China’s EU investment rebounds in 2024

TikTok Shop’s Japan operations posted first-month GMV of just JPY 207,000, led by beauty and personal care categories. Despite access to 33 million monthly e-commerce users, the modest launch highlights the challenge of entering Japan’s market, where high consumer expectations require sellers to test demand and tailor content for visibility.

Xpeng unveiled the G7 SUV on July 3, offering up to 702 kilometers of range and 800-volt fast charging across three trims. The top-tier Ultra model includes three in-house AI chips supporting Level 3 processing and future vision-language-action (VLA) capabilities. VLA features will roll out in September, with cockpit upgrades to follow. Pricing starts at RMB 195,800.

Mexico has rejected BYD’s plans to build an EV factory near the US border, declining to provide land or subsidies amid pressure from Washington and ongoing trade talks. The project was expected to rival the scale of BYD’s Brazil plant and could have employed up to 10,000 people. The move stalls the Chinese automaker’s LATAM strategy despite surging sales and dealer expansion in Mexico.

China will bar online platforms from forcing vendors to cut prices below cost under an amended unfair competition law taking effect on October 15. The move reflects concern over deflation, shrinking margins for small businesses, and growing pressure on e-commerce platforms to reform pricing and fee structures.

Lazada’s Vietnam site will fully subsidize last-mile delivery fees for LazMall cross-border packages under 15 kilograms starting July 2. The policy applies nationwide across all categories and fulfillment types, with labels shown on eligible items.

China is signaling a crackdown on the destructive EV price war, as officials warn of long-term risks to the domestic automotive sector. BYD’s deep discounts in May drew backlash from rivals and regulators, prompting 17 automakers (including BYD) to pledge supplier payments within 60 days, a move aimed at easing supplier financial strain and curbing excessive competition.

Geely will debut in Italy in Q4 with the all-electric EX5 and a plug-in hybrid SUV, partnering with Jameel Motors to expand its European footprint. While pure EVs made up just 6% of Italy’s vehicle market in June, adoption is climbing, according to 2024 sales figures.  

Apple’s iPhone sales in China are expected to slow in the second half of 2025 amid muted iPhone 17 upgrades, weak consumer demand, and rising competition from Huawei, according to Counterpoint Research. This follows an 8% YoY rise in Q2, driven by discounts and subsidy-backed promotions.

France’s antitrust agency has fined Shein EUR 40 million for misleading discount practices, finding that 57% of advertised deals on its French site between October 2022 and August 2023 misled consumers. Shein accepted the penalty and said the issues were resolved in 2023.

JD.com and Ant Group are urging China’s central bank to approve stablecoins pegged to the offshore yuan, proposing a Hong Kong pilot to support yuan internationalization and counter US dollar dominance in digital trade. Both firms are already planning Hong Kong dollar-backed tokens under new local rules taking effect on August 1.