SF Holding, a major Chinese delivery company, is aiming to raise as much as $793 million through an initial public offering (IPO) in Hong Kong. The company, which is the biggest express delivery service in China, plans to sell 170 million shares priced between HK$32.30 and HK$36.30 each. The public listing is scheduled for November 27th.

SF Holding, the largest courier company in China, aims to generate up to HK$6.2 billion (US$793 million) from its listing in Hong Kong, marking yet another significant stock offering in the city this year.

The firm is set to begin accepting investments from shareholders starting Tuesday, with plans to publicly trade its stocks by November 27, as noted in its listing document. They're putting up 170 million shares for sale, each priced between HK$32.30 and HK$36.30.

If the shares are sold at the minimum advertised price, SF would receive a roughly 29% markdown compared to its Shenzhen-listed stock as of Monday. The firm, which has seen its shares increase by approximately 5% this year, currently holds a market capitalization of 204 billion yuan (equivalent to US$28 billion).

SF managed to raise around US$205 million from key investors, which includes a division of the smartphone manufacturer, Xiaomi.

Key partners who have committed to maintaining their shares for a minimum of six months include the investment company Oaktree Capital Management, a branch of the Hong Kong-based property developer Sino Land, and a fund supported by the family of Henry Cheng Kar-shun, the wealthy chair of property developer New World Development.

Citic boosts its presence in Saudi Arabia with the 3,500-house Tilal Khuzam scheme in Riyadh. The project, also known as Khuzam Hills, includes multiple phases, with the first one expected to be completed in 2026, as stated on the website of Citic's associate, Rafal.

A major Chinese state-controlled property developer is collaborating with Saudi Arabian firms to initiate a significant residential real estate venture in Riyadh. This move is aimed at increasing its presence in the Middle East due to a declining market domestically.

Steered by the Saudi Vision 2030 initiative, introduced in 2019 by Crown Prince Mohammed bin Salman, Saudi Arabia is enhancing its infrastructure with the aim of drawing international expertise to aid in the transition and diversification of its economy, which primarily relies on oil. The country initiated its housing programme in 2018, marking it as the first nation worldwide to establish national strategic objectives for home ownership.

In order to advance their efforts, the country is enhancing its relationship with mainland China. Saudi Arabia has formed the NHC and the REGA, which fall under the Ministry of Housing and Urban-Rural Affairs, to assist in carrying out their housing project. The goal is to have a total of about 300,000 homes available by the year 2030 and achieve a home ownership rate of 70 percent.

Rafal, founded in 2007, holds approximately 10 property developments consisting of residential buildings, houses, and office-villas.

Foxconn, the company that manufactures iPhones, is collaborating with Nvidia to create AI-based factories. The partnership aims to produce "digital twins" to aid in the construction of high-tech facilities globally.

Foxconn disclosed in a statement on Monday that they are partnering with Nvidia to create digital twins with the goal of revolutionizing manufacturing procedures and supply chain administration. This alliance is anticipated to aid in the worldwide launch of cutting-edge facilities, improving business robustness and creating new possibilities for innovation in these areas.

The partnership was initially revealed at the Hon Hai Tech Day 2023 event, where Foxconn demonstrated its application of Nvidia's Omniverse platform to generate a 3D digital replica for the purpose of simulating automated production lines at its factory in Hsinchu, Taiwan. There are ongoing plans to broaden the use of Omniverse across other Foxconn factories globally.

At the same time, advancements in the firm's Mexico site underscore the incorporation of Nvidia Omniverse, Nvidia Isaac for robotics, Nvidia Modulus for AI-based simulations, and OpenUSD for smooth data exchange.

The utilization of digital twin technology allows Foxconn to swiftly expand its operations by virtually modeling procedures prior to actual execution. This functionality aids the firm's global expansion plans, enabling it to duplicate and homogenize production lines across different areas with remarkable effectiveness. Foxconn enhances its competitive edge in key global markets by guaranteeing uniform quality and accuracy.

Summary | Indications of Stability in China's Real Estate Market, Economists Advocate for Changes, Tax Relief in Beijing: 5 Notable Stories on Chinese Property

The decelerating drop in new home prices, combined with policy backing, is leading to increased sales, while tax incentives in major cities aim to stimulate the market. Check out our most recent reports on the Chinese real estate sector.

1. China's fresh housing market prices indicate a trend towards steadiness; Beijing, Shanghai, Guangzhou, Shenzhen spearhead the upturn

Prices experienced a downturn for the 17th consecutive month in October, however, the rate of decline was less rapid, suggesting that the latest remedial actions might be effective. Prices in 70 cities saw a 0.5 per cent decrease on a monthly basis, marking the most sluggish rate in seven months, with first-tier cities witnessing a less steep drop.

2. Surge in home sales by Chinese developers as market mood shifts; 20 per cent decrease in supply witnessed in Shanghai, Shenzhen

The month of October saw a boom in sales and a wave of new projects due to governmental policy backing and tax adjustments. There was a 73 per cent rise in sales for the leading 100 developers compared to the preceding month.

3. Financial experts at Renmin University conference encourage Beijing to address China's real estate issues

The conference echoed demands for changes to avert debt crises, reestablish market trust, and achieve Beijing's GDP growth goals of 5 per cent. Increased sales in key cities provide optimism, but worries about declining real estate values remain.

Guangzhou plans to modify the 'hukou' residency structure in a significant effort to boost housing sales. The city, which is the capital of the Guangdong province in the south, is burdened with 13.2 million square meters of unsold residences, a situation that would take nearly two years to rectify.

Guangzhou is set to implement fresh initiatives that will allow prospective homeowners to acquire local residency, outpacing competing major Chinese cities in adjusting the household registration process to boost property sales. This comes in the wake of the central government's efforts to salvage the real estate market.

Individuals who have purchased properties in any of the seven city divisions – Baiyun, Huangpu, Huadu, Panyu, Nansha, Conghua, and Zengcheng – and have made social insurance payments for a year, can qualify to request for hukou or formal residency, as per the city's local authorities.

People who have contributed a minimum of 200,000 yuan (US$27,650) in income tax in Guangzhou for the last three straight years are now eligible to apply for a hukou, as per the latest proposals released late on Monday.

"Chen Xueqiang, an analyst at China Index Academy, suggests that these incentives will stimulate demand to a certain degree. He also notes that easing hukou regulations could entice and keep skilled individuals in the city, which could eventually lead to a surge in demand for housing."

The leading 30 property developers in Guangzhou experienced a 13% reduction in new home sales in the first ten months compared to the same period last year, as reported by China Real Estate Information Corp. This decline reflects the nationwide decrease in housing sales. Based on data from the China Index Academy, the city holds 13.2 million square meters of unsold properties, which, considering the current demand, could take around 22 months to sell.

Asia is set to fuel worldwide expansion as the 'China plus one' strategy gains traction in the wake of Trump's comeback. Shifting investments from China to surrounding markets to safeguard against tariffs and geopolitical threats is projected to enhance Asia's economic growth, according to HSBC's Elhedery.

Business leaders at a summit in Hong Kong on Tuesday suggested that Asia is likely to be the major contributor to global growth this year, despite the potential risks associated with geopolitical instability and extra tariffs, particularly with Donald Trump coming back to the White House.

The approach known as "China plus one," which involves shifting investments from China to nearby economies as protection against tariffs and geopolitical uncertainties, will stimulate overall growth in Asia, according to Georges Elhedery, the chief executive officer of HSBC Holdings. He made this statement at the Global Financial Leaders' Investment Summit.

Approximately half of the foreign direct investment (FDI) in the Association of Southeast Asian Nations (ASEAN) originates from China, making it the dominant investor in the region, as stated in a panel discussion titled "Investing in Asia: outlook and opportunities". As per data from the business consultancy firm Dezan Shira & Associates, China's FDI in this 10-country alliance was recorded at US$25.12 billion last year, witnessing a surge of over one-third from 2022.

"China now considers ASEAN as its biggest trade ally, surpassing both Europe and the United States," stated Elhedery. "This has resulted in a substantial advantage, creating a beneficial cycle in Asia with this 'China plus one' opportunity," he added.

Asia is forecasted to continue being the global powerhouse for economic growth. It's predicted that the region will report an economic expansion of approximately 4.6 per cent this year, making up around 60 per cent of the world's growth, as stated by the International Monetary Fund. The growth for the upcoming year is anticipated to be around 4.4 per cent.

Google has listed Keeta, owned by Meituan, and the video game AFK Journey, as some of the 'Best of 2024' Android applications. This recent acknowledgement of Keeta and AFK Journey highlights the growing refinement of app developers in China.

Alibaba's Stock Connect link demonstrates the power of Hong Kong as a pathway to mainland markets. Mainland investors have accumulated 4 per cent of Alibaba's public float, and have contributed to 15 per cent of its trading volume via the Stock Connect program.

The financial market in Hong Kong is effectively acting as a powerful link between international fund managers and the financial markets in mainland China. This is evident with Alibaba Group Holding's enhanced listing status, which provides advantages to investors from both arenas.

Ever since becoming part of the Stock Connect program on September 10, domestic investors have acquired 4 per cent of the openly traded shares in the country's leading e-commerce platform operator, according to the company's co-founder and chairman, Joe Tsai. Furthermore, he mentioned that these investors were responsible for 15 per cent of the stock's turnover in less than a quarter year.

On August 28, Alibaba changed its listing status to dual-primary to qualify for the scheme, which provides mainland investors the opportunity to invest in one of the country's most successful tech companies. Alibaba is the proprietor of the Taobao and Tmall platforms, as well as the Alipay payment systems. Additionally, it owns the South China Morning Post.

"The primary benefit of being primarily listed in Hong Kong is that it opens up opportunities to investors from the mainland via the Stock Connect programme," stated Tsai during an informal discussion at the Global Financial Leaders' Investment Summit, which was facilitated by the Hong Kong Monetary Authority, on Tuesday. "This significantly increases the liquidity of our stocks."

Alibaba first opened its doors to international investors when it launched its shares in an unprecedented global stock offering worth US$25 billion in September 2014. The company later conducted a secondary share listing in Hong Kong in November 2019, simplifying the process for regional investors to purchase and track its stock.

The Stock Connect program, celebrating its 10th anniversary this week, provides an avenue for mainland investors to purchase shares listed in Hong Kong while adhering to China's stringent capital regulations. It also grants foreign investors the opportunity to invest in shares denominated in yuan, listed on the Shanghai and Shenzhen exchanges, through Hong Kong.

"Our clients and users are well-versed with our products but lack knowledge about our stocks," Tsai observed, highlighting that over 90% of their business is conducted in the mainland. "At present, mainland investors have the opportunity to invest in our stocks."

HSBC, Cathay Pacific, and EcoCeres collaborate for sustainable aviation fuel initiative in Hong Kong

The agreement reduces greenhouse gases equivalent to 10,000 return journeys from Hong Kong to London, according to the financial institution.

HSBC has made a pioneering move in Hong Kong by being the first to directly buy sustainable aviation fuel (SAF) for corporate use, in an effort to reduce its carbon emissions from travel. This comes before any government initiatives promoting the usage of this fuel, as part of the city's efforts to achieve its climate objectives.

On Tuesday, it was declared that the city's biggest bank has consented to a unique arrangement to purchase 3,400 tons of SAF from EcoCeres, a biofuel production company that was established in 2021 as a separate entity from the city's leading piped gas provider, Hong Kong and China Gas (Towngas). This was part of a tripartite agreement.

The energy source will be employed in flights run by leading airline Cathay Pacific, taking off from Hong Kong International Airport.

"This represents the most significant SAF acquisition ever made by HSBC," stated Luanne Lim, the Chief Executive Officer of the global bank's Hong Kong division. "The Hong Kong project will act as a trial scheme that could potentially facilitate wider adoption."

The agreement is set to eradicate approximately 11,800 tonnes of carbon emissions, which is comparable to the carbon impact of 10,000 return, economy-class journeys from Hong Kong to London, she further explained.

Alice Suen, who leads the bank's sustainable finance activities, stated that Cathay constitutes approximately 80% of the bank's airline transactions in Hong Kong.

Baidu reports that the price of autonomous vehicles has reduced to $34,525 as large-scale manufacturing accelerates. Baidu's CEO, Robin Li, announced that the RT6 is currently the only Level-4 self-driving car in mass production worldwide.

On Tuesday, Baidu, a prominent technology company in China, announced that it has reduced the manufacturing cost of its Apollo RT6 autonomous vehicle to 250,000 yuan (US$34,525) each. This is a noteworthy advancement in making self-driving cars more affordable and prevalent in China.

At a business gathering in Wuhan, the heart of Hubei province, Baidu's co-founder, chairman, and CEO, Robin Li Yanhong, announced that the RT6 is currently the only Level-4 autonomous driving vehicle being produced on a large scale globally. This statement underscores the company's edge over its rivals, as per local news outlets.

"Tesla embodies an alternate technological trajectory… they aimed to advance from L2 to L4, and they're still in the process of achieving it," declared Li at the occasion.

The international norms organization, SAE International, has outlined six stages of self-driving technology, beginning from Level 0 which has zero automation. Level 4 signifies autonomous driving where human involvement is typically unnecessary.

Earlier this year, Baidu's Apollo vehicles created quite a stir in Wuhan by drawing local customers with their inexpensive service. However, conventional taxi drivers in the city expressed worry that this novel technology could threaten their livelihoods.

Chinese Augmented Reality company Rokid is integrating Alibaba's artificial intelligence into its smart glasses, challenging Meta. The latest smart glasses from Rokid, priced at $345, are the newest Chinese product to leverage generative AI, aiming to profit from the rapidly growing product sector.

The spectacles incorporate technology from Alibaba's Tongyi Qianwen range of LLMs, which represents the start-up's most significant attempt to penetrate the consumer market, as conveyed by Zhu to the South China Morning Post, a publication owned by Alibaba.

In September, Meta hinted at the creation of what they called "Orion," touted as the most sophisticated AR glasses to date. However, they acknowledged that the current production cost is too high for widespread consumer distribution. These glasses function as fully independent computers. Other more affordable AR glasses, like those previously produced by Rokid, rely on mirroring images from another device, such as a smartphone, through a USB-C connection.

The Brazilian representative indicates that investments from China in new energy are encouraged. The diplomat from Brazil points out that the significant potential in their new energy sector makes the country an attractive prospect for Chinese investors.

While the US and the EU have swiftly imposed tariffs and trade barriers on China's electric vehicle (EV) industry to limit its influence, the chief representative from Brazil in Hong Kong has expressed that his country is open to increased investment from Beijing in this rapidly growing and profitable sector.

"Connections have grown significantly vital and robust," stated Consul General Manuel Innocencio De Lacerda Santos Jnr during a discussion with the Post the previous month. "China's financial involvement in Brazil is primarily concentrated on the green energy industry – including wind, solar, and hydropower – due to Brazil's prowess in these sectors."

Based on data from China's customs, Brazil has consistently exported over US$100 billion worth of goods to China for the past three years. China has remained Brazil's top trade ally for a straight 15 years.

Two minutes past two

Analysts predict that the bond between China and Brazil is expected to fortify with the recent election of Lula as the

The diplomat pointed out that the two countries complement each other, highlighting the potential for further collaboration in digital services and biotechnology. Although Brazil may not be at the forefront of semiconductors or artificial intelligence (AI) like China, Santos suggested that AI could be employed to enhance efficiency and sustainability in the agricultural sector.