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The Ritz-Carlton Can Gio is located at a prime riverside site in the heart of the Vinhomes Green Paradise coastal mega-urban area and is expected to open in Q4 2027.

The hotel will feature 9 floors and approximately 250 keys, with room sizes ranging from 50 to 500 sqm, including suites and pool villas. Facilities include six restaurants and bars, two swimming pools, a spa integrating hydrotherapy and thermal wellness, meditation spaces, a fitness center, beauty salon, and the Ritz Kids club. The event space will comprise three function rooms totaling approximately 540 sqm, catering to a wide range of meetings and events.

Can Gio Marriott Hotel, located adjacent to the opera house and near the golf course and sports complex within the coastal mega-urban area, is also scheduled to open in Q4 2027.

The hotel will rise 25 floors and offer approximately 450 rooms ranging from 40 to 160 sqm, including premium suites. Amenities include an M Club Lounge, a system of restaurants and bars, a swimming pool, Quan Spa, and a sports club. Additionally, the hotel will provide approximately 1,570 sqm of meeting and event space, including two ballrooms, catering to large-scale events.

Together, The Ritz-Carlton and Marriott Hotel will deliver approximately 700 rooms, featuring a diverse range of accommodations, from standard rooms and suites to villas, supported by a comprehensive ecosystem of premium amenities and world-class five-star infrastructure.

The development and operational collaboration will be managed by Vinpearl, a member of Vingroup. With extensive experience in luxury hospitality, Vinpearl will oversee and directly implement operations to ensure the effective performance of these international hotel brands, contributing to the positioning of luxury service standards commensurate with a global “urban wonder” such as Vinhomes Green Paradise Can Gio.

Mr. Gautam Bhandari, Chief Development Officer for Asia Pacific (excluding China) at Marriott International, stated:“Marriott International’s long-standing partnership with Vingroup has helped shape Vietnam’s hospitality market over the years. We currently operate 11 hotels with Vinpearl, a member of Vingroup, and have several projects under development. With Vingroup’s visionary approach, commitment to excellence, and strong core values, we are confident that this project will not only deliver high-quality accommodations but also elevate the destination and create sustainable value for the local economy.”

Ms. Ngo Thi Huong, Chief Executive Officer of Vinpearl Joint Stock Company, added:“Our collaboration with Marriott International to bring The Ritz-Carlton, Can Gio and Can Gio Marriott Hotel represents a strategic step toward introducing global luxury service standards to Vinhomes Green Paradise Can Gio. Beyond developing internationally branded hotels, we aim to build a fully integrated service ecosystem, enhancing customer experience, strengthening operational capabilities, and aligning service quality with global standards, so that residents and visitors can enjoy international-level experiences right here in Vietnam.”

Previously, Vinhomes Green Paradise Can Gio partnered with IHG Hotels & Resorts to develop four hotels with a total of 1,000 rooms. The presence of international brands such as IHG Hotels & Resorts and Marriott International not only expands accommodation capacity but also significantly enhances the project’s ability to attract global visitors. This forms a critical foundation for the coastal mega-urban area to elevate experiences and move closer to its goal of becoming a world-class residential, tourism, and resort destination.

Vinhomes Green Paradise Can Gio is a 2,870-hectare coastal mega-urban development located in the southeastern part of Ho Chi Minh City, featuring three sides facing the sea and adjacent to a 75,000-hectare biosphere reserve recognized by UNESCO. The project benefits from major infrastructure connectivity, including the Ben Thanh – Can Gio high-speed railway (reducing travel time to 13 minutes from central Ho Chi Minh City), the Can Gio Bridge, the Rung Sac – Ben Luc – Long Thanh interchange, and the Can Gio – Vung Tau coastal expressway.

A distinctive feature of the project is its integrated Green – Smart – Ecological & Regenerative model aligned with leading global ESG++ standards. Alongside its spectacular natural setting and green living environment, the development offers a synchronized amenity system and unique highlights, including the 122-hectare VinWonders theme park featuring the world’s tallest artificial snow mountain and nearly 200 attractions; the 800-hectare Paradise Lagoon; Landmark Harbour international port; the 5,000-seat Song Xanh Opera House; an international-standard golf course; and a portfolio of five-star accommodation. These elements form the foundation for Vinhomes Green Paradise Can Gio to emerge as a new “urban wonder”, with the capacity to welcome up to 40 million visitors annually in the future.

Hashtag: #Vinhomes

https://vinhomes.vn/en

The issuer is solely responsible for the content of this announcement.

About Vinhomes

Vinhomes is Vietnam’s leading real estate developer, pioneering the development of large-scale, well-planned urban areas with integrated amenities, green living environments, and modern lifestyles. In addition to 36 urban developments currently in operation nationwide, Vinhomes continues to focus on building next-generation mega and super urban developments of regional scale and significance, aspiring to create some of the most livable cities in the world while significantly transforming Vietnam’s urban landscape.

For more information, please visit https://vinhomes.vn/vi

About Vinpearl
Vinpearl is Vietnam’s leading tourism, hospitality, and entertainment brand, currently operating 60 properties across 20 provinces and cities, including five-star hotels and resorts, VinWonders theme parks, golf courses, and convention centers. With 22 years of development, Vinpearl owns 35 five-star hotels and resorts with 17,300 rooms, 15 VinWonders parks, six golf courses, three VinPalace centers, and integrated service complexes. With flagship destinations such as Nha Trang, Phu Quoc, Da Nang – Nam Hoi An, Ha Long, and Hai Phong, Vinpearl delivers premium travel experiences, contributing to elevating Vietnam’s tourism profile globally.

About Marriott
Marriott International (Nasdaq: MAR), headquartered in Bethesda, Maryland, USA, operates a diverse portfolio of brands spanning luxury, premium, select, midscale, extended stay, and all-inclusive segments, with more than 9,800 properties across 145 countries and territories as of December 31, 2025. Marriott operates, franchises, and licenses hotel, residential, timeshare, cruise, outdoor lodging, and other hospitality products globally. The company also offers Marriott Bonvoy®, its award-winning travel platform.

For more information, please visit www.marriott.com and www.marriottnewscenter.com, or connect via Facebook and @MarriottIntl on X and Instagram.

The 19th Beijing International Automotive Exhibition, held from April 24 to May 3, brought together nearly 1,000 companies from 26 countries and regions across two venues for the first time. Its 380,000 square metres of exhibition space, spread across 17 halls at the China International Exhibition Center in Shunyi and the Capital International Convention and Exhibition Center, made it the largest edition in the event’s history.

Organisers recorded 1.28 million visitors, including about 65,000 overseas attendees, underlining the show’s growing appeal beyond China’s domestic market. A total of 1,451 vehicles were displayed, including 181 world premieres and 71 concept cars, placing the event among the most active global platforms for new model launches.

The numbers told only part of the story. Auto China 2026 was dominated by a clear shift from conventional vehicle launches to software-defined mobility, artificial intelligence, battery breakthroughs and advanced driver assistance. Carmakers used the show not merely to present new models, but to demonstrate how quickly vehicles are becoming technology platforms.

China’s home-grown manufacturers were at the centre of the exhibition’s momentum. BYD, XPeng, Nio, Geely, Chery, Dongfeng and Huawei-linked brands showcased vehicles and systems aimed at defending their lead in the world’s largest car market while accelerating overseas expansion. Their focus was sharply aligned with consumer demand for longer range, faster charging, smarter cabins and more automated driving functions.

BYD highlighted fast-charging and low-temperature battery performance, including technology designed to charge under conditions as cold as minus 30 degrees Celsius. CATL drew attention with new battery systems promising ultra-fast charging and longer driving ranges, including a version of its Shenxing battery that can charge from 10 per cent to 98 per cent in about six and a half minutes. These advances added further pressure on global rivals still working to close gaps in battery cost, charging speed and supply-chain depth.

Huawei’s presence illustrated the growing power of technology suppliers inside the automotive ecosystem. Its intelligent driving systems, HarmonyOS cockpit technology and vehicle partnerships featured prominently across several brands. The company’s Qiankun advanced driving system was presented as part of a broader push into AI-assisted mobility, with claims of stronger collision avoidance and more natural in-car interaction.

XPeng used the event to promote intelligent driving features that can detect when a driver is unable to control the vehicle, pull over automatically and alert emergency services. Nio displayed its three brands, Nio, Onvo and Firefly, together at the same booth, signalling a wider product strategy covering premium, family and mass-market electric segments.

Foreign automakers also used Beijing to reset their China strategies. Volkswagen introduced China-focused electric models and AI-driven cockpit features developed with local partners, including XPeng and Horizon Robotics. BMW, Mercedes-Benz and Toyota presented products tailored to a market where customers increasingly expect high-end digital functions even in mid-priced vehicles.

The competitive pressure remains intense. China’s passenger car sales fell sharply in the first quarter from a year earlier, reflecting weaker subsidy support, cautious consumers and price competition across the sector. Exports, however, continued to expand strongly as China-made vehicles gained ground in Europe, Southeast Asia, Latin America and other growth markets.

That divergence shaped much of the discussion around the exhibition. Domestic demand is tougher, margins are thinner and consolidation risks are rising, yet China’s automakers and suppliers are moving faster on product cycles than many overseas competitors. More than 80 new models were launched in China in March alone, a pace that underscores the speed of iteration in the market.

Auto China 2026 also showed that global expansion is entering a new phase. Chinese manufacturers are no longer relying only on exports. Several are building or planning overseas production bases to reduce tariff exposure, ease regulatory concerns and strengthen local market access. Hungary, Turkey, Southeast Asia and Latin America have emerged as important destinations for investment.

• US$8 billion ultra-premium integrated commercial property debuts new lifestyle destination located along Shanghai’s iconic Huangpu River waterfront
• New “Enjoy Life” brand theme highlights premium tenant mix of designer retail and lifestyle brands

HONG KONG SAR – Media OutReach Newswire – 4 May 2026 – Hongkong Land Holdings Limited (“Hongkong Land” or the “Company”) marked a key milestone with the opening of Phase Two at Westbund Central, its flagship ultra-premium integrated commercial property in Shanghai’s Xuhui District that is one of the largest mixed-use developments in the world. This stage of the US$8 billion project’s rollout is complemented by its new “Enjoy Life” brand theme, reinforcing the district’s role as a dynamic environment for work, living and leisure.

The Phase Two commercial launch introduces a diverse mix of global first stores, designer labels, and flagship concepts that reinforce Westbund Central’s position as a new downtown in Shanghai. New tenants include international icons such as Issey Miyake, the multi-brand boutique SND, Leica Store & Gallery, artisanal Swiss chocolatier House of Läderach, and design houses HAY and Paulmann.

With a planned total gross floor area of more than 1.7 million square metres, Westbund Central is the Company’s largest-ever single investment and brings together a diversified commercial mix that includes more than 600 international retail and lifestyle brands, 180 food and beverage operators, more than 50,000 square metres dedicated to cultural and art facilities, as well as 650,000 square metres of premium Grade A offices that will house occupiers including globally renowned companies such as adidas and lululemon.

While Phase One centred on food and beverage, cafes, and sports and leisure facilities, Phase Two enhances the district’s prestige by focusing on designer lifestyle brands. Looking ahead, Phase Three will introduce a cluster of global luxury maison flagships to further boost the district’s international appeal. Around 12,000 square metres of retail space is already open, with an additional 30,000 square metres opening within this year.

Michael T. Smith, Group Chief Executive of Hongkong Land, said: “Westbund Central is a fresh and dynamic example of our strategic focus to develop ultra-premium, integrated commercial districts in Asia’s leading gateway cities. As Hongkong Land’s largest single investment to date and our flagship China property, Westbund Central is one of the most significant projects in the company’s portfolio and designed to deliver sustained long-term value.”

Stuart Grant, Chief Executive of Westbund Central, said: “Westbund Central is being shaped as Shanghai’s new downtown and we are incredibly proud to build one of the largest mixed-use properties in the world that redefines modern urban living. We are creating a globally renowned ‘city within a city’ where the finest quality office, retail, residential and hospitality components converge in a single vibrant destination where people can truly enjoy life.”

As further phases are delivered, Westbund Central will continue to reinforce its position as one of Shanghai’s most significant integrated commercial districts and a cornerstone of the company’s long-term growth strategy in its portfolio.
Hashtag: #HongkongLand

The issuer is solely responsible for the content of this announcement.

Westbund Central

Hongkong Land’s Westbund Central is the Group’s largest-ever single investment. Scheduled to complete in phases up until 2028, it is an US$8 billion development encompassing approximately more than 1.7 million sq. m. of prime mixed-use property strategically located at Shanghai’s Xuhui Waterfront. It is a flagship development of Hongkong Land’s prime commercial properties’ CENTRAL Series. The ultra-premium integrated commercial property includes 240,000 sq. m of retail space, 650,000 sq. m. of premium Grade A offices, 160,000 sq. m. of high-end waterfront luxury residences, two hotels (55,000 sq. m.) and over 50,000 sq. m. of cultural and art venues.

Hongkong Land

Hongkong Land is a major listed property development, investment and management group. It focuses on developing, owning and managing premium and ultra-premium mixed-use real estate in Asian gateway cities, featuring Grade A office, luxury retail, residential and hospitality products. With over US$50 billion in assets under management, Hongkong Land’s ultra-premium mixed-use real estate footprint spans over 1.97 million sq. m. lettable area in operation and 1.43 million sq. m. lettable area under development, with flagship mixed-use projects in Hong Kong, Singapore and Shanghai. Its properties hold industry leading green building certifications and attract the world’s foremost companies and luxury brands. Established in 1889, Hongkong Land takes a long-term view, investing significantly alongside its capital partners and concentrating its portfolio where it can create the most value for tenants, customers and investors. Hongkong Land Holdings Limited has a primary listing on the London Stock Exchange, with secondary listings in Singapore and Bermuda. Hongkong Land is a member of the Jardine Matheson Group.

The order, issued by the Ministry of Commerce on 2 May, marks China’s first known use of a formal blocking mechanism against US sanctions on domestic companies. It targets measures against Hengli Petrochemical Refinery Co, Shandong Shouguang Luqing Petrochemical Co, Shandong Jincheng Petrochemical Group Co, Hebei Xinhai Chemical Group Co and Shandong Shengxing Chemical Co. The firms had been placed under US restrictions linked to alleged purchases or processing of Iranian crude, including asset freezes and transaction bans.

The move places banks, insurers, commodity traders and shipping intermediaries in a difficult position. Compliance with Washington’s restrictions may now expose them to legal risk in China, while compliance with Beijing’s order may expose them to penalties under the US sanctions regime. For large Chinese banks with international operations, the dilemma is particularly acute because access to dollar clearing, correspondent banking and global capital markets remains central to their business.

China has long rejected unilateral US sanctions as illegitimate, especially when they apply beyond American territory. Until now, however, Beijing had often allowed major financial institutions and state-linked enterprises to quietly reduce exposure to sanctioned entities to avoid jeopardising access to the US financial system. The latest order changes that balance by instructing domestic parties not to recognise, enforce or comply with the penalties.

The legal basis lies in China’s blocking rules against what Beijing describes as unjustified extraterritorial application of foreign laws. Those rules, introduced in 2021 and strengthened by additional countermeasure regulations, allow authorities to prohibit compliance with foreign restrictions that impair normal business with third countries. The 2 May order says the US measures against the refiners improperly restrict lawful trade and harm the rights of Chinese entities.

The immediate trigger is Washington’s renewed pressure on Iranian oil revenues. Hengli’s Dalian refinery, with capacity of about 400,000 barrels per day, is among the most prominent privately owned refining assets to be targeted. US authorities have accused it of buying large volumes of Iranian crude. Hengli’s parent has denied trading with Iran and said operations remain normal.

Other sanctioned firms are part of China’s independent refining sector, often described as “teapot” refiners, clustered mainly in Shandong and surrounding provinces. These companies have become central to China’s discounted crude imports, including oil from Iran and Russia, as state refiners have generally been more cautious in handling cargoes exposed to sanctions risk.

The financial implications extend beyond the refiners themselves. Banks processing payments, lenders providing working capital, insurers covering cargoes, shipowners transporting crude and brokers arranging trades could all face competing legal obligations. International banks are likely to adopt a more conservative stance, while smaller domestic institutions may come under pressure to maintain services to companies protected by Beijing’s order.

Hengli has already moved to limit operational disruption. Its Singapore trading unit was restructured after the US designation, with a majority stake transferred to a company linked to a local government entity in Dalian. The shift has not fully reassured counterparties, as brokers and financial institutions remain wary of dealing with entities connected to sanctioned operations.

The confrontation comes as energy markets are adjusting to tighter enforcement against Iranian crude flows. China remains Iran’s largest oil customer, with independent refiners attracted by discounted barrels at a time when domestic margins are under pressure. Traders have reported that cargoes are often routed through complex shipping arrangements, with documentation obscuring origin and payments settled through non-dollar channels.

For Beijing, the order is also a political signal. It asserts that China will not automatically absorb the costs of US secondary sanctions when strategic commodities, energy security and private industrial champions are involved. It also offers reassurance to domestic firms that the government is prepared to use legal instruments rather than limit itself to diplomatic protest.

For Washington, the step complicates enforcement. Sanctions work most effectively when banks and intermediaries avoid designated firms without needing direct prosecution. If China compels non-compliance at home, US authorities may have to decide whether to escalate against financial institutions that continue servicing the refiners, a move that could widen the dispute from energy trade into the banking system.

The Union Minister for Electronics and Information Technology, Railways and Information and Broadcasting made the remarks at the ground-breaking ceremony of the Google Cloud India AI Hub in Visakhapatnam, a project carrying an estimated investment of $15 billion. The facility, planned with Adani ConneX and Airtel Nxtra, will include a 1GW hyperscale AI data centre, with about 600 acres allocated across Turluvada, Rambilli and Adavivaram in Andhra Pradesh.

Vaishnaw’s comments reflect a broader policy effort to shift India’s role from assembly-led electronics manufacturing to deeper participation in global technology supply chains. The government is seeking to build domestic capability across finished devices, modules, sub-modules, components, raw materials, tools and manufacturing machinery, a progression seen as essential for reducing import dependence and gaining a larger share of global production.

Mobile phones remain the strongest evidence of that transition. Electronics production has risen from about ₹1.9 lakh crore in 2014-15 to about ₹11.3 lakh crore in 2024-25, while electronics exports climbed from about ₹38,000 crore to about ₹3.3 lakh crore over the same period. Mobile phone production expanded from about ₹18,000 crore to roughly ₹5.5 lakh crore, and mobile phone exports rose from about ₹1,500 crore to nearly ₹2 lakh crore, making the category one of the country’s most visible export successes.

Smartphones have become a leading export product, with Apple, Samsung, Tata Electronics, Foxconn, Dixon Technologies and other manufacturers playing prominent roles in the production ecosystem. The shift has been supported by the Production Linked Incentive scheme for large-scale electronics manufacturing, which helped attract global brands and contract manufacturers to expand capacity. The sector’s next phase, however, will depend less on assembly incentives and more on the availability of components, precision engineering, skilled labour, predictable taxation and faster logistics.

The Google Cloud project adds a digital infrastructure dimension to this manufacturing agenda. Vaishnaw urged global technology companies, including Google, to consider manufacturing servers, GPUs and chips in the country, arguing that the domestic data centre boom could create demand for high-value electronics and advanced computing hardware. Visakhapatnam is being positioned as an artificial intelligence hub, with subsea cable links expected to improve global connectivity through routes connecting Australia, the Middle East, Europe, Africa and the United States.

Semiconductors are the most strategic part of the plan. The India Semiconductor Mission has already helped draw investment into assembly, testing, marking and packaging facilities, chip design centres and fabrication proposals. Approved projects across several states include packaging units, display driver chip capacity and compound semiconductor facilities. The sector remains capital-intensive and technologically demanding, and India is entering a field dominated by Taiwan, South Korea, the United States, Japan, the Netherlands and China. Timelines, execution quality and ecosystem depth will determine whether the country can move beyond packaging and design services into higher-value production.

The government’s target of building a $500 billion domestic electronics ecosystem by 2030-31 is ambitious. It requires not only export-led growth but also a domestic supplier base for printed circuit boards, camera modules, batteries, displays, sensors, connectors, power electronics and semiconductor materials. Without local component depth, headline export gains can mask high import content, limiting value addition and leaving manufacturers exposed to currency swings and global supply disruptions.

Industry executives have generally welcomed the policy focus but continue to point to operational challenges. High logistics costs, customs procedures, dependence on imported inputs, limited component clusters, power quality, land acquisition delays and uneven state-level implementation remain constraints. Global companies also compare India with Vietnam, Mexico, Malaysia and Thailand when allocating production, making policy certainty and execution speed critical.

Labour availability is one of India’s advantages. Electronics manufacturing has generated large-scale employment, including substantial hiring of young women in assembly lines and component facilities. This has helped states such as Tamil Nadu, Karnataka, Uttar Pradesh, Andhra Pradesh and Gujarat compete for investment. Yet sustained growth will require improvements in industrial training, factory housing, transport, safety standards and career progression, particularly as production moves from assembly to precision manufacturing.

Geopolitics has created an opening. Companies are diversifying supply chains because of trade tensions, tariff risks, pandemic-era disruptions and concerns over concentration in China. India’s democratic institutions, large market, engineering talent and improving infrastructure make it a credible candidate for “China plus one” strategies. The challenge is to convert interest into anchored manufacturing networks that include suppliers, tooling companies, testing labs, logistics providers and research partnerships.

• Building upon its expertise in Europe, Rhenus is expanding its road freight solutions in Asia Pacific
• The strategic move will see dedicated expertise and resources to better support the region’s demand for fast and reliable freight transportation options
  

SINGAPORE – Media OutReach Newswire – 4 May 2026 – With demand for road freight services across Asia Pacific rising, leading global logistics provider Rhenus Group has announced plans to further expand its road freight operations in the region. As part of its broader regional growth strategy, the company is strengthening cross-border trucking across Southeast Asia and key corridors between Greater China and Southeast Asia. Building on this, it is continuously integrating road with air and ocean freight, while scaling local distribution, sourcing and leveraging existing free trade zone warehousing capabilities.

As part of this expansion, Rhenus is investing in local capabilities to support individual market needs including the recent establishment of its Bukit Kayu Hitam Border Office in Malaysia, with full customs capabilities to support smoother cross-border movements.

Prem Anand Anandaverl, Regional Director of Cross Border Trucking Asia, Rhenus Logistics notes, “Our goal is to provide a seamless connectivity to the global network by reinforcing a comprehensive road freight service and continue to help businesses to move their goods across Asia efficiently and compliantly. Road Freight is playing an increasingly important role in building a resilient supply chain especially in this region.”

Asia Pacific to see high demand for road freight services

The global freight trucking market size ^[1] is projected to be valued at US$2.74 Tn in 2025 and is set to reach US$3.70 Tn by 2032, growing at a CAGR (Compound Annual Growth Rate) of 3.9%. Asia Pacific remains a key growth driver, supported by expanding industrial output, a large consumer base, and rapidly developing logistics infrastructure enabling both domestic and cross-border trade.

Achieving Sustainable Growth through Road Freight: Consistency, Scalability and Increasing Customer Value

With more than 150 owned and partner road freight locations in Europe, Rhenus currently operates in over 15 countries through a well-established network. The expansion of road freight services in Asia Pacific will enable the company to further integrate its’ end-to-end supply chain solutions, combining road freight solutions with air and ocean services to deliver more flexible and customized logistics solutions globally.

Ongoing investments in multilingual local teams, dedicated border infrastructure, and best practice transport management systems will support seamless cross-border operations, stronger customs and regulatory expertise across markets.

Leveraging its rail connections between Greater China and Europe, alongside a robust multimodal network spanning sea, land, and rail, the company aims to provide customers with greater flexibility and scalability in response to evolving supply chain demands. The company is also working with partners to improve CO₂ tracking and explore alternative fuel options, supporting more sustainable road freight operations.

Hashtag: #Rhenus

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About Rhenus

The Rhenus Group is one of the leading logistics specialists with global business operations and annual turnover amounting to EUR 8.2 billion. 39,000 employees work at 1,300 business sites in more than 70 countries and develop innovative solutions along the complete supply chain. Whether providing transport, warehousing, customs clearance or value-added services, the family-owned business pools its operations in various business units where the needs of customers are the major focus at all times.

Light as a Bridge: A Garden of Light in Miniature

Centered on the theme of “Garden of Light,” the pop-up event blended Putuo’s cultural heritage with Milan’s artistic aesthetic, transforming the compact newsstand into four themed spaces: the Light of Development, the Light of Vitality, the Light of Warmth and the Light of Craftsmanship. Together, they created a refined and richly layered exhibition of urban aesthetics.

The Garden Walk zone conveyed the “Light of Vitality,” with artificial greenery recreating the energy of the Suzhou Creek waterfront. Cultural and creative products from the “Half Marathon Suzhou Creek” collection, including sand-art magnets, liquid-motion coasters and custom scarves, added to the lively atmosphere. The Interactive Experience zone embodied the “Light of Warmth,” linking stamp collecting, message sharing and film screenings to create a welcoming space where every visitor could take part in the cross-cultural exchange. The Craftsmanship Heritage zone interpreted the “Light of Craftsmanship,” featuring century-old Hero pens, intangible cultural heritage bamboo weaving and pieces from the Shanghai Mint, highlighting the brilliance of Eastern craftsmanship through light and shadow. The Light and Shadow Window zone represented the “Light of Development.” Warm light passed through suspended golden bookmarks, casting colorful reflections across the walls and floor, echoing the stained-glass windows of Milan Cathedral.

At the event, local residents and visitors posed for photos with light-and-shadow bookmarks, wrote heartfelt messages on postcards, and captured joyful moments with instant cameras. They collected commemorative stamps as keepsakes, experienced the elegance of Eastern writing with Hero pens, and watched the VR film “HI, This Is Half Marathon Suzhou Creek” for an immersive introduction to Putuo. The pop-up event transcended barriers of language and distance, bringing the urban charm of Putuo to people in Milan through experiences that were tangible, engaging and memorable.

Spring Echoes: Suzhou Creek’s Story Continues in Light

The “Spring Shanghai” themed pop-up was not only a city showcase in Milan, but also a dialogue between two cities across Europe and Asia. To extend the memory of this celebration of light, Putuo has created a “Garden of Light” themed corner at the Half Marathon Suzhou Creek Café & Cultural Creative Store, allowing cultural exchanges between the two places to continue to grow.

Inside the store, white magnolias and azaleas feature throughout the décor, symbolizing friendship and dialogue between the two cities. Decorative decals inspired by the stained-glass windows of Milan Cathedral cast colorful patterns of light across the floor, creating an aesthetic connection between Shanghai and Milan. Messages from visitors collected during the Milan event, handwritten postcards and instant photos will be displayed in artistic installations, including a corridor of greetings and a light-and-shadow photo wall reflecting a blend of Chinese and Italian culture. Limited-edition light-and-shadow bookmarks and other themed merchandise will also be introduced, while messages written by Shanghai residents in response will be compiled into a collection, creating a two-way bond of mutual goodwill.

From Milan to Suzhou Creek, Putuo used light as a bridge to continue the friendship between China and Italy across the two cities, while enabling more people to see and understand the story of “Half Marathon Suzhou Creek.”

Vibrant Putuo: Half Marathon Suzhou Creek in Full Flow

Putuo District is actively participating in China’s Yangtze River Delta integration strategy. It supports the development of the Shanghai–Nanjing Industrial Innovation Belt, advances the “one belt, one core, one city” framework, and promotes a vision of a coordinated innovation zone and a high-quality Half Marathon Suzhou Creek area. A digital-driven upgrade of the bulk commodity trade supply chain is currently taking shape. Along the Suzhou Creek waterfront, ecological landscapes are increasingly being transformed into spaces for industrial development. The Zhenru sub-center is speeding up its digital transformation, combining heritage with modern urban functions and integrating cultural and commercial activity. Taopu Smart City is emerging as a hub for R&D and advanced manufacturing, as it moves toward becoming a model for integrated urban-industrial development. Together, these developments are helping drive Putuo’s high-quality growth.

Industrial growth brings urban vitality, and a vibrant city improves people’s quality of life. Building on a solid foundation of high-quality development, Putuo is shaping a livable and business-friendly district defined by energy and human warmth. It is both a hub for sports and an appealing place to live. Major events such as the Suzhou Creek Half Marathon, dragon boat races, the 10km Elite Race and the National Curling Championships showcase the district’s dynamism and competitive spirit. Daily life offers a different rhythm. TOP Central Park provides expansive green space, the RV Music Festival draws crowds with live performances, M50 Creative Park remains a center for arts and culture, and Hong Shou Fang blends Shanghai-style charm with the atmosphere of neighborhood street life. Putuo is working to build a district-wide “15-minute community living circle,” giving residents convenient access to education, healthcare, eldercare and retail services. It is advancing child-friendly urban development, expanding the silver economy to better serve seniors, and creating homes and support services for the city’s builders and frontline workers. Through these efforts, openness, inclusiveness and warmth have become defining features of the district.

To learn more about Spring Shanghai and Spring Putuo, please watch the video here: https://youtu.be/196Fmmbrsio.

Hashtag: #PUTUO

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The smooth staging of the Games demonstrated Sanya’s capacity to host major international events. From competition venues stretching across 22 kilometers of coastline, to 22 designated hotels accommodating domestic and international guests, and the support of 4,680 volunteers, as well as touristic and cultural engagement activities, the host city’s organization and services received broad recognition. Abdulaziz Baeshen, Secretary General and CEO at the Saudi Olympic & Paralympic Committee, said, “The organization of this Asian Beach Games has been of a very high standard, once again demonstrating China’s outstanding capability in hosting major international sporting events.”

The success of the Games was underpinned by the policies of the Hainan FTP. Benefiting from visa-free access for citizens of 86 countries and event-specific facilitation measures, cross-border travel was efficient and seamless. Qatari athlete Ahmed Elmeniawy said, “The entry procedures were extremely convenient. It took less than two minutes to complete all arrival formalities — a truly excellent experience.” An official from the Saudi Olympic Committee also noted that the FTP policies and visa-free arrangements facilitated participation by delegations and promoted bilateral sports exchanges.

During the Games, Sanya launched a series of cultural tourism activities and consumer incentive packages centered on a “spectating plus vacation” model, boosting the integration of sports and tourism consumption. At the same time, the Asian Beach Games served as a platform for exchanges among Asian countries. During his visit to Hainan, Thomas Bach, Honorary President of the International Olympic Committee, said he felt “the unity of Asia.” Raja Randhir Singh, President of the Olympic Council of Asia, noted that despite differences in language and traditions, a shared passion for sport brings people together.

Although the Games have concluded, openness and cooperation continue. The event has provided valuable experience for the Hainan FTP in hosting major international events and demonstrated China’s continued efforts to expand high-level opening-up. The FTP will continue to deepen international exchanges and cooperation with an open and inclusive approach.

Hashtag: #6thAsianBeachGame #Sanya #China

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Opening remarks were delivered by Yuan Lin, Executive Assistant to the President of the Academy of Contemporary China and World Studies, and Wang Donghai, Associate Director of NUS Enterprise. Keynote speeches were delivered by Cai Yiyu, Professor at Nanyang Technological University; Director of the Computer-Aided Engineering Labs and The Strategic Research Program on Virtual Reality; Co-President of Association of Global Technomics Education and Exchange; Cui Kai, Director of the Digital Culture Promotion Department, Center for International Cultural Communication, China International Communications Group (CICG); and Yang Jianwei, Visiting Professor at the National University of Singapore.

Yuan Lin stated that the rapid development of artificial intelligence technology has injected new momentum into China-Singapore cultural exchanges. He stressed the importance of innovating cultural expression forms empowered by digital intelligence, upholding a correct value orientation in technological application, deepening people-to-people exchanges enabled by smart technologies, and actively exploring the profound value of intelligent technologies in advancing cross-cultural understanding.

Wang Donghai pointed out that it is essential to prioritize the integration of technological applications with social needs. Leveraging cutting-edge technologies such as artificial intelligence to build bridges for civilizational exchange helps enhance cross-cultural understanding, enabling technology to better serve humanity and drive social progress.

Cai Yiyu noted that Singapore is forging ahead in cutting-edge fields including semiconductors, aerospace and artificial intelligence, opening up broad prospects for bilateral cooperation between China and Singapore. He emphasized that digital and intelligent technologies can be harnessed to revitalize and inherit traditional culture via youthful, trendy formats, thereby further deepening scientific, technological and people-to-people exchanges between the two countries.

Cui Kai stated that intelligent imaging technology is profoundly reshaping the logic of cross-cultural narrative. Digital content creation is not merely about keeping pace with technological advancement; more importantly, it should take emotional resonance as the bond to break down cultural barriers, foster in-depth empathy, mutual learning and appreciation among global civilizations, and enable more outstanding civilizational achievements to be seen, understood and respected worldwide.

Yang Jianwei noted that artificial intelligence is becoming an important vehicle for inter-civilizational mutual learning, while cultural differences remain a core obstacle to cross-cultural communication. He advocated for the innovative and rational use of artificial intelligence in the future to eliminate prejudices and enhance civilizational understanding through technological power.

In the Case Sharing Session, guest speakers included Lisa Meng, Head of Singapore of Tencent Cloud International; Koh Chin Yee, Managing Director of Singapore Eye; Bai Yu, Director and Partner of LAiPIC; Hu Chengchen, Founder & CEO of ClariPpi (Singapore); Jane Zhao, SVP and Head of Global Business at Mininglamp Technology; and Jerry Tuo, AI Technology Director of Red Fun Planet. They delivered insightful presentations on the application prospects of artificial intelligence in content production as well as inter-civilizational mutual learning and exchange.

The participating guests agreed that artificial intelligence has brought revolutionary changes to the intelligent production, targeted communication and immersive presentation of cultural content. China and Singapore boast strong complementarity in digital infrastructure and cultural resources. Going forward, the two sides may deepen cooperation in joint research and development and scenario-based application, develop benchmark cultural-technology products and integrated solutions tailored for Southeast Asia, and jointly advance the high-quality development of the digital cultural industry.

This event was jointly hosted by the Academy of Contemporary China and World Studies and the Center for International Cultural Communication,CICG, with Nanyang Technological University and other cultural and business exchange institutions participating as supporting partners.

Hashtag: #ACCWS

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By Nitya Chakraborty Just two weeks before the scheduled summit of U.S President Donald Trump with the Chinese President Xi Jinping in Beijing on May 14-15, the report of the World Intellectual Property Organisation (WIPO) on the status of AI related applications, has unnerved the U.S. administration as the latest Chinese supremacy in robot related […]

The article China’s Lead Over U.S. In AI Patent Applications Casts Its Shadow Over Trump-Xi Summit appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

HONG KONG SAR – Media OutReach Newswire – 30 April 2026 – As urban life in Hong Kong places growing emphasis on efficiency, health and space utilisation, a truly future-facing bathroom brand has officially arrived. Leisure Plus Building Products Company Limited, which has been rooted in Hong Kong for nearly three decades, has officially announced its appointment as the Hong Kong sole agent for global bathroom leader JOMOO. Together, the two companies are bringing world-renowned premium smart bathroom products to the Hong Kong market, using JOMOO’s leading AI-powered digital technology to deliver innovative bathroom solutions tailored to the city’s unique living environment. This partnership not only marks the arrival of a heavyweight international brand in Hong Kong’s bathroom market, but also signals a new AI-driven era for local homes and commercial spaces.

For Hong Kong people, the bathroom has never been a purely functional space. Within a limited footprint, it carries cleansing, grooming, care, storage, and the rhythm of how each day begins and ends. Space is compact, humidity is high, storage must be efficient, and expectations for the user experience keep rising. JOMOO’s arrival in Hong Kong answers the city’s pursuit of efficiency, comfort, health and aesthetics with world-leading AI bathroom technology. The brand is also introducing several smart toilets and innovative bathroom mirror cabinets for their Hong Kong debut, showing how bathroom AI can move from concept into daily life and become a real part of improving everyday living.

Leisure Plus Building Products said: “Bringing JOMOO to Hong Kong reflects Leisure Plus’s deep insight into the future of living. We see Hong Kong’s premium bathroom market moving beyond traditional hardware into a new stage that combines smart technology, health management, space integration and sensory experience. By partnering with JOMOO, Leisure Plus is bringing globally leading AI smart bathroom technology to Hong Kong, not only adding an international-calibre brand to the market, but also redefining daily life through technology, enabling the bathroom to evolve from a single-function space into a core living space that delivers comfort, efficiency and wellness value.”

JOMOO: Reshaping the Bathroom Experience with AI and Unrivalled Global Leadership

Founded in 1990, JOMOO has long ranked No.1 in China’s bathroom industry and among the world’s top three. With technology-driven bathroom living at its core, the brand combines R&D, intelligent manufacturing and innovative design, and is committed to redefining premium living through AI. As the pioneer behind the “AI BATH” scene-based brand, JOMOO breaks away from conventional product thinking with pioneering motorised flip-and-discharge cleansing technology that significantly improves performance while achieving library-level quietness. Combined with AI robotic self-cleaning and contact-free health sensing technologies, it deeply integrates artificial intelligence, biosensing and everyday bathroom use, delivering more proactive and thoughtful health support for users.

In this high-profile move into Hong Kong, JOMOO is guided by the strategy “Tech Bathroom, Global JOMOO”, bringing not only products but also a lifestyle upgrade powered by AI. Tailored to Hong Kong’s compact and humid living environment, the brand offers smart, space-saving and health-enhancing bathroom solutions, helping lift the overall standard of bathroom living in the city.

From Smart Toilets to Bathroom Cabinets: A Powerful New AI Bathroom Lineup Arrives in Hong Kong

G06 and G08 Smart Digital Toilets

In Hong Kong’s space-constrained homes, bathroom spaces often face multiple challenges, including limited room, humidity and restricted functionality. Tailored specifically for Hong Kong homes, JOMOO is introducing two flagship smart toilets and one smart bathroom cabinet that use AI-powered digital technology to resolve the tension between space and functionality in one stroke, bringing consumers a world-leading premium smart bathroom experience. The G06 Smart Digital Toilet is an entry choice that balances intelligence, comfort and practicality, while the G08 Smart Digital Toilet comes with an upgraded digital display and a more comprehensive smart feature set, taking comfort, convenience and technology to a new level.

To address the common problem of compact bathrooms in Hong Kong, both products are equipped with features such as “triple foot-sensing control”, “smart wireless control” and “auto-flush on departure”. Users do not need to twist sideways or make unnecessary movements, and can enjoy a freer, smoother toilet experience even in narrower bathroom spaces. With an IPX4 water-resistance rating, the products also handle Hong Kong’s humid environment with ease, delivering reassurance and durability in everyday use.

Product highlights:
– Triple foot-sensing control with automatic lid opening for elegant use even in narrow spaces
– AI smart temperature sensing and adjustment for lasting comfort
– High-definition digital display showing water and seat temperature at a glance
– Multiple cleansing modes with antibacterial nozzle and warm-air drying system
– Soft-glow night light and backup flushing during power outages
– IPX4 high-efficiency water resistance for humid environments

Pricing:
– G06 Smart Digital Toilet:
Original price HK$5,980; promotional price HK$4,980

– G08 Smart Digital Toilet:
Original price HK$8,580; promotional price HK$5,980

Revolutionary Smart Bathroom Cabinet: VERA Jinci Series

Addressing the core issue of limited bathroom space in Hong Kong’s mainstream residential developments, JOMOO will soon launch the suspended VERA Jinci Series Smart Bathroom Cabinet. Powered by AI technology, it integrates three major functions – beauty-product preservation, dedicated wash care, and smart mirror features – so that every inch of space delivers greater value and daily routines become more precise, smoother and more relaxed, completely reinventing the bathroom experience.

Product highlights:
– 998x532x1900mm suspended golden-ratio structure with zero hygiene blind spots
– Built-in cosmetics fridge with AI-controlled constant temperature and humidity for skincare freshness
– Built-in 0.8kg mini drum washer with six cleansing modes tailored for small items
– Mirror with touch-control natural-light ambience and one-touch defogging
– High colour-rendering mirror for true-to-tone makeup application
– Moisture-resistant eco solid-wood body suited to Hong Kong’s maritime climate

The VERA Jinci Series Smart Bathroom Cabinet is scheduled to officially launch in Hong Kong in mid-2026. Consumers will be able to experience its intelligent features firsthand at JOMOO’s Hong Kong experience store. (Price to be announced)

Hashtag: #JOMOO #LeisurePlus #SmartBathroom

https://leisureplushk.com/

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About Leisure Plus Building Products Company Limited

Established in 1997, Leisure Plus specialises in building products and design solutions for developers, architects and designers. Its services cover the supply of bathroom and kitchen equipment, design consultancy, logistics, technical support and installation. Since entering Mainland China in 2003, the company has established subsidiaries in Shanghai and Hubei and participated in a number of landmark projects, including Vanke Zhongxing Road No.1, Shanghai Sheshan Shimao InterContinental Hotel and Wuhan Tianhe Airport Terminal 3. This sole-agency partnership with JOMOO reflects Leisure Plus’s forward-looking vision: embracing the smart home wave, understanding Hong Kong people’s living needs, and combining its extensive project experience with world-class smart bathroom technology to further enhance living quality and health experiences. (Website: https://leisureplushk.com/)

About JOMOO

Founded in 1990, JOMOO is an international fully integrated enterprise centred on smart digital bathroom solutions, firmly holding a leading global position as “No.1 in China, Top 3 in the World”. The brand has been jointly certified by Frost & Sullivan and Euromonitor as both the “World’s No.1 Smart Toilet Brand by Sales Volume” and the “No.1 Smart Toilet Brand in China”. It operates 16 R&D centres and 15 green lights-out factories worldwide, has accumulated more than 20,000 patents, and invests over 10% of annual sales revenue in R&D, continuously driving the intelligent transformation of the global bathroom industry. Its design strength has earned repeated international recognition, including the Red Dot: Best of the Best and the iF Design Award. JOMOO products are sold in more than 120 countries and regions and are installed in over 300 global landmark projects, including Emirates Palace Abu Dhabi, Burj Al Arab Dubai, The Peninsula Hong Kong and Beijing National Stadium (Bird’s Nest). JOMOO’s arrival in Hong Kong not only expands its global footprint, but also brings the market a new bathroom benchmark defined by technology, scenario-driven design and premium lifestyle quality. (Website: https://www.ejomoo.com.hk/)

In his speech, GWM CEO Mu Feng emphasized that commitment and integrity are essential to accelerating high-quality growth. Guided by the GWM ONE (Guiyuan) philosophy, GWM continues to focus on real user needs, building solid product strength, technological excellence, and global brand value.

“Trust built on commitment and integrity is the strongest foundation in business,” Mu said. From a global perspective, he reaffirmed GWM’s commitment to deepening its roots in international markets, constructing a complete business ecosystem, and advancing what he called “ecosystem-based globalization.” Based on respect, long-term dedication, and genuine local cultivation, the company aims to forge lasting bonds of trust with users worldwide.

A Robust Portfolio Defining Elevated Product Excellence

At Auto China 2026, GWM showcased a comprehensive portfolio spanning six major lineups. From family SUVs to premium off-road vehicles, from urban commuting to long-distance motorcycle touring, the offerings are thoughtfully engineered to meet the diverse demands of today’s mainstream global consumers.

The WEY V9X is the first flagship model built on the GWM ONE S Platform. With its spacious six-seat layout, native AI agent, and Super Hi4 hybrid architecture, the V9X was developed not just for China, but as a global model for users worldwide.

The all-new TANK 700 made a strong impression with dual-flagship powertrain options: 3.0 Hi4-T and 2.0 Hi4-Z, making it the first body-on-frame model to integrate a VLA large model. The GWM P300 Hi4-T adopts the Hi4-T hardcore off-road super hybrid architecture, equipped with the Coffee OS 3 smart cockpit and high-power external discharge, delivering intelligence, reliability, and all-scenario adaptability. The P500 Hi4-T offers higher performance and greater luxury, ushering pickups into a new 4.0 era of “all-scenario, intelligent, and new energy.”

For key markets such as Australia and Thailand, where off-road culture is deeply rooted, these two models powerfully demonstrate GWM’s localized product expertise.

Designed for young users seeking individuality and a lifestyle-oriented mobility experience, the GWM ORA 5 Sport has already generated strong interest in Europe and Southeast Asia. During the auto show, overseas media also took part in in-depth test drives, allowing the product itself to prove GWM’s technological claims.

The entire SOUO Motorcycles lineup stole the spotlight with the world’s only 2,000 cc horizontally opposed eight-cylinder engine, redefining the premium long-distance motorcycle touring experience. Within GWM’s brand matrix, SOUO is the clearest expression of the brand’s “confidence in driving culture.”

Multidimensional Breakthroughs Highlight GWM’s Competitive Edge

Behind every compelling vehicle lies deep technological strength. The GWM technology zone drew large crowds eager to explore the company’s latest R&D advancements firsthand.

High-Performance V8: At the auto show, GWM introduced a new high-performance powertrain architecture headlined by an all-new in-house high-performance V8 engine — a major step forward in GWM’s powertrain capabilities. The company also showcased a world-class lightweight solution featuring extensive carbon fiber, as well as a newly adopted mid-engine layout designed to deliver exceptional handling performance.

GWM ONE Platform: In intelligent technology, GWM has built a formidable competitive moat across data, algorithms, and computing power. Its VLA assisted-driving large model and other intelligent technologies have received wide acclaim. The GWM ONE Platform supports five powertrain variants: PHEV, HEV, BEV, FCEV, and ICE. It enables one platform to support multiple powertrains, product categories, body styles, and global markets. Built on native AI, the platform integrates dual VLA large models and creates a native full-stack intelligent agent. It also uses AI to redefine safety logic, deeply fusing active and passive safety systems and reinforcing GWM’s commitment to safety.

GWM Hi4 has evolved into a comprehensive powertrain family tailored to different driving scenarios and user needs. The new-generation Hi4 technology continues to deliver “the performance of four-wheel drive with the energy consumption of two-wheel drive,” making advanced all-wheel-drive capability more accessible than ever. Hi4-Z is designed for general off-road scenarios, while Hi4-T is for hardcore off-road demands, each bringing distinctive strengths and further consolidating GWM’s leadership in off-road mobility.

GWM also presented its forward-looking diesel hybrid technology for demanding off-road and towing scenarios. The new powertrain is expected to cut urban fuel consumption by 15% while boosting acceleration performance by 40%.

Ecosystem-Based Globalization Builds Stronger Global Brand

At Auto China 2026, the GWM booth attracted large numbers of overseas visitors, media journalists, dealers, and investors, becoming a key platform connecting GWM with global users. The invitation of 1,500 media and dealers reflects GWM’s growing global appeal. According to some overseas media reports, Chinese automakers are reshaping industry norms through shorter R&D cycles, innovative concepts, and well-coordinated supply chains.

Amid rising complexities and tariff barriers, GWM is shifting its global strategy from simple product exports toward comprehensive local ecosystem development — an approach increasingly recognized across the industry. The future of global competition will no longer be about exporting products, but about the coordinated global expansion of technology standard-setting, supply chains, and brand value as an entire ecosystem.

At Auto China 2026, GWM showcased core technologies including the super V8, Hi4 Hybrid, and ADAS — technologies that will help the company participate in setting global industry standards and building a lasting brand moat.

Reliable products remain GWM’s promise to users. Accessible technology is its contribution to the industry. Ecosystem-based globalization is its commitment to local communities. GWM is taking root and growing in every aspect of its global operations — from technical architecture and product definition to manufacturing, after-sales service, compliance, and cultural integration. While the industry remains focused on overseas sales growth, GWM has already elevated “deep localization” as a new benchmark for global success, building a shared future with users through genuine, long-term commitment.

Hashtag: #GWM

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By K Raveendran Abu Dhabi’s decision to walk away from OPEC marks more than a dispute over barrels. It signals a recalibration of Gulf power, energy strategy and security alignments at a moment when the Iran war has exposed the limits of regional consensus. For decades, the UAE operated inside a cartel system dominated by […]

The article UAE Break From OPEC Reshapes Gulf Oil Politics appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

The city’s merchandise trade gap widened to HK$89.1 billion in March 2026, equal to 12.6 per cent of the value of imports. Total exports rose 35.8 per cent year on year to HK$618.4 billion, while imports jumped 41.2 per cent to HK$707.5 billion, underscoring the unusual scale of the surge in cross-border goods flows through one of Asia’s main trading hubs.

The figures point to a mixed signal for Hong Kong’s externally oriented economy. Export growth was the strongest since early 2021, reflecting robust global demand for electronic components, telecommunications equipment, semiconductors and related supply-chain goods. Yet the sharper rise in imports left the city with a deficit larger than any monthly gap recorded over more than seven decades, highlighting the pressure created by front-loaded purchases, supply-chain repositioning and higher input costs.

For the first quarter of 2026, total exports climbed 32 per cent from a year earlier, while imports increased 37 per cent. The visible trade deficit for the quarter reached HK$168.4 billion, equivalent to 9.8 per cent of imports. On a seasonally adjusted basis, exports rose 18.4 per cent from the previous quarter, while imports advanced 20 per cent.

The most striking gains came from technology-linked categories. Exports of electrical machinery, apparatus, appliances and related parts rose by HK$99.8 billion, or 47.9 per cent, in March from a year earlier. Telecommunications and sound recording equipment exports increased by HK$40.2 billion, or 94.7 per cent, while non-ferrous metals shipments rose by HK$10.2 billion, or 175.9 per cent.

Imports showed a similar pattern, but with larger absolute increases in several categories. Purchases of electrical machinery and related parts grew by HK$106.2 billion, or 49.5 per cent. Telecommunications and sound recording equipment imports rose by HK$45.3 billion, or 93 per cent. Non-ferrous metals imports surged by HK$30.4 billion, a rise of more than 400 per cent, suggesting strong demand for materials used in electronics, data-centre infrastructure and advanced manufacturing supply chains.

The widening deficit also reflects Hong Kong’s role as a re-export centre rather than a conventional manufacturing economy. Goods imported into the city often move onwards to mainland China, Southeast Asia, the United States and Europe after financing, logistics, testing, repackaging or redistribution. During periods of strong global technology demand, import values can rise faster than exports if companies build inventories, reroute shipments or accelerate procurement to avoid transport delays.

Geopolitical tensions have added another layer of volatility. The war in the Middle East has pushed up energy prices, raised shipping risks and complicated trade routes linking Asia with Europe and the Gulf. Higher freight and insurance costs can lift the recorded value of imports, while uncertainty over maritime routes may encourage companies to bring forward shipments or diversify logistics channels. Hong Kong, with its deep financial links and dense regional supply-chain networks, is exposed to those shifts even when final demand originates elsewhere.

The export destination data showed broad-based strength across Asia and beyond. Shipments to Singapore more than doubled, while exports to Malaysia, Thailand, Taiwan and mainland China recorded strong gains. Exports to the United States also rose sharply, reflecting resilient demand for electronics and technology-linked goods despite continuing trade friction and tariff risks. Shipments to the United Kingdom declined, indicating uneven demand across advanced markets.

On the import side, increases were recorded from most major suppliers. Purchases from the United Kingdom, Korea, India, Vietnam, the United States and mainland China all rose substantially, underlining the geographically diverse nature of the procurement surge. Mainland China remained central to the city’s trade flows, both as a supplier and destination, while Southeast Asian economies continued to gain prominence in electronics and component supply chains.

The data suggest that Hong Kong is benefiting from the global investment race in artificial intelligence, cloud computing and advanced electronics, but the gains come with greater exposure to external shocks. Demand for AI servers, chips, networking equipment and related components has lifted trade volumes across Asia, while higher energy prices and shipping uncertainty are adding costs and complicating timing decisions for importers.

Beijing’s move to sharpen penalties for unauthorised rare earth production sent shares of major producers higher, as investors assessed a tougher enforcement regime that could curb illegal supply and reinforce China’s control over a sector central to clean energy, defence and advanced manufacturing.

China’s Ministry of Industry and Information Technology has opened public consultation on detailed penalty benchmarks under the Rare Earth Management Regulations, setting out how authorities should punish breaches involving mining, smelting, separation, product circulation and data reporting. The draft rules target companies and individuals that exceed state production quotas, operate without approval, process illicit raw materials, falsify traceability data or obstruct inspections.

The consultation runs until 28 May, adding another layer to a regulatory structure that took effect on 1 October 2024. The framework places rare earth mining, smelting and separation under a “total control” system, giving Beijing formal authority to set production limits and police flows across the supply chain. The new penalty table is designed to narrow discretion in enforcement by grading violations according to value, volume, frequency and consequences.

Rare earth-linked equities climbed in Shanghai and Shenzhen after the announcement. China Northern Rare Earth, China Rare Earth Resources and Technology, Huahong Technology and other names tied to mining, processing and permanent magnets moved sharply higher during Wednesday trading. The rare earth permanent magnet segment also advanced, helped by firmer prices for praseodymium-neodymium products and stronger first-quarter earnings from leading producers.

Investors read the draft as a supply-side signal. Stricter penalties could reduce unapproved output that has historically weighed on pricing during periods of weak demand. For larger quota-holding groups, tighter enforcement may support margins by giving compliant producers a stronger position in pricing and procurement. China Northern Rare Earth reported a first-quarter net profit of about 918 million yuan, more than double the level a year earlier, helped by higher average prices for core rare earth products. China Rare Earth Resources and Technology also posted a sharp rise in quarterly profit as prices for selected products improved.

The proposed penalties are substantial. Unauthorised smelting and separation, misuse of rare earth mineral products by recycling or comprehensive utilisation companies, and trading in illegal rare earth products can lead to confiscation of products, unlawful income and related equipment. Fines may reach five to 10 times unlawful gains, while cases with no gain or gains below defined thresholds can still attract penalties running into millions of yuan. Serious breaches can result in business licence revocation.

Traceability is a central element of the enforcement push. Companies that fail to record, upload or maintain data on product flows face fines and possible suspension if they refuse to rectify violations. The system is intended to make it harder for illegal ore, semi-processed products or recycled materials to enter formal supply chains undetected. It also strengthens the state’s ability to align domestic output with industrial policy, export controls and strategic stockpiling objectives.

Rare earths comprise 17 elements used in permanent magnets, electric vehicles, wind turbines, smartphones, robotics, missile guidance systems, radar, drones and precision equipment. China accounts for roughly 70 per cent of global rare earth mining and an even larger share of processing, refining and magnet manufacturing. That position gives Beijing significant influence over a supply chain that remains difficult and costly for other economies to replicate.

The policy shift comes against a backdrop of heightened competition over critical minerals. Export controls introduced in 2025 placed rare earth materials and related technologies at the centre of trade negotiations and industrial security planning. Licensing delays and tighter availability of high-performance magnets have already affected downstream manufacturers, particularly in automotive, electronics and defence-linked industries.

Western governments and companies are trying to build alternative supply chains, but progress remains uneven. Mining projects in the United States, Brazil, Australia, Greenland and parts of Africa have attracted capital, while magnet-making and separation capacity outside China remains limited. Processing is the central bottleneck, requiring specialised technology, environmental safeguards and long approval timelines. New ventures can take years to move from exploration to commercial output, leaving buyers exposed to Chinese policy decisions.

Environmental enforcement is also part of the equation. Illegal mining and poorly controlled processing have caused soil, water and radioactive waste concerns in several producing regions. Tougher penalties can be framed not only as an industrial strategy but also as an attempt to reduce pollution, consolidate smaller operators and push production towards state-backed or better-capitalised firms.

This year’s AGM saw members returning to Singapore to attend in person, alongside strong participation from those joining virtually.

A year of reset and strategic investment

In 2025, ISCA recorded its first operating deficit in a decade. This was the result of a deliberate decision to invest in areas that will strengthen the Institute’s long-term value to members and the profession. ISCA continues to maintain a strong financial position, with healthy reserves and a resilient balance sheet.

Rather than maintaining the status quo, ISCA undertook a year of reset and renewal, with spending focused on building stronger capabilities, growing the talent pipeline, expanding into new markets and building new growth engines.

ISCA emphasised that these investments were not made for growth alone, but more importantly, to better support members and provide greater member value in a rapidly evolving business and professional landscape.

Looking ahead, ISCA’s priorities remain clear: to deliver a better member experience, strengthen the talent pipeline and enhance its regional relevance. In 2026, the focus will be on ensuring that these investments translate into tangible and visible outcomes for members.

Expanding opportunities through internationalisation

At the AGM, ISCA Council and management addressed members’ questions on the institute’s plans to expand internationally. ISCA’s regional efforts are aimed at making it easier for members to access opportunities beyond Singapore. For members based in Singapore, this means more job opportunities, potential clients and partnerships across the region. For members based overseas, it means stronger local support and a more connected ISCA network where they live and work. ISCA CEO Ms Fann Kor cited an example of a member who had spent over 20 years building his career in China and was looking to return to Singapore. Through ISCA’s network, he was connected to a listed company seeking deep China experience, creating an opportunity that would otherwise have been difficult to access.

Progress across key areas

Despite being an investment year, ISCA reported progress across several areas:

• Membership grew to 43,500, with 11% growth and a 98.3% renewal rate
• ISCA House recorded 30,000 visits, with member satisfaction at 94%
• Singapore Chartered Accountant Qualification (SCAQ) candidate numbers grew by 37%, including 400 overseas candidates
• ISCA expanded its regional footprint to 12 overseas chapters across 9 countries, with 6 overseas offices and 3 Professional Services Centres
• Chartered Accountants Lab (CA Lab) readership reached 39,000, across more than 30 countries
• ISCA developed 8 AI agents and implemented 180 system enhancements to improve access and member experience
• ISCA Academy delivered close to 199,000 Continuing Professional Development (CPD) hours, while reducing average cost per hour by 6% to $37.70
• ISCA Cares marked its 10-year milestone, disbursing $1.5 million and supporting nearly 500 students
• For the first time, SCAQ is being promoted beyond Singapore, making ISCA the first professional body in Asia to promote our national CA qualification overseas
• The SCAQ was embedded in an overseas university for the first time, at Nanjing University of Finance and Economics

2026 ISCA Council Lineup

The newly-elected Council Members are:

• Mr Alan Chang Chi Hsung, Managing Director, OA Assurance PAC
• Ms Chua Siew Hwi, Senior Vice President, Changi Airport Group
• Mr Quah Zheng Wei, CEO, Accredify Pte Ltd
• Ms Tan Aik Na, Senior Vice President (Administration), Nanyang Technological University
• Ms Yong Zen Yun, Partner, General Assurance Leader, Pricewaterhousecoopers LLP

The re-elected Council Members are:

• Ms Jocelyn Goh Chern Ni, Audit & Assurance Partner, BDO LLP
• Mr Koh Wee Kwang, Director, Nexia Singapore PAC
• Mr Lee Boon Teck, Regional Managing Partner, Audit & Assurance, Deloitte & Touche LLP

The Council also appointed Ms Juliet Teo Juet Sim, Joint Head, Portfolio Development Group and Head, Ecosystem Enablement, Temasek Singapore Pte Ltd. Ms Teo was appointed for her expertise on how the finance profession is evolving in response to changing business models, sustainability priorities and global economic trends.

Office bearers

At the first Council meeting following the AGM, the ISCA office bearers were appointed. Mr Teo Ser Luck, immediate past president, was also appointed as ISCA Adviser.

President: Mr Lee Boon Teck

Vice Presidents:

• Ms Ang Suat Ching
• Ms Jocelyn Goh

Treasurer: Mr Song Yeow Chung

Secretary: Ms Judy Ng

Leadership perspectives

The newly elected ISCA President, Mr Lee Boon Teck, said: “The investments we have made over the past year lay the groundwork for a stronger, more connected profession. Our focus now is to ensure that every member, whether they are starting their career, leading an organisation, or building a practice overseas, can see and feel the difference ISCA makes. I am honoured to lead ISCA at this pivotal moment, and I look forward to working with the Council and our members to build on the strong foundations we have in place.”

ISCA Adviser and immediate past President Mr Teo Ser Luck said: “It has been a great privilege to serve ISCA, our members, and the accountancy sector over the past four years. This journey has been one of the most fulfilling I have ever embarked on. None of it would have been possible without an exceptional Council, a dedicated management team, and members who believed in what we were building together. My sincere appreciation to ISCA and our members for the opportunity to serve.”

ISCA CEO Ms Fann Kor said: “2025 was a year of deliberate investment to strengthen what matters most to our members and to the profession. We invested in the talent pipeline, member support, digital capability and regional connectivity so that ISCA can continue to stay relevant and useful in a changing environment. I would also like to thank Mr Teo Ser Luck for his leadership and contributions over the past four years. Under his stewardship, ISCA made meaningful progress in strengthening the profession, growing the Singapore CA Qualification and expanding our regional footprint. Management looks forward to working closely with the new Council to turn these investments into stronger outcomes and clearer value for members.

For the biographies of the elected office bearers, new and re-elected Council Members, please click here.
Hashtag: #DifferenceMakers #Accountancy #ISCACouncil #AGM

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Institute of Singapore Chartered Accountants (ISCA)

The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore. Established in 1963, ISCA administers the Singapore Chartered Accountant Qualification programme and is the designated entity by the Singapore Ministry of Finance to confer the Chartered Accountant of Singapore [CA (Singapore)] designation.

ISCA supports over 43,000 members across industries in Singapore and globally, with members in more than 40 countries. With a growing international presence, ISCA has 12 overseas chapters, 7 offices across 10 countries and a network of over 150 strategic partners, strengthening professional connections and opportunities across borders. ISCA is also a member of Chartered Accountants Worldwide, a global network representing more than 1.8 million Chartered Accountants and students across over 190 countries.

ISCA advances professional development and lifelong learning through ISCA Academy, its training arm and drives community impact through ISCA Cares, its charity arm.

For more information, visit www.isca.org.sg.

The grand opening ceremony welcomed a distinguished lineup of guests, including Wang Ning, Chairman and CEO of Easyhome; Tuan ACP Wan Azlan, Subang Jaya Police Chief; Tan Shyong Shan, Staff Officer for Enforcement (Inspector-General of Police’s Office); Vincent Lee Seng Chiang, CEO of Nanyang Siang Pau; Li Zhiqiang, Vice President of CECA and General Manager of China Telecom Malaysia; Dato’ Sri Dr. Philip Ho, CEO of Pavilion Group; KH Lim, Founder and CEO of Senheng; Dato’ Abdul Wahab, Advisor to Pavilion Group; and General Manager Xue Yaqi.

Strategic Entry into Southeast Asia

Wang Ning expressed strong confidence in Malaysia’s development prospects, positioning the country as a key starting point and strategic hub in the company’s global expansion roadmap.

He noted that as China’s manufacturing capabilities continue to advance, its products have become increasingly competitive globally, making international expansion an inevitable direction. At the same time, younger consumer demographics worldwide are driving demand growth, further reinforcing the push into overseas markets.

Malaysia’s mature business environment, openness to foreign investment, and strategic role as a gateway to Southeast Asia were key considerations. Moving forward, Easyhome Mall will serve as a base to expand into Southeast Asia, as well as into the Middle East and Central Asia.

Wang also revealed that the internationalisation strategy began approximately three years ago, with Malaysia being the first large-scale overseas implementation. Over the next three years, the company plans to strengthen its local supply chain and expand into key cities such as Johor Bahru and Penang, alongside other major regional markets.

A New Benchmark in Home & Lifestyle Retail

Established in 1999, Easyhome has grown into one of China’s leading home furnishing retail groups, operating nearly 400 stores nationwide. Its business ecosystem spans design services, furniture and building materials retail, smart logistics, and commercial operations, with strong emphasis on customer-centric service standards.

The Malaysia debut represents a replication of its proven “one-stop home solution” model, integrating China’s advanced supply chain with local consumer needs to deliver a seamless and innovative retail experience.

The project is developed in collaboration with Pavilion REIT, combining operational expertise and resource strengths to establish a benchmark for China–Malaysia commercial cooperation.

Empowering Smart Living Through Innovation

A representative from Pavilion REIT noted that the opening of Easyhome Mall marks a new phase for the Subang project, reflecting continuous upgrades and transformation to better serve the local community.

As technology reshapes lifestyles, homes are evolving into more intelligent and interconnected spaces. In response, Easyhome Mall introduces a new retail concept that integrates smart home technologies with modern living experiences, bringing a new dimension to Malaysia’s retail landscape.

A Fully Integrated One-Stop Home Destination

General Manager Xue Yaqi highlighted that home-related consumption typically involves multiple stages—from design and renovation to building materials, furniture, and appliances—often requiring consumers to visit multiple locations.

Easyhome Mall addresses this by consolidating the entire value chain into a single destination, enabling a seamless one-stop shopping experience. The “what you see is what you get” concept reduces information gaps and enhances decision-making efficiency.

This integrated model allows consumers to complete their home planning and purchasing journey within one space, significantly improving convenience and overall experience.

Comprehensive Lifestyle Offering

Located in USJ 1, Subang Jaya, Easyhome Mall is easily accessible via major highways including KESAS, NKVE, ELITE, and the Subang–Kelana Jaya elevated highway, as well as nearby LRT and BRT stations.

The mall features a carefully curated, multi-level layout:

Driving Digital Transformation

Easyhome’s expansion is supported by its digital ecosystem, including platforms such as Doorverse, Homestyler, and Easyhome IoT.

Homestyler, developed in collaboration with Alibaba Group and enhanced through AI technologies with NVIDIA, enables advanced 3D design and immersive user experiences.

The Doorverse platform has achieved rapid growth, surpassing RMB100 billion in gross merchandise value within three years, reflecting the strength of Easyhome’s digital capabilities.

These technologies support the transition from traditional retail to a digitalised industry service platform, enhancing both operational efficiency and customer experience.

Strengthening Regional Presence

Malaysia represents a key milestone in Easyhome’s global expansion and serves as its first large-scale integrated overseas development. Following earlier ventures in Phnom Penh and Macau, the Kuala Lumpur launch marks a deeper commitment to Southeast Asia.

Beyond retail, Easyhome Mall acts as a platform connecting high-quality Chinese home furnishing brands with the Malaysian market, while simplifying the traditionally complex home furnishing process into a more efficient and enjoyable experience.

Looking ahead, Easyhome plans to further integrate its supply chain, establish overseas warehousing, and support the global expansion of Chinese home brands—from product export to full-scale internationalisation of brands and manufacturing.

Grand Opening Highlights

The opening ceremony featured lion dance performances and a series of promotional activities, including exclusive offers and “crazy sales” deals, attracting strong public turnout and long queues from early morning.

The successful launch of Easyhome Mall marks a promising beginning in Malaysia and sets the foundation for continued growth across the region.

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