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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 i…

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

China

Explore East Asia’s thriving tech hubs, global electronics producers, and fast-evolving digital platforms shaping cross-border innovation.

East Asia

Luckin Coffee provides app-based ordering, convenient pickup, and a broad beverage menu, reshaping China’s coffee consumption patterns.

Luckin Coffee

What sets the bar for convenience? Examine on-demand platforms, subscription models, and personalization transforming consumer expectations.

Consumer Economy

How do stores adapt to digital shifts? Explore e-commerce integration, inventory analytics, and omnichannel strategies for modern shoppers.

Retail

Coffee

Five years after a financial scandal, China’s leading coffee chain is testing its footing in Starbucks’ home market.

Luckin Coffee tests the waters in the US with two New York stores

Decoding China&#039;s tech and business pulse

KrASIA

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.

36Kr English

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

Deep Tech

How does automation advance industry? Analyze robotic arms, drones, and AI-driven tools reshaping manufacturing and services.

Chinese companies are moving fast to claim ground in the US lawn care market, where robotic mower adoption remains low.

US lawns are the next big play for China’s robotic mower brands

How do markets shape wealth creation? Study portfolio diversification, asset classes, and strategies balancing growth and risk.

Investment

When do companies invite public investment? Understand listing criteria, underwriter roles, and regulatory steps defining initial offerings.

Why do firms join forces? Investigate synergy goals, valuation methods, and negotiations driving corporate consolidation.

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What happens after acquisitions close? Examine deal structures, operational improvements, and exit strategies molding corporate outcomes.

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What fuels startup ecosystems? Review funding rounds, investor strategies, and market insights guiding entrepreneurial growth.

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Bringing you the latest updates on funding deals and activities in the Asia Pacific.

Deals in brief: Monit raises USD 2.5 million, GreenTeams and AI Hay land Series A rounds, latest China funding deals, and more

An alias used when humans and machines team up in our newsroom. Articles under this byline may be shaped with the help of AI, but are always vetted by a human before publication.

Sudo Lim

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

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<a href="/company/jd">JD.com</a> and <a href="/company/ant-group">Ant Group</a> 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.

<a href="/company/tiktok-shop">TikTok Shop’s</a> Japan operations posted first-month GMV of just JPY 207,000, led by beauty and personal care categories. Despite access to 33 million monthly <a href="/industry/e-commerce">e-commerce</a> 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.

<a href="/company/xpeng">Xpeng</a> 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 <a href="/industry/ai">AI</a> 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 <a href="/company/byd">BYD’s</a> plans to build an <a href="/industry/ev">EV</a> 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 <a href="/industry/e-commerce">e-commerce</a> platforms to reform pricing and fee structures.

<a href="/company/lazada">Lazada’s</a> 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 <a href="/industry/ev">EV</a> price war, as officials warn of long-term risks to the domestic automotive sector. <a href="/company/byd">BYD’s</a> 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.

<a href="/company/geely">Geely</a> 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 <a href="/industry/ev">EVs</a> made up just 6% of Italy’s vehicle market in June, adoption is climbing, according to 2024 sales figures.

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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 <a href="/company/shein">Shein</a> 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.

BetterYeah AI, a Hangzhou-based startup founded by former DingTalk executives, has raised over RMB 100 million in a funding round led by <a href="/company/alibaba">Alibaba Cloud</a>. Specializing in enterprise <a href="/industry/ai">AI</a> agents, the firm said it serves nearly 100,000 teams and will launch a new agent platform this quarter.

Baidu leads Chinese search engines, voice assistants, autonomous driving research, and AI platforms connecting users with information and services.

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

Artificial Intelligence

Its new search interface is part chatbot, part creative tool, and part concierge, but whether users will embrace it at scale remains an open question.

Baidu reimagines search as the race to build the first AI superapp continues

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What shapes modern healthcare and agriculture? Examine biotech startups, gene editing, and drug discovery unlocking biological potential.

Biotechnology

Hong Kong

The Hong Kong-listed firm is advancing its pipeline using an mRNA system it says can compete with the industry’s best.

Everest Medicines targets global expansion with proprietary, AI-driven mRNA platform

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T. K. Lin

BYD, a Chinese EV maker, produces electric cars, buses, and batteries, accelerating adoption of sustainable transportation worldwide.

What powers tomorrow’s roads? Explore EV adoption, charging infrastructure, and battery advances sparking the shift toward sustainable transport.

Electric Vehicles

How is the way we move evolving? Explore developments in autonomous transportation, electric vehicles, and more efficient urban transit.

Mobility

How do goods and people flow worldwide? Examine transport networks, logistics innovations, and policies shaping global connectivity.

Transportation

Latin America

BYD is leading a wave of early EV exports into Brazil ahead of July tax hikes, but long-term success will likely hinge on more.

JD.com, Ant push for yuan-pegged stablecoins

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Baidu reimagines search as the race to build the first AI superapp continues

Everest Medicines targets global expansion with proprietary, AI-driven mRNA platform

Chinese automakers rush to beat Brazil’s EV tariffs, but the real race is just starting