Amazon is encouraging Chinese vendors to join its new discount marketplace, Haul. The American online retail behemoth is actively marketing its fresh cost-effective shopping platform this festive season, aiming to compete with Temu and Shein.

At the moment, the process of hiring is exclusively through invitations, and it seems the Chinese supplier group is already enthusiastic about this fresh platform. A factory proprietor named Wu, who runs an Amazon shop selling nail trimmers and other items, expressed that he has not been invited to join Haul yet, and was advised to wait till the end of the year at least. However, he is eager to have his merchandise featured there.

During a recent gathering in Foshan, located in the southern region of Guangdong province, numerous international traders, Wu included, received advice from "Amazon business development representatives". These agents are responsible for training Chinese sellers on how to attract foreign customers via the platform. Haul, which was launched on November 13, has begun sending invites to chosen "top performers" who currently operate stores on Amazon, according to one manager.

Across the Pacific, Amazon is actively marketing Haul to American buyers by offering large price cuts and a guarantee that 75 per cent of the purchases will be delivered within a week. With the commencement of the festive season, the platform has launched a half-price offer for all acquisitions made by US patrons via Haul.

Every item available on Haul has a maximum price limit of $20, although most of them are sold for less than $10. Some items can be found cheaper on Haul than on other platforms. For example, an iPhone 15 case with a Christmas theme is priced at $2.99 on Haul, whereas a similar case is being sold for $3.28 on Temu.

New World Development has been stripped of its blue-chip status following its removal from the Hang Seng Index. The quarterly evaluation has introduced Kuaishou Technology, a video platform, and New Oriental Education & Technology to the Hong Kong standard.

As NWD departs, the video-sharing platform Kuaishou Technology and the New Oriental Education & Technology Group are set to become part of the stock index from December 9 onwards, according to a statement released on Friday by Hang Seng Indexes, a fully-owned subsidiary of Hang Seng Bank.

After evaluating various stock indicators in the Hang Seng index group, the mainland insurance company, PICC Property and Casualty, will be included in the Hang Seng China Enterprises Index of mainland firms trading in the urban area. Conversely, the mainland developer Longfor Group Holdings will be excluded, as stated by the compiler.

Kuaishou, a competitor of TikTok, receives a law enforcement caution concerning content control and safeguarding children. The admonition pertains to claimed delays in handling forbidden content promptly and inadequate measures to secure underage users.

The Public Security Administration has instructed Kuaishou to thoroughly enforce youth safety measures, conduct a sweeping investigation and purge of illicit content, and delete any unlawful accounts, as per the announcement made by the Cybersecurity Centre.

Kuaishou hasn't promptly replied to a comment request beyond the standard working hours on Friday.

This punitive action is a result of Beijing's increased efforts to regulate the online activities of younger individuals. In August 2023, China's leading online regulatory body, the Cyberspace Administration of China (CAC), suggested a preliminary regulation aimed at curbing online addiction and promoting socialist principles among the youth.

The organization stated previously that these regulations were created to enhance the beneficial aspects of the internet, cultivate a positive online atmosphere, curb and address issues of internet addiction among minors, and instruct them on developing appropriate internet usage practices.

Alibaba is relying on retail head Jiang Fan to boost e-commerce growth.

The consolidation of Alibaba’s local and international e-commerce enterprises is anticipated to enhance the company's operational and financial outcomes.

Medical research in Hong Kong is benefiting from Huawei's AI chips, which are providing a solution comparable to Nvidia's technology. The Chinese Academy of Sciences' AI research center is utilizing these Huawei chips to fuel their Cares Copilot model, a tool designed to assist in surgical procedures.

The CAS founded the Centre for Artificial Intelligence and Robotics (CAIR) in Hong Kong back in 2019. This past Friday, they unveiled their latest AI model, Cares Copilot 2.0. The design of this new model is aimed at helping surgeons with various tasks such as surgical planning, creating diagnostic reports, and finding similar case histories.

In August 2023, CAIR and Huawei entered into a collaborative agreement, stating that they plan to join forces to incorporate AI technology in surgical procedures.

"During that period, we believed that, for the foreseeable future, the US would undoubtedly continue to limit our access to high-end chips due to political and geographical considerations," stated Liu. "Being a research institution, it was necessary for us to formulate backup strategies."

Liu asserts that the proficiency of Huawei's AI chips has rapidly progressed since that time.

"The advancement is noticeably swift," commented Liu. "At first, we needed one to two months to finish the whole training with the same data set. But later on, it managed to complete the training in just a week."

A court in Shanghai has ruled that owning cryptocurrency is legal under Chinese law, coinciding with an increase in bitcoin's value. A judge in Shanghai recently stated in a case review that digital currencies possess the characteristics of property, hence their possession is lawful.

Beijing perceives cryptocurrencies as a danger to economic stability, and any business operations involving these assets continue to be prohibited within mainland China, casting uncertainty on their legal status.

Cryptocurrency, being a digital asset akin to property, is not deemed illegal under Chinese law, according to Sun. However, this legal status does not apply to commercial operations involving cryptocurrencies as they can potentially destabilize the economy and financial system, or be used as a means of payment for illicit activities, the judge pointed out.

"This is the reason why stringent measures are always enforced on speculative behavior in cryptocurrency trading," stated Sun in his viewpoint.

Is Asia being left behind in the expansion of private markets?

The worldwide industrial revival, fueled by shifts in energy sources and the progression of digitalization, is projected to require trillions of dollars in investment over the upcoming ten years. At the same time, private funding markets are developing to provide alternatives to traditional banking and bond lending, as well as equity markets. What does this convergence of trends mean for Asia's wealthy individuals?

[The information in this article has been created by our promotional collaborator.]

"Private markets have traditionally been the domain of institutional investors, owing to their intricate nature," explains Mathieu Forcioli, the Global and Asia Pacific Chief of Alternatives at HSBC Global Private Banking. "However, lately, managers of private markets have shifted their attention significantly towards high-net-worth individuals."

A study carried out by HSBC Global Private Banking in 2024 revealed that a mere 25% of high-net-worth investors in Hong Kong reported having access to a broad array of alternative investment options. However, nearly triple that number expressed their confidence in investing in such options. Similar discrepancies in access were observed in the data from mainland China, Singapore, Taiwan, and India.

The commencement of a new phase in Hong Kong's longest-running professional sports event is set in motion by Link, the title sponsor of the Hong Kong Golf Open. This article's content is provided by our promotional collaborator.

The Hong Kong Open golf tournament, a highly respected and emblematic sports event in Hong Kong, is set to take place again in late November. For the upcoming three years, Link Asset Management Limited (Link) will be stepping in as the new main sponsor.

The Hong Kong Open, sponsored by The Link, is set to take place at the Hong Kong Golf Club in Fanling from November 21st to 24th. This year is particularly special as it celebrates the 135th year of the Hong Kong Golf Club's establishment. Some top global professional golf players will be in contention for a grand prize of $2 million.

In celebration of this unique event, the Hong Kong Open's famous composite course's 18 holes will each bear the name of one of Hong Kong's 18 districts. This novel idea aims to engage the general populace and mirrors the intention of making golf a more community-friendly sport within the city.

Collaborating with a notable golf tournament such as the Link Hong Kong Open is an excellent fit and provides a fantastic chance to highlight Link's image as a real estate investment manager based in Hong Kong. Link has strong connections to the local community and a regional platform capable of taking on international opportunities.

Analyzing the typical assortment of golf clubs carried by any pro golfer, we can identify commonalities and the profound implications of their choices. These minute differences often determine victory and championship status, not only in the game of golf but also in managing your investment portfolio.

Bill Hwang, the creator of Archegos, has been given an 18-year prison term for a major fraud case in the United States. Hwang's privately-held hedge fund was implicated in a market rigging plot that reportedly resulted in billions of dollars in losses for international investment banks.

Ex-billionaire trader, Bill Hwang, received an 18-year jail term on Wednesday due to the downfall of Archegos Capital Management, an event that led to Wall Street banks losing over US$10 billion.

US District Judge Alvin Hellerstein, based in Manhattan, handed down a sentence to Hwang. This follows Hwang's conviction by a jury in July on ten criminal counts. These included wire fraud, securities fraud and market manipulation.

"The damages inflicted by your actions surpass any other I've encountered," Hellerstein stated prior to declaring the verdict.

The sudden collapse of Archegos in March 2021, which occurred in under a week, left Wall Street and Hwang's creditors in shock.

The Manhattan US Attorney's office has advocated for a 21-year imprisonment sentence for Hwang. This length of sentence is atypical for financial crimes. Additionally, they are pushing for him to surrender $12.35 billion and provide compensation to those affected.

Meituan plans to initiate drone delivery services in Hong Kong's low-altitude economy. This food delivery behemoth is among many Chinese technology powerhouses contending for fresh expansion in Hong Kong.

The corporation, already providing drone delivery services in key Chinese cities such as Beijing, its headquarters, alongside Shanghai and Shenzhen, intends to seek membership in Hong Kong's low-altitude economy regulatory sandbox, as stated by Mao, the leader of Meituan's drone delivery department.

The term "low-altitude economy" pertains to operations carried out in airspace under 1,000 meters. After it was designated as a "strategic emerging industry" by the Chinese government in December of the previous year, John Lee Ka-chiu, Hong Kong's Chief Executive, vowed in his yearly policy speech last month to foster growth in this sector through various practical uses. These include rescue missions, mapping, product transportation, and passenger commute.

Mao suggests that the undulating landscape of Hong Kong may provide drones with an advantage in making deliveries, when compared to traditional ground methods. Yan Yan, who leads public affairs for Meituan's drone department, informed Hong Kong Commercial Daily, a local news outlet, that drones are capable of delivering meals in an average of 15 to 20 minutes. This is roughly half the time required for conventional delivery methods.

Blackstone is set to coach wealth managers in Hong Kong as private assets become more attractive to investors. The alternative asset manager is kicking off the Blackstone University program in collaboration with the Private Wealth Management Association.

The firm, having operated the Blackstone University scheme internationally for 13 years, is set to introduce it in Hong Kong in association with the Private Wealth Management Association (PWMA).

The objective of the program is to equip wealth managers with the necessary skills and tools to assist personal investors who are progressively seeking to broaden their investment portfolios and channel their resources into private markets, as stated by the PWMA and Blackstone on Thursday.

"Despite the growing trend towards the use of private markets, the allocation for individual investors is still relatively low," commented Ed Huang, the Asia-Pacific lead for Blackstone Private Wealth Solutions. "We predict that this allocation is set to increase as wealth management experts and individual investors strive for diversifying their portfolio and appealing risk-adjusted returns."

Alibaba's chief executive underscores AI progress at Chinese internet conference

This year's Wuzhen meeting puts a significant emphasis on AI, amid escalating tech competition between China and the US.

The online retail behemoth is dedicated to establishing the foundational infrastructure and backing mechanisms for AI progression in the nation, Wu informed participants at the World Internet Conference held by the Cyberspace Administration of China in the waterfront town of Wuzhen in east Zhejiang province.

"Over the next 30 years, AI is expected to significantly boost global productivity," he remarked, as quoted in a press release by Alibaba, the parent company of the South China Morning Post.

"Artificial intelligence is progressively infiltrating different sectors to fuel a range of efficiency transformations," stated Wu, noting that the company currently provides open-source iterations of its AI models for utilization by partners in conventional industries.