Christina Zhu, the head of Walmart's China business, remembers when Chinese shoppers did not have much choice.
As a child, she watched her parents wake up at 4:30 a.m. on Sundays to go to the wet market. "They had to haggle, and high-quality produce wasn't always guaranteed," Zhu, born in 1973, recalled at the Fortune Leaders Forum in Macau in September.
Today, Chinese shoppers are "probably the group with the most choices [in the world]," and they have become "the most demanding customers," she said.
Meeting those rising expectations has become the defining challenge for retailers in China, and Walmart has managed it better than most. It entered China in 1996 with a Supercenter and a Sam's Club in Shenzhen. Three decades later, the U.S. retailer is thriving in the world's second-largest economy even as other foreign brands struggle.
China represents 3% of Walmart's overall business, but it is growing, generating $24.6 billion in sales in its past fiscal year, a 19.3% jump. Sales grew 20.7% last quarter, faster than the 5.9% reported by the company as a whole.

#China

Baidu announced on September 4 that its Hong Kong Class A shares are now included in both the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs, effective September 7.. The change gives eligible mainland investors direct access to the Hong Kong listing, potentially widening liquidity and the shareholder base. It does not alter the operating competition between Baidu, Inc. (NASDAQ:BIDU) and Alibaba Group Holding Limited (NYSE:BABA), which are pursuing AI through different mixes of models, cloud infrastructure, chips, and consumer distribution.
Baidu's bull case combines search traffic, its Ernie ecosystem, cloud services, and Kunlunxin chips. Stock Connect can make that story easier for mainland investors to own, while its dual-primary Hong Kong listing broadens access. The bear case is that improved trading access does not repair weak advertising, guarantee cloud share, or remove geopolitical and regulatory risk. The catalyst affects liquidity more directly than earnings.
Insider Monkey counted 49 hedge funds holding Baidu, Inc. (NASDAQ:BIDU) at June 30, down from 50 at March 31. David Tepper's Appaloosa Management disclosed 1,295,000 shares, 87% more than in Q1. That increase shows one manager's conviction, not a broad rise in fund participation.
Alibaba's June-quarter AI Cloud and Compute Services revenue reached $7.1 billion, up 45% year over year, while segment adjusted EBITA rose 133% to $830 million. Its bull case is a full stack spanning Qwen models, cloud, proprietary chips, and commerce distribution. The bear case is capital intensity, fierce domestic competition, exposure to consumer spending, and the possibility that fast AI growth remains too small to transform the larger group's valuation.
Ninety-seven hedge funds held Alibaba Group Holding Limited (NYSE:BABA) in Q2, down from 102 in Q1. Ken Fisher's Fisher **** et Management disclosed 5,096,418 shares after trimming the position by 0.5%.

#kong #holding

Baidu announced on September 4 that its Hong Kong Class A shares are now included in both the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs, effective September 7.. The change gives eligible mainland investors direct access to the Hong Kong listing, potentially widening liquidity and the shareholder base. It does not alter the operating competition between Baidu, Inc. (NASDAQ:BIDU) and Alibaba Group Holding Limited (NYSE:BABA), which are pursuing AI through different mixes of models, cloud infrastructure, chips, and consumer distribution.
Baidu's bull case combines search traffic, its Ernie ecosystem, cloud services, and Kunlunxin chips. Stock Connect can make that story easier for mainland investors to own, while its dual-primary Hong Kong listing broadens access. The bear case is that improved trading access does not repair weak advertising, guarantee cloud share, or remove geopolitical and regulatory risk. The catalyst affects liquidity more directly than earnings.
Insider Monkey counted 49 hedge funds holding Baidu, Inc. (NASDAQ:BIDU) at June 30, down from 50 at March 31. David Tepper's Appaloosa Management disclosed 1,295,000 shares, 87% more than in Q1. That increase shows one manager's conviction, not a broad rise in fund participation.
Alibaba's June-quarter AI Cloud and Compute Services revenue reached $7.1 billion, up 45% year over year, while segment adjusted EBITA rose 133% to $830 million. Its bull case is a full stack spanning Qwen models, cloud, proprietary chips, and commerce distribution. The bear case is capital intensity, fierce domestic competition, exposure to consumer spending, and the possibility that fast AI growth remains too small to transform the larger group's valuation.
Ninety-seven hedge funds held Alibaba Group Holding Limited (NYSE:BABA) in Q2, down from 102 in Q1. Ken Fisher's Fisher **** et Management disclosed 5,096,418 shares after trimming the position by 0.5%.

#kong #cloud

MOSCOW, Sept 1 (Reuters) - Kremlin aide Yuri Ushakov said on Tuesday that Russian ‌President Vladimir Putin, U.S. President Donald ‌Trump and Chinese President Xi Jinping may hold a trilateral meeting at the next Asia-Pacific Economic Cooperation summit in November.
Asked on state TV about the possibility of such a meeting, ‌Ushakov said: "This ⁠issue was discussed, yes."
He said all three leaders were expected to ⁠attend the summit, adding: "And if it turns out as has been said, then the three of them will be able to have a ‌meeting."
Ushakov was speaking from the Kyrgyz capital Bishkek, where Putin and Xi had attended a gathering of the Shanghai Cooperation Organisation.
Russia, China and the United States are part ‌of the 21-member APEC. Shenzhen, China, will host the next leaders' summit November 18-19.

#next

Shenzhen Longsys Electronics, a Chinese semiconductor company, is seeking up to HK$6.28 billion, or about $800 million, from a Hong Kong share sale.
The company set out the terms in a listing document on Monday. The memory chipmaker already trades in Shenzhen. Its Hong Kong offer price sits well below where the mainland stock trades.
Longsys is offering about 26 million shares at a maximum price of HK$240.60 per share. That sits 45% below the 376.88 yuan close in Shenzhen on Friday, Bloomberg reported. The stock has gained nearly 33% in 2026.
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The company expects to set the final offer price on September 4 and publish the allocation results by September 7. Trading of its H shares is expected to begin on September 8.

#september #price #trades

UPS disclosed Monday that it is investing more than $2 billion across its international, healthcare, and supply chain solutions businesses, revealing the total figure for the first time. The investments began in 2024 and are set to continue through 2028, the company said.
Scott Szwast, UPS vice president of international strategy, framed the spending as an effort to build out capabilities that help customers in specialized sectors navigate increasingly complicated global supply chains. "These investments are really aligned to one of our big strategic areas of focus, which is creating capabilities to enable our customers, particularly in complex industries, to more effectively run their global supply chains," he told CNBC.
Among the initiatives are a new hub in the Philippines slated for this year, a facility in Ontario, Canada, due to open in 2027, and an air hub at Hong Kong International Airport scheduled for 2028. UPS has also opened a technology-enabled logistics center in Taiwan and an Amsterdam facility that integrates freight forwarding, customs brokerage, and cold-chain capabilities under one roof. The Taiwan facility has used automation and robotics to cut total supply chain time by one day, Szwast said. UPS also operates weekly service on the Paris–Hong Kong route and the Shenzhen–Sydney route, each running five days a week.
Szwast said that as global supply chains come under growing strain, companies have moved to spread risk across multiple sourcing and distribution points rather than relying on a single node, even as those same businesses push out new products with unfamiliar logistics demands faster than ever before. "What they find in a lot of cases is that their supply chains look more like their histories than their strategies," he said.
The $2 billion figure encompasses a previously announced $48 million buildout of 27 temperature-controlled facilities across the Americas, Europe, and Asia aimed at handling temperature-sensitive pharmaceuticals, including GLP-1 weight loss drugs. UPS said the healthcare initiative is part of its broader effort to grow in higher-margin logistics services.

#global #Logistics

UPS disclosed Monday that it is investing more than $2 billion across its international, healthcare, and supply chain solutions businesses, revealing the total figure for the first time. The investments began in 2024 and are set to continue through 2028, the company said.
Scott Szwast, UPS vice president of international strategy, framed the spending as an effort to build out capabilities that help customers in specialized sectors navigate increasingly complicated global supply chains. "These investments are really aligned to one of our big strategic areas of focus, which is creating capabilities to enable our customers, particularly in complex industries, to more effectively run their global supply chains," he told CNBC.
Among the initiatives are a new hub in the Philippines slated for this year, a facility in Ontario, Canada, due to open in 2027, and an air hub at Hong Kong International Airport scheduled for 2028. UPS has also opened a technology-enabled logistics center in Taiwan and an Amsterdam facility that integrates freight forwarding, customs brokerage, and cold-chain capabilities under one roof. The Taiwan facility has used automation and robotics to cut total supply chain time by one day, Szwast said. UPS also operates weekly service on the Paris–Hong Kong route and the Shenzhen–Sydney route, each running five days a week.
Szwast said that as global supply chains come under growing strain, companies have moved to spread risk across multiple sourcing and distribution points rather than relying on a single node, even as those same businesses push out new products with unfamiliar logistics demands faster than ever before. "What they find in a lot of cases is that their supply chains look more like their histories than their strategies," he said.
The $2 billion figure encompasses a previously announced $48 million buildout of 27 temperature-controlled facilities across the Americas, Europe, and Asia aimed at handling temperature-sensitive pharmaceuticals, including GLP-1 weight loss drugs. UPS said the healthcare initiative is part of its broader effort to grow in higher-margin logistics services.

#chains #facility #Logistics

On August 12, Tencent Music Entertainment Group (NYSE:TME) held its second-quarter 2026 earnings call, and the numbers told a story bigger than a music app. Total revenue reached RMB 8.9 billion, up 6% year over year, with the freshly consolidated audio platform Ximalaya adding roughly RMB 0.4 billion of that total. Music-related services revenue climbed 11%, and membership revenue rose 8% to RMB 4.8 billion. But the more interesting shift is happening beyond the subscription numbers, in concert stadiums, merchandise tables and a new audio business the company is only beginning to fold in.
Tencent Music is no longer content collecting streaming fees. Management pointed to live entertainment and artist merchandise as the fastest-growing part of the business, with both delivering strong double-digit year-over-year growth in the quarter. One collaborating rapper's stadium tour opener in Xi'an drew more than 30,000 fans, while another artist wrapped two consecutive sold-out arena shows in Hangzhou and a third sold-out debut arena show in Shenzhen quickly after tickets went on sale. The company's own concert franchise, TIMA, moved to a larger Hong Kong venue this year and more than tripled its audience capacity from last year's event. Fan meetings in Macau for an SM Entertainment trainee group drew tens of thousands of attendees and strong merchandise sales, and the company also invested in The Black Label to expand artist promotion and merchandise collaboration. None of this shows up cleanly in a subscriber count, but it is where TME is choosing to put its energy and capital.
The financial base underneath these bets held up too. Adjusted EBITDA rose 5% to RMB 3.3 billion, non-IFRS net profit attributable to equity holders rose to RMB 2.5 billion from RMB 2.4 billion a year earlier, and IFRS net profit climbed 4% to RMB 2.7 billion. Combined cash, deposits and short-term investments grew to RMB 44.2 billion from RMB 41 billion just three months earlier. The company also kept buying back stock, repurchasing 43.5 million shares for $400 million during the quarter under a program it expects to complete on schedule.
The acquisition that management is most excited about is also the one that muddies the picture. Ximalaya's consolidation contributed positively to both membership and advertising revenue this quarter, and after accounting for amortization of intangible ******* ets under purchase accounting, it had a favorable effect on gross margin as well. That is a lot of moving parts feeding into headline numbers that otherwise look straightforward. Strip out the roughly RMB 0.4 billion Ximalaya added, and the underlying growth rate looks noticeably softer than the 6% topline figure suggests.

#billion #music #revenue #rose

DHL Express has completed the $204 million expansion of its "super gateway" at Shenzhen Bao'an International Airport in South China's Guangdong province, tripling shipping capacity to 992 tons per day and enabling more direct cargo flights.
The project represents the company's largest investment in mainland China to date, supporting cross-border trade and time-definite international express services in one of China's most important manufacturing and export regions.
A gateway in the DHL network is a regional connection point that links local service centers to the global network. Some shipments from producers in Shenzhen and trucked to DHL's main terminal at Hong Kong International Airport if they need to reach other intercontinental hubs.
Once at full capacity, annual throughput is expected to exceed 286,000 tons, about 10 times the volume handled by the previous Shenzhen gateway, according to the China Daily News. Construction of the facility began in 2022. The heavily automated facility features high-speed sorting systems, automated storage, robotic arms and automated guided vehicles designed to efficiently and safely unload, store, handle, inspect and monitor parcels and larger shipments.
Complementing the expansion of shipment processing capacity, DHL has introduced a new dedicated air route with a widebody Boeing 767 cargo jet linking Shanghai; Bangkok, Thailand; Bahrain and Brussels, Belgium, to meet demand for air cargo transport between China and key markets across Asia, the Middle East and Europe, DHL announced this week.

#shenzhen #international #airport #express

DHL Express has completed the $204 million expansion of its "super gateway" at Shenzhen Bao'an International Airport in South China's Guangdong province, tripling shipping capacity to 992 tons per day and enabling more direct cargo flights.
The project represents the company's largest investment in mainland China to date, supporting cross-border trade and time-definite international express services in one of China's most important manufacturing and export regions.
A gateway in the DHL network is a regional connection point that links local service centers to the global network. Some shipments from producers in Shenzhen and trucked to DHL's main terminal at Hong Kong International Airport if they need to reach other intercontinental hubs.
Once at full capacity, annual throughput is expected to exceed 286,000 tons, about 10 times the volume handled by the previous Shenzhen gateway, according to the China Daily News. Construction of the facility began in 2022. The heavily automated facility features high-speed sorting systems, automated storage, robotic arms and automated guided vehicles designed to efficiently and safely unload, store, handle, inspect and monitor parcels and larger shipments.
Complementing the expansion of shipment processing capacity, DHL has introduced a new dedicated air route with a widebody Boeing 767 cargo jet linking Shanghai; Bangkok, Thailand; Bahrain and Brussels, Belgium, to meet demand for air cargo transport between China and key markets across Asia, the Middle East and Europe, DHL announced this week.

#China #capacity #cargo #express

All our journeys begin with a plane. A flight that takes us far away, to the other side of the world, with one certainty accompanying every departure: wherever we land, we will find an Inter family waiting for us.
That is the strength of being an Inter fan. A bond that knows no boundaries and, if anything, seems to grow stronger the further we are from Milan and San Siro. From Hong Kong to Perth, the affection, passion and unwavering devotion to the Nerazzurri colours never once wavered. Chants, banners, marches: a home away from home.
Ten days on tour that brought together football and people. Three high-level international fixtures against Manchester City, AC Milan and Juventus provided the team with valuable competitive minutes and momentum, with goals, key insights and important playing time ahead of the new season. In Hong Kong came the opening fixture against Manchester City, in a spectacular global setting; in Perth, the historic derby against AC Milan, the first to be played on Australian soil; and finally, the clash with Juventus to bring the tour to a close.
In Hong Kong, Inter built a continuous presence day after day. The team's arrival with partner Qatar Airways, travelling around the city and taking part in various local activities. The visit to BYD's headquarters in Shenzhen, at the heart of one of the world's most advanced technology hubs. In the city, the Fanatics Store at Hysan Place became a meeting point for the Nerazzurri faithful, where Christian Vieri met supporters for photos, autographs and a constant stream of passionate fans.In the stands during Manchester City vs. Inter, the supporters' choreography filled the stadium with colour, transforming an international fixture into a powerful expression of identity. Then, in the evening, the skyline took centre stage: a drone show lit up the Hong Kong sky with Nerazzurri symbols, colours and references, taking the Club beyond the pitch and into the heart of the city.
In Perth, the story became even more tangible and community-focused. Brookfield Place was transformed into the heart of Nerazzurri life: a fan zone, a meeting place and a shared ******* e for anticipation. Supporters and Inter Club members travelling from Sydney, Melbourne, Adelaide, Perth and Indonesia, along with youngsters from Inter Academy Sydney, gathered in the same places every day, creating a genuine sense of continuity between the team and the community.

#kong #nerazzurri #Milan #place

Solana Company (NASDAQ: $HSDT) is taking its public-market Solana strategy into Central Asia through a new partnership with Alatau City, Kazakhstan's planned technology and digital finance hub.
The company signed a memorandum of understanding with the Administration of Alatau City to support blockchain infrastructure, digital ****** et education, stablecoin payments and real-world ****** et tokenization across the city's emerging fintech ecosystem. The agreement gives Solana Company a role in a project Kazakhstan officials are positioning as a regional hub for digital ****** ets, fintech and Web3-native commerce.
Alatau City is being built as a future-oriented urban center focused on sustainability, technology and green growth. The memorandum was signed during the Alatau City Roadshow in China, which included Hong Kong and Shenzhen and brought together government agencies, investment funds, financial institutions and technology companies. The estimated investment to develop the city is $6 billion.
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Next up: August 5th in Perth. AC Milan and Inter will face each other far from San Siro in a major occasion for Australia, but not an entirely new one for the rest of the world. Over the years, official and friendly Milano derbies played outside of Italy have taken place in four different countries: Switzerland, China, USA and Saudi Arabia. The first-ever derby played outside of Italy took place in Chiasso, Switzerland, on October 18th 1908, just a few months after Inter's founding. It was the final of the Coppa Chiasso, a friendly tournament, that ended in a 2-1 victory for AC Milan. The Derby di Milano between AC Milan and Inter has also made its way to New York. The only ever Milano derby played in the Big Apple took place on June 29th 1969. The two sides met in a friendly for the New York City Trophy at the Yankee Stadium and the game ended 3-2 to Inter.
Forty years later, another summer friendly derby was played as part of the World Football Challenge tournament. The match took place at Gillette Stadium, near Boston, and ended in a 2-0 win for Inter. On August 6th 2011 in Beijing, China, the two sides met in the first official derby ever played outside Italy. It was the Supercoppa Italiana Final, held at Beijing National Stadium, the famous "Bird’s Nest", and AC Milan emerged victorious with a 2-1 win. The teams returned to China on July 25th 2015, this time in Shenzhen for a summer friendly in the International Champions Cup. The match is best remembered for Philippe Mexès' spectacular volley, with AC Milan winning 1-0. The two most recent meetings abroad were both Supercoppa Italiana Finals in Riyadh, Saudi Arabia: Inter lifted the trophy in 2022, while AC Milan came out on top in 2025.
The new AC Milan 2026/27 Home Kit is available: buy it now!

By Yantoultra Ngui and Kane Wu
SINGAPORE/HONG KONG, June 16 (Reuters) - Chinese optical parts maker Zhongji Innolight is planning to launch a share listing in Hong Kong ‌as early as mid-July that could raise up to $7 billion, two sources with direct ‌knowledge of the matter said.
The Shenzhen-listed company, which makes optical modules used in AI data centres, initially aimed to raise about $5 billion, but the target has since risen to about $7 billion after strong investor interest during roadshows, one of the people said.
Zhongji Innolight hopes to receive clearance from Chinese regulators for the second listing by late June, one of the people said. Chinese companies need to complete ‌a listing filing with the China ⁠Securities Regulatory Commission before they can sell shares offshore.
The company has confidentially filed for the listing, both sources said.

When ****** Chuanfu, CEO of Chinese EV company BYD, told shareholders in Shenzhen this week that the company would become the world's largest automaker within five years, he pointed to growing production and sales overseas as one of the major paths to get there.
As BYD faces increasing pressure at home, this international expansion has become a vital part of the company's business model. At the forefront of this is ****** 's longtime partner, Stella Li, BYD's executive VP. Over her 30-year career at the Chinese EV and technology giant, Li has overseen the company's transformation from its origins as a maker of mobile phone batteries to the world's top seller of electric vehicles.
She's widely seen as the architect of the company's rapid international expansion. In an interview, Li told Fortune she spends roughly 70% of her time traveling, meeting government officials, hiring local executives, and personally shaping pricing and product strategy market by market. She also leads the company's road shows, touring countries to demonstrate BYD's newest offerings.
In April, when Li arrived at the Paris Opera House to showcase the European launch of BYD's newest luxury car—flanked by ballerinas and opera singers—it was clear why some colleagues had dubbed BYD's international road show "The Stella Show."
In the past few years, BYD has been on an impressive sales trajectory. In 2022, the company dropped pure internal-combustion models from its lineup, focusing solely on electric vehicles and plug-in hybrids. By 2024, global vehicle sales had reached 4.27 million units, ranking the company fourth among global car manufacturers. In 2025, BYD sold a record 4.6 million new-energy vehicles, making it the world's top-selling EV maker by pure-electric sales—stealing the crown from Elon Musk's Tesla.

BEIJING (Reuters) -‌China's ‌market regulator issued an anti-⁠unfair ‌competition compliance guidance for ‍smartphone makers and mobile application platform ‌firms in Shenzhen on Wednesday, Chinese ⁠state media reported on Thursday.
No firms ‍were ⁠named in the report.
⁠(Reporting ‌by Beijing ‌newsroom)

https://www.yahoo.com/news...

HONG KONG (AP) — An unmanned, oval-shaped craft from flying taxi maker EHang hovers, whirring noisily like a mini-helicopter over a riverside innovation zone on the outskirts of the southern Chinese business hub of Guangzhou, part of a trial of a mini-flying taxi that once might have been found only in sci-fi films.
In nearby Shenzhen, food-delivery drones already are part of daily life and a novelty attraction for tourists, even if such services cost more. In the waterfront park surrounded by high-rises, Polish tourist Karolina Trzciańska and her friends ordered bubble tea and lemon tea by p

Ponyai Partners with Xihu Group to Deploy 1000 Robotaxis in Shenzhen

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#MobilitySector #LargestTaxiOperator #RobotaxiServices #AIEmpoweredModel

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