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Tiger Brokers plans to double its workforce in Hong Kong over the next two to three years to capture growing demand from offshore Chinese investors. T…

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China’s tech ecosystem serves as a driving force behind the world’s second largest economy, influencing global digital markets.

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Chen Guang joins Xiaomi to strengthen its assisted driving push as the company works to catch up with China’s leading EV players.

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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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Deals in brief: RadNet acquires See-Mode, Syfe raises additional Series C funding, latest China deals, and more

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KrASIA tracks China’s tech and business stories—alongside key developments across the broader Asia Pacific region.

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Tiger Brokers plans to double its workforce in Hong Kong over the next two to three years to capture growing demand from offshore Chinese investors. The firm’s assets under custody in Hong Kong quadrupled YoY in Q1 2025, fueled by rising capital inflows, IPO activity, and interest from individual and corporate clients.

<a href="/company/didi">Didi</a> posted a Q1 2025 profit of RMB 2.4 billion, nearly tripling YoY, driven by operating efficiency gains and a 22.5% rise in platform sales. Adjusted EBITDA more than doubled to RMB 3.1 billion. Transactions grew 13.4% to 4.25 billion, led by record daily rides in China, while international losses narrowed amid Latin America growth.

China is preparing to approve mazdutide, its first domestically developed dual-target obesity drug, after Phase 3 trials showed nearly half of higher-dose patients lost at least 15% body weight. Created by Innovent Biologics, the drug activates both GLP-1 and GCGR receptors, enhancing metabolism and reducing liver fat. A launch is expected later this year.

<a href="/company/tesla">Tesla's</a> Shanghai factory delivered 61,662 cars in May, down 15% YoY, marking an eighth straight monthly drop. With Chinese rivals like <a href="/company/xiaomi">Xiaomi</a> and <a href="/company/byd">BYD</a> rolling out more affordable <a href="/industry/ev">EV</a> models, Tesla's market share is under strain despite incentives and the Model Y's top SUV status.

Consumer group BEUC has filed a complaint with the European Commission accusing <a href="/company/shein">Shein</a> of using “dark patterns” to drive excessive consumption. The fast fashion company allegedly deploys countdown timers, pop-ups, daily notifications, and gamified features to pressure users. Shein said it is cooperating with regulators but was denied a meeting with BEUC.

GrabCab will debut a 40-car taxi fleet in Singapore this July, offering perks to attract new and inactive vocational license holders. Perks include a "safe driving bonus," quota-based incentives, fuel discounts, and medical benefits. About 700–800 drivers have expressed interest. The firm joins five other licensed operators and has a three-year grace period to scale up.

Power prices in China’s industrial provinces have fallen to regulatory floors as coal costs plunge and renewable energy floods the grid. Jiangsu’s rate dropped 24% YoY while Guangdong saw an 8.3% cut, offering relief to export-heavy industries amid US trade pressure.

Singapore’s Temasek is cutting exposure to early-stage startups, with 2024 commitments dropping to USD 509 million from USD 4.4 billion in 2021. The pullback follows rising interest rates and reputational hits from failed bets like FTX and eFishery, as the fund pivots to larger, later-stage deals with clearer IPO prospects.

Marubeni has signed its first long-term deal to purchase green ammonia from China’s Envision Energy, sourcing from an Inner Mongolia plant set to start commercial output in late 2025. The Japanese firm aims to supply clients across Northeast Asia as it scales low-carbon fuel offerings.

<a href="/company/openai">OpenAI</a> has launched new workplace tools for ChatGPT, including connectors to third-party apps and a record mode for meetings. Connectors provide instant access to company data from platforms like Dropbox, Google Drive, and Sharepoint, while record mode transcribes sessions and generates AI-powered notes, citations, and suggestions.

Nasdaq-listed RadNet has acquired See-Mode Technologies, a Singapore-based startup using <a href="/industry/ai">AI</a> to improve radiology workflows. The firm began with a focus on stroke prevention and now supports imaging providers in the US, Canada, and Australia. Cocoon Capital, an early backer from 2018, marks a notable exit.

The Shandong-born chain is expanding beyond its home turf, betting that supply chain depth and value pricing can win over diners nationwide.

Call it China’s Saizeriya: Chaoyixing scales fast food with low costs and margins

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The Suzhou-based firm is adapting its turnkey projects and co-extraction tech to meet shifting regulatory and cost demands across regions.

Tiger Brokers to double HK headcount

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Call it China’s Saizeriya: Chaoyixing scales fast food with low costs and margins

Deals in brief: RadNet acquires See-Mode, Syfe raises additional Series C funding, latest China deals, and more

China’s Botree raises more funding to expand its battery recycling footprint