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Ant Group has denied claims it is working with the People’s Bank of China and China Rare Earth Group to launch a rare earth RMB stablecoin, saying it …

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<a href="/company/ant-group">Ant Group</a> has denied claims it is working with the People’s Bank of China and China Rare Earth Group to launch a rare earth RMB stablecoin, saying it has no such plans. The company warned that the rumor is being used to mislead investors and urged the public to verify information to avoid scams.

<a href="/company/xiaomi">Xiaomi</a> founder and CEO Lei Jun launched an online poll on whether to rename the standard edition of its <a href="https://kr-asia.com/xiaomis-new-yu7-can-it-stand-up-to-teslas-model-y">YU7</a> <a href="/industry/ev">EV</a>, stressing it is not a stripped-down model given its 835-kilometer range, Thor chip, and LiDAR tech. Priced at RMB 253,500, the poll drew more than 14,000 responses, with most voters opting to keep the current name.

Naluri, a Southeast Asian provider of employee health and well-being solutions, has raised USD 5 million in a Series B funding round led by Telus Global Ventures via its Pollinator Fund for Good, with participation from Sumitomo Corporation Equity Asia, M Venture Partners, and other investors. The funds will go toward working capital to reach profitability within a year and expansion into the Philippines and Vietnam.

US President Donald Trump signed an executive order extending the tariff truce with China for another 90 days to November 10. The pause delays 145% US tariffs and 125% Chinese retaliatory duties imposed in April, while leaving other levies in place. China confirmed it will suspend certain non-tariff countermeasures under a May agreement.

Syenta, an Australian <a href="/industry/semiconductors">semiconductor</a> startup, has raised AUD 8.8 million in a pre-Series A funding round led by Investible, with participation from Blackbird Ventures, Jelix Ventures, Brindabella Capital, OIF Ventures, Salus Ventures, Wollemi Capital Group, SGInnovate, and In-Q-Tel. The company is developing a patented process to build high-speed interconnects between chiplets to overcome memory bandwidth bottlenecks and boost performance.

US President Donald Trump said <a href="/company/nvidia">Nvidia</a> will pay a 15% cut of its China sales for the H20 chip, down from the 20% he initially sought after talks with CEO Jensen Huang. The deal restores export licenses halted in April. AMD will also pay 15% to sell its China-focused MI308 chip under similar terms, a White House official said.

<a href="/company/huawei">Huawei</a> will announce a breakthrough that could reduce China’s dependence on high-bandwidth memory (HBM) chips for <a href="/industry/ai">AI</a> reasoning. The reveal is set for August 12 at a Shanghai forum with UnionPay, amid US export curbs on HBM and China’s push to build a self-sufficient AI hardware ecosystem.

Chinese firm Roshow Technology said it is planning an H-share issuance and listing on the Hong Kong Stock Exchange. The company is in talks with intermediaries on the details, but no final terms have been determined.

Graas.ai, a Singapore-based data and automation company for <a href="/industry/e-commerce">e-commerce</a>, has raised over USD 9 million in a pre-Series B funding round led by Tin Men Capital, with participation from Incred Wealth, Orzon, and returning investors Integra Partners and Yuj Ventures.

China’s used car sales reached 1.66 million units in July, up 0.2% from June and 3.2% YoY, with a transaction value of RMB 106 billion. Sales between January and July rose 2.17% to 11.23 million units, as summer travel demand and steady trade-in rates offset weather disruptions. NEV penetration in the secondhand market topped 10% for the first time.

GAC Aion plans to acquire up to 30% of Huawang Automotive Technology, launched in March with RMB 1.5 billion from <a href="/company/gac">GAC Group</a> to develop a high-end <a href="/industry/ev">EV</a> brand with <a href="/company/huawei">Huawei</a>. Targeting the RMB 300,000 segment, Huawang expects to release its first model in 2026.

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An "avalanche" of electric, hybrid, and conventional car models could muscle out other importers.

China's automakers bring tech edge to Australia's small but brutal market

China&#8217;s automakers bring tech edge to Australia&#8217;s small but brutal market

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Three Chinese semiconductor companies are preparing for public listings in Hong Kong.

China’s chipmakers look to Hong Kong listings to fuel global growth

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

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Vicky Chang

Amid record earnings, the company is boosting shareholder returns through RMB 499 million in dividends and share repurchases.

Guoquan serves up strong H1 earnings on robust demand, cost control

CHENG Zi is based in China, covering technology and business-related events. She works with her colleagues at 36Kr Global to provide coverage in both English and Chinese.

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Ant refutes false stablecoin claims

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