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South China Morning Post
25 minutes ago
- South China Morning Post
What does the Beidaihe guest list tell us about China's economic priorities?
As China's top leaders enjoy their summer retreat at the northern beach resort of Beihaihe, analysts are poring over the guest list for clues about Beijing's priorities ahead of October's crucial plenary meeting to agree on China's next five-year plan. The list of invitees to the annual gathering , as reported by state media, suggests that China's leaders are placing a heavy emphasis on science, innovation and entrepreneurship, as they seek to accelerate China's development and application of emerging technologies. More than 60 experts received invitations to this year's Beidaihe holiday, including leading scientists in quantum physics, biology, artificial intelligence, materials science and medical research, as well as entrepreneurs from hi-tech industries, according to the state-run news agency Xinhua. Among the participants were structural biologist Yan Ning; top quantum physicist Pan Jianwei; and Xu Binghe, a leading breast cancer expert. The retreat also welcomed Liu Qingfeng, chairman of voice recognition technology pioneer iFlyTek; Wu Yunkun, president of cybersecurity firm Qi An Xin Technology (QAX); and Li Xuelong, chief technology officer at state-owned telecoms giant China Telecom. Also invited were eight fundamental researchers under 40 years of age, with the youngest member of the group – Feng Jiandong, a chemistry professor at Zhejiang University – aged just 33.
RTHK
2 hours ago
- RTHK
Food Expo exhibitors left with taste for more
Food Expo exhibitors left with taste for more The Food Expo begins on Thursday at the Hong Kong Convention and Exhibition Centre. Photo: RTHK Overseas vendors are banking on this year's Hong Kong Food Expo to continue to deliver in their attempts to reach new markets. One of them is senior export manager Malgorzata Pawlik from Polish company Evrafish, which has only sold in Europe. "We are looking forward for new clients and new opportunities," she told RTHK ahead of the expo. "It's our first time here in Hong Kong, and we hope it's going to be very successful for us." This was echoed by Jisu Yu, export manager for South Korea's Hanmandoo Foods. "We are hoping to get more distributors in Hong Kong. We do have a distributor now, but we are hoping to expand our retail buyers," she said. Business Development Manager Antoine Maurer from Hong Kong-based exporter KK Food Trading says success at last year's expo is why the firm is joining again this year. "[There] is a goal to have two [deals] to develop some projects with," he said, adding that the company will continue to try and exhibit in Hong Kong. Along with four other fairs, the five-day expo begins on Thursday in Wan Chai, with organisers hoping to attract half a million visitors.
South China Morning Post
2 hours ago
- South China Morning Post
HKMA, HSBC allay concerns about Hong Kong's property glut, assure city of banks' safety
Hong Kong's de facto central bank and the city's largest lender have issued separate statements to assuage concerns about a glut in the commercial property market, saying that the local banking system remained robust and well-capitalised. Advertisement Risks associated with commercial real estate (CRE) loans were 'manageable', as the classified loan ratio – a measure of borrowings deemed substandard, doubtful, or at loss – shrank slightly to 1.97 per cent in the second quarter, from 1.98 per cent at the end of March, said Eddie Yue Wai-man, the chief executive of the Hong Kong Monetary Authority (HKMA). 'Hong Kong's banking system is well-capitalised and has sufficient provisions and good financial strength to withstand market volatilities,' Yue said in a blog post on the HKMA's website on Wednesday. Hong Kong's property slump, currently in its sixth year, has entered a new normal , as a confluence of factors from high interest rates and macroeconomic pressure to low demand amid a supply glut has weighed on the market. As prices and rents fell in residential flats, shops and offices, the value of loan collateral declined. Eddie Yue Wai-man, the Chief Executive of the Hong Kong Monetary Authority (HKMA), on July 9, 2025. Photo: Elson Li Almost three-quarters of HSBC's Hong Kong commercial property loan book was flashing warning signs by the end of June, while the amount of loans bearing increased credit risk had almost tripled, according to a media report on Tuesday based on its own calculation.
