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Analysis: China’s roadmap to integrate AI across its economy through 2035

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Musk denies Tesla robot supply rumor

just now
Jiemian News
Elon Musk denied reports of a Tesla deal to supply 10,000 robots to PharmAGRI, while detailing progress on Optimus 3. Tesla is piloting Optimus 2.5 and expects mass production to begin by year's end, with output goals of up to 100,000 units by 2027. Musk called Optimus central to Tesla’s latest "master plan" and said it could eventually represent most of the company’s value.

Zijin Gold to spin off, list in Hong Kong

just now
Nikkei Asia
Zijin Gold International, the overseas arm of Zijin Mining, has filed for a Hong Kong IPO of up to HKD 24.9 billion. The spinoff will see the parent firm exit overseas gold mining, with proceeds earmarked for a Kazakhstan acquisition and project upgrades. Trading begins September 29.

Stelato S9T nets 7,500 orders on debut

just now
Jiemian News
HIMA and BAIC’s Stelato S9T sedan drew more than 7,500 orders within 24 hours of launch, a record for the brand. Priced at RMB 309,800–369,800, the four-model lineup offers up to 1,305 kilometers of range and comes with Huawei’s ADS 4.0 system. Deliveries begin September 21.

DeepSeek discloses low R1 training bill

just now
Reuters
Chinese AI developer DeepSeek said training its R1 model cost USD 294,000 on 512 Nvidia H800 chips, according to Nature. The low figure, far below US peers’ costs of more than USD 100 million, renews scrutiny of DeepSeek’s chip access, data sourcing, and use of distillation techniques.

Didi to invest in Brazil food unit

just now
Nikkei Asia
Didi Chuxing will invest BRL 2 billion in its Brazilian food delivery arm 99Food by 2026, expanding to 20 cities and offering couriers vehicles and credit. The Latin America push highlights Didi’s shift abroad as growth slows in China and competition from Meituan and Alibaba rises.

Lithium and nickel prices slump on glut

just now
Nikkei Asia
Lithium, nickel, and cobalt prices are sliding as global output outpaces EV demand. Lithium carbonate has dropped 37% since March 2024, while nickel futures are down 29%. With production surging in China, Africa, and Indonesia, analysts expect lithium oversupply to last until 2032 despite long-term growth projections.

Alibaba launches rival to Deep Research

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SCMP
Alibaba has launched an open-source deep research AI agent with 30 billion parameters, touting efficiency gains over US rivals. Integrated into Amap and Tongyi FaRui, it reportedly outperformed OpenAI’s Deep Research on benchmarks and is gaining traction on Hugging Face, though its context length remains a limit.

Nvidia, Intel form new chip alliance

just now
Bloomberg
Nvidia will invest USD 5 billion in Intel and co-develop chips for PCs and data centers, the companies said. The deal, which values Intel shares at USD 23.28 each and targets a potential USD 50 billion market, sparked Intel’s biggest stock surge since 1987 as the firm seeks new products and capital support.

China’s SAIC trims role in India JV

just now
Reuters
SAIC Motor is set to cut its 49% stake in its Indian joint venture with JSW Group and halt new investment, people familiar with the matter said. The move follows India’s curbs on Chinese funding, unresolved regulatory reviews, and partner frictions, highlighting the strain on cross-border automotive ventures.

Huawei maps path to AI self-reliance

just now
SCMP
Huawei outlined plans for a computing cluster built on Ascend processors, targeting exaflop-scale performance by 2027. The disclosure, made as US-China tech tensions deepen, underscores Beijing’s drive to cut reliance on foreign chipmakers such as Nvidia while expanding domestic capacity.

China orders tech giants to halt Nvidia chip buys

just now
Financial Times
China’s internet regulator has ordered major tech firms, including Alibaba and ByteDance, to halt testing and purchases of Nvidia’s RTX Pro 6000D, according to people familiar with the matter. Regulators concluded domestic AI processors now match Nvidia’s China-only models, underscoring Beijing’s drive to reduce reliance on US chips and accelerate local semiconductor adoption.

ByteDance’s Doubao widens lead over DeepSeek

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SCMP
ByteDance-owned Doubao remained China’s top AI app in August with 157 million MAUs, up 6.6% from July, according to QuestMobile. DeepSeek’s chatbot slipped 4% to 143 million users, with many switching to Doubao, which has added features such as real-time video calls. Tencent’s Yuanbao and Ant Group’s AQ health app both gained traction to join the top ten ranking.

Carro raises funding to boost Japan car sales

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Carro
Carro, an online automotive marketplace, has raised USD 60 million in a round led by Cool Japan Fund with participation from new investors. The company plans to use the funds to grow demand for Japanese vehicles across seven markets, where it says it handles more than 100,000 car transactions annually. Founded in 2013, Carro also offers financing, insurance, and after-sales services.

Alibaba wins China Unicom deal in chip push

just now
Bloomberg
Alibaba has secured China Unicom as a customer for its Pingtouge AI accelerators, which will be deployed at a new Qinghai data center, according to CCTV. The deal signals traction for Alibaba’s semiconductor unit as it invests RMB 380 billion over three years in AI infrastructure. Unicom said the chips outperform Huawei’s Ascend 910B in some areas, though Huawei is moving forward with its newer 910C model.

Chery launches Hong Kong share offering

just now
SCMP
Chery, China’s second largest carmaker by volume, plans to raise up to HKD 9.14 billion through a Hong Kong IPO. The offering covers 297.4 million shares priced at HKD 27.75–30.75, with trading set for September 25. Proceeds will fund R&D, overseas expansion, and facility upgrades, with cornerstone investors including JSC International Investment Fund and Hillhouse Group.

Vietnam’s Dat Bike secures Series B funding

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Dat Bike
Dat Bike, a Vietnamese electric motorbike manufacturer, has raised USD 22 million in a Series B round led by Japan’s FCC and Rebright Partners, with participation from Jungle Ventures, Cathay Venture, and AiViet Venture. The company will use the funds to scale production, advance R&D, and strengthen partnerships with ride-hailing and financing providers.

Weixin Pay adds cross-border payment support

just now
Tencent
Tencent has launched a cross-border payment gateway to expand Weixin Pay’s support for international travellers in China. Through TenPay Global, wallets including PayPal, Venmo, GrabPay, and ShopeePay are now connected, enabling users to scan Weixin Pay QR codes or present their own wallet QR codes at millions of mainland merchants.

Li Auto to launch “shark-like” i6 SUV

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Li Auto
Li Auto will debut the i6 five-seat SUV on September 26, featuring a "shark-like" design, two-tone body, and compact frame. The model provides over 3.3 meters of interior space and combines low-drag aerodynamics with a low center of gravity to improve efficiency, range, and handling.

Biotech startup Terra Oleo exits stealth

just now
Terra Oleo
Terra Oleo, a Singapore-based biotech startup, has exited stealth with USD 3.1 million in seed funding and selection to Breakthrough Energy’s Fellows program. Investors include ADB Ventures, The Radical Fund, Elev8.vc, Better Bite Ventures, and an undisclosed palm oil player. The company uses microbial fermentation to produce palm oil and cocoa butter alternatives from agro-industrial waste and is moving to scale lab technologies with testing agreements in place with global consumer goods firms.

Meituan’s Keeta expands to Kuwait

just now
IT Zhijia
Meituan’s international food delivery brand Keeta launched in Kuwait on September 15, its third Gulf hub after Saudi Arabia and Qatar. The company said it will replicate its ecosystem model by providing services for consumers, merchants, and riders, while continuing to explore new overseas markets.
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