A university student in Hong Kong who recently received a letter from Chinese President Xi Jinping has said that an ocean voyage, a food delivery app and having a curious mind have helped break stereotypes and bridge gaps between Chinese and American youths. Liu Runjie, a fourth-year electronic engineering student at the Chinese University of…
Hong Kong’s competition watchdog has launched a public consultation on food delivery platform Keeta’s proposed measures to ensure a fair market environment, after previously raising concerns about its exclusivity clauses. The Competition Commission said on Tuesday it had begun consulting on three commitments offered by Keeta under Section 60 of the Competition Ordinance, which would…
Hong Kong Exchanges and Clearing (HKEX) has unveiled its biggest listing reforms since 2018, broadening its special listing regime for innovative companies and opening the door for smaller and more diverse firms to list in the city, the bourse operator said on Friday. HKEX proposed lowering the minimum threshold for companies to list under the…
Overseas expansion and a commodity boom have put Chinese companies trading on the mainland in a position to beat their offshore-listed peers in earnings, cementing the outperformance of yuan-denominated stocks since the outbreak of Middle East hostility. The 300 largest mainland-traded companies may post average 2025 profit growth of 6.3 per cent during the coming…
The company behind Qdama, a mainland Chinese meat and fresh produce chain known for its hefty discounts that rise by the hour every evening until the products are completely sold out, is planning to go public in Hong Kong. Qdama International, set up in 2014, has grown to become the mainland’s largest meat and fresh…
China’s robotics industry may need at least five years before humanoid models reach a similar level of acceptance to electric vehicles, according to private equity firm Hermitage Capital, the latest voice warning of a potential bubble in the sector. The firm, which manages US$1.5 billion in assets, was an early investor in Chinese graphics processing…
Alibaba Group’s logistics arm Cainiao and online grocery business Tmall Supermarket are teaming up to expand fulfilment infrastructure and speed up deliveries, as the Chinese e-commerce giant ramps up its efforts in China’s fast-growing instant commerce battle to fend off rivals such as JD.com and Meituan. Cainiao will launch new or expand instant commerce warehouses…
China’s state broadcaster CCTV has come under fire over a short film that romanticises food delivery jobs. The film told viewers that such jobs offer “the freedom to enjoy the scenery along the way” and “brings delivery workers closer to their dreams”. Netizens slammed the video for glorifying hardship and suffering, describing it as being…
Hong Kong stocks dropped on Friday after four days of advances, as investors searched for fresh catalysts beyond expectations about a US interest-rate cut that reversed a tumble triggered by concerns about an artificial-intelligence bubble. The Hang Seng Index fell 0.2 per cent to 25,891.18 as of 11.13am local time. For the month, the benchmark…
A draft of the “Anti-Monopoly Compliance Guidelines for Internet Platforms”, published over the weekend by the State Administration for Market Regulation (SAMR), focused heavily on the sophisticated, often opaque ways in which online platforms with significant market power can exploit technological advantages to exclude rivals and harm consumer interests. The document identified eight “new risks”,…