Contemporary Amperex Technology Ltd (CATL) reported a 42 percent increase in net profit to 72.2 billion yuan (US$10.4 billion) last year, driven by robust lithium-ion battery sales and expansion into new energy storage markets. The company's battery sales volume reached 661 gigawatt hours, representing a 39 percent year-on-year increase. The growth reflects CATL's strengthened position in the global electric vehicle battery market.
Hong Kong's Mandatory Provident Fund Schemes Authority is reviewing proposals to raise contribution caps for higher-paid workers by up to 33 percent. Lawmakers and HR experts warn this could increase business burden and impact employment. Labor representatives, however, advocate for even larger increases to meet statutory requirements and reflect salary growth. The MPFA is currently reviewing the maximum contribution limits.
Southeast Asia is expected to experience above-average temperatures from March to May, according to the Asean Specialised Meteorological Centre's latest seasonal forecast. The region, home to over 500 million people, may see increased electricity demand during the warm period. Simultaneously, the Middle East conflict has tightened energy supplies in the region, creating dual pressure on power grids and energy infrastructure.
Hong Kong Financial Secretary Paul Chan Mo-po stated that Hong Kong is not merely China's economic sandbox but also a driver of national development, emphasizing the city's role as the nation's international financial centre. Speaking at the Redefining Hong Kong 2026 conference, Chan urged Hong Kong to swiftly embrace artificial intelligence and leverage its opportunities, arguing that the benefits outweigh potential job displacement concerns.
Adrian Cheng Chi-kong, former heir apparent to New World Development, plans to spend more time in mainland China and expand technology investments this year. His investment focus spans artificial intelligence, aerospace, and other sectors, aligning with China's latest five-year plan. Cheng stated that realizing the 15th five-year plan would ensure stability and promising prospects. He serves as a member of the Chinese People's Political Consultative Conference.
China's consumer price index (CPI) increased 0.8 percent year-on-year during January-February, according to data released by the National Bureau of Statistics on Monday. The extended Chinese New Year holiday period drove increased consumer spending and contributed to the price rise. However, analysts caution that Beijing may need to implement stronger measures to stimulate demand in order to sustain the economic recovery.
Despite a trade truce agreement between China and the US last November, American companies continue facing critical mineral shortages. China's Ministry of Commerce suspended export bans on gallium, germanium, and antimony to the US for one year. However, China maintains a dominant position in the global market for these vital raw materials, including heavy rare earths, which are essential for American daily operations. Industry insiders note that China's market dominance persists in disrupting US supply chains.
Hong Kong property developers are testing market recovery by raising prices and reducing discounts as sentiment improves and transaction volumes rebound. However, analysts note uneven progress across projects, with many newly launched developments still offering substantial concessions as developers prioritize clearing unsold inventory accumulated during the market downturn. Major developers like New World Development are adjusting their discount policies.
John Greenwood, the economist credited with designing Hong Kong's dollar peg system, stated that concerns over the government's plan to transfer HK$150 billion (US$19.1 billion) from the Exchange Fund are exaggerated. Greenwood asserted that Hong Kong has adequate safeguards against misuse of the de facto sovereign wealth fund, and the transfer would not affect the mechanism defending the Hong Kong dollar's peg to the US dollar.