Latest news with #Zhejiang-based
South China Morning Post
28-04-2025
- Business
- South China Morning Post
Hong Kong urged to act fast for Zhejiang tech firms amid US-China trade war
Hong Kong must act 'fast and be agile' in providing tailored financial and professional service solutions to Zhejiang-based technology companies as ongoing US-China tensions continue to disrupt their supply chains, industry representatives and experts have said after the city leader's trip to the province. Advertisement During Chief Executive John Lee Ka-chiu's four-day trip to Zhejiang province, home to the country's top tech start-ups known as the 'Six Little Dragons', the two sides agreed to launch a new cooperation mechanism. The crucial question is how Hong Kong should capitalise on the opportunities identified after engaging with technology giants in Hangzhou and understanding their needs. The aim is to help these companies mitigate supply chain disruptions and expand their international presence. Hangzhou, the capital of Zhejiang, has earned the reputation as China's Silicon Valley and has become a model for many mainland Chinese cities in its rise as a technology powerhouse. The province began fostering a technology-driven economy as early as 2003 under the 'digital Zhejiang' initiative, allocating funds not only to universities and institutions but also to the manufacturing sector for the commercialisation of technology research. Advertisement In 2023, the added value of core industries within the digital economy in Zhejiang reached 986.7 billion yuan (US$135.3 billion). The advanced manufacturing industry also achieved significant progress, with its added value exceeding 300 billion yuan.
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Business Standard
24-04-2025
- Business
- Business Standard
Why the world can't stop buying Chinese robots despite trade war
Chinese tech companies are selling robots around the world, even with the ongoing trade war. At the Canton Fair in Guangzhou, one of the country's biggest trade shows, buyers are lining up to see robot cafes, cleaning machines, and smart prosthetic limbs, reported The South China Morning Post. One popular display shows two robotic arms making lattes at an automated cafe. In just the first two days of the event, the machine has already brought in 8 million yuan (US$1.1 million) in orders. The robot cafe is made by Dolphin Robot Technology. Founder Han Zhaolin said they didn't expect such a big response. 'To our surprise, the enthusiasm from buyers this year has been overwhelming,' Han said. 'Buyers from Vietnam to the Middle East showed a strong willingness to purchase on site.' Even though the US and China have raised tariffs on each other's products by more than 120 per cent, Han said it hasn't hurt sales. Their robot cafe, now in its fifth generation, has nearly 100 patents and faces little competition globally. 'We aren't bearing the tariff, nor are we lowering our prices, because US customers have rigid demand,' he said. 'There's nothing like this produced in the US, Germany or Japan, and similar products from South Korea cost twice as much.' Robots stay strong despite tariffs Han's story is part of a bigger trend at the fair. Many Chinese smart products are still doing well in global markets, even during the trade war. That's because most of their parts are made in China, so they don't get hit by extra taxes. Also, they are usually cheaper and faster to produce than similar products in other countries. Smart bionic limbs enter US market Another Zhejiang-based company of China, Zhejiang Qiangnao Technology, is working to bring its high-tech bionic arms and legs to the US. These smart limbs are powered by software that learns from the brain. 'Our company's smart bionic legs and hands … are only one-fifth to one-seventh the cost of similar Western products,' Pan Siyu, a company representative, told The South China Morning Post. The products already have approval from the US Food and Drug Administration (FDA) and are included in the US medical insurance system. They cost about $50,000, which is still affordable for the market. But Pan said that could change if tariffs go up again. 'It all depends on how high the tariffs go … US policies change frequently. We can't predict how our products will be classified next,' Pan added. Award-winning robot cleans skyscrapers Lingdu Intelligent Tech Development, a company based in Guangzhou, won the top prize at the Canton Fair with its skyscraper-cleaning robot. The robot can wash buildings as tall as 500 metres, doesn't need water pipes or wires, and can hold tight even in hurricane-level winds. 'There are very few competitors in the market,' said Chen Sihong, sales director at Lingdu. 'Other products still require external water pipes and wires, and can only reach about 60 metres.' The robot is already sold in over 20 countries, and international demand is high. Buyers from the Middle East are especially interested because of the cost savings. 'Cleaning services are expensive in foreign countries. Cleaning the exterior wall of a building cost about $2 per square metre, while using our robot costs just 2 yuan ($0.27),' Chen said. 'The investment will be paid off with just one or two buildings cleaned. Plus, the robot can operate 24/7 and has a lifespan of up to eight years,' Chen mentioned. Robot cafe saves space and cuts costs The robot cafe from Dolphin Robot is small—just 2.5 square metres—but powerful. It can make more than 50 types of drinks, like coffee, milk tea, matcha, and chocolate. Each drink takes just 50 seconds, and can be adjusted by size, sweetness, temperature, and strength. The machine also saves a lot of money. It can be controlled using a smartphone, fixes 90 per cent of its own issues, and can run for 10 years without needing staff. 'A single smartphone can remotely manage the entire robot cafe,' Han said. 'It can self-repair 90 per cent of malfunctions, operate continuously for 10 years without the need to hire anyone, and the monthly electricity cost is only 300 to 500 yuan – less than 5,000 yuan a year.' 'In contrast, a typical cafe in the US pays over 10,000 yuan per month just for electricity.' Han also believes the trade war is actually helping interest in Chinese technology.
South China Morning Post
23-04-2025
- Business
- South China Morning Post
Top brain-machine interface start-up ‘in talks' to set up Hong Kong presence
A mainland Chinese start-up specialising in brain-machine interfaces (BMIs) is 'in talks' with the Hong Kong government about expanding its operations to the financial hub, the company's founder has said after meeting the city's leader in Hangzhou. Advertisement 'We are in talks with Hong Kong. It is still in the initial stage,' BrainCo founder and CEO Han Bicheng told the Post on Wednesday. Earlier that day, Han welcomed Chief Executive John Lee Ka-chiu to the company's office in the capital city of mainland China's Zhejiang province. 'We are definitely very interested in the Hong Kong market. Hong Kong has very good conditions, and we will talk to the chief executive,' the start-up founder said. Han said that at this stage, he was reluctant to elaborate on the potential forms of partnership the company would pursue with Hong Kong. Advertisement The neurotech company was incubated at Harvard University in 2015 and founded in Hangzhou in 2018, becoming one of the six Zhejiang-based, world-acclaimed technology start-ups widely known as the 'six little dragons'.
South China Morning Post
23-04-2025
- Business
- South China Morning Post
Top brain-machine interface start-up ‘in talks' to set up Hong Kong presence
A mainland Chinese start-up specialising in brain-machine interfaces (BMIs) is 'in talks' with the Hong Kong government about expanding its operations to the financial hub, the company's founder has said after meeting the city's leader in Hangzhou. Advertisement 'We are in talks with Hong Kong. It is still in the initial stage,' BrainCo founder and CEO Han Bicheng told the Post on Wednesday. Earlier that day, Han welcomed Chief Executive John Lee Ka-chiu to the company's office in the capital city of mainland China's Zhejiang province. 'We are definitely very interested in the Hong Kong market. Hong Kong has very good conditions, and we will talk to the chief executive,' the start-up founder said. Han said that at this stage, he was reluctant to elaborate on the potential forms of partnership the company would pursue with Hong Kong. Advertisement The neurotech company was incubated at Harvard University in 2015 and founded in Hangzhou in 2018, becoming one of the six Zhejiang-based, world-acclaimed technology start-ups widely known as the 'six little dragons'.
South China Morning Post
22-04-2025
- Business
- South China Morning Post
China's solar panel makers explore options as Washington sets tariffs for Southeast Asia
With American trade officials having finalised steep tariffs on solar cell imports from Southeast Asia, Chinese solar manufacturers have been tapping more regions for factory plans in a bid to secure alternative shipping routes to the US. Advertisement But erratic tariff policies from US President Donald Trump this year have added to the uncertainties of any long-term investment plans, according to industry insiders. On Monday, the US Department of Commerce announced its final affirmative determinations in the year-long anti-dumping and countervailing duty investigations on solar cells and modules from four countries in Southeast Asia, with rates broadly higher than the preliminary levels announced last year. Manufacturers such as Zhejiang-based Hounen Solar would face combined dumping and countervailing duties of more than 3,500 per cent for products made in Cambodia, according to the announcement. Combined duties on some Chinese companies' factories in Thailand would be near 1,000 per cent. Some Vietnam-based plants would see tariffs exceed 800 per cent. And some in Malaysia would also face levies as high as 250 per cent. Advertisement Southeast Asia has become a major destination for Chinese solar firms transferring production capacity overseas in recent years – seen as an attempt to bypass US tariffs on direct imports from China.
