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Ximalaya’s swan song plays out in a USD 2.9 billion Tencent buyout

4 mins read

Pulses

Hong Kong to revise drone testing rules

just now
SCMP
Hong Kong plans to revise laws to allow broader testing of high-capacity drones, aiming to boost logistics and develop its low-altitude economy, deputy financial secretary Michael Wong said. The move builds on a sandbox initiative launched in 2024 and looks to mirror progress seen in mainland China.

China drafts rules on car data exports

just now
Bloomberg
China has issued draft rules on exporting automotive data, clarifying how assisted driving systems from companies like Tesla can legally transmit critical vehicle data abroad. The move may accelerate Tesla’s FSD rollout in China, where local approvals and partnerships have so far limited deployment.

Abu Dhabi’s G42 expands into Europe

just now
Bloomberg
Abu Dhabi-based AI firm G42 has launched a European unit in London to deploy AI solutions and partner with governments and industry on infrastructure projects. The move follows UAE tech investments across Europe and G42’s deepening collaboration with Nvidia on advanced data centers.

HarmonyOS gains ground amid US curbs

just now
SCMP
Huawei has shipped more than 103 million smartphones and 21 million tablets running HarmonyOS, nearly half of them in 2024, according to Canalys. The proprietary OS now powers over one billion devices as Huawei pivots from US tech, expanding into PCs after losing access to Windows. While app ecosystem gaps remain, investment in developer support is growing.

ASEAN rail trade stalls, eyes revival

just now
CNA
The ASEAN rail corridor faces delays as customs hurdles and mismatched rail gauges disrupt cargo flows, stalling the express service months after launch. While Laos’ China-backed railway shows promise, reviving regional freight links will require unified standards and stronger cross-border cooperation. A Malaysia-led plan aims to cut shipping times and boost trade to USD 4.5 trillion by 2030.

JD.com revamps store rating system

just now
Ebrun
JD.com has revised its store rating rules, renaming the system and eliminating rank-based calculations. New assessment metrics include return rates and delivery performance, with logistics now carrying more weight. The updated ratings will influence store visibility, search placement, and access to marketing programs.

US says Huawei chip output is capped

just now
Reuters
Huawei is expected to produce no more than 200,000 Ascend AI chips in 2025, a US official said on June 12, warning that China is closing the tech gap despite export controls. Most of the chips will go to Chinese buyers as Beijing ramps up AI investment to rival US firms like Nvidia.

AstraZeneca, CSPC ink drug R&D deal

just now
AstraZeneca
AstraZeneca and CSPC Pharmaceutical have signed a research deal worth up to USD 5.3 billion to co-develop oral therapies for chronic and immunological diseases. CSPC will lead discovery in China using AI-driven tools, while AstraZeneca gains global licensing rights. The partnership follows AstraZeneca’s USD 2.5 billion Beijing investment in March.

Baidu launches AI search for businesses

just now
GeekPark
Baidu has launched an AI search service through its AppBuilder platform, combining real-time retrieval with generative summaries powered by its core engine. The tool supports multimodal, secure, and customizable data access for industries including finance, government, and tourism, with daily free quotas and tiered pricing.

Tecno inks Spain distribution deal

just now
Transsion
Transsion’s Tecno has partnered with Spanish distributor MCR to roll out its AIoT product line, including laptops, gaming PCs, and smart wearables. The deal grants access to a 10,000-strong distributor network and advanced logistics, supporting Tecno’s push into the European market.

TikTok hits overseas user milestone

just now
IT Zhijia
ByteDance's TikTok surpassed one billion overseas monthly users in May, according to Sensor Tower. AI-powered tools, e-commerce platforms, and short drama apps also gained in Southeast Asia and Latin America, driven by localized content and enhanced recommendation algorithms.

China’s grocers slash stores to stem losses

just now
Ebrun
Nearly half of China’s listed supermarket chains posted losses in 2024, with over 900 store closures as firms scrambled to adapt. While Walmart and Sam’s Club bucked the trend, others launched aggressive overhauls, adopting leaner models and benchmarking top performers to stay competitive.

Peel-apart film returns as retro trend in China

just now
CNA
Once discontinued, peel-apart film is making a comeback in China as Gen Z consumers embrace its rarity and vintage aesthetic. Promoted by celebrities and photo studios, the unpredictable medium now commands steep prices, with some paying over RMB 900 for just three shots, despite expired stock and no option for reshoots.

Meta takes 49% stake in Scale AI

just now
Bloomberg
Meta has reportedly taken a 49% non-voting stake in Scale AI for USD 14.3 billion and brought CEO Alexandr Wang onto its AI team. The move bolsters Meta's "superintelligence" ambitions as it works to close gaps with OpenAI and Google after underwhelming model releases.

Douyin revises deposit policy for merchants

just now
Ebrun
Douyin E-commerce has updated its deposit policy to lower onboarding costs, offering zero-deposit entry for new sellers and cutting existing deposit tiers by up to 75%. Deposits apply only after 200 orders or RMB 10,000 in sales, and merchants may now withdraw excess balances on a weekly basis.

Nvidia CEO: Big decade ahead for autonomous tech

just now
CNBC
Nvidia CEO Jensen Huang said autonomous vehicles, robotics, and machines are set to surge this decade, calling it a defining era for autonomous tech. Speaking at the Viva Technology conference in Paris, Huang noted Nvidia’s role in the space, supplying both hardware and software to players in the sector.

Trump eyes tariff pressure on automakers

just now
Reuters
US President Donald Trump said on June 12 that he may raise tariffs on imported cars, arguing that higher rates would encourage automakers to expand US production. He cited recent commitments from GM and Hyundai as evidence the strategy works. Industry players have pushed back, with Ford and Subaru warning of rising costs, while GM has estimated USD 4–5 billion in tariff exposure.

SenseTime, ByteDance launch model upgrades

just now
SCMP
ByteDance and SenseTime have unveiled a new round of AI upgrades. ByteDance launched the Doubao 1.6 series with multimodal reasoning and cut token prices by over 60%, while SenseTime enhanced its chatbot Sensechat with real-time video, audio, and visual reasoning capabilities. The rollout follows recent updates from DeepSeek, Baidu, and Alibaba.

Leapmotor defends pricing amid EV shakeout

just now
National Business Daily
Leapmotor CEO Zhu Jiangming said the company will steer clear of EV price wars, calling recent discounts more promotional than structural. Backed by strong cost control and stable pricing, Leapmotor is targeting 50,000–80,000 overseas sales this year and plans to ramp up local production in Europe. The EV maker is expanding globally, having recently opened its first store in Hong Kong.

Arm CEO joins Nvidia’s call to rethink chip curbs

just now
Bloomberg
Arm CEO Rene Haas warned that US semiconductor export restrictions could stifle global innovation and hurt consumers, while accelerating China’s drive for self-reliance. Speaking in Oxford, Haas echoed Nvidia CEO Jensen Huang’s stance, saying forced decoupling “makes the pie smaller” and poses long-term risks to US industry.
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