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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 se…

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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.

The US has reportedly frozen export controls on tech sales to China, including <a href="/company/nvidia">Nvidia’s</a> H20 chip, to avoid disrupting trade talks and a potential meeting between national leaders. Security officials warn the pause could aid China’s military ambitions in <a href="/industry/ai">AI</a>, while Nvidia maintains the chip serves civilian uses and meets global demand.

Zhipu AI plans to release its largest open-source model, GLM-4.5, as early as July 28, joining a wave of Chinese firms accelerating open-source <a href="/industry/ai">AI</a> efforts, including Moonshot AI and StepFun. The company is also eyeing a Hong Kong IPO that could raise USD 300 million.

<a href="/company/shein">Shein</a> has developed over 170 apparel manufacturing tools since 2023, delivering nearly 6,000 units to suppliers. Created through its innovation center, the tools target production pain points and reportedly raise workflow efficiency by up to 80%.

<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.

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.

US and China seek tariff truce extension

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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