Municipal governments across China are trying to dissuade their unemployed citizens from becoming ride-hailing drivers, even though the low barrier to entry is appealing amid a weak job market. The latest warning came from Jingdezhen, a city known as the porcelain hub in southeastern Jiangxi province. The city's transport authority on Monday said that "the number of private cars in the city has been increasing over the years, and the capacity of the online ride-hailing market is becoming saturat
Hong Kong stocks declined by the most in five weeks, pulling back from 10-month highs as Li Auto's earnings fell short of market expectations and sparked concerns about corporate financial performances in the world's second largest economy. The Hang Seng Index lost 1.9 per cent to 19,265.74 as of 3.30pm local time, the biggest retreat since April 16. The Tech Index lost 3.8 per cent while the Shanghai Composite Index weakened 0.4 per cent. EV maker Li Auto's plunged 18.7 per cent to HK$81.20, it
Finland respects China's choice to further engage with Russia, but the close business ties between the two countries are not regarded as a "positive thing", a Finnish minister has told the Post. In an exclusive interview in Doha on Thursday, Finnish Development Cooperation and Foreign Trade Minister Ville Tavio said that relations between the European Union and China "will get only better" despite Brussels' move to de-risk from Beijing, but China's leaders will need to build trust with the bloc'
This week's third annual Leap technology conference in Riyadh, which ran from Monday through Wednesday, was seen by Hong Kong start-ups and investors as an opportunity to make inroads in Saudi Arabia as it invests heavily to take on the United Arab Emirates (UAE) as the dominant regional market. The government-backed conference has been able to attract attention from companies large and small because Saudi Arabia is seen as the next big growth market in the region compared with the more mature U
US President Joe Biden announced today he would sign legislation forcing Chinese tech giant ByteDance to divest from its popular social media platform, TikTok. Speaking to reporters at Joint Base Andrews in Maryland's Prince George's County, Biden affirmed his commitment to the measure, stating: "If they [Congress] pass this, I'll sign it." The legislation, known as the Protecting Americans from Foreign Adversary Controlled Applications Act, has garnered bipartisan support in the House of Repres