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Rising concerns in the US and Europe over China's record global trade surplus of more than USD 1 trillion are unlikely to prompt Beijing to rein in exporters for the foreseeable future, experts say.
Official data released this week showed China's surplus for the first 11 months of the year already <a title="" href="https://asia.nikkei.com/economy/china-s-trade-surplus-tops-record-1tn-as-exports-rebound" target="_blank" rel="noopener">hit USD 1.07 trillion</a>. This should be a "wake-up call" to China's trading partners that "the arsenal of current trade remedies and rules are not working," said Wendy Cutler, senior vice president of the Asia Society Policy Institute.
While the focus this year has been on US President Donald Trump's tariffs, under which China's US-bound shipments have fallen sharply, the European Union (EU) is shaping up to be the next battleground. French President Emmanuel Macron told domestic media that he warned President Xi Jinping during his recent visit to China that if Beijing fails to address the trade imbalance, the EU "will be forced to take measures in the coming months."
Over the past five years, China's export surge has been driven by both pandemic side effects and advancements in domestic manufacturing. Rising inflation and interest rates in other countries have boosted demand for low-priced Chinese goods, while Beijing's industrial push—including its "<a title="" href="https://kr-asia.com/for-xi-jinping-made-in-china-2025-has-been-worth-every-penny" target="_blank" rel="noopener">Made in China 2025</a>" strategy—and vast supply chains have reinforced its manufacturing edge. Deflation within China since mid-2022 has further enhanced exporters' competitiveness.
Jin Keyu, a professor of finance at the Hong Kong University of Science and Technology, told Nikkei Asia that the surplus "is not just a trade issue." She said it is important to recognize that it is also a result of China's exceptionally high household savings rate, while investment has grown more slowly.
So while consumption-spurring measures could be one way to reduce it, "China's strategic direction going forward is focused on consolidation, integration, optimization, and efficiency. This is aimed at addressing overcapacity problems stemming from excessive competition. Domestically, that also means fewer subsidies and less emphasis on scale, which should help alleviate some of these issues," Jin said.
Yet she also called overcapacity itself "a misleading concept." China is providing developing countries abundant, affordable, high-quality renewables, and other technologies, benefitting the world, she said. "For example, there is no worldwide overcapacity in [electric vehicles]," she said, echoing arguments Beijing itself has made in downplaying worries in Europe and elsewhere about an <a title="" href="https://asia.nikkei.com/spotlight/asia-insight/china-s-underutilized-factories-fan-export-dump-fears-in-u.s.-and-europe" target="_blank" rel="noopener">influx of inexpensive Chinese EVs</a>.
While China's domestic demand remains lackluster, the trade surplus is expected to help Beijing meet its official growth target, which is "around 5%" for 2025. Many economists anticipate that officials will set a similar goal for 2026 to boost confidence.
On December 8, the Chinese government's 24-member Politburo held a meeting and signaled concern over slower growth since the middle of the year, referring to "counter-cyclical" policy adjustment, which describes efforts to stabilize the economy and had been absent from July's Politburo meeting. State news outlet Xinhua's account of the discussions also reintroduced "trade struggles," an indication that Beijing might be expecting flare-ups in trade friction.
Lu Ting, a managing director and chief China economist at Nomura, said, "We especially believe the rising trade imbalance with Europe will trigger rounds of trade tensions which have so far been underestimated by markets."
The EU is particularly anxious over China's EV exports. In 2024, China churned out 12.4 million EVs, representing more than 70% of global output, while Europe produced about 2.8 million and North America made 1.8 million, according to the International Energy Agency.
"The USD 1 trillion in trade surplus is a real concern, not just in Europe but in many other countries, that the competitiveness of Chinese products are pushing out domestic manufacturers or even hindering domestic manufacturing to get off the ground, leading to underperformance in terms of economic growth, but perhaps also job losses," said Jens Eskelund, president of the EU Chamber of Commerce in China (EUCCC).
The chamber said the EU's trade deficit with China is expected to exceed EUR 400 billion (USD 470 billion) this year.
Wu Xinbo, dean of the Institute of International Studies and director of the Center for American Studies at Fudan University, called the unprecedented surplus a "pleasant surprise" amid China's trade tensions with the US and Europe. He said the strong export momentum should continue for some time due to the "competitiveness of the exported goods."
"If the European Union takes further measures, including imposing additional tariffs, China will simply continue to negotiate, while also taking some countermeasures, such as not buying Airbus [planes]," Wu said.
"And since relations with the US have improved, we can buy [from] Boeing instead," he added, referring to the trade truce struck by Trump and Xi at the end of October.
Wu emphasized that it is unlikely for Beijing to instruct its producers to export less, as exports are driven by market forces, while it is also highly improbable that China would restrict export pricing, given its production cost advantages over Europe.
To manage tensions, Wu suggested, "I think what China can do is appropriately increase imports from Europe, if Europe has suitable products, including both goods and services, as well as increasing investment in Europe."
EUCCC's Eskelund suggested that allowing the yuan to appreciate would also help ease the tensions, while at the same time putting money back in Chinese consumers' products by making imports cheaper. "China can continue exporting an ever-increasing volume of goods to Europe," he cautioned, "but doing so risks further backlash."
This article first appeared on <a href="https://asia.nikkei.com/economy/trade-war/china-s-1tn-wake-up-call-record-surplus-threatens-to-fuel-trade-tensions">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

China's wake-up call: Record surplus threatens to fuel trade tensions

China

… success. Monthly revenue exceeded RMB 40 million (USD 5.6 million), and the team grew from 20 to 70 members.
S-Game followed with Phantom Blade 2 and Phantom Blade 3, both developed on larger budgets. The latter topped the iOS RPG charts at launch.
But the growth also brought backlash. Phantom Blade 2 was criticized as overly commercial and “pay-to-win.” Phantom Blade 3 faced similar complaints, with its TapTap rating dropping soon after release. Liang called them “commercial games with an indie spirit,” but many fans remained unconvinced.
Public perception worsened when Liang posted a photo of a Lamborghini model on social media, prompting jokes that he had “sold out.”
<h3>The making of Phantom Blade Zero</h3>
S-Game’s redemption began with Phantom Blade Zero.
Determined to restore creative integrity, the studio sought major backing without losing control. In 2021, Tencent acquired a 25% stake in S-Game.
In an internal memo, Liang explained that Tencent approached them after learning of their large-scale PC and console plans. The deal provided funding and technical support “without interfering with creative direction.” Liang outlined a five-year roadmap for two Unreal Engine 5 titles: Phantom Blade Zero and <a href="https://www.cruelmanstudio.com/stellar-saga">Stellar Saga</a>. The latter was later shelved so the team could focus entirely on Phantom Blade Zero.
Narratively, Phantom Blade Zero continues the legacy of Rainblood. What began in 2008 as a student’s sketchbook idea evolved into a multi-platform franchise. From classrooms to mobile hits to a high-budget console production, Liang’s path mirrors that of his protagonist: scarred, but relentless.
In Rainblood: Town of Death, the hero had 64 days to live. In Phantom Blade Zero, he returns with 66. What those two extra days signify remains to be seen. But if one word defines Phantom Blade Zero, it’s “wuxia.”
After attending a hands-on event on July 27 at Beijing’s Shougang Park, 36Kr described the title as China’s next benchmark in action RPGs. Blending fast-paced combat with cinematic storytelling, it stands apart from both the deliberate pacing of Soulslike games and the frenetic style of Devil May Cry. Its goal is to deliver action that feels authentically Chinese in rhythm and spirit.
The trailer unveiled at this year’s TGA captures its “dark wuxia” tone. It opens with a masked man cradling a baby while fighting off assassins, then cuts to the protagonist awakening on a carriage bound for distant lands. Returning characters, including Leng Tu from the Rainblood saga, make brief appearances.
Combat footage showcased complex boss encounters and a variety of weapons, from polearms and hammers to stylized martial arts sequences blending traditional choreography with punk-inspired flair. The lion dance boss, leaping between pillars, drew particular praise for fusing Chinese cultural motifs with modern fantasy design.
<figure id="attachment_159070" aria-describedby="caption-attachment-159070" style="width: 1920px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-full wp-image-159070" src="https://console.kr-asia.com/wp-content/uploads/2025/12/Phantom-Blade-Zero-Weapon.jpg" alt="Image of the playable protagonist in Phantom Blade Zero, wielding a distinctive mace-like polearm." width="1920" height="1080" srcset="https://console.kr-asia.com/wp-content/uploads/2025/12/Phantom-Blade-Zero-Weapon.jpg 1920w, https://console.kr-asia.com/wp-content/uploads/2025/12/Phantom-Blade-Zero-Weapon-720x405.jpg 720w, https://console.kr-asia.com/wp-content/uploads/2025/12/Phantom-Blade-Zero-Weapon-1024x576.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2025/12/Phantom-Blade-Zero-Weapon-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2025/12/Phantom-Blade-Zero-Weapon-1536x864.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2025/12/Phantom-Blade-Zero-Weapon-480x270.jpg 480w" sizes="(max-width: 1920px) 100vw, 1920px" /><figcaption id="caption-attachment-159070" class="wp-caption-text">The playable protagonist in Phantom Blade Zero wields a range of weapons, including a distinctive mace-like polearm. Image source: S-Game.</figcaption></figure>
According to the game’s Steam page, Phantom Blade Zero uses advanced motion capture directed by Kenji Tanigaki, a veteran from Donnie Yen’s stunt team known for his work on Wo Long: Fallen Dynasty.
Speaking with 36Kr, Liang and his team emphasized their deep study of martial arts and kung fu cinema to ensure authenticity in every gesture and emotion.
Hands-on testers describe the gameplay as feeling like starring in a kung fu epic, balancing classic wuxia tropes with cyberpunk flair. Prosthetics, secret scrolls, and steel shape its world.
<figure id="attachment_159079" aria-describedby="caption-attachment-159079" style="width: 480px" class="wp-caption aligncenter"><img loading="lazy" decoding="async" class="size-full wp-image-159079" src="https://console.kr-asia.com/wp-content/uploads/2025/12/Phantom-Blade-Zero-Combat.webp" alt="A snippet of combat gameplay in Phantom Blade Zero, which draws heavily from wuxia traditions while incorporating elements of cyberpunk style." width="480" height="270" /><figcaption id="caption-attachment-159079" class="wp-caption-text">Combat in Phantom Blade Zero draws heavily from wuxia traditions while incorporating elements of cyberpunk style. Graphic source: S-Game.</figcaption></figure>
Like its protagonist, S-Game has come full circle: six years of indie development, seven years in mobile, and now a return to narrative-driven, single-player storytelling. The studio has experienced passion, compromise, and renewal. But unlike its characters, S-Game cannot defy mortality. It must survive as a business, and that means Phantom Blade Zero must sell.
Even so, Liang insists his ambition remains unchanged: to make a great game. For that alone, Phantom Blade Zero might just be worth the wait.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3592724488356097">article</a> was written by Beiguo Shu (alias) for 36Kr.

From Rainblood to Phantom Blade Zero: The origins and rise of S-Game

Gaming

Creative

The Asian Development Bank (ADB) lifted its overall growth forecasts for regional economies on December 10, though expressed concern over possible negative effects from lingering trade and financial market uncertainties.
The Manila-based multilateral lender now expects its 46 member economies to expand 5.1% this year, up from 4.8% in its previous forecast in September, according to the latest edition of its "Asian Development Outlook." For 2026, it projects that they will expand 4.6%, slightly higher than the previous 4.5% forecast, though marking a slowing from this year.
The highest revised growth rate by country and region was Vietnam, at 7.4%, up from 6.7% previously. Taiwan is now seen expanding 7.3%, up 2.2 percentage points from the earlier forecast, while Singapore will likely grow 4.1%, up 1.6 percentage points.
The upward revision for these countries and regions that heavily export technology products to the US may suggest that the impact of US President Donald Trump's tariffs has not been that significant so far.
South Asia, which includes India, is expected to continue to lead the way on growth, with robust domestic consumption and strong export figures pushing the region ahead, according to the ADB. It forecasts growth of 6.5% this year, led by India's expected 7.2% expansion.
But uncertainty stemming from US President Donald Trump's so-called reciprocal tariffs continues to hamper Asia's economic fortunes.
"Possible reescalations of tariff tensions and trade policy uncertainty, as well as elevated financial market volatility, are key concerns and could weigh on exports and investment," the ADB said. "Sharp asset price corrections could also intensify debt vulnerabilities, triggering capital outflows and debt distress."
The ADB said that while trade concerns have decreased following the reduction of US tariffs on China, risks remain elevated. "Uncertainty remains on other sector-specific tariffs for branded drugs and semiconductors, announced in August and September, as these measures have not been formally introduced," the ADB said.
Still, the lender said that economic growth across developing Asia remains resilient. "Exports remained robust, bolstered by strong demand for electronics and semiconductors and export market diversification, which helped to mitigate the impact of higher US tariffs," it said.
The ADB said that exports from high-income technology exporters rose 22% in October from the same month last year. That was underpinned by Taiwan, the world's leading semiconductor hub, where exports skyrocketed by 49% owing to strong global demand amid the <a title="" href="https://asia.nikkei.com/business/technology/taiwan-s-top-ai-server-makers-boost-output-to-meet-us-demand" target="_blank" rel="noopener">global artificial intelligence race</a>.
Meanwhile, overall growth prospects were lifted by strong numbers from India, cushioning the blow from a slowdown in China, where a slump in the country's property sector continues to negatively influence economic activity, "pulling fixed asset investment down and slowing infrastructure and manufacturing investment," according to the bank.
For 2026, East Asia is expected to grow 4.1%, despite a slowing growth outlook for China at 4.3%, down from this year's expected 4.8%. "Renewed tariff tensions and trade policy uncertainty, and higher financial market volatility, remain key risks," the ADB said. "Geopolitical pressures and weakness in the People's Republic of China's property market could also weigh on the region's growth outlook," it added, referring to China by its official name.
Southeast Asia, meanwhile, is expected to grow 4.4% in 2026, just below this year's 4.5% projection. But the ADB said optimism is warranted despite the marginal downgrade due to "strong third-quarter performance in Indonesia, Malaysia, Singapore, and Vietnam, despite persistent risks to growth that include climate-related disruption and domestic political developments."
The bank added, "Southeast Asia remains resilient, with prospects depending on sustained policy support and flexible economic strategies."
Inflation is expected to ease across the region to 1.6% this year and 2.1% in 2026, respectively, unchanged from the ADB's previous update in September. The bank said that monetary easing cycles continued across developing Asia, as inflation rates were below or within target in 13 of the 17 inflation-targeting economies, with expectations of greater policy flexibility amid the US continuing to ease lending rates.
This article first appeared on <a href="https://asia.nikkei.com/economy/asia-s-growth-outlook-brightens-though-trade-uncertainties-linger-adb">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

Asia's growth outlook brightens, though trade uncertainties linger: ADB

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… real intimacy, or make one feel guilty toward a human partner?
For now, You Nian and Meiyi, who haven’t dated AI, remain open to real relationships. Minnie limits her gameplay to 15 minutes a day, avoiding companion mode. Feiyue, who is married, never opens DeepSeek around her husband.
When Xavier whispers her name in “sleep mode,” Chi gazes at his face and wonders whether she could ever love a real man again.
“I believe this is my greatest privilege of living in the 21st century,” she said.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3591180729696516">article</a> was written by Wang Yuchan for 36Kr.

The women falling in love with AI, and how otome game makers profit from it

Artificial Intelligence

Deep Tech

Shanghai-based semiconductor company Iluvatar CoreX has secured approval to list on the Hong Kong Stock Exchange, according to exchange filings published on December 19. The company confirmed the development when contacted by KrASIA, describing the approval as a key step toward bringing a domestic general-purpose GPU maker into China’s public capital markets.
For decades, modern computing has relied on a division of labor between central processing units (CPUs) and graphics processing units (GPUs). CPUs serve as the system’s control center, optimized for decision-making, branching logic, memory management, and task coordination. GPUs, by contrast, function as high-throughput engines, designed to apply the same mathematical operations across large volumes of data in parallel, a capability that historically made them well suited to computer graphics.
The rise of general-purpose GPUs, also commonly known as GPGPUs, followed breakthroughs in <a href="/industry/ai">artificial intelligence</a>. Developers found that many computational problems could be reformulated as large tensor or matrix operations, enabling CPUs to offload structurally simple but computationally intensive workloads to GPUs. This shift significantly improved both performance and energy efficiency.
Within China, Iluvatar is one of several domestic companies focused on GPGPU development, positioning itself as part of the country’s broader AI infrastructure buildout. According to the company, it is among a small group that has not only developed GPGPU technology but also achieved mass production and commercial deployment, translating technical progress into revenue.
Iluvatar has also said it was the first domestic company to develop GPGPU chips and the first to mass produce and deploy seven-nanometer GPGPU products in real-world applications.
GPGPUs are widely regarded as one of the more technically demanding segments of the semiconductor sector, given their architectural complexity and deep integration with software systems. Iluvatar attributes its progress to a proprietary innovation strategy pursued since its founding. According to the company, it has built an internal IP system spanning computing units, cache architectures, data transmission, compilers, performance-optimized libraries, and system interconnection protocols. This approach, Iluvatar said, allows it to maintain control over core technologies while integrating hardware and software into deployable systems.
The company’s GPGPU development milestones can be traced back to 2021, when it powered on its first TG Gen 1, or TG 100, chip. Iluvatar characterized the event as a breakthrough for domestic GPGPU development. The same year, it formally launched the TG series and entered mass production and commercialization the same year. Iluvatar said the TG 100 achieved performance parity with mainstream international products. It later introduced the TG Gen 2 and TG Gen 3 to further consolidate its position in the market.
In 2022, Iluvatar introduced the ZK Gen 1, or ZK 100, chip, targeting AI inference workloads. The company said the chip was the first GPGPU designed in China specifically for inference use cases. ZK 100 and a related variant, ZK Gen 1X, are currently in mass production, with sales underway, according to Iluvatar.
Across its TG and ZK product lines, the company aims to address computing needs ranging from AI model training to cloud-based and edge-side inference. Iluvatar has emphasized its use of seven-nanometer manufacturing processes for GPGPU production, which it said was a first for China, citing Frost &amp; Sullivan.
Iluvatar has also highlighted the scalability of its commercial model. Company-provided data shows that GPGPU shipments reached approximately 7,800 units in 2022, 12,700 units in 2023, and 16,800 units in 2024. In the first half of 2025, shipments totaled about 15,700 units, representing a 227% increase from roughly 4,800 units during the same period a year earlier.
As of June 30, Iluvatar reportedly delivered more than 52,000 GPGPUs to over 290 customers across multiple industries. Based on shipment volumes recorded in 2024, the company said it ranked third among domestic GPGPU suppliers in China.
Beyond chip sales, Iluvatar has focused on offering integrated computing solutions, aiming to embed its products deeply within customer systems used for model training, AI inference, and high-performance computing. The company said this strategy has helped increase customer retention and lifetime value.
Looking ahead, Iluvatar expects sustained growth driven by rising demand for AI-related computing and China’s push for technological self-sufficiency. Frost &amp; Sullivan estimates that China’s GPGPU market shipped around 1.6 million units in 2024. Shipments are projected to grow at a compound annual rate of 33% from 2025–2029, indicating continued strong expansion.
As its Hong Kong listing process advances, Iluvatar said it plans to draw on capital market resources to strengthen its technology, product development, and market reach, with the goal of securing the leading position in China’s GPGPU market.
This article was published in partnership with <a href="https://www.iluvatar.com/">Iluvatar CoreX</a>.

Iluvatar CoreX becomes first Chinese GPGPU firm to gain HKEX listing approval

Semiconductors

… a sleeping dog might appear identical. That is why competition has shifted from hardware specifications to multi-sensor fusion algorithms.
Dreame’s A3 AWD Pro embodies that evolution. As the world’s first four-wheel-drive robotic lawn mower equipped with 360-degree 3D LiDAR and binocular vision, it debuted at the IFA trade show this year, demonstrating up to 98% accuracy in dynamic obstacle recognition.
Think of it as giving the robot a professional driver’s brain: LiDAR provides the structure, binocular vision adds detail, and <a href="/industry/ai">artificial intelligence</a> supplies context and meaning.
Premium users value that sophistication. Most machines can handle flat terrain, but few perform well on slopes and uneven ground. In Europe’s hilly backyards, that’s the ultimate engineering test. Dreame’s four-wheel hub motors allow an 80% climbing gradient, and its offset blade trims within three centimeters of edges. The company’s strength lies not in pricing, but in tailoring technology to real-world terrain.
A closer look at Dreame’s strategy shows its success is no accident.
At the core of its lawn mowers is an advantage in algorithms. Unlike traditional garden toolmakers, Dreame’s DNA is rooted in technology. Its expertise in indoor robotics provided a strong foundation. By transferring SLAM algorithms and motion control logic from vacuums to lawn mowers, Dreame bypassed years of trial and error.
While legacy brands focused on motor stability, Dreame entered with algorithms refined through millions of indoor tests.
From its sensor fusion system to adaptive obstacle avoidance, Dreame applies precision robotics know-how to outmaneuver traditional equipment makers. This cross-domain reuse reduces R&amp;D costs and enables rapid iteration and over-the-air software updates.
LiDAR-powered lawn mowers now mirror the trajectory of Chinese electric vehicles and drones abroad. Dreame is advancing solid-state LiDAR research and developing broader multi-sensor fusion frameworks, adapting and applying principles from autonomous driving.
In Dreame’s vision, future lawn mowers will go beyond cutting grass. They will integrate with smart home systems, adapt to environmental changes, and respond autonomously. Behind that ambition lies China’s strength in algorithms and supply chains, combining to power the next wave of precision robotics.
North America remains one of the few frontiers in the garden economy yet to be conquered, characterized by larger lawns, tougher terrains, and thicker grass. Dreame sees its four-wheel-drive system and dual-vision fusion algorithms as its main advantages in tackling this market.
But global success also requires localization. Dreame’s expansion strategy depends not only on e-commerce, but also on local dealer networks that allow customers to see, test, and service machines close to home. That physical presence has been vital to its global market share and brand recognition.
As the second wave of smart hardware takes shape, user experience driven by genuine innovation will determine which brands stand out.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3592428703268870">article</a> was written by Xiao Xi for 36Kr.

Dreame’s robotic lawn mowers lead the pack with a smart LiDAR edge

East Asia

Dreame

Robotics

… intimidating. Some also flaunted their wealth and financial gains they connected with certain investments, luring others to follow suit.
However, "it has become easy for individuals to label themselves as finfluencers without a proper background," said Tauhid Ahmad, a senior analyst at the Institute for Development of Economics and Finance in Jakarta.
They often have limited understanding of risks and often fail to disclose promotional content, he added.
Rita Efendy, a certified technical analyst with over 20 years' experience in capital markets, similarly said that many finfluencers "lack the proper financial education or understanding" to give advice.
She threw her weight behind the OJK move, including the mandate to declare paid promotions, as some influencers receive hefty payments from companies.
"You see influencers claiming to work for multiple brokerages, which is illegal, and anyone who knows the rules wouldn't dare do that," said Efendy, who is also the founder of Indonesia Investment Education, an education center. 
She added that since the requirement for an investment adviser license is "complicated," it might be better for the OJK to create a so-called whitelist of securities broker representative licensees instead.
Bhima Yudhistira Adhinegara, the executive director of CELIOS, said oversight is indeed urgently needed over finfluencers as they frequently blur the line between education and paid promotion.
"People are swayed by influencers with vested interests, not by reading financial reports or analyzing a company's fundamentals," Adhinegara said. "Meanwhile, those who really teach how to read financial reports simply can't deliver the information as engagingly."
Vanessa Michelle Chandra, cofounder of CoinKami, a Jakarta-based media outlet focusing on cryptocurrency and financial news, taught herself about cryptocurrencies and started investing in them during the pandemic.
She now has about 60,000 followers on Instagram, adding that despite her background in graphic design, her team includes a certified analyst. She asserted that certification is necessary for people making financial recommendations.
"I myself never branded myself as an influencer," Chandra told Nikkei. "I just shared my own experience from the crypto industry, and after a while, a lot of people followed me."
Roy Shakti, who has a total of around 600,000 followers on Instagram and YouTube, said he supports the OJK's move.
"Naturally, professionals in the market have a different understanding of financial instruments than those who have only studied the theory," said Shakti, who is also the founder of Ritz Academy, an event organizer for financial and business education based in East Java.
"But the real danger lies in the sheer number of people now positioning themselves as experts to teach trading, often without the necessary experience," Shakti added. "While there's a place for entrepreneurs sharing their success stories, anyone educating the public on stocks must be licensed."
He added that he supports a regulatory model like in China, which "directly bans influencers from 'flexing their wealth.'"
"You won't find me promising easy money," Shakti said. "Instead, I teach people how to raise funding and avoid scams."
This article first appeared on <a href="https://asia.nikkei.com/spotlight/asean-money/indonesia-s-finfluencers-under-scrutiny-as-p2p-lending-bubble-bursts">Nikkei Asia</a>. It has been republished here as part of 36Kr’s ongoing partnership with <a href="https://www.kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/">Nikkei</a>.

Indonesia's "finfluencers" under scrutiny as P2P lending bubble bursts

Fintech

Lending

As the global home appliance market moves from rapid growth to tighter competition, innovation in cleaning appliances has slowed. Large household appliances are also under pressure to justify higher prices, forcing companies to rely on substantive technical advances rather than minor feature updates.
That shift set the backdrop for <a href="/company/dreame">Dreame’s</a> media and investor open day on December 17 and 18. Executives overseeing the company’s full product range, from vacuum cleaners to refrigerators, washing machines, air conditioners, small kitchen appliances, and water purifiers, outlined how Dreame is moving beyond single-purpose cleaning products toward a broader smart home lineup.
In the vacuum cleaner segment, previous growth cycles were largely driven by generational improvements in design and core performance. That model is losing momentum. Many brands, executives said, remain locked in marginal and largely homogeneous upgrades that fail to address deeper user pain points.
Since early this year, Dreame has introduced several new components across its vacuum range. One focus is the motor, which plays a direct role in suction and endurance. Dreame said it has developed a digital motor that can reach 200,000 revolutions per minute, which it claims is currently the fastest available. According to the company, the motor improves dust removal from gaps and carpets while allowing longer cleaning sessions without losing power.
To address hair tangling, a persistent industry challenge, Dreame’s floor cleaners use dual blades that the company describes as aviation-grade and titanium-coated. The system reportedly performs up to 2,000 cuts per minute. For wet cleaning, the company has also developed a compact air and water separation module that enables gas and liquid separation within limited space, reducing the traditional tradeoff between suction power and simultaneous wet-dry performance.
Dreame said the upgrades have translated into market gains. Yuan Guangyun, head of R&amp;D at Dreame’s vacuum division, said domestic vacuum cleaner revenue rose 40% year-on-year between January and November this year, while overseas sales increased 59% over the same period.
Beyond cleaning products, two broader shifts are shaping the appliance industry. Consumers are showing greater interest in higher-end products, paying more attention to design, ease of use, and software-driven features. At the same time, appliances are increasingly expected to work together rather than operate as isolated devices.
Drawing on its work in motion control, sensors, and fluid systems, Dreame is applying technologies developed for cleaning products to larger home appliances:
<ul>
<li aria-level="1">In air conditioning, the company said it addressed uneven airflow by launching the X-Wind model, which uses two bionic robotic arms to direct air. The system allows users to control airflow to different parts of a room rather than cooling the entire space evenly.</li>
<li aria-level="1">Refrigerators are another area of focus. Dreame showcased preservation features it said can extend the freshness of meat by up to ten days, as well as light-based temperature control intended to help fruits and vegetables retain moisture. Executives said future models are expected to analyze food conditions and offer dietary suggestions, although those features are still under development.</li>
<li aria-level="1">In small kitchen appliances, Dreame is targeting more flexible cooking. It introduced the DS50 air fryer and the AF60 steam and air fryer, which the company said are designed to cook food more evenly and handle thicker cuts. Along with its kitchen machine and automatic coffee maker, the products broaden Dreame’s presence in the kitchen.</li>
<li aria-level="1">Washing machines and water dispensers are positioned around health and convenience. Dreame said its washing machines can detect fabric types and adjust settings automatically, including low-temperature sterilization. Its water systems combine heating, filtration, and ice-making functions in a single unit.</li>
</ul>
Dreame said its system-level approach is intended to make whole-home intelligence more responsive to comfort and health requirements.
As of June 30, R&amp;D staff made up about 60% of Dreame’s workforce, and R&amp;D spending accounted for at least 7% of the company’s revenue.
Dreame is also expanding production. Construction has begun on its Nanjing manufacturing base, a RMB 4 billion (USD 560 million) project covering about 128,700 square meters. The site will include six production lines for refrigerators and washing machines and is expected to produce close to five million units a year.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3602307154347264">article</a> was written by Huang Nan for 36Kr.

Strong vacuum sales drive Dreame’s push into a broader smart home lineup

Consumer Economy

… strength lies in the “brain,” which represents models, navigation, and operation capabilities.
Previously, SenseTime specialized in large-scale software systems but had no standardized edge products. Through prior investments in hardware and component makers, ACE Robotics now follows an ecosystem model. We define design standards, co-develop hardware with partners, and keep our model layer open, offering base models and training resources.
<h3>36Kr: SenseTime has deep roots in security and autonomous driving. Which of those capabilities translate to robotics?</h3>
WX: R&amp;D systems and safety standards are two key areas. Both autonomous driving and robotics rely on massive datasets for continuous improvement. The validated “data flywheels” we’ve built significantly boost iteration speed. Meanwhile, the rigorous safety and data-quality frameworks from autonomous driving can directly enhance robotics reliability.
On the functional side, our SenseFoundry platform already includes hundreds of modules originally built for fixed-camera city management. When linked to mobile robots, these capabilities transfer seamlessly, extending from static monitoring to dynamic mobility.
<h3>36Kr: How do you view SenseTime’s evolution from visual AI to embodied intelligence?</h3>
WX: SenseTime’s path traces AI’s own progression from version 1.0 to 3.0.
In 2014, we were in the AI 1.0 era, defined by visual recognition. Machines began to outperform the human eye, but intelligence came from manual labeling: tagging images to simulate cognition. Because labeled data was limited and task-specific, each application required its own dataset. Intelligence was only as strong as the amount of human labor behind it. Models were small and lacked generalization across scenarios.
Then came the 2.0 era of large models, which transformed everything. The key difference was data richness. The internet’s texts, poems, and code embody centuries of human knowledge, far more diverse than labeled images. Large models learned from this collective intelligence, allowing them to generalize across industries and domains.
But as online data becomes saturated, the marginal gains from this approach are slowing.
We are now entering the AI 3.0 era of embodied intelligence, defined by direct interaction with the physical world. To truly understand physics and human behavior, reading text and images is no longer enough. AI must engage with the world. Tasks such as cleaning a room or delivering a package demand real-time, adaptive intelligence. Through direct interaction, AI can overcome the limits of existing data and open new pathways for growth.
<h3>36Kr: How does ACE Robotics’ Kairos 3.0 model differ from systems like OpenAI’s Sora or World Labs’ Marble?</h3>
WX: Kairos 3.0 consists of three components: multimodal understanding and fusion, a synthetic network, and behavioral prediction.
The first fuses diverse inputs, including not just images, videos, and text, but also camera poses, 3D object trajectories, and tactile or force data. This enables the model to grasp the real-world physics behind movement and interaction.
In collaboration with Nanyang Technological University, for example, the model can infer camera poses from a single image. When a robotic arm captures a frame, the model can deduce the arm’s position and predict its motion from visual changes, deepening its understanding of physical interaction.
The second component, the synthetic network, can generate videos of robots performing various manipulation tasks, swapping robot types, or altering environmental elements such as objects, tools, or room layouts.
The third, behavioral prediction, enables the model to anticipate a robot’s next move after receiving an instruction, bridging cognition and execution into a complete loop from understanding to action.
<h3>36Kr: How does the human-centric approach improve data efficiency, generalization, and multimodal integration?</h3>
WX: It combines environmental data collection with world modeling.
By “environment,” we mean real human living and working spaces. Unlike autonomous driving, which focuses narrowly on roads, or underwater robotics, we model how humans interact with their surroundings. This yields higher data efficiency and more authentic inputs.
We also integrate human ergonomics, touch, and force, which are all essential for rapid learning, and all missing in machine-centric paths.
<h3>36Kr: When do you expect human-centric systems to achieve large-scale adoption?</h3>
WX: The first large-scale applications will emerge in quadruped robots, or robotic dogs.
Most current quadruped bots still rely on remote control or preset routes. Our system gives them autonomous navigation and spatial intelligence. Equipped with ACE Robotics’ navigation technology, they can coordinate through a control platform, follow Baidu Maps commands, and respond to multimodal or voice inputs. They can identify people in need, record license plates, and detect anomalies.
Linked with our SenseFoundry vision platform, these robots can recognize fights, garbage accumulation, unleashed pets, or unauthorized drones, sending real-time data back to control centers.
This combination, supported by cloud-based management, will soon scale in inspection and monitoring. Within one to two years, we expect widespread deployment in industrial environments.
<h3>36Kr: Beyond the near term, which other applications are worth watching?</h3>
WX: In the medium term, warehouse logistics will likely be the next major commercialization frontier.
Unlike factories, warehouses share consistent operational patterns. As online shopping expands, front-end logistics hubs require standardized automation for sorting and packaging. Traditional robot data collection cannot handle the enormous variety of SKUs, but large-scale environmental data allows our models to generalize and scale efficiently.
In the long term, home environments will be the next key direction, though safety remains a major challenge. Household robots must manage collisions and ensure object safety, much like autonomous driving must evolve from Level 2 to Level 4 autonomy.
Progress is being made. Figure AI, for instance, is partnering with real estate funds managing millions of apartment layouts to gather environmental data, gradually moving embodied intelligence closer to the home.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3594866063835145">article</a> was written by Huang Nan for 36Kr.

SenseTime deepens its push into embodied intelligence with ACE Robotics

SenseTime

Embodied Intelligence