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Pop Mart shares dive despite soaring profit as...

News - South China Morning Post ·

2026/03/25

Chinese toymaker Pop Mart reported strong annual growth in revenue and net profit for 2025, but not enough to alleviate investor fears that the company remains too reliant on the Labubu phenomenon. Annual revenue jumped 184.7 per cent from a year earlier to 37.12 billion yuan (US$5.4 billion), while net profit surged 284.5 per cent to 13.08 billion yuan, the company said on Wednesday. However, its Hong Kong-listed shares plunged 22.5 per cent to HK$168.30 on Wednesday, marking the biggest

Why a global private-credit meltdown would hit China...

News - South China Morning Post ·

2026/03/25

As war in the Middle East escalates, the financial fallout extends beyond energy price and supply-chain disruptions. Vulnerabilities in the US$3 trillion-plus global private-credit market are accelerating, driving investors to safe havens, while global finance undergoes a rapid transformation. China, the world’s largest creditor to developing countries, will feel the repercussions. This is the first real stress test confronting the vast lending empire. A meltdown was inevitable; only the

Hong Kong weighs petrol pricing disclosure rule in...

News - South China Morning Post ·

2026/03/25

Hong Kong authorities are facing mounting pressure from lawmakers to roll out more measures to rein in surging fuel prices, including a requirement for firms to disclose pricing formulas when bidding for petrol stations – an idea the environment minister said could be considered. Secretary for Environment and Ecology Tse Chin-wan told the Legislative Council on Wednesday the government was open to reviewing the current tender policy for petrol station sites to bring down fuel prices, a

Shenzhen eyes ‘leapfrog’ gains in AI server supply...

News - South China Morning Post ·

2026/03/25

Shenzhen – southern China’s technology powerhouse – has launched an ambitious three-year action plan to build itself into a hub for intelligent computing clusters by advancing key areas such as semiconductors, storage and AI servers. The city aimed to see a “leapfrog” increase in the production capacity and shipment volume of the entire AI server supply chain by 2028, according to the plan published Monday by Shenzhen’s industry and information technology bureau. The blueprint is geared to...

Senior Japanese minister expresses regret over...

News - South China Morning Post ·

2026/03/25

A senior Japanese official and the country’s military have expressed regret after a serving officer was arrested on suspicion of trespassing at the Chinese embassy in Tokyo. Tokyo police have identified the 23-year-old suspect as Kodai Murata, a second lieutenant with the Ground Self-Defence Force (SDF), and said he was suspected of bringing an 18cm (7-inch) knife onto the embassy premises. No one was injured in the incident and a blade was found in shrubbery on the embassy grounds, Japanese...

More websites, mobile apps for children collecting...

News - South China Morning Post ·

2026/03/25

A global investigation involving Hong Kong authorities has found that more websites and mobile apps designed for children are collecting personal data – ranging from phone numbers to addresses – than they did about a decade ago. The 2025 Global Privacy Enforcement Network Sweep, which included the participation of Hong Kong’s Office of the Privacy Commissioner for Personal Data, examined 876 websites and mobile apps specifically designed for children across multiple sectors in early November,...

Leniency shown to Hong Kong immigration worker who...

News - South China Morning Post ·

2026/03/25

A Hong Kong court has granted further leniency to a senior Immigration Department assistant, placing him on a one-year probation order after he was convicted of repeatedly choking his wife and young son during domestic disputes. Kowloon City Court heard on Wednesday that the 49-year-old defendant, identified as “ATK”, preferred probation to community service because he would lose his job and the substantial pension accumulated over more than 30 years in the disciplined services. He earlier...

China yam with human ‘fingernails’, 260 free meals,...

News - South China Morning Post ·

2026/03/25

A man in China has dug up a yam that looks exactly like a human hand, shocking many people online. The man, who lives in Jieyang, in southern China’s Guangdong province, unearthed the oddly shaped vegetable on his farm. It looks so much like a hand that it seems to even have nails and skin. Chinese yams often grow into various shapes, as their appearance is greatly affected by external factors such as the soil and random rocks. However, it is rare for such a vegetable to grow so vividly like

Iranian military scoffs at US attempts at a ceasefire...

News - South China Morning Post ·

2026/03/25

An Iranian military spokesperson mocked US attempts at a ceasefire deal on Wednesday, raising questions about whether a 15-point plan proposed by Washington has a chance to succeed. The comments from Lieutenant Colonel Ebrahim Zolfaghari, a spokesperson for the Iranian military’s Khatam Al-Anbiya Central Headquarters, which jointly commands Iran’s regular military and paramilitary Revolutionary Guard, came after the plan was submitted to Iran by intermediaries. US President Donald Trump has

Hong Kong, Hainan can ‘forge strong partnership’,...

News - South China Morning Post ·

2026/03/25

Hong Kong and Hainan should forge a strong partnership and explore new models of cooperation, the city’s leader has said, urging the business sector to capitalise on the mainland Chinese province’s free-trade port status by offering professional services in areas such as finance, law and accounting. Chief Executive John Lee Ka-chiu’s call followed a meeting with Feng Fei, the Communist Party secretary of the Hainan provincial committee, on the sidelines of the Boao Forum for Asia annual...

Humanitarian aid boat arrives in Cuba amid US...

News - South China Morning Post ·

2026/03/25

The first boat of a flotilla carrying medical supplies, food and solar panels reached Cuba on Tuesday to aid the island as a US fuel blockade deepens its energy crisis. The Maguro shrimp fishing boat docked in Havana three days later than hoped after battling strong winds, currents and a pesky battery during its journey from Mexico. As they approached Havana’s colonial-era fortification, the international activists stood on the cabin roof of the boat - symbolically renamed “Granma 2.0” as a...

China’s consumer goods factories cut output as Iran...

News - South China Morning Post ·

2026/03/25

The disruption to shipping traffic along the Strait of Hormuz is starting to bite in China, where some manufacturers are reducing production due to soaring energy, raw material and freight costs. Zhao, who runs a bicycle factory in Guangzhou serving clients in the United States, Middle East and Europe, has already put most export business on hold. “We also cancelled all orders from Iran,” he said. “The cost of aluminium, a key raw material for bicycle production, has risen by 30 per...

Watchdog takes legal action against 6 contractors, 12...

News - South China Morning Post ·

2026/03/25

Hong Kong’s competition watchdog has taken legal action against six contractors and 12 individuals over alleged corruption and anti-competitive conduct in building maintenance projects worth nearly HK$700 million (US$89.4 million), after the city’s graft-buster charged five people linked to the work. The Competition Commission said on Wednesday it had started litigation proceedings in the Competition Tribunal after an investigation into a bid-rigging syndicate involved in tendering for

Israel’s military to occupy swathe of southern...

News - South China Morning Post ·

2026/03/25

Israel will occupy southern Lebanon up to the Litani River, an area Defence Minister Israel Katz on Tuesday described as a “security zone”, spelling out for the first time Israel’s intent to seize territory amounting to nearly a 10th of the country. At a meeting with the military chief of staff, Katz said Israeli forces would “control the remaining bridges and the security zone up to the Litani,” a river that meets the Mediterranean about 30km (20 miles) ‌north of Israel’s border. Lebanon’s...

Visa-free travel, rising foreign visitors boost...

News - South China Morning Post ·

2026/03/25

China’s luxury hotel sector has unlocked new avenues for business growth, fuelled by a boom in inbound tourism and a growing number of foreign business travellers and holidaymakers who favour high-end accommodation. International tourists generally spend more than domestic ones, except for wealthy Chinese travellers. Most visa-free visitors to China are from developed countries with much higher living costs. Even spending at their usual levels, they would generate considerable revenue for...

China’s 7-day hypersonic design; Andy Lau’s Ming...

News - South China Morning Post ·

2026/03/25

We have put together stories from our coverage on science from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. Top Chinese nuclear, radar and missile experts vanish from engineering body site The profile of one of China’s top nuclear weapons scientists has been scrubbed from the website of the nation’s engineering brains trust. Similar online references to radar specialist Wu Manqing, 60, and missile designer Wei...

Nasa abandons orbital station, plans moon base and...

News - South China Morning Post ·

2026/03/25

Nasa announced on Tuesday it ⁠has cancelled plans to deploy a space station in lunar orbit and ⁠would instead use components from the project to build a US$20 billion base on the moon’s surface, while also planning to send a nuclear-powered spacecraft to Mars. US space agency chief Jared Isaacman, an appointee of US President Donald Trump who took charge at Nasa in December, announced an unprecedented array of changes to the Artemis moon programme that would expand humanity’s footprint in

Turkey’s biggest private bank plans Hong Kong entry...

News - South China Morning Post ·

2026/03/25

Turkey’s largest private bank plans to set up a Hong Kong office, according to sources familiar with the matter, in a move that underscores the city’s role as a gateway for lenders seeking to connect China and Asian markets with the Middle East. Turkiye Is Bankasi’s board approved the Hong Kong expansion plan two months ago and the lender was awaiting clearance from Turkish authorities before formally approaching the Hong Kong Monetary Authority for a banking licence, the sources said. If...

Hong Kong’s CK Hutchison expands Panama ports claim...

News - South China Morning Post ·

2026/03/25

A subsidiary of Hong Kong conglomerate CK Hutchison Holdings has expanded international arbitration claims against Panama, alleging damages have “escalated beyond US$2 billion” in what it called an “illegal takeover” of ports and property. The expanded claims, announced on Tuesday local time by the Panama Ports Company (PPC), part of Hong Kong tycoon Li Ka-shing’s family-owned conglomerate, came a month after authorities took control of terminals at the ports of Balboa and Cristóbal near the...

Can Taiwan fulfil its Asia-Pacific drone hub goal...

News - South China Morning Post ·

2026/03/25

Taipei aims to leverage geopolitics by positioning itself as an Asia-Pacific drone hub built on a supply chain decoupled from mainland China, though challenges relating to scale, politics and timing threaten its ambitious industrial strategy. The push reflects a broader effort by the administration of Taiwanese leader William Lai Ching-te to position the island as a node in what officials have described as a “democratic supply chain” free of mainland Chinese components amid rising

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