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Meituan scrambles on “Super Saturday” as Taobao Shangou tops 80 million daily orders

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Pulses

Chagee returns to Vietnam after boycott

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Chagee
Chinese tea chain Chagee has reopened in Ho Chi Minh City after a boycott in March tied to its mobile app. The company has launched a new store and is offering discounts to regain customers.

Nvidia cleared to sell H20 chip in China

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WSJ
Nvidia said it has US approval to resume H20 chip sales to China under license, reversing an April restriction days after CEO Jensen Huang met with President Donald Trump. A downgraded chip based on the Blackwell architecture is also being prepared to meet US export rules. Sales of top-tier chips remain restricted.

Tesla, Waymo to lead US robotaxi growth

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TrendForce
The US robotaxi market is projected to reach USD 36.5 billion by 2035, co-led by Tesla and Waymo, according to TrendForce. Tesla’s growth will depend on regulatory approval and mass production of its Cybercab by 2026. In China, the market is expected to hit USD 44.5 billion, driven by robust supply chains and active local players.

ByteDance working on MR headset

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Sina
ByteDance is reportedly developing a lightweight mixed reality headset resembling goggles, according to sources familiar with the matter. The move comes as Meta also works on a similar device, slated for release in 2027. ByteDance has yet to respond to requests for comment.

JD.com joins short drama hiring race

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China Star Market
JD.com is offering up to RMB 1.4 million in annual salary to hire short drama content strategists, ramping up efforts to merge entertainment with e-commerce. Following earlier moves by Alibaba and Pinduoduo, JD.com plans to build an IP-driven production system and use data to boost user retention and platform traffic.

Chinese firms lead convertible bond boom

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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%

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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.
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