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China now leads the world in clinical trial volume, with over 7,100 trials registered in 2024 and a 30% global share. Industry leaders cite faster tim…

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China now leads the world in clinical trial volume, with over 7,100 trials registered in 2024 and a 30% global share. Industry leaders cite faster timelines, lower costs, and growing international recognition as drivers of China’s biotech exports and licensing deals, which now exceed equity financing and totaled over USD 60 billion in H1 2025, partly fueled by NewCo-style internationalization.

<a href="/company/meituan">Meituan</a> has launched Xiaomei, an agentic <a href="/industry/ai">AI</a> app powered by its LongCat model, to strengthen its food delivery and local services. Xiaomei lets users place meal orders by voice and book restaurants. Shares rose in Hong Kong after the rollout, which comes as <a href="/company/alibaba">Alibaba</a> and <a href="/company/jd">JD.com</a> escalate competition in China’s delivery market.

Popokii, a South Korean brand distributor on Line Gift in Japan, has secured an investment from Z Venture Capital amid a surge in South Korean consumer goods exports to Japan. The amount raised was not disclosed.

Chinese <a href="/industry/ev">EV</a> sales in Singapore hit 7,796 units by July, surpassing 2024’s total and lifting market share to 65.7%. <a href="/company/byd">BYD</a> remains the leader, but its share slipped to 70.9% as 15 other Chinese brands, including MG, Dongfeng, and <a href="/company/zeekr">Zeekr</a>, gained ground with new models, expansion plans, and rising consumer trust in Chinese-made cars.

UBTech Robotics has won a RMB 250 million contract for its Walker S2 humanoid robots, which it described as the "world’s largest order" of its kind. Deliveries will begin this year, and the deal includes operational support services. The Hong Kong-listed firm did not name the client.

<a href="/company/alibaba">Alibaba</a> and <a href="/company/baidu">Baidu</a> have reportedly begun using self-designed chips to train <a href="/industry/ai">AI</a> models, partly replacing <a href="/company/nvidia">Nvidia</a> hardware. Alibaba has applied its chips to smaller models, while Baidu is testing its Kunlun P800 for Ernie. The shift reflects US export curbs and Beijing’s push for tech self-sufficiency, though both firms still rely on Nvidia for top-tier models.

<a href="/company/alibaba">Alibaba</a> aims to raise USD 3.2 billion through a zero-coupon convertible bond, the largest such deal this year, Dealogic data showed. About 80% of the proceeds will go toward expanding data centers and cloud services, with the remainder for <a href="/industry/e-commerce">e-commerce</a> growth. The bond, due in 2032, carries a 27.5–32.5% conversion premium over Alibaba’s US-listed stock.

Chinese pharmaceutical executives sought to reassure investors after a report said the US may restrict licensing deals for China-developed drugs. Shares of Hong Kong-listed firms fell, but at BioHK 2025, leaders from Grand Pharma, China Resources Pharma, CureGene, and Yunnan Baiyao said risks could be managed through diversification, regionalization, and overseas clinical trials.

<a href="/company/anta">Anta Group</a> has announced plans to open 1,000 stores in Southeast Asia within three years, after nearly doubling regional revenue in H1 2025. The company has set up its Southeast Asia headquarters in Singapore and intends to expand further into South Asia, Australia, and New Zealand.

<a href="/company/starbucks">Starbucks</a> has reportedly advanced to final talks to sell 70% of its China business, retaining a 30% stake. Final bidders include Boyu Capital, Carlyle Group, EQT, and HongShan. A decision is expected by late October, as Starbucks expands its China store network and faces rising competition in the market.

At least three Wahaha subsidiaries have rebranded under the Hongsheng name since September, signaling broader consolidation of the group’s beverage businesses. The changes come amid an <a href="https://kr-asia.com/wahaha-heiress-takes-shareholder-fight-to-chinas-top-court">ongoing shareholder dispute</a>, though it is unclear whether the rebranding is connected.

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Zhihu founder Zhou Yuan credits the string of profits to a long-term bet on trust as the platform’s foundation.

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