The DRAM manufacturer raised Rmb57.9bn ($8.6bn) in Asia’s largest IPO of 2026 so far and has become China’s largest onshore-listed company by market value, raising questions over the chip maker's valuation and growth prospects.
Shanghai has been handed more tools, including the acceleration of offshore loans and digital trade, to aid offshore financial services in a boost to the city as a global financial hub; there is also cooperation with Hong Kong.
Lillian Li, Moody’s Ratings VP and senior credit officer, explained to FA that companies in manufacturing, high tech, infrastructure and logistics are facing higher geopolitical risks than other sectors; China's outbound direct investment is on the rise.
China is strengthening oversight of outbound investment through new regulations from July 1 that are designed to safeguard national interests, following an earlier ban on Meta’s acquisition of AI firm Manus.
The US pharmaceutical giant will pay $650m upfront to support 12 cancer medicine programmes with HKEX-listed Innovent; the collaboration includes co-commercialisation rights in the US and Europe.
Three brokers, including Hong Kong’s largest online brokerage Futu, have been heavily penalised by Chinese regulators, in an effort to clean up market misconduct and to curb illegal outflows.
Chinese regulators have blocked Meta’s acquisition of AI firm Manus, and fined a Chinese food firm using new overseas listing rules, as tech security concerns rise.
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