JD.com posted a 2.7 billion yuan (US$392 million) loss in Q4, marking its first quarterly loss since early 2022, compared to a 9.9 billion yuan profit a year earlier. Annual profit declined nearly 53% to 19.6 billion yuan. The losses stem from the company's aggressive food delivery expansion launched last year. Despite the quarterly loss, JD.com maintained profitability on a non-GAAP basis.
As the United States grapples with mounting debt, China is doubling down on efforts to clean up its ...
According to the latest Hurun Global Rich List released by Hurun Group, China has surpassed the United States to become home to the world's largest number of billionaires, with 1,110 out of 4,020 global billionaires. China added 287 new billionaires in this edition, driven by stock market gains and artificial intelligence sector growth that generated record billionaire numbers worldwide.
Hong Kong Baptist University is actively considering issuing bonds to finance future development projects, including campus redevelopment and a new Chinese medicine hospital, according to President Alexander Wai Ping-kong. The public institution will proceed cautiously with bond issuance to avoid creating management pressure. The university requires substantial funding for multiple initiatives including the Chinese medicine hospital.
Airfares from Hong Kong to European, South American and select Asian destinations have surged significantly following recent geopolitical tensions. Routes transiting through Middle Eastern aviation hubs experienced the most dramatic increases after US and Israeli joint military strikes against Iran. According to the South China Morning Post, fares to these destinations roughly tripled from Tuesday onwards.
China set the lowest economic growth target since 1991 as the country contends with global trade ten...
Singapore police have arrested three Singaporean citizens suspected of involvement in money laundering and fraud related to transnational scam syndicate Prince Group and its founder Chen Zhi, currently detained in China. The arrests occurred between November 2025 and January 2026. Frozen assets include three properties, a yacht, and vehicles valued at approximately US$390 million. Each offense carries a maximum penalty of 10 years imprisonment, a fine, or both.
China's Ministry of Finance unveiled its 2026 draft budget report, implementing a more proactive fiscal policy to support domestic market, advanced technology, and public welfare. Key central government expenditures include: national defence at 1.91 trillion yuan (up 7%), debt interest payments at 874 billion yuan (up 6.7%), science and technology at 426 billion yuan (up 10%), public security at 258 billion yuan (up 5.9%), and education at 192 billion yuan (up 5%).
Hong Kong's investment promotion agency announced targeted measures to attract precious metals companies to establish headquarters in the city as part of efforts to become a premier global gold trading hub. InvestHK will assist companies with site selection and overseas certification applications to enhance refining operations, according to the agency's head of transport, logistics and industries.
US Treasury Secretary Scott Bessent stated on Wednesday that President Trump's plan to raise broad tariffs from 10% to 15% will likely be implemented this week. Bessent told CNBC that the increase "is likely sometime this week," providing the clearest timeline yet for when the US will execute Trump's tariff pledge. Trump had previously imposed a 10% tariff rate last month.