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Alibaba has created the Alibaba Token Hub (ATH) business group, placing CEO Eddie Wu in charge and consolidating core AI units including Tongyi Lab an…

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<a href="/company/alibaba">Alibaba</a> has created the Alibaba Token Hub (ATH) business group, placing CEO Eddie Wu in charge and consolidating core AI units including Tongyi Lab and Qwen. The reorganization aims to bring model development and applications under one structure to coordinate its AI strategy.

Shares of Bright Smart Securities surged as much as 82% after the company said <a href="/company/ant-group">Ant Group's</a> acquisition is set to close on March 30. The HKD 2.81 billion deal will give Ant a controlling stake in the Hong Kong brokerage.

Chinese regulators are discouraging firms incorporated outside China from listing in Hong Kong and have asked some to restructure, according to people familiar with the matter. Authorities are said to be pushing mainland incorporation to strengthen oversight and address compliance and capital flow risks.

Petrobras has exercised its right to acquire Malaysia’s Petronas’ 50% stake in two offshore fields in Brazil’s Campos Basin for about USD 450 million, gaining full control of assets producing roughly 55,000 barrels per day.

CaoCao Mobility has deployed more than 3,600 robotaxi pickup and dropoff points in Hangzhou, covering key areas of the city. The <a href="/company/geely">Geely</a>-backed company is expanding network density and scale as it moves toward commercial robotaxi operations.

Qihoo 360 has revoked an SSL certificate after a private key was exposed in an installation package for its agentic <a href="/industry/ai">AI</a> tool due to a release error. The company said the certificate is now invalid, preventing misuse, and that users were not affected.

<a href="/company/alibaba">Alibaba</a> has launched Wukong, an <a href="/industry/ai">AI</a>-native enterprise platform that uses multi-agent systems to automate workflows across business applications. The platform integrates with the DingTalk ecosystem and is currently in invitation-only beta.

<a href="/company/ant-group">Ant Group's</a> acquisition of Bright Smart Securities has secured regulatory approvals and is set to close on March 30, giving it control of the Hong Kong broker. The deal provides Ant with local brokerage licenses to support its international expansion.

<a href="/company/byd">BYD</a> and <a href="/company/geely">Geely</a> are among the automakers <a href="/company/nvidia">Nvidia</a> has added to new partnerships for its Drive Hyperion autonomous driving platform, which supports development of Level 4 self-driving systems as it expands its automotive business.

VinFast reported a USD 3.87 billion net loss in 2025, widening 26% YoY, as costs increased despite revenue rising 105% to USD 3.59 billion. The <a href="/industry/ev">EV</a> maker delivered 196,919 vehicles and is targeting 300,000 sales in 2026 while aiming to break even this year.

<a href="/company/tencent">Tencent</a> has become a sponsor of OpenClaw on GitHub after its cloud unit was criticized by the project’s creator for copying code without support. The company said it credited the source and contributed code, while the scope of the sponsorship remains undisclosed.

A rush to popularize the Western-developed tool has evoked shades of DeepSeek fever.

OpenClaw becomes latest AI craze for China's local governments

OpenClaw becomes latest AI craze for China&#8217;s local governments

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

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Xpeng Motors builds intelligent EVs equipped with advanced infotainment systems, autonomous features, and sleek electric mobility designs.

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The funding will support the Xpeng subsidiary in scaling production of its modular eVTOL vehicle.

Xpeng-backed Aridge raises funding to advance modular flying car production

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Alibaba creates new AI business group

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OpenClaw becomes latest AI craze for China’s local governments

Deals in brief: Wavemaker Impact backs Virdalis, MetaComp and dtcpay raise funding, PixVerse reaches unicorn status, and more

Xpeng-backed Aridge raises funding to advance modular flying car production