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… https://console.kr-asia.com/wp-content/uploads/2025/05/TXTK-Tax-Tech-Chen-Rui-768x512.png 768w" sizes="(max-width: 1080px) 100vw, 1080px" /><figcaption id="caption-attachment-152821" class="wp-caption-text">Chen Rui, special advisor on the Middle East for 36Kr Global and founder of TXTK Tax Tech, describing the processes of setting up in Dubai. Photo courtesy of DAFZ.</figcaption></figure>
Chen emphasized that selecting the right legal system is crucial. “The nature of your business will determine whether to adopt the common law framework of a freezone or the local laws applicable to firms serving the domestic UAE market,” she said.
She outlined three main types of company registrations: onshore companies, free zone entities, and offshore companies. Within the free zone category, designated zones like DAFZ may offer more generous tax benefits. “From a tax standpoint, free zones are treated as outside the UAE. Goods entering are duty-free, and sales to third countries are VAT-exempt. Eligible firms can enjoy 0% corporate tax,” Chen said.
Individual shareholders must have no criminal record, be in good health, and speak English. They must also enter the UAE at least once every 180 days. For corporate shareholders, transparency is key—they must disclose ultimate beneficiaries, provide passports, and not appear on sanctions lists.
Chen advised investors to be precise when selecting their business scope. “More is not always better. Choose only the activities you plan to pursue in the near term, as overly broad scopes may complicate bank account opening,” she cautioned.
On the compliance front, the UAE follows international accounting standards, with digital documentation as the norm. “Retention periods are five years for VAT and seven years for corporate tax records,” she said. Chinese software providers like Kingdee and Yonyou have launched localized versions for the Middle East to assist Chinese firms.
Tax policy in the UAE has evolved from consumption tax to VAT to corporate income tax. The current VAT rate is 5%, and corporate tax is either 0% or 9%, depending on eligibility. “Profits below AED 375,000 (USD 102,100) are tax-exempt; above that, a 9% tax applies,” said Chen. “From 2025, large multinationals with over EUR 750 million (USD 850 million) in global revenue will be subject to a 15% minimum tax rate under OECD rules. The UAE imposes no personal income tax—neither wages nor dividends are taxed.”
Bank account opening remains a major hurdle. “The key is a clean, transparent ownership structure and clear capital sources,” Chen said. “Banks want to know your suppliers, your clients, and whether you engage with high-risk or sanctioned countries. All this must be disclosed.”
As the UAE’s tax framework matures, Chen urges firms to stay alert to policy changes and operate in full compliance while benefiting from favorable conditions.
<h3>Special mentions</h3>
As a key window into international engagement, Shanghai’s Council for the Promotion of International Trade (CCPIT) and Chamber of International Commerce (COIC) Shanghai have played instrumental roles in advancing global trade ties—and offered strong support for the event.
<figure id="attachment_152816" aria-describedby="caption-attachment-152816" style="width: 1080px" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="size-full wp-image-152816" src="https://console.kr-asia.com/wp-content/uploads/2025/05/CCPIT-Shanghai-Wei-Hui.png" alt="Photo of Wei Hui from CCPIT Shanghai’s trade and investment promotion department." width="1080" height="720" srcset="https://console.kr-asia.com/wp-content/uploads/2025/05/CCPIT-Shanghai-Wei-Hui.png 1080w, https://console.kr-asia.com/wp-content/uploads/2025/05/CCPIT-Shanghai-Wei-Hui-720x480.png 720w, https://console.kr-asia.com/wp-content/uploads/2025/05/CCPIT-Shanghai-Wei-Hui-1024x683.png 1024w, https://console.kr-asia.com/wp-content/uploads/2025/05/CCPIT-Shanghai-Wei-Hui-768x512.png 768w" sizes="(max-width: 1080px) 100vw, 1080px" /><figcaption id="caption-attachment-152816" class="wp-caption-text">Wei Hui from CCPIT Shanghai’s trade and investment promotion department speaking during the April 16 event about support that Shanghai offers for business exchange between China and the UAE. Photo courtesy of DAFZ.</figcaption></figure>
“We’ve built a comprehensive outbound support system for enterprises,” said Wei Hui, business director of trade and investment promotion at CCPIT Shanghai. “Through exhibitions, legal protections, one-stop service platforms, training, and regional cooperation, we help Chinese companies globalize and serve as a bridge between domestic and international markets.”
In practice, CCPIT Shanghai has proactively promoted business exchanges between China and the UAE. The council organizes annual delegations to attend trade fairs in the region, and in October this year, it will host the Future Mobility Expo in Sharjah. It also maintains close ties with the UAE consulate in Shanghai and the Dubai Chambers’ local office. These partnerships have created opportunities for dialogue between Chinese businesses and UAE officials, easing market entry and lowering information barriers.
36Kr Global is a partner of the “Business Beyond Borders” event held by DAFZ on April 16 in Shanghai.

Chinese firms weigh Dubai as a base for global growth

China

Middle East

Cathay Pacific officially launched its direct route between Urumqi and Hong Kong on April 28, operating four weekly flights using Airbus A330-300 aircraft. The new service offers travelers in Xinjiang and China’s broader western region a more convenient link to Hong Kong—and, through it, to nearly 100 global destinations served by the Cathay Group.
Urumqi is the central aviation hub of Xinjiang and a key node in the Belt and Road Initiative, connecting northwestern China with Central Asia. Hong Kong, in contrast, is a well-established global center for finance, trade, and logistics.
Arnold Cheng, Cathay Group’s director for mainland China, said the airline envisions the new route as a two-way bridge: one that draws international travelers through Hong Kong into Xinjiang, and another that channels outbound passengers from Urumqi to the wider world. Speaking with 36Kr and other media, Cheng highlighted Hong Kong’s strong connectivity across East and Southeast Asia as a foundation for building a multidimensional air traffic network—anchoring Hong Kong as a global hub and Urumqi as a strategic outpost linking East Asia, Southeast Asia, and Central Asia.
Cathay also plans to leverage its multimodal transport network across the Greater Bay Area to consolidate passenger flows from cities like Shenzhen and Guangzhou. By integrating land transport with air routes, passengers across the region can travel to Urumqi via Hong Kong, boosting the network’s reach and operational efficiency.
Cheng noted that policy changes—such as eased transit visa rules—could further position Hong Kong as a compelling gateway for international visitors heading to Xinjiang. The route, he added, could help showcase Xinjiang’s tourism assets and drive upgrades in the local travel sector.
From the Xinjiang side, Lu Huibin, general manager of Xinjiang Airport Group, said Cathay’s new route responds to growing demand for air travel from the region and surrounding areas. He described the route as an enabler for expanding Urumqi’s role as an international aviation hub, linking Central and West Asia with the broader Eurasian market.
On the freight side, Cathay aims to maximize use of the route’s bellyhold capacity. With strengths in cold-chain logistics and high-value cargo, the airline is positioning Urumqi as a logistics gateway—forming a high-efficiency corridor between Central Asia and Hong Kong. From there, goods can be routed to Southeast Asia and global markets. The corridor is expected to improve cross-border logistics, reduce costs, and support trade in Xinjiang’s agricultural and manufactured exports.
Cathay’s latest financial results reflect the momentum behind these ambitions. In 2024, the airline reported revenue of HKD 104.37 billion (USD 13.5 billion), up 10% year-on-year (YoY). Net profit rose slightly to HKD 9.89 billion (USD 1.3 billion)—its highest since 2011. Passenger volume reached 22.827 million, a 26.9% increase over the previous year, with a load factor of 83.2%. The company added 15 new passenger destinations in 2024, restoring its flight volume to pre-pandemic levels.
Cargo operations also posted strong growth. Cathay handled 1.532 million metric tons of freight in 2024, up 10.9% YoY, with cargo revenue exceeding HKD 24 billion (USD 3.11 billion). E-commerce and increased electronics shipments were key growth drivers, while freight volume from Greater Bay Area cities surpassed previous-year totals.
With the Urumqi route now operational, Cathay expects to operate around 300 round-trip flights weekly between Hong Kong and 22 mainland Chinese cities during the upcoming summer travel season, more than any other carrier on the route.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3272417529880961">article</a> was written by Huang Nan for 36Kr.

Cathay Pacific’s new Urumqi route adds western China to its global network

Transportation

Travel

Mobility

Hong Kong

… much can Dermavon afford to spend scouting its next winners? The answer may ultimately define whether this spinoff becomes a sustainable force—or fades into the crowd.

Dermatology spinoff Dermavon files for IPO, with vitiligo drug as standout bet

Deep Tech

Biotechnology

Chinese automotive executives are touting safety features during the country's premier automotive show, after a high-profile crash involving assisted driving technology prompted regulators to clamp down on what they deemed "exaggerated" advertising.
Seres Group, which sells electric vehicles under the Aito brand, dubbed its Auto Shanghai news conference on April 23 an "intelligent safety launch event."
"Safety is the greatest luxury," said the company's president, He Liyang, stressing that the "safety of our users is our highest priority." He described the cars' technology as "intelligent assisted driving," a subtle but significant change from the broader "intelligent driving" he had used in the past.
Geely, the carmaker behind the Zeekr EV brand, said it invested RMB 2 billion (USD 280 million) to build what it calls the world's largest standalone safety testing facility, which will gradually begin operations at the end of this year. Local media reported that Gan Jiayue, CEO of Geely Auto Group, used the word "safety" 61 times during a 20-minute presentation at Auto Shanghai.
The more cautious wording and sharp focus on safety come after the Ministry of Industry and Information Technology told automotive industry representatives to stop "exaggerated or false advertising." According to minutes of the closed-door meeting, published by local media, they can no longer use words like "autonomous driving," "self-driving," and "intelligent driving" in their marketing.
The meeting followed a fatal highway crash involving Xiaomi's SU7 electric vehicle in late March. Xiaomi said the vehicle had been in "navigate-on-autopilot" mode when it approached road work and crashed into a concrete barrier at 97 kilometers per hour. The accident, which is still under investigation, killed three female passengers, according to local reports.
Unlike most of its peers attending Auto Shanghai, Xiaomi did not hold an opening-day news conference on April 23. Its low profile was a stark contrast to last year's show in Beijing, when CEO Lei Jun toured the venue and drew a huge crowd. The electronics company denied a report by Bloomberg that it will delay the launch of its new YU7 electric SUV, slated for June or July.
In mainland China, the majority of self-driving technologies are classified as Level 2, meaning drivers must keep their hands on the steering wheel at all times. China is actively pursuing Level 3 autonomous driving, which shifts liability from the driver to the automaker. Several companies are due to release Level 3-capable vehicles this year.
However, in Chinese, smart driving and self-driving are pronounced similarly, and some consider them synonymous. Photos and videos on Chinese social media appear to show drivers on highways falling asleep or playing video games with their vehicles in assisted driving mode.
These dangerous situations are "partly because of some car manufacturers over-promoting their product, partly because some of the consumers [are] probably abusing the system," said James Peng, chairman and CEO of Pony.ai, a company developing even more extensive Level 4 autonomous driving technology.
Speaking to reporters on the sidelines of Auto Shanghai on April 23, Peng said tighter advertising rules are "a good thing," as it is important to clarify drivers' responsibility. He was confident that the restrictions would not impact the development of his company, which announced a new generation of robotaxis at the automotive show and plans to have a fleet of 1,000 vehicles by the end of this year.
As recently as 2023, BYD founder Wang Chuanfu had told investors that "all that talk about autonomous driving is nonsense."
"One accident involving autonomous driving and the car becomes unsellable, and who takes the responsibility? It ends up being the consumer," said Wang at the time. "We believe autonomous driving will ultimately just be an advanced driver assistance system."
But in February this year, BYD started to deploy its <a title="" href="https://asia.nikkei.com/Business/Technology/BYD-aims-to-democratize-self-driving-tech-with-latest-God-s-Eye-system" target="_blank" rel="noopener">DiPilot autopilot system</a> in nearly all of its models to "democratize" self-driving tech. This reflected the rise of smart driving as a benchmark for Chinese automakers desperate for new sales points amid fierce competition—at least before the tragic Xiaomi SU7 crash.
In March, Geely Automobile Holdings CEO Gui Shengyue appeared to mock BYD's stance on smart driving, without naming its rival.
"Attitudes toward intelligent driving differ widely, some are genuinely commendable, while others are difficult to make sense of. Just a year ago, some critics dismissed autonomous driving as a scam. Now, they claim to democratize the technology," said Gui in a conference call.
In January, Geely's domestic sales surpassed BYD's. In March, it rolled out its new G-Pilot smart driving system.
Gui said his company's view was clear: "Without powerful computing, vast datasets and advanced models, intelligent driving, especially full autonomy, remains an illusion. In today's environment, we must treat autonomous driving with caution and respect. After all, safety is, and must remain, the core principle of automotive design."
Bill Russo, founder and CEO of Shanghai-based consultancy Automobility, said the technology had hit a "speed bump."
But he said that "China is, by nature, a market that experiments more and deploys in a way that encourages companies to learn. … There will be accidents."
This article first appeared on <a href="https://asia.nikkei.com/Business/Automobiles/Electric-vehicles/Chinese-EV-makers-pivot-to-safety-after-ban-on-exaggerated-ads">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>.

Chinese EV makers pivot to safety after ban on "exaggerated" ads

Geely

Zeekr

East Asia

Electric Vehicles

Konka Group reported a strong start to 2025. On April 29, the company posted first-quarter revenue of RMB 2.544 billion (USD 356.2 million), a 3.32% increase year-on-year. Total profit jumped 141.79% to RMB 258 million (USD 36.1 million), a result that underscores the momentum behind Konka’s two-pronged strategy in consumer electronics and semiconductors.
This synergy is becoming more visible. In February, Konka’s Chongqing-based unit, Konka Optoelectronics, showcased its latest micro LED chips at the 2025 Global Mini/Micro LED TechDays event. The company has already achieved in-house development and volume production of RGB epitaxial wafers and micro LED chips, positioning it to meet a wide range of market needs.
A key milestone is Konka’s progress in red micro LED chips. It has refined vapor deposition, activation, and bonding processes, reportedly reaching a 98% bonding yield rate. That indicative performance ranks among the industry’s best and lays the groundwork for broader commercial adoption.
On the semiconductor side, Konka is building vertically from the ground up, from materials to packaging and testing. Its Hefei-based subsidiary, Konsemi, has developed full-stack capabilities for storage controller chips, covering everything from IP and hardware to firmware and system integration. That depth enables it to target supply chain bottlenecks and drive localization across the value chain.
The company’s micro LED ambitions rest on two pillars: chip development and mass transfer. It has assembled an end-to-end supply chain spanning epitaxial chips, packaging, display modules, and finished screens—accelerating the commercialization of micro LED devices.
These upstream gains are now feeding into downstream products. For example, the Aphaea A7 television series now features Konka’s in-house artificial intelligence chips. The TVs command higher price premiums, signaling stronger product differentiation.
This integration also improves time-to-market. Years of experience with consumer-facing products give Konka a nuanced understanding of how components are used, enabling better alignment between upstream design and downstream application.
Konsemi’s storage controller chips and modules now power a wide array of devices—across consumer, automotive, and industrial markets. Applications include robotics, automotive electronics, security cameras, Wi-Fi 6 routers, drones, smart terminals, augmented and virtual reality headsets, TVs, smartphones, tablets, projectors, and industrial automation platforms.
The rebound in consumer electronics semiconductors is another tailwind. Following a downturn in 2022 and 2023, shipments of smartphones, tablets, laptops, and wearables are ticking up. The pace quickened in late 2024 with the release of new products, lifting overall industry sentiment.
Localization trends are gaining ground too. Chinese chipmakers continue to advance in design, fabrication, and packaging. Domestic chips are increasingly used in consumer electronics, further fueling sector growth.
Meanwhile, China’s household appliance market is hitting saturation—with penetration above 95%—shifting the industry dynamic from growth to zero-sum competition. In 2023, the top five white goods makers lost 4.2% in combined market share, a sign that single-product moats are eroding.
That raises the bar. Future winners will be those that build full-stack capabilities, and competition will depend on three areas:
<ul>
<li aria-level="1">First is technical depth. Companies must move beyond end products and develop upstream core components—creating a chip-to-module-to-device innovation loop. Konka has carved out defensible IP in gallium nitride power devices and MEMS (microelectromechanical system) sensors.</li>
<li aria-level="1">Second is ecosystem integration. Konka is aligning semiconductor advances with smart home platforms, transitioning from hardware sales to service-driven models built on integrated cloud-edge-chip architectures.</li>
<li aria-level="1">Third is defining next-gen use cases. As AI hardware matures, scalable commercialization will increasingly rely on breakthrough form factors. Konka is already deploying 1,530-micron-level chips across automotive and wearable devices.</li>
</ul>
These moves reflect a broader shift toward chip self-sufficiency. By localizing controller chips in its smart TVs, Konka has gained flexibility to respond quickly to market trends. Its evolution—from holding core patents to setting industrial standards—has allowed it to avoid the trap of commoditized competition.
While peers continue to compete on display sizes, Konka has tackled key barriers to 8K video performance by building its own chips. Meanwhile, the focus continues to shift from hardware specs to holistic user experience.
Ultimately, Konka’s two-track strategy is not just about product diversification. By treating semiconductors as the “operating system” of the industry, it seeks to redraw the map for what a traditional appliance company can be—and build new moats that others may find difficult to cross.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3273465238544768">article</a> was written by 36Kr Brand.

From TV maker to chip innovator, Konka delivers record profit jump in Q1

Hardware

<a href="/company/huawei">Huawei</a> officially introduced a new <a href="/industry/ai">artificial intelligence</a> deployment framework for the manufacturing sector on April 28, during an industry summit held in Guangzhou. The methodology includes a three-layer infrastructure model, five stages of AI maturity, and an eight-step implementation roadmap—designed to help enterprises integrate AI across both strategic planning and operational workflows.
Alongside the framework, Huawei also released 20 AI-powered solutions spanning seven manufacturing scenarios.
Liu Chao, vice president of Huawei and CEO of its manufacturing and large enterprises business unit, said the company's full-stack AI infrastructure is built to accommodate a wide range of manufacturing use cases, significantly lowering barriers to industrial AI adoption.
Working with partners, Huawei has developed modular AI solutions across segments including automotive equipment, mechanical electronics, pharmaceuticals, and light industry—as well as emerging fields like embodied intelligence.
One case in point is Huawei’s partnership with GAC Group. Together, the companies have built a smart R&amp;D platform to streamline vehicle design and engineering. Traditionally, it takes two to three years to bring a new car from concept to production. By integrating Huawei’s large language models (LLMs) and AI-driven toolchains, that timeline could be halved—from 36 months to just 18. This agility marks a major leap forward in product development.
At the summit, GAC and Huawei launched the smart R&amp;D solution and announced a pilot program to begin scaling the platform across operations.
The rise of LLMs has prompted Huawei to incorporate AI more deeply across its internal and customer-facing workflows. Feng Rui, deputy director of Huawei China’s smart manufacturing unit for government and enterprises, said Huawei has consolidated more than 13 million technical documents, 10,000 API manuals, and 8.5 million open-source code repositories into a unified R&amp;D data platform.
This foundation supports Huawei’s proprietary AI assistant and development-focused LLM. Feng noted that tasks like releasing a new software version—which previously took 9 to 18 months—could now be completed on a monthly cycle.
The demand for AI model deployment has surged following the debut of DeepSeek. According to Guo Zhenxing, vice president of Huawei’s enterprise business in China, over 300 companies are planning to deploy large models in 2025.
Some have already moved fast. FAW Group has boosted coding efficiency by 30% using DeepSeek’s capabilities. Guangzhou Pharmaceuticals Corporation built a knowledge base that spans R&amp;D, sales, and medical research, enabling faster knowledge reuse and applications like AI-powered search and competitive analysis.
whereRelatedArticle
Huawei has optimized DeepSeek across its Ascend platform, supporting everything from pre-training and fine-tuning to reinforcement learning and inference. The platform is designed for rapid secondary training and customization of large models.
Performance tuning has been a key focus. Huawei has aligned computing resources with model workloads, citing compatibility with advanced techniques such as model tensor parallelism (MTP), model layer aggregation (MLA), and scalable parallelism for expert models.
On the ecosystem front, Huawei has open-sourced its entire software stack for Ascend—from the CANN (compute architecture for neural networks) kernel to the high-level MindSpore AI framework. More than 100 partners in manufacturing have already built DeepSeek-powered applications on Ascend to address diverse industry needs.
The summit also featured breakout tracks focused on sectors like automotive, electronics, new energy, and computing components, offering industry-specific discussions on AI deployment.
Looking ahead, Guo said Huawei will continue supporting digital transformation across enterprises. In 2025, the company plans to deepen its end-to-end AI offerings—spanning data collection, transmission, storage, computing, management, and application—by delivering a unified intelligent infrastructure stack across connectivity, compute, storage, and platforms.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3272321127112839">article</a> was written by Deng Yongyi for 36Kr.

Huawei introduces new AI framework for manufacturers at Guangzhou summit

… like Rakuten in Japan. Meituan is building a system where every user can benefit and level up based on their spending. Airline loyalty programs are similar, but only apply to flying. Ours spans verticals.
<h3>36Kr: Why not follow those two models?</h3>
ZM: Because we’re targeting the entire user base. Every level needs to feel worthwhile.
Merchants can use our system to segment and target their customers. That opens up a much bigger roadmap.
<h3>36Kr: Is traffic still being funneled from food delivery?</h3>
ZM: I wouldn’t call it funneling. High-frequency businesses like food delivery are (figuratively speaking) natural springboards. The worry was that vouchers might cannibalize food delivery, but in fact, users bought more of them.
<h3>36Kr: Are newer services like Meituan Youxuan integrated yet?</h3>
ZM: Talks are still ongoing. But eventually, there will be one membership across all of Meituan. Old vertical-specific memberships—bike, hotel—will likely shed the “membership” label. Integration is underway, but it takes time.
<h3>36Kr: Are you asking each unit to contribute perks?</h3>
ZM: It’s not just about contributing perks, but helping each business line to reframe how user operations are managed under this new system.
<h3>36Kr: Is there resistance? Are there any business units reluctant to join?</h3>
ZM: There are always challenges, but a lot of business units feel the pain themselves. Coming from food delivery, I understand. When you’re running a business, you often find you can’t offer the best perks to your best users.
<h3>36Kr: Can you give an example?</h3>
ZM: Pricing, for one. Legally, businesses can’t discriminate on price. But merchants want to offer better deals to high-value customers. Businesses also want their subsidies to target real loyal users, not just those chasing deals. Memberships allow that kind of precision.
So we’re giving each business a new toolkit, not asking them for favors. Now, demand for integration is outpacing supply.
<h3>36Kr: Which units are moving fastest?</h3>
ZM: Food delivery, flash sales, and lodging have all contributed strong benefits. We're starting with lighter initiatives—weekly flash campaigns by membership tier, for example—and collecting data to refine the system before heavy product development.
<h3>36Kr: In your research, what’s the main pain point for merchants?</h3>
ZM: Probably the wastage of marketing resources on the wrong users. Promotions often attract “bargain hunters” who disappear when the deals end. Industries are stuck in price wars they don’t want. Memberships can help merchants invest more efficiently in real loyal users.
<h3>36Kr: So this is about user stratification?</h3>
ZM: Exactly—making stratification visible. Merchants can choose which tiers to reward. Users feel incentivized not to let perks expire. It drives better cross-vertical behavior. That's why I believe Meituan has a real shot at becoming a ubiquitous membership program—because it spans more lifestyle areas than any single vertical.
<h3>36Kr: Could this shift ad spending to Meituan?</h3>
ZM: Indirectly, yes. Merchants have two buckets of marketing spend: buying traffic (ads) and offering direct subsidies (discounts). Right now, membership mainly optimizes the subsidy side. Ad spending could be next, but that’s not the immediate focus.
<h3>36Kr: What does the ideal perks system look like in your mind?</h3>
ZM: We’re starting with discounts and savings because it’s simple and tangible. But in the long term, we’re moving toward services and experience-based perks. I can imagine a future where you flash your Meituan membership card offline—at a hotel, a restaurant, wherever—and receive instant upgrades or bonuses based on your tier.
<h3>36Kr: Will the membership ever become a paid product?</h3>
ZM: For consumers, no. For businesses, it’s not positioned as a profit center right now either. Our mission is to strengthen user engagement and drive business growth.
In the future, though, if we can help brands and merchants connect with millions of China’s best, most affluent consumers, the commercial potential will be enormous. If we choose to monetize, there are plenty of models available—but that’s not today's concern.
<h3>36Kr: What is Meituan’s management prioritizing when it comes to membership?</h3>
ZM: Any long-term, meaningful initiative starts with a high degree of ambiguity. Even for me, my focus evolved over the past three months.
Today, we have a shared vision that energizes everyone, and at least one method that makes sense. We’re not obsessing over monthly metrics like the number of perks or members.
<h3>36Kr: How has your thinking changed?</h3>
ZM: Initially, I was tempted to set hard KPIs, targets. But through continuous discussions, I realized that would constrain us too early. I’ve become much more relaxed—and more ambitious—about the project.
<h3>36Kr: You called it an S-level project. What does that mean in Meituan?</h3>
ZM: It means strong resourcing in terms of budget, leadership attention, and pace of decision-making. Compared to other S-level initiatives, the membership initiative is probably “SSS-level.” It’s rare to have a project that’s so strategic, so well-resourced, and given so much patience.
<h3>36Kr: Are there competitive considerations behind this push?</h3>
ZM: Of course. Every sector has its rivals. The real power of Meituan’s membership is that it cuts across verticals. When you face competition in travel, dining, or services, a cross-category membership brings cumulative advantages that single-vertical competitors can’t match.
KrASIA Connection features translated and adapted content that was originally published by 36Kr. This <a href="https://36kr.com/p/3262981102157568">article</a> was written by Ren Cairu for 36Kr.

Meituan rolls out cross-category membership in shift to retain users

On-demand Services

E-commerce

Ride-hailing

Food Delivery

Grocery Delivery

Retail

Consumer Economy

… This <a href="https://36kr.com/p/3272116824416645">article</a> was written by Li Xiaoxia for 36Kr.

Mingming Henmang files for IPO as China’s snack wars enter next phase

Consumer Services

Malaysia and Singapore are accelerating the rollout of their new joint special economic zone in a bid to hedge against rising global trade uncertainty under US President Donald Trump's administration.
Zafrul Aziz, Malaysia's minister of investment, trade, and industry, said last week that the need for the Johor-Singapore Special Economic Zone (JS-SEZ) and the economic interlinkage between the two Southeast Asian neighbors are now more crucial than before.
"[Trump's] '<a title="" href="https://asia.nikkei.com/Economy/Trade-war/How-Trump-s-Liberation-Day-tariffs-impact-Asia-5-things-to-know" target="_blank" rel="noopener">Liberation Day</a>' is a reminder that in the face of geoeconomic and geopolitical uncertainties, we must accelerate reforms," said Zafrul during his keynote at the JS-SEZ Joint Business and Investment Forum in Johor state's capital city of Johor Bahru. "The need for JS-SEZ and our country's economic interlinkage is now more important than ever. In fact, greater than ever."
In January, the two countries <a href="https://asia.nikkei.com/Economy/Malaysia-Singapore-economic-zone-to-focus-on-aerospace-medical-devices">formally agreed</a> to develop the special zone, aiming to build up high-value industries such as healthcare and semiconductors, which they hope will benefit both nations. New investment in the special zone—which covers 3,571 square kilometers—is offered incentives by the Malaysian government, such as tax breaks, subject to specific conditions.
The SEZ targets 50 major projects in its first five years and 100 by 2035, building on the traditional "twinning" model between the two nations—in which companies locate high-end R&amp;D and global business functions in Singapore while housing manufacturing and logistics in Johor.
Already, according to Johor's chief minister Onn Hafiz Ghazi, the zone secured MYR 27.4 billion (USD 6.4 billion) in investment approvals in the first quarter of 2025 and another MYR 23 billion (SGD 5.4 billion) is in the pipeline for April.
"Through the establishment of the Invest Malaysia Facilitation Centre Johor (IMFC-J), we have streamlined our investment processes. … We have introduced a fast-track mechanism that significantly reduces bureaucratic delays for priority investments," the chief minister said.
He added that the facilitation center is currently handling 42 projects under accelerated processing, which can now be achieved in 13–14 months, compared with two years prior. "This is not just about efficiency. It is a clear signal to investors: Johor is serious, responsive, and ready," he said.
With the US tariff threats looming, he proposed at the forum two initiatives to strengthen the special zone's competitiveness. One is the establishment of a Johor "regulatory sandbox," a supervised, flexible space to test innovative technologies, policies, and business models in sectors. The sandbox would offer time-bound regulatory exemptions to fast-track development, overseen by federal and state agencies under the IMFC-J.
Ghazi also proposed the creation of an ASEAN industrial park within the zone, tailored to attract high-value investments from the Regional Comprehensive Economic Partnership (RCEP) member countries, which include ten ASEAN states, China, Japan, South Korea, Australia, and New Zealand. The park would focus on advanced manufacturing, green technology, and digital sectors, offering custom incentives like tax breaks, simplified talent mobility, and relaxed fund repatriation rules.
At the forum, Singapore deputy prime minister and minister for trade and industry Gan Kim Yong warned that the renewed US-China tariff escalation risks destabilizing the rules-based multilateral trading order, and smaller economies will always be at the losing end, "at the mercy of larger powers."
"But in every crisis, there are opportunities. … As businesses begin to reconfigure their production and supply chain arrangements, new opportunities will emerge—for those who are nimble and fast to adapt to the new landscape," Gan said.
He pointed out that several companies are already capitalizing on the SEZ's twinning model. <a title="" href="https://asia.nikkei.com/Economy/Singapore-companies-seek-early-deals-in-new-Johor-special-zone" target="_blank" rel="noopener">Archisen</a>, a Singapore-based agritech firm, is collaborating with Johor's FarmByte to build a smart indoor vertical vegetable farm in Nusajaya Tech Park, and it's expected to yield over 300 tons of leafy vegetables annually.
Agrocorp is partnering with Japan's Megmilk Snow Brand to set up a facility in Johor to produce 6,000 tons of plant-based protein from climate-resilient crops. South Korea's SPC Group, which controls bakery chain Paris Baguette, has anchored its halal manufacturing in Johor and established its regional headquarters and innovation center in Singapore to support research and product development.
Singapore's Economic Development Board (EDB) managing director Jermaine Loy called for economic integration between the two nations.
"Amid global uncertainty, it's crucial that Malaysia and Singapore stay open to trade and investment. Regional economic integration matters now more than ever, and it is proof that we can succeed together, not alone," he said. "The fundamentals are strong. But what matters is delivery."
This article first appeared on <a href="https://asia.nikkei.com/Economy/Malaysia-Singapore-play-up-joint-economic-zone-amid-US-tariff-worries">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>.

Malaysia, Singapore play up joint economic zone amid US tariff worries

Singapore

Malaysia

Southeast Asia