Day: May 11, 2025

Advertisement The Shenzhen-listed company started taking investor orders for a base of 117.9 million shares at a maximum offer price of HK$263. The firm can upsize the deal by exercising a size adjustment or “greenshoe” option to sell up to 38 million additional shares combined. The stock is scheduled to begin trading in Hong Kong on May 20. The top offer price was 1.5 per cent lower than Friday’s close in Shenzhen. The discount is significantly less than previous major deals in Hong Kong such as Chinese home appliance maker…

With reports circulating of a breakthrough in China-US trade talks, the offshore yuan jumped in value against the US dollar even as details of the dialogue’s outcome remained undisclosed. Advertisement After settling at 7.24 per US dollar at close of business Friday, China’s offshore currency had moved to 7.22 by Monday morning. China’s central bank has set the fixing rate for the onshore yuan at 7.2066 against the US dollar on Monday, compared to 7.2095 last Friday. Optimism has risen in the market, buoyed by expectations of constructive and tangible…

Authorities in Taiwan have come under fire for removing the “Han” category from demographic groups listed on the official information page, a move seen as an effort to further distance the island from mainland China. Advertisement The change comes as Taiwan’s ruling, independence-leaning Democratic Progressive Party (DPP) intensifies its efforts to promote the island’s indigenous identity while gradually eroding its historical and cultural ties with the mainland in various ways. The revised web page of Taiwan’s top administrative body, the Executive Yuan, categorises Han Chinese – the overwhelming majority on…

Yao Yang is a Chinese economist, professor and former dean of the National School of Development at Peking University. He is known for making bold comments and offering advice on China’s economic development and institutional economics. In this interview, he unravels the ongoing trade war between the world’s two largest economies and delves into overcapacity, technological innovation and China’s other economic quandaries. Advertisement This interview first appeared in SCMP Plus. For other interviews in the Open Questions series, click here. What’s your take on the current state and outlook for…

In the era of heightened geopolitical competition in nascent technologies, it is tempting to view the artificial intelligence (AI) race as centred around two key players – the United States and China. Advertisement At the Politburo’s April 25 economic-analysis meeting, Chinese President Xi called upon the nation to “achieve self-reliance and strength”, according to a Xinhua readout, and “secure a competitive edge in AI” – stopping short of naming the US. Reciprocally, the US views China’s growing technological prowess with wariness – perhaps best epitomised by the Framework for AI…