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Markets

AI investor mania: China’s DeepSeek chases US$70 billion valuation in fresh round

Company’s fresh fundraising talks come straight off its landmark Series A, as investors scramble to back national AI champion DeepSeek launched the new round shortly after closing the landmark deal because the first round was limited to a few selected backers, leaving other investors eager to support a national AI champion and still seeking ways to get involved, one of the sources said. The previous round was backed by Chinese tech giants, including Tencent Holdings, NetEase and JD.com. Contemporary Amperex Technology Ltd, also known as CATL, the world’s largest electric-vehicle battery maker, also joined, alongside venture capital firms including Monolith, Loyal Valley Capital and Shixiang. Another source added that the fundraising talks remained at a preliminary stage and the valuation could change. The sources requested anonymity as they were discussing private information.

July 15, 2026

Markets

Chinese gem lab rakes in profits as world embraces artificial diamonds

Lab-grown diamond maker Power Diamond sees profits triple as De Beers warns of ‘protracted’ challenges in natural stone market The pivot had led De Beers to suspend production at South Africa’s largest diamond mine, Venetia, for two years as part of a cost-cutting drive, with the company warning that it was confronting “protracted challenging conditions as the diamond industry evolves”. China dominates the growing market, with the country expected to account for nearly two-thirds of global output of lab-grown diamonds by 2030, according to the report. Most of China’s production takes place in Henan, state media reported last year. Power Diamond, a major producer in Henan, is one of the biggest beneficiaries of the pivot to lab-grown stones. The company projects its net profits attributable to shareholders to reach between 80 million yuan and 93 million yuan in the first half of 2026, nearly triple the level recorded during the same period last year, it said in a filing with the Shenzhen Stock Exchange on July 10. The firm attributed the surge to breakthroughs in its diamond-making process and strong growth in exports. Its revenues are forecast to nearly double, year on year, to 450 million yuan, the filing said.

July 15, 2026

Markets

China’s first-tier home prices extend 4-month rebound amid market stabilisation

However, only Shanghai recorded a year-on-year increase – of 3.1 per cent – with Beijing, Guangzhou and Shenzhen all down New home prices in four Chinese first-tier cities rose by an average of 0.1 per cent last month, extending a four-month rebound and signalling a gradual recovery in market sentiment as housing stabilisation measures gain traction. Among 70 large and medium-sized cities tracked nationwide, 20 saw month-on-month increases, up from 16 in May and the highest level since May last year, the bureau said. “In the first half of this year, policy effects gradually delivered tangible results, with positive changes seen in the property market,” bureau deputy director Mao Shengyong said at a news conference in Beijing on Wednesday. “Nationwide commercial housing inventories have declined for four consecutive months. “Property market sentiment has improved. After the Spring Festival, housing sector players have expressed improved expectations on the trends for new and second-hand home prices.” He said that to ensure stable and healthy property market development, city-level policies would be implemented continuously to curb excessive new supply and advance destocking.

July 15, 2026

Markets

As consumption worries persist, Hong Kong investors shun mainland Chinese F&B stocks

IPO lapses and sliding share prices underscore how weak consumption is dulling Hong Kong’s appetite for mainland China’s food sector While more than 10 consumer and F&B chains successfully listed in 2025, this year presents a starkly different landscape. Chinese fast-food brand LXJ International’s third listing application expired last week after failing to secure a hearing within six months, Hong Kong Exchanges and Clearing (HKEX) filings showed. Similar lapses recently affected Yuen Kee Food Group, the largest dumpling and wonton company in China, Qdama International, the leading seller of meat and fresh produce on the mainland, and packaged-food manufacturer Grandpa’s Farm International. For listed companies, share prices faced heavy pressure. During the second quarter of 2026, Chinese consumer stocks tracked by Goldman Sachs fell an average of 17 per cent, underperforming both the Hang Seng Index and Shanghai’s CSI 300, according to a research note from the bank on Tuesday. Similarly, Xiao Noodles, a Chinese fast-casual brand listed last December, has plunged nearly 50 per cent from its listing price.

July 15, 2026

Markets

China’s top lithium firms project up to 50-fold profit surge amid energy transition boom

Soaring profits at Tianqi and Ganfeng highlight how global demand for energy independence is powering China’s lithium edge Tianqi Lithium estimated net profit of between 2.85 billion yuan (US$420 million) and 4.25 billion yuan for the six months ended June 30, a year-on-year jump of between 3,276 per cent and 4,935 per cent, according to a filing with the Shenzhen Stock Exchange on Tuesday night. “Driven by multiple tailwinds including the development of the new energy industry and growth in downstream demand, the average selling prices of the company’s major lithium products rose markedly compared with the same period last year,” the Sichuan-based company said in the filing. Tianqi operates the world’s largest lithium brines in Chile and the biggest hard-rock lithium mine in Australia, and is a major producer of lithium chemicals.

July 15, 2026

Markets

Hong Kong urged to pave path for Greater Bay Area firms going global

Standards alignment, supply-chain coordination and cross-border financing are areas where city’s expertise can be pivotal, summit speakers say Speakers at the Greater Bay Area Global Business Expansion Summit on Tuesday highlighted the city’s strengthening position in three areas where companies face new challenges as they shift from contract manufacturing to building their own brands: standards alignment, supply-chain coordination and cross-border financing. The gap between domestic and international standards had emerged as a key barrier for many companies in the bay area, said Sunny Tan, chairman of the Hong Kong Productivity Council. “This is exactly where Hong Kong is very capable,” Tan said. “For emerging industries, many products are so new that no unified global standards exist yet. Hong Kong can help with both standardisation and testing certification.” The Greater Bay Area refers to Beijing’s initiative to link Hong Kong, Macau and nine cities in Guangdong province – Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Huizhou, Jiangmen and Zhaoqing – into an integrated economic and business hub. Supply-chain relocation had exposed the limits of going it alone for companies in the region, according to speakers.

July 14, 2026

Markets

China’s power exports to Asean surge 40% in first half of 2026 amid Hormuz tensions

Myanmar is leading the export surge for China’s power in Asean, with exports to the country nearly doubling in the first five months The increase also highlighted China’s growing role as a regional energy supplier at a time when geopolitical tensions have renewed concerns over energy security. China exported 2.39 billion kilowatt-hours of power to the Association of Southeast Asian Nations countries in the first half of the year, up 42.9 per cent from a year earlier, which “supported the region’s production and daily life”, Lu Daliang, spokesman for the General Administration of Customs, told a press conference on Tuesday. Meanwhile, customs data showed that China’s exports to Asean remained robust in June, with shipments rising 34.6 per cent year on year. Lu said closer industrial and supply-chain integration between China and Asean had driven growth in bilateral intermediate goods trade – rising 24.5 per cent in the first half to 2.86 trillion yuan – which includes electricity.

July 14, 2026

Markets

As IPOs surge, Hong Kong’s audit regulator vows tougher scrutiny

With more than 430 applicants in the IPO pipeline, the city’s accounting watchdog is ramping up post-listing inspections “The increase in IPOs will be helpful for the development of Hong Kong’s finance industry,” said David Sun Tak-kei, chairman of the AFRC, following a media briefing on Tuesday. “But the high quality of financial reporting also matters.” To maintain standards, the AFRC would continue to engage with auditors on projects for completed IPOs, Sun added. Earlier this year, Hong Kong’s regulatory authorities launched a coordinated campaign to scrutinise listing application documents and enforce compliance among financial intermediaries. In February, the AFRC issued an open letter warning auditors of public entities against sacrificing quality in pursuit of business growth. This followed a directive from the SFC in late January that tightened the compliance framework for sponsors.

July 14, 2026

Markets

Hilton launches Tempo hotel brand amid expanding China travel demand

US hotel operator says new lifestyle brand reflects its belief that the country’s tourism sector will continue to grow The US hospitality group announced on Tuesday that its Tempo by Hilton lifestyle brand would make its Asia-Pacific debut in mainland China after signing several deals. It added that the brand would offer Chinese hotel owners an opportunity to capture growing demand for lifestyle-oriented hospitality via a scalable model. “The introduction of Tempo reflects our confidence in the long‑term fundamentals of this market and the vast opportunity to meet increasing demand for experience-led lifestyle stays from this next generation of travellers,” said Alan Watts, president of Hilton Asia-Pacific, at a launch ceremony in Shanghai. “As the brand expands in China, we will enable owners to unlock value through clear positioning, strong operational efficiency, superior commercial advantage and a growing network effect.”

July 14, 2026

Markets

Where is the priciest residential property? Hong Kong keeps crown, but livability drops

Deutsche Bank cuts the financial hub’s quality-of-life standing as soaring expenses squeeze households, and Seoul emerges as a tech-driven regional competitor Hong Kong has retained its position as the world’s most expensive residential property market despite a 10 per cent price decline from pre-pandemic levels, according to a new Deutsche Bank report warning that housing affordability continues to weigh on living standards. The investment bank lowered the city’s quality-of-life ranking to 55th this year, down from 48th in 2025. Even so, the financial hub has maintained its appeal to international investors and high earners when factoring in residents’ purchasing power and overall livability, according to the 10th edition of the “Mapping the World’s Prices” report, co-authored by Jim Reid and Galina Pozdnyakova. “Hong Kong remains a global magnet for talent and capital,” the analysts said. “The richest cities are not always the easiest places to live.” The ranking assessed residential property purchase prices across 69 cities worldwide. Prices were converted into US dollars and measured by the purchase costs of flats, with comparisons made against 2016 levels and the pre-Covid-19 baseline from 2019.

July 14, 2026

Markets

5 years after Evergrande, why a China think tank says stock market signals a turnaround

Domestic A-shares have returned to near-2021 levels as real interest rates decline, though researchers warn a sustained recovery is not yet guaranteed While a deep correction in the property market tends to have far-reaching effects on the stock market, historical data shows that recoveries vary significantly in speed and scale. To establish this, the researchers analysed stock performance and macroeconomic drivers across 18 deep property slumps globally. “These differences show little correlation to home price falls, and they mainly depend on post-slump macro conditions,” wrote Yu Fei, a researcher at CF40, in the report. According to the report, published on Sunday, the A-share market had recovered to roughly its 2021 levels.

July 14, 2026

Markets

How Yung Kee and other Hong Kong heritage brands innovate to thrive in challenging times

From charcoal-roasted goose to toys to construction, owners of venerated local businesses explain their stewardship strategies From franchising to diversification, Hong Kong’s heritage brands and long-running family businesses are looking for ways to navigate challenging times amid changing consumption patterns and soaring costs. Second- and third-generation stewards of three local brands – charcoal-roasted goose restaurant Yung Kee, toy manufacturer Kader Holdings and construction group Asia Allied Infrastructure – are using different strategies to adapt to the changing times, they explained recently in an interview organised by Entrepreneurs’ Organisation Hong Kong in connection with its 30th anniversary this year. Yvonne Kam, the third-generation owner and chief finance officer of Yung Kee, spearheaded the launch of Yung’s Bistro, a more modern take on the restaurant’s revered family recipes for its famous charcoal-roasted goose. The group’s flagship is in Central, while the two Yung’s Bistro outlets are located in K11 Musea in Tsim Sha Tsui and Taikoo Place in Taikoo Shing.

July 14, 2026