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Cloud infrastructure spending in mainland China is set to grow by 15% in 2025, reaching US$46 billion, following a 13% increase in 2024. This growth is fueled by the adoption of AI technologies, with major providers like Alibaba, Huawei, and Tencent expanding their investments in computing resources and AI infrastructure. Alibaba, holding a 36% market share, plans to invest 380 billion yuan (US$52.4 billion) over the next three years.
Hong Kong is projected to surpass Switzerland as the leading global wealth hub by 2027-2028, driven by its strategic position linking the Chinese mainland and global markets. HSBC's Mark Tucker highlighted the region's potential, bolstered by China's technological advancements and supportive policies for private enterprises, which are enhancing investor confidence and market activity. The Hang Seng Index has seen significant growth, reflecting the positive momentum in Hong Kong's economic and financial landscape.
Chinese technology stocks faced a notable decline on March 25, 2025, with the Hang Seng Tech Index dropping 3.8% and nearly 9% since its peak on March 18. Xiaomi Corp's shares fell over 6% due to a US$5.5 billion share placement, raising liquidity concerns, while Alibaba's stock dropped more than 3% amid warnings of a potential bubble in data center construction. Sunny Optical Technology Group experienced a nearly 9% decline after signaling market restructuring due to excess capacity, prompting increased caution among investors in the sector.
Joe Tsai, chairman of Alibaba Group, reported on March 25 that Chinese entrepreneurs are regaining confidence following President Xi Jinping's January meeting with private business leaders. This meeting has encouraged reinvestment and hiring, prompting Alibaba to resume recruitment efforts to boost job creation and financial security. Tsai expressed optimism about the stabilization and recovery of China's economy.
AliExpress has expanded its local payment options across several African countries, allowing shoppers in Egypt, South Africa, Algeria, Ethiopia, Morocco, and Tanzania to transact in their national currencies. This initiative aims to enhance cross-border e-commerce by reducing transaction friction and improving payment security. The expansion coincides with a major promotional event and is part of AliExpress's broader efforts to improve logistics and customer experience in Africa.
Southeast Asia is attracting global investors seeking safer bets amid US-China tensions, with Singapore and Malaysia showing strong market performance, particularly in banking and semiconductors. In tech news, Singaporean AI startup Ai Palette has been acquired by UK-based GlobalData, enhancing its market intelligence capabilities. Additionally, VinFast partners with Bank Negara Indonesia to boost EV adoption, while other startups in the region secure significant funding for growth.
Alibaba.com anticipates that all sellers will utilize its AI tools by 2025, with over half of its 200,000 merchants already engaging with these technologies weekly for various business functions. This initiative is part of a broader strategy to enhance cross-border ecommerce, supported by a planned investment of 380 billion yuan (US$52.3 billion) over three years to bolster its cloud computing and AI infrastructure.
Zhipu, a Chinese AI startup backed by Alibaba, has raised over 1 billion yuan (approximately $140 million) in its latest funding round. The investment was led by government-backed entities from Hangzhou, with participation from existing investors including Tencent. This funding reflects the growing emphasis on China's AI sector.
Huawei is set to unveil a new smartphone powered by its HarmonyOS Next in March, featuring a "new form factor" and advancements in hardware, software, and app ecosystem. The announcement has led to a surge in related stocks, with speculation suggesting the device may be a foldable smartphone. Huawei aims to transition all its smartphones and tablets to HarmonyOS Next this year, following the release of the Mate 70 series.
DeepSeek, a Chinese AI startup, has reopened access to its API after a three-week suspension due to capacity shortages. Customers can now resume credit top-ups, coinciding with Alibaba Group's preview of its new AI model, QwQ-Max, highlighting the intensifying competition in China's AI sector.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Chinese cloud market projected to grow 15 percent by 2025
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04:00 28.03.2025
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