Hong Kong

The Pentagon has opened an investigation into how F-35 fighter jet components being shipped to the United States were diverted to Hong Kong. The incident raises concerns about supply-chain security and export controls surrounding one of America's most sensitive defense programs, with questions expected about whether the diversion was an error or deliberate.

US authorities have opened an investigation after components for the F-35 fighter jet were diverted to Hong Kong, raising concerns that sensitive military technology could reach China. Lawmakers are seeking answers on how the diversion happened and whether export controls on defense hardware were violated, with the incident expected to fuel debate over arms shipment safeguards.

The central banks of Hong Kong and Indonesia are deepening cooperation on cross-border QR code payments, aiming to make retail payments between the two economies faster and more interconnected. The move fits a broader regional push, led by Southeast Asian regulators, to link national payment systems and reduce reliance on traditional correspondent banking channels for everyday transactions.

Hong Kong Financial Secretary Paul Chan says the city can offer AI governance solutions to major economies. He argues Hong Kong's regulatory approach and experience with emerging technologies position it as a useful reference point as governments worldwide grapple with how to oversee artificial intelligence development.

Hong Kong is stepping up efforts to strengthen economic and professional links with Central Asia. The Hong Kong Trade Development Council, together with the city's Department of Justice, led the Collaborate2Win campaign across Xinjiang, Kazakhstan and Uzbekistan, promoting Hong Kong's financial, legal and professional services as it seeks new markets and partners in the region.

New research from the Hong Kong Trade Development Council indicates that mainland Chinese enterprises are increasingly adopting comprehensive global business strategies. The survey shows these companies are targeting both advanced economies and emerging markets as they expand internationally, a shift observers see as a sign of growing maturity and ambition among Chinese firms operating abroad.

Insilico Medicine has signed a co-development deal worth tens of millions of dollars with an unnamed foundation-model laboratory, joining forces to apply large AI models to drug discovery. The Hong Kong-based biotech, known for using generative AI to design drug candidates, has not disclosed its partner or the exact terms, leaving observers speculating about which AI lab is behind the agreement.

Congressional leaders have opened an investigation into how components for US F-35 fighter jets ended up diverted to Hong Kong. Lawmakers want to determine whether the parts reached Chinese hands through suppliers or intermediaries, raising concerns about export controls and potential exposure of sensitive stealth aircraft technology to Beijing.

Hong Kong's government says Hong Kong Stadium could be used to host tennis events while nearby Victoria Park undergoes an upgrade. The arrangement would keep tournaments running in the city during the multi-year renovation of the park's tennis facilities, with the minister confirming the option is being considered. Officials have not detailed a timeline or which competitions might relocate.