FB Pixel no scriptKrASIA | Decoding China's tech and business pulse
MENU
KrASIA

News

Airwallex raises USD 300 million, eyes IPO readiness and AI-led finance

5 mins read

Pulses

US bonded warehouse rents quadruple on tariff fears

just now
Reuters
Bonded warehouse rents have quadrupled in 2025 as US firms rush to store Chinese goods and defer Trump-era tariffs. The country has over 1,700 bonded sites, now strained by record demand. Certification delays exceed six months, and conversion costs vary widely from four- to six-figure USD sums, highlighting the growing financial and logistical stakes of trade uncertainty.

Stargate UAE kicks off OpenAI’s global AI plan

just now
OpenAI
OpenAI has launched Stargate UAE, an AI campus in Abu Dhabi and the first international deployment of its Stargate platform. Backed by G42, Oracle, Nvidia, Cisco, and SoftBank, the site will include 200 MW of compute in 2026. The project marks the launch of OpenAI’s global initiative to help governments build sovereign AI in coordination with the US.

Beijing urges Netherlands to loosen chip rules

just now
Bloomberg
China has asked the Netherlands to ease semiconductor export restrictions, Dutch foreign minister Caspar Veldkamp said after talks in Beijing. The Netherlands, home to chip tool giant ASML, reaffirmed its stance on national security and independent licensing. Both sides agreed to keep semiconductor trade on the agenda amid broader cooperation talks.

Xiaomi positions XringO1 as Apple A18 rival

just now
SCMP
On May 22, Xiaomi unveiled the Xring O1, a ten-core SoC with 19 billion transistors built on a three-nanometre process. Powering the new 15S Pro and Pad 7 Ultra, the chip reportedly matches Apple’s A18 Pro in performance and surpasses it in select benchmarks. The Xring O1 marks a milestone in Xiaomi’s R&D, backed by RMB 13.5 billion over four years.

China pushes EV collaboration at UAE congress

just now
Xinhua
At the WNEVC UAE session, Chinese officials called for deeper global collaboration in EVs and urged firms to tailor offerings to local markets. They highlighted a 30% rise in Hainan-UAE trade in 2024, driven by a new Yangpu-Abu Dhabi shipping route. China’s leadership in green growth was underscored by its dominant share of the 585 GW in new global renewable capacity.

Shein warns EU fees, French bill will raise prices

just now
Reuters
Shein warned that French shoppers could face price hikes of up to EUR 12 per order by 2030 if the EU enacts a EUR 2 handling fee on direct e-commerce shipments and France enacts a bill penalizing fast fashion. A Shein spokesperson criticized the proposals, which target low-cost platforms like Shein and Temu, and called for dialogue with public officials.

China’s EU investment rebounds in 2024

just now
36Kr Chuhai
Chinese direct investment in Europe rose 47% to EUR 10 billion in 2024, ending a seven-year decline, according to MERICS and Rhodium Group. Greenfield projects drove the rebound, led by EV and battery investments in Hungary. CATL, Tencent, and BYD accounted for a large share. Hungary drew 31% of Chinese FDI, outpacing Germany, France, and the UK combined.

Quant fund Goku pitches AI training breakthrough

just now
SCMP
Chinese quant fund Goku Technologies has submitted a paper to NeurIPS detailing SASR, a new AI training framework it says outperforms mainstream methods like supervised fine-tuning and reinforcement learning. Co-developed with Shanghai Jiao Tong University and new AI unit AllMind, the work mirrors DeepSeek’s model and underscores China’s AI progress despite US tech curbs.

Xpeng enters Baltic EV market via Modus Group

just now
Xpeng
Xpeng has named Modus Group its exclusive partner for Estonia, Latvia, and Lithuania, marking its entry into the Baltic market. Sales will begin in Q3 2025 with the G6 and G9 SUVs. The move expands Xpeng's European footprint as it targets presence in over 60 countries by year-end, supported by local showrooms and after-sales networks.

Alibaba Cloud details AI investment strategy

just now
Wallstreet CN
At a May 22 event, Alibaba CEO Eddie Wu clarified that Alibaba Cloud’s planned RMB 380 billion investment over three years will include partnerships with firms such as Midea, GAC, and China Eastern Airlines. The initiative aims to build unified global AI and cloud infrastructure, expand deployment of products like Qwen, and support Chinese firms going global with stronger compliance and services.

Dimon says JPMorgan won’t retreat from China

just now
Bloomberg
JPMorgan CEO Jamie Dimon said the bank remains committed to long-term growth in China despite rising political pressure. Speaking in Shanghai, Dimon defended its role in CATL’s listing, citing thorough due diligence and client demand. JPMorgan continues to invest in the market, where it holds full control of key operations and sees renewed momentum in cross-border business.

Hong Kong stakes claim as hub for “patient capital”

just now
SCMP
At the inaugural HKIC forum, Financial Secretary Paul Chan said Hong Kong is well-positioned to become a global hub for “patient capital,” citing its legal system, market openness, and innovation strengths. The event drew 400 delegates managing over USD 20 trillion. State-owned HKIC has co-invested in more than 100 projects and plans deeper engagement in AI and deep tech.

Meinian, Damo team up on cancer screening AI

just now
Damo Academy
Meinian OneHealth and Alibaba’s Damo Academy have partnered to bring AI screening to health exams, targeting early detection of cancer and chronic diseases. The CT-based model, recently designated a breakthrough device by the FDA, has reportedly shown high accuracy in identifying pancreatic and gastrointestinal cancers and will now be piloted in routine checkups.

HSBC taps Ant International for blockchain treasury tool

just now
Ant International
Ant International and HSBC have launched a blockchain-based tokenized deposit service in Hong Kong, enabling round-the-clock HKD and USD transfers between corporate wallets. Ant is reportedly the first client to complete an instant intra-group transaction using its Whale platform, part of a broader push to digitize treasury operations with AI, encryption, and cross-chain tools.

AliExpress opens cross-border park in Dalian

just now
Science and Technology Daily
Alibaba announced its first AliExpress cross-border e-commerce industrial park in Northeast China on May 19, located in Dalian’s Hi-tech Zone. The 10,000-square-meter site is set to open in July and will serve as a logistics and export hub, offering full-cycle services to help local firms access global markets through Alibaba’s international network.

Meituan launches Keemart in Saudi Arabia

just now
Star Market Daily
Meituan has reportedly launched Keemart, the overseas brand of Xiaoxiang Supermarket, in Riyadh, marking its first retail venture abroad. Former senior executive Liu Wei is leading the rollout. While Meituan has yet to confirm the move, hiring is underway for procurement, operations, and business roles.

Qatar’s wealth fund eyes China, balances US ties

just now
Bloomberg
Qatar Investment Authority is actively exploring China investments while seeking to avoid friction with the US, a senior executive said at the Qatar Economic Forum. The comments follow scrutiny of recent AI-related Gulf deals and come as the USD 524 billion sovereign fund plans to double US outlays, pledging USD 500 billion over the next decade amid rising geopolitical tensions.

Lenovo posts record AI-led growth in FY25

just now
Lenovo
Lenovo reported FY25 revenue of USD 69.1 billion, up 21% YoY, with net income rising 36% to USD 1.4 billion. Growth was driven by AI PCs, smartphones, infrastructure, and enterprise solutions. The company now leads the Windows AI PC category and introduced new AI “super agents” under its hybrid AI strategy, achieving double-digit growth across all regions.

Xpeng to roll out AI chip, robot by 2026

just now
Wallstreet CN
Xpeng expects Q2 2025 deliveries of up to 108,000 units, a 257.5% YoY increase, and aims to turn profitable by Q4. The EV maker will roll out its self-developed Turing chip in Q3 and debut a humanoid robot in 2026. These are part of Xpeng's broader strategy to build a full-stack AI platform spanning autonomous driving, intelligent cockpits, and robotics.

China’s Shouguang to build UAE agri hub

just now
SCMP
Shouguang, China’s “vegetable capital,” will co-invest USD 33 million with UAE firm Silal to build a 100,000-square-meter smart agriculture center in Abu Dhabi. Tied to the Belt and Road Initiative, the project will deploy AI, robotics, and solar greenhouses to grow crops like tomatoes and melons in desert conditions, expanding China’s agritech footprint in the Middle East.
See All

Icon for Editor’s PicksEditor’s Picks

Insights

Beneath the bureaucracy: How state capital made (and remade) China’s venture ecosystem

A new model of state capital is taking root in China—one that’s redefining how venture capital works, from funding mechanics to policy alignment.

30 mins read
  • Features

    ByteDance launches Coze, its new AI agent platform, in beta

    8 mins read

Venture RoundupVenture Roundup

  • News

    Deals in brief: CrediLinq secures Series A funding, Vertex Ventures backs Quantified Energy, Ringkas raises 5.1 million, and more

    5 mins read
    • See All

    Automaker InsightsAutomaker Insights

    • See All

    Retail and CommerceRetail and Commerce

    • See All

    Icon for Casual ChroniclesCasual Chronicles

    Our EventsOur Events

    • See All