(China Daily) Meitu Inc, a Chinese tech company known for its popular image-editing app and content-sharing software, announced on Tuesday a strategic partnership with Alibaba Group's wholly-owned subsidiary Alibaba.com China Ltd, and received a $250 million investment

The two companies will begin cooperation across multiple fields such as e-commerce platforms, artificial intelligence technology and cloud computing.

According to an announcement issued by Meitu, the company will issue convertible bonds to Alibaba's subsidiary with a principal amount of $250 million for a term of three years at an initial conversion price of HK$6 ($0.77) per share.

Meitu and Alibaba will carry out in-depth cooperation in e-commerce and AI model development.

(China Daily) Chinese NEV giant BYD has signed a strategic cooperation agreement with CAR, China's largest car rental platform, as the two companies deepen their partnership to accelerate the adoption of new energy vehicles in the country's fast-evolving mobility sector.

The agreement, signed on Monday at BYD's headquarters in Shenzhen, Guangdong province, outlines a wide-ranging collaboration centered on a major vehicle procurement plan for the 2025 summer vacation season.

(China Daily) Nasdaq-listed Pony.ai reported strong unaudited financial results for the first quarter of 2025 on Tuesday, buoyed by a surge in robotaxi revenues and progress on cost-efficient mass deployment.

Total revenue in the quarter rose 12 percent year-on-year to $14 million, underpinned by a 200 percent increase in robotaxi service volume and an eightfold jump in fare-charging revenue, said the Toyota-backed autonomous driving company.

(Xinhua) Google I/O 2025, the company's largest annual developer conference, kicked off on Tuesday in Mountain View, the US state of California, for a two-day event, featuring a series of product announcements spanning Google's entire portfolio.

One of the major highlights is Deep Think, a new "enhanced" reasoning mode for Google's flagship Gemini 2.5 Pro model.

(Xinhua) At the company's Build 2025 conference on Monday, Microsoft announced Microsoft Discovery, a platform that taps agentic artificial intelligence (AI) to "transform the discovery process".

Microsoft Discovery is "extensible," and can handle certain science-related workloads "end-to-end," according to the company.

(China Daily) CAS Space, a Beijing-based rocket maker owned by the Chinese Academy of Sciences, launched a Kinetica 1 carrier rocket on Wednesday afternoon, successfully placing six satellites in their orbit.

(Xinhua) China sent a new communication satellite into orbit Tuesday from the Wenchang Space Launch Site on the coast of the southern island province of Hainan.

The ChinaSat 3B satellite was launched at 7:50 p.m. (Beijing Time) aboard a Long March-7A carrier rocket. The satellite entered the preset orbit successfully.

The satellite will provide voice, data, radio and television transmission services.

The launch marked the 577th mission of the Long March series carrier rockets.

(Xinhua) China's commerce ministry on Monday condemned the United States for abusing export control measures targeting Chinese chip products, urging the country to immediately correct its wrongdoings and cease discriminatory measures against China.

Commenting on a revised U.S. announcement concerning Chinese chip products, the spokesperson said that the announcement in essence still contains discriminatory measures and will distort the market.

(AP) Shares in CATL, the world’s largest maker of batteries for electric vehicles, jumped more than 16% Tuesday in its Hong Kong trading debut after it raised about $4.6 billion in the world’s largest initial public offering this year.

The solid reception for the Chinese company, Contemporary Amperex Technology Co., in Hong Kong suggests there is still an appetite among international investors for leading Chinese manufacturers despite trade tensions between Beijing and Washington.

(Xinhua) China's tax and fee cuts, as well as tax refunds supporting sci-tech innovation and manufacturing totaled 424.1 billion yuan (58.97 billion U.S. dollars) in the first quarter of 2025, the State Taxation Administration said Monday.

Value-added tax (VAT) invoice data also indicated that structural tax and fee relief measures are accelerating the country's innovation momentum and high-quality manufacturing development, said the administration.
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