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South China Morning Post

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AI hyperscaler effect vaults China’s Zhongji Innolight to top of CSI 300 benchmark

The artificial intelligence frenzy has made Zhongji Innolight, a supplier of optical modules to US hyperscalers, the biggest constituent of China’s stock benchmark, highlighting AI’s profound impact on the world’s second-largest equity market. The northern Shandong province-based company had a 5 per cent weighting on the CSI 300 Index on Friday, making it the largest of the 300 most valuable stocks on the Shanghai and Shenzhen exchanges. The index’s weighting is based on the market...

South China Morning Post

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Is US wielding new tariff threat to secure big bargain in India trade talks?

The threat by the US to impose additional tariffs on imports from India over forced labour supply-chain concerns is a “pressure” tactic deployed by Washington to drive a harder bargain in its trade talks with New Delhi, according to analysts. Following a Section 301 unfair trade practices investigation, the Trump administration proposed that products from India, China, Japan, South Korea, Brazil and Switzerland would be subject to a 12.5 per cent levy, while a 10 per cent rate would apply to...

South China Morning Post

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China unveils world’s first superfast quantum memory, paving way for practical computing

Chinese scientists have created the world’s first superfast memory for quantum computers, solving a critical data-reading bottleneck and paving the way for big-data challenges such as drug discovery and detecting fraudulent financial activities. Quantum computers are expected to solve complex problems at speeds unattainable by traditional computers, and they need an efficient way to access classical data. Without a high-speed data interface, even the fastest quantum machine is slowed down when...

South China Morning Post

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ESF links kindergartens to primary schools, securing places through to graduation

Hong Kong’s biggest international school group has rolled out a “through-train” arrangement, linking all its kindergartens to its primary schools from September next year and guaranteeing pupils a place all the way to secondary graduation. The English Schools Foundation (ESF) said on Friday that starting next academic year, all its kindergartens would, for the first time, be directly linked to ESF primary schools. Families applying for a K1 place for the 2027-28 school year this September will...

RTHK News (Hong Kong)

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'Incentives needed to boost tourism to Central Asia'

Direct flights and longer visa-free access for travellers will help unleash the potential of tourism across Central Asia, industry representatives said as Chief Executive John Lee concludes his visit to the landlocked region on Friday. SAR passport holders can travel to both Kazakhstan and Uzbekistan visa-free, but the length of stay per visit is "borderline", according to Sunny Yip, director of Hong Kong travel agency Goldjoy Travel. Currently, Hong Kong permanent residents can stay in Kazakhstan up to 14 days each time, and 10 days in Uzbekistan. "These countries have a great deal of historical sites. From one site to another takes half a day or more by road," Yip said in an interview with RTHK. "If the countries could consider having 30 days visa-free, which is quite common for Hong Kong travellers to other countries, it would be very advantageous." But he said the real game-changer would be the introduction of direct flights. Hong Kong has never had direct air services to Uzbekistan, while Air Astana, Kazakhstan's flag carrier, used to operate flights between the SAR and Almaty before Covid. Lee on Tuesday announced that a Hong Kong carrier will start operating services to Almaty from the first quarter of 2027, with more details to follow. Sardor Nuritdinov, general director of Marco Polo Central Asia Travel in Uzbekistan, explained the importance of direct flights. "Most number of people travelling to Uzbekistan [from Hong Kong], they are 65-plus-year-old elderly people. For them, the biggest issue for them is the flight time and extra hassle in getting to the destination," he said. "If there is a direct flight ... it will at least increase the number of travellers to Uzbekistan in the first year already at least 10 times than what is right now." Yip said Hong Kong businesses can also actively participate in the development of tourism-related industries in Central Asia. "I would expect our chief executive to encourage more Hong Kong investment into hotel sectors," he said. "The airports are relatively basic. Development will be important to increase capacity." Nuritdinov agreed, noting that while Tashkent has no shortage of five-star hotels, cities like Samarkand and Bukhara lack premium accommodation. "Travellers from Hong Kong, they prefer more comfort compared to what can be offered in Uzbekistan at the moment in terms of accommodation," he said. With China emerging as a major market, Nuritdinov said Putonghua-speaking local guides remain scarce. "The local universities are also starting to think we need to add Chinese language as a course to the classes in the university," he said. "But I think it's a long way ahead. I'm thinking like five, 10 years ahead." Despite these challenges, both Nuritdinov and Yip see enormous potential in the region's tourism industry. Instability in the Middle East, they say, could also drive tourists to Central Asia. Nuritdinov recommended immersive experiences beyond historical sites, be it cooking Kazakhstan's national dish plov with a local family, silk embroidery workshops or dance lessons. Edited by Raymond Yeung

RTHK News (Hong Kong)

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Uzbeks welcome HK's 30-day visa-free proposal

Uzbeks in the capital of Tashkent voiced enthusiasm about the prospect of closer ties with Hong Kong on Thursday. Earlier, the SAR and Uzbek governments had agreed to begin detailed talks on a 30-day visa-free stay for travellers on both sides. Currently, HKSAR passport holders may visit Uzbekistan visa-free for 10 days, while Uzbek passport holders require a visa to enter Hong Kong. Uzbek citizens told RTHK that the proposed arrangement, revealed by Chief Executive John Lee on Wednesday night during his Central Asia visit, would significantly ease current travel restrictions and that the news could not come soon enough. "It’s a big opportunity for our nation, for our population, for our locals," said Jasur Abdumavlonov, an English teacher in Tashkent. "China is the fastest developing country. It develops very fast." Abdumavlonov, who described himself as eager to learn, said he hopes to visit Hong Kong within the next five years, drawn by curiosity about its food and people. He predicted the visa-free scheme would spark a two-way exchange of traditions and world views. "A lot of people will exchange their traditions, their point of view," he said. "They’re going to learn a lot about Asia, about Central Asia. And our people will learn a lot about Chinese [people]." For younger Uzbeks, Hong Kong’s pop culture has already built a powerful pull. Yasmin Kholmurodova said she has wanted to visit the city for a long time, inspired by its cinema, books and music. "That’s great news. I wish to come to Hong Kong for a very long time," she said. Kholmurodova said that the more visa-free destinations available to Uzbek travellers, the better. She also added that the proposed deal would foster prosperity through greater people-to-people contact. "Let’s be friendly, let’s visit each other’s countries, let’s be more global," she said. "I think it will definitely be more prosperous." Beyond tourism, business ties are already emerging. Khurshid Shomurotov said his brother travelled to Hong Kong just 10 days ago to meet potential partners. He said he now plans to visit Hong Kong himself in the future, adding that business discussions with partners in the city had gone well. The chief executive said the two governments would promptly advance the specific implementation measures to bring the arrangement into effect as soon as possible. Edited by Tony Sabine

South China Morning Post

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Booking system considered to protect popular Hong Kong hiking trail from crowds

Authorities are considering a pilot booking system for one of Hong Kong’s most popular hiking routes and creating a new marine park at Sharp Island in Sai Kung, following bigger-than-expected crowds during mainland Chinese holidays. The proposals were outlined in a paper submitted to a Legislative Council ecology and tourism subcommittee ahead of a meeting on Monday. The Agriculture, Fisheries and Conservation Department said visitor numbers at the Po Pin Chau section of Sai Kung East Country...

South China Morning Post

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정치

Lula thanks China for beef win and tells US after tariffs: ‘I will sell to someone else’

Brazilian President Luiz Inacio Lula da Silva thanked China for clearing the country’s beef of foot-and-mouth disease and fired a barb at US President Donald Trump, saying “I will sell to someone else”, after Washington announced new tariffs on Brazilian goods. Lula made the remarks on Tuesday, hours after Beijing announced wider access for Brazilian beef to the world’s biggest market for the product. “As God writes straight with crooked lines, nothing comes free for a Christian man like me....

RTHK News (Hong Kong)

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'Direct flight to Central Asia could lift HK tourism'

The executive director of the Travel Industry Council Fanny Yeung said on Wednesday she believes the planned launch of a direct flight linking Hong Kong and Kazakhstan would further boost the city's tourism industry. Her remarks came as Cathay Pacific announced it would start operating the route to Kazakhstan's biggest city, Almaty, in the first quarter of next year, significantly cutting the travel time between the two places. Speaking at a press conference on the upcoming International Travel Expo (ITE), Yeung said the council is pleased to learn about the flight arrangements to tap into the Central Asian market as the region is relatively unexplored. "We found that the tourism resources [there] are very, very interesting and the scenery is beautiful as well, so definitely it will attract Hong Kong people," she said, adding that the council had led a delegation to the region in 2024. "Prior to Covid, we [actually] had direct flights to Kazakhstan, but since Covid [they] stopped and didn't reopen again. I am quite positive that it will help us to explore this new destination for Hong Kong residents once the direct flight is available," she told reporters. Regarding the the SAR's tourism outlook, Yeung said she is confident that Hong Kong could welcome about 53 million visitors this year, despite risks arising from the Iran war that has reduced demand from long-haul markets. "We have less tourists from the long-haul markets, but on the other hand, Hong Kong is also very attractive to mainlanders," she said. Asia's annual flagship travel fair ITE is set to return to Hong Kong from June 11 to 14 at the Convention and Exhibition Centre. The event is expected to attract over 500 exhibitors from 66 countries and regions, including newcomers Uganda, Mongolia, and Peru. Edited by Aaron Tam

RTHK News (Hong Kong)

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HK can be key renewable energy hub: Kazakh expert

Researchers in Kazakhstan say Hong Kong's sound financial system, infrastructure and regulatory regime make it an ideal partner and fund-raising hub for green energy projects. Chief Executive John Lee will conclude his duty visit to Kazakhstan on Wednesday night, before continuing his Central Asian tour in Uzbekistan. The visit by the SAR delegation comes as Kazakhstan accelerates its decarbonisation drive, having committed to the Paris climate change treaty and a 2060 carbon neutrality target. "Our government is putting more effort on that. We have a lot of projects going on," said Nurxat Nuraje, head of the renewable energy lab at National Laboratory Astana. With petroleum reserves expected to be depleted within 50 years, he said the Kazakh government is "paying more attention to develop new technology like renewable energy technology". Nuraje, who attended the International Hydrogen Development Symposium in Wan Chai last month, believed there is plenty of room for cooperation. "We learned that Hong Kong has become a very important hub for the development of hydrogen and renewable energy," he said. "Hong Kong has a very good transportation system, also a capital investment system." Fellow researcher Yerbolat Magazov went further, suggesting Hong Kong look into developing a trading mechanism for green hydrogen. "The actual role of Hong Kong as a hub would be to make it not as an energy material, but as a valuable asset," he said. "Special frameworks, taxonomy, legislation — so hydrogen can be traded as a stock material." Their laboratory in the Kazakh capital has already demonstrated the potential of clean energy, after building a system last year that converts solar energy into hydrogen. Mainland company Zhejiang H2-Bank Technology was a key partner, supplying critical components such as electrolysers and hydrogen storage systems. But Magazov acknowledged they need to drive down costs before green hydrogen can really take off. It remains three to five times more expensive than "grey" hydrogen, which is derived from fossil fuels. "The biggest problem is bankability," he said. "Lots of people have lots of money, but they need to be sure that in the future, green hydrogen will be profitable. Right now, if you calculate, it's a non-profitable thing." This, according to Magazov, is where the Hong Kong brand comes into play. "If Hong Kong trusts this country, everyone can also trust. That allows future investors to put money and investments into this particular market," he said. With global energy markets remaining volatile, Magazov felt that Central Asia and China should forge closer ties. "It's better to make allies which are close to each other," he said. "China, Hong Kong, Kazakhstan and other Central Asian countries should bring together. In the future, if something happens, we'll be independent of others." Edited by Raymond Yeung

South China Morning Post

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China clears Brazilian beef of foot-and-mouth disease, but quota limits profits

Brazil has won wider access to the world’s biggest beef market after China recognised the entire country as free of foot-and-mouth disease, though a new quota will still cap prices. The decision was announced on Tuesday by China’s General Administration of Customs and the Ministry of Agriculture and Rural Affairs and was communicated during Brazilian Foreign Minister Mauro Vieira’s visit to Beijing. After a risk analysis, Beijing lifted the restriction on northern Brazil and recognised the...

RTHK News (Hong Kong)

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정치

HK, Kazakhstan forge 'hub-to-hub' partnership: CE

Chief Executive John Lee has proposed a strategic “hub-to-hub” cooperation model with Kazakhstan, aiming to link the Central Asian nation’s regional reach with Hong Kong’s access to Asian markets. The proposal came during the second day of Lee’s visit to the country. Meeting with Kazakh Prime Minister Olzhas Bektenov, Lee highlighted the growing economic weight between the two sides. He noted that Hong Kong was Kazakhstan’s 10th-largest net investor globally and the fourth-biggest in Asia at the start of this year. Lee said Hong Kong enjoys the unique advantages of having strong support of the motherland and being closely connected to the world under the "one country, two systems" principle. He proposed that Kazakhstan serve as Hong Kong’s gateway to the Central Asian market, while Hong Kong would act as Kazakhstan’s springboard into East and Southeast Asia. The visit has already yielded significant commercial and diplomatic momentum, with Lee announcing that Hong Kong and Kazakhstan have agreed to accelerate exploratory discussions on a Comprehensive Avoidance of Double Taxation Agreement and an Investment Promotion and Protection Agreement. During a meeting with Nurlan Zhakupov, CEO of Kazakhstan’s national sovereign wealth fund Samruk-Kazyna, Lee described Hong Kong as a stable and secure investment haven. He noted that the city ranked first globally in funds raised through initial public offerings in the first quarter of this year, positioning it as an ideal listing destination for the fund’s diverse portfolio of assets. He encouraged projects under the fund to list in the city to diversify investment risk. Earlier on Tuesday, the CE visited Baiterek National Investment Holding, a key financial operator of the Kazakh government. He encouraged the company to leverage Hong Kong’s financial system and professional services for cooperation in infrastructure financing, bonds and green finance. Lee extended an invitation for the firm to explore development potential in the Northern Metropolis. He also held talks with Minister of Trade and Integration Arman Shakkaliyev on deepening bilateral trade, logistics and financial technology cooperation. Lee emphasised Hong Kong’s status as the world’s fifth-largest merchandise trading entity and its commitment to free trade and multilateralism. He suggested that as Kazakhstan works to expand its role as a regional trading hub through digital commerce and market modernisation, the SAR could serve as a critical gateway for Kazakh enterprises looking to enter the mainland and broader Asian markets. The chief executive is scheduled to continue his visit in Kazakhstan on Wednesday before heading to Uzbekistan on the second leg of his tour. Edited by Edmond Fong

RTHK News (Hong Kong)

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Direct flights from HK to Kazakhstan set for next year

Chief Executive John Lee on Tuesday said the city’s push to deepen connectivity with Central Asia is already bearing fruit, as he announced progress on direct flights to Kazakhstan alongside moves to make visa arrangements more convenient for travellers. Speaking to reporters in Astana during his first official visit to Central Asia, Lee said a Hong Kong-based airline will begin direct flights to Kazakhstan's biggest city Almaty in the first quarter of next year, significantly cutting travel time between the two places. He added that the new route will also provide access to other Central Asian, Eastern European and Caucasus regional destinations. In a statement, the SAR's flagship carrier Cathay Pacific announced plans to launch direct flights to Almaty in the first quarter of 2027. "The airline plans to operate three flights per week using an Airbus A330-300 widebody aircraft, which will be the only direct service linking Hong Kong and Kazakhstan," the airline said. Alongside the aviation breakthrough, Lee confirmed that the SAR is working to substantially extend visa-free access for Hongkongers in Central Asia. The SAR already has visa-free arrangements with Kazakhstan, Uzbekistan and Kyrgyzstan, allowing stays of between 10 and 30 days. But Lee said his target is to extend the visa-free period to 30 days for all three nations. "We and the Kazakh government both agree that this is definitely one of our goals. We have already exchanged some further information with the two governments, and everyone is working hard to work toward this target," he said. "We hope that by this year, we can reach the best arrangement." He added that Uzbekistan has also signalled its agreement to the proposal following communications before the delegation's departure, Lee added. Once agreements with these countries are finalised, the SAR government will seek to facilitate easier entry for the remaining two Central Asian countries. On Wednesday, Lee is scheduled to visit Astana's Nazarbayev University, where President Xi Jinping first proposed the concept of the Belt and Road Initiative in 2013. The chief executive said Hong Kong and Kazakhstan can enhance collaboration on education. "The Education University of Hong Kong and the Hong Kong Polytechnic University, they will be developing a working relationship with the Nazarbayev University, to further expand the collaboration between the higher education institutions of the two places," he said. Lee will conclude his stay in Kazakhstan on Wednesday before travelling to Uzbekistan, describing the Astana leg alone as a significant breakthrough – with 43 memoranda of understanding in areas such as economic and trade cooperation, investment, and green finance expected to be signed in the country. Edited by Thomas McAlinden

South China Morning Post

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Chinese EV makers recover in May but competition remains fierce amid overcapacity woes

Sales of electric vehicles (EVs) in China recovered on solid footing in May, as new models fitted with higher-performance batteries and more advanced driver assistance systems drew consumers amid intensified competition. Zeekr, a premium EV brand owned by Geely Auto, the country’s second-largest carmaker, and Stellantis-backed Leapmotor rewrote their monthly delivery records, the latest sign that local government subsidies have whetted consumers’ buying appetite for big-ticket items. Although...

South China Morning Post

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How ‘strategic ambiguity’ made Turkey a winner in the Iran war

Since the Iran war began in late February, Turkey has positioned itself as a key regional power, an economic bridge and a neutral mediator, condemning both the US-Israeli strikes on Iran and Iran’s retaliatory attacks on Gulf nations. Turkish President Recep Tayyip Erdogan reiterated his country’s support for peace talks in separate phone calls with Iranian President Masoud Pezeshkian and Pakistani Prime Minister Shehbaz Sharif last week. The week before, in a call with US President Donald...

South China Morning Post

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Hegseth tones down China rhetoric on return to Asia

US Secretary of Defence Pete Hegseth told Asia’s biggest military conference that his country’s relations with China were “better than they’ve been in many years”, as he adopted a much less strident tone than at the same event 12 months ago. “President Trump and this administration seek a stable peace, fair trade and respectful relations with China,” Hegseth said on Saturday at the Shangri-La Dialogue in Singapore. The two countries agreed to “build a constructive relationship of strategic...

South China Morning Post

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산업/기업

Hong Kong government’s venture fund eyes bigger bankroll after double-digit return

The government’s investment arm achieved a double-digit internal rate of return last year, greater than many newly established venture capital funds, according to its CEO. “Many overseas funds have a J-curve performance, as they tend to suffer an initial loss before a gain,” said Clara Chan Ka-chai, CEO of Hong Kong Investment Corporation (HKIC). “But we have already bypassed the J-curve, as we have earned HK$2.3 billion [US$293 million] in 2024, while we have achieved a double-digit rate of...

RTHK News (Hong Kong)

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경제

Economy shows resilience as AI electronic exports boom

Financial Secretary Paul Chan said on Monday Hong Kong’s economy remained resilient when it moved into the second quarter. This, he said, followed robust growth of 5.9 percent in gross domestic product in the first quarter. Speaking at a meeting of the Legislative Council’s financial affairs panel, Chan said the SAR saw year-on-year growth in merchandise exports of nearly 43 percent in April, driven by export of AI-related electronics products. The city also welcomed more tourists in April and during the Labour Day Golden Week holiday, in addition to seeing improvements in the labour market. However, Chan warned of uncertainties brought about by the Middle East stalemate. "Although the conflict has limited impact on Hong Kong’s economy, it has pushed up international oil prices and inflation pressure," he said. "The ceasefire agreement between the US and Iran is not on solid ground. If tensions escalate again, it is expected to exacerbate volatility in global financial markets, weaken external demand and pose downside risks to global and local economic outlook. "But strong global demand for advanced electronics and AI-related products is expected to help boost exports." Chan also said Hong Kong exports of services would remain robust with tourism booming, cross-border financial activities thriving and demand for business services remaining stable. He also urged the retail and catering sectors to transform themselves to match new consumption trends. "Consumption patterns have changed and people’s expectations are different from before," Chan said. "As a result, some of the big traditional restaurants may find it difficult to survive in the current environment if they continue with their past practices," he said. "At the same time, however, there are distinctive shops and cafes opening up in many districts, and some of them are doing well. Therefore, we encourage the industry to transform." Chan said the government would offer assistance in funding and training to aid in the sectors' transformation. Edited by Thomas McAlinden

South China Morning Post

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Philippines says Beijing main hurdle to South China Sea code of conduct

Members of Asean might have conflicting claims in the South China Sea but mutual trust exists in the bloc, Philippine defence chief Gilberto Teodoro Jnr said on Sunday, singling out Beijing as the biggest obstacle to a code of conduct in the disputed waterway. Teodoro delivered strong words for China in the final panel of the Shangri-La Dialogue security forum in Singapore, taking aim at Manila’s long-time maritime rival for disregarding an international arbitral tribunal which ruled in favour...

South China Morning Post

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Malaysia blasts ‘conspicuously muted’ response over axed Norway missile deal

Malaysia’s Defence Minister Mohamed Khaled Nordin slammed the international community’s “muted” response on Sunday at a security forum over Norway’s decision to scrap a missile deal with Kuala Lumpur. In a charged speech at the Shangri-La Dialogue in Singapore, Khaled said the “deafening silence” on Oslo’s cancellation of the agreement sent a message that certain countries were “simply above scrutiny”, questioning if global rules were subject to the will of bigger powers. Earlier this month, the...

뉴스

타임라인 키워드

AI hyperscaler effect vaults China’s Zhongji Innolight to top of CSI 300 benchmark

Is US wielding new tariff threat to secure big bargain in India trade talks?

China unveils world’s first superfast quantum memory, paving way for practical computing

ESF links kindergartens to primary schools, securing places through to graduation

'Incentives needed to boost tourism to Central Asia'

Uzbeks welcome HK's 30-day visa-free proposal

Booking system considered to protect popular Hong Kong hiking trail from crowds

Lula thanks China for beef win and tells US after tariffs: ‘I will sell to someone else’

'Direct flight to Central Asia could lift HK tourism'

HK can be key renewable energy hub: Kazakh expert

China clears Brazilian beef of foot-and-mouth disease, but quota limits profits

HK, Kazakhstan forge 'hub-to-hub' partnership: CE

Direct flights from HK to Kazakhstan set for next year

Chinese EV makers recover in May but competition remains fierce amid overcapacity woes

How ‘strategic ambiguity’ made Turkey a winner in the Iran war

Hegseth tones down China rhetoric on return to Asia

Hong Kong government’s venture fund eyes bigger bankroll after double-digit return

Economy shows resilience as AI electronic exports boom

Philippines says Beijing main hurdle to South China Sea code of conduct

Malaysia blasts ‘conspicuously muted’ response over axed Norway missile deal