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The ranking places Alibaba Cloud among the region’s most advanced providers of agentic AI infrastructure and development platforms. The company achieved the highest scores across six of nine evaluation dimensions, with its full-stack agentic AI approach highlighted as a key differentiator. That framework spans infrastructure, foundation models, model services, enterprise development tools and deployment systems designed to help companies build AI agents capable of planning, reasoning and executing tasks across business workflows.

The recognition comes as agentic AI shifts from experimental pilots to enterprise adoption. The Asia and Oceania market for agentic AI software is projected to grow from $782 million in 2025 to $11.2 billion by 2030, implying a compound annual growth rate of about 94 per cent. The surge reflects demand from banks, retailers, logistics companies, manufacturers and public-sector organisations seeking systems that can automate multi-step work rather than merely generate text, code or images.

Alibaba Cloud’s pitch rests on a vertically integrated stack. Its Qwen foundation models underpin a growing range of cloud services, while Model Studio gives developers access to Qwen-Max, Qwen-Plus, Qwen-Turbo, Qwen-VL, Wan and other model families. The company has also been expanding Platform for AI, Lingjun infrastructure and agent-building toolkits intended to make AI deployment easier for enterprises that lack large in-house research teams.

The company’s Singapore push has become central to its international AI strategy. At its first international Qwen Conference in Singapore in May, Alibaba Cloud introduced Qwen3.7-Max through Model Studio in the Singapore region, unveiled Qwen Cloud as an AI-native platform, and launched agent products aimed at helping companies build and manage autonomous systems. The Skills portal converts capabilities across more than 60 cloud products into agent-callable functions, allowing AI agents to interact with databases, security tools, big-data services and operations systems.

Alibaba Cloud’s commercial momentum has also improved. Cloud Intelligence Group revenue rose 38 per cent year on year to RMB41.63 billion in the January-March quarter, while external cloud revenue grew 40 per cent. AI-related products accounted for about 30 per cent of external cloud revenue and delivered triple-digit growth for the eleventh consecutive quarter. Annualised AI-related product revenue surpassed RMB35.8 billion, indicating that enterprise demand has moved beyond proof-of-concept budgets.

The company is investing heavily to defend that position. Alibaba has indicated that spending on AI and cloud infrastructure will exceed its earlier three-year plan of up to RMB380 billion, as executives prioritise market share and capacity expansion over near-term margins. That strategy carries risks. The group’s earnings have been pressured by high capital expenditure, competition in commerce and infrastructure costs linked to advanced computing demand.

The broader market remains intensely contested. Regional and global cloud providers are building agentic AI platforms that combine foundation models, orchestration layers, retrieval systems, governance tools and specialised compute. Amazon Web Services, Microsoft Azure, Google Cloud, Huawei Cloud, Tencent Cloud and Baidu AI Cloud are all competing for enterprise workloads tied to automation, coding agents, customer-service agents and industry-specific decision systems.

Alibaba Cloud’s advantage in Asia rests partly on its ability to link AI models with commerce, logistics, finance, cloud and developer ecosystems. Its Qwen family has gained traction among developers because of open-source releases and multilingual capabilities, while its enterprise services are being positioned for customers that need lower latency, data-residency options and region-specific compliance controls. The company also benefits from its leadership in Asia-Pacific infrastructure-as-a-service revenue, where it held a 22.5 per cent regional share in 2025.

The agentic AI market, however, faces unresolved issues around reliability, accountability and security. Autonomous agents can call tools, access corporate data and act across software systems, raising concerns over permission controls, audit trails, hallucinated actions and exposure of sensitive information. Enterprise buyers are increasingly looking for guardrails, monitoring, role-based access and human approval mechanisms before allowing agents to handle financial, legal or operational decisions.

Spacebiz in Hong Kong – a golden opportunity for Professional Services and STEM

HONG KONG SAR – Media OutReach Newswire – 29 June 2026 – Space Economy Association (Hong Kong) Ltd, or “SEA”, officially formed in the midst of the space economy boom. It is an independent membership-based non-government organisation dedicated to connecting and facilitating space-related industries, businesses, investors, educators, experts, and governments worldwide in their pursuit for businesses and technology in commercial space. SEA helps establish Hong Kong as a super-connector hub in the international space ecosystem by capitalising on our professional services, led by finance.

The new renaissance is in the space economy. The US$630 billion global space economy is set to triple to US$1.8 trillion^[1] by 2035. With launch costs dropping 10-fold in the last 20 years, private and public sectors will soar with all humanity set to benefit. Space economy is ubiquitous and creating value beyond rocketry and satellites, everyone will flourish as the space economy grows 9% per annum. China is the world’s second largest player in space, highlighting it as one of the four emerging strategic industries in its 15th National Five-Year Plan. Its commercial space sector has already launched 81 rockets and 336 satellites into orbit, with over 100 space start-ups and companies raising around US$6.5 billion. Hong Kong, as a key international financial centre practicing Common Law with international arbitration system and robust insurance, data and intellectual property protection capabilities, uniquely stands to serve China and other countries to pursue capital, business, technology and talent in commercial space.

“From Hong Kong’s perspective, the NewSpace economy is not simply about rockets or satellites; it is about the commercial possibilities they create for our professional services community. As the nation advances its aerospace ambitions, Hong Kong’s strengths in finance, insurance, law and related fields equip the city to support activities ranging from project financing and initial public offerings to risk management and crossborder transactions. Our bankers, insurers, accountants and lawyers are ideally positioned to help turn space initiatives into viable enterprises — and to participate directly in the value they generate.” said the Honourable Bernard Charnwut Chan, GBM, GBS, JP. Patron of SEA.

“Hong Kong’s top-class professional services would facilitate the processes from research and innovation to startup, scale-up and successful space business. Besides a hub for IPOs, Hong Kong offers funding from seed and angel, to private equity, venture capital, mergers and acquisitions, in debt, equity, and lease financing. This space economy would contribute plentiful job and business opportunities to become a key pillar of Hong Kong in terms of economy and quality opportunities for our young generation,” said Professor Richard Leung, Chairman of SEA. “SEA’s global network of partners grows beyond Asia, North America and Europe to include the UNOOSA ecosystem. SEA is a platform that empowers astropreneurs to launch towards humanity’s collective space dream.”

SEA is governed by a Board of 19 members and supported by nine committees. SEA is also strongly supported by a Patron and five Fellows who share the vision to position Hong Kong as a leading hub in the international space economy. The Honourable Bernard Charnwut Chan, GBM, GBS, JP is SEA’s Patron with Fellows Dr. Anthony Neoh, KC, SC, JP, Chairman, Asian Academy of International Law, Prof. Jin-Guang Teng, BBS, JP, President, The Hong Kong Polytechnic University, Mr. Jimmy Tsang, General Manager, Goldlion, Mr. Roger Tong, Chief Executive Officer, AsiaSat, and Prof. Gregg Li, Adjunct Professor at the Laboratory for Space Research, The University of Hong Kong.

As this new economy requires education first, SEA began as the Orion Astropreneur Space Academy or OASA, with an aim to herald and teach this new economy. OASA was formed in 2020 to accelerate the awakening of young executives and professionals through action-learning and Artificial Intelligence, preparing them for the NewSpace economy. OASA has made important strides in advancing NewSpace awareness, talent development, and ecosystem building. It has engaged more than 200,000 visits, worked with over 50 partner organisations, and organised more than 60 courses and activities. As OASA evolves into SEA, the OASA remains the brand for school development programmes and youth-focused education.

SEA membership is a community of 100 co-founders, 150+ active members, 250+ student members, and 40+ industry partners shaping the future of NewSpace in the Greater Bay Area. Members connect with leading innovators, world-class institutions, global mentors, and industry leaders at the forefront of the commercial space. SEA provides a trusted platform for dialogue, collaboration, and engagement through events and direct connections. Members can access closed-door industry dialogues, international delegations, early opportunities for partnerships, and connect with an internationally respected network.

SEA’s membership framework has full, associate, and fellow membership options to serve this diverse community. All members benefit from preferential event rates, networking opportunities, curated market intelligence, professional development, and selected business support services. Full Members enjoy governance rights at general meetings, while higher-tier and charter members receive additional recognition and priority access.

Hashtag: #SpaceEconomyAssociation #SEA

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

About Space Economy Association (Hong Kong) Ltd

Space Economy Association (Hong Kong) Ltd (SEA) is an independent, membership-based NGO dedicated to connecting and facilitating space-related industries, businesses, investors, educators, experts, and governments worldwide in their pursuit of commercial space business and technology. SEA aims to help establish Hong Kong as a super-connector hub within the international space ecosystem by capitalising on its strengths in professional services, led by finance. SEA’s membership comprises a community of 100 co-founders, over 150 active members, more than 250 student members, and 40+ industry partners, all contributing to shaping the future of NewSpace in the Greater Bay Area. Members benefit from access to closed-door industry dialogues, international delegations, early partnership opportunities, and connections with a respected global network, including the UNOOSA ecosystem. SEA’s growing global network of partners spans Asia, North America, and Europe.

The event, staged on 27 June under the theme “Empowering Enterprises to Go Global, Pioneering the Blue Ocean of Silver Economy”, brought together senior government officials, banking executives, fund specialists and business figures at a time when Hong Kong is sharpening its role as an international asset and wealth management centre. The programme focused on three closely linked priorities: helping companies expand overseas, strengthening Hong Kong’s position as a global offshore renminbi hub, and turning demographic change into investable opportunities across healthcare, insurance, lifestyle and retirement planning.

Michael Wong, Acting Financial Secretary of the HKSAR Government, Christopher Hui, Secretary for Financial Services and the Treasury, and Stephen Chan, Deputy Chief Executive of BOCHK, officiated at the event. Other participants included Ko Wing-man, Standing Committee member of the National Committee of the CPPCC; Siu Sai-wo, General Manager for Business Operations at TVB; Pauline Ngan, Deputy Chairman and Managing Director of Mainland Headwear Holdings; Sam Yu, Chairman of the Hong Kong Investment Funds Association; Jack Yang, RMB Business Executive Director of BOCHK; Terry Wong, Chief Executive Officer of Hong Kong Science and Technology Parks Corporation; Angus Chan of Chinachem Group; and Wilson Tang, Chief Executive of BOC Group Life Assurance.

The expo’s opening forum examined how wider use of the renminbi could support enterprises expanding beyond their home markets. Speakers discussed changing global investment conditions, cross-border settlement, capital-market access and Hong Kong’s role as a bridge between the mainland and international investors. The focus reflected a policy push to deepen offshore renminbi activity while helping companies manage foreign exchange, financing and liquidity risks during overseas expansion.

Stephen Chan said Hong Kong was positioned to benefit from the 15th Five-Year Plan’s support for the city as an international asset and wealth management centre. BOCHK would align with government policy by deepening regional business development and promoting wider use of the renminbi, while contributing to Hong Kong’s standing as an international financial centre.

The event also gave prominence to the silver economy, a fast-expanding theme in Asian wealth and business strategy as ageing populations reshape demand for health services, insurance, property, retirement products and lifestyle consumption. The summit forum explored how traditional industries could adjust supply chains and develop services for older consumers, with particular attention to healthcare, elderly care, insurance and technology-enabled services.

Hong Kong’s wealth industry has entered the year with strong structural tailwinds. The city’s asset and wealth management business stood at more than HK$35 trillion at the end of 2024, with more than half of assets sourced from outside the mainland and Hong Kong. The number of single-family offices exceeded 3,380 by the end of 2025, up by about 680 from the end of 2023. Hong Kong has also overtaken Switzerland as the world’s largest cross-boundary wealth management centre, with cross-border wealth booked in the city reaching about $2.9 trillion in 2025.

That momentum is being matched by more intense competition and tighter compliance expectations. Banks and wealth managers are expanding advisory services, digital platforms and family-office offerings, but cross-border flows are facing closer scrutiny as authorities seek to ensure funds move through proper channels. The challenge for the city is to preserve its appeal to private clients while remaining aligned with broader policy priorities, including corporate treasury management, offshore renminbi use and regulated investment connectivity.

The expo’s workshops covered global fund and equity-market conditions, retirement wealth planning, emerging-market investment and multi-asset income strategies. One session examined renminbi assets and China’s equity and bond markets in the context of deeper economic links with ASEAN, the Global South and Belt and Road partner countries. Another looked at income opportunities across Asia-Pacific and emerging markets as investors reassess portfolios amid volatile global equity and bond markets.