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Chinese firms lead convertible bond boom

just now
Bloomberg
Asia’s convertible and exchangeable bond sales have surged past USD 30 billion in 2025, led by Chinese firms tapping strong equity markets and low-cost funding. Major issuers like Baidu, Alibaba, and Ping An Insurance offered zero-interest deals. Analysts say demand remains strong, barring disruption from geopolitical risks.

Africa embraces stablecoins for trade

just now
Semafor
Stablecoins are gaining ground in Africa as businesses adopt them for cross-border payments. With global banks deprioritizing the continent, on-chain dollars could offer faster, cheaper, and more accessible alternatives, positioning stablecoins as emerging infrastructure for trade and financial autonomy.

BMW, Momenta to co-develop China ADAS

just now
Sina
BMW is partnering with Chinese tech firm Momenta to co-develop an AI-powered driver assistance system tailored for China. The system will offer point-to-point assist across urban and highway routes, combining BMW’s safety architecture with Momenta’s AI. It will launch on next-gen China-made BMW vehicles.

TikTok seeks talks to avoid Canada shutdown

just now
Bloomberg
TikTok is pushing for urgent talks with Canadian officials to avoid a shutdown of its local operations, warning it may need to lay off staff and halt investment. The company has proposed a Canada-specific data security plan but says it has yet to receive a government response. TikTok employs 350 people in Canada and serves around 14 million users.

Cognition acquires remainder of Windsurf

just now
Bloomberg
Cognition AI has acquired what remains of AI coding startup Windsurf, including IP, staff, and assets. The deal follows Google’s hire of Windsurf’s co-founder and CEO, after a prior USD 3 billion acquisition by OpenAI collapsed amid tensions with Microsoft. Windsurf reported USD 82 million in ARR, and all remaining employees will share in the deal.

Nvidia CEO promotes AI growth in Beijing

just now
Nvidia
Nvidia CEO Jensen Huang met with government and industry leaders in Beijing to promote AI’s role in boosting productivity and innovation. He said Nvidia is reapplying to sell its H20 GPU in China and introduced a new RTX Pro chip for smart factories. Huang also emphasized global collaboration and open-source AI development.

Huawei plans Level 4 robotaxi use by 2028

just now
Guancha
Huawei has shared a timeline for autonomous driving, targeting Level 3 highway rollout and pilot Level 4 use in urban areas, with full deployment by 2028. Execs emphasized safety and sensor fusion over vision-only approaches, adding that driverless logistics could begin as early as 2027.

Xpeng AeroHT raises USD 250 million

just now
Xpeng AeroHT
Xpeng AeroHT has raised USD 250 million in Series B funding to support the R&D, mass production, and commercialization of its flying cars. Its production facility has reportedly topped out and is slated for completion in Q4 2025. The “Land Aircraft Carrier” model is expected to enter mass delivery in 2026.

Robotaxis may grab 6% of China’s market

just now
SCMP
Robotaxis could eventually account for 6% of China’s taxi and ride-hailing market, totaling USD 40 billion annually, according to HSBC. Backed by strong digital infrastructure and tech-savvy consumers, pilot fleets are expanding—but high fleet, AI, and operating costs could delay breakeven by 7–8 years.

Yonghui shuts 227 stores, forecasts H1 loss

just now
Jiemian News
Yonghui Superstores has projected a net loss of RMB 240 million for H1 2025 after closing 227 stores and overhauling 93 others. Core earnings are expected to show a deeper loss of RMB 830 million as the retailer enters what it described as a year of deep transition. It plans to revamp 200 stores by September and has registered new trademarks as part of a brand reset.

Hesai appeals US ruling on military ties

just now
Nikkei Asia
Hesai Technology has appealed a US court ruling upholding its inclusion on a Pentagon military blacklist. The court cited evidence of links to China’s defense sector, though Hesai said no proof showed its technology was used militarily. The company denies all military ties and is pursuing further legal action.

JD Health, Innovent sign supply deal

just now
China Securities Journal
JD Health and Innovent Biologics signed an agreement on July 14 to deepen collaboration across supply chain, sales, and digital marketing. The deal supports access to treatments like mazdutide and GLP-1 drugs, with JD offering cold chain delivery in over 300 cities.

OpenAI delays open-weight model launch

just now
OpenAI
OpenAI has delayed the planned launch of its open-weight AI model, CEO Sam Altman wrote in an X post on July 12, citing the need for further safety testing and review of high-risk areas. He noted the release is irreversible and “we want to get it right.” No new timeline has been set.

BreadTalk shuts all Chengdu stores

just now
Jiemian News
BreadTalk has closed all 11 of its stores in Chengdu, drawing complaints from prepaid card users unable to claim refunds. A June notice cited planned renovations, but users say contact lines are unreachable and refund procedures unclear. The company had previously exited Xi’an under similar circumstances, sparking consumer frustration.

Temu hikes prices in Pakistan by 300%

just now
Nikkei Asia
Temu has raised prices in Pakistan by up to 300% after the government imposed a 5% digital tax on foreign online sellers without local operations. Items like sunglasses and electronics have reportedly tripled in price. Experts warn the burden falls on consumers and may stall Pakistan’s e-commerce market.

ITC judge says Insta360 infringed GoPro

just now
The Verge
A US ITC judge ruled Insta360 infringed GoPro patents tied to the Hero camera design and HyperSmooth stabilization. Insta360 disputes the finding, saying five GoPro utility patents were found invalid, not infringed, or both. The initial decision stems from a 2024 complaint, with a final ruling due by November 10.

DJI drones vanish from US shelves

just now
Nikkei Asia
Chinese drone maker DJI's products are disappearing from US stores and its official site amid tariff-driven scarcity. The company has delayed launches like the Mavic 4 Pro and flagged inventory issues, while products remain available abroad. A pending US security probe adds further uncertainty.

Former DingTalk chief Ye Jun exits Alibaba

just now
Sohu
Ye Jun, former president of Alibaba's DingTalk, has confirmed his exit. He oversaw DingTalk’s cloud integration, enterprise strategy, and AI rollout. After his March transfer, founder Chen Hang returned as CEO to refocus on product quality, user experience, and monetization.

China Eastern, Starbucks link loyalty programs

just now
Sina
China Eastern Airlines and Starbucks China have launched a loyalty tie-up linking Eastern Miles and Starbucks Rewards. Members can access cross-platform perks including bonus miles, coffee, and in-flight Wi-Fi. As part of the tie-up, special boarding passes and Yunnan-themed flights roll out from July 14 across six airports.

Musk rules out merging Tesla with xAI

just now
CNBC
Elon Musk said he does not support a merger between Tesla and xAI, responding to speculation about closer ties between his companies. The comment follows earlier hints of a shareholder vote on Tesla investing in xAI, developer of the Grok chatbot.
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