Asia

08 Mar China’s Alipay and WeChat Pay ease the way for foreign travellers to make payments in world’s largest cashless society

Posted at 13:00h in Asia

Alipay’s annual cumulative transaction limit for foreign visitors has also been increased to US$50,000, up from the previous US$10,000 limit, in line with a new People’s Bank of China policy, the group said. 02:40How mobile payments impact people’s lives in ChinaHow mobile payments impact people’s lives...

08 Mar Tesla fails to keep up with China’s fast-growing EV sector amid escalating price war, posts declining February sales

Posted at 12:30h in Asia

Tesla’s February deliveries in mainland China, the world’s largest electric-vehicle (EV) market, failed to keep up with the overall industry amid an escalating price war.The US carmaker’s Gigafactory in Shanghai handed over 30,141 Model 3s and Model Ys to mainland customers last month, a year-on-year...

08 Mar China’s electric vehicle infrastructure falls short, as Lunar New Year holiday woes of EV drivers in Hainan and elsewhere showed

Posted at 11:15h in Asia

However, the biggest problem for NEV drivers this Lunar New Year was the lack of charging stations.Chinese scientists produce a powerful winter-proof lithium batteryThis year, Xinhua estimated that 9 billion journeys would be made over the 40-day chunyun period, which ended on March 5. Many...

08 Mar Hong Kong sees uptick in IPO applications year to date with interest rates poised to decline, HKEX CEO says

Posted at 11:13h in Asia

Hong Kong has received 30 per cent more applications for initial public offerings (IPO) year to date than in the same period a year ago, as more start-ups seek to raise capital with interest rates poised to decline, indicating a turnaround in the market.“We have...

International Women’s Day: female leadership in Asia-Pacific businesses is shrinking as flexible working arrangements are dismantled, Grant Thornton says

08 Mar International Women’s Day: female leadership in Asia-Pacific businesses is shrinking as flexible working arrangements are dismantled, Grant Thornton says

Posted at 10:00h in Asia

Senior female business leadership in the Asia-Pacific region has been shrinking this year and is lagging behind other parts of the world, with the lack of flexible working in the post-Covid era posing a hindrance to gender parity, global advisory firm Grant Thornton International said.The...

08 Mar Matthews shuts Shanghai office as it joins asset managers Vanguard and Van Eck in retreating from China

Posted at 08:41h in Asia

Asset manager Matthews International Capital Management is closing its Shanghai office, adding to the list of global firms that have cut back in mainland China.The San Francisco-based company will centralise its regional research business in Hong Kong and remains committed to conducting China analysis, it...

08 Mar Opinion | Focus on industrial policy holds great promise, and risk, for China’s economy

Posted at 08:30h in Asia

The balance of payments equilibrium suggests that the current account surplus will be close to zero and the overall trade balance will probably show a shrinking surplus. China is still likely to witness large net exports in certain industries, but this will be counterbalanced by...

08 Mar International Women’s Day: ranks of self-made multimillionaires swell as they continue to shatter barriers along the way: Julius Baer

Posted at 07:42h in Asia

The proportion of wealthy women globally has increased significantly in the past decade as changing attitudes towards women doing business has led to a large number of self-made female multimillionaires, according to a survey by Julius Baer.The number of women ultra-high net worth individuals (UHNWIs)...

08 Mar Huawei’s China-made chip used US gear from Applied Materials and Lam Research, complicating self-sufficiency drive

Posted at 05:30h in Asia

Shanghai-based SMIC used gear from California-based Applied Materials and Lam Research to manufacture an advanced 7-nanometre chip for Huawei in 2023, the people said, asking not to be named as the details are not public.The previously unreported information suggests that China still cannot entirely replace...

08 Mar Private credit funds appeal to Hong Kong family offices, wealthy investors as returns sizzle amid market challenges

Posted at 05:04h in Asia

A few years ago, 16 Hong Kong family offices contributed US$50 million to the initial capital of a private credit fund established by Chicago-based Adams Street Partners. Since then, the fund has grown manifold with additional capital from new investors.It showcases the appeal of such...