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US markets soared on May 12 after a 90-day tariff rollback deal between the US and China eased fears of a prolonged trade conflict. The S&amp;P 500 ro…

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Photo of Venetia Lee, CEO of AlipayHK and general manager of Ant International for the Greater China region.

Alipay, a fintech platform by Ant Group, offers mobile payments, financial services, and e-commerce integrations, supporting transactions globally.

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Ant Group, a fintech powerhouse, offers digital payments, wealth management tools, and micro loans, enabling borderless, mobile-first financial services.

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US markets soared on May 12 after a 90-day tariff rollback deal between the US and China eased fears of a prolonged trade conflict. The S&amp;P 500 rose 3.3%, the Nasdaq jumped 4.3%, and the Dow added over 1,100 points. Tech giants led the rally as investors responded to the unexpectedly deep tariff cuts.

Tencent Music Entertainment Group reported Q1 2025 revenue of RMB 7.36 billion (USD 1.01 billion), reflecting an 8.7% year-over-year increase. Online music services led growth with a 15.9% rise to RMB 5.8 billion (USD 800 million), driven by strong gains in music subscriptions. Paying users grew 8.3% to 122.9 million, while average revenue per paying user (ARPPU) climbed to RMB 11.4 from RMB 10.6 a year earlier.

JD Logistics reported Q1 adjusted profit of RMB 750 million (USD 104 million), up 13.4% year-on-year, supported by new facilities in Warsaw and Hong Kong and a Shenzhen–Bangkok air cargo route. JD Health saw revenue rise 25.5% to RMB 16.65 billion (USD 2.34 billion), fueled by demand for AI-powered healthcare and new drug listings.

JD.com reported Q1 2025 net income of RMB 301.1 billion (USD 41.5 billion), a 15.8% year-over-year increase fueled by strong segment performance. Electronics sales grew 17.1%, while daily essentials rose 14.9%. The supermarket category marked its fifth consecutive quarter of double-digit growth. Operating profit climbed 36% to RMB 10.5 billion (USD 1.5 billion), and adjusted EBITDA reached RMB 13.7 billion (USD 1.9 billion), surpassing market expectations.

BYD topped Tesla in European sales for April 2025, achieving 11,123 units sold across 14 markets, including Spain, Italy, France, the UK, and Germany. Tesla recorded 6,253 units by comparison. BYD's market share climbed sharply in the UK with a 654% year-over-year rise, and it captured 10% of Italy's market with 5,646 units sold from January to April.

Qianxing AI has introduced Zoe, China’s first AI-driven Agent for foreign trade. Zoe automates the entire sales pipeline—from market analysis and client sourcing to outreach and conversion tracking. According to Qianxing AI, Zoe achieves conversion rates more than ten times higher than traditional methods, signaling a breakthrough in trade development efficiency.

Tencent’s ima.copilot introduced a refreshed homepage featuring a <strong data-start="407" data-end="424">Knowledge Hub</strong> for seamless database access, targeted Q&amp;A, smart recommendations, and quick previews of original text. The update strengthens Tencent's knowledge ecosystem by integrating public knowledge bases with real-time search, enhancing visibility and simplifying information discovery.

<p data-start="267" data-end="636">XPeng Motors entered the Italian market during Milan Design Week, showcasing its P7+ sedan, AeroHT Voyager X2 flying car, and a humanoid robot at the ADI Design Museum. As Italy targets 1.3 million EVs by 2025 with state-backed incentives, XPeng’s presence in Italy cements its Southern Europe coverage, building on its foothold in Spain and over ten other countries.</p>

Moonshot AI is expanding Kimi’s capabilities into medical AI, aiming to improve search reliability in specialized fields. This move marks part of its broader strategy to optimize Kimi's ecosystem and explore Agent solutions. Industry insiders describe the medical application as early-stage, with core efforts on enhancing Kimi's data trustworthiness.

BYD's Brazil plant will be fully functional by December 2026 after delays linked to labour abuse investigations, according to Bahia officials. Assembly from imported kits will begin in 2025. The project, expected to generate 20,000 jobs, is key to BYD’s plan to turn a former Ford site into a 150,000-unit EV hub.

Transsion posted 10.3% revenue growth in 2024, but profits stagnated as rising supply chain costs and tighter competition squeezed margins. Once dominant in Africa, the smartphone maker now faces mounting pressure from <a href="/company/xiaomi">Xiaomi</a>, Realme, and others replicating its strategy in emerging markets.

Targeted dialogues and policy consultations at BIIT paved the way for Chinese firms to expand globally.

BIIT 2025 unlocks market access through strategic negotiations

CHENG Zi is based in China, covering technology and business-related events. She works with her colleagues at 36Kr Global to provide coverage in both English and Chinese.

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Transsion’s localization playbook made it a leader in markets others ignored. Now, competitors are catching on.

Once untouchable in Africa, Transsion now faces a wave of challengers

36Kr is China's most influential business and technology network, delivering high-quality content focused on China’s innovation and new economy trends since 2010. With its extensive traffic and network, 36Kr has built a comprehensive database and strong data analytics capabilities to provide insights into China’s technology landscape.

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What guides machine-led insights? Uncover AI applications, language models, and decision-making systems transforming sectors worldwide.

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What lies beyond familiar frontiers? Investigate emerging tech—like quantum computing and AI—transforming traditional sectors.

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AI buzzwords fade fast, but with the right timing and utility, MCP could stick.

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