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HSBC has invested in Shenzhen-based Dowsure, leading its Series C funding round. The fintech firm provides cross-border financing tools for sellers on…

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HSBC has invested in Shenzhen-based Dowsure, leading its Series C funding round. The <a href="/industry/fintech">fintech</a> firm provides cross-border financing tools for sellers on Amazon and eBay. The deal expands a partnership started in 2023 and supports HSBC’s strategy to serve global merchants in an increasingly digital economy.

Lucky Cup, a Chinese coffee chain under the same parent firm as <a href="/company/mixue-bingcheng">Mixue Bingcheng</a>, opened its first overseas store on August 21 in Selangor, Malaysia, marking the start of its global expansion. The outlet reportedly sold nearly 2,000 drinks on opening day and features localized flavors and a food area tailored to Southeast Asian tastes.

<a href="/company/pop-mart">Pop Mart</a> will launch a blind box series featuring mini Labubu figures on August 28 online and August 29 in stores. Each box is priced at RMB 79, with full sets at RMB 1,106. The release follows strong H1 2025 results and rising investor confidence, as shares climbed and market cap topped HKD 400 billion for the first time.

Tokenize Xchange, a Singapore-based crypto platform, has reportedly shut down after failing to secure a licence, triggering a police probe into its operator for alleged fraud. Thousands of users are now unable to access their funds. The High Court has placed the firm under interim judicial management, but affected investors face long delays and uncertainty over recoveries.

xAI has open-sourced its Grok 2.5 model and plans to do the same for Grok 3 in about six months, said Elon Musk in a <a href="https://x.com/elonmusk/status/1959379349322313920">post</a> on X. The move reflects Musk’s push for open AI development as he positions Grok as a transparent alternative to closed-source models like ChatGPT.

Dongfeng Motor plans to privatize its Hong Kong-listed unit and separately list its <a href="/industry/ev">EV</a> brand Voyah, offering shareholders HKD 6.68 per share in a deal that values the unit at HKD 55.1 billion. The restructuring aims to streamline operations and strengthen Dongfeng’s position in China’s automotive market, mirroring moves by other state-owned carmakers.

<a href="/company/byd">BYD</a> will build its first <a href="/industry/ev">EV</a> assembly plant in Malaysia at KLK TechPark in Perak, secured through the Muallim Speed-Lane scheme. The project is expected to generate jobs, support technology transfer, and deepen local supply chain integration, positioning Perak as a growing hub in Southeast Asia’s EV manufacturing sector.

China’s top regulators have drafted new rules to govern pricing practices on internet platforms, banning the use of big data to set discriminatory prices based on user behavior without their knowledge. The proposal also addresses platform fees and coordination between agencies, aiming to boost transparency and oversight in the digital economy.

<a href="/company/tesla">Tesla</a> is upgrading the voice assistant in its China EVs, integrating <a href="/company/deepseek">DeepSeek</a> for conversational interaction and <a href="/company/bytedance">ByteDance’s</a> Doubao LLM for navigation and in-car controls. The voice-activated feature comes months after local rivals launched similar tools, underscoring Tesla’s efforts to stay competitive in the Chinese automotive market.

Runway’s Gen-4 video generation model is drawing interest from <a href="/industry/robotics">robotics</a> firms for its ability to mimic real-world physics, despite not being trained to do so. Originally built for creative use, the model is now being tested as a simulator. Co-founder Anastasis Germanidis said the tech has yet to hit a plateau and could help redefine both simulation and digital performance.

Tahoe Group said chairman Huang Qisen has been detained by authorities in Xinmin, Liaoning, over suspected legal violations. Separately, the company was fined RMB 6 million, and eight former executives were fined a combined RMB 11.4 million for failing to disclose major lawsuits in its 2020 and 2022 reports. Tahoe was delisted from the A-share market in 2023.

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Priced under RMB 200,000, the new car model combines premium comfort with mass market appeal for large families and fleet buyers.

Dongfeng’s Forthing targets affordable luxury with Xinghai V9 MPV

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The latest quarterly results reveal uneven progress among Chinese firms with global ambitions.

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

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