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AliExpress has renewed its partnership with actor Ma Dong-seok as brand ambassador for a third year in South Korea. In 2024, the platform captured 85%…

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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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Xiaomi crafts affordable smartphones, wearables, and IoT devices, appealing to users who seek innovation, quality, and budget-friendly tech.

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

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AliExpress has renewed its partnership with actor Ma Dong-seok as brand ambassador for a third year in South Korea. In 2024, the platform captured 85% of Chinese <a href="/industry/e-commerce">cross-border e-commerce</a> spending and ranked second in monthly active users, briefly surpassing Coupang in key engagement metrics, according to WiseApp.

Chinese <a href="/industry/energy">energy</a> financing in Africa has dropped 85% since 2015, steering the continent toward private capital and clean energy, according to the IEA. Public and DFI funding fell to USD 20 billion in 2024, while private clean energy investment more than doubled to USD 40 billion, led by solar power and <a href="/industry/ev">EVs</a>.

Builder.ai filed for Chapter 7 bankruptcy in Delaware after creditors seized most of its cash. Once valued at USD 1.5 billion, the Microsoft-backed firm had overstated 2024 sales by 300% and was linked to alleged fictitious deals with VerSe. Despite a board shakeup and audit, the startup collapsed after raising USD 450 million. Its founder stepped down in February.

Chinese President Xi Jinping and US President Donald Trump spoke by phone on June 5 and reaffirmed their commitment to the Geneva trade agreement. Xi called for steady leadership and urged the US to lift punitive measures, while Trump voiced support for deeper engagement. Both sides agreed to hold another round of talks soon.

Coinbase CEO Brian Armstrong plans to fund a startup focused on gene editing in human embryos, a first for the private sector in a field long shaped by <a href="https://www.science.org/content/article/crispr-bombshell-chinese-researcher-claims-have-created-gene-edited-twins">the CRISPR controversy</a>. He is recruiting scientists to apply base editing, a DNA-altering method considered more precise than earlier tools, to target genetic disease. The effort may test legal and ethical limits in the US.

FountainVest Partners plans to sell half its stake in Amer Sports for about USD 1.3 billion, reducing its holdings to 6.2%. The Chinese firm joined Anta, <a href="/company/tencent">Tencent</a>, and Chip Wilson in the 2018 acquisition. In Q1 2025, Amer’s revenue rose 23% YoY to USD 1.47 billion. Arc'teryx was a key driver, generating over USD 2 billion in 2024 sales.

<a href="/company/meituan">Meituan’s</a> Dianping app has launched a “premium delivery” feature in cities like Guangzhou and Shenzhen, showcasing top-rated, licensed vendors across six categories. Orders are completed in-app, with daily vouchers offered to boost usage. The update leverages Dianping’s review data to build a closed content-commerce loop.

Talent New Energy has unveiled its "cold core" battery technology to improve fast charging and thermal management in cylindrical <a href="/industry/ev">EV</a> cells. Its 4695 and 50190 series support 6C charging, reaching 80% charge in nine minutes, and operate across extreme temperatures, addressing limitations of the cylindrical format.

<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.

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The Chinese firm hopes its “cold core” architecture will reshape expectations for the 4680 form factor.

Can cylindrical EV batteries make a comeback? Talent New Energy thinks so

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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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Ma Dong-seok returns as AliExpress rep

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Can cylindrical EV batteries make a comeback? Talent New Energy thinks so

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