eChina.news

Economy

Mazda’s redesigned CX-5 lags in US market as gas prices favor hybrids

Lower tariffs, weak yen help automaker swing to quarterly profit With its lower production costs, Mazda's fully redesigned CX-5 is key to its profit outlook. (Photo by Hirotake Kitagawa) HIROSHIMA, Japan -- Mazda Motor has seen mixed results from its two midsize sport utility vehicle models in the U.S. market, with its redesigned flagship CX-5 struggling while a hybrid model enjoyed strong sales as gasoline prices rose.

August 6, 2026

Economy

Japan stock rally tempered by volatile South Korea market

Global investors increasingly trade AI-heavy Nikkei average and KOSPI as one Both the Japan's Nikkei Stock Average and South Korea's KOSPI gained sharply on Aug. 5. (Source photos by Nikkei and AP) TOKYO -- Japan's Nikkei Stock Average gained more than 2,000 points Wednesday, but many investors remain cautious about joining the rally as Japanese stocks appear increasingly linked to the volatile South Korean stock market.

August 6, 2026

Economy

Dollar faces summer turning point amid yen interventions, US jobs report

Employment figures weigh heavier on market even as seasonal adjustments are less reliable U.S. employment data due to be released Aug. 7 will be a key indicator for the direction of Federal Reserve policy. © Reuters TOKYO -- The dollar's long-running strength in foreign exchange markets shows signs of fatigue after yen-buying interventions bolstered the Japanese currency against the greenback, a shift that could be exacerbated by the upcoming U.S. jobs report.

August 6, 2026

Economy

Japan is buying yen in forex interventions. Where does it go?

Accounting rules mean gains are unlikely to be enough to cover food tax cut Japan has stepped into the currency market multiple times this year to support the yen. (Photo by Akira Kodaka) TOKYO -- Japan's recent foreign exchange interventions have some ruling coalition lawmakers hoping to use yen obtained through these operations to pay for the government's planned tax cut on food.

August 6, 2026

Economy

Japan’s Mizuno makes a play for India market with cricket gear

Athletic equipment maker sees promise as more people don't exercise enough Mizuno will begin with a focus on equipment for cricket, which is hugely popular in India. © Reuters MUMBAI -- Major Japanese athletic equipment maker Mizuno plans to launch sales in India this month, betting on a sports boom as incomes rise and many people do not get sufficient physical activity due to lifestyle changes.

August 6, 2026

Economy

Analysis: Xi Jinping shows signs of worry ahead of Beidaihe meeting

Xi Jinping and Cai Qi. Cai was recently seen in the seaside resort of Beidaihe, suggesting that preparations are underway in Hebei province for a conclave between Chinese Communist Party leaders and elders. (Nikkei montage/Source photos by Reuters and Kyodo) Intraparty coordination begins to prepare for supreme leader's US visit in September Katsuji Nakazawa is a Tokyo-based senior staff and editorial writer at Nikkei. He spent seven years in China as a correspondent, and later as China bureau chief, and was the 2014 recipient of the Vaughn-Ueda International Journalist prize.

August 6, 2026

Economy

Nuveen on lookout for more M&A deals after ‘perfect match’ Schroders: CEO

Asian target could bring bigger presence or more clients, William Huffman says Huffman told Nikkei that he hopes to conclude the Schroders deal later this year. (Photo by Shintaro Ino) TOKYO -- U.S. asset manager Nuveen will remain open to new acquisitions, including in Asia, after buying U.K. peer Schroders, CEO William Huffman told Nikkei.

August 6, 2026

Economy

Japan PM quells opponents of food tax cut by citing election pledge

Decision-making process demonstrates Takaichi's tight hold on ruling party Prime Minister Sanae Takaichi, center, with Internal Affairs Minister Yoshimasa Hayashi, left, and Transport Minister Yasushi Kaneko at the prime minister's office on Aug. 5. (Photo by Ken Suzuki) TOKYO -- Japanese Prime Minister Sanae Takaichi's cabinet has decided on a consumption tax cut on food, quelling pushback from cautious ruling party lawmakers by citing a campaign pledge for a general election that resulted in a history victory for the Liberal Democratic Party.

August 6, 2026

Economy

Xi purged his generals. Now he needs new ones

China's leader must rebuild denuded high command before PLA centenary Deputies to the 14th National People's Congress walk towards the Great Hall of the People for a meeting in Beijing on March 5. © Getty Images Christopher Nye is a nonresident fellow at the Jamestown Foundation.

August 6, 2026

Economy

South Korea to drop plan for ammonia use in coal plants: energy minister

Policy shift could hinder global production and supply chains of new energy source A power plant in the city of Incheon. South Korea's government aims to end coal-fired power generation by 2040. (Photo by Ahn Seong-bok) SEOUL -- South Korea will abandon plans to co-fire ammonia with coal at power plants, energy minister Kim Sungwhan told Nikkei, saying such a practice could extend the life of coal power and thereby counteract Seoul's decarbonization efforts.

August 6, 2026

Economy

Foreign ‘peace tourism’ to Hiroshima swells in troubled times

Tour of A-bomb memorials, World Heritage shrine ranked No. 2 experience worldwide Foreign visitors to Hiroshima, and sites such as Peace Memorial Park, have grown substantially in recent years. (Photo by Yo Inoue) HIROSHIMA, Japan -- The Hiroshima Peace Memorial Museum drew a record 945,000 foreign visitors in fiscal 2025, almost 40% of the site's total, in a sign of how conflicts involving nuclear powers are refocusing attention on one of the only cities to experience an atomic bombing.

August 6, 2026

Economy

Japan to air new TV drama episodes in Thailand in overseas content push

Government looks to expand live-action segment across Asia as anime dominates Hit TBS drama "Vivant" is one of five titles having new episodes broadcast in Thailand within days of airing in Japan. (Source photos by Nikkei and TBS) TOKYO -- The Japanese government is expanding a pilot project aimed at promoting the country's TV dramas in Thailand, in an effort to gauge overseas demand as it considers extending distribution to other Asian markets.

August 6, 2026

Economy

US oil exports plummet on stretched inventories, flat production

Trump's move to fight high gas prices ahead of midterms further strains reserves Crude oil storage tanks in the U.S. state of Oklahoma. The country's Strategic Petroleum Reserve has fallen to its lowest level in 43 years. © Reuters HOUSTON, Texas -- U.S. crude oil exports have dropped amid continuing uncertainty over the Iran conflict, potentially impacting importers such as Japan that had sought alternatives to Middle East procurement.

August 6, 2026

Economy

Suzuki starts flex-fuel race in India as Modi pushes homegrown energy

Government aims to use ethanol blends to cut reliance on Middle East oil imports Nitin Gadkari, India's minister of roads, center, and Hardeep Singh Puri, the petroleum minister, right, at the debut event for Maruti Suzuki's Wagon R. (Maruti Suzuki) MUMBAI -- Japan's Suzuki Motor was the first automaker to release a mass-market flex-fuel car in India. Now, others are following suit as the government seeks to reduce dependence on crude oil imports through support for biofuels.

August 6, 2026

Economy

For Taiwan’s tech suppliers, space economy could be next growth spark

Satellites, space computers and optics all become new areas for investments beyond Engineers of Pyras Technology assemble a CubeSat in a lab at National Central University of Taoyuan in Taiwan. (Photo by Lai Yung-Hsiang) TAOYUAN, Taiwan -- A growing number of Taiwanese tech suppliers are pivoting beyond the crowded consumer electronics market in search of growth opportunities in space.

August 6, 2026

Technology

Westlake University’s Yu Kaicheng Builds a Concept World Model and Speaks for the First Time

After a 100-million-yuan seed-plus-angel round, Awomo founder Yu Kaicheng makes his first public case for an implicit, concept-space world model that beats the data-driven scaling law he once helped write.

August 6, 2026

Technology

At the Embodied-AI Crossroads, WUWENAI Chose to Pave the Road

WUWENAI founder Liu Shengxiang bets that embodied AI's bottleneck is data. The startup built a closed-loop Real-to-Sim-to-Real pipeline that he says arrives months ahead of World Labs' SceniX move.

August 6, 2026

Technology

From Optical Modules to Optical Transport: Why AI Cannot Run Without China’s Supply Chain

LightCounting ranks seven Chinese vendors in the global optical-module top ten. As 1.6T ramps, the focus is shifting from pluggable modules to optical transport, silicon photonics, InP substrates, and CPO.

August 6, 2026

Technology

China’s Memory-Chip Decade: It’s Not Only About the Winners

Jinhua and CXMT both started in 2016 to break the Samsung-SK Hynix-Micron DRAM hold. A US blacklist froze one on the eve of mass production, while the other just rang the bell at the A-share IPO.

August 6, 2026

Technology

Behind Liang Wenfeng’s Viral ‘Hard-Man’ Memes, China’s LLMs Are Becoming a Global Catfish

DeepSeek V4 Flash tops OpenRouter's weekly global token-usage ranking at 7.1 trillion tokens, with four of the top five slots now held by Chinese models, forcing OpenAI to cut GPT-5.6 Luna pricing by 80%.

August 6, 2026

Technology

Behind Liang Wenfeng’s Viral ‘Hard-Man’ Memes, China’s LLMs Are Becoming a Global Catfish [id_only]

DeepSeek V4 Flash tops OpenRouter's weekly global token-usage ranking at 7.1 trillion tokens, with four of the top five slots now held by Chinese models, forcing OpenAI to cut GPT-5.6 Luna pricing by 80%.

August 6, 2026

Technology

Behind Liang Wenfeng’s Viral ‘Hard-Man’ Memes, China’s LLMs Are Becoming a Global Catfish [plain_ids]

DeepSeek V4 Flash tops OpenRouter's weekly global token-usage ranking at 7.1 trillion tokens, with four of the top five slots now held by Chinese models, forcing OpenAI to cut GPT-5.6 Luna pricing by 80%.

August 6, 2026

Business

‘Lyrical Maverick’ Peter Lai, who wrote multiple hits for Cantopop stars, dies at 76

Tributes pour in after sports commentator Eric Chung, a close friend, reveals Lai suffered stroke earlier in the year and died in a nursing home Legendary Hong Kong lyricist Peter Lai Bei-dak, who wrote the lyrics to a string of hits for the city’s Cantopop stars in the 1980s, has died at the age of 76, triggering an outpouring of condolences from fans of “The Lyrical Maverick”. Sports commentator Eric Chung Chi-kwong, a close friend of Lai, announced his death on Wednesday. He told the media that Lai had moved into a nursing home earlier this year after suffering a stroke and collapsing at home. He remained bedridden until his death. Condolences flooded social media as people expressed gratitude for Lai’s contribution, calling him a “grandmaster” and a “legendary genius”. “Thanks, thanks, thanks, thanks, Peter Lai, who can replace your place?” one user wrote, paying tribute to an iconic line written by Lai in the classic song “Monica” by the late singer Leslie Cheung Kwok-wing. “Thank you for the outstanding performances and works you have brought us over so many years,” a user commented. “Your talent was exceptional and deeply touched our hearts.

August 6, 2026

Business

What caused a near miss between 2 jets near Tokyo – and what can China learn?

The incident, which at one point saw only 20 metres separating the planes, offers lessons for Chinese regulators and operators, analysts say A near-miss on Tuesday involving an All Nippon Airways (ANA) plane coming dangerously close to another jet while approaching Tokyo’s Haneda Airport from Shanghai has thrown aviation safety back into focus – particularly, anti-collision technology and protocols – according to industry professionals based in China. While the intervention of one jet’s traffic collision avoidance system (TCAS) prevented contact between the two planes, analysts said there were lessons China could learn from the incident, given the other jet’s system failed to provide a similar warning. They also added China has “stringent” measures and systems in place to make such occurrences “less likely”, since safety would make or break Beijing’s aviation ambitions as well as the future of its home-grown airliners. Neither ANA nor JCAB immediately responded to requests for comment from the South China Morning Post.

August 6, 2026

Markets

Shares of major Hong Kong insurance, finance firms tumble following report of 20% levy

Prudential, AIA, and HSBC slid following report of the levy, though Goldman Sachs says profit fallout may be limited Shares of major Hong Kong-listed insurance and financial institutions tumbled on Thursday, after reports surfaced that mainland Chinese authorities had begun taxing gains on offshore insurance policies bought by mainland visitors in the city, reviving fears of tighter curbs on cross-border capital flows. In early trading as of 9.45am, Prudential, whose Hong Kong hub was its biggest profit driver last year, fell 5.9 per cent, while pan-Asian life insurer AIA Group dropped 6.6 per cent. Major banking giants with significant wealth management arms also tracked lower, with HSBC Holdings losing 4.1 per cent and Standard Chartered trading down 3.4 per cent. The sell-off was triggered by a report from domestic financial media outlet Caixin saying that Chinese tax officials in cities like Beijing and Hangzhou had begun imposing a 20 per cent levy on income from Hong Kong insurance products, including dividend distributions and interest on prepaid premiums.

August 6, 2026

Business

Heaps of documents, endless trials: the herculean workload of Hong Kong’s judges

My 18-year-old summer intern is very scared of me. She spent the entire week watching me sit in front of my computer, in complete silence, motionless except for the occasional click of the mouse to move to the next electronic document, and barely breathing. She told me this could not be further from what she imagined a barrister’s life to be. And there was one thing she was particularly puzzled by: why were there so many documents? There were, indeed, many documents – over 40,000 pages of them,...

August 6, 2026

Business

Hong Kong needs regenerated districts, not piecemeal renewal

The government should tie redevelopment of properties in old districts to Northern Metropolis development rights and create an urban regeneration authority The problems of old districts, however, have never been about insufficient floor space. They arise from deteriorated urban form, narrow streets, fragmented lots, inadequate public space and limited community capacity. Making the maximising of floor area the central criterion will only produce taller, slimmer towers that intensify congestion and undermine neighbourhood quality. The real deficit is the absence of an institution capable of orchestrating regeneration at the district scale. From a governance perspective, renewal patches up; regeneration restructures. Renewal improves buildings; regeneration restores urban functionality. Hong Kong must establish an urban regeneration authority capable of addressing the spatial and institutional issues that cannot be solved through lot-based redevelopment.

August 6, 2026

Business

Chinese couple lose US$15 million pig farm in false fraud arrest, raising justice questions

Upon release, the couple faced over 30 million yuan (US$4.4 million) in debt, yet they received a mere 410,000 yuan in state compensation A couple from central China saw their business empire, valued at 100 million yuan (US$15 million), collapse and were plunged into debt after being wrongly accused of fraud. Wang Fei and his wife, Liu Sumin, from Zhumadian in Henan province, began their journey as small-scale farmers before gradually establishing two pig farms. They later expanded into a medicinal herb cooperative and an agricultural technology company. According to Hongxing News, their businesses were valued at over 60 million yuan, while their total assets exceeded 100 million yuan. Wang was recognised as a “model worker” by the local government, while Liu earned accolades as a “skilled livestock farmer.” In pursuit of expansion, they bought land for a new factory and sold six flats to finance the project. However, in January 2023, before the facility was fully operational, local police detained them on suspicion of fraud.

August 6, 2026

Business

‘Artificial earthquake’ conspiracy theory sweeps Japan after Kumamoto disaster

Experts call the concept ‘unrealistic’, citing technological impossibility and high costs, as misinformation swirls online On July 28, the day the deadly earthquake hit Kumamoto prefecture, a user on social media who has previously shared false claims about earthquakes wrote that the “seismic wave is of an explosion, not a quake” in a post that has had around 3 million views as of Wednesday. Searches of posts mentioning an “artificial earthquake” in Japanese using an analysis tool from US firm Meltwater showed hundreds of references tracked in the days before the quake. They surged to about 10,000 on the day of the disaster and around 38,000 on the following day. While many posts reject the claims, assertions of a man-made origin to the disaster continue to be posted daily with tens of thousands of mentions. The Kumamoto earthquake struck at a depth of 16km (nine miles).

August 6, 2026

Business

Does Beijing really have the power to lift up the Australian dollar?

Currency traders believe Beijing’s economic policies could give the Australian dollar a boost. Analysts say things are more complex in reality Some analysts view the Australian currency as particularly sensitive to policy moves in Beijing. If China intervenes to boost domestic growth, that could also lift the Australian dollar, the theory goes. But in reality, the currency’s exposure to the world’s second-largest economy is more selective than commonly assumed, as the link mostly depends on Chinese commodity demand, Goldman Sachs said in a report released on Tuesday. At first glance, the Australian dollar “appears among the most China-sensitive” of the G10 currencies, a basket of the world’s most heavily traded currencies, according to Goldman analyst Lexi Kanter. Australia ranked as the G10 economy most exposed to an acceleration in Chinese final domestic demand, reflecting both direct exports and Australian inputs used by third countries to produce goods ultimately sold to China, the report said. However, much of the apparent connection between the Australian dollar and the yuan reflects their shared response to broad movements in the US dollar rather than a purely China-specific signal, according to Kanter.

August 6, 2026

Business

NTU vice-president Kuan Jimmy Hsia leaves Singapore for new Chinese university

AAAS fellow who held senior roles at University of Illinois and Carnegie Mellon brings decades of cross-disciplinary leadership The career of Kuan Jimmy Hsia, a prominent researcher in interdisciplinary mechanics, has long spanned two worlds – he is an acclaimed scientist and a skilled administrator who unites fields and stakeholders. A fellow of the American Association for the Advancement of Science (AAAS), Hsia has published more than 100 papers and made substantial contributions in the fields of high-temperature deformation, micro/nano mechanics and biomaterials. Now, the professor who combines the talents of an accomplished scientist and formidable manager is back in China. Last Friday, the Eastern Institute of Technology (EIT) in Ningbo in China’s eastern Zhejiang province announced that Hsia had joined the university full-time. Hsia said he joined for the opportunity to build a new system.

August 6, 2026

Business

How a Hong Kong luxury estate saved HK$1b in renovation cost with tech solutions

Ex-CEO of AsiaWorld-Expo Allen Ha says ‘homegevity’ model of targeted, consistent repairs can spare homeowners major renovation work Hong Kong homeowners could adopt technology-led preventive maintenance of older buildings to avoid costly large-scale renovation, with the upmarket Residence Bel-Air serving as a viable example that saved residents more than HK$1 billion (US$127.5 million). Allen Ha Wing-on, convenor of the Residence Bel-Air owners’ committee, said while the Wang Fuk Court tragedy was a wake-up call to transform the city’s decades-old practice of conducting major renovation works for ageing estates, the private housing sector could deploy technology to lengthen properties’ lifespan. He called the new concept “homegevity”, saying it would have far-reaching implications for not only for Hong Kong, but for most cities facing rapid urban decay. “It is a miracle that we made it after three years of hard work to overcome vested interests of various parties including owners of 2,800 residential units,” he told the South China Morning Post on Wednesday.

August 6, 2026

Business

Prabowo’s popularity slides in Indonesia amid economic anxiety, policy concerns

The decline reflects a disconnect between Indonesia’s still-respectable headline growth and how voters experience the economy, analysts say The poll by Saiful Mujani Research and Consulting (SMRC) put Prabowo’s approval rating at 51.1 per cent, down from 81.2 per cent in November and 66.4 per cent in March, while dissatisfaction with his performance rose from 16 per cent in November to nearly 47 per cent in July. “This decline in public satisfaction levels is closely related to the decline in positive sentiment towards economic, political and law enforcement conditions,” Deni Irvani, executive director at SMRC, said on July 29 during the release of the survey, which polled 749 respondents from July 5 to 19. The slide matters beyond domestic popularity, as Prabowo took office in October 2024 promising faster growth, stronger sovereignty and big-ticket social programmes in Southeast Asia’s biggest economy. If a presidential election were held today, the survey suggested Prabowo would trail West Java Governor Dedi Mulyadi, with only 14.5 per cent of respondents saying they would vote for him compared with 35 per cent for Dedi.

August 6, 2026

Business

Helicopter with Trump on board came too close to passenger jet

The incident raises questions about why the commercial plane was allowed to take off while Marine One was nearby The Federal Aviation Administration said a military helicopter carrying President Donald Trump on Tuesday was briefly too close to a passenger jet departing Reagan Washington National Airport, ‌but the US leader was not in danger. The incident raised serious questions about why the passenger plane was allowed to depart while Marine One was nearby, a time when commercial traffic is typically halted. Following a January 2025 crash between a military helicopter and a commercial jet that killed 67 people, the FAA barred mixed helicopter and jet traffic around the airport. “Based on our preliminary safety review, there was momentary loss of separation after which the aircraft continued to move away from one ⁠another,” the FAA said on Wednesday. Trump’s Marine One helicopter took off from the White House Tuesday afternoon, but air traffic controllers ‌had not halted commercial flights at Reagan National as required under a policy set last year following the collision, two sources said.

August 5, 2026

Business

China’s retaliation against US shows depth of its trade war strategy, analysts say

China’s latest export controls and sanctions against American companies in response to recent US measures underscore Beijing’s expanding economic toolkit and its growing willingness to deploy it, according to analysts. “The multiple actions that China undertook underscore the breadth and depth of China’s retaliatory toolbox,” said Wendy Cutler, the senior vice-president at the Asia Society Policy Institute. She added that Beijing’s latest response stood in “sharp contrast” to its “ability and...

August 5, 2026

Markets

How SAIC’s recharged venture with GM plans to catch up with top EV makers in China

Renewed partnership aims to roll out 30 EVs by 2030, pairing China’s supply chain muscle with GM’s global reach and loyal base SAIC and GM, the largest carmakers in China and the United States, respectively, in terms of sales volume, signed the agreement on Wednesday, building on a partnership that began in 1995 and led to the SAIC-GM joint venture in 1997. Wang Xiaoqiu, chairman of state-owned SAIC, said both sides should leverage their strengths in technology, branding, global distribution and local resources, opening new avenues for development with a global perspective. The renewal comes as sales from SAIC-GM and affiliates slumped from a peak of more than 4 million vehicles in 2017 to about 2.17 million units last year, according to data from SAIC. GM’s global car sales also shrank sharply to about 6.2 million units last year from over 10 million units in 2016.

August 5, 2026

Business

China’s Palantir? Private tech firms surge into defence AI, aiming to match US giants

The People’s Liberation Army is just a year away from its centenary goals in its evolution into a “world-class” fighting force. In this part of a series, Amber Wang looks at the growing influence of artificial intelligence in combat and the private firms stepping into the area. Roughly two months before the United States launched air strikes on Iran, a little-known Chinese technology company was watching an unusual pattern emerge on its screens. Drawing on open-source intelligence and artificial...

August 5, 2026

Business

China’s baby boom depends on gender equality, not cash handouts

China’s national childcare subsidy is an encouraging acknowledgement of a simple truth: raising children is expensive. This year, the central government allocated 99.9 billion yuan (US$14.8 billion) to the programme, which provides families with 3,600 yuan annually for each child under three. According to state media, the families of more than 25 million babies have received the subsidy as of last month. For families struggling with the cost of nappies, milk, clothes and healthcare, any...

August 5, 2026

Business

Progressive Abdul El-Sayed wins Michigan primary in jolt to Democrats

He defeated moderate Haley Stevens, who was backed by the Democratic establishment, in a vote seen as a test of the party’s direction The Democratic Party’s progressive ⁠wing scored a high-profile victory on Wednesday when Abdul El-Sayed won the party’s US Senate nomination ⁠in Michigan, giving its anti-establishment message a boost ahead of November’s midterm elections. El-Sayed, a doctor whose campaign focused on healthcare, the economy and an end to unconditional military aid to Israel, was the first progressive to win a statewide primary in a state that US President Donald Trump carried in 2024. He will face Republican former congressman Mike Rogers in November. The vote, billed as a defining test of the party’s direction, became an election-night cliffhanger between El-Sayed and US congresswoman Haley Stevens, a moderate supported by Democratic leaders and pro-Israel groups. With 99 per cent of the estimated votes counted on Wednesday, El-Sayed led Stevens 48.5 per cent ‌to 47.5 per cent, according to Associated Press. “My hope is that our democracy will never be the same,” El-Sayed said at a press conference on Wednesday.

August 5, 2026

Industry

Brazil to become regular borrower in China, treasury official says

Brasilia cannot guarantee debut will happen this year, but wants it repeated to give companies a yuan benchmark to aim for The debut is expected before the end of the year and is small enough that the government is not relying on the proceeds, with external debt at four per cent of the federal stock. “Given our size, it is much more qualitative than quantitative for now,” he said. “It is obviously a welcome resource, and it tends to be cheap. But it is much more about unlocking new investors.” What the treasury wants is a price, because selling Brazilian companies to Chinese investors is harder without a sovereign curve to borrow against, and Brazil has never had one in yuan.

August 5, 2026

Industry

China competition looms large in 2027 US defence bill

Even as Congress remains divided over the latest US defence bill, lawmakers in both parties remain united on one issue: China. The National Defence Authorisation Act (NDAA), which sets US defence policy and authorises military spending each year, reflects a broad bipartisan consensus on expanding Washington’s military, technological and economic rivalry with Beijing. While the House and Senate versions differ on a number of provisions, both include new measures on Taiwan, artificial...

August 5, 2026

Markets

From wealth transfer to living legacy: How Asia’s founders are architecting the future

As its latest research reveals a 'Knowledge Paradox' stalling succession plans, HSBC Life is building a comprehensive ecosystem to safeguard wealth, health, and family values. [The content of this article has been produced by our advertising partner.] Asia is on the precipice of a monumental economic shift. By 2030, an estimated US$5.8 trillion of wealth is expected to pass from the region’s founding generations to their successors. In today’s world, wealth is rarely held in one place or one form. Families increasingly live cross-border lives with complex corporate holdings - making succession a formidable challenge to execute smoothly. At the inaugural Legacy Continuum Summit recently hosted by HSBC Life in Hong Kong, the dialogue ventured far beyond traditional asset allocation. The event served as a real-world corroboration of a shifting paradigm: modern succession planning must safeguard not only financial portfolios, but also human capital, family values, and long-term health. “Legacy planning has become a matter of continuity,” Daisy Tsang, Chief Executive Officer of HSBC Life Hong Kong and Macau, said in her opening address. “In a cross-border world, good intentions are no longer enough.

August 5, 2026

Industry

US hawks push Trump on multibillion-dollar Taiwan arms deal ahead of Xi summit

Observers say US leader may be ‘miscalculating’ if he attempts to use the US$14 billion package to ramp up pressure on Beijing Washington has reopened discussions on billions in arms sales to Taiwan, casting a shadow over a leaders’ summit just weeks away – a meeting already burdened by bilateral trade frictions. Although observers doubt the deal will go through before Chinese President Xi Jinping’s trip to the US, they warn that Taiwan is a strict red line and any arms package could derail bilateral talks. The package remains under review by the Trump administration and was described by the US president as “a very good negotiating chip” with Beijing during his high-stakes state visit to China in May.

August 5, 2026

Economy

Shortages and strategic value: Sun shines for Australian tungsten miner

EQ Resources, biggest player outside China, funds expansion on rising prices Craig Bradshaw of EQ Resources says the tungsten miner has seen a sharp uptick in inquiries since China imposed dual use export controls on the metal. (Nikkei montage/Source photos from EQ Resources) CANBERRA -- For years, as cheap tungsten flowed from China, Craig Bradshaw would reach out to companies "looking to help them with a problem that they didn't know they had."

August 5, 2026

Economy

Temasek-backed Manipal Health rises in India market debut after $973m IPO

New shares worth 80bn rupees issued in year's second-largest initial offer so far Manipal Health Enterprises runs about 50 hospitals and is among India's top specialty care providers. © Reuters MUMBAI -- Shares of Manipal Health Enterprises, one of India's largest private chains of hospitals, listed 10.5% higher than the offer price of 590 rupees ($6.19) per share on the National Stock Exchange on Wednesday, amid hopes the country's primary markets will improve after a slow first half impacted by the U.S.-Iran war.

August 5, 2026

Economy

Myanmar’s Min Aung Hlaing to visit Thailand on quest for legitimacy

Anti-regime NUG urges ASEAN to keep pressure on the former military strongman Myanmar President Min Aung Hlaing attends a meeting with Chinese President Xi Jinping (not pictured) during a visit to Beijing on June 16. (Pool via Reuters) BANGKOK -- Myanmar President Min Aung Hlaing is set to visit Thailand on Thursday in a bid to gain greater international legitimacy as the former military strongman now leads a nominally civilian administration.

August 5, 2026

Economy

India’s central bank holds key rate to focus on growth momentum

Inflation in hand, Reserve Bank of India has kept rates unchanged this year The back and forth in the U.S.-Iran conflict, which has led to volatility in crude oil prices, has also complicated the central bank’s task of balancing growth with price stability. (Photo by Takanori Okabe) MUMBAI -- The Reserve Bank of India on Wednesday continued to hold its key policy rate at 5.25%, as a seemingly manageable rise in inflation has so far kept the central bank focused on spurring growth instead.

August 5, 2026

Economy

Yen stuck at 157 as markets weigh limits of US-Japan intervention

Traders leery of further action but unconvinced yen weakness is over Expectations for further foreign exchange rate intervention are making it difficult to push the yen significantly lower. (Photo by Shintaro Ino) TOKYO -- The yen is holding around the 157 level against the dollar, as traders assess the staying power of coordinated U.S.-Japan intervention and the likelihood of further action.

August 5, 2026

Economy

Indonesia’s GDP growth slows to 5.3% in Q2; economist doubts linger

Government's upbeat full-year forecast requires 'significant game changer' Shoppers buy groceries at a market in Bali, Indonesia, on June 29: Rising prices, particularly for fuel, have squeezed household budgets. (Photo by Ken Kobayashi) JAKARTA -- Indonesia's economy slowed in the second quarter as household spending eased in the absence of a major Islamic holiday and as the impact of the Iran war became more apparent, official data showed Wednesday.

August 5, 2026

Economy

Cathay books best 1st-half profit since 2010 as demand cushions war impact

Airline says it will invest $19bn in fleet upgrades while expanding network Cathay Pacific jets at Hong Kong's airport: The flag carrier has reaped strong earnings despite industry disruptions from the war in the Middle East. (Photo by Yuki Kohara) HONG KONG -- Cathay Pacific Airways on Wednesday recorded its second-highest earnings for a first half in history, as the Hong Kong flag carrier shrugged off the Iran war's impact on fuel costs and now looks to expand its fleet and global reach.

August 5, 2026

Economy

Japan cabinet approves move to cut consumption tax on food to 1%

Bill to be submitted to Diet while funding to cover shortfall remains unclear Japan's Prime Minister Sanae Takaichi at the prime minister's office in Tokyo on Aug. 5. (Photo by Ken Suzuki) TOKYO -- Japanese Prime Minister Sanae Takaichi's cabinet on Wednesday agreed on a bill to lower the nation's consumption tax rate on food to 1% from the current 8% for two years starting in April 2027.

August 5, 2026

Economy

Honda lifts full-year profit outlook on weak yen, strong motorcycle demand

Revised profit outlook tops market estimates as April-June net profit rises The Honda Motor logo is displayed at the Bangkok International Motor Show in Bangkok on March 23. (Photo by Ken Kobayashi) TOKYO -- Honda Motor announced on Wednesday that it expects a net profit of 400 billion yen ($2.5 billion) for the fiscal year ending March 2027, compared with a net loss of 423.9 billion yen in the previous fiscal year, supported by a weaker yen and strong motorcycle demand.

August 5, 2026

Economy

China hits back at US FCC bans with sanctions and drone curbs

Beijing also probes office equipment with foreign software ahead of expected Trump-Xi meeting People's Liberation Army members hold American and Chinese flags during U.S. President Donald Trump's visit to Beijing in May. © Reuters HONG KONG -- China on Wednesday announced a series of retaliatory measures against the U.S., including sanctions on a testing laboratory, marking a fresh escalation in trade tensions ahead of an expected meeting between the countries' top leaders next month.

August 5, 2026

Economy

Toyota aims for 2027 global output of 10.5m vehicles on hybrid demand

Automaker plans to make next-gen hybrid batteries in coming years Toyota's RAV4, a compact sport utility vehicle, is one of the automaker's popular models. (Photo by Azusa Kawakami) NAGOYA, Japan -- Toyota Motor plans to produce 10.5 million vehicles worldwide in 2027, seeking to bring the total over 10 million for the first time since 2023 on growing demand for hybrids.

August 5, 2026

Business

Hong Kong lawmaker fears Fun Coffee crypto scam duped over 1,000 as losses mount

Police say that total reported losses tied to Vietnam-based syndicate have climbed to HK$104 million, with 225 complaints received since last month A Hong Kong lawmaker has warned that an unfolding crypto scam run by a coffee investment venture based in Vietnam could involve more than 1,000 victims, as an investor reported losses of HK$14 million (US$1.73 million) across her team. The warning came as police said that total reported losses tied to the syndicate operating as Fun Coffee have climbed to HK$104 million, with 225 complaints received since last month. Six people earlier arrested on suspicion of conspiracy to defraud – a man and five women aged 51 to 64 – were released on bail on Wednesday, the force said. Legislator Johnny Ng Kit-chong on Wednesday said that he had received around 50 in-person appeals since last week, representing hundreds of alleged victims. He said it would not be surprising if the total number of victims exceeded 1,000. One investor, who did not disclose her name, said she was introduced by a friend to take part in short promotional videos, with each three-minute clip advertised as paying HK$7,000.

August 5, 2026

Business

Hong Kong urged to be ‘super partner’ in businesses’ overseas expansion push

Chinese General Chamber of Commerce chief Jonathan Choi says city should invest and operate abroad, while urging annual review of first five-year plan Hong Kong should act as a “super partner” helping enterprises expand into Asean, Middle Eastern, Central Asian and European markets, as well as build an annual review into its first five-year plan, one of the city’s oldest and largest chambers of commerce has said. The suggestions are among 65 that the Chinese General Chamber of Commerce put forward to the government on Wednesday, covering Hong Kong’s maiden five-year plan and the city leader’s final policy address of his term. Jonathan Choi Koon-shum, chairman of the chamber, said that in addition to being a “super connector” and “super value-adder”, the city should also take part in investment and operations. “Hong Kong runs over 10,000 enterprises in the Pearl River Delta, while our MTR and airport are very well run. There is also a lot of capital in Hong Kong with a lot of investments. We should look to upgrade ourselves to be a ‘super partner’,” he said. “When we go overseas, we’re not just connecting different parties and providing supporting services.

August 5, 2026

Business

UK Conservatives defend picking former neo-Nazi as election candidate

Joshua Bonehill-Paine was convicted in 2015 of racially aggravated harassment of then Labour MP Luciana Berger The leader of Britain’s opposition Conservative Party defended the selection of a former neo-Nazi who had been jailed for hate crimes as a local election candidate, saying on Wednesday that he was rehabilitated and could help fight ‌antisemitism. Joshua Bonehill-Paine was convicted in 2015 of racially aggravated harassment of Luciana Berger, then a Labour member of parliament, and had also been imprisoned for stirring up hatred against a north London Jewish community. His selection as a candidate for an election to Somerset council in southwest England drew condemnation from other parties and Jewish groups. Kemi Badenoch said what Bonehill-Paine did was “appalling” but he had disavowed his previous views and ⁠was fit to run for a local council, where he would be “looking at parking, sorting out bins”. “It’s not a ‌national platform ... This man is showing that he’s more than contrite,” Badenoch told the BBC, referring to Bonehill-Paine’s work with anti-radicalisation programme Prevent, adding she wanted to build a ‌movement against antisemitism in Britain.

August 5, 2026

Business

China urged to protect underwater cables amid growing fears of ocean sabotage

Prominent policy journal says Beijing should pass a law to close the gap between traditional maritime law and modern grey-zone warfare Beijing has been urged to create its own law to protect its underwater fibre-optic cables, as global fears grow over sabotage of critical ocean infrastructure. The recommendation by Shanghai Maritime University law professor Guo Ran comes amid growing threats to the undersea cables that carry about 99 per cent of global intercontinental data, including in critical chokepoints such as the Red Sea and the Baltic Sea. In recent years, China has introduced the Data Security Law and the Cybersecurity Law to tighten its grip on the digital realm, but these legal frameworks have focused on data processing and cross-border data flows, while physical seabed infrastructure has remained largely unregulated.

August 5, 2026

Business

China jails retired defence tech overseer for 10 years in US$6.3m corruption case

Zhang Jianhua used his influence in and out of office to help third parties with approvals and investment Zhang Jianhua, former deputy head of China’s State Administration of Science, Technology and Industry for National Defence, was sentenced on Wednesday by the Dazhou Intermediate People’s Court in Sichuan province, according to state news agency Xinhua. The court was told that between 2008 and last year, Zhang exploited his various leadership roles at the administration to help third parties with approvals and investment, accepting more than 43.38 million yuan in cash and valuables in return. Zhang’s roles included head of the administration’s finance and audit department, chief engineer and deputy director. Zhang netted 11.7 million yuan of the illicit earnings following his retirement in 2021, when he continued to use his influence to help others to secure improper gains in business operations and project contracting, state media reported. The court ruled that Zhang was guilty of directly accepting bribes and taking bribes through the exercise of influence, both of which involved “particularly large sums”.

August 5, 2026

Business

Food Expo vendors hoping for tasty profits with caviar sake gelato, other new products

Abalone for HK$1, handcrafted caviar mooncakes and discounted coffee and milk tea packs among products at next week’s Food Expo Some vendors at Hong Kong’s coming Food Expo have said they expect brisker sales and higher foot traffic compared with last year, citing better weather, discounts and creative products such as caviar sake gelato. The five-day expo is among five trade fairs that will open next Thursday, with more than 1,850 exhibitors in total from over 30 countries and regions taking part, according to organiser the Trade Development Council. Smilely Lam Yuk-fung, associate executive director of the council, said on Wednesday that the participation of international food companies showed the city’s strength as a culinary capital and platform to enter overseas markets. “Hong Kong has always leveraged its unique advantages as an international food trading hub,” she said.

August 5, 2026

Innovation

Disputes over AI, robotics, trade mount ahead of planned Xi-Trump summit in US

In the months leading up to President Xi Jinping’s planned September visit to Washington for a summit with US President Donald Trump, a series of smaller trade and technology rifts has emerged between the world’s two largest economies. From tensions over Chinese artificial intelligence models and new US restrictions on advanced robotics, to optical modules and an expanded forced labour blacklist, this piece breaks down the latest developments shaping US-China economic ties. 1. AI models under...

August 5, 2026

Business

Japan tests long-range Type 12 missile as counterstrike capability against China grows

First public flight test of upgraded Type 12 variant marks milestone in efforts to counter Chinese naval power The trial – which is designed to verify aerodynamic characteristics and structural loads ahead of separation and live-fire testing – brings Tokyo a step closer to fielding an indigenous family of long-range stand-off missiles that could be deployed from the land, sea and air. The ground-launched variant entered service in March as the Type 25, extending the range of Japan’s indigenous anti-ship missile force from about 200km to about 1,000km. Ship- and air-launched variants are expected to enter service around the next financial year. A submarine-launched version is in development. Defence expert Yoshihiro Inaba, the Japan correspondent for the Naval News website, said the air-launched variant offered platform flexibility, making it considerably more difficult for Chinese forces to predict where strikes could come from. “The introduction of this upgraded Type 12 fundamentally changes this equation by allowing strikes to be launched from the airspace over Kyushu, and even Honshu,” Inaba said.

August 5, 2026

Business

Chinese optical-module stocks rebound as analysts downplay ‘mild’ AI curbs proposed by US

FCC plan would preserve existing supplies while targeting next-generation products, forcing Washington to balance security concerns with cost of replacing Chinese capacity Shares of China’s leading optical-module makers clawed back early losses on Wednesday after analysts downplayed the impact of proposed US restrictions that could block the firms from future American AI data centres. They noted that the rules would likely leave current supply chains intact and face significant hurdles because of America’s heavy reliance on Chinese manufacturing. Zhongji Innolight ended the day down 7.3 per cent and 6.7 per cent in Shenzhen and Hong Kong, respectively, while Eoptolink Technology dropped 5.3 per cent and Suzhou TFC Optical Communication gained 2.3 per cent in Shenzhen. All three had tumbled sharply in early trading before recovering ground. In contrast, their US rivals surged on Tuesday, with Coherent closing 12.4 per cent higher and Lumentum gaining 8.9 per cent.

August 5, 2026

Markets

Chinese and Western firms are teaming up even as governments fight

To survive trade restrictions and regulatory barriers, companies on both sides are turning to joint ventures In an era defined by escalating geopolitical tensions and the weaponisation of supply chains, a counterintuitive phenomenon is taking root in the industrial heartlands of China, the United States and Europe. While governments in Beijing, Washington and Brussels engage in high-stakes chess matches of tariffs, export controls, sanctions and investment screening mechanisms, a parallel universe of corporate deal-making is flourishing. The prevailing logic among multinational executives is that state-level divergence does not necessitate commercial divorce. Instead, Chinese and Western manufacturing giants are increasingly aligning their interests through complex joint ventures and strategic production alliances, not in spite of government friction but as a direct hedge against it. This corporate pragmatism could transform joint ventures from mere tools of market access into sophisticated risk-mitigation vehicles designed to bypass trade barriers, localise supply chains and secure a foothold in multiple regulatory blocs at the same time.

August 5, 2026

Business

Netanyahu says Israel didn’t agree to US-backed Gaza plan as far-right pressure grows

The Israeli leader has received guarantees that the Israeli army would only need to leave its current positions in Gaza after Hamas disarms “We are checking this. They sent us a draft – we did not agree to it, it is not our draft. We sent our comments,” he said. Netanyahu met with the US-backed Board of Peace on Monday and received guarantees that the Israeli army would only be required to leave its current positions in Gaza after Hamas disarms. But pressure has been growing on Netanyahu from the right flank of his ruling coalition to reject the deal. Two far-right ministers requested a new vote on the plan Tuesday, saying it did not reflect what had originally been discussed. Israel’s security cabinet, in which the two ministers sit, already voted in favour of the proposal, which would see, among other things, the deployment of international peacekeeping troops in the Gaza Strip.

August 5, 2026

Business

Hong Kong woman swindles landlords out of HK$4.3m in crypto investment scam

67-year-old posed as a prospective tenant, paying rent upfront to gain landlords’ trust, before tricking them into a bogus scheme Hong Kong police have arrested a 67-year-old woman who posed as a prospective tenant to swindle two property owners out of HK$4.3 million (US$510,008) in a virtual currency investment scam. Investigators from the Western district crime squad said on Wednesday that the suspect had contacted two victims — who were separately advertising a flat and a parking space for rent — and offered to pay in advance to win their trust. She then persuaded them to join a supposed high-return investment scheme. To draw the victims in further, she gave them free mobile phones preloaded with a cryptocurrency investment app. Although the app itself was legitimate, police said it had been preset with fraudulent links that secretly handed control of the victims’ e-wallets to the scam syndicate. Once the victims deposited funds, the money was siphoned away.

August 5, 2026

Business

Why did a Chinese bomber carry a nuclear-capable missile in an anti-ship exercise?

PLA documentary showcases enough air power in its combination of the Jing Lei-1 on board an H-6N to cover ‘almost the entire Pacific Ocean’ The strategic bomber was seen in flight, carrying a massive missile under its belly, in the final episode of the documentary Securing Victory, which has been airing on state broadcaster CCTV as part of the celebrations of the PLA’s 99th anniversary on August 1. While CCTV did not name the missile, its giant size and unique body profile mean it is very likely to be the JL-1, according to military observers. Apart from some earlier sighting photos circulated online, Tuesday’s episode of the documentary was the first official confirmation of the missile being loaded onto a bomber.

August 5, 2026

Business

Copper floods US as traders try to get the jump on Trump tariffs, but ‘Taco’ trend looms

Traders ship more than 200,000 tonnes of the industrial metal into American ports in July to front-load anticipated levies, as fears of policy reversal persist IHS Markit shipping data showed that more than 200,000 tonnes of copper landed in the US last month – a 12‑year high for monthly inflows. This was said to have pushed the combined US-based inventories of the New York Commodity Exchange (Comex) and the London Metal Exchange (LME) above 740,000 tonnes. Furthermore, an additional 110,860 tonnes were being held in storage at US ports as of Friday, according to the LME. Bloomberg reported on Monday that stock levels at LME warehouses outside the United States had tumbled sharply this year. And the outflow was not limited to LME facilities, as analysts said the data showed Trump’s tariff threat was pulling copper out of the Chinese mainland. Lingang, one of Shanghai’s major bonded-warehouse hubs, has seen this trend unfold since the start of the year.

August 5, 2026

Business

‘Savage abuse’: Hong Kong mother gets 22 years for starving boy, 5, to death

Madam Justice Susana D’Almada Remedios says 37-year-old mother committed worst form of child cruelty, causing son to die of starvation in September 2022 A Hong Kong mother who abused and starved her five-year-old son to death was sentenced to 22 years in prison, with the judge condemning a crime that exposed a “savage nature utterly devoid of the empathy inherent to motherhood”. Madam Justice Susana D’Almada Remedios on Wednesday said she had to impose the heavy sentence on the 37-year-old mother, whom she said had committed the worst form of child cruelty and negligence, causing her son to die of starvation in September 2022. The boy weighed 9.7kg (21.3 pounds), about half the normal weight for his age, and was one metre tall at the time of his death. An autopsy indicated that he had 129 injuries on different parts of his body. The report also suggested the boy suffered prolonged abuse including force-feeding, gagging, gripping and violent rubbing. No food residue was found in his stomach, suggesting he had been starved for at least a few days before his death, according to the findings. The High Court earlier heard that the mother isolated the child in his room and allowed him to come out only a few times a week.

August 5, 2026

Business

Malaysia vows to tighten airport security after pilot’s drug arrest in Indonesia

The Malaysian pilot passed through several layers of checks at Kuala Lumpur International Airport before his departure to Jakarta Malaysian authorities vowed to identify and close security loopholes in its airports after a pilot allegedly transported drugs from the country before being arrested in Indonesia last week. “Malaysia Airlines will also revise their protocols for background and health checks on pilots and co-pilots,” Fahmi said. Authorities said the 39-year-old Malaysian pilot passed through several layers of checks at Kuala Lumpur International Airport before his departure to Jakarta’s Soekarno-Hatta International Airport, where he was caught with drugs in his luggage. The Malaysian police on Tuesday identified an airport employee as a person of interest while investigating how the pilot passed through checks with drugs in his luggage, according to a New Straits Times report. Indonesian authorities said on Friday they had arrested a Malaysia Airlines pilot accused of smuggling more than 26kg (57lbs) of Ecstasy and a package of methamphetamine shortly after he landed in Jakarta’s international airport.

August 5, 2026

Markets

Peninsula group to renovate Hong Kong flagship, Tokyo hotel in US$268m project

No timeline has been set, but the operator says it will minimise disruption while preserving the heritage of its iconic Hong Kong hotel The board also approved the capital expenditure programme for The Peninsula Hong Kong and The Peninsula Tokyo, which accounted for most of the group’s total HK$2.5 billion in outstanding capital commitments. “These capital expenditure programmes reflect our confidence in the long-term value of our owned portfolio,” CEO Benjamin Vuchot said in the group’s statement on Wednesday. “Preserving the heritage and character of the building is a key consideration,” said Lynne Mulholland, HSH general manager, group corporate affairs. While the timeline for the renovations was yet to be finalised, the hotel would aim to minimise disruption during the works, Mulholland added. The investment comes as Hong Kong’s tourism sector continues to recover, with international visitor arrivals supporting a rebound in luxury hospitality. For the six months ended June 30, HSH posted a profit attributable to shareholders of HK$23 million, compared with a loss of HK$289 million a year earlier.

August 5, 2026

Business

‘Devastated’: Tung Wah College says sorry for false admission offers to 11,000 hopefuls

Distressed applicants vent frustrations online following retraction of offers hours after being sent A tertiary institution in Hong Kong has apologised for mistakenly sending an email to all 11,139 of its applicants telling them that they had been admitted and asking them to pay an acceptance fee, saying the error was an administrative oversight. The blunder involving Tung Wah College (TWC) in Kowloon on Wednesday sparked angry complaints online for briefly raising the hopes of candidates who had yet to receive university offers, only to dash them hours later. More than 45,000 students using the city’s university entrance exam results to sign up for tertiary institutions through the Joint University Programmes Admissions System (Jupas) learned about their allocation results on Wednesday morning. A spokeswoman for the institution confirmed the blunder and apologised for the inconvenience caused in a reply to the South China Morning Post. “This morning, Tung Wah College intended to send an email to Jupas applicants who had been accepted by the college, reminding them to confirm their acceptance and pay the deposit before the deadline. However, due to human error, the email was mistakenly sent to all applicants,” she said.

August 5, 2026

Markets

China’s AI revenue projected to reach US$13b on breakthroughs, adoption: Goldman Sachs

Bank forecasts a sharp revenue surge after Chinese AI models slash costs, boost capabilities and capture global token share Goldman Sachs lifted projected year-end ARRs of Hong Kong-listed Zhipu AI and MiniMax to US$2.5 billion and US$1 billion, respectively. “We expect competition for the best performance-to-price balance to intensify among Chinese AI models,” the report said, noting that recent releases from domestic pioneers had reached new frontiers in performance per dollar. The heightened competition followed MiniMax’s launch last Friday of its H3 model under an open-weight approach. The multi-modal system – capable of processing text, image, video, audio and music – was priced at just 30 to 50 per cent of incumbent market levels, according to Goldman Sachs. On the same day, DeepSeek officially launched application programming interface (API) access for its V4 Flash model, achieving front-end coding capabilities that rival Zhipu’s flagship GLM-5.2. According to Arena AI’s latest leaderboard, GLM-5.2 ranks seventh in front-end coding globally, while DeepSeek V4 Flash closely follows in eighth place.

August 5, 2026

Industry

PLA scientists say submarine cables carrying 99% of global data could be ‘easy target’

Cables that support US$10 trillion in daily cross-border transactions could be increasingly vulnerable to attack from uncrewed vessels “The barrier to entry for undersea warfare is lowering,” Shi Guanglei and Shi Haiming from the National Defence University wrote in Science and Technology Daily, pointing to the Aukus pact between Australia, Britain and the United States as a key driver of this change. “In the past, underwater operations relied heavily on crewed submarines, which were expensive and posed significant risks to personnel, making it difficult for small and medium countries to conduct underwater military activities.” They added that small and medium-sized unmanned undersea vehicles (UUVs) were “low-cost, easy to deploy in batches and pose no risk of casualties, allowing countries to seize control of the seabed”. The article said undersea cables carried 99 per cent of intercontinental data traffic and played a key role in supporting online services and daily cross-border financial transactions widely estimated to be worth US$10 trillion.

August 5, 2026

Markets

Amid slowing hotpot growth in China, Haidilao takes on biggest American burger brands

As burger outlets crowd the domestic market, Haidilao attempts to expand amid declining demand for hotpot China’s largest hotpot chain Haidilao International Holding is aiming to further diversify its business with hamburger stores – following the example set by American brands like McDonald’s and KFC – and has also opened up more sushi stores to tap new growth drivers, as its core hotpot business shows slowing momentum. The domestic market is crowded with Western-style burger outlets, including Shake Shack and Burger King, and home-grown chains Slowboat and NewYoBo. “We don’t expect these sub-brands to make a major contribution to Haidilao’s earnings. Haidilao has been building sub-brands for years – it now runs more than 20 under its umbrella – but none has gained meaningful traction,” said Ivan Su, a director at Morningstar. “While the group can support them with a stronger supply chain and cost structure, China’s restaurant industry is hypercompetitive, and Haidilao’s brand halo doesn’t transfer to new concepts,” Su added. This is Haidilao’s second attempt at the burger business, after it launched the Hiburger brand in 2024 and closed the stores in 2025.

August 5, 2026

Innovation

Chinese data centre component firms hammered as US drafts ban

Shares in Zhongji Innolight dived as much as 16 per cent on Wednesday after a report the United States intends to ban Chinese-made optical transceivers from use in data centres being used to power the race to develop artificial intelligence (AI). The plan by the Federal Communications Commission (FCC) to halt imports of new models of optical transceivers – which convert data into light pulses and back again – is reportedly aimed at preventing Chinese firms stealing data, installing malware or...

August 5, 2026

Industry

Bangkok airport apologises after clash with Chinese tourists at boarding gate

Employee’s ‘inappropriate behaviour’ cited following incident in which celebrity’s fans were denied boarding over security concerns Bangkok’s Suvarnabhumi Airport has apologised for “inappropriate behaviour” following backlash over an employee making a slant-eyed gesture towards reportedly disruptive Chinese nationals. The apology came soon after Thai authorities insisted that individual clashes would not harm bilateral relations. In a statement on Tuesday night, airport management expressed regret over the “inappropriate behaviour and expressions of the personnel concerned”, noting that disciplinary action had been taken against the guard involved. The incident happened around 11pm last Wednesday when fans of a Chinese celebrity taking a Beijing-bound flight reportedly breached boarding area procedures and refused to cooperate with ticket and document checks, the airport said. According to the airport, the fans caused continuous disruptions, prompting officials to deny them boarding. Ten fans later refused to offload their luggage and engaged in “provocative behaviour towards the staff during the operation, which led to the incident that occurred during situation control”.

August 5, 2026

Technology

Tencent Expands International Access to Flagship Hy3 Model, Offers Free WorkBuddy Access Until Aug 31

Tencent rolls out its flagship Hy3 LLM internationally via WorkBuddy, Tencent Design Miora, and TokenHub — free on WorkBuddy until Aug 31, 2026.

August 5, 2026

Technology

Tencent rolls out Hy3 in WorkBuddy’s international edition with limited-time free access

Tencent has integrated its Hy3 large language model into the international edition of WorkBuddy, marking the model’s first rollout in the global version of the AI workspace. Users worldwide can access Hy3 at no cost through Aug. 31, 2026, Pacific Time, under a limited-time offer. WorkBuddy lets users issue natural-language instructions for tasks including research, data analysis, document and presentation creation, and workplace communications. Its international version launched in May, while Hy3 was released on July 6. Hy3 has 295 billion total parameters, 21 billion active parameters and a context window of up to 256K tokens. Tencent said the model recorded more than 68 times the API calls of its previous-generation model and ranked first on OpenRouter’s global LLM usage leaderboard within a week of launch. [TechNode reporting] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

August 5, 2026

Technology

Xiaomi open-sources embodied-AI foundation model Xiaomi-Robotics-1

Xiaomi has open-sourced its embodied-AI foundation model Xiaomi-Robotics-1, the company’s technology account announced on Aug. 5. The release covers the full process from real-robot post-training to model deployment and includes code for related benchmark evaluations. Xiaomi-Robotics-1 was pretrained on more than 100,000 hours of UMI data and post-trained on more than 10,000 hours of cross-embodiment data. Xiaomi first introduced the model in July as an “out-of-the-box” embodied-AI foundation model. The open-source release includes links to the project website, GitHub repository and Hugging Face page. [IT Home, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

August 5, 2026

Technology

When Quantum Meets AI: Six Academicians Chart a New Blueprint for Smart Computing

At the 5th CCF Quantum Computing Conference in Shenzhen, six CAS and CAE academicians outlined a national road map for AI-enabled quantum error correction and a unified quantum-supercomputing-AI infrastructure.

August 5, 2026

Technology

Safety Risks Behind China’s Top Open-Source LLMs: 76 percent Vulnerability Reproduction, Zero Refusal

An independent SaferAI audit of Zhipu's GLM-5.2 found cyber-offense capability on par with GPT-5.5 but a complete absence of content-filtering guardrails, exposing structural risks for open-weight releases.

August 5, 2026

Technology

China’s Optical Modules, PCBs, and Domestic AI Chips: A Day in the Market

Broker views from Nomura and Citi see limited damage from a hypothetical US optical-module ban, while Macquarie raised Biren Technology's target price 4.5x on new GPU wins and rising domestic chip ASPs.

August 5, 2026

Technology

The Next Hundred-Billion-Dollar Robot Battlefield May Be the Kitchen

Capital, home-appliance giants, and humanoid-robot startups are all converging on the Chinese commercial kitchen, with one industry projection putting the AI cooking-robot market above 109.6 billion yuan by 2030.

August 5, 2026

Technology

Xiaomi’s Longjia Battery: Why It Dropped CATL and BYD for Sunwoda and CALB

On its Pengcheng (Peng Cheng) crossover SUV, Xiaomi has dropped Contemporary Amperex and BYD as battery suppliers, switching to Sunwoda and CALB for its first self-developed Longjia battery pack.

August 5, 2026

Technology

Chinese commercial rocket company i-Space completes first tranche of nearly RMB1 billion Series E funding

Chinese commercial rocket company Beijing Interstellar Glory, also known as i-Space, has completed the first tranche of a Series E funding round worth nearly RMB1 billion. The investors are mainly bank-affiliated asset-management institutions, while the broader round remains under way. The funding will support R&D and batch production of the Hyperbola-3 reusable rocket, construction of capacity for the Focus-2 liquid-oxygen methane engine, launch and sea-recovery support, and preliminary work on heavy-lift launch-vehicle technology. [Jiemian, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

August 5, 2026

Markets

China’s Moonshot AI aims for US$50b round as year-end Hong Kong IPO targeted: sources

Unicorn dismantles offshore structure to pave way for potential listing as investor appetite surges after release of Kimi K3 model The company was expected to raise capital at a valuation of up to US$50 billion in this latest round, one of the sources said. The round, set to be its final fundraising before the IPO, comes shortly after Moonshot completed another financing round last month at a roughly US$30 billion valuation. The open-weights model outperformed leading US systems from Anthropic and OpenAI in certain capabilities, according to the company, bolstering Moonshot’s standing in a competitive domestic market.

August 5, 2026

Markets

China’s X Square Robot submits confidential filing for Hong Kong IPO, sources say

The start-up joins a growing list of domestic robot makers in China raising capital Chinese start-up X Square Robot has filed confidentially for an initial public offering (IPO) in Hong Kong, according to two sources familiar with the matter, joining a growing wave of domestic robot makers flocking to capital markets, despite new US trade restrictions. The Shenzhen-based firm has tapped Huatai Securities and Morgan Stanley as sponsors for the prospective float, one of the sources said. X Square and Morgan Stanley declined to comment, while the other companies and securities firms did not respond to requests for comment. The Hong Kong Exchanges and Clearing (HKEX) said it does not comment on individual companies. An expanding list of Chinese robotic makers is pursuing an IPO this year, spearheaded by Unitree Robotics, which began price consultations on Wednesday for a flotation on Shanghai’s Star Market. The Hangzhou-based company plans to sell 40.45 million shares, or 10 per cent of its enlarged share capital.

August 5, 2026

Technology

DeepSeek reportedly reopens talks on a RMB50 billion second funding round

DeepSeek has reportedly reopened talks for a second funding round targeting RMB50 billion, potentially valuing the Chinese AI company at about RMB500 billion before the financing. The talks could lead to an agreement in late August, but the terms and timing have not been finalized. The development is a reported financing discussion, not a completed fundraising round. DeepSeek’s earlier round raised more than RMB50 billion at a valuation above RMB350 billion, according to earlier reports. [IT Home, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

August 5, 2026

Technology

Chinese optical-module makers respond to reported US restrictions on imports

Chinese optical-module makers have responded to a report that the US Federal Communications Commission is drafting restrictions on imports of new Chinese data-center components, including optical transceivers. Zhongji Innolight said no relevant FCC document had been issued, while Eoptolink said it was monitoring the situation and could not verify the report’s authenticity. TFC said it was assessing the potential impact. The companies’ comments leave the reported restrictions unconfirmed, and do not establish that a new import rule has taken effect. [Yicai, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

August 5, 2026

Markets

China’s foreign reserves hold steady as external earnings stay in private hands

Hong Kong absorbed nearly two-thirds of mainland China’s portfolio outflows last year and now holds about half of the total external stock, IIF says China’s foreign exchange reserves barely budged last year despite a record US$1.18 trillion trade surplus, as the country’s massive external earnings increasingly wound up on the balance sheets of domestic households, commercial banks and corporations rather than in Beijing’s central coffers, a new report from the Institute of International Finance (IIF) shows. China has long been a major net creditor to the rest of the world. But in 2025, its non-reserve sector – banks, companies and investors operating outside the central bank’s reserve holdings – became a net creditor in its own right for the first time, according to the IIF report, published on Monday. “The institutional centre of surplus recycling has shifted,” wrote Gene Ma and Phoebe Feng of the global financial services trade group, adding activity had moved from the People’s Bank of China’s reserve portfolio and towards firms, investors and, above all, banks. The shift reflects a broader change in how China deploys its savings abroad.

August 5, 2026

Technology

Embodied-AI data infrastructure startup Kaiwang Data raises more than RMB100 million

Kaiwang Data (our translation of 恺望数据), a Chinese provider of data infrastructure for embodied AI, has completed a strategic funding round of more than RMB100 million. The round was jointly led by the Beijing E-Town Industrial Upgrade Fund, Huafang Capital and Skyline Capital (our translation of 天际资本), with several robotics companies also participating. The participating robotics companies included Lumai Robotics, Songyan Power, Zizibianliang Robotics and AGIBOT-affiliated Mifeng Technology. Kaiwang Data collects, labels and manages multimodal data for autonomous driving, world models and humanoid robots, covering first-person bare-hand video, tactile-glove data, gripper operations and panoramic footage. The company said its monthly output of usable data has stabilized at about 100,000 hours, and that it has secured bulk data-purchasing agreements with several major companies. The new funding will support data-trading platform development, world-model technology development and capacity expansion across commercial, industrial and household settings. [21 Finance, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox.

August 5, 2026

Industry

Trump claims China is fuelling resistance to AI data centres in the US

US president also threatens Iran with ‘a tremendous attack’ if it doesn’t comply with his demands on Strait of Hormuz “Look, whoever wins the AI race is going to win AI. It’s bigger than the internet. It’s bigger than maybe anything that has happened for literally hundreds of years.” Trump alleged that China was actively encouraging resistance to new AI infrastructure in the US. “The communities that are giving us a hard time, a lot of people think that’s China-oriented. You know that China doesn’t want these … They’re spending a lot of money on promoting ‘don’t … you know, build’ because we’re beating China in AI,” he said. Calling AI data centres a “tremendous thing”, Trump argued that the facilities brought significant economic benefits. He said many of the new plants generated their own electricity and could sell excess power back to the grid at low cost, helping reduce taxes while boosting nearby property values. Communities rejecting such projects, he warned, were “making a big mistake”. “We’re really doing a great job. I approved … It was my idea, actually,” Trump said.

August 5, 2026

Technology

Samsung, SK Hynix reportedly evaluate Chinese AMEC tools for China fabs

Samsung Electronics and SK Hynix are evaluating chipmaking equipment from China’s Advanced Micro-Fabrication Equipment Inc. (AMEC) for possible use at their Chinese factories, three people familiar with the matter said. The reported evaluations come as the South Korean memory-chip makers hedge against the risk of tighter US controls on equipment shipments to China. The evaluations do not establish that AMEC’s tools have passed production qualification, and there is no confirmed order from either company. Any move by Samsung or SK Hynix toward Chinese equipment would nevertheless mark a notable development for China’s semiconductor-equipment industry and the companies’ China-based manufacturing operations. [Reuters] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

August 5, 2026

Technology

ByteDance launches SeedRealtime full-duplex audio-video model

ByteDance has launched SeedRealtime, a native audio-video full-duplex model that can continuously process audio, video and text streams while listening and responding in real time. The model is designed to support interactions in which it can watch, listen and speak simultaneously. ByteDance has rolled the model out in the Doubao app, moving the technology from a research demonstration toward a consumer-facing product. The launch gives the company another model for real-time multimodal interaction alongside its text and image-generation systems. [Yicai, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

August 5, 2026

Technology

Huawei sets Aug. 5 launch for 18-inch foldable MateBook Fold

Huawei is set to launch a new 18-inch foldable MateBook Fold laptop on Aug. 5. The HarmonyOS device will be 7.3 millimeters thick when unfolded and will add stylus support to the MateBook Fold line. The flagship model uses a dual-layer OLED display with LTPO adaptive refresh, 3.3K resolution and a 75Wh battery paired with 140W fast charging. Huawei had not disclosed the price in the pre-launch information. [IT Home, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

August 5, 2026

Technology

DeepSeek V4 Flash tops OpenRouter weekly ranking with 7.22 trillion tokens

DeepSeek V4 Flash ranked first in OpenRouter’s weekly model-usage ranking for July 27 to Aug. 2, with 7.22 trillion tokens processed on the multi-model aggregation platform. On Aug. 1, the model processed 8 trillion tokens on OpenCode, including 5 trillion tokens consumed through free trials and 3 trillion paid by developers. V4 Flash is a high-throughput model aimed at developers and business users. Chinese models occupied the top four positions on OpenRouter’s weekly ranking, while DeepSeek’s V4 Flash 0731 and V4 Pro also ranked in the top six. The figures measure activity on the tracked platforms rather than DeepSeek’s total global usage. [Jiemian, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

August 5, 2026

Technology

Moonshot AI reportedly opens pre-IPO round at $50 billion valuation as Kimi K3 drives demand

Moonshot AI, the Chinese developer of the Kimi chatbot, has reportedly opened a G-round pre-IPO financing at a valuation of $50 billion. A person familiar with the deal said investor interest intensified after Kimi K3 launched, with institutions registering intended commitments. The same source said reports that Moonshot planned to file for a Hong Kong IPO this month were untrue, while the G round was still underway. Moonshot has not publicly confirmed the financing, and the amount being raised has not been disclosed. [21 Finance, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

August 5, 2026

Markets

BYD’s first humanoid robots; Brazil named biggest buyer of Chinese cars: 7 EV reads

We have put together stories from our coverage on electric and new energy vehicles from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. BYD to debut first humanoid robots in August as rivalry with Tesla intensifies Electric vehicle (EV) giant BYD plans to unveil its first humanoid robots within the next few weeks, as China’s electric car makers accelerate their push into the embodied artificial intelligence market. 2....

August 5, 2026

Industry

Narrow escape: how ANA flight from Shanghai avoided a collision at Tokyo airport

Flight NH968 lands safely with 197 on board after 2024’s deadly crash at the same airport and last year’s mid-air disaster in Washington An All Nippon Airways passenger jet took evasive action after coming close to a government inspection aircraft near Tokyo’s Haneda airport on Tuesday, in the latest aviation safety incident at the airport since a deadly runway collision in 2024. According to Japanese media reports, ANA flight NH968 from Shanghai was approaching the airport at around 6am on Tuesday when its traffic collision avoidance system (TCAS) was activated, warning of a potential collision risk with another aircraft. The Boeing 767, with 197 passengers and crew, was descending towards runway C when the pilots followed the TCAS instructions and climbed to avoid the other aircraft, the reports said, citing Japan’s transport ministry and the airline. The aircraft landed safely at around 6.10am and no passengers or crew members were injured. The other aircraft was a Civil Aviation Bureau-operated flight inspection aircraft, known as Dr White, which took off from runway D and was conducting checks on navigation and airport facilities, Japanese media said. The bureau is a division of the transport ministry.

August 5, 2026

Technology

TSMC’s 2nm monthly capacity to reach 100,000 wafers

As AI customers increasingly shift to more advanced 3nm and 2nm process technologies in pursuit of higher performance and lower power consumption, the surge in demand has prompted the world’s largest semiconductor foundry to adjust its production capacity plans. According to Taiwan-based Economic Daily News, citing supply chain sources, strong order momentum from major customers including Nvidia, AMD, and Broadcom is expected to help TSMC reach its year-end target of 180,000 3nm wafers per month ahead of schedule, potentially as early as the fourth quarter. TSMC has raised its capital expenditure for this year to $60 billion–64 billion, with around 70% to 80% allocated to advanced process technologies. The company is currently adding three new 3nm fabrication plants in Taiwan, Arizona, and Kumamoto, Japan, while continuing to convert existing 5nm production lines to support additional 3nm capacity. Meanwhile, demand for TSMC’s 2nm process remains robust, with monthly wafer production expected to reach nearly 100,000 wafers by the end of this year, in line with the company’s production roadmap.

August 5, 2026

Technology

Huawei sets Aug. 5 launch for 18-inch foldable MateBook Fold

Huawei is set to launch a new 18-inch foldable MateBook Fold laptop on Aug. 5. The HarmonyOS device will be 7.3 millimeters thick when unfolded and will add stylus support to the MateBook Fold line. The flagship model uses a dual-layer OLED display with LTPO adaptive refresh, 3.3K resolution and a 75Wh battery paired with 140W fast charging. Huawei had not disclosed the price in the pre-launch information. [IT Home, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.

August 5, 2026

Markets

Amid AI tumult, more Chinese investors seek haven in undervalued Hang Seng Index

Mainland traders poured US$8 billion into Hong Kong equities in July, eyeing refuge from global tech sector volatility, in a market trading at just 12.2 times earnings Mainland Chinese investors bought more Hong Kong stocks than they sold for a second consecutive month in July, rotating into the undervalued market to take shelter from the tumult in artificial intelligence-linked shares. A faltering in the global AI trade pummelled the mainland’s yuan-denominated stocks, particularly technology companies, over the past month, prompting investors to seek alternative assets that could relatively withstand the turmoil. The Hang Seng Index is among the cheapest key equity benchmarks globally, partly because of its low exposure to the AI frenzy. The city’s benchmark rose 13 per cent in July, defying sell-offs that roiled most of the world’s major markets, while the mainland’s tech-heavy Star Market 50 Index tumbled 26 per cent – its biggest monthly decline on record. “While risk-aversion rose, global funds didn’t pull out of equities significantly. And instead, they were seeking rebalancing across markets and sectors,” said Melody Lai, an analyst at SPDB International in Hong Kong.

August 5, 2026

Industry

Most Americans say US has not achieved war goals in Iran, survey finds

Marquette Law School poll also found 75 per cent of respondents nationwide did not believe the conflict was worth the cost The poll also found that 75 per cent considered the war with Iran not worth the cost, a slight increase from 72 per cent in April. “There’s a conversation and a negotiation that we are involved in between Oman and Iran, on how more ships can be able to go through there safely in the short term,” US Secretary of State Marco Rubio said on Tuesday. He added there had been “progress in talks, but not finality yet”.

August 5, 2026

Industry

How an amputee Chinese scientist is fortifying the country’s military software

After life-threatening emergency, researcher returns to help make the code behind weapons and defence equipment free of bugs Much of the global debate on Chinese military power focuses on hardware but a vital part of the modernisation process is in the niche field of software verification. Wang Ji, a computer science researcher at the National University of Defence Technology (NUDT), is mentoring a new generation of scientists to treat the software code in national defence systems with the same precision as doctors diagnosing patients. After losing both legs to a life-threatening emergency, Wang, 56, has stayed at the forefront of China’s military modernisation, leading efforts to secure the complex software underpinning the country’s most strategic defence assets. For his efforts, Wang was last week awarded the title of “role model of the times” by the Communist Party’s publicity department, adding to his recognition last year as a self-improvement role model with disabilities.

August 5, 2026

Markets

China’s stock market sees drop in new A-share, margin-trading accounts amid tech sell-off

The number of new accounts opened on the Shanghai Stock Exchange was down 7 per cent month on month The Shanghai Stock Exchange opened 2.66 million new A-share accounts in July, down 7 per cent from June, according to exchange data. That brought the cumulative tally for the January-to-July period to 22.82 million new accounts. Margin trading activity painted a similar picture. China Securities Data, a unit of the central securities depository for mainland China’s stock exchanges, said 139,400 new margin-trading accounts were opened market-wide in July, down 22.12 per cent from June. The pullback coincided with a rout in mainland technology shares in July. The CSI 300 Index, which tracks the 300 largest and most liquid stocks listed on the Shanghai and Shenzhen exchanges, dropped about 13 per cent in July, while the Shanghai Composite Index fell about 5 per cent. Electronic chemicals, semiconductors and optical-module makers bore the brunt of the decline. Hong Kong-listed chipmakers have also seen volatility. In Hong Kong, stock prices of GigaDevice Semiconductor tumbled about 45 per cent, while Montage Technology dropped more than 26 per cent.

August 5, 2026

Innovation

Tencent ramps up overseas AI push with wider roll-out of flagship Hy3 model

Hy3’s release is the first major update in Tencent’s AI strategy since former OpenAI researcher Yao Shunyu joined the Chinese tech giant On Wednesday, the Shenzhen-based technology giant rolled out Hy3 to global developers, enterprises and users through its workplace agentic tool WorkBuddy, creation studio Tencent Design Miora and model platform TokenHub. According to Tencent, Hy3 would be available free of charge worldwide on WorkBuddy until August 31. The move to broaden international access followed the official launch of the model last month. Hy3 would enable organisations to “move beyond AI experimentation and put intelligence to work in practical, trusted and scalable ways,” said Poshu Yeung, senior vice-president of Tencent Cloud and head of the unit’s international business. The model’s application programming interface call volume had increased more than 68-fold compared with the previous generation, and it had topped the global large language model usage leaderboard on tracking site OpenRouter in the first week of its launch, according to the company.

August 5, 2026

Economy

Toyota’s earnings increasingly tied to US market, Trump policy swings

Potential changes to USMCA trade deal risk adding $1,200 in costs per vehicle Toyota Motor increased its U.S. sales volume for the April-June quarter while GM and Ford declined. (Photo by Shintaro Ino) NAGOYA, Japan -- Toyota Motor is becoming increasingly reliant on the U.S. market for steady sales, which in turn exposes the Japanese automaker to the risk of sudden policy shifts under President Donald Trump.

August 5, 2026

Economy

SoftBank builds out AI sphere with stake in 7-Eleven owner

String of partnerships aimed at gathering valuable industrial and retail data SoftBank Corp. CEO Junichi Miyakawa said the investment in Seven & i will help his company support a new form of retail with AI and robots. (Photo by Hikaru Yagi) TOKYO -- SoftBank Corp. is moving to harness vast troves of data from Japan's industrial and retail sectors, including through a recently announced investment in 7-Eleven operator Seven & i Holdings, as it looks to build an artificial intelligence economic sphere.

August 5, 2026

Economy

Japan weighs use of Palantir, Anduril AI systems for defense forces

Tokyo would deploy US tech for quick implementation, with homegrown AI eyed for oversight Japan is looking to speed up decision-making while integrating operations, considering options that include using multiple U.S.-made AI systems overseen by a domestic one. (Nikkei montage/Source photos by Kyodo) TOKYO -- Japan's government is considering deploying multiple U.S.-made artificial intelligence systems in command and control for Self-Defense Force units to enable faster decisions while further integrating operations with the American military.

August 5, 2026

Economy

US-Japan yen intervention reflects pragmatism behind show of ‘friendship’

Lending dollars with Treasurys as collateral avoids disastrous debt sell-off U.S. Treasury Secretary Scott Bessent and Japanese Finance Minister Satsuki Katayama have both mentioned the use of a repo facility in the coordinated yen intervention. (Nikkei montage/Source photos by Reuters and Nikkei) NEW YORK/WASHINGTON -- The intervention by the U.S. and Japan to shore up the yen involved Washington lending dollars with Treasury bonds as collateral, a practical move aimed at preventing a Treasurys sell-off by Tokyo even though U.S. President Donald Trump called it a "signal of friendship."

August 5, 2026

Economy

Japan banks raise rates for large deposits, eyeing property sale proceeds

Specialized products draw well-off clients but offer little to small depositors Banks are competing for deposits to finance their increasingly profitable lending operations. (Photo by Toshiki Sasazu) TOKYO -- Japanese banks are increasingly competing on interest rates for major deposits as they target gains from real estate transactions and inheritance funds.

August 5, 2026

Economy

South Korea seen intervening in currency market alongside Japan

SK Hynix converting dollars raised from its U.S. listing into the won apparently contributed to the stronger South Korean currency. (Source photos by Reuters) TOKYO/SEOUL -- The South Korean won remains firm against the dollar amid signs that Seoul intervened in the market to prop up the currency in tandem with Japanese authorities.

August 5, 2026

Economy

Furukawa Electric to spend $635m in Japan, US, Brazil, India amid AI boom

Japanese cable maker to produce more optical fibers serving data centers Demand is growing for Furukawa Electric's fiber-optic cables as data centers that power AI require more communications capacity. (Furukawa Electric) TOKYO -- Japanese cable maker Furukawa Electric plans to double production capacity for optical fiber to meet rising demand as the artificial intelligence boom drives data center construction.

August 5, 2026

Economy

Elon Musk’s space data center vision reshapes Asia’s launch industry

Space-based data centers and telecommunications services have become a key focus for Elon Musk and SpaceX, which could open up opportunities for rival launch providers. (Nikkei montage/Source photos by Reuters and Getty Images) Japanese launch providers see chance to compete with SpaceX's Starship on weak yen TOKYO -- When Rocket Lab Chief Financial Officer Adam Spice visited Tokyo last month, he found that enthusiasm for space had spread well beyond Silicon Valley.

August 5, 2026

Economy

Mitsubishi Motors to expand Pajero SUV revival with midsize model

Japan automaker develops popular vehicle into series to drive domestic sales The Pajero gained popularity in Japan in the 1990s with its offroad capabilities. (Mitsubishi Motors) TOKYO -- Mitsubishi Motors plans to launch a midsize version of the newly revived Pajero SUV in Japan as early as fiscal 2028, followed by a compact version, as the automaker seeks to strengthen its off-road brand image and boost domestic sales.

August 5, 2026

Economy

Northeast Asia’s nuclear deterrence is maturing faster than its diplomacy

A nuclear-powered Type 094A Jin-class ballistic missile submarine of the China's People's Liberation Army Navy is pictured during a military display in the South China Sea on April 12, 2018. © Reuters Hao Nan is a Nuclear Futures Fellow with Ploughshares Fund & Horizon 2045, and a Susan Strange Associate Fellow with the Helsinki Geoeconomics Society.

August 5, 2026

Economy

SpaceX reports 92% revenue jump in first post-IPO earnings

Elon Musk says company will build all AI data centers exclusively on Nvidia chips SpaceX, which went public in June, has three business segments: space, connectivity and AI. © Reuters PALO ALTO, California -- Elon Musk's SpaceX reported the near-doubling of revenue in the second quarter in its first earnings release as a public company Tuesday, fueled by Starlink subscription growth and growing AI compute demand.

August 5, 2026

Economy

Daikin posts higher profit on AC sales driven by European heat waves

US data center cooling demand and premium products also underpin earnings Data centers and European heat waves buoyed Daikin Industries' operating profit to a record April-June high. (Photo by Kento Awashima) OSAKA -- Daikin Industries grew operating profit by 8% on the year to a new record for the April-June quarter, expanding its market share in the Americas with data center cooling and benefiting from strong European sales amid heat waves.

August 5, 2026

Economy

US intervened to contain Asia currency risks, Bessent says

Treasury chief cites lessons from 1990s crisis as Washington joined yen-buying operation U.S. Treasury Secretary Scott Bessent speaks to Nikkei in August 2025. This year's interview, conducted Aug. 4, was Nikkei's second opportunity to speak to him exclusively. (Photo by Kosuke Takami) WASHINGTON -- The U.S. joined in a coordinated currency intervention with Japan to prevent yen weakness from spreading instability across Asian currencies, Treasury Secretary Scott Bessent told Nikkei on Tuesday in an exclusive interview where he cited the lessons from the Asian financial crisis of the 1990s.

August 5, 2026