s senior cadre promotion system.

Senior Jiangsu Official Liu Jianyang Placed Under Anti-Corruption Investigation

Liu Jianyang, a senior official in Jiangsu province, is under investigation by China’s top anti-graft watchdog, becoming the 48th senior cadre caught up in the campaign this year.

Momenta Plans Mass Production of Level 3 Autonomous Vehicles Under New China Rules

Chinese autonomous-driving company Momenta is preparing to mass-produce Level 3 vehicles after approval of new national safety standards, pairing the technology with a subscription-based revenue model.

China’s State Capital Budget Revenue Jumps 40% as SOEs Increase Treasury Payments

Central government capital budget revenue rose sharply after state-owned companies were required to transfer more profits to the treasury, providing additional fiscal support as local land-sale revenues decline.

Huawei Profit Falls as Record R&D Spending Supports Domestic Chip Development

Huawei reported a sharp decline in profitability as it increased spending on artificial intelligence chips and alternative supply chains, highlighting the financial cost of reducing reliance on technology restricted by US export controls.

Xi and Putin Pledge Deeper Strategic Coordination at SCO Summit

Chinese President Xi Jinping and Russian President Vladimir Putin agreed in Bishkek to expand security and economic cooperation as both governments pursue closer Eurasian coordination and greater insulation from Western sanctions.

China Sets 60 Trillion Yuan Retail Sales Target for 2030

China’s State Council has set a goal of lifting domestic retail sales to 60 trillion yuan by 2030 as policymakers seek to strengthen consumption and reduce reliance on export-led growth amid rising trade barriers.

China’s Factory Contraction Eases as August PMI Rises to 49.8

The Caixin manufacturing purchasing managers’ index increased to 49.8 in August, showing a slower industrial contraction as orders stabilized while weakness in services and construction continued to weigh on the broader economy.

China’s State Pension Reserve Posts 13.2% Return, Best in Five Years

The National Social Security Fund recorded a 13.2% investment return last year, strengthening the state pension reserve as China prepares for mounting fiscal pressures from an aging population.

China Says Hidden Local Government Debt Has Fallen 50% in Two Years

China’s Finance Ministry said off-balance-sheet borrowing by local governments has been cut by half over the past two years as Beijing presses ahead with deleveraging despite weaker regional infrastructure spending.

People’s Bank of China Unveils Five-Year Plan for Financial Opening and Renminbi Expansion

China’s central bank has released a 2026-2030 reform plan focused on wider use of the renminbi, greater two-way market access and expansion of cross-border payment and offshore currency infrastructure.

China Overhauls Property Credit Rules to Reduce Reliance on Presale Financing

Chinese regulators have introduced new housing finance rules aimed at reducing developers’ dependence on presale funds, part of a broader effort to lower financial risks and restructure the heavily indebted property sector.

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