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China economy
Mike Cai Wensheng of Meitu. Photo: Felix Wong
Hong Kong property

Meitu founder buys Hong Kong’s Ginza-style building for US$84 million

Meitu founder invests US$84 million in Hong Kong property to create a crypto/AI start-up hub.

E-commerce

Alibaba launches Taobao fast-delivery service ahead of schedule

Apple

Apple sales in China dip as US tariffs add to headache

E-commerce

Temu embraces local US sellers as Trump plugs ‘de minimis’ loophole

The shopping site is shifting its US business to a ‘local fulfilment model’, as tariff exemptions for low-value Chinese goods come to an end.

Temu has changed its US business model in response to President Donald Trump’s tariffs. Photo: AFP
Temu has changed its US business model in response to President Donald Trump’s tariffs. Photo: AFP
Artificial intelligence

Nvidia raises concerns about Huawei’s growing AI chip capabilities

US export restrictions on Nvidia’s chips to China could make Huawei’s chips more competitive, CEO Jensen Huang says.

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Robotics

Why car park operator Shoucheng is doubling down on China robotics investment

The company, a subsidiary of Chinese steel giant Shougang, plans to invest in about 50 robotics firms over the next two to three years.

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Electric & new energy vehicles

Chinese EV industry pits battery swapping technology against ultra-fast charging

The duelling technologies are aimed at soothing consumer anxiety about driving ranges.

Visitors look at a fast-charging battery from CATL. Photo: AP
Visitors look at a fast-charging battery from CATL. Photo: AP
DeepSeek

DeepSeek’s new maths-solving model is generating buzz, but mostly about R2

The Prover-V2 release has captured attention online, with many on social media wondering what it means for the start-up’s next reasoning model.

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Banking & finance

BlackRock-backed Suez taps HSBC to review China assets

A transaction could value the China water business at more than US$1 billion, sources say.

TikTok

TikTok confirms plans to build €1 billion data centre in Finland

Nordic countries have become attractive destinations for data centres as the colder temperatures reduce energy costs.

The TikTok logo is seen outside the company’s Los Angeles offices. Photo: AFP
Artificial intelligence

The SMC: what to see at the Shanghai AI incubator visited by Xi Jinping

The Chinese president toured the Shanghai Foundation Model Innovation Centre on Tuesday to highlight the country’s vast potential in AI.

An AI sign at the Shanghai Foundation Model Innovation Centre. Photo: Wency Chen
An AI sign at the Shanghai Foundation Model Innovation Centre. Photo: Wency Chen
Electric & new energy vehicles

Global carmakers ‘go local’ in China to claw back EV market share

More than a dozen new EV models from foreign giants at Auto Shanghai feature the latest Chinese technologies in battery, digital cockpit and self-driving.

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Artificial intelligence

Alibaba’s Qwen3 AI model family helps narrow US-China tech gap: analysts

It reflects Qwen’s current position as the world’s largest open-source AI ecosystem, surpassing Meta Platforms’ Llama community.

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Alibaba

Alibaba uses food delivery network to upgrade Taobao on-demand delivery

Food delivery service Ele.me is handling orders for Taobao Instant Commerce as e-commerce giants compete on speed.

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An Ele.me food delivery rider on the streets of Beijing on May 4, 2021. Photo: Shutterstock
Artificial intelligence

DeepSeek quietly updates open-source model that handles maths proofs

The Chinese start-up has released the Prover-V2 model a day after Alibaba released Qwen3, and ahead of an anticipated release of DeepSeek-R2.

DeepSeek’s quiet release of its latest open-source model for maths proofs comes amid a flurry of releases from Chinese AI firms. Photo: AFP
DeepSeek’s quiet release of its latest open-source model for maths proofs comes amid a flurry of releases from Chinese AI firms. Photo: AFP
US-China tech war

Chinese AI and robotics start-ups respond to Xi’s self-reliance call

The Chinese president met representatives from several AI and robotics start-ups during a visit to Shanghai.

SCMP Highlights

BYD’s new cut-price SUV, China’s shifting electric-car exports: 7 EV reads

From a Chinese robotaxi firm eyeing global expansion to Nio’s plans for right-hand-drive cars, here are seven EV stories you may have missed.

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Xiaomi

Smartphone giant Xiaomi unveils AI model, joining fierce competition in China

Xiaomi says its open-source MiMo reasoning model, trained completely in-house, rivals the performance of OpenAI’s o1-mini and Alibaba’s QwQ-32B.

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Xiaomi, which recently broke into China’s electric vehicle market, is now making its own artificial intelligence models as it looks to infuse its hardware with generative AI. Photo: AFP
Xiaomi, which recently broke into China’s electric vehicle market, is now making its own artificial intelligence models as it looks to infuse its hardware with generative AI. Photo: AFP
China property

Vanke’s quarterly loss deepens to US$860 million despite state support

The loss stemmed mainly from declines in home settlements and gross margins, Vanke said.

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Artificial intelligence

Pony.ai partners with Tencent to provide robotaxi services on WeChat

With access to more than a billion users on Tencent’s platforms, Pony.ai is set to significantly boost its revenue potential.

China Evergrande Group

Evergrande chairman Hui Ka-yan refuses to disclose assets, liquidators say

Hui expressed his intention to the court on April 23 that he would not be disclosing his assets, a lawyer for the liquidators said.

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Evergrande chairman Hui Ka-yan pictured in November 2017. Photo: Visual China Group via Getty Images
E-commerce

Temu adds tariff charges for US shoppers, as Shein also raises prices

Shipped-from-China items on Temu’s bestsellers list come with taxes exceeding the value of the product.

Shein and Temu are shifting US tariff costs onto American customers. Photo: Reuters
Shein and Temu are shifting US tariff costs onto American customers. Photo: Reuters
Artificial intelligence

Alibaba unveils Qwen3 AI models that it says outperform DeepSeek R1

The release comes just days after Baidu introduced two advanced models amid speculation about the imminent release of DeepSeek’s R2.

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Artificial intelligence

Geely-owned DreamSmart to push mobile payments via AI smart glasses

DreamSmart is working with Ant International to enable mobile payments for users of its StarV Air2 eyewear.

Artificial intelligence

Exclusive | China’s Tsinghua University snags top American AI researcher from Microsoft

Lamb will join the prestigious school’s College of AI and has already started accepting applications from prospective PhD and master’s students.

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Tsinghua University in Beijing started its College of AI in April 2024. Photo: Shutterstock
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