Shanghai has announced a slew of new investments worth RMB 70 billion ($10 billion) in hi-tech industries ranging from chips to artificial intelligence and aviation, reports the South China Morning Post. Shanghai is the latest Chinese city to unveil ambitious plans to boost local innovation amid an intensifying US-China tech race.

The city’s Pudong district unveiled 50 big-ticket projects on Monday, with most of the investment earmarked to flow into key industries including microchips, AI, biopharmaceuticals, smart vehicles and aviation, among others. The exact funding sources for the projects have not been specified.

Shanghai is just the latest Chinese city to launch a tech investment spree going into the new year, as local officials across the country heed Beijing’s call to double down on developing self-sufficiency in core technologies as they map out their priorities for 2026 and beyond.

Chinese private rocket company LandSpace Technology has received the green light to list on Shanghai’s STAR Market, marking a potential first for China’s fledgling commercial space sector, reports Caixin. The company aims to raise RMB 7.5 billion ($1.1 billion) through the offering.

According to a stock exchange filing, the Shanghai bourse accepted LandSpace’s listing application on December 31, just days after Chinese regulators clarified IPO rules for unprofitable tech firms in high-priority sectors. LandSpace is among several domestic space startups racing to go public, including CAS Space, Space Pioneer, and Galactic Energy, all preparing for domestic listings.

The IPO scramble underscores Beijing’s push to foster a competitive commercial space industry, vital for building large-scale satellite networks and countering rivals like SpaceX. With orbital slots and radio spectrum allocated on a first-come, first-served basis, urgency is mounting to develop cost-effective, reusable launch vehicles.

China Vanke is once again seeking to delay the repayment of a maturing domestic bond, reports Caixin. This is the third such attempt as the embattled property developer faces intensifying liquidity pressure and dwindling state support.

Vanke announced it would convene a meeting of bondholders for its “21 Vanke 02” corporate note to vote on a proposal to push back repayment. The meeting is scheduled for January 16, with voting to conclude on Jan. 19. Trading of the bond will be suspended starting January 5, the company said.

A number of investors have exercised a put option requiring Vanke to repay the RMB 1.1 billion ($157 million) bond on January 22. The company is proposing a one-year extension to January 22, 2027, along with a 30-trading-day grace period. It pledged to pay interest due on January 22, 2026, and to provide additional credit enhancements.

US President Donald Trump has blocked US photonics firm HieFo Corp’s $3 million acquisition of assets in New Jersey-based aerospace and defense specialist Emcore, citing national security and China-related concerns, reports Reuters.

In an order released by the White House, Trump said HieFo was “controlled by a citizen of the People’s Republic of China” and that its 2024 acquisition of Emcore’s businesses led the president to believe that it may “take action that threatens to impair the national security of the United States.”

The Committee on Foreign Investment in the United States identified a national security risk, opens new tab in its investigation of the deal, the Treasury Department said after Trump’s order. The statement did not specify the national security risk. Emcore, publicly traded at the time of the deal and later taken private, has said HieFo bought its chips business and indium-phosphide wafer-fabrication operations for $2.92 million.

China has pledged to empower local governments with city-specific measures to clear housing gluts and optimise supply next year, reports the South China Morning Post. The move is aimed at ramping up efforts to stabilise a real estate market that has been in downfall.

“Municipal governments should fully utilise their autonomy in regulating the property market, adjusting and optimising policies as appropriate,” said Ni Hong, the minister of housing and urban-rural development.

To mitigate delivery risks in commercial housing, the ministry is pushing for a shift towards selling completed homes in a “what you see is what you get” model. While for projects that continue to operate on the traditional presales model–a key amplifier of the property crisis–Ni called for stricter oversight of funds to ensure that homebuyers’ rights are protected.