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China’s quant hedge funds stock up on talent – at US expense
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Yuan Yu, founder of Shanghai-based quantitative hedge fund Mingshi, recognised an opportunity when several intern prospects studying in the US said they were struggling to complete their PhDs amid university funding cuts and stricter visa policies under President Donald Trump. “They told us that their supervisor’s funding had been cut, so they couldn’t continue their studies,” said Yuan, whose investment firm manages US$2.5 billion in assets. “They felt lost and didn’t know what to do. This...
I escaped a Chinese guoxue ‘reading group’. My friend is less lucky
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It all began with a WeChat message from my friend. We hadn’t seen each other in a while. She had left Beijing for a quieter, more remote town and her social media updates suggested she was diving deeper into guoxue – “national studies”, or the study of traditional Chinese culture – Buddhist philosophy and other spiritual pursuits. Her text read: “You should join our reading group. We’re studying classical Chinese texts. You will definitely love it.” She had been going through a rough patch:...
Taste of success: out with old, in with novel among Hong Kong’s food scene
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On a typical weekday in Hong Kong, as a typhoon loomed, customers braved the rain outside a Bakehouse branch in Causeway Bay, waiting to enter the social-media viral bakery, known for its sourdough egg tarts, artisanal breads and fresh pastries. It was a stark contrast to just weeks earlier in June, when Hong Kong’s four-decade-old, home-grown Taipan Bread & Cakes, inventor of “snow skin” mooncakes, closed its final branches. The closure came with an estimated debt of HK$16 million (US$2...
Chinese eyeing US degrees turn more discerning – is opportunity worth the risk?
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Jason Lin of Xiamen surprised his mother this year by applying to 10 undergraduate schools in the United States and receiving a US$15,000 annual scholarship from Brandeis University near Boston. There, he intends to earn a master’s degree in economics over the next five years. But to his mother, it’s like he’s venturing into the wild, compounding the anxiety parents often feel when their adult children leave the nest. She’s afraid of “instability” in the US. And Lin, 19, has concerns that even a...
US-India trade talks seen unlikely to produce deal by August 1 deadline
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Months of intense negotiations appear unlikely to produce a trade deal between the US and India before the August 1 deadline, despite US President Donald Trump having teased one for months as “coming soon”, according to three people familiar with the situation. One person described the current state of discussions as a “total mess” behind the scenes as Trump and his trade representative, Jameison Greer, continue to push for a pact that would secure greater market access for American produce,...
Hong Kong teen arrested for alleged drug trafficking after friend, 16, dies
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A Hong Kong teenager has been arrested for alleged drug trafficking following the death of his 16-year-old friend, in whose home police found cannabis and liquid methamphetamine, the Post has learned. The 17-year-old suspect was detained on Friday evening in Sau Mau Ping. The arrest came a day after a 16-year-old boy was found unconscious by his mother at their home in Heng Fa Chuen, Chai Wan, and later died at Pamela Youde Nethersole Eastern Hospital. Sources said the arrested teenager and the...
Trump’s copper tariffs fail to stop US metal being shipped to China
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Aaron Forkash, a scrap metal dealer based in California, plans to continue exporting copper to Asia even after US President Donald Trump’s new 50 per cent tariff on the metal comes into force on August 1. The Trump administration has said the import duty will help revive the US copper industry by making it more profitable to produce the metal at home. But the truth is that it is actually cheaper and easier for American scrap dealers to ship copper to China and other Asian economies than to...
League of Legends world championship returns to China as esports sector grows
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China this year will again serve as host to the League of Legends World Championship, the esports industry’s biggest tournament for a single title, raising hopes for another finals run by a mainland team. The annual professional competition, also known as the Worlds, will kick off in Beijing from October 14 and then move to Shanghai for the quarter-final and semi-final rounds from October 28 to November 2, according to US video game developer and tournament organiser Riot Games, a subsidiary of...
Home supply in Hong Kong projected to shrink amid sales revival
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The supply of new private homes in Hong Kong is projected to fall over the next four years as property developers booked more sales in recent months amid a revival in market sentiment. The number of homes was projected to drop to about 101,000 units through 2029, according to a quarterly projection published by the Housing Bureau on Friday. The estimated stock fell by 4,000 from March and by 8,000 from a year earlier, it said. The inventory has declined in the five past projections, the report...
Not worth it? Trump’s Arctic push stirs debate over China’s polar ambitions
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As US President Donald Trump reiterates his desire to acquire Greenland – part of a broader push to assert influence in the Arctic – Chinese scholars are debating whether the world’s second-largest economy should become more involved in the region, particularly by developing shipping routes. The Northern Sea Route (NSR) – the shortest passage between the Asia-Pacific region and western Eurasia – has drawn growing attention as global warming makes its icy waters navigable for longer periods each...
Hong Kong life insurance sales rise 43% in first quarter to hit record high
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Life insurance sales in Hong Kong rose 43 per cent in the first quarter to a record high on demand for protection and estate planning from high-net-worth customers and visitors from mainland China, as the city seeks to become a wealth management hub to rival global leaders like Switzerland. The industry wrote HK$93.4 billion (US$12 billion) worth of new life policies, up from HK$65.3 billion a year earlier, the Insurance Authority said on Friday. It was the highest first-quarter sales tally...
Pop Mart wanted to be China’s Disney. Now, it’s thinking bigger, CEO says
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A new wave of Chinese consumer companies, led by toymaker Pop Mart, is seeking a greater global presence, reflecting China’s strategic pivot towards exporting its brands, and not just products. “We originally hoped to become China’s Disney; now we hope to become the world’s Pop Mart,” the company’s founder and CEO, Wang Ning, said in an interview with state broadcaster China Central Television on Thursday. “We use China’s manufacturing industry and market to incubate artists from all over the...
Taiwan recall: shock waves expected no matter who wins ballots, analysts say
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Polling stations in Taiwan are set to open on Saturday as the island holds a landmark vote in a sweeping recall campaign that could tilt control of its legislature back to the ruling Democratic Progressive Party (DPP) and test whether anti-Beijing sentiment remains the defining force in Taiwanese politics. The unprecedented mass recall vote – set to begin at 8am Saturday, primarily targeting lawmakers from the main opposition Kuomintang (KMT) – has triggered intense political debate and could...
Indonesia’s wiretap pact could create digital dragnet for dissent, critics warn
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A wiretapping agreement between Indonesia’s prosecutors and the country’s biggest telecoms firms has drawn criticism from rights groups warning it could enable mass unchecked surveillance, even as officials defend the deal as a crucial tool for law enforcement. The memorandum of understanding, signed last month between the Attorney General’s Office (AGO) and four major telecommunications providers, allows prosecutors to access user data and intercept communications for investigative...
Same-sex partnership registration system needed in Hong Kong: authorities
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Hong Kong authorities have defended the need to set up an official registration system for same-sex partnerships, saying that record-keeping alone is insufficient to allow the government to verify marriages overseas. The bill, so far opposed by at least 41 members of the 89-strong Legislative Council, went through its first clause-by-clause examination by the bills committee on Friday morning, when the government rebutted lawmaker Erik Yim Kong’s suggestion to set up a record-keeping system...
EU-China cooperation ‘only right choice’, Premier Li says at business symposium
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China and Europe should foster a “healthy” economic relationship characterised by both competition and cooperation, the Chinese premier told European Union leaders and businesses on Thursday. At a business symposium held on the sidelines of the EU-China Summit on Thursday, Li Qiang urged both sides to find new grounds for collaboration. “China and the EU can further leverage their complementary economic strengths, focusing on areas such as services trade, technological innovation, the green...
Police slap bounties on 19 members of ‘subversive’ group ‘Hong Kong Parliament’
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The city’s national security police have placed bounties of up to HK$1 million (US$127,400) on 19 overseas activists involved in a group called “Hong Kong Parliament”, which they called “subversive” and accused of violating the Beijing-imposed security law by holding an unlawful “election”. The arrest warrants announced on Friday were for Elmer Yuan Gong-yi, Victor Ho Leung-mau, Fok Ka-chi, Choi Ming-da, Chan Lai-chun, Feng Chongyi, Sasha Gong, Ng Man-yan, and Tsang Wai-fan, who were accused of...
Hong Kong’s OSL Group raises US$300 million amid stablecoin anticipation
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Hong Kong-based OSL Group, the city’s first listed and licensed virtual-asset trading platform, said on Friday that it raised HK$2.36 billion (US$300 million) through the sale of existing shares, top-up subscriptions and new shares, amid heightened market anticipation around stablecoins. It was the largest publicly disclosed equity raise in Asia’s digital-asset sector to date, the company said on Friday. Hong Kong is set to allow stablecoin issuance under new regulations that take effect on...
Malaysian students allowed to stay at home as annual haze crisis begins
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Malaysia has advised parents in Kuala Lumpur and Selangor to keep their children at home instead of sending them to school as a toxic haze drifts over from seasonal fires in Indonesia. The thick smog has cast a grey screen over the capital’s skyline, leaving many complaining of burning smells and eye and throat irritation in the latest episode of Southeast Asia’s recurring transboundary haze crisis. Malaysia and Singapore are often the worst hit during the dry season, when forest fires and open...
Thailand-Cambodia border war drives mass exodus as attacks mount
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Around 100,000 people have fled clashes along Thailand’s border as Cambodia was accused on Friday of launching renewed rocket barrages and rival troops exchanged gunfire in a crisis that has left at least 15 Thais dead. A weeks-long stand-off erupted into open conflict on Thursday, with Thailand using F-16 fighter jets to strike targets inside Cambodia while salvoes of Russian-made rockets hit Thai territory. Both sides blamed each other for triggering the violence along at least six spots on...
Airport Authority poised to part ways with New World in 11 Skies mall
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Airport Authority Hong Kong is in talks with New World Development (NWD) to get a massive commercial property project at the heart of Hong Kong’s international airport back on track, according to several sources familiar with the matter. The authority is considering the option of seeking a new partner to undertake and complete the work at 11 Skies shopping centre, which was awarded in 2018, the sources said. The financial terms of the move are still under negotiation, they said, declining to be...
UK plans to restart extraditions to Hong Kong, sparking fears among activists
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The UK government is planning to reintroduce extradition cooperation with Hong Kong on a “case-by-case basis”, triggering fears that activists seeking refuge in Britain could be sent back to the city. The plan was revealed on Thursday by the UK’s Shadow National Security and Safeguarding Minister Alicia Kearns, who shared on X a letter from Security Minister Dan Jarvis to Shadow Home Secretary Chris Philp, in which Jarvis communicated the planned changes to the Extradition Act 2003. Jarvis said...
Hong Kong stocks snap 5-day gain ahead of latest China-US trade talks
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The run-up that drove Hong Kong stocks to the highest level in three and a half years took a pause on Friday before a new round of trade talks between China and the US over the weekend and the start of the earnings season. The Hang Seng Index fell 1.1 per cent to 25,383.07 at the noon break, halting a five-day, 4.8 per cent gain that sent it to the highest level since November 2021. The Hang Seng Tech Index dropped 1.7 per cent. On the mainland, the CSI 300 Index slid 0.6 per cent, and the...
Dialling down division: radio silence hints at Korean peninsula thaw
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North Korea has stopped jamming radio signals from the South, in what analysts see as a rare reciprocal gesture amid tentative steps towards lowering tensions on the divided Korean peninsula. The move came days after Seoul halted government-run propaganda broadcasts aimed at the North, with a senior South Korean official describing Pyongyang’s response as unexpected but telling. “We hadn’t anticipated that North Korea would stop its jamming signals, but it appears to be a reciprocal move in...
US commerce secretary says next week’s China trade talks could include TikTok
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TikTok may come up in trade talks with China next week, but if Beijing does not approve a divestment deal for Chinese owner ByteDance, the app will soon go dark in the United States, US Commerce Secretary Howard Lutnick said on Thursday. US President Donald Trump’s administration will allow TikTok to remain in the US “if it’s in American control, and … China can have a little piece or ByteDance, the current owner, can keep a little piece”, Lutnick said, speaking on CNBC. “Americans will have...
Leapmotor eyes global market with smart EV at half the price of Tesla’s Model 3
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Stellantis-backed Leapmotor has announced the latest phase in its global push by launching an electric midsize sedan that offers similar features to Tesla’s Model 3 at less than half the price. The Hangzhou-based electric vehicle (EV) builder said the B01, priced from 89,800 yuan (US$12,542) in mainland China, would target markets around the world as it pursued new growth engines amid cutthroat competition at home. “We are offering our answer to customers’ demand for an exquisite,...
China steps up to protect trade war edge as rare earth smugglers get creative
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Beijing has further institutionalised its export-control regime on critical minerals – widely considered a trump card held by Chinese authorities in trade negotiations with the US – as officials intensify crackdowns on smuggling. In the two months since China launched a campaign to combat illegal exports of strategic minerals, authorities have identified attempts by “a small number of lawbreakers” to circumvent regulations through various means, leading to escalating risks of illegal technology...
Hong Kong firms eye Chinese medicine opportunities on the mainland: HKTDC
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Beijing’s move to simplify the process for approving oral proprietary Chinese medicine (PCM) from Hong Kong to be sold across the border has created new opportunities for firms in the city to exploit the mainland’s 450 billion yuan (US$62.8 billion) market, according to Hong Kong’s trade promotion body. The streamlined procedures have opened a more convenient channel for Hong Kong companies to expand into the mainland, the Hong Kong Trade Development Council said in a report published on...
China win in first round of economic war with US a blessing and curse
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For almost a decade, since Donald Trump was first elected US president in 2016, China has tried to keep its world spinning a certain way. However, the decisions across multiple administrations in the United States, from outbound investment restrictions to technology trade rules, have disturbed the fragile ground China has stood on to develop and grow. Officials in Beijing have been searching for opportunities to turn the tide in their favour. Strangely, China’s salvation arrived in the form of...
China’s quest for AI self-reliance undeterred by Trump’s new action plan
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Despite recent concessions and shifts in rhetoric, US President Donald Trump’s new artificial intelligence action plan leaves the core of American policy towards China unchanged – maintaining tight restrictions on key technologies while accelerating deregulation and infrastructure support for his country’s AI giants. Analysts said the administration’s strategy would intensify the US-China tech rivalry, and with Washington unlikely to loosen its grip, China would have little choice but to double...
Chinese drones carry 180 tonnes of steel and concrete up mountain
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In an unprecedented show of China’s advanced civilian drone technology, a swarm of heavy-lift unmanned aerial vehicles (UAVs) has carried 180 tonnes of construction materials up a remote mountain in the country’s southwest, according to state media. State broadcaster CCTV reported last Thursday that the aerial operation had taken place in May at a solar power project in Xichou county in Yunnan province, where rugged karst terrain and cliffs made traditional transport difficult. The feat drew...
Hong Kong LGBTQ groups in push to get public’s support for same-sex rights bill
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At least four Hong Kong LGBTQ groups have launched a petition to drum up support for a bill that aims to grant certain rights to same-sex couples, with the legislation facing strong opposition from lawmakers. The joint action by Hong Kong Marriage Equality, Dear Family Hong Kong, Pink Alliance and Covenant of the Rainbow on Thursday came a day after the legislature convened its first meeting to scrutinise the government bill, in which only one lawmaker of the 15-strong committee openly endorsed...
China cuts back on pork as excess hog supply drives down prices
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In response to a persistent oversupply of pigs that has contributed to a steep drop in pork prices, China’s agricultural authorities have announced concrete plans to cut back on the country’s breeding stock. Measures should be taken to reasonably cull the sow population, reduce secondary fattening – feeding hogs past standard slaughter weights to increase margins – and strictly control new capacity to address the issue, said Minister of Agriculture and Rural Affairs Han Jun at a meeting on...
China sets out ethical guidelines for autonomous driving technology
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China has released ethical guidelines for autonomous driving technology, highlighting the need for user safety and technology transparency. Publishing the guidelines on Wednesday, the Ministry of Science and Technology said automated driving systems “must demonstrate a high degree of respect for human life and actively seek effective strategies to minimise harm”. Algorithms, models and other content related to the technology must be clearly documented and readily accessible for inspection, it...
Pop Mart sues 7-Eleven stores in US for alleged Labubu trademark infringements
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Chinese toymaker Pop Mart International is suing several 7-Eleven store operators in California for selling alleged counterfeits of its signature Labubu merchandise and infringing on its trademarks. The group’s Beijing, Singapore and US-based units, which hold the trademarks and copyrights, are seeking injunctions to stop 7-Eleven Inc and seven convenience store owners or franchisees from continuing to commit the offence, according to the July 18 complaint in a California district court. It is...
US and EU users open to Chinese AI models like DeepSeek: survey
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Most US and European Union respondents in a recent survey said they were open to using artificial intelligence models from China, underscoring the growing international popularity of tech innovation from the world’s second-largest economy. According to a report published this month by tech consultancy Artificial Analysis, which surveyed more than 1,000 users worldwide, 71 per cent of US respondents and 87 per cent of EU respondents expressed willingness to adopt Chinese large language models...
Tesla seeks a comeback in China with refreshed Model 3 and Model Y
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Tesla, faced with a shrinking market share in mainland China, plans to follow the lead of its local rivals by rolling out larger and longer-range variants of its Shanghai-made vehicles to entice consumers. A six-seat Model Y and an upgraded edition of the Model 3 that has an 800km driving range were likely to strengthen the US carmaker’s mainland deliveries in the coming months, but it might not be sufficient to regain its dominance in the country’s premium electric vehicle (EV) segment,...
European firms call for return to free and fair trade at China-EU summit
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European companies called for a return to the spirit of free and fair trade at Thursday’s highly anticipated China-European Union summit in Beijing, urging leaders to settle their policy differences and promote a level playing field for businesses in both markets. They expected the European side to press China on issues including reducing the bilateral trade imbalance, lowering market access and regulatory barriers, and ensuring equal treatment for foreign companies operating in the country. “I...
US agrees deals with Indonesia, Philippines – but are Chinese firms a step ahead?
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The United States has struck new trade deals with Indonesia and the Philippines, in a move analysts say could indirectly undercut China by reshaping regional supply chains and tapping rare earth reserves – even if Beijing is not explicitly targeted. Still, some analysts warn that efforts to counter China may deliver less than intended results, as Chinese firms are already adapting by localising operations across Southeast Asia. “Having failed to secure direct wins against China on tariffs and...
UK made ‘Armageddon scenario’ plan for mass Hong Kong exodus in handover run-up
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The UK government prepared a secret contingency plan dubbed “the Armageddon scenario” in the lead-up to the 1997 handover for the evacuation of millions of Hong Kong residents who might have wanted to flee the city, according to newly unsealed documents. The British national archive documents date back to 1989 in the period immediately preceding and following the Tiananmen Square crackdown. A number of scenarios and recommendations for UK authorities were outlined in the event Hong Kong’s return...
‘Rebalancing’ needed in China-Europe relationship, chamber president says
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This year marks half a century of formal diplomatic relations between China and the European Union, as well as the 25th anniversary of the founding of the European Union Chamber of Commerce in China. In this second entry in our series examining ties between the two powers, Ji Siqi speaks to the chamber’s president about business sentiment in a tense period for global trade. The president of the European Union Chamber of Commerce in China – the chief non-profit organisation advocating on behalf...
Singaporean chip tool maker ASMPT sees steady growth amid AI infrastructure boom
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ASMPT, a Singapore-based semiconductor equipment manufacturer listed in Hong Kong, sees steady long-term growth for the company, as the roll-out of more data centres spurs greater demand for artificial intelligence (AI) chips. “AI tailwinds are driving strong demand across both advanced packaging [AP] and mainstream businesses, and we achieved better-than-expected bookings for the first half of 2025,” CEO Robin Ng said on Wednesday, as the company reported its interim financial results. ASMPT, a...
Hong Kong lawmakers unanimously approve bill for tougher misconduct penalties
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Hong Kong lawmakers have unanimously given the green light for a bill that will expand the scope of financial penalties targeting legislators suspended for misconduct, as part of efforts to better monitor their performance. Eighty-eight lawmakers on Wednesday voted for the Legislative Council (Powers and Privileges) (Amendment) Bill during a 36-minute session that included speeches from four legislators and Chief Secretary Eric Chan Kwok-ki. The amendment will allow Legco to withhold pay and...
China names Zhejiang-born Ling Zhifeng to head the Special Service Bureau
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In a reshuffle of China’s top police agency, a public security chief who has crossed career paths with some of the country’s senior leaders, will head a body responsible for the security of leading officials. Ling Zhifeng, director of the Ministry of Public Security’s political department, has also been named a vice-minister and head of the Special Service Bureau, also known as the Eighth Bureau. This bureau is one of two agencies responsible for the security of senior Chinese officials. Its...
Alibaba’s Taobao sees 60% user surge in Thailand after local launch
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Taobao, China’s largest online shopping app owned by Alibaba Group Holding, is seeing rapid user growth in Thailand, as the platform expands its international presence in search of new growth opportunities. Just over a month after the launch of a localised version of Taobao, the number of new Thai users on the platform surged 60 per cent year on year, recent data from Alibaba International Digital Commerce Group (AIDC), the company’s overseas e-commerce division, showed. The Thai version of...
Hong Kong authorities have ‘ongoing legal duty’ to fulfil same-sex couples ruling
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Hong Kong authorities have an “ongoing legal duty” to fulfil their responsibilities related to same-sex relationships in response to a landmark court ruling, even if the legislature rejects a proposal to establish a recognition framework, the government has said. The government said on Wednesday that the judiciary had not and would not give any direct orders to either the executive or the legislature about fulfilling the requirements of the ruling. Authorities also argued that the proposal...
Marcos secures trade deal with Trump – but tariffs only drop 1 percentage point
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Despite weeks of high-stakes negotiations, the US offered only a symbolic concession in the trade deal clinched by Philippine President Ferdinand Marcos Jnr as he wrapped up his Washington visit on Tuesday, only agreeing to lower threatened tariffs from 20 per cent to 19 per cent. “It was a beautiful visit, and we concluded our Trade Deal, whereby The Philippines is going OPEN MARKET with the United States, and ZERO Tariffs. The Philippines will pay a 19% tariff,” Trump said, announcing the cut...
Houston to Taipei in 2½ hours? Possible, if US-Taiwan spaceport plans take off
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The United States and Taiwan are exploring the possibility of a groundbreaking spaceport partnership that could slash travel time between them from over half a day to only a couple of hours. According to the American Institute in Taiwan (AIT), which functions as the de facto US embassy in the absence of formal ties, the proposed collaboration will focus on suborbital flights – an emerging form of space transport in which a vehicle briefly exits the Earth’s atmosphere before re-entering and...
Beware of overseas spies bearing souvenirs, China warns travellers
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China’s top anti-spy agency has advised citizens travelling abroad to be wary of accepting souvenirs that could be used for surveillance. Items such as backpack charms, key rings, necklaces and earrings might have hidden spy functions, including cameras, listening devices and tracking features, the Ministry of State Security warned on social media on Tuesday. It said the public must understand national security regulations and exercise caution with these “modified travel souvenirs”. It added...