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South China Morning Post
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Hong Kong urged to make itself ‘truly the world's green financial centre'
Hong Kong is poised to play an invaluable role in sustainable development by capitalising on its strengths in green finance given mainland China's status as a leader in advanced green technologies, a top American economist has said. Advertisement Jeffrey Sachs, an economics professor and director of the Centre for Sustainable Development at Columbia University, also said on Thursday that the Greater Bay Area was superior to Silicon Valley. Beijing should also speed up the internationalisation of the renminbi, he said. 'The role of Hong Kong in sustainable development is becoming central for the whole world,' Sachs said at an event hosted by the newly formed Hong Kong Association for External Friendship, a non-governmental organisation. The UN's Sustainable Development Goals, which were adopted by all of its member states in 2015, are a set of 17 global targets aimed at ending poverty, protecting the planet and ensuring prosperity for all by 2030. Sachs said China had a unique role to play in driving sustainable development as it was the world's largest industrial nation and the 'lowest-cost producer' of advanced green and digital technology. Advertisement Hong Kong's role, in turn, was to provide the financing needed and serve as a bridge that connected the world through bond issuances, listings and finding business partners.
South China Morning Post
an hour ago
- South China Morning Post
US' ‘anti-Beijing trade plan', little-known China oversupply issue: SCMP daily highlights
Catch up on some of SCMP's biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing The United States has struck new trade deals with Indonesia and the Philippines, in a move analysts say could indirectly undercut China by reshaping regional supply chains and tapping rare earth reserves – even if Beijing is not explicitly targeted. Six university students drowned in an industrial tank during a field trip to a mining operation owned by China's most prestigious gold producing company, according to state news agency Xinhua. China released ethical guidelines for autonomous driving technology on Wednesday that said automated driving systems 'must demonstrate a high degree of respect for human life and actively seek effective strategies to minimise harm'.
South China Morning Post
an hour ago
- South China Morning Post
Leapmotor rolls out smart EV at half the price of Tesla's Model 3 in push for global sales
Stellantis-backed Leapmotor has announced the latest phase in its global push by launching an electric midsize sedan that offers similar features to Tesla's Model 3 at less than half the price. The Hangzhou-based electric vehicle (EV) builder said the B01, priced from 89,800 yuan (US$12,542) in mainland China, would target markets around the world as it pursued new growth engines amid cutthroat competition at home. 'We are offering our answer to customers' demand for an exquisite, value-for-money mass market car,' Cao Li, Leapmotor's senior vice-president, told a press conference in Hangzhou on Thursday. 'We are confident that the new car has largely exceeded market expectations.' Deliveries to mainland Chinese customers would begin this month, but the company did not say when the new car would be sold overseas. Leapmotor developed the new model based on its upgraded architecture, known as Leap3.5, which supports smart driving and fast charging. An aerial view of Tesla's Megafactory in Shanghai, February 8, 2025. Photo: Xinhua The five variants of the B01 have driving ranges from 430km to 650km, with the top-end model priced at 119,800 yuan. The batteries can offer about 300km of mileage with 18 minutes of charging.
