China's flagship cultural fair features technology as skeleton, culture as soul

Hi everyone. I’m Stephanie LI.Coming up on today’s programThe 21st ICIF kicks off in Shenzhen, showcasing a fusion of Chinese culture and technology;Hong Kong’s IPO market nearly quadruples in a year as global investors reprice Chinese assets.Here’s what you need to know about China in the past 24 hours More than six-thousand exhibitors attend the 21st China International Cultural Industries Fair(ICIF) in South China's Shenzhen beginning Thursday. With a record-breaking scale, the five-day fair brings together 6,280 government delegations, cultural institutions, and enterprises for online and offline exhibitions, showcasing over 120,000 cultural products. Additionally, more than 4,000 cultural industry investment and financing projects will be displayed and traded onsite, reflecting the vibrancy of China’s cultural economy.Recognized as one of China's most influential cultural expos, the 2025 edition features 305 overseas exhibitors from more than 65 countries and regions, with the number of participating nations along the Belt and Road Initiative hitting an all-time high. It is expected to attract 35,000 overseas professional visitors from 110 countries and regions, underscoring its growing influence as a global cultural exchange hub.A core theme of this year’s fair is the deep integration of technology and culture. For the first time, an Artificial Intelligence (AI) Exhibition Zone has been established, featuring over 60 leading enterprises in the AI field. Chinese AI search innovator DeepSeek and trendy toy giant Pop Mart—both making global headlines this year—are participating with cutting-edge equipment and stylish blind boxes.Leveraging technologies like AI, the metaverse, virtual reality, digital exhibition halls, and cloud computing, visitors can virtually journey through the prosperous Tang Dynasty with poet Li Bai or engage closely with Dunhuang’s ancient civilization without leaving their homes.Popular exhibits range from Dunhuang’s Silk Road-inspired intangible cultural heritage crafts and cultural and creative products to smart cockpits, humanoid robots, and AI glasses from the Greater Bay Area, which blend practicality with aesthetic value.Notably, humanoid robots at the fair have engaged in “soul-touching” interactions with visitors, embodying a breakthrough in “technology + culture” as new productive forces.This year’s fair not only showcases China’s cultural soft power but also highlights its commitment to fostering global cultural trade and technological collaboration, with the first-ever "Chinese Culture Going Global" section this year that allows Chinese enterprises to showcase their cultural exports.GBA expressGuangdong unveils a major policy package to strengthen the competitiveness and appeal of its cultural industry globally, following the opening of the 21st ICIF today. Aiming to enhance innovation, market expansion, and industrial upgrading of the cultural sector, the targeted initiatives provide customized support for six core areas: film and TV, live performances, animation, online games, esports, and digital streaming.IPOs on the Hong Kong stock exchange surged almost four-fold in value in the past year, as international investors re-evaluate the value of Chinese companies amid a softening US dollar and shifting global supply chains. Some 76 companies went public in Hong Kong in the 12 months ended May 21, raising a combined HKD145 billion, according to data from Wind Information.Macao welcomed over 3.09 million visitors last month, up 18.9 percent from a year earlier, the SAR's Statistics and Census Service announced yesterday. The Chinese mainland remained the largest visitor source, with more than 2.12 million, up 22.4 percent. Same-day visitors jumped by 30.1 percent to over 1.75 million, while overnight visitors rose 6.9 percent to nearly 1.34 million.Cathay Pacific carried 36.3 percent more passengers and 13.6 percent more cargo in April this year compared with the month last year. During the month, its capacity – measured in available seat kilometers – also rose 27.1 percent, the Hong Kong flag carrier’s traffic figures for April show. In the first four months of this year, the number of passengers carried increased by 26.6 percent compared with the same period for 2024, Cathay added.Industry and company newsXpeng opened 9.7 percent up today after the Chinese NEV startup reported better-than-expected first-quarter earnings and predicted to turn profitable in the fourth quarter. Net loss narrowed 52 percent to 660 million yuan, while revenue soared 142 percent to 15.8 billion yuan. Xpeng delivered 94,008 vehicles in the first quarter, up 331 percent from the same period last year, to achieve a new quarterly record. It plans to roll out humanoid robots for industrial and commercial use next year, chairman and CEO He Xiaopeng said during the earnings call.Baidu’s non-GAAP net income fell 8 percent to 6.5 billion yuan in the first quarter from a year earlier, the Chinese tech giant’s latest earnings report showed yesterday. Revenue rose 3 percent to 32.5 billion yuan, with profits from its core businesses rising to 7.63 billion yuan, marking a 48 percent year-on-year increase.QatarEnergy is deeply cooperating with China on LNG carriers, as China has a huge demand for natural gas, being the world's largest LNG importer, Saad Al-Kaabi, Qatar’s minister of energy and CEO of QatarEnergy, said at the WGC2025. Qatar's North Field east expansion project, which involves Chinese oil and gas giants, will come on stream in mid-2026, he added.JPMorgan Chase's CEO Jamie Dimon is visiting China to deliver a keynote speech at the two-day J.P. Morgan Global China Summit in Shanghai today. Themed Capital Connections, the event features business leaders, such as Saudi Aramco's CEO Amin Nasser and Qualcomm's CEO Cristiano Amon.Asia-Pacific highlightsAlibaba Group's e-commerce platform Taobao announced on Thursday that its free global delivery service will expand to 12 countries and regions across the globe, as the company is stepping up its globalization layout. According to Taobao, Singapore, Malaysia, South Korea, Australia, Japan, Thailand, Cambodia, Kazakhstan and Mongolia will be included in the initiative. China is the biggest source of foreign investments in Southeast Asia's clean energy sector, helping the region to reach its decarbonization goals, a regional webinar heard on Tuesday. Sharon Seah Li-Lian, a senior fellow of the ISEAS-Yusof Ishak Institute in Singapore and coordinator of the ASEAN Studies Centre and Climate Change in Southeast Asia Program, noted that with the US retreating from the Paris climate treaty, China is "providing greater leadership" in global climate issues. Seah also noted ASEAN's underrepresentation in international climate initiatives and called for increased regional participation and cooperation. The latest report by global think tank Zero Carbon Analytics revealed that China has invested over USD2.7 billion in clean energy in ASEAN between 2013 and 2023. China also led in clean energy trade with ASEAN, with trade valued at USD4.3 billion.