Alibaba’s Qwen powers top 10 open-source models as China AI know-how goes beyond DeepSeek
By Ann Cao
Alibaba Group Holding’s Qwen artificial intelligence (AI) model is powering the world’s top 10 open-source large language models (LLMs), according to collaborative machine-learning platform and community Hugging Face.
The latest Open LLM Leaderboard by Hugging Face showed that all of the top-ranked models were trained and developed on the updated open-source versions of Qwen, part of the Tongyi Qianwen LLM family built by Alibaba’s cloud computing services and AI arm. Hangzhou-based Alibaba owns the South China Morning Post.
At least seven of the top 10 open-source LLMs were based on the Qwen2.5-72b series from Alibaba Cloud. The top-ranked LLM, calme-3.2-instruct-78b, described itself as “an advanced iteration of Qwen2.5-72b”, which was fine-tuned on custom data sets to enhance its capabilities in generic domains.
LLM is the technology underpinning generative AI (GenAI) services like ChatGPT. GenAI refers to the algorithms that can be used to create new content, including audio, code, images, text, simulations and videos.
Open source gives public access to a software program’s source code, allowing third-party developers to modify or share its design, fix broken links or scale up its capabilities. Open-source technologies have been a huge contributor to China’s flourishing tech industry over the past few decades.
Qwen’s sway on the development of LLMs in the latest Hugging Face open-source rankings reflects the increasing depth of China’s AI capabilities beyond DeepSeek’s recent breakthrough.
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By Ann Cao
Alibaba Group Holding’s Qwen artificial intelligence (AI) model is powering the world’s top 10 open-source large language models (LLMs), according to collaborative machine-learning platform and community Hugging Face.
The latest Open LLM Leaderboard by Hugging Face showed that all of the top-ranked models were trained and developed on the updated open-source versions of Qwen, part of the Tongyi Qianwen LLM family built by Alibaba’s cloud computing services and AI arm. Hangzhou-based Alibaba owns the South China Morning Post.
At least seven of the top 10 open-source LLMs were based on the Qwen2.5-72b series from Alibaba Cloud. The top-ranked LLM, calme-3.2-instruct-78b, described itself as “an advanced iteration of Qwen2.5-72b”, which was fine-tuned on custom data sets to enhance its capabilities in generic domains.
LLM is the technology underpinning generative AI (GenAI) services like ChatGPT. GenAI refers to the algorithms that can be used to create new content, including audio, code, images, text, simulations and videos.
Open source gives public access to a software program’s source code, allowing third-party developers to modify or share its design, fix broken links or scale up its capabilities. Open-source technologies have been a huge contributor to China’s flourishing tech industry over the past few decades.
Qwen’s sway on the development of LLMs in the latest Hugging Face open-source rankings reflects the increasing depth of China’s AI capabilities beyond DeepSeek’s recent breakthrough.
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Hong Kong’s NWD raises prices for State Pavilia flat sale amid ‘enthusiastic’ interest
By Cheryl Arcibal
New World Development (NWD) raised prices for a new batch of units in a sought-after residential project on Hong Kong Island, as prospective buyers outnumber the project’s supply of flats by more than 28 times.
The developer said the response to the 388-unit State Pavilia project on King’s Road in North Point has been “enthusiastic”, as more than 4,800 buyers had written cheques for a chance to buy one of 168 listed units as of Tuesday night.
The 39 units in the third price list, unveiled on Tuesday, are priced between HK$6.35 million (US$815,000) and HK$20.39 million after discounts, or HK$16,888 to HK$28,088 per square foot. The list comprises 15 one-bedroom units, 23 two-bedroom homes and a single three-bedroom unit, ranging from 321 sq ft to 726 sq ft.
“It is an increase from the previous price list,” NWD said. The cheapest flat in the latest batch is priced about 0.5 per cent higher than the HK$6.32 million price of the cheapest unit among the 55 homes on the development’s second price list, which was unveiled on Monday.
More than 2,850 prospective buyers wrote cheques for a chance to buy the 88 units that were put up for sale in the project’s first price list, which was released on Thursday.
The developer will launch the sale on Saturday. The project is the first phase of NWD’s redevelopment of the site of the former State Theatre.
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By Cheryl Arcibal
New World Development (NWD) raised prices for a new batch of units in a sought-after residential project on Hong Kong Island, as prospective buyers outnumber the project’s supply of flats by more than 28 times.
The developer said the response to the 388-unit State Pavilia project on King’s Road in North Point has been “enthusiastic”, as more than 4,800 buyers had written cheques for a chance to buy one of 168 listed units as of Tuesday night.
The 39 units in the third price list, unveiled on Tuesday, are priced between HK$6.35 million (US$815,000) and HK$20.39 million after discounts, or HK$16,888 to HK$28,088 per square foot. The list comprises 15 one-bedroom units, 23 two-bedroom homes and a single three-bedroom unit, ranging from 321 sq ft to 726 sq ft.
“It is an increase from the previous price list,” NWD said. The cheapest flat in the latest batch is priced about 0.5 per cent higher than the HK$6.32 million price of the cheapest unit among the 55 homes on the development’s second price list, which was unveiled on Monday.
More than 2,850 prospective buyers wrote cheques for a chance to buy the 88 units that were put up for sale in the project’s first price list, which was released on Thursday.
The developer will launch the sale on Saturday. The project is the first phase of NWD’s redevelopment of the site of the former State Theatre.
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Trump’s new Gilded Age a reminder of America’s painful past
By Zhang Chi (張馳)
US President Donald Trump concluded his inaugural address with the boast “our golden age has just begun”. However, as some observers have noted, he could be more likely to start a new Gilded Age if he keeps obsessing over late 19th-century US domestic and foreign policies.
Who better than Mark Twain, the creator of the term, to shed light on the future implied by this phrase? When there are shadows of inequality, oligarchy, imperialism and reckless competition hanging over us again, revisiting the classics can help foster vigilance and reflection.
Echoing Twain’s recurring themes, the current US economy displays signs of progress with technological advancements, yet daunting challenges persist. Inequality, inflation and a much-speculated stock market bubble have fuelled voter dissatisfaction, one of many reasons for their choice of Trump over Kamala Harris.
Notably, the income gap has made a U-turn since the 1970s and now reached late 19th-century levels. Despite Trump’s re-election disappointing many, his victory mirrors a desire for change among the middle and working class.
Meanwhile, despotism, economic disparity and corruption are on the rise. Five days after outgoing US president Joe Biden warned about these in his farewell speech, billionaires Elon Musk, Jeff Bezos and Mark Zuckerberg witnessed another billionaire’s swearing-in.
Moreover, speculators seem to have found a new promised land. Two days later, when asked about his newly launched cryptocurrency at the first press conference, Trump replied, “several billion – that’s peanuts for these guys”.
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By Zhang Chi (張馳)
US President Donald Trump concluded his inaugural address with the boast “our golden age has just begun”. However, as some observers have noted, he could be more likely to start a new Gilded Age if he keeps obsessing over late 19th-century US domestic and foreign policies.
Who better than Mark Twain, the creator of the term, to shed light on the future implied by this phrase? When there are shadows of inequality, oligarchy, imperialism and reckless competition hanging over us again, revisiting the classics can help foster vigilance and reflection.
Echoing Twain’s recurring themes, the current US economy displays signs of progress with technological advancements, yet daunting challenges persist. Inequality, inflation and a much-speculated stock market bubble have fuelled voter dissatisfaction, one of many reasons for their choice of Trump over Kamala Harris.
Notably, the income gap has made a U-turn since the 1970s and now reached late 19th-century levels. Despite Trump’s re-election disappointing many, his victory mirrors a desire for change among the middle and working class.
Meanwhile, despotism, economic disparity and corruption are on the rise. Five days after outgoing US president Joe Biden warned about these in his farewell speech, billionaires Elon Musk, Jeff Bezos and Mark Zuckerberg witnessed another billionaire’s swearing-in.
Moreover, speculators seem to have found a new promised land. Two days later, when asked about his newly launched cryptocurrency at the first press conference, Trump replied, “several billion – that’s peanuts for these guys”.
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US tariffs? China’s steel industry has far bigger problems than that
By Luna Sun
Chinese steelmakers are facing a major demand challenge – but it has little to do with the new 25 per cent tariffs announced by US President Donald Trump.
In reality, Washington’s latest trade move will barely affect China’s steel industry, as shipments to the US account for only a small fraction of its total exports, analysts said.
However, Chinese steel producers are becoming more dependent on exports to other markets due to sluggish domestic demand and persistent industry overcapacity.
On Monday, Trump announced a blanket 25 per cent tariff on all imports of steel and aluminium into the United States, with “no exceptions”.
The US gets most of its imported steel from Canada, Brazil, Mexico and South Korea. China, despite being the world’s largest steel producer and exporter, accounted for less than 2 per cent of US steel imports in 2024, according to the American Iron and Steel Institute.
The US tariffs will have little direct impact on China, though some second-order effects may occur, said Xu Tianchen, a senior China economist with the Economist Intelligence Unit.
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By Luna Sun
Chinese steelmakers are facing a major demand challenge – but it has little to do with the new 25 per cent tariffs announced by US President Donald Trump.
In reality, Washington’s latest trade move will barely affect China’s steel industry, as shipments to the US account for only a small fraction of its total exports, analysts said.
However, Chinese steel producers are becoming more dependent on exports to other markets due to sluggish domestic demand and persistent industry overcapacity.
On Monday, Trump announced a blanket 25 per cent tariff on all imports of steel and aluminium into the United States, with “no exceptions”.
The US gets most of its imported steel from Canada, Brazil, Mexico and South Korea. China, despite being the world’s largest steel producer and exporter, accounted for less than 2 per cent of US steel imports in 2024, according to the American Iron and Steel Institute.
The US tariffs will have little direct impact on China, though some second-order effects may occur, said Xu Tianchen, a senior China economist with the Economist Intelligence Unit.
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Australian man who tried to dissolve teenage wife’s body in acid bath jailed
By SCMP’s Asia desk
A 23-year-old Australian man has been sentenced by a court in Sydney to more than two decades behind bars for murdering his pregnant teenage wife and attempting to dissolve her body in acid.
Meraj Zafar received 21½ years’ imprisonment after admitting to killing Arnima Hayat in January 2022 and submerging the corpse in hydrochloric acid in his home bathtub.
He was sentenced through a video link hearing at the Supreme Court last December, the Australian Broadcasting Corporation (ABC) reported in the same month, adding that the 19-year-old victim was identified through DNA testing months after the murder in the couple’s home in the North Parramatta suburb, northeast of Sydney.
Zafar previously had a restraining order issued against him after he threatened Hayat’s father, Abu Hayat, in a phone conversation in 2021, according to a report by The Mirror. The older man was hesitant when Zafar asked him for his blessing to marry his daughter, the report said.
According to the Sydney Morning Herald, Zafar killed Hayat out of fear she would leave him. ABC cited the judge as saying Zafar murdered his wife by “obstructing her breathing or smothering her”.
The Sydney Morning Herald report also stated Zafar – who pleaded guilty last May – was caught on surveillance footage buying “five 20-litre tubs of acid over two trips”.
He then googled, “can hydrochloric acid burn through skin”, along with the length of a prison sentence for murder.
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By SCMP’s Asia desk
A 23-year-old Australian man has been sentenced by a court in Sydney to more than two decades behind bars for murdering his pregnant teenage wife and attempting to dissolve her body in acid.
Meraj Zafar received 21½ years’ imprisonment after admitting to killing Arnima Hayat in January 2022 and submerging the corpse in hydrochloric acid in his home bathtub.
He was sentenced through a video link hearing at the Supreme Court last December, the Australian Broadcasting Corporation (ABC) reported in the same month, adding that the 19-year-old victim was identified through DNA testing months after the murder in the couple’s home in the North Parramatta suburb, northeast of Sydney.
Zafar previously had a restraining order issued against him after he threatened Hayat’s father, Abu Hayat, in a phone conversation in 2021, according to a report by The Mirror. The older man was hesitant when Zafar asked him for his blessing to marry his daughter, the report said.
According to the Sydney Morning Herald, Zafar killed Hayat out of fear she would leave him. ABC cited the judge as saying Zafar murdered his wife by “obstructing her breathing or smothering her”.
The Sydney Morning Herald report also stated Zafar – who pleaded guilty last May – was caught on surveillance footage buying “five 20-litre tubs of acid over two trips”.
He then googled, “can hydrochloric acid burn through skin”, along with the length of a prison sentence for murder.
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Risks or opportunities? China, Ukraine brace for Trump agenda at top security summit
By Amber Wang
American efforts to hamstring China were likely to intensify under US President Donald Trump as G7 countries also expected greater risks, according to a pre-summit report released this week, days ahead of the annual Munich Security Conference.
The leading international security summit, which will begin on Friday in Germany, will come at a pivotal moment – just weeks after Trump began his second presidential term.
The event will serve as a stage for Trump administration officials to deliver their foreign policy outlook, including a path toward ending the war in Ukraine, as well as offering the first face-to-face engagement between the new US administration and its European allies, as well as China.
According to a global risk index included in the report released on Monday by summit organisers, the US was seen as China’s top security concern, followed by the use of biological weapons and nuclear weapons. Last year, the US was ranked China’s third biggest security concern, behind cyberattacks and climate change.
However, the report added that Beijing could also benefit from Washington’s retrenchment from international commitments.
The US, on the other hand, viewed China as its seventh biggest threat, the report said, as Washington saw cyberattacks as its biggest security concern, followed by Russia.
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By Amber Wang
American efforts to hamstring China were likely to intensify under US President Donald Trump as G7 countries also expected greater risks, according to a pre-summit report released this week, days ahead of the annual Munich Security Conference.
The leading international security summit, which will begin on Friday in Germany, will come at a pivotal moment – just weeks after Trump began his second presidential term.
The event will serve as a stage for Trump administration officials to deliver their foreign policy outlook, including a path toward ending the war in Ukraine, as well as offering the first face-to-face engagement between the new US administration and its European allies, as well as China.
According to a global risk index included in the report released on Monday by summit organisers, the US was seen as China’s top security concern, followed by the use of biological weapons and nuclear weapons. Last year, the US was ranked China’s third biggest security concern, behind cyberattacks and climate change.
However, the report added that Beijing could also benefit from Washington’s retrenchment from international commitments.
The US, on the other hand, viewed China as its seventh biggest threat, the report said, as Washington saw cyberattacks as its biggest security concern, followed by Russia.
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TikTok says ‘blackout challenge’ data of 4 dead British children may have been deleted
By dpa
Data from the TikTok accounts of four British children who their parents believe died after attempting a challenge on the platform may have been deleted, an executive from the firm has said.
The families of the children, all aged 12 to 14 – have sued TikTok and its parent firm ByteDance in the United States in an effort to force the firm to release their children’s data.
The wrongful death lawsuit claims the four died attempting a so-called “blackout challenge”, and said they want access to their children’s account data to “get answers” about how they died.
But Giles Dennington, senior government relations manager at TikTok, told BBC Radio 5 Live “there are some things we simply don’t have”.
After the lawsuit against TikTok was filed last week, Ellen Roome, mother of a 14-year-old who died, told the PA news agency that she had been trying to obtain her son’s data from TikTok as she “just wants answers” about his death and the data was “the only piece that we haven’t looked at”.
Roome said she had been “shocked” to learn that she “wasn’t entitled” to her son’s data, and was told by TikTok that a court order was required to release it.
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By dpa
Data from the TikTok accounts of four British children who their parents believe died after attempting a challenge on the platform may have been deleted, an executive from the firm has said.
The families of the children, all aged 12 to 14 – have sued TikTok and its parent firm ByteDance in the United States in an effort to force the firm to release their children’s data.
The wrongful death lawsuit claims the four died attempting a so-called “blackout challenge”, and said they want access to their children’s account data to “get answers” about how they died.
But Giles Dennington, senior government relations manager at TikTok, told BBC Radio 5 Live “there are some things we simply don’t have”.
After the lawsuit against TikTok was filed last week, Ellen Roome, mother of a 14-year-old who died, told the PA news agency that she had been trying to obtain her son’s data from TikTok as she “just wants answers” about his death and the data was “the only piece that we haven’t looked at”.
Roome said she had been “shocked” to learn that she “wasn’t entitled” to her son’s data, and was told by TikTok that a court order was required to release it.
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China’s DeepSeek shows US chip controls have failed as AI race ramps up: HKU scholars
By Enoch Wong
Geopolitical experts said the rapid rise of Chinese start-up DeepSeek could challenge American supremacy in artificial general intelligence (AGI) and proved the ineffectiveness of US export controls on semiconductors.
They made the comments on Friday at an event co-hosted by the University of Hong Kong’s AI and Humanity Lab and the Hong Kong Ethics Lab to discuss the geopolitical implications of DeepSeek.
Silicon Valley tech companies have advocated stricter chip restrictions on China, arguing that US dominance in the semiconductor sector would secure its long-term supremacy in AGI – a type of artificial intelligence scientists believe could be achieved in the next few years that would possess cognitive abilities similar to those of humans.
This AI would be able to learn, reason, solve problems and adapt to new situations across a wide range of tasks.
Herman Cappelen, chair professor of philosophy at the University of Hong Kong, said that AGI dominance would translate directly to global power.
“You will have super military power with AGI [and] be the leading power in the world for the foreseeable future because of the supremacy,” Cappelen said.
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By Enoch Wong
Geopolitical experts said the rapid rise of Chinese start-up DeepSeek could challenge American supremacy in artificial general intelligence (AGI) and proved the ineffectiveness of US export controls on semiconductors.
They made the comments on Friday at an event co-hosted by the University of Hong Kong’s AI and Humanity Lab and the Hong Kong Ethics Lab to discuss the geopolitical implications of DeepSeek.
Silicon Valley tech companies have advocated stricter chip restrictions on China, arguing that US dominance in the semiconductor sector would secure its long-term supremacy in AGI – a type of artificial intelligence scientists believe could be achieved in the next few years that would possess cognitive abilities similar to those of humans.
This AI would be able to learn, reason, solve problems and adapt to new situations across a wide range of tasks.
Herman Cappelen, chair professor of philosophy at the University of Hong Kong, said that AGI dominance would translate directly to global power.
“You will have super military power with AGI [and] be the leading power in the world for the foreseeable future because of the supremacy,” Cappelen said.
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Hong Kong doctor dies, 2 others treated in suspected E coli cluster
By Danny MokElizabeth Cheung
One of three Hong Kong doctors showing symptoms of a highly toxic strain of E coli has died, as authorities investigate the possible cause of the cases inside the same department of a public hospital.
Experts investigating the cases at Princess Margaret Hospital’s oncology department in Kwai Chung said on Tuesday that they believed the doctors could have been infected after eating contaminated food, but there was no evidence they had shared meals or visited the same catering areas.
“A food source is not a small possibility,” said Professor Yuen Kwok-yung, chair of infectious diseases at the University of Hong Kong’s department of microbiology, who was involved in the investigation.
He said contaminated water was unlikely to be the source of the infections as the level of chlorine in the city’s water was high enough to act as a disinfectant.
Yuen said investigators had yet to determine whether the Shiga toxin-producing E coli, a highly toxic strain of the bacteria, led to the death of the doctor, who had a good health record.
The strain was found in a stool sample from one of the infected oncologists who had milder symptoms.
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By Danny MokElizabeth Cheung
One of three Hong Kong doctors showing symptoms of a highly toxic strain of E coli has died, as authorities investigate the possible cause of the cases inside the same department of a public hospital.
Experts investigating the cases at Princess Margaret Hospital’s oncology department in Kwai Chung said on Tuesday that they believed the doctors could have been infected after eating contaminated food, but there was no evidence they had shared meals or visited the same catering areas.
“A food source is not a small possibility,” said Professor Yuen Kwok-yung, chair of infectious diseases at the University of Hong Kong’s department of microbiology, who was involved in the investigation.
He said contaminated water was unlikely to be the source of the infections as the level of chlorine in the city’s water was high enough to act as a disinfectant.
Yuen said investigators had yet to determine whether the Shiga toxin-producing E coli, a highly toxic strain of the bacteria, led to the death of the doctor, who had a good health record.
The strain was found in a stool sample from one of the infected oncologists who had milder symptoms.
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Outrage in India over ‘inhumane’ US deportation of undocumented migrants
By Biman Mukherji
The alleged mistreatment of undocumented Indian migrants deported from the United States has sparked outrage in India ahead of a meeting between Prime Minister Narendra Modi and President Donald Trump in Washington this week.
Last Wednesday, a US military aircraft carrying these 104 Indian nationals, who were deported as part of Trump’s widening immigration raids, landed in the northern Indian city of Amritsar.
Images of them arriving handcuffed with their legs shackled on board the plane during their long flight from the US have angered many social media users.
Opposition politicians in India have protested against what they perceived to be Washington’s ill-treatment of their compatriots. Congress party leader K.C. Venugopal K.C. Venugopal staged a protest wearing handcuffs in parliament last week.
Pawan Khera, a spokesman for Congress, said on social media platform X last Wednesday: “Looking at the pictures of Indians getting handcuffed and humiliated while being deported from the US saddens me as an Indian.”
Prithviraj Sathe, an X user, bemoaned how the Indians were deported “from the US in the most inhumane way – handcuffed, leg-chained, treated like criminals. One toilet for a long-haul flight”.
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By Biman Mukherji
The alleged mistreatment of undocumented Indian migrants deported from the United States has sparked outrage in India ahead of a meeting between Prime Minister Narendra Modi and President Donald Trump in Washington this week.
Last Wednesday, a US military aircraft carrying these 104 Indian nationals, who were deported as part of Trump’s widening immigration raids, landed in the northern Indian city of Amritsar.
Images of them arriving handcuffed with their legs shackled on board the plane during their long flight from the US have angered many social media users.
Opposition politicians in India have protested against what they perceived to be Washington’s ill-treatment of their compatriots. Congress party leader K.C. Venugopal K.C. Venugopal staged a protest wearing handcuffs in parliament last week.
Pawan Khera, a spokesman for Congress, said on social media platform X last Wednesday: “Looking at the pictures of Indians getting handcuffed and humiliated while being deported from the US saddens me as an Indian.”
Prithviraj Sathe, an X user, bemoaned how the Indians were deported “from the US in the most inhumane way – handcuffed, leg-chained, treated like criminals. One toilet for a long-haul flight”.
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YouTube, the world’s largest online video service, turns 20
By Agence France-Presse
YouTube has evolved from a dinner party lark 20 years ago into a modern lifestyle staple poised to overtake US cable television in paid viewership.
PayPal colleagues Steve Chen, Chad Hurley and Jawed Karim conceived YouTube in 2005, reportedly during a dinner party. The domain YouTube.com launched on Valentine’s Day that year.
Video uploading capabilities were added on April 23, when Karim posted the first video, titled “Me at the Zoo”. The 19-second clip showing Karim at the San Diego Zoo’s elephant exhibit has garnered 348 million views.
Over the next 20 years, the site has expanded beyond what was imagined possible back in 2005.
“YouTube was started by tech bros who wanted a video hosting service to watch reruns of Janet Jackson’s ‘wardrobe malfunction’ during the Super Bowl,” said eMarketer analyst Ross Benes.
“Now, it’s the world’s largest digital video service in terms of time spent and ad revenue – it’s an utter behemoth.”
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By Agence France-Presse
YouTube has evolved from a dinner party lark 20 years ago into a modern lifestyle staple poised to overtake US cable television in paid viewership.
PayPal colleagues Steve Chen, Chad Hurley and Jawed Karim conceived YouTube in 2005, reportedly during a dinner party. The domain YouTube.com launched on Valentine’s Day that year.
Video uploading capabilities were added on April 23, when Karim posted the first video, titled “Me at the Zoo”. The 19-second clip showing Karim at the San Diego Zoo’s elephant exhibit has garnered 348 million views.
Over the next 20 years, the site has expanded beyond what was imagined possible back in 2005.
“YouTube was started by tech bros who wanted a video hosting service to watch reruns of Janet Jackson’s ‘wardrobe malfunction’ during the Super Bowl,” said eMarketer analyst Ross Benes.
“Now, it’s the world’s largest digital video service in terms of time spent and ad revenue – it’s an utter behemoth.”
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Neuralink rival StairMed secures largest funding among Chinese brain-computer interface firms
By Coco Feng
Shanghai-based brain-computer interface (BCI) company StairMed, which claims to outperform Elon Musk’s Neuralink in certain areas, has raised 350 million yuan (US$48 million) in the largest-ever funding round for a Chinese start-up in the field.
The company, which develops implantable BCI devices and surgical robots, said that its “recently” completed funding round was led by China’s Qiming Venture Partners, healthcare-focused OrbiMed, and Lilly Asia Ventures, a spin-off of American pharmaceutical giant Eli Lilly.
StairMed called it the largest fundraising round for a Chinese implantable BCI company, according to a post on Monday on its official WeChat account. It added that the capital would be used to accelerate clinical trials, for research and development and to build a new production facility. StairMed’s last round was in 2023, when it raised “hundreds of millions of yuan”.
Lilly Asia Ventures praised StairMed as a “global leader” in “flexible electrode technology and full-stack BCI system development capabilities”.
The start-up said that its ultra-flexible neural electrodes, used in BCI devices for data acquisition, take up just one-hundredth the size of a hairline, or a fifth the size of Neuralink’s electrodes. The product is also “hundreds of times softer” than Neuralink’s alternative, “making it difficult for brain tissue to ‘feel’ the electrode’s ‘intrusion’”, it said.
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By Coco Feng
Shanghai-based brain-computer interface (BCI) company StairMed, which claims to outperform Elon Musk’s Neuralink in certain areas, has raised 350 million yuan (US$48 million) in the largest-ever funding round for a Chinese start-up in the field.
The company, which develops implantable BCI devices and surgical robots, said that its “recently” completed funding round was led by China’s Qiming Venture Partners, healthcare-focused OrbiMed, and Lilly Asia Ventures, a spin-off of American pharmaceutical giant Eli Lilly.
StairMed called it the largest fundraising round for a Chinese implantable BCI company, according to a post on Monday on its official WeChat account. It added that the capital would be used to accelerate clinical trials, for research and development and to build a new production facility. StairMed’s last round was in 2023, when it raised “hundreds of millions of yuan”.
Lilly Asia Ventures praised StairMed as a “global leader” in “flexible electrode technology and full-stack BCI system development capabilities”.
The start-up said that its ultra-flexible neural electrodes, used in BCI devices for data acquisition, take up just one-hundredth the size of a hairline, or a fifth the size of Neuralink’s electrodes. The product is also “hundreds of times softer” than Neuralink’s alternative, “making it difficult for brain tissue to ‘feel’ the electrode’s ‘intrusion’”, it said.
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Moscow latches onto Trump’s Ukraine ‘may be Russian someday’ idea
By Agence France-Presse
The Kremlin said on Tuesday that a “significant part” of Ukraine “wants to be Russia,” hours after US President Donald Trump floated the idea that Ukraine “may be Russian someday”.
Addressing the three-year conflict between Moscow and Kyiv in a Fox News interview that aired on Monday, Trump said: “[Ukraine] may make a deal, they may not make a deal. They may be Russian someday, or they may not be Russian someday.”
Kremlin spokesman Dmitry Peskov said on Tuesday that the situation in Ukraine “largely corresponds to President Trump’s words”.
“The fact that a significant part of Ukraine wants to become Russia, and has already, is a fact,” he told reporters, referring to Moscow’s 2022 annexation of four Ukrainian regions.
“Any phenomenon can happen with a 50 per cent probability – either yes or no,” Peskov added.
Trump has made ending the fighting one of his priorities for his first months in the White House.
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By Agence France-Presse
The Kremlin said on Tuesday that a “significant part” of Ukraine “wants to be Russia,” hours after US President Donald Trump floated the idea that Ukraine “may be Russian someday”.
Addressing the three-year conflict between Moscow and Kyiv in a Fox News interview that aired on Monday, Trump said: “[Ukraine] may make a deal, they may not make a deal. They may be Russian someday, or they may not be Russian someday.”
Kremlin spokesman Dmitry Peskov said on Tuesday that the situation in Ukraine “largely corresponds to President Trump’s words”.
“The fact that a significant part of Ukraine wants to become Russia, and has already, is a fact,” he told reporters, referring to Moscow’s 2022 annexation of four Ukrainian regions.
“Any phenomenon can happen with a 50 per cent probability – either yes or no,” Peskov added.
Trump has made ending the fighting one of his priorities for his first months in the White House.
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Hong Kong tram passengers face fare increases of up to 15.4% under proposal
By Jeffie Lam
The operator of Hong Kong’s trams has proposed raising adult fares by 10 per cent – or 30 HK cents – to HK$3.30, saying passenger volume has yet to return to pre-pandemic levels.
Under a proposal submitted to transport authorities by Hong Kong Tramways on Tuesday, adult fares will be increased from the current HK$3.
Concessionary fares for children aged between three years and 12 will rise from HK$1.50 to HK$1.60, an increase of 6.7 per cent, and for elderly residents above 65 years from HK$1.30 to HK$1.50, up 15.4 per cent.
The price of monthly tickets will remain unchanged at HK$260.
The French-owned company said the proposed increases were to ensure the long-term operation and development of the city’s famed trams, which run on Hong Kong Island between Kennedy Town and Shau Kei Wan, with a branch to Happy Valley.
“Farebox revenue remains a critical income stream alongside commercial partnerships, despite ridership lingering over 15 per cent below pre-pandemic 2018 levels,” Hong Kong Tramways said.
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By Jeffie Lam
The operator of Hong Kong’s trams has proposed raising adult fares by 10 per cent – or 30 HK cents – to HK$3.30, saying passenger volume has yet to return to pre-pandemic levels.
Under a proposal submitted to transport authorities by Hong Kong Tramways on Tuesday, adult fares will be increased from the current HK$3.
Concessionary fares for children aged between three years and 12 will rise from HK$1.50 to HK$1.60, an increase of 6.7 per cent, and for elderly residents above 65 years from HK$1.30 to HK$1.50, up 15.4 per cent.
The price of monthly tickets will remain unchanged at HK$260.
The French-owned company said the proposed increases were to ensure the long-term operation and development of the city’s famed trams, which run on Hong Kong Island between Kennedy Town and Shau Kei Wan, with a branch to Happy Valley.
“Farebox revenue remains a critical income stream alongside commercial partnerships, despite ridership lingering over 15 per cent below pre-pandemic 2018 levels,” Hong Kong Tramways said.
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China goes all-out to keep foreign investors onshore amid Trump threats
By Mia Nulimaimaiti
China has approved a new action plan to stabilise foreign investment in 2025 as it aims to win over global executives concerned about being caught in the crossfire of an intensifying Sino-US trade war.
At an executive meeting of the State Council chaired by Premier Li Qiang on Monday, China’s leaders pledged to create new incentives for foreign companies and equity investors.
“We need to enhance support for foreign firms to reinvest in China, encourage overseas capital to undertake equity investment in China, and streamline regulations and procedures for cross-border mergers and acquisitions,” state news agency Xinhua reported, citing a statement from the council.
The Chinese cabinet said it would fully remove restrictions on foreign investment in manufacturing and expand the number of industries that encourage foreign investment.
It also vowed to ensure domestic and foreign-funded firms received equal treatment during government procurement, broaden financing channels for foreign businesses, and strengthen their intellectual property protections.
In addition, the government would simplify procedures for foreign personnel to travel, live and work in China, according to the State Council.
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By Mia Nulimaimaiti
China has approved a new action plan to stabilise foreign investment in 2025 as it aims to win over global executives concerned about being caught in the crossfire of an intensifying Sino-US trade war.
At an executive meeting of the State Council chaired by Premier Li Qiang on Monday, China’s leaders pledged to create new incentives for foreign companies and equity investors.
“We need to enhance support for foreign firms to reinvest in China, encourage overseas capital to undertake equity investment in China, and streamline regulations and procedures for cross-border mergers and acquisitions,” state news agency Xinhua reported, citing a statement from the council.
The Chinese cabinet said it would fully remove restrictions on foreign investment in manufacturing and expand the number of industries that encourage foreign investment.
It also vowed to ensure domestic and foreign-funded firms received equal treatment during government procurement, broaden financing channels for foreign businesses, and strengthen their intellectual property protections.
In addition, the government would simplify procedures for foreign personnel to travel, live and work in China, according to the State Council.
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Malaysia data centres warned to find new water sources to ease pressure on public supply
By Joseph Sipalan
Resource-hungry data centres must tap alternative water sources to ease pressure on the public water supply, Malaysia’s water regulator has warned, as the Southeast Asian nation lures firms seeking cheaper land outside neighbouring Singapore to set up operations.
Malaysia wants to become Asia’s data centre hub, offering land incentives and resources to feed the energy-intensive facilities.
Data centres store the vast amounts of information needed to power everything from e-commerce and cloud computing to AI and are a crucial piece of digital infrastructure.
But Malaysia’s data centre push has put a strain on resources with demand for water exceeding capacity, according to the National Water Services Commission.
The commission said it had approved less than 18 per cent of water applications for the 101 data centres operating across Selangor, Negeri Sembilan and Johor in the peninsula’s south over risks of using treated water supply meant for the public.
“This is a result of insufficient supply of water to facilitate these data centres. Hence, alternative resources must be considered,” commission chairman Charles Santiago told a news conference on Monday.
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By Joseph Sipalan
Resource-hungry data centres must tap alternative water sources to ease pressure on the public water supply, Malaysia’s water regulator has warned, as the Southeast Asian nation lures firms seeking cheaper land outside neighbouring Singapore to set up operations.
Malaysia wants to become Asia’s data centre hub, offering land incentives and resources to feed the energy-intensive facilities.
Data centres store the vast amounts of information needed to power everything from e-commerce and cloud computing to AI and are a crucial piece of digital infrastructure.
But Malaysia’s data centre push has put a strain on resources with demand for water exceeding capacity, according to the National Water Services Commission.
The commission said it had approved less than 18 per cent of water applications for the 101 data centres operating across Selangor, Negeri Sembilan and Johor in the peninsula’s south over risks of using treated water supply meant for the public.
“This is a result of insufficient supply of water to facilitate these data centres. Hence, alternative resources must be considered,” commission chairman Charles Santiago told a news conference on Monday.
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Indonesia launches free health-screening programme to all citizens as ‘birthday presents’
By Caroline Qiqige Wang
Thousands of Indonesians received a free health check-up on January 10, 2025, as part of an annual screening programme launched by the government to improve preventive care and uphold a key election promise made by President Prabowo Subianto.
The health ministry said the programme will aim to serve 60 million Indonesians this year and reach the nation’s entire estimated population of 280 million by 2030.
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By Caroline Qiqige Wang
Thousands of Indonesians received a free health check-up on January 10, 2025, as part of an annual screening programme launched by the government to improve preventive care and uphold a key election promise made by President Prabowo Subianto.
The health ministry said the programme will aim to serve 60 million Indonesians this year and reach the nation’s entire estimated population of 280 million by 2030.
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Vendor denies ticket sale glitch for NJZ’s show at ComplexCon Hong Kong
By Wynna Wong
Ticket vendor Cityline has denied any system irregularities involving online sales for the highly anticipated performance of K-pop girl group NJZ, formerly NewJeans, at ComplexCon Hong Kong next month, after fans complained that a glitch had changed the dates on their passes.
The company issued a statement on its website on Tuesday, saying it had received a number of inquiries from customers about tickets for the pop culture festival.
NJZ is expected to perform on the last day of ComplexCon. The event will be held in Hong Kong from March 21 to 23.
“We have reviewed the transaction records with system logs accordingly and confirm no [irregularities were] found,” Cityline said.
The company added that customers with similar inquiries should send a copy of their transaction details and confirmation email to [email protected].
A day earlier, dozens of fans took to social media soon after a priority sale for select ComplexCon tickets began at 4pm and said that attempts to buy tickets for March 23 saw the date suddenly changed to one of the other two days.
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By Wynna Wong
Ticket vendor Cityline has denied any system irregularities involving online sales for the highly anticipated performance of K-pop girl group NJZ, formerly NewJeans, at ComplexCon Hong Kong next month, after fans complained that a glitch had changed the dates on their passes.
The company issued a statement on its website on Tuesday, saying it had received a number of inquiries from customers about tickets for the pop culture festival.
NJZ is expected to perform on the last day of ComplexCon. The event will be held in Hong Kong from March 21 to 23.
“We have reviewed the transaction records with system logs accordingly and confirm no [irregularities were] found,” Cityline said.
The company added that customers with similar inquiries should send a copy of their transaction details and confirmation email to [email protected].
A day earlier, dozens of fans took to social media soon after a priority sale for select ComplexCon tickets began at 4pm and said that attempts to buy tickets for March 23 saw the date suddenly changed to one of the other two days.
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Hong Kong urged to spend cautiously, maintain tax incentives ahead of budget
By Connor Mycroft
Hong Kong’s finance chief should “cautiously manage” expenditures to ensure economic development rather than eliminate tax incentives that stimulate investment, a prominent business group has said.
The Hong Kong General Chamber of Commerce on Tuesday also called for the creation of a digital services duty to create a level playing field for local businesses while also raising tax revenues, as part of a raft of proposals for the coming budget.
Financial Secretary Paul Chan Mo-po on February 26 will deliver his budget speech for the 2025-26 financial year in which he is expected to announce cost-cutting measures to tackle the city’s projected deficit of nearly HK$100 billion (US$12.8 billion).
The finance chief has previously said that while the city aimed to maintain its competitive advantage of a simple and low tax system, the government will focus on cost-cutting rather than seeking new sources of income.
Chamber chairwoman Agnes Chan Sui-kuen said that government policy had shifted to a period of “fiscal consolidation” after years of using expansionary expenditures to boost the city’s post-pandemic economic recovery.
But Chan added it was important that the government “cautiously manage” expenditure controls to avoid impeding the city’s economic development.
“We need to continue some of these incentives,” Chan said. “Some of these incentives are still important to allow for economic development and to bring in more businesses.”
via SCMP Full Text Feed
By Connor Mycroft
Hong Kong’s finance chief should “cautiously manage” expenditures to ensure economic development rather than eliminate tax incentives that stimulate investment, a prominent business group has said.
The Hong Kong General Chamber of Commerce on Tuesday also called for the creation of a digital services duty to create a level playing field for local businesses while also raising tax revenues, as part of a raft of proposals for the coming budget.
Financial Secretary Paul Chan Mo-po on February 26 will deliver his budget speech for the 2025-26 financial year in which he is expected to announce cost-cutting measures to tackle the city’s projected deficit of nearly HK$100 billion (US$12.8 billion).
The finance chief has previously said that while the city aimed to maintain its competitive advantage of a simple and low tax system, the government will focus on cost-cutting rather than seeking new sources of income.
Chamber chairwoman Agnes Chan Sui-kuen said that government policy had shifted to a period of “fiscal consolidation” after years of using expansionary expenditures to boost the city’s post-pandemic economic recovery.
But Chan added it was important that the government “cautiously manage” expenditure controls to avoid impeding the city’s economic development.
“We need to continue some of these incentives,” Chan said. “Some of these incentives are still important to allow for economic development and to bring in more businesses.”
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