Tencent Holdings has launched Hy Image 3.5 Preview, its latest image-generation model, expanding its push into generative artificial intelligence as competition intensifies with ByteDance and Alibaba Group.
The model supports text-to-image creation, image-to-image generation and multi-round editing, according to Tencent Cloud documentation published alongside the release. It can accept multimodal inputs combining text and reference images, preserve context across successive editing turns and produce images at resolutions of up to 4K.
Tencent said the model improves on Hy Image 3.0 in text rendering, realism, stylistic expression and editing consistency. The company said internal evaluations showed an overall capability improvement of about 30 per cent over the previous generation, though those performance claims have not been independently established.
The new system is being integrated into Tencent products including its Yuanbao chatbot and a range of design, productivity and creative tools, while developers can access it through Tencent Cloud’s TokenHub platform. Tencent’s cloud documentation lists the model under the identifier hy-image-v3.5-preview and says it can handle up to 100,000 input tokens for conversational image-generation and editing requests.
The release places greater emphasis on iterative visual production rather than single-prompt image creation. Users can provide reference pictures, request changes over several rounds and retain earlier context, allowing the model to perform tasks such as poster design, product-image editing and other workflows that require repeated adjustments.
Tencent also says the model can use external search enhancement and automatic prompt rewriting, while its application programming interface allows developers to specify image dimensions or let the system determine an appropriate format. The model supports output of up to 4,096 by 4,096 pixels under Tencent Cloud’s documented limits.
The launch comes as China’s largest technology groups broaden their AI offerings beyond large language models and compete more aggressively in image, video and agent-based systems. ByteDance has built a strong position in visual-generation tools through its Seedream family, while Alibaba has expanded its Qwen image models alongside a wider push into cloud infrastructure and AI chips.
Tencent said testing among hundreds of its in-house designers found Hy Image 3.5 Preview performed on a level comparable with ByteDance’s Seedream 5.0 Pro. It also claimed the model slightly exceeded Google’s Nano Banana Pro and Alibaba’s Qwen-Image-3.0 Pro in its own assessments. The company did not disclose full methodology or independent benchmark results for those comparisons.
The timing also coincided with Alibaba’s annual Apsara conference in Hangzhou, where the company outlined plans for a much larger next-generation AI model and introduced its Zhenwu V900 accelerator chip. Alibaba Chief Executive Eddie Wu said the planned model would contain between five trillion and 10 trillion parameters, potentially several times the size of its current flagship system.
Tencent has been accelerating investment in its Hunyuan model family while placing more emphasis on deployment across its existing products. Its Hy3 language model, released in July, was designed around a mixture-of-experts architecture and has since been integrated into services including WorkBuddy, Yuanbao and Tencent Cloud.
The company has also strengthened its AI research leadership. Former OpenAI researcher Yao Shunyu serves as Tencent’s chief AI scientist, while computer-vision specialist Tian Yonglong joined the company in July and leads vision-language model development within the Hunyuan team.
Tencent’s Hong Kong-listed shares climbed more than 6 per cent during Tuesday trading as investors reacted to the product launch and a broader rise in technology stocks. The stock had also advanced in the previous session.
For business users, Tencent Cloud is positioning Hy Image 3.5 Preview as a professional visual-production model rather than a consumer-only image generator. Its documentation says users can combine multiple reference images with text instructions, carry generated images forward into later editing rounds and receive synchronously generated results without submitting separate polling requests.
Arabian Post Staff -Dubai RcrutAI has expanded its Panther real estate intelligence platform into commercial and mixed-use development, adding tools for site analysis, tenant planning, parking demand, pricing and project feasibility. The Cairo-based artificial intelligence company announced the move on September 21, extending a platform that was initially built to support residential development decisions. RcrutAI said the new commercial capabilities are intended to connect decisions that developers […]
Drivers aged 8–17 build real race experience through qualifying, attack, defense and overtaking
HONG KONG / GUANGZHOU, CHINA – Media OutReach Newswire – 21 September 2026 — For a young racing driver, there is far more to learn from a kart race than simply setting the fastest lap. Organised by China Hong Kong Motorsports Centre (CHKMC) with the support of IAME Series Asia and HKAA, the opening round of the HK Youth Karting Championship 2026 was recently completed at Guangzhou Conghua International Circuit.
Over two days of practice, qualifying and competitive racing, young drivers from Hong Kong put their training into action, testing their speed, race craft and decision-making under genuine race conditions.
The championship features two categories — Cadet for drivers aged 8–12 using 60cc karts and Junior for drivers aged 12–17 using 125cc karts — competing on the approximately 1.2-kilometre, 14-corner circuit.
From lap time to real race craft
The weekend began with practice, allowing drivers to refine braking points, racing lines and corner-exit speed with support from coaches and mechanics.
Qualifying then challenged competitors to produce a competitive lap within a limited time on track to secure the best possible starting position.
However, once the racing began, outright speed was only part of the challenge.
With multiple karts fighting for position at the very first corner, drivers had to assess the traffic around them, choose attacking or defensive lines and decide when to overtake or hold position.
Over the two days of racing, the young drivers chased each other through various corners, with moments of side-by-side cornering, defending positions, and looking for overtaking opportunities. For young drivers, managing traffic on the track, race pressure, and split-second decision-making are experiences that are difficult to fully simulate in routine solo practice.
These situations help young drivers develop genuine race craft, which is an important step for a driver to learn, progress and grow in motorsports.
One Make Karting unifies kart and engine specification, putting the focus on the driver
The championship adopts a One Make Karting / Arrive & Drive format, with race karts and competition equipment arranged to a unified specification, together with designated practice and race tyres.
By reducing equipment differences, the format places greater emphasis on driving technique, consistency, decision-making and race strategy.
It also gives young racers stepping into competitive racing for the first time the opportunity to experience a complete race weekend, from practice and qualifying to race starts, on-track battles and post-session analysis.
The value of the first race is not measured by podium positions
In youth motorsport, results are important, but racing experience often has to be built up race by race.
A position gained or lost at the start, choosing the right moment to overtake, or learning how to recover after a mistake can become valuable lessons for the next race.
CHKMC Head Coach Chester Lam said, “Training can teach a driver racing lines, braking points and kart control, but a real race involves other drivers, starts, attack and defense, and pressure. It is a completely different situation.”
“Young drivers need real racing to gradually learn how to read a race. Every time they complete a race, they should be equipped with more experience than they had before.”
Karting has long been one of the first forms of competitive motorsport experienced by many professional racing drivers. CHKMC hopes to create more opportunities for young people in Hong Kong to develop from fundamental training to track driving and, ultimately, real racing.
From Hong Kong to a wider Asian racing stage
The aim of the HK Youth Karting Championship is not for every participant to become a front-running racer immediately, but to provide a platform where young drivers can compete, make mistakes, learn and gradually build their racing experience.
From lining up on the starting grid to attempting an overtake, defending a position or understanding tyres and changing track conditions, every race adds another layer to a young driver’s development.
The championship also connects young racers with the wider Asian karting scene.
Strong performers in the Cadet and Junior categories may have the opportunity to progress towards the IAME Asia Final 2026 in Macau, competing alongside drivers from across the region.
Round 1 complete, attention turns to the next challenge
Following the opening round, drivers and coaching teams started reviewing lap times, racing lines and overall performance as they prepare for the next race.
The HK Youth Karting Championship 2026 will continue with its next round at Guangzhou Conghua International Circuit on 10 – 11 October 2026, giving young racers another opportunity to apply what they learned and continue building valuable race experience.
For a young driver, the chequered flag at the end of one race is not the end of the journey.
South Korea’s central bank began a pilot of a 24-hour won settlement network on Monday, advancing preparations to give overseas investors broader access to the country’s currency market from next year.
The Bank of Korea said the Bank of Korea Won International Wire Network started trial operations at 9am local time with KB Kookmin Bank, Woori Bank, Hana Bank and Shinhan Bank participating. Two of the banks completed transactions worth about 1.4 billion won during the initial test, according to the central bank.
Full operation is scheduled for January 2027, when foreign financial institutions are expected to gain wider access to the network. The system is designed to allow won payments and settlement during the business hours of major overseas financial centres rather than limiting activity to South Korea’s domestic banking day.
Under the planned framework, offshore investors will be able to trade the won with other foreign participants using accounts opened with Registered Foreign Institutions for KRW Business, known as RFI-Ks, in their home markets. This is intended to reduce the need for investors to open and operate separate accounts directly with financial institutions in South Korea.
The network will function continuously from 9am on each business day until 9am the following day, effectively providing round-the-clock settlement on weekdays. It will remain closed on weekends and public holidays. Foreign banks are also due to participate in the trial, although the Bank of Korea has not specified when they will enter the testing phase.
The central bank said it would monitor the pilot, refine operating arrangements and expand participation before the system moves into full service. It expects the new infrastructure to improve foreign investors’ access to won settlement and support wider international use of the currency.
The trial follows South Korea’s move in July to extend onshore dollar-won trading to a 24-hour schedule. That change removed the previous gap between Seoul trading hours and active periods in major centres such as London and New York, allowing transactions to continue through the global trading day.
Authorities have paired the longer trading window with changes to settlement arrangements because extended dealing hours alone do not remove operational barriers if investors cannot complete payments outside domestic banking hours. The new network is intended to address that mismatch by keeping settlement infrastructure available while overseas markets are active.
The initiative forms part of a broader programme to open South Korea’s foreign-exchange market and make local assets easier for global institutions to access. Seoul has also been seeking improvements in market infrastructure as it pursues developed-market classification for its equities from MSCI, whose accessibility assessments examine areas including foreign-exchange convertibility, investment flows and operational arrangements.
South Korea has already introduced the RFI framework to permit eligible overseas financial institutions to participate directly in the domestic foreign-exchange market. The settlement network extends that approach by enabling those institutions to hold and transfer won through designated accounts linked to the central bank’s payment infrastructure.
The Bank of Korea has also been modernising its core settlement systems. Its 2025 payment and settlement systems report, released last week, said operating hours for BOK-Wire+ were extended in March and that work continued on the international won network and the adoption of the ISO 20022 financial messaging standard.
The central bank has said the international network will use real-time gross settlement, a structure in which transactions are settled individually and continuously rather than being netted for later settlement. That approach is intended to limit credit risk during the payment process while supporting cross-border compatibility.
Preparations have included linked-system testing and business-continuity planning before the scheduled commercial launch. The authorities have also revised foreign-exchange regulations to accommodate the wider use of overseas won accounts and settlement channels.
Greenlogue/AP Beam Middle East and Masdar City Free Zone have signed a memorandum of understanding to explore the deployment of smart-energy and clean-mobility technologies across the Masdar City ecosystem in Abu Dhabi. The agreement will allow Beam Middle East to introduce and supply advanced energy systems for potential use within the sustainable urban district, including off-grid electric-vehicle charging infrastructure, solar-integrated e-bike systems and other clean-energy mobility technologies. […]
SINGAPORE – Media OutReach Newswire – 21 September 2026 – Aolani, a Singapore-founded AI Cloud powering AI growth, today announced the signing of a strategic compute collaboration with NVIDIA.
A first of its scale for a Southeast Asian-founded company, the collaboration marks a major milestone that will significantly boost Southeast Asia’s profile in the global AI ecosystem. By combining Aolani’s capabilities and NVIDIA’s technology, the strategic collaboration will unlock financing that will further accelerate and democratise access to AI compute in Asia for global AI natives, sovereigns, and local enterprises and SMEs.
This collaboration brings Aolani’s total AI factory capacity to more than 100 megawatts (MW). 22,000 GPUs are expected to be deployed across two AI factories in Malaysia and the Philippines in early 2027. This will bring Aolani’s total deployment to over 48,000 GPUs.
An NVIDIA Cloud Partner since 2023, Aolani will be deploying NVIDIA Blackwell Ultra GPUs, a leading AI system designed to help organisations build and scale advanced AI workloads today.
Aolani will deliver NVIDIA-powered cloud services to AI-native companies, enterprises, startups, developers and institutions across Southeast Asia. A revenue-sharing and credit-support model will align infrastructure deployment with customer demand, helping broaden access to large-scale accelerated computing while giving Aolani a capital-efficient path to scale its AI factories across the region.
Driving Southeast Asia as a leading global powerhouse for AI innovation
Southeast Asia is one of the most robust AI markets in the world, with AI adoption rates among companies demonstrating stronger momentum than global average[1]. With more than US$50 billion invested by global hyperscalers in AI-ready data centres and cloud infrastructure[2], the region’s growth is driven by its emerging position as a global arena for cloud and AI innovation.
While Malaysia has established itself as one of Asia’s premier AI factory hubs, the Philippines represents a high-potential emerging market for AI infrastructure. Aolani’s deployment in the Philippines is expected to be among the first large-scale AI infrastructure platforms in the country, broadening access to advanced AI compute and supporting the buildout of essential AI infrastructure in Asia.
Nicholas Chia, Chief Executive Officer at Aolani said: “This collaboration with NVIDIA marks a defining moment in Aolani’s mission to deliver world-class AI compute at the speed that matches the pace of AI development, and on infrastructure that is compliant, accountable, and trusted to perform. Southeast Asia is rapidly emerging as a key global node for the next wave of global AI buildout, and we are well-positioned to lead this. We are excited to work with new partners and customers to build the Southeast Asian AI ecosystem and cement the region’s central role in the global AI landscape.”
[1] McKinsey & Company, “AI in Southeast Asia: An Era of Opportunity,” 2024, https://www.mckinsey.com/featured-insights/future-of-asia/ai-in-southeast-asia-an-era-of-opportunity
[2] Singapore Economic Development Board, “AI in Southeast Asia: An Era of Opportunity,” https://www.edb.gov.sg/en/business-insights/market-and-industry-reports/ai-in-southeast-asia-an-era-of-opportunity.html
The issuer is solely responsible for the content of this announcement.
About Aolani
Where AI gets built in Asia. Headquartered in Singapore and founded in 2023, Aolani is backed by compliant and purpose-built infrastructure to deliver the performance capabilities for next-generation AI. Aolani’s AI factories enable organisations to build with confidence, scale ambitiously, and move at hyper-speed in the world’s fastest-growing AI market.
Chancellor Friedrich Merz has pledged to remain in office and press ahead with his government’s reform programme after his Christian Democratic Union suffered its worst result in a German state election, falling below the threshold for parliamentary representation in Mecklenburg-Western Pomerania. Preliminary official results from Sunday’s vote gave the CDU 4.9 per cent of second votes in the northeastern Baltic coast state, leaving it without seats in […]
US President Donald Trump will expand a planned meeting with Gulf officials in New York this week to include Iraq and Jordan, broadening consultations with Arab governments as Washington weighs its next steps in the conflict with Iran. The meeting is expected on Tuesday on the sidelines of the United Nations General Assembly, where leaders and senior officials from the six Gulf Cooperation Council states are due […]
CANNES, FRANCE – Media OutReach Newswire – 21 September 2026 – MIRAVA, the smart boat technology company behind the M800 platform, has concluded its debut at the Cannes Yachting Festival 2026, marking an important step in its European market expansion.
Presented at Port Canto, the M800E attracted strong interest from boat owners, industry professionals, dealers and international media. During the show, MIRAVA received dozens of serious expressions of interest and prospective orders, providing early market feedback on its new approach to smart boating.
The M800 combines intelligent technology with a modular design focused on freedom and versatility on the water. Its intelligent system integrates functions including assisted navigation, automatic docking, position holding and safety features, while a wearable smart band allows users to interact with the boat and enables the vessel to follow them during activities such as swimming, paddleboarding or exploring with the detachable electric tender.
The platform is designed around different ways of enjoying time on the water. Its flip-up stern mechanism transforms the rear area for easier access and greater flexibility, while the bow can be equipped with a removable hammock and shelter, creating a dedicated space for relaxing, socialising or enjoying the surroundings.
The Cannes debut is only the beginning of MIRAVA’s European journey. The company will next present its products and technology at boot Düsseldorf in January 2027, followed by a European sea-trial tour beginning in May 2027 across Netherlands, Germany, Switzerland, Northern Italy, Austria, and Hungary.
The sea-trial program will give prospective customers, dealers and industry partners the opportunity to experience the M800 platform and its intelligent boating system directly on the water.
Hong Kong has laid out a five-year programme to strengthen its established economic pillars while building new growth engines, with a gold-led commodity trading ecosystem among the centrepieces of its strategy through 2030.
Chief Executive John Lee’s 2026 Policy Address and the city’s first Five-Year Plan for Economic and Social Development set out measures covering finance, trade, shipping, aviation, innovation and technology, alongside efforts to attract capital, companies and skilled workers. The government said the programme is designed to reinforce Hong Kong’s international competitiveness and support longer-term economic development.
Gold will serve as the entry point for a broader commodity trading ecosystem. Hong Kong plans to formally launch its central clearing and settlement system for gold in the first quarter of 2027, following trial operations that began in July. The system is intended to support trading that meets international standards and strengthen links among clearing, settlement, storage and physical delivery.
Hong Kong Exchanges and Clearing will announce details this year of new renminbi-denominated, physically settled gold futures contracts. The government also plans to explore tax concessions for qualifying activities across the gold and commodity trading chain, with proposals expected to be put to the Legislative Council for consultation next year.
The Hong Kong Monetary Authority is studying whether the Exchange Fund should moderately increase its gold holdings and participate in local spot and futures markets. Existing physical gold inventories could gradually be transferred to designated vaults appointed by the Hong Kong Precious Metals Central Clearing Company.
Authorities also plan to expand storage and related infrastructure. Since the London Metal Exchange added Hong Kong to its global warehousing network in 2025, approved storage space has exceeded 60,000 square metres and inventories have risen above 20,000 tonnes of metal. More LME-approved warehouses are planned for the Northern Metropolis.
A half-rate tax concession for physical commodity trading is also being pursued to encourage traders to establish or enlarge operations in the city. A joint working group led by the Secretary for Financial Services and the Treasury will examine market opportunities and possible collaboration between exchanges.
The wider financial strategy seeks to strengthen Hong Kong’s role as an offshore renminbi business hub and an international centre for asset management and risk management. The government plans to deepen green and digital finance, widen financing channels for technology companies and strengthen trade finance, supply-chain finance, clearing, settlement and risk-management services.
A proposed Innovation and Technology Industry-Oriented Fund will receive HK$10 billion in government funding and is expected to reach at least HK$40 billion when market capital is included. Priority areas include life and health technology, artificial intelligence and robotics, semiconductors and smart devices, digitalisation, and sustainable development.
The five-year plan also calls for greater emphasis on high-value maritime services rather than relying mainly on traditional port logistics. Measures include reforms to ship registration, support for ship financing and marine insurance, and further development of maritime arbitration and other professional services.
Hong Kong also intends to build a broader aviation industry ecosystem. Plans include developing aircraft-parts processing and trading, participating in research and certification connected with domestically developed aircraft, and expanding sustainable aviation fuel supply chains across the Greater Bay Area. Authorities aim for sustainable aviation fuel to account for 1% to 3% of fuel used by departing flights at Hong Kong International Airport in 2030.
Trade policy will focus on digitalisation, diversification and higher-value supply-chain services. The government wants more companies to use Hong Kong for international orders, foreign-exchange transactions, treasury operations, trade finance and supply-chain management, while attracting regional and international headquarters.
The plan places innovation alongside the traditional pillars, with support directed towards artificial intelligence, robotics, life sciences, microelectronics and advanced manufacturing. It also identifies aerospace technology, marine technology, quantum technology and embodied intelligence as fields for longer-term development.
Arabian Post Staff -Dubai flydubai has partnered with Egnatia Aviation and Skyborne Airline Academy to expand flight instruction for the first cadet batches of its Ab Initio Pilot Training Programme, strengthening a pipeline designed to feed qualified first officers into the Dubai carrier’s growing operation. The two academies will provide practical flight training for selected candidates working towards a Multi-Crew Pilot Licence, or MPL. Cadets completing the […]
By T N Ashok The passage by the US Congress of the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 has confronted India with a problem that is simultaneously diplomatic, economic and strategic. The immediate headline is stark: the legislation creates a statutory pathway allowing President Donald Trump to impose tariffs of up […]
Matein Khalid I never thought a routine telegraphed 0.25% a rate hike at a FOMC conclave would make September 16, 2026 one of the scariest days in my investing career, right up there with September 15, 2008 (the Tuesday Lehman died), September 11, 2001 the day the WTC Feng Shui twin sentinels of Manhattan died or Black Wednesday September 15 1992, when my Magyar idol George Soros […]
A large-scale study of surgical video intelligence has found that models trained to predict motion and structure from specialist operating footage can outperform broader visual systems across multiple surgical understanding tasks, strengthening the case for domain-specific foundations in future robotic assistance. Researchers behind SurgMotion, a video-native foundation model, trained the system on 3,658 hours of surgical video drawn from 50 sources and spanning 13 anatomical regions. The […]
The model supports multimodal inputs including text, images and video, and generates high-fidelity 1080p videos of 5 to 20 seconds with natively synchronized audio
BEIJING, CHINA – Media OutReach Newswire – 17 September 2026 – HiDream.ai, an AI company specializing in foundation models and generative AI, announced the launch of HiDream-O1-Video-1.0, or HiDream V1, its native omnimodal video generation model.
Designed around a deeper understanding of creative intent and real-world physics, HiDream V1 supports multimodal inputs including text, images and video. It can generate high-fidelity 1080p videos ranging from 5 to 20 seconds, with enhanced narrative planning, character consistency, physical plausibility and audiovisual synchronization.
In its debut on two independent international benchmarks, HiDream V1 ranked No. 4 globally on the Artificial Analysis Image to Video Leaderboard (With Audio) and No. 8 on the Arena.ai Image-to-Video leaderboard, placing it among the world’s leading video generation models.
A Strong Debut on Two International AI Benchmarks
Artificial Analysis independently evaluates leading AI models through standardized and reproducible benchmark testing. Arena.ai uses anonymous head-to-head comparisons and user voting to assess model outputs. Together, the two platforms provide third-party perspectives on model performance based on both standardized testing and real-world user preferences.
HiDream V1’s results demonstrate its competitiveness across key dimensions including visual quality, prompt adherence, motion quality, narrative coherence and audiovisual coordination.
The global AI video generation market has become increasingly competitive, with models developed by Chinese teams—including Seedance and MiniMax H3—maintaining strong positions on international leaderboards. HiDream V1’s top-tier debut further expands China’s presence among the world’s leading video generation models.
“The next generation of video models will not be defined solely by higher resolution or longer duration,” said Yao Ting, Chief Technology Officer of HiDream.ai. “What matters is whether a model can genuinely understand a creator’s intent and how objects, actions and sounds interact in the real world. HiDream V1 was designed from the outset to represent text, video and audio within a unified framework. Our goal is to move video generation beyond simply looking sharp and moving smoothly toward understanding instructions, sustaining coherent performances and keeping sound aligned with visuals. Its performance on two independent international benchmarks provides encouraging validation of our native omnimodal approach.”
Upgrades in Visual Fidelity, Narrative Coherence and Character Consistency HiDream V1 introduces broad improvements in high-fidelity rendering, narrative continuity and character consistency. Rather than optimizing only for the quality of individual frames, the model is designed to maintain coherence across an entire video sequence.
Once characters, emotions, motivations and physical rules are placed within a continuous sequence, each element can affect the others. HiDream therefore uses a technical framework built around three stages: planning first, followed by joint generation, and then alignment through multimodal reward signals.
Under this approach, the model first plans the narrative and character states at a global level. It then jointly constrains visuals, movement and semantics during generation, before using multimodal reward signals to align visual quality, continuity and physical plausibility.
Native Omnimodal Architecture for Better Intent and Physics Understanding The central challenge in AI video generation is shifting from the quality of individual frames to a broader understanding of complex instructions, continuous motion and the rules governing the physical world.
User prompts often contain multiple layers of information, including characters, actions, settings, camera directions, dialogue and sound. To handle these requirements more effectively, HiDream V1 incorporates multimodal intent understanding and planning. Before generation begins, the model structures the user’s request across elements such as shot duration, setting, character state, movement, facial expression, composition, camera motion, dialogue and ambient sound.
Through this “understand, plan and generate” workflow, HiDream V1 plans narrative development and character states at a global level, while coordinating visuals, motion, semantics and audio during generation. This is designed to improve content completeness, character consistency and continuity between shots.
Physical reasoning is another core capability of HiDream V1. The model incorporates factors such as gravity, inertia, collisions, deformation, materials, lighting and spatial continuity into the generation process. As a result, object movement, character actions and environmental responses can more closely reflect the behavior of the real world.
This approach moves video generation beyond reproducing visual appearances and toward modeling how a dynamic world operates over time.
Content-Adaptive Video Duration Most current video generation models require users to specify a fixed duration in advance, forcing the content to fit within a predetermined time window. This can lead to unnecessary pauses after an action has ended or the use of slow motion to fill the remaining time.
HiDream V1 instead incorporates duration into its narrative planning process. Within a range of 5 to 20 seconds, the model can determine an appropriate video length based on how an event unfolds, how long an action takes to complete and the pacing required by the content.
The capability is not simply a matter of adding or removing frames. It is designed to make duration serve the narrative, producing more natural pacing and more complete sequences. Users can focus on describing the event and intended outcome, while the model plans the corresponding temporal structure.
Joint Modeling of Text, Video and Audio
Conventional AI video generation systems often follow a staged workflow in which visuals are generated first and sound is added afterward. This can lead to mismatches between lip movements, physical actions, ambient sound and sound effects.
HiDream V1 uses a native omnimodal architecture to jointly model text, video and audio signals. The three modalities constrain and inform one another within a single generation process. Visual motion influences sound timing, dialogue and sound effects contribute to the emotional tone of a scene, and text conditions guide the generation process throughout.
This unified approach is designed to improve synchronization across character performance, environmental changes and physical actions.
During post-training, HiDream uses Diffusion Reinforcement Learning and a multimodal reward model aligned with human perception and aesthetic preferences. Generated content is evaluated across multiple dimensions, including visual quality, semantics, motion, physical plausibility and sound, helping improve overall consistency and realism.
Completing HiDream’s Native Omnimodal World Model Portfolio HiDream V1 is not a standalone model. It is a core component of HiDream’s native omnimodal world model strategy.
Built on a unified UiT, or Unified Transformer, foundation, the company’s portfolio now comprises four major model families:
HiDream-O1-Image, for image understanding and generation;
HiDream-O1-Video, for dynamic content generation and temporal storytelling;
HiDream-O1-World, for 3D environment simulation and real-time interaction; and
HiDream-O1-Embodied, for spatial reasoning, action planning and feedback in embodied AI.
Rather than operating as four separate technology stacks, the models are designed to evolve from the same unified architecture. Together, they cover spatial understanding, temporal modeling, 3D interaction and embodied action, creating an integrated system for perceiving, understanding, generating, interacting with and acting upon the physical world.
HiDream’s models have previously achieved leading results on several independent benchmarks. HiDream-O1-Image 1.5, the commercial version of the company’s image model, ranked No. 2 globally and No. 1 among Chinese models on the Artificial Analysis text-to-image leaderboard, while its open-source edition also reached No. 2. HiDream-O1-World ranked No. 1 overall on WBench, a benchmark for interactive world models. HiDream-O1-Embodied achieved first-place results in the disturbance adaptation and spatial reasoning categories of RoboColiseum.
“We are not building four isolated model product lines,” said Dr. Mei Tao, founder and CEO of HiDream.ai. “We are building a native omnimodal system that shares a unified technical foundation and continues to evolve toward a deeper understanding of the real world. Competition among the next generation of foundation models will depend not only on improvements in individual capabilities, but also on whether different modalities can understand, generate and interact within a unified architecture.”
From understanding and generating the world to simulating and acting within it, the launch of HiDream V1 completes a key part of HiDream’s native omnimodal world model portfolio.
HiDream Completes Series C+ Financing
Alongside the launch of HiDream V1, HiDream announced the completion of a Series C+ financing round backed by New Micro Capital, Jiaozi Capital and ICBC Capital. The proceeds will support native omnimodal model research and development, product iteration, AI computing infrastructure and the expansion of industry applications.
New Micro Capital was jointly established by Shanghai New Micro Technology Group, Shanghai Science and Technology Venture Capital Group and its management team. The firm manages nearly RMB 10 billion in assets.
As the corporate venture capital arm of New Micro Technology Group, New Micro Capital is expanding its investments in artificial intelligence. Drawing on the group’s industrial capabilities in specialty integrated-circuit manufacturing, it seeks to advance collaboration across AI infrastructure, model technologies and end-user applications.
Jiaozi Capital is a wholly owned state-backed equity investment platform under Chengdu Jiaozi Financial Holding Group. The firm focuses on artificial intelligence and other strategic technology sectors, using long-term capital and industrial resources to accelerate technology commercialization and ecosystem development.
With the launch of HiDream V1, HiDream’s native omnimodal world model strategy is moving from a technical roadmap toward an integrated system supported by a unified foundation, a coordinated model portfolio and deployable product capabilities.
Availability
HiDream V1 is currently in internal testing and is expected to become available in the near future. Users can learn more at: https://hiharness.ai/
Hashtag: #HiDreamAI
The issuer is solely responsible for the content of this announcement.
About HiDream.ai
HiDream.ai is an artificial intelligence company focused on generative AI and native omnimodal world models. Built on its unified UiT architecture, the company’s model portfolio spans image generation, video generation, interactive world simulation and embodied intelligence. HiDream aims to develop AI systems capable of understanding, generating, simulating and acting upon the real world.
Leaderboard disclaimer: Rankings cited in this release reflect publicly available results at the time of publication and may change as participating models, evaluation data or platform methodologies are updated.
Arabian Post Staff -Dubai International visitor spending in the Middle East is forecast to rise by US$116 billion, or 57%, between 2025 and 2030, signalling a sharp expansion in tourism revenues despite near-term geopolitical disruption. The projection comes from the ATM Travel Trends Report 2026, produced by Arabian Travel Market with Tourism Economics, an Oxford Economics company, and presented at Arabian Travel Market in Dubai. The report […]
Huawei Technologies has laid out plans to launch two new artificial intelligence processors in 2027, strengthening its push to supply the computing power China needs as US export controls restrict access to Nvidia’s most advanced chips.
Rotating chairman David Wang said at Huawei Connect 2026 in Shanghai on Thursday that the company plans to release the 960DT in the first quarter of 2027 and the Ascend 960PR in the third quarter. The roadmap places Huawei’s next generation of accelerators at the centre of its effort to build domestic alternatives for training and running increasingly demanding AI models.
Huawei also unveiled the Ascend 960 SuperPoD and an upgraded version of its UnifiedBus interconnect technology, designed to link large numbers of processors so they can function as one computing system. The company said a combination of UnifiedBus and its Hi-ONE optical system could connect as many as 4,000 processors within a SuperPoD, extending high-speed optical links deeper into the machine.
The strategy reflects a broader shift towards system-level performance rather than relying solely on the capability of individual chips. Advanced AI workloads require thousands of processors to exchange data rapidly, making networking bandwidth, memory access and cluster efficiency increasingly important alongside raw chip performance.
Wang said Huawei has developed 11 semiconductors based on UnifiedBus technology for use across its large computing systems. Its biggest planned superclusters will be able to support up to one million AI processors, he said, while the company has already shipped more than 1,000 smaller supernodes to more than 370 customers.
Huawei did not identify those customers or give a detailed breakdown of shipments. It also did not provide independently verified benchmarks directly comparing the new 960-series chips with Nvidia’s leading accelerators, leaving questions over single-chip performance, software compatibility and manufacturing scale.
The company had previously said the Ascend 960 would offer twice the computing power, memory capacity, memory bandwidth and interconnect ports of the Ascend 950 generation. Huawei has also been developing the Atlas 960 SuperPoD and SuperCluster, with the larger system intended to combine more than one million neural processing units when it reaches the market.
Huawei’s current product roadmap also includes the Ascend 950DT, due in the fourth quarter of 2026. The company has said that processor will use its HiZQ 2.0 high-bandwidth memory, providing 144 GB of capacity and 4 terabytes per second of bandwidth. Those specifications are intended to support both model training and the decode stage of inference workloads.
US restrictions have limited China’s access to cutting-edge Nvidia processors and advanced semiconductor manufacturing equipment, giving domestic suppliers greater room to expand. Huawei has emerged as the most prominent of those suppliers, but Nvidia retains a major advantage through its CUDA software ecosystem and a broad global developer base.
Chinese AI developers have increasingly turned to domestic accelerators for inference, where trained models generate responses, even as many frontier laboratories continue to depend on Nvidia hardware for the most demanding training jobs. That split has made Huawei’s ability to improve both hardware and software a critical test of whether China can reduce its dependence on foreign computing infrastructure.
Huawei is also contending with shortages of high-bandwidth memory, a key component in AI accelerators. The company has designed memory for some newer Ascend products, but supply constraints across the industry have increased costs and complicated efforts to scale production quickly enough to meet demand.
The group is seeking to offset those limitations through architectural changes, advanced packaging, optical networking and tighter integration between chips, systems and software. Its SuperPoD approach is intended to compensate for weaker performance from individual processors by allowing much larger numbers of chips to work together with lower latency.
BERLIN, GERMANY – Media OutReach Newswire – 17 September 2026 – At IFA 2026, Midea’s Fabric and Floor Care division presented its latest innovations in laundry and floor-cleaning technologies themed at “Zoned Care, Omni Clean”.
With the Omni Trio washing machine and AT8 Ultra wet-and-dry floor cleaner as key highlights, the showcase addressed a wide range of everyday home-care challenges, including separate laundry care, noise and vibration reduction, stubborn stain removal and the cleaning of tangled hair from floors.
During the exhibition, the products drew attention from German technology and smart-home media and also received recognition from industry bodies. The showcase innovations were honoured with the YD Best Design Award, while the Omni Trio received VDE A-10% low-noise certification, highlighting Midea’s continued strengths in both industrial design and product engineering.
Two Products, One Home-Care Direction
The Omni Trio brings a different approach to laundry separation. Its three independently operated drums—a 10 kg main drum and two 0.5 kg smaller drums—allow different loads to be washed separately at the same time. Everyday clothing, baby garments, socks and underwear can be handled without waiting for one cycle to finish before starting another.
Independent water inlets and Auto Dose systems, Foam & Flow DualSpray technology and low-noise performance support the same objective: making categorized laundry care easier to integrate into daily routines.
For floor care, the AT8 Ultra addresses another set of frequent cleaning tasks. Its technologies include Easy Foam cleaning, 60°C hot water on demand, a mechanical arm for improved water pickup, anti-tangle technology, and automated roller cleaning and drying. Each targets a practical issue, whether it is a stubborn stain, residual water or hair wrapped around the roller.
Together, Omni Trio and AT8 Ultra demonstrate how “Zoned Care, Omni Clean” extends beyond individual product features. Different cleaning tasks call for different solutions, and Midea FFC is applying its experience across laundry care and floor cleaning to address these needs with greater precision.
From European Needs to Global Development
IFA 2026 also provided Midea with an opportunity to observe how these innovations respond to expectations in the European market, where quieter operation, efficiency, flexibility and ease of use remain key considerations for home appliances.
These local insights also contribute into Midea FFC’s global product development. Learnings from different markets help shape technologies that can be adapted to diverse homes, daily routines and cleaning habits.
For the home-care category, the next stage of innovation is not simply adding more functions. It is about enabling appliances to better understand and handling specific household tasks, with greater automation and less effort from the user. For Midea FFC, the response at IFA 2026 offers a valuable reference point as the company continues to develop home-care technologies for markets around the world.
Hashtag: #Midea #OmniTrio #AT8Ultra
The issuer is solely responsible for the content of this announcement.
ABOUT MIDEA & MIDEA GROUP
Midea is a global technology company specializing in smart home appliances, climate solutions and floor-care technologies, with a focus on user-centric design, energy efficiency and sustainable innovation.
Publicly listed Bitcoin miners fell below cash breakeven as a group in the second quarter, with their weighted average pre-tax production cost reaching about $75,500 per coin against Bitcoin’s quarter-end price of $58,400. The gap of roughly $17,100, or 29%, marked a sharp deterioration in industry economics during the three months to June, according to a new sector review by digital-asset investment group CoinShares. The report said […]
A member of the National Traders’ Welfare Board has urged the Centre to withdraw the new merchant discount rate on higher-value UPI payments, warning that the levy could impede business growth and increase costs for consumers.
Ramesh Khandelwal, who represents Madhya Pradesh on the government-constituted board, said on Wednesday that the 0.4 per cent merchant discount rate, or MDR, on UPI transactions above Rs 2,000 was at odds with the government’s stated emphasis on ease of doing business. The charge is due to take effect on October 15.
Khandelwal said he would raise the issue at the next meeting of the National Traders’ Welfare Board and sought an immediate rollback in the wider interests of merchants and customers. He argued that businesses operating on thin margins could struggle to absorb the additional transaction cost and that some of the burden might ultimately feed into retail prices.
The National Payments Corporation of India has said the revised framework will apply to specified person-to-merchant UPI payments above Rs 2,000. The fee will be borne by merchants rather than consumers and will be capped at Rs 300 for transactions of Rs 75,000 or more.
Person-to-person transfers, including payments between friends and family, will remain free. Merchant transactions up to Rs 2,000 will also continue without MDR, while small merchants receiving up to Rs 1 lakh a month through UPI QR payments are exempt under the framework.
Specified categories including railway tickets, fuel, agriculture, utilities, telecom, insurance, credit-card dues and tax payments will attract a lower flat charge of Rs 5 on eligible transactions above Rs 2,000. The government has also advised banks to ensure that merchants do not directly pass the MDR on to customers.
The opposition from Khandelwal adds to broader concern among traders over the return of merchant charges to UPI after more than six years of a zero-MDR regime. A nationwide LocalCircles survey of more than 32,000 merchants and businesses across 242 districts found that only 17 per cent of respondents were willing to bear a 0.4 per cent MDR on payments above Rs 2,000, while 41 per cent said they were unwilling to pay any such fee.
Merchants have raised particular concerns about sectors where high-value digital payments are common but margins are comparatively narrow. Textile traders in Surat, for example, said the levy could affect smaller businesses and workers who use UPI extensively for salaries, purchases and other routine transactions.
The policy change also marks a significant shift in the economics of the UPI ecosystem. Banks, payment applications and payment aggregators have long argued that the rapid expansion of transaction volumes requires greater spending on infrastructure, fraud prevention, cyber security and system capacity. The new MDR is intended to create a revenue stream to support those costs while keeping small-value and personal transfers outside the charging structure.
UPI has become the dominant retail digital payment system, with billions of transactions processed every month. That scale has increased the cost of maintaining the network even as users have become accustomed to making payments without a visible transaction fee.
The government’s approach seeks to confine the charge to larger commercial payments and to limit the exposure of small merchants and customers. Under the announced structure, a Rs 5,000 eligible merchant payment would carry an MDR of Rs 20, while a Rs 50,000 payment would cost the merchant Rs 200. Payments of Rs 75,000 and above would face the Rs 300 ceiling.
Khandelwal’s intervention puts the focus on whether traders will accept those costs or seek alternatives such as cash, bank transfers or other payment methods. His position is that even a small percentage charge, when repeated across large transaction volumes, can become a meaningful operating expense.
The dispute is likely to centre on merchant margins, enforcement and whether businesses can absorb the levy without changing prices or payment preferences. Traders also want clarity on how exemptions will be identified at the point of payment, particularly where a business accepts UPI through multiple bank accounts, QR codes or payment service providers across different locations.
HONG KONG SAR – Media OutReach Newswire – 16 September 2026 – Hong Kong’s Chief Executive, John Lee, today (September 16) announced his fifth Policy Address, putting forward a series of measures to create development opportunities and enhance the well-being of the people.
“This year marks the opening year of the National 15th Five-Year Plan. In the thick of accelerating global changes not seen in a century, the vibrant momentum driven by our country’s robust strength, enormous market and high-quality development presents Hong Kong with boundless opportunities. We will better develop our economy and boost social well-being, starting a bright new chapter for Hong Kong,” Mr Lee said.
Entitled “A Strategic Vision for a Bright New Era, Driving Reform and Boosting Development, Unleashing Opportunities and Enhancing Livelihood”, the Policy Address takes the First Five-Year Plan for Economic and Social Development of the Hong Kong Special Administrative Region (2026-2030) (Hong Kong’s First Five-Year Plan) as its blueprint, and proposes numerous key measures focusing on five major development opportunities to advance high-quality development.
To attract and retain high-calibre talent, the Hong Kong Special Administrative Region (HKSAR) Government will expedite the development of the Northern Metropolis University Town to strengthen the city’s position as an international education hub. The HKSAR Government will also increase the research postgraduate places by around 30 per cent and the quota for government scholarships by 200, and establish five new major academies for training international talent: the International Clinical Trial Academy, Maritime Academy, Hong Kong International Legal Talents Training Academy, Hong Kong Intellectual Property Academy and Hong Kong International Academy of Policing.
To promote industry development, the Policy Address proposes to accelerate development of an international gold trading market and to explore a proposal to provide tax concessions for qualifying activities within the gold and commodity trading ecosystem. The HKSAR Government will also announce details of the new Renminbi-denominated and physically settled gold futures contracts; explore the possibility of increasing the Exchange Fund’s gold holdings, and gradually transfer its physical gold holdings to designated vaults appointed by the Hong Kong Precious Metals Central Clearing Company Limited.
A number of policies are proposed to promote industry development, including introducing specialty insurance (e.g. commodity, commercial aerospace, etc.); injecting funding into the Artificial Intelligence Subsidy Scheme to support the development of the intelligent computing industry; accelerating the adoption of medical innovation and industry chain development to enable the public to benefit from better and newer drugs; and fostering a new economic landscape for the low-altitude and emerging industries, such as commercial aerospace.
The Government is developing six special industry parks, including the Loop Hong Kong Park, San Tin Technopole, Hung Shui Kiu Industry Park, Sandy Ridge Data Facility Cluster and Hung Shui Kiu/Ha Tsuen modern logistics cluster. Land is also earmarked for building an advanced construction industry park to increase investment opportunities for enterprises.
To attract enterprises to establish a foothold in Hong Kong, tax concessions will be granted on the basis of the value brought by enterprises, instead of solely considering the industry sector. The Government will introduce an amendment bill this year, providing preferential tax rates of 5 per cent, or half-rate, for selected enterprises operating in key sectors such as finance, advanced manufacturing, innovation and technology, as well as research and development, headquarters activities and logistics and supply chain management.
The HKSAR Government will fully support the work of the International Organization for Mediation headquartered in Hong Kong, and build a global capital of mediation. It will also drive the establishment of the International Institute for the Unification of Private Law in Hong Kong, support the Judiciary to advance the development of the International Commercial Court, and establish the “Strategy Committee on Intellectual Property Trading Development” to assist the Government in formulating strategies and support measures for the promotion of intellectual property trading.
Regarding international co-operation, two United Nations (UN) organisations, the centre of excellence on global advanced manufacturing and the Office on Drugs and Crime’s GlobE Network Asia Pacific Regional Bureau, will establish their presence in Hong Kong respectively. Elsewhere, the new WestK Performing Arts Centre, scheduled to open next year, will feature four performance venues built to the highest international theatre standards, while Asian and international sports associations will be encouraged to establish a presence in Hong Kong.
“Today, Hong Kong is at a critical juncture in advancing from stability to prosperity. We are fully aware that formulating a comprehensive, strategic roadmap is integral to our long-term development. The Government has been persistent in mapping our way by driving development through reform. The primary goal of our policies is to enable economic development that can benefit the people of Hong Kong, and meet their aspirations for a better life,” Mr Lee said.
Response by KK Chiu, International Director, Chief Executive, Greater China, Cushman & Wakefield:
Optimising the Housing Ladder and Improving Living Conditions
We welcome the Government’s commitment to increase housing supply, shorten the Composite Waiting Time for public rental housing and further strengthen the housing ladder. The adoption of a long-term housing supply framework comprising 40% public rental housing, 30% subsidised sale housing and 30% private housing, together with the delivery of approximately 196,000 public housing units over the next five years, will provide a clearer housing and homeownership pathway for different income groups.
We believe that increasing the supply of subsidised sale housing and enhancing the housing ladder will help more public housing tenants progress towards homeownership, accelerate housing mobility and enable families with genuine housing needs to gain access to public housing more quickly.
We support the Government’s efforts to increase public housing supply, continue the Light Public Housing programme and implement the Basic Housing Units regime in an orderly manner to phase out substandard subdivided units. This approach is consistent with our long-held view that increasing housing supply is the fundamental solution to improving inadequate housing conditions. With the Government targeting the resolution of substandard subdivided units in domestic buildings by 2030, we expect living conditions for grassroots households to improve progressively.
Urban Renewal Incentives
We support the Government’s more flexible approach to urban renewal, including transferable plot ratio arrangements and measures to unlock redevelopment potential. These initiatives will help enhance market participation, accelerate renewal in areas with pressing redevelopment needs and contribute to overall housing supply growth. We recommend the Government provide clearer guidance on application requirements and further streamline cross-departmental approval procedures to facilitate implementation.
Advancing the Yacht Economy
We welcome the Government’s continued efforts to promote the yacht economy. Beyond increasing marina berth supply and enhancing supporting infrastructure, we believe it is equally important to further facilitate cross-boundary initiatives, allowing greater mobility of yachts within the Greater Bay Area and fostering regional collaboration.
As more superyachts and high-net-worth visitors arrive in Hong Kong, demand is expected to rise across luxury tourism, hospitality, food and beverage, retail, marine services and waterfront commercial facilities, helping unlock the economic potential of Hong Kong’s coastline and island resources. At the same time, Hong Kong has the potential to develop a more comprehensive marine industry ecosystem encompassing yacht repair and maintenance, refitting services and specialised professional services. The development of a holistic marine services value chain will further strengthen Hong Kong’s competitiveness as a regional and international yachting hub.
Response by John Siu, Managing Director, Hong Kong, Cushman & Wakefield:
Planning Ahead for AI and Data Centre Infrastructure
We welcome the Government’s commitment to accelerate the development of the Sandy Ridge Data Facility Cluster, which is expected to provide computing power equivalent to 36 times Hong Kong’s current capacity by 2032, alongside a HK$1 billion injection into the Artificial Intelligence Subsidy Scheme. These initiatives will provide important support for the development of Hong Kong’s artificial intelligence and data centre sectors, further strengthening the city’s position as a regional digital and innovation hub.
However, with rapid advancements in artificial intelligence, large language models and cloud computing, demand for computing power is expected to grow significantly in the coming years. We believe that, in addition to planning data centre sites, the Government should proactively review long-term requirements for power supply, electricity grid capacity and related infrastructure. As AI adoption becomes more widespread, access to reliable power and supporting infrastructure will be a key factor in maintaining Hong Kong’s competitiveness as a technology and data centre hub.
We support the Government’s stated direction of pursuing “high-efficiency computing power, stable electricity supply and low-carbon transition”. Looking ahead, we recommend that the Government regularly review future demand for land, power supply and supporting infrastructure arising from the growth of artificial intelligence and data centre activities, particularly within the Northern Metropolis and other strategic development areas. A coordinated approach to computing, energy and digital infrastructure planning will help attract more data centre operators and technology companies to Hong Kong, while supporting the city’s long-term development as a regional hub for data and artificial intelligence.
Response to the Budget 2026/2027 by Rosanna Tang,Deputy Managing Director, Head of Research, Hong Kong, Cushman & Wakefield:
Clear Industry Positioning for the University Towns
We welcome the Government’s efforts under Hong Kong’s First Five-Year Plan to further define the positioning of the three university towns in the Northern Metropolis University Town, and are encouraged by its strategy to promote synergy among the university towns, the San Tin Technopole and surrounding industry parks. As the only city in the world with five universities ranked among the global top 100, Hong Kong possesses a strong foundation in higher education and research. At the same time, the San Tin Technopole is set to become a key innovation and technology hub. The complementary strengths of these two pillars, both geographically and strategically, provide a solid foundation for building a globally competitive innovation ecosystem in Hong Kong.
We are particularly encouraged by the Government’s emphasis on integrated industry-academia-research collaboration. The university towns should not be viewed merely as educational developments, but as strategic platforms for research commercialisation, international talent attraction and the cultivation of emerging industries. Closer collaboration among universities, research institutes, innovation and technology enterprises and industry parks will help establish a complete innovation value chain covering talent development, scientific research, technology transfer and industrial implementation.
In addition, the Plan proposes approximately 300 hectares of educational facilities as the core of the university towns, connected with adjacent strategic industry areas, distinctive conservation areas, sports and cultural facilities, and surrounding communities, bringing the overall development footprint to more than 1,000 hectares. Such a large-scale integrated education and industry development model is rare in Hong Kong’s urban planning history and clearly demonstrates the Government’s long-term vision of creating a knowledge-based city cluster and an international education hub in the Northern Metropolis.
Attracting Signature Industry Projects and Anchor Institutions to Enhance the Northern Metropolis’ Global Appeal
We welcome the Government’s efforts to establish differentiated industry positioning through the three university towns, while integrating key development nodes such as the San Tin Technopole, the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, the Hung Shui Kiu Industry Park and Ta Kwu Ling. This provides a clearer direction for industrial development in the Northern Metropolis and helps address long-standing market concerns regarding overlapping functions and unclear district positioning.
As highlighted in our previous research, we believe the next critical stage for the Northern Metropolis will be its ability to attract influential anchor institutions and leading enterprises. By bringing together universities, research institutes and industry leaders, Hong Kong can foster the clustering of businesses, talent and capital, gradually forming industry clusters with scale and international competitiveness. Hong Kong should also capitalise on its common law system, international financial centre status, intellectual property protection framework and global talent network by focusing on high value-added segments such as research and testing, intellectual property management, fundraising and listing activities, and international accreditation services. This will help Hong Kong establish an irreplaceable role within the Greater Bay Area industrial value chain.
Beyond strategic industries, we believe the Northern Metropolis could also explore internationally recognised and iconic industry projects to further enhance its global profile and attractiveness. For example, the Government may consider developing initiatives around new energy vehicles, smart mobility and advanced technologies, while exploring the feasibility of internationally recognised racing events, testing facilities or technology R&D platforms, such as those associated with Formula One. By leveraging motorsport-related economic activities and innovation-led development, Hong Kong could attract international automotive manufacturers, mobility technology companies and research institutions to establish regional headquarters, R&D centres or testing facilities in the city. This would in turn support the growth of engineering, intelligent transport, advanced manufacturing, tourism, hospitality, retail and convention and exhibition industries, further enriching the Northern Metropolis industrial ecosystem.
Accelerating Land Supply While Advancing Industries and Infrastructure in Parallel
We note that Hong Kong’s First Five-Year Plan proposes a significant acceleration in land and housing supply within the Northern Metropolis. Residential completions are expected to increase substantially from approximately 11,000 units during 2021/22 to 2025/26 to around 70,000 units during 2026/27 to 2030/31. Over the same period, the supply of “spade-ready sites” will rise from approximately 120 hectares to around 900 hectares, representing an increase of around 7.5 times. These figures demonstrate that the Northern Metropolis is transitioning from a planning and land formation phase to a new stage characterised by large-scale development, industrial implementation and population intake.
However, we believe the success of the Northern Metropolis should not be measured solely by the volume of land or housing delivered. As substantial residential, innovation and technology, and industrial sites come on stream, the focus should gradually shift from land supply to city-building. The Government should ensure the coordinated delivery of railway and cross-boundary infrastructure networks, industry parks, commercial facilities, public services and community amenities, while accelerating the introduction of leading enterprises and strategic industries to create sufficient, high-quality employment opportunities and achieve a genuine jobs-housing balance.
In particular, we believe the Northern Metropolis should be driven by industry-led development, with the San Tin Technopole, the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, the university towns and major industry parks serving as key growth engines. This would create a virtuous cycle in which industry attracts population, population supports consumption, and consumption drives urban development. Only through the coordinated growth of industry, talent, infrastructure and communities can the Northern Metropolis evolve from a large-scale land development project into a modern metropolitan district integrating industry, education, living and international exchange.
Response by Tom Ko, Executive Director, Head of Capital Markets, Hong Kong of Cushman & Wakefield:
New Opportunities for Student Accommodation Market
We welcome the Government’s initiatives to deepen Hong Kong’s development as an international hub for post-secondary education through the “Hong Kong: Your World-class Campus” campaign, expanded global student recruitment efforts and the extension of the Immigration Arrangements for Non-local Graduates pilot arrangement to graduates from Greater Bay Area campuses of Hong Kong universities. These initiatives will further enhance Hong Kong’s attractiveness to overseas students and talent while reinforcing the “Study in Hong Kong” brand.
We are encouraged by the continued progress of the Hostels in the City Scheme. The scheme has already received 41 confirmed applications, providing approximately 10,800 bed spaces and demonstrating strong market confidence in the long-term growth of Hong Kong’s education sector.
The scheme has opened up a new supply channel for converting commercial buildings into student accommodation. At a time when hotel conversion opportunities are becoming more limited as tourism continues to recover, it provides an alternative pathway for investors while helping unlock the value of underutilised commercial assets and meet rising demand for student housing. As the Government prepares to tender the first dedicated student hostel site, we believe purpose-built student accommodation will gradually emerge as a distinct and scalable asset class within Hong Kong’s real estate market.
To further increase supply, we recommend that the Government continue reviewing and refining approval procedures for student hostel conversions. Greater flexibility and streamlined processes, while maintaining appropriate safety and operating standards, would encourage wider market participation and support Hong Kong’s ambition to become a leading international education destination.
The issuer is solely responsible for the content of this announcement.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for occupiers and investors with approximately 53,000 employees in over 350 offices and nearly 60 countries. In Greater China, a network of 23 offices serves local markets across the region. In 2025, the firm reported revenue of $10.3 billion across its core services of Valuation, Consulting, Project & Development Services, Capital Markets, Project & Occupier Services, Industrial & Logistics, Retail, and others. Built around the belief that Better never settles, the firm receives numerous industry and business accolades for its award-winning culture. For additional information, visit www.cushmanwakefield.com.hk or follow us on LinkedIn (www.linkedin.com/company/cushman-&-wakefield-greater-china).
South Korea will not slow its artificial intelligence drive, Deputy Prime Minister and Science and ICT Minister Bae Kyung-hoon said on Wednesday, arguing that the country must pair rapid development with stronger safeguards rather than curb the technology’s advance.
Bae said South Korea was still trying to close the gap with leading AI powers while creating new markets, making its position different from countries or companies at the technological frontier. “We cannot afford to slow down AI right now,” he wrote on social media, describing the government’s approach as one of “speed responsibility” rather than speed control.
His remarks place Seoul firmly on the acceleration side of a widening debate over whether developers should moderate the pace of capable AI systems. Anthropic chief executive Dario Amodei has called for a slowdown in frontier model development to allow more time for safety work, while OpenAI chief executive Sam Altman and other technology leaders have voiced support for stronger precautions as capabilities advance.
Bae said South Korea should continue expanding research, industrial adoption and home-grown model development while strengthening protections against deepfakes, cyber threats and privacy violations. Faster progress, he said, required safety and trust measures to move at the same pace rather than follow after deployment.
The minister pointed to a broader technology agenda that includes sovereign foundation models, systems capable of processing vision and language, and models able to interact with physical environments. He said the country also needed to prepare for AI becoming deeply embedded across industries and everyday life.
The government has made domestic foundation-model development a central part of its ambition to place South Korea among the world’s top three AI powers. The Ministry of Science and ICT has been running a sovereign AI foundation model programme intended to improve domestic capabilities and reduce dependence on foreign technology.
Three teams led by Upstage, SK Telecom and LG AI Research advanced after the programme’s second-stage evaluation this year. The ministry has said models developed under the initiative were built with comparatively limited resources but were released as open source as part of an effort to expand the domestic AI ecosystem.
Bae indicated that further details on the next phase of the foundation-model programme would be announced after ongoing reviews. His comments also referenced government work on security-focused AI models and frontier systems, alongside an “AI for All” initiative intended to spread adoption across the economy.
The policy push is being developed alongside South Korea’s AI Basic Act, which establishes rules covering both the development of artificial intelligence and the creation of a framework for trust. The law’s stated purpose includes protecting rights and human dignity while supporting quality of life and national competitiveness.
That legal structure gives Seoul a basis for pursuing faster adoption without presenting safety as a separate objective. Bae said competitiveness and sustainability were linked, arguing that development speed and safeguards should advance together.
The global dispute has intensified as leading executives and policymakers weigh the economic benefits of faster AI deployment against concerns over misuse and loss of control. Amodei has proposed independent safety evaluators, coordination among major laboratories and greater international cooperation, while Nvidia chief executive Jensen Huang has argued against slowing technological progress and favours advancing safety alongside innovation.
European Commission President Ursula von der Leyen on Wednesday backed calls for greater caution and said frontier AI laboratories would be invited for talks on managing risks. Meta chief executive Mark Zuckerberg, by contrast, said AI companies already had strong incentives to build systems safely and did not require an industry-wide slowdown.
Bae’s intervention highlights the competitive pressures facing countries outside the United States and China, where most frontier AI investment and model development remains concentrated. South Korea has strong semiconductor and technology industries, but its government has acknowledged the need to strengthen domestic models, computing capacity and commercial adoption to narrow the gap.
Monaco is poised to leave the Financial Action Task Force’s grey list next month after completing an on-site review of reforms aimed at strengthening controls against money laundering and terrorist financing, with Bulgaria and Côte d’Ivoire also moving towards removal. The Paris-based watchdog is expected to consider the three jurisdictions at its plenary meeting from October 26 to 30, after determining in June that each had substantially […]
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