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Pfizer has licensed global rights to 3SBio’s cancer drug SSGJ-707 for USD 1.25 billion upfront, in what may be the largest single-drug deal in China’s…

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Pfizer has licensed global rights to 3SBio’s cancer drug SSGJ-707 for USD 1.25 billion upfront, in what may be the largest single-drug deal in China’s biotech sector. It will pay an additional USD 150 million for China development rights and invest HKD 785 million for a 1.3% stake. SSGJ-707 is in clinical trials for lung, colorectal, and gynecological cancers.

<a href="/company/baidu">Baidu</a> has received a license to operate fully driverless robotaxis in Shanghai’s Pudong New Area, the city’s first approval for commercial services downtown. The move follows a year of local testing and expands Apollo Go’s footprint in the city, which began in Jiading in 2023.

<a href="/company/huawei">Huawei</a> executive Richard Yu has announced that the next-generation Aito M7 will launch in September. The redesigned model will offer both extended-range and all-electric variants, and will debut a new coral red color option.

Laopu Gold has forecast H1 2025 sales of RMB 14.3 billion and adjusted net profit of RMB 2.36 billion, up 252% and 292% YoY, respectively. With operations across more than 30 malls, the company is expected to average nearly RMB 500 million in revenue per location during the period.

Samsung Electronics has signed a USD 16.5 billion chip supply deal with a global client confirmed by Elon Musk to be <a href="/company/tesla">Tesla</a>, set to run through 2033. The agreement comes as Samsung faces pressure to improve production yields, compete with <a href="/company/tsmc">TSMC</a> in advanced chipmaking, and revive its delayed Texas foundry project.

On July 28, Taobao Shangou and Ele.me announced that joint daily orders exceeded 90 million for two consecutive weekends, excluding zero-cost and self-pickup orders. Earlier in July, the platforms had topped 80 million daily orders for two consecutive Saturdays.

Hengrui Pharmaceuticals has licensed global rights to its HRS-9821 program and granted GSK options on up to 11 additional candidates, excluding Greater China. GSK will pay USD 500 million upfront, with milestone payments tied to development, registration, and sales potentially totaling up to USD 12 billion.

On July 28, Agibot announced it will begin open-sourcing its embodied intelligence operating system in Q4 2025 to build a shared ecosystem for <a href="/industry/robotics">robotics</a>. The company also launched Genie Envisioner, a predictive world model platform for dual-arm robots, and said its X2 robot will enter mass production in the second half of 2025.

Senior US and Chinese officials are meeting in Stockholm on July 28, targeting a tariff truce extension ahead of an August 12 deadline. US treasury secretary Scott Bessent and Chinese vice president He Lifeng are leading the talks, which may yield a 90-day extension to avoid tariffs exceeding 100%. A breakthrough could also pave the way for a potential Trump-Xi meeting later this year.

US commerce secretary Howard Lutnick said President Donald Trump is “positive” toward <a href="/company/tiktok">TikTok</a> but only if it transitions to US ownership and technology. In a televised interview, Lutnick cited national security concerns over Chinese control of an app used by 170 million Americans, while noting Trump sees TikTok as a key tool for engaging young voters.

On July 27, Rokid CEO Zhu Mingming said the company has sold 300,000 units of its smart glasses since launch, with production now the main focus. The glasses support navigation, AI-powered recognition, and calls, and will likely add ride-hailing features later this year through partnerships with Amap and Alipay.

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

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

East Asia

Tencent, a Chinese tech conglomerate, invests in gaming, social media, and cloud services, supporting entertainment and connectivity worldwide.

The tech giant signals a deeper push into full-stack AI with its latest round of announcements.

Tencent ups its AI game with a flurry of releases at WAIC 2025

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China’s tech and consumer brands are expanding across borders, laying the framework for a global lattice.

China Recap | Testing new frontiers

Vicky is a senior reporter based in Hangzhou, covering news about Chinese companies expanding their footprints abroad.

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Vicky Chang

Former chart toppers like Maoxiang and Talkie now see sharp user declines, weak monetization, and mounting regulatory pressure.

Pfizer inks record China drug deal

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Tencent ups its AI game with a flurry of releases at WAIC 2025

China Recap | Testing new frontiers

Emotional companion apps stumble after early hype