logo
Social media, e-commerce platform Xiaohongshu – or RedNote in English – sets up office in Hong Kong

Social media, e-commerce platform Xiaohongshu – or RedNote in English – sets up office in Hong Kong

HKFP4 hours ago

Chinese social network and e-commerce platform Xiaohongshu, known in English as RedNote, has set up an office in Hong Kong – its first outside mainland China.
Finance chief Paul Chan officiated at an opening ceremony on Saturday, saying the new office would 'enhance the visibility of Hong Kong's tourism, retail, dining and creative industries,' according to a government press release.
Invest Hong Kong (InvestHK) said the move would help ensure enhanced services for cross-border users and brands.
'As a leading lifestyle community from China, Xiaohongshu's presence will foster creative collaboration among local content creators, brands and organisations, and promote East-meets-West cultural exchanges and content marketing development among Hong Kong, the Mainland and the global markets,' InvestHK's Director-General of Investment Promotion Alpha Lau said.
Founded in 2013, Xiaohongshu – which literally means 'little red book' – allows its young user base to share fashion, beauty, travel, food, and other tips as a hub for consumption decision-making. It is particularly popular among affluent Gen Z users in urban China, according to Bloomberg.
It was thrust into the international spotlight in January, gaining an influx of American users amid fears that the US would shut down the popular TikTok video app, owned by Chinese tech firm ByteDance.
However, it is also known for heavily censoring or limiting topics sensitive to Beijing. Taiwan's government banned public servants from using the app on official devices in 2022 over national security concerns.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

RedNote joins AI race with its own open-source model that it says bests Alibaba, DeepSeek
RedNote joins AI race with its own open-source model that it says bests Alibaba, DeepSeek

South China Morning Post

time2 hours ago

  • South China Morning Post

RedNote joins AI race with its own open-source model that it says bests Alibaba, DeepSeek

Chinese social media platform RedNote has open-sourced its first large language model (LLM), joining a growing list of Big Tech firms looking to stake a claim in the artificial intelligence (AI) market, as the Shanghai-based company tries to leverage its growing international profile for new growth. The company on Friday unveiled its model, a mixture-of-experts system that activates 14 billion parameters out of a total of 142 billion when responding to queries, a design that aims to match the performance of leading AI models while cutting training and inference costs. RedNote said the model was developed by its in-house Humane Intelligence Lab, or 'hi lab', which evolved from the company's previous AI research team. RedNote, known as Xiaohongshu in Chinese, has 300 million monthly active users. Recent market transactions in the privately held company have seen its valuation reach US$26 billion , surpassing its pandemic-era peak in 2021, Bloomberg reported last week. The company is expected to launch an initial public offering as soon as this year. The company opened a new office in Hong Kong on June 7, its first outside mainland China, located at Times Square in Causeway Bay. RedNote has been looking to expand internationally this year after a boost in its popularity overseas when it looked like the US might ban ByteDance 's TikTok China has seen a surge in the number of LLMs released in recent years, with a recent trend towards open-source models following the popularity of models from AI research firm DeepSeek . Deep-pocketed tech giants such as Alibaba Group Holding Tencent Holdings and ByteDance have been leading the charge in training pricey foundational models. Alibaba owns the Post. RedNote's Humane Intelligence Lab has this year been recruiting researchers with strong humanities backgrounds, emphasising the importance of humanlike expression and alignment with human values. The company claimed outperformed other leading open-source models in Chinese language understanding, including Alibaba's Qwen2.5-72B-Instruct and DeepSeek-V3.

China export growth slows on plunge in US shipments
China export growth slows on plunge in US shipments

RTHK

time2 hours ago

  • RTHK

China export growth slows on plunge in US shipments

China export growth slows on plunge in US shipments While Chinese exports to the United States plunged, they spiked to regions such as Asean, Europe and Africa. Photo: Xinhua China's export growth slowed in May while imports also dropped more than expected, as trade tensions remain high between Beijing and Washington despite the tariff truce they reached last month. Official figures released by the General Administration of Customs on Monday showed that exports rose by 4.8 percent year on year to US$316.1 billion last month. That growth rate fell short of estimates of a 5 percent jump in a Reuters' poll and was notably lower than the 8.1 percent annual rise seen in April despite US President Donald Trump's 145 percent tariffs on Chinese goods taking effect that month. Imports, meanwhile, decreased by 3.4 percent to US$212.9 billion, compared with a 0.2 percent decline in April, and was also much steeper than the 0.9 percent fall that economists had estimated. Those figures left the country with a trade surplus of US$103.2 billion for the month, up from US$96.18 billion in April. The latest fall in exports were visibly dragged down by shipments to the United States, which plunged 34.4 percent last month. That was much sharper than the 21 percent annual decline registered in April and marked the sharpest monthly drop in more than five years – since February 2020. And the export decline came despite Beijing's reaching a tariff agreement with Washington on May 12, which saw the two sides roll back most of the sweeping tariffs imposed on each other's goods for 90 days. Shipments to the Southeast Asian bloc, Asean, however, continued to rise, jumping nearly 15 percent, while those to European Union nations and Africa rose 12 percent and over 33 percent, respectively. The latest agreement by China and the United States, two of the world's economic superpowers, has set the additional US levies on Chinese goods to 30 percent and countervailing Chinese duties on US imports to 10 percent, on top of some retaliatory tariffs imposed earlier on certain American goods. But despite the tariff truce, the two superpowers are still locked in disputes over key trade issues, such as Chinese export controls on rare earth minerals and US curbs on chip-related exports to China. Leaders of the two nations have agreed to further talks, with a new round of high-level bilateral trade meeting set to take place in London later today, led by Premier He Lifeng and US Treasury Secretary Scott Bessent, along with two other US officials. For the first five months of the year, China's exports grew by 6 percent year on year while imports declined 4.9 percent. Exports to the United States retreated 9.7 percent while those to Asean members grew by 12.2 percent.

Social media, e-commerce platform Xiaohongshu – or RedNote in English – sets up office in Hong Kong
Social media, e-commerce platform Xiaohongshu – or RedNote in English – sets up office in Hong Kong

HKFP

time4 hours ago

  • HKFP

Social media, e-commerce platform Xiaohongshu – or RedNote in English – sets up office in Hong Kong

Chinese social network and e-commerce platform Xiaohongshu, known in English as RedNote, has set up an office in Hong Kong – its first outside mainland China. Finance chief Paul Chan officiated at an opening ceremony on Saturday, saying the new office would 'enhance the visibility of Hong Kong's tourism, retail, dining and creative industries,' according to a government press release. Invest Hong Kong (InvestHK) said the move would help ensure enhanced services for cross-border users and brands. 'As a leading lifestyle community from China, Xiaohongshu's presence will foster creative collaboration among local content creators, brands and organisations, and promote East-meets-West cultural exchanges and content marketing development among Hong Kong, the Mainland and the global markets,' InvestHK's Director-General of Investment Promotion Alpha Lau said. Founded in 2013, Xiaohongshu – which literally means 'little red book' – allows its young user base to share fashion, beauty, travel, food, and other tips as a hub for consumption decision-making. It is particularly popular among affluent Gen Z users in urban China, according to Bloomberg. It was thrust into the international spotlight in January, gaining an influx of American users amid fears that the US would shut down the popular TikTok video app, owned by Chinese tech firm ByteDance. However, it is also known for heavily censoring or limiting topics sensitive to Beijing. Taiwan's government banned public servants from using the app on official devices in 2022 over national security concerns.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store