Latest news with #Mainland
South China Morning Post
4 days ago
- Business
- South China Morning Post
Beijing's reform could bring Hong Kong-listed Alibaba, Tencent to Shenzhen: HSBC
Beijing's latest reform to allow Hong Kong-listed companies to seek secondary listings in Shenzhen could bring mainland China's most valuable tech companies such as Alibaba Group Holding and Tencent Holdings home, according to an HSBC report on Wednesday. Mainland authorities on June 10 unveiled a sweeping set of guidelines that proposed allowing Hong Kong-listed companies to issue yuan-denominated A shares on the Shenzhen Stock Exchange. This initiative is a strategic effort to deepen Shenzhen's role as a financial hub, while also making the A-share market more attractive to both investors and issuers, HSBC analysts said. They noted that mainland markets lacked large-cap internet and technology companies, while the Hong Kong market was short on hard technology and advanced manufacturing firms. By allowing H to A listings, Beijing hoped to bridge the gap and 'deepen the reform and opening-up of Shenzhen', they added. Chinese tech giant Tencent could be among the Hong Kong-listed companies allowed to seek a listing in Shenzhen. Photo: Shutterstock While the guidelines did not specify which companies would qualify for H+A listings or include details about the application process, HSBC identified two main groups that could benefit from the reforms.
South China Morning Post
6 days ago
- Business
- South China Morning Post
Hong Kong stocks waver on China's mixed economic data; drug companies lead decline
Hong Kong stocks swung between gains and losses after China reported a mixed bag of economic data from May. The Hang Seng Index rose 0.1 per cent to 23,907.52 as of 10.23am local time. The Hang Seng Tech Index gained 0.4 per cent. On the mainland, the CSI 300 Index climbed 0.1 per cent, and the Shanghai Composite Index added 0.2 per cent. Drug companies led the decline. Wuxi Biologics slumped 6.3 per cent to HK$26.30, Sinopharm Group lost 4 per cent to HK$18.44 and Sino Biopharmaceutical retreated 2.7 per cent to HK$5.38. Tempering losses, Chow Tai Fook Jewellery Group jumped 5.4 per cent to HK$13.64 on higher gold prices. China Life Insurance added 2.7 per cent to HK$18.40, and China Merchants Bank gained 2.4 per cent to HK$53.10. Retail sales grew 6.4 per cent last month, the fastest pace since December 2023, the National Bureau of Statistics said on Monday. That exceeded all the estimates of the economists polled by Bloomberg.
South China Morning Post
15-06-2025
- Politics
- South China Morning Post
Beijing's top Taiwan official warns independence forces will bring ‘disaster' to island
Mainland China's top official on Taiwan affairs has called on both sides of the Taiwan Strait to oppose 'Taiwan independence and external interference' and promote closer integration. Advertisement 'Taiwan independence forces and their activities undermine national sovereignty and territorial integrity, disrupt peace and stability in our homeland, and incite confrontation and division among compatriots,' said Wang Huning , the fourth-ranking official of China's ruling Communist Party. He made the comments at the opening ceremony of the annual Straits Forum in Xiamen, Fujian province on Sunday. 'They will only bring disaster to the people of Taiwan,' added Wang, who is also chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), China's top advisory body Wang described cross-Strait relations, as well as the current international situation, as 'complex and severe'. Fujian provincial party chief Zhou Zuyi vowed to optimise the business environment for Taiwanese companies and adopt policies to promote integrated development, 'making new contributions to the great cause of national reunification'. Advertisement
Bloomberg
10-06-2025
- Bloomberg
Can Apple Salvage the AI iPhone in China?
If you thought Apple Inc.'s artificial intelligence woes in the US were bad, just know that they could actually be worse. Look at China. The AI iPhone features haven't even arrived on the mainland. And those holding their breath for an update at this week's Worldwide Developers Conference were again let down.
CNA
09-06-2025
- Business
- CNA
US-China rivalry poses challenges for deepening China-Hong Kong links
China has increased efforts to connect Hong Kong more closely to the mainland, both economically and socially. But with the US-China rivalry deepening, being so close to China has posed challenges for the city. CNA's May Wong reports from Hong Kong.
