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1. China ‘996’ work culture dates back 2,200 years, shows work-life balance struggles through the ages

   In modern China, the so-called 996 work culture, working six days a week from 9am to 9pm, has become a major point of contention. While some advocate for the gruelling schedule as a fast track to success, others decry it as “modern slavery”, pointing to cases where excessive work hours have led to severe health problems or even death. The debate was first ignited in 2019, when an anonymous...

2. Hong Kong tipped to be world’s top financial centre amid global yuan expansion plan

   Hong Kong could emerge as the world’s leading financial centre as the central government pushes to internationalise the yuan – a move that will advance the nation’s development under the 15th five-year plan while also driving the city’s own growth, a National People’s Congress (NPC) deputy has said. Li Yinquan said the city stood to benefit from increased capital as the yuan became more...

3. Singapore property clan puts rare Hong Kong estate up for US$38.4 million tender

   A Singapore-rooted property family has put a rare residential estate in Hong Kong’s Southern district up for tender at about HK$300 million (US$38.4 million), testing demand for trophy homes as the city’s luxury housing market shows early signs of recovery despite soft prices. The tender for Belvedere, a low-density compound in Chung Hom Kok, would close at noon on April 28, according to...

4. South Korea enacts historic fuel price cap to fight Iran oil shock

   For the first time in over three decades, South Korea is doing something it hoped it would never do again: telling the market what it can charge for fuel. President Lee Jae Myung’s order is more than a mere policy reversal, however. For a country that imports nearly every barrel it consumes, it is an act of pre-emptive self-defence – the reflex of an economy watching the Middle East burn and...

5. China’s financial superpower ambitions get legal backing at ‘two sessions’

   China will develop a new financial law and a dedicated financial stability law this year, as Beijing works to defuse risks and prevent new ones as part of its ambition to become a financial superpower. In its work report delivered on Monday, the National People’s Congress Standing Committee, the country’s top legislative body, said it would also amend existing laws, including the People’s Bank...

6. TikTok gets green light to stay in Canada, reversing earlier ban

   Canada will allow TikTok to continue operating in the country, a complete reversal after the government had previously ordered the social media company to close its Canadian division for security reasons. In November 2024, under former prime minister Justin Trudeau, Canada ordered ByteDance, TikTok’s Chinese owner, to wind down its Canadian subsidiary. That would not have banned the app’s use...

7. China investors energise Hong Kong biotech stocks. Is foreign money missing out?

   Mainland Chinese investors can now buy shares in more than a dozen newly added Hong Kong-listed biotech and pharmaceutical companies after a reshuffle of the Stock Connect southbound trading list took effect on Monday, reflecting the sector’s growing role on the international stage. Foreign capital, however, remained cautious, analysts said. “Mainland buyers have been the main force behind the...

8. China’s chip bosses endorse semiconductor push in next 5-year plan

   China’s semiconductor entrepreneurs – including artificial intelligence chipmaker Cambricon Technologies and testing-and-packaging leader Tongfu Microelectronics – have voiced support for the country’s 15th five-year plan, which places renewed emphasis on the chip industry as a cornerstone of Beijing’s technology ambitions. “National policy direction and planning are very well designed,” said...

9. Hong Kong Legco to explore mainland-style oversight system for bills enforcement

   Hong Kong’s legislature will consider establishing a dedicated mechanism to scrutinise the implementation of approved bills and funding, drawing inspiration from mainland China’s law enforcement inspection system, according to its president. Legislative Council president Starry Lee Wai-king also dismissed concerns that the city’s first five-year plan would undermine the “one country, two...

10. US to counter China’s critical minerals dominance with ‘game-changing’ innovations

    Potential US innovation in recycling electronic waste, combined with refining and processing, will allow the US to leapfrog China in critical minerals, an official at the Department of Energy said on Monday amid Washington’s aggressive attempts to counter China’s dominance in the industry. Recycling metals, materials and magnets within the US is one of the fastest ways the country can impact the...