Pop Mart extended its rally in Hong Kong on Wednesday after unveiling an accelerated push into the US market, reports the South China Morning Post. The rise underscores how overseas expansion is helping the Chinese toymaker offset lingering pressures at home, says the Post.

The maker of Labubu figurines plans to open more than 20 new stores across the United States this year, under a partnership with US mall operator Simon Property Group, which announced the roll-out in mid-January. The outlets will be located in major shopping centres including King of Prussia in Philadelphia, Sawgrass Mills in Florida and The Westchester in New York, marking a step-change in Pop Mart’s overseas ambitions.

Shares of Pop Mart climbed as much as 9 per cent to HK$236 in afternoon trading, before ending 7% higher at HK$231.4, extending a rebound fuelled by a HK$350 million (US$45 million) share buy-back last week. The stock has now risen more than 32% from its year-to-date low of about HK$174.

China’s largest gold mining company Zijin Mining is acquiring Canada’s Allied Gold in an all-cash deal valued at about $4 billion. This is the first major cross-border transaction since Canadian Prime Minister Carney’s recent visit to Beijing, which saw a thawing of several years of diplomatic tensions.

The announcement came as gold prices reached a record high, briefly topping $5,100 per ounce for the first time. As the uncertain geopolitical climate pushes demand for gold up, Chinese miners are viewing overseas acquisitions with increasing importance to offset limited domestic reserves.

Carney’s recent speech at Davos underscored a fundamental shift in geopolitics is underway, spurred on by Trump’s reshaping of international norms. Canada and other countries are clearly reviewing their relationship with China in view of the uncertainties and instability of the US.

China is expected to finish construction on the Pinglu Canal before the end of this year, reports the South China Morning Post. This would mean it has taken just four years to complete the RMB 72.7 billion (US$10.4 billion) project, which aims to boost trade links with the country’s top export destination: Southeast Asia.

The mega-project will provide China’s landlocked southwestern provinces with direct access to global shipping lanes, making it faster and cheaper to transport goods between the Chinese interior and neighbouring countries.

The 134km waterway linking Nanning, capital of the Guangxi Zhuang autonomous region, with the Gulf of Tonkin via the Qinjiang River is the first major canal China has built for centuries. Construction on the project has already entered its final phase, and it is set to open to navigation by the end of 2026, says the Post.

China’s Anta Sports Products said on Tuesday it would buy a 29.06% stake in Puma for €1.51 billion ($1.79 billion), reports Reuters. The deal will make it the biggest shareholder in the German sportswear maker.

The Hong Kong-listed company will pay €35 per share in cash for 43 million Puma shares, Anta said in a stock exchange filing. The price is a 62% premium to Puma’s €21.63 closing share price on Monday, up nearly 17% in the session.

Anta said it believed Puma could increase its international competitiveness and build its brand recognition with the Chinese company as its largest investor. Anta said it would seek Puma board seats once the deal was finalised.

China’s banking wealth management market expanded to a record RMB 33.29 trillion ($4.8 trillion) in 2025, up 11.15% from the year start, reports Caixin. This comes even as average investor returns slipped below 2% for the first time, highlighting the disconnect between asset growth and yield performance.

The industry’s growth underscores the continued enthusiasm of China’s roughly 143 million retail investors, says Caixin, many of whom remain drawn to low-risk banking products despite diminishing yields. This trend has prompted financial institutions to diversify beyond traditional fixed-income assets to sustain returns.

The balance of wealth management products, or WMPs, rose 11.2% over the year, according to a report released Friday by the China Banking Wealth Management Registration and Depository Center. However, average returns fell to 1.98% in 2025, down 67 basis points from 2.65% a year earlier. The total income generated for investors reached RMB 730.3 billion.