China’s automotive sector braces for an escalating price war, and the intensified scramble for market share could hasten the closure of unprofitable laggards.
Chinese local government entities have carried the mantle of cornerstone investors in first-time stock offerings in Hong Kong in the past two years as foreign investors shun deals. Their outsize role could work against the city’s capital market, market experts say.
AeroHT, an affiliate of Chinese electric vehicle maker Xpeng, has started the countdown for the commercialisation of its flying car and plans to start taking pre-orders in the fourth quarter of this year.
China’s yuan has lost more value against the US dollar as interest rate cuts have yet to materialise, leading exporters to find whatever alternative assets they can until exchange differentials subside.
Overseas travellers from nine countries can make payments in Hong Kong using their mobile payment apps after Ant Group expanded its digital payment network via partnerships.
International marques are mounting a spirited fightback, focusing on reliability and safety, and providing a mixed bag of petrol and electric cars for a new generations of local customers.
Prices of second-hand homes have increased for the first time in almost a year as the recent removal of cooling measures gave a much-needed boost to the beleaguered property market.
Further discounts offered by carmakers in a price war in mainland China’s electric vehicle market could ensnare even the likes of top seller BYD, Goldman Sachs says.
The German carmaker, which saw its market share shrink in China last year, said it plans to launch 30 new electric cars on the mainland by 2030 as it vies to keep up with the rapid pace of electrification in the world’s largest vehicle market.
Net profit for the January-to-March period came in at HK$2.97 billion (US$380 million), or HK$2.35 per share, beating a consensus estimate of a 14 per cent decline and improving on the fourth quarter of 2023 by 14 per cent.
Hong Kong’s SMEs are more optimistic than their peers in mainland China, Singapore and Australia when it comes to growing their businesses this year, thanks to government support and an increase in online sales, a survey shows.
Hong Kong stocks climbed most in three weeks as investors ramped up their buying on expectations that a slew of supportive measures from the Chinese securities watchdog will aid sentiment.
Li Auto , Tesla’s nearest rival in mainland China, reduced the price of all its vehicles by up to 5.7 per cent, just a day after the US carmaker offered discounts to local customers amid an escalating discount war.
Chen Hongtian, who had snapped up mansions and offices in Hong Kong and London, faces demands from banks to repay more than US$200 million of overdue loans following the market slump.
BNP Paribas marks its re-entry into China’s market with hires, at a time when Morgan Stanley, Goldman Sachs and JPMorgan have all made rounds of job cuts in Hong Kong and China
Musk has ordered the company’s biggest lay-offs ever and staked its future on a next-generation, self-driving vehicle concept called the robotaxi. People familiar with his directives are unsettled by the changes the CEO wants to push through.
The ISSB, a sustainability-reporting standard-setting body, will vote this week to add biodiversity-related disclosures to its work plan, paving the way for such standards to become the global baseline.
Hesai, which released new products based on its ATX technology on Friday, is seriously considering building plants outside mainland China to capitalise on the growing use of the technology, CEO Li says.
Wars in the Middle East and Ukraine, and continuing lower US interest rates have burnished gold’s billing as an investment, but it is the unrelenting Chinese demand that is juicing the rally.
China’s capital market regulators have announced a package of measures to boost liquidity, attract international investors and enhance competitiveness between the mainland and Hong Kong.
Beijing-based Li Auto has priced the new L6 SUV from 249,800 yuan (US$34,509) onwards, 5 per cent cheaper than Tesla’s popular Model Y.