China’s first Legoland opens in Shanghai

Hi everyone. I’m Stephanie LI.Coming up on today’s programLegoland Shanghai opening sparks surge in local hotel demand;HK tops global IPO rankings with 42 new listings in H1.Here’s what you need to know about China in the past 24 hours Legoland Shanghai Resort officially opened to the public on Saturday, which saw visitors lining up early in the morning, many of them coming from Shanghai and nearby cities. Demand for accommodation in the area surrounding the resort soared in the days before the world's biggest theme park dedicated to the famous plastic toy bricks produced by Denmark's The Lego Group opened.Hotel bookings for the summer holiday starting from July 1 in Jinshan district, where Legoland Shanghai opened on July 5, jumped four and a half times from a year earlier, according to data from travel agency Qunar. Local tourists accounted for about 30 percent of reservations, while the rest mainly came from Beijing, Qingdao, Chengdu, and Nanjing.Besides hotels, many tourists picked homestay services, with relevant reservations in Jinshan district surging seven times for the two-month summer holiday from a year ago, according to data from homestay booking platform Tujia. Bookings for family rooms soared eight times.Legoland Shanghai underwent nearly two months of internal testing and trial operations before opening to the public. Covering an area of about 318,000 square meters, it is the first Legoland in China and the 11th in the world.Fiona Eastwood, chief executive of UK entertainment giant Merlin Entertainments, the park's operator, said China is the world’s second-largest theme park market and holds strategic importance for the company. She noted that building Legoland Shanghai, the largest Legoland park globally, took nearly a decade of careful planning and development. She added that the opening of the first Legoland resort in China marks an important step toward the company’s goal of becoming a leading global branded entertainment destination.Families with children were a common sight, as both adults and kids were visibly excited. Despite the scorching summer heat and long queues, enthusiasm ran high, with eager crowds undeterred by the wait, according to a Xinhua live interview.Cultural and tourism consumption, especially family-oriented activities, is one of the fastest-growing markets in China. Popular IPs like Disney and Universal Studios create emotional bonds across generations, boosting family travel and spending.Liu Dingding, a veteran internet industry observer, said the opening of Legoland Shanghai Resort, together with Amazon China’s major summer sales event, reflects growing confidence among foreign businesses in China’s recovering consumer market. “These developments send a clear signal that foreign enterprises remain optimistic about China’s consumption potential,” Liu said.GBA expressHong Kong recorded 42 initial public offerings in the first half of this year, raising over HK$107 billion, about 22 percent higher than the full-year figure for 2024, and clinching the top spot in IPO fundraising worldwide, Financial Secretary Paul Chan Mo-po wrote in his Sunday blog. Exchange-traded products linked to different types of assets have become key in supporting the liquidity of Hong Kong stocks, especially during market fluctuations, he added.InvestHK has supported over 1,300 overseas and Chinese mainland companies in establishing or expanding their businesses in the SAR from January 2023 to the first half of 2025, resulting in more than HK$160 billion in direct investment— more than double the target set by the government in 2022.Shenzhen ports recorded 130 million inbound and outbound travelers in the first half of the year, up 16 percent from a year earlier, according to local border inspection data. Among them, over 3.4 million were foreign nationals, up 39 percent in the period.Apple supplier Lens Technology has raised HK$4.8 billion after pricing its listing in Hong Kong at the top of the marketed range, media reported citing people familiar with the matter. The Shenzhen-listed company has sold 262.3 million shares at HK$18.18 each, the people said. Visitors and Hong Kong residents on Monday bid farewell to the fleet led by the Chinese People's Liberation Army Navy aircraft carrier Shandong, the nation’s first domestically built aircraft carrier, after a five-day port call to the city.Industry and company newsChina and Brazil have signed a plethora of cooperation documents in fields such as infrastructure, pharmaceuticals, new energy, AI and development strategy alignment, part of their efforts to promote bilateral ties, according to the National Development and Reform Commission (NDRC) on Monday.Chinese robotics startup AgiBot yesterday unveiled Lingxi X2-N, a next-generation humanoid robot featuring a dual-mode design that allows seamless switch between wheeled and foot-operated movement. AgiBot said X2-N redefines robotic mobility, marking a new era of intelligent navigation across complex terrains.Xiaomi delivered the first batch of its YU7 electric SUVs yesterday. Founder and CEO Lei Jun handed over the keys and took photos with the new owners of the vehicle, priced between CNY253,500 and CNY329,900.Tsinghua University-backed Robot Era announced today it raised nearly CNY500 million in a Series A financing round led by CDH VGC and Haier Capital. The proceeds will be used to advance humanoid robot technology R&D and accelerate mass production.BYD and Legoland Shanghai Resort have inked a deal to collaborate on green mobility and immersive driving experiences to create travel systems for children aged two to 12, combining education with entertainment for future transportation, the Chinese EV giant said yesterday.Chinese power bank maker Romoss suspended operations for six months from today due to the impact of a recall scandal, media reported. Most workers will be furloughed, receiving only 80 percent of Shenzhen’s minimum wage, while those directly involved in the recall incident will remain on duty. Romoss has closed its flagship stores on JD.com and Taobao. The 3C certifications for most of Romoss’ products were suspended, according to China's market regulator.Asia-Pacific highlightsEmirates, one of the two flag carriers of the United Arab Emirates, has launched a new daily passenger service between Dubai and Shenzhen, marking the airline’s first new route to China in almost 10 years. It also plans to launch a new daily flight between Dubai and Hangzhou by the end of this month, and will upgrade its planes on the Dubai-Shanghai route. South Korean carrier Jeju Air will expand its routes to Chinese destinations due to growing demand, adding a new route from Busan to Shanghai on July 25 and another from Incheon to Guilin on Oct. 1, both with four flights per week, the airline said today.Cambodia has seen a remarkable increase in the number of Chinese tourists to its iconic Angkor Archaeological Park in the first half of 2025. A total of 47,571 Chinese tourists visited the UNESCO-listed world heritage site during period, up 25 percent over the same period last year and remained the fourth biggest source of international tourist arrivals, said the state-owned Angkor Enterprise's report. In a recent interview with 21st Century Business Herald, Cambodian State Minister H.E. SOK Siphana said while the U.S. remains Cambodia's top export market, the country is actively diversifying export markets and products to mitigate risks, with its garment and footwear sectors showing remarkable flexibility and resilience. Siphana highlighted the critical role of RCEP in navigating global uncertainties. "As RCEP's largest economy, China's influence will drive regional integration and multilateral confidence," he said, emphasizing China's new market opportunities for RCEP members. Looking ahead to the second decade of the Belt and Road Initiative, Siphana stated Sino-Cambodian cooperation will focus on capacity building in industry and agriculture, prioritizing quality and standards. "The first phase centered on 'hardware' infrastructure, while the second phase will emphasize 'software' development," he added.