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Japan-Hong Kong Innovation and Technology Forum Ushers in a New Chapter for Bilateral Innovation and Technology Collaboration

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HONG KONG SAR – Media OutReach Newswire – 31 October 2025 – The Hong Kong Science and Technology Parks Corporation (HKSTP) joins hands with the Consulate-General of Japan in Hong Kong, DEFTA Partners, and the Alliance Forum Foundation in Special Consultative Status with the United Nations ECOSOC to co-host today’s Japan-Hong Kong Innovation and Technology Forum. The event successfully concluded as it convened distinguished leaders from government, academia, and industry, reaffirming Hong Kong’s position as a world-class launchpad for innovation and a strategic bridge between Japan’s deep tech capabilities and Hong Kong’s globally connected innovation and technology (I&T) ecosystem.

HKSTP joins hands with the Consulate-General of Japan in Hong Kong, DEFTA Partners, and the Alliance Forum Foundation in Special Consultative Status with the United Nations ECOSOC to co-host today’s Japan-Hong Kong Innovation and Technology Forum. Amb Jun Miura, Consul-General of Japan in Hong Kong (Centre), Amb George Hara, Group Chairman & CEO, DEFTA Partners (2nd from left), Ms Lillian Cheong, Under Secretary for Innovation, Technology and Industry of the HKSAR (2nd from right), Prof Yutaka Matsuo, University of Tokyo (1st from left, and Mr Terry Wong, Chief Executive Officer of HKSTP (1st from right), officiates the event.
HKSTP joins hands with the Consulate-General of Japan in Hong Kong, DEFTA Partners, and the Alliance Forum Foundation in Special Consultative Status with the United Nations ECOSOC to co-host today’s Japan-Hong Kong Innovation and Technology Forum. Amb Jun Miura, Consul-General of Japan in Hong Kong (Centre), Amb George Hara, Group Chairman & CEO, DEFTA Partners (2nd from left), Ms Lillian Cheong, Under Secretary for Innovation, Technology and Industry of the HKSAR (2nd from right), Prof Yutaka Matsuo, University of Tokyo (1st from left, and Mr Terry Wong, Chief Executive Officer of HKSTP (1st from right), officiates the event.

Among the distinguished guests were Ambassador Jun Miura, Consul-General of Japan in Hong Kong; Ms Lillian Cheong, Under Secretary for Innovation, Technology and Industry of HKSAR; Ambassador George Hara, founder of DEFTA Partners and advisor to HKSTP; Mr Terry Wong, CEO of HKSTP; and global AI expert Professor Yutaka Matsuo of the University of Tokyo.

Amb Jun Miura, Consul-General of Japan in Hong Kong, said: “The increasing importance of Hong Kong and HK-Shenzhen-Guangzhou cluster as a hub for innovation and technology based on their capital, information, universities and talent is becoming clear, especially as the pace of technological advancement, including AI, and changes in the business environment, accelerates.” He added: “Now is the time for Japan and Hong Kong to explore opportunities of collaboration in innovation and technology, based on their longstanding relationship. “,” I hope that the startups of Hong Kong will visit various parts of Japan and deepen their understanding of the various opportunities that Japanese local cities provide. Likewise, I would like to see more Japanese startups come to Hong Kong to seize opportunities. By doing so, hopefully both Japan and Hong Kong can grow together in the field of innovation and technology.”

Ms Lillian Cheong, Under Secretary for Innovation, Technology and Industry of the HKSAR, said that the Government has spared no efforts in devising support measures to promote the development of start-up ecosystem in Hong Kong, citing the $10 billion Research, Academic and Industry Sectors One-plus Scheme, the launch of the $180 million Pilot I&T Accelerator Scheme as well as the setting up of a $10 billion Innovation and Technology Industry-Oriented Fund and the relaxation of application threshold for the New Industrialisation Acceleration Scheme. She expressed confidence that Japanese I&T enterprises can benefit greatly from setting up footholds in Hong Kong with a view to tapping the vast Mainland and overseas markets.

Mr Terry Wong, CEO of HKSTP, said, “Our forum today exemplifies this spirit, bringing together Japan’s deep tech strength and Hong Kong’s global platform to unlock a new era of collaboration. At HKSTP, we are committed to enabling startups to go global while attracting international innovation leaders to land and scale in Hong Kong. To date, more than 150 tech enterprises have participated in nine major innovation events across Japan, generating over USD 5 million in commercialisation value through increased exposure and strategic partnerships.”

He added that HKSTP is fast-tracking the development of INNOPOLE, a new 20-hectare San Tin Technopole campus within the Northern Metropolis. This strategic initiative is designed to create a powerful economic engine, providing expansive space for AI development and Greater Bay Area collaboration. INNOPOLE will solidify Hong Kong’s position as the world’s premier gateway for innovation.

Amb George Hara, Group Chairman & CEO, DEFTA Partners, shared insights at the keynote speech, and said: “The momentum from today’s forum is a clear signal that the future of tech will be written through collaboration. We are committed to bring strategic alliance with Japanese corporates, leveraging DEFTA’s expertise to turn the promising sciences and technologies out of Hong Kong into the groundbreaking enterprises of tomorrow.”

As Chairman of the Alliance Forum Foundation, he said “Hong Kong serves as a pivotal junction between Japan, China and the United States, holding significant geopolitical importance. Should Japan’s industrial sector contribute to growth by commercialising new technologies emerging in Hong Kong universities and establishing technology industries, while introducing the concept of public-benefit capitalism to cultivate a prosperous middle class, Hong Kong could become a model city for the 21st century and set an example for many Asian cities. Fostering a prosperous middle class also contributes significantly to building democracy and peace. Everything hinges on what kind of city Hong Kong’s business leaders envision for its future”.

At the forum, panel discussions explored topics including artificial intelligence, investment, business collaboration, and bio-related technologies. These sessions brought together entrepreneurs, scientists, and industry leaders from Japan and Hong Kong to share insights and explore opportunities for mutual growth.

The Japan-Hong Kong Innovation and Technology Forum laid a strong foundation for future bilateral engagement, fostering ongoing collaboration and shared success. HKSTP continues to drive global expansion for Hong Kong startups through its “Attract In and Expand Out” strategy, and remains committed to deepening its alliance with Japanese stakeholders, leveraging collective strengths to drive innovation and co-create a dynamic I&T ecosystem that addresses global challenges and supports sustainable growth.
Hashtag: #HKSTP #HongKongScienceandTechnologyParksCorporation

The issuer is solely responsible for the content of this announcement.

NAVEE Launches XT5 Pro All-Terrain Electric Scooter, Expanding Green Mobility Beyond the City

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EL MONTE, Calif., Oct. 31, 2025 /PRNewswire/ — NAVEE, a leading innovator in smart mobility, today unveils the XT5 Pro All-Terrain Electric Scooter, designed for riders seeking both performance and sustainability. The XT5 Pro will be available through NAVEE’s official online store and Amazon, priced at $1,499.99.

Built for exploration, the XT5 Pro features a 2,200 W high-torque rear motor, delivering 30% more climbing power and a top speed of 31 mph (50 km/h). Its automotive-grade regenerative braking system recovers energy during rides, extending the range up to 46 miles (75 km). Supporting a maximum load capacity of 331 lbs (150 kg), it comes with Front & Rear Dual-side Arm Damping Spring Suspension, 12-inch all-terrain tubeless tires, and 163 mm of ground clearance for stability on gravel, mud, and steep terrain.

XT5 Pro All-Terrain Electric Scooter
XT5 Pro All-Terrain Electric Scooter

The XT5 Pro has earned UL certification for off-road performance in range, energy efficiency, and acceleration, validating its excellence in core metrics. It also received TÜV Rheinland’s “Full-Speed True Range” certification, verifying consistent range performance even at top speeds.

The XT5 Pro comes equipped with NAVEE’s Traction Control System (TCS), a triple braking setup — front drum, rear disc, and E-ABS — and smart connectivity through the NAVEE App, where riders can track routes, customize performance, and check battery status. Additional features include Apple Find My integration for theft prevention and an adaptive 9W headlight for safer night rides.

Known for its bold industrial-inspired design, the XT5 Pro’s sharp lines and modular frame draw inspiration from off-road vehicles like the Can-Am Maverick X3 and Tesla Cybertruck. Reflecting this design excellence, the model was recently recognized in Fortune China’s “Top 50 Chinese Enterprise Design Awards” for its balance of innovation, aesthetics, and sustainability.

Unlike traditional fuel-powered off-road vehicles, the XT5 Pro delivers powerful performance with zero emissions and minimal noise — a testament to NAVEE’s commitment to sustainable innovation.

“Outdoor mobility is evolving fast,” said Zhuang, Product Director at NAVEE. “The XT5 Pro is built for people who are seeking longer journeys—from city streets to mountain paths, while staying true to sustainable living.”

About NAVEE

NAVEE is a leading brand in electric mobility, recognized for its industry-leading suspension technology, and as the fastest-growing new brand in sales, delivering products with cutting-edge design and sustainability. Discover how NAVEE is shaping the next generation of smart urban mobility at https://naveetech.us/.

 

Zhimeng Biopharma’s investigational drug CB03-154 for amyotrophic lateral sclerosis has achieved the first patient first dose milestone in the phase 2/3 pivotal clinical trial.

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SHANGHAI, Oct. 31, 2025 /PRNewswire/ — Shanghai Zhimeng Biopharma Inc. ( “Zhimeng”) announced that its self-developed new-generation potassium channel opener CB03-154 for the treatment of amyotrophic lateral sclerosis (ALS) has officially initiated the phase 2/3 clinical trial and completed the first patient first dose at the 2nd Affiliated Hospital of Hebei Medical University. Previously (in July 2025), CB03-154 received approval from the China Center for Drug Evaluation (CDE) to conduct the ALS phase 2/3 adaptive clinical trial. The CB03-154 has also been granted orphan drug status in the United States in October 2023 for the treatment of ALS.

This phase 2/3 clinical trial is a multicenter, randomized, double-blind, placebo-controlled study with open-label extension. This study is led by Professor Fan Dongsheng from the 3rd Affiliated Hospital of Peking University as the leading investigator nationwide. This study will enroll approximately 240 patients diagnosed with ALS in about 15 centers in China. The disease duration of to be enrolled patients will be within 24 months from the first symptom onset to the screening visit. The primary efficacy endpoint of the study is the change from baseline at week 39 of the revised ALS Functional Rating Scale (ALSFRS-R) score.

Amyotrophic Lateral Sclerosis (ALS) is a progressive and fatal central nervous system disease with unknown etiology. It mainly affects the motor neurons in the cerebral cortex, brainstem, and spinal cord. The pathological features of ALS include the loss of upper and lower motor neuron cell bodies, as well as the degeneration of the corticospinal tract/corticobulbar tract and axons of lower motor neurons, and the occurrence of denervation changes in muscles. Clinically, it mainly presents as progressive skeletal muscle weakness, atrophy, fasciculation, bulbar palsy, and pyramidal tract signs. The median survival duration is generally 2 to 3 years after the onset of symptoms. The main cause of death is neuromuscular respiratory failure. The annual incidence of ALS in Europe and the United States is 2/100,000 to 3/100,000, and the prevalence rate is 3-5/100,000. The peak age of onset is 50 to 75 years. Approximately 10% of ALS patients are familial, while the remaining 90% are sporadic. Currently, there are no treatments that can stop or reverse the progression of the disease. Therefore, clinical management focuses on early diagnosis and early treatment to maximize the survival time. Currently, only three drugs have been approved worldwide for ALS, namely Riluzole, Edaravone, and Tofersen (trade name Qalsody). These approved drugs can only slightly improve the patient’s function or slightly prolong the survival time. Therefore, ALS still has a huge unmet medical need.

Although the pathogenesis of ALS has not been fully deciphered, studies have found that it is closely related to changes in ion channels, synaptic transmission and connections, as well as the imbalance of excitation and inhibition of neurons. Among them, the potassium ion (K+) channel is the most widely distributed and has the largest variety, mainly participating in regulating the excitability of neurons and the frequency and amplitude of action potential generation. Currently, there are no marketed KCNQ2/3 potassium ion channel openers available for ALS patients. The only KCNQ2/3 potassium ion channel opener that was approved by the FDA and EMA, ritigabine (Potiga, Ezogabine/Retigabine), was once studied in ALS patients and showed a favorable signal. However, due to the risks of pigmentation-induced vision impairment and other risk factors, it was withdrawn from the market in 2017.

CB03-154 is a new generation selective voltage-gated potassium channel (KCNQ2/3) opener, independently developed by Zhimeng. Compared with the first-generation potassium channel opener ritigabine, CB03-154 has superior selectivity and stability. In vitro studies have confirmed that CB03-154 can significantly reduce the excessive excitation of iPSC motor neurons from ALS patients. Moreover, in the SOD-1 ALS transgenic mouse model, daily oral administration of CB03-154 (10 mg/kg) can effectively prolong the survival time, delay the onset, improve motor ability, alleviate neuronal damage, and slow down the rate of muscle atrophy.

The initiation of this Phase 2/3 clinical trial is a significant step for CB03-154 in the field of rare diseases, and it brought hopes to provide an important new treatment option for ALS patients.

About Zhimeng 

Founded in 2018, Shanghai Zhimeng Biopharma, Inc. is a biopharmaceutical company dedicated to develop small-molecule drug discovery with focused on the functional cure of chronic hepatitis B (CHB), as well as novel therapies for CNS disorders, including epilepsy, neuropathic pain (e.g. cancer-related pain), amyotrophic lateral sclerosis (ALS), major depressive disorder (MDD), and bipolar disorder.

Disclaimer

This press release contains forward-looking statements. While Zhimeng considers the projections to be based on reasonable assumptions, these forward-looking statements may be called into question by a number of hazards and uncertainties, so that actual results may differ materially from those anticipated in such forward-looking statements.

For more information, please visit: www.corebiopharma.com 

NYSE Content Advisory: Pre-Market Update + Emera Celebrates NYSE Listing

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NEW YORK, Oct. 31, 2025 /PRNewswire/ — The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today’s NYSE Pre-market update for market insights before trading begins.

 

NYSE Content Advisory: Pre-Market Update + Emera Celebrates NYSE Listing

Ashley Mastronardi delivers the pre-market update on October 31st

  • Stocks are mixed Friday morning following fresh earnings from some of the magnificent seven. Amazon and Apple are both on pace to open in the green after favorable earnings from the two tech giants.
  • Investors are also monitoring the latest developments on trade after President Trump and Chinese leaders agreed to a one-year trade truce following a meeting in South Korea this week.
  • Wall Street is also looking toward the next Fed meeting in December after Chair Powell said on Wednesday that an additional rate cut this year was not a foregone conclusion.

Opening Bell
Emera (NYSE: EMA) celebrates its recent listing on the New York Stock Exchange

Closing Bell
Wipro (NYSE: WIT) celebrates its 25th anniversary of listing

Click here to download the NYSE TV App

 

BingX Bridges TradFi and Web3 at Blockchain Life 2025, Celebrates Top Industry Recognition

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PANAMA CITY, Oct. 31, 2025 /PRNewswire/ — BingX, a leading cryptocurrency exchange and Web3 AI company, marked a strong presence as a Strategic Sponsor at Blockchain Life 2025, the 15th International Forum on Web3, Cryptocurrencies, and Mining. Held on October 28–29 in Dubai, U.A.E., the event gathered attendees from 130 countries, spotlighting the next phase of digital finance and blockchain innovation.

BingX Bridges TradFi and Web3 at Blockchain Life 2025, Celebrates Top Industry Recognition
BingX Bridges TradFi and Web3 at Blockchain Life 2025, Celebrates Top Industry Recognition

BingX engaged participants through an interactive booth experience featuring community activities and merchandise giveaways, emphasizing its commitment to accessibility, education, and engagement within the blockchain ecosystem.

At the event, Vivien Lin, Chief Product Officer at BingX, was honored with the Blockchain Life Award 2025 for Top Woman in Crypto of the Year. The recognition underscores her leadership in driving BingX’s AI-powered product strategy and promoting inclusivity and innovation in Web3.

Receiving the award, Lin commented: “Being recognized as Top Woman in Crypto of the Year is an honor, and it highlights the growing presence and influence of women shaping the Web3 industry. It reflects how diverse leadership and perspectives are essential to driving balanced, thoughtful innovation in the digital asset space.”

Lucas L., Head of Fiat Business at BingX, participated in a Day 1 roundtable titled “Stablecoins and Banks: Connecting Crypto and Traditional Finance”. He examined how fiat and blockchain systems are converging to create a more efficient and accessible global financial infrastructure. Lucas underscored the critical role of exchanges in building robust systems for users across the community in risk management, user protection, and transparency within the stablecoin ecosystem, noting that BingX aims to make the bridge between traditional finance and blockchain safe, scalable, and sustainable.

About BingX 

Founded in 2018, BingX is a leading crypto exchange and Web3 AI company, serving a global community of over 20 million users. With a comprehensive suite of AI-powered products and services, including derivatives, spot trading, and copy trading, BingX caters to the evolving needs of users across all experience levels, from beginners to professionals. Committed to building a trustworthy and intelligent trading platform, BingX empowers users with innovative tools designed to enhance performance and confidence. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports sponsorship.

For more information, please visit: https://bingx.com/

Novo Tellus completes its transformative growth partnership with Grand Venture Technology

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Grand Venture Technology embarks on the next chapter of global growth as Aalberts completes the privatisation of the company

SINGAPORE, Oct. 31, 2025 /PRNewswire/ — Novo Tellus, a leading private equity fund focused on building industrial and technology companies, is pleased to announce the successful completion of its investment in Grand Venture Technology (“GVT” or the “Company”). 

Novo Tellus completes its transformative growth partnership with Grand Venture Technology
Novo Tellus completes its transformative growth partnership with Grand Venture Technology

Novo Tellus inaugurated its partnership with GVT in March 2021, when it invested in S$ 30 million at S$ 0.33/share to help fund a significant build-out of GVT’s manufacturing capacity and capabilities.

Over the last 4 years, Novo Tellus has worked closely with GVT to help grow the company’s capabilities, customers, vertical industries, capacity and productivity resulting in significant earnings and equity growth.

In July 2025, GVT announced an offer by global manufacturing leader Aalberts Advanced Mechatronics to acquire the company at a S$ 0.94/share.  The transaction was closed on 27 October 2025, marking the conclusion of a successful partnership between Novo Tellus and Grand Venture Technology.

Reflecting on the transformative growth at GVT over the last 4 years, CEO Julian Ng said, “we’re proud of what our management team accomplished in partnership with Novo Tellus, and with the support of our strategic customers and dedicated employees.

In the last 4 years, GVT has:

  • Grown into a leading manufacturing supplier for top global semiconductor equipment companies. We built a new factory in Penang, grew specialised manufacturing capabilities, and worked tirelessly with our customers to help them push the leading edge of semiconductor manufacturing today. One highlight of this effort was winning the “Best Supplier Award Recognition” from one of our strategic customers, LAM Research.
  • Completed 3 successful M&A acquisitions in Singapore, Malaysia and China to accelerate the buildout of our talent, capabilities and scale for our customers.
  • Grown our investor relations program and attracted new capital and support from global blue-chip asset managers.

 

From left to right: Julian Ng, CEO of Grand Venture Technology; Loke Wai San, Managing Partner of Novo Tellus; Ricky Lee, Executive Deputy Chairman of Grand Venture Technology
From left to right: Julian Ng, CEO of Grand Venture Technology; Loke Wai San, Managing Partner of Novo Tellus; Ricky Lee, Executive Deputy Chairman of Grand Venture Technology

We will miss working with our trusted partners at Novo Tellus, but look forward to being a meaningful part of Aalberts to advance their global manufacturing business successfully in Asia“.

“We’ve been privileged to have worked with the talented leadership at Grand Venture Technology”, said Loke Wai San, Managing Partner of Novo Tellus, adding that “although we are proud to have been partners in such transformative growth, we are grateful to Executive Deputy Chairman Ricky Lee, CEO Julian Ng, and all the leaders and employees of GVT for their relentless efforts to realise an ambitious vision of GVT’s future in the last few years.

We thought it appropriate this year that Julian Ng and Robby Sucipto won the ‘CEO of the Year’ and ‘CFO of the Year’ awards respectively at the Singapore Corporate Awards 2025, a worthy recognition of their enormous accomplishments in the last few years.

Grand Venture Technology embodies the Novo Tellus aspiration to build lasting businesses, and we hope our stewardship has created the foundations and momentum for lasting growth as GVT flourishes under the ownership of Aalberts NV going forward”.

About Grand Venture Technology

Founded in 2012, GVT is a fast-growing and trusted solutions and services provider for the manufacture of complex precision machining, sheet metal components and mechatronics modules. Its manufacturing plants in Singapore, Penang and Johor (Malaysia), and Suzhou (China) are backed by the latest automated manufacturing technologies, Class 10,000 cleanroom facilities and a certified quality management system. The Group’s highly experienced and dedicated team of engineering talent serves a strong global network of established partners and suppliers with a wide range of engineering, assembly, testing and product life cycle management solutions. GVT’s portfolio of customers hail from the semiconductor, electronics, analytical life sciences, aerospace, medical and industrial automation industries, and represent some of the largest OEMs in their respective markets. To learn more about Grand Venture Technology, visit gvt.com.sg

About Novo Tellus

Novo Tellus is a private equity firm focused on building lasting technology and industrial companies in Southeast Asia. The firm is distinguished by its deep insight into shifts in the global technology ecosystem, and by its active and empathic partnerships with management teams to build lasting businesses and superior investment returns.

To learn more about partnering with Novo Tellus, visit novotellus.com

Bybit Launches “The Ultimate Gold Mine” in Grand Year-End Daily Treasure Hunt Event

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DUBAI, UAE, Oct. 31, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is thrilled to announce the launch of its year-end edition of the Daily Treasure Hunt: The Ultimate Gold Mine. The event marks the grand finale of Bybit’s 2025 reward campaigns, offering users an opportunity to unearth legendary digital treasures through trading and earning activities.

Event Schedule

  • Pre-registration Opens:October 31, 2025, at 10:00 a.m. UTC
  • Main Event Period:November 7, 2025, at 10:00 a.m. UTC – December 22, 2025, at 9:59 a.m. UTC
  • Points Redemption Deadline:December 25, 2025, at 11:59 p.m. UTC

This year’s edition introduces two distinct “tunnels to treasure”—the Trade Task Vein and the Earn Task Vein. The Trade Task Vein allows users to execute trades to earn consistent rewards, while the Earn Task Vein provides a low-risk, accessible way for participants to complete simple tasks and securely grow their points.

At the heart of The Ultimate Gold Mine lies a 300,000 USDT prize pool, distributed through the Points Plaza Exchange and Unlimited Mining Cards. Users can redeem points for a share of the prize pool, scratch unlimited cards for bonus prizes, and uncover “Legendary Finds” including Bitcoin (BTC) rewards of up to $10,000, Boost Coupons, VIP trial passes, and other exclusive bonuses.

Participants’ points will accumulate daily throughout the event, with consistent engagement yielding higher potential rewards. The structure encourages early participation and sustained activity, turning daily efforts into a year-end windfall.

For further information and full terms and conditions, participants may refer to the official event page on Bybit’s website.

Disclaimer
Eligibility requires identity verification, and participation is restricted in certain jurisdictions, including the European Economic Area. Full details, including restrictions and terms of participation, are outlined in the official Terms and Conditions.

#Bybit / #TheCryptoArk

Bybit Launches “The Ultimate Gold Mine” in Grand Year-End Daily Treasure Hunt Event
Bybit Launches “The Ultimate Gold Mine” in Grand Year-End Daily Treasure Hunt Event

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media
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Sinopec and BASF Mutually Recognize Product Carbon Footprint Accounting Methods, Sets New Benchmark for Industry Standardization

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NINGBO, China, Oct. 31, 2025 /PRNewswire/ — China Petroleum & Chemical Corporation (HKG: 0386, “Sinopec”) and BASF jointly declared the alignment on the core requirements of carbon footprint accounting methods and reached framework-based mutual recognition of methodologies at the 2025 China International Petroleum and Chemical Conference (CPCIC 2025) hosted from October 22 to 24 in Ningbo.

Sinopec and BASF Mutually Recognize Product Carbon Footprint Accounting Methods, Sets New Benchmark for Industry Standardization.
Sinopec and BASF Mutually Recognize Product Carbon Footprint Accounting Methods, Sets New Benchmark for Industry Standardization.

The consensus, as a corporate example for China’s push to achieve international convergence and mutual recognition of product carbon footprints, marks a key step in low-carbon transformation cooperation between Chinese and German chemical enterprises, taking the lead in establishing mutual trust in product carbon footprint data between Chinese and foreign companies.

Sinopec and BASF jointly commissioned globally leading third-party certification body TÜV Rheinland to conduct a consistency review of both parties’ methodologies. After multiple rounds of evaluations, TÜV Rheinland confirmed that both methodologies comply with international standard ISO14067:2018 and China national standard GB/T 24067–2024, and remain consistent in core elements. A formal consistency statement was issued, leading both parties to a mutual recognition consensus for their product carbon footprint accounting methods.

This move will significantly enhance the comparability and transparency of carbon footprint data across regions and value chains, improve data utilization efficiency, promote coordinated carbon reduction in the industry chain, and contribute to the green, high-quality development of both enterprises and the wider industry.

Sinopec has been at the forefront product carbon footprint management. In 2015, it was China’s first to launch research on product carbon footprint accounting, initially developing a methodological framework for petrochemical products. In 2023, Sinopec achieved China’s first automated carbon footprint accounting for petroleum and chemical products.

In 2024, together with CNPC, CNOOC, PipeChina, and four other enterprises, it initiated and formed China’s first Carbon Footprint Alliance for the energy and chemical industry chain, working collaboratively to reduce emissions across the supply chain.

Since 2021, China has been gradually building a carbon footprint management system and exploring the establishment of standards for products’ full life-cycle carbon footprint, with the goal of preliminarily establishing such a system by 2027 and publishing national product carbon footprint accounting general standards in line with international practice.

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