1. (China Daily) Three key chip companies said on Thursday that the US had lifted export restrictions on chip design software for China and that they have resumed or are in the process of resuming sales and support to Chinese customers.  

    Siemens AG said in a statement that it has been informed by the United States Department of Commerce's Bureau of Industry and Security that export control restrictions on electronic design automation, or EDA, software and technology to Chinese customers have been lifted.  

    The restrictions, outlined in a letter sent by the US government to the German tech giant on May 23, are no longer in effect, the company said in a statement.  

    As a result, "We have resumed sales and support to Chinese customers," Siemens said.

    US-based firms Synopsys and Cadence Design Systems also said in separate statements that the US had lifted export restrictions on EDA for China, and that they were working to restore access to the recently restricted products in China.  

    Dubbed the cradle of integrated circuits, EDA software enables the design of billions of transistors on modern chips. It is essential for designing, verifying and testing integrated circuits, forming the backbone of modern chip creation.  

    Xiang Ligang, director-general of the Zhongguancun Modern Information Consumer Application Industry Technology Alliance, a telecom industry association, said the move showed that Washington wants to ease trade frictions with Beijing.

    "Previous US restrictions have ironically catalyzed China's progress in chips. The US government knows that the two nations are highly complementary to each other in the semiconductor sector," Xiang said.  

    As the world's largest semiconductor market, China is of great appeal to international companies, he added.  

    Meanwhile, Chinese chip design software companies are also making progress. Empyrean Technology Co, a chip unit of China Electronics Corp, is also a major Chinese player in the development of EDA tools. It has also gradually emerged over the years as a leading enterprise with a complete product line and strong, comprehensive technical strength in EDA for the entire semiconductor industry chain.

    Shanghai UniVista Industrial Software Group is also a key player. UniVista said it already has over 200 clients — including most major Chinese high-end chip designers — and its tools have undergone rigorous refinement through real-world applications, backed by what it describes as a "highly capable" technical support team.  

    On Thursday, the Ministry of Commerce said China will take countermeasures to safeguard its interests and firmly opposes any attempt to reach a trade deal that harms the nation's well-being.  

    He Yongqian, a spokeswoman for the ministry, made the remarks at a news conference, responding to questions about a new trade deal the United States reached with Vietnam.

    Under the trade agreement between the US and Vietnam, the US will impose a 20 percent tariff on Vietnamese exports to the US, and a 40 percent tariff on goods transshipped through Vietnam.  

    The ministry said that China has taken note of the trade deal and is conducting an assessment.  

    "China is pleased to see any parties resolve their trade differences with the US through equal consultations, but China firmly opposes any attempt to reach a deal at the expense of China's interests," said He.

    Source: By Ma Si, Zhong Nan and Wang Keju | China Daily | Updated: 2025-07-04 09:01

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  2. (China Daily) Siemens AG announced it has been informed by the United States Department of Commerce's Bureau of Industry and Security that export control restrictions on electronic design automation software and technology to Chinese customers have been lifted.  

    The restrictions, outlined in a letter sent by the US government to the German tech giant on May 23, are no longer in effect, the company said in a statement.  

    As a result, Siemens has restored full access to software and technology classified under Export Control Classification Numbers (ECCNs) 3D991 and 3E991, subject to applicable export control laws and regulations, and the group has resumed sales and support to Chinese customers, said the statement.

    Source: By Zhong Nan | chinadaily.com.cn | Updated: 2025-07-03 12:55

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  3. (China Daily) China's digital economy, high-tech industries and robotics sector -- key pillars of the country's new quality productive forces -- recorded notable growth last year, according to corporate income tax data released by the State Taxation Administration on Tuesday.  

    Last year, companies across the three sectors reported a 7.1 percent year-on-year increase in total operating revenue, with total profits rising by 5.2 percent, according to the data.  

    Specifically, the digital economy and its core industries recorded year-on-year growth of 5.9 percent in operating revenue and 2.7 percent in total profits last year. Among them, the information transmission, software and IT services sector posted an 11.5 percent rise in revenue and a 13.2 percent increase in profits.

    Last year, the combined revenue and profits of high-tech industries, including pharmaceutical manufacturing and aerospace, grew by 8.9 percent and 7.5 percent year-on-year, respectively.  

    During the same period, the sectors of special-purpose robots, consumer services robots and industrial robots saw year-on-year growth of 28.4 percent, 12.4 percent and 7 percent in operating revenue, respectively.

    Source: Xinhua | Updated: 2025-07-02 10:13

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  4. (Xinhua) China's State Administration for Market Regulation on Wednesday said that it has released a series of national standards for emerging industries such as artificial intelligence (AI).  

    Seven national standards have been released -- covering AI, information technology and the internet of things -- to provide technical support for the expansion of digital services and applications, the administration said.  

    Another five national standards cover data centers, cybersecurity technologies, and systems and software engineering, supporting deeper integration and interconnection throughout the digital economy.

    The administration has released national standards on the safety of electric earthmoving machinery and the general requirements for battery-swap systems, improving the standards system for the electrification of traditional construction equipment and supporting the green transformation and upgrading of traditional industries, the administration said.  

    It has also released a range of national standards covering such areas as elderly care and child care, transportation and energy, agriculture and rural development, and green and low-carbon development.

    Source: Xinhua | Updated: 2025-07-03 10:41

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  5. (Xinhua) With China's humanoid robot industry booming, battery technology has emerged as a limiting factor in performance, prompting some tech companies to develop more advanced batteries tailored to robotic needs.  

    Humanoid robots are venturing into diverse areas of our lives, from transporting parts in factories and participating in marathons to playing football and even boxing in the ring.  

    However, with a current endurance of just around two hours, humanoid robots fall significantly short of meeting the demands of more complex future tasks.

    According to the Institute of Physics under the Chinese Academy of Sciences, the energy consumption of robots mainly comes from mechanical movement, especially the lifting in the vertical direction and the rapid acceleration movements.  

    For example, when a robot performs a backflip, it may appear effortless, but it actually demands exceptionally high battery performance. The instantaneous discharge rate required can exceed 100 times that of ordinary batteries in daily use.  

    An insufficient discharge rate affects the robot's performance, while a heavy battery reduces its flexibility, and low capacity limits its practical use. These issues have become significant challenges for robotics companies.

    EngineAI Robotics Technology Co., Ltd., located in south China's tech hub Shenzhen, released an impressive robot dance video in March this year. In the video, the company's PM01 robot flawlessly performed the Axe Gang Dance from Stephen Chow's classic film "Kung Fu," capturing the dance's spirit with remarkable accuracy.  

    Zhang Nan, a hardware engineer at EngineAI, said that ternary lithium batteries are currently widely used in humanoid robots, and several existing products of EngineAI robots are also equipped with such batteries.  

    However, such lithium batteries have poor performance in thermal stability. With the development of humanoid robots, solid-state batteries with higher energy density, smaller size and better safety may be the future. "EngineAI is currently in contact with solid-state battery manufacturers for preliminary research," Zhang said.

    X Square Robot also faces similar challenges. Wang Qian, founder of the company, said that the company's goal is to have robots take over simple and tedious physical tasks, from electronic assembly work in factories and restaurant service to everyday household chores, making general-purpose robots an indispensable part of people's lives.  

    The batteries currently used by X Square Robot include ternary lithium batteries and lithium iron phosphate batteries. Their common problem is the low energy density, which affects the overall endurance of the robots. For robots to enter homes and other future application scenarios with high activity levels, they need batteries with higher energy density and, most importantly, maximum safety, Wang explained.  

    This year's government work report outlined plans to develop future industries like embodied intelligence, highlighting the humanoid robot sector as a key focus. According to the Chinese Institute of Electronics, by 2030, the market size of China's humanoid robots is expected to reach about 870 billion yuan (about 121 billion U.S. dollars).

    The swift response has come from tech companies, which are becoming the driving force behind innovation in the country. Some battery manufacturers have recognized this emerging demand and have already partnered with humanoid robot companies for research and development.  

    For instance, in June, battery giant CATL invested in Beijing-based Galbot, aiming to develop batteries for humanoid robots and to introduce robots into its production lines to achieve factory production automation.  

    BTR New Material Group, a Shenzhen-based battery supplier, in May launched the FLEX semi-solid and GUARD all-solid-state batteries tailored for humanoid robots. The company has achieved a balance between high performance and lightweight design through two major strategies: material innovation and structural optimization.

    For instance, the FLEX series' high-nickel ternary cathodes use molecular-level in-situ coating technology, which can effectively increase the energy density. The GUARD series uses a lithium-rich manganese-based cathode and a lithium metal anode design, which significantly increases the energy density of the individual cell.  

    According to Li Zikun, director of the company's research institute, the mainstream ternary lithium batteries have shortcomings in terms of energy density, safety and stability, and high-rate discharge performance for humanoid robots. Solid-state batteries can better meet these needs.  

    Li believes that batteries for future humanoid robots should meet three key requirements: a balance between high energy density and safety, optimized fast charging and discharging efficiency, and stability and reliability under special working conditions.

    The all-solid-state battery eliminates the risk of leakage and fire associated with traditional liquid electrolytes, providing a safety guarantee for use under extreme conditions, he said.  

    These high-energy-density designs can not only support the long-endurance needs of humanoid robots, but are also particularly suitable for increasing the payload in special application scenarios such as aerospace, Li added.

    Source: Xinhua  July 1, 2025

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  6. (China Daily) Zelos Group Inc, a Suzhou, Jiangsu province-based developer of Level 4 autonomous logistics vehicles, will ramp up efforts to expand its overseas footprint in countries and regions including Singapore and the Middle East, while consolidating its presence in China's fast-growing urban logistics sector, said senior executives.  

    The vehicles are capable of driving without human intervention in specific urban logistics scenarios, such as last-mile delivery tasks and short-range freight assignments, according to information released by Beijing Jiaotong University.  

    Officially entering the overseas market in early 2023, Zelos set up a major operations base for offshore business in Singapore, a strategic move aimed at accessing Southeast Asian, Middle Eastern and European markets.

    The Chinese firm secured Singapore's first permit for operating fully autonomous logistics vehicles on public roads in May 2024. Leveraging this regulatory breakthrough, the company is now working toward license approvals in the United Arab Emirates, Saudi Arabia and the United States using a hybrid model of direct subsidiaries, joint ventures and local partnerships.  

    Terry Zhou, managing director of Zelos Technology (Singapore) Pte Ltd — Zelos Group's overseas arm — said the number of the company's autonomous logistics vehicles operating on Singapore's thoroughfares will rise from three at present to 10 by the end of the year.  

    "When we first began doing business overseas, there were no clear rules allowing fully driverless Level 4 logistics vehicles on public roads. Most countries had not yet created laws for this kind of technology," said Zhou.

    "So, we collaborated with local partners to advance the legal process and encouraged governments to set up proper regulations," he said. "At the same time, we shared our experience and technology with regulators to help bring our proven driverless solutions from China to other countries."  

    To achieve its goals, Zelos Group plans to scale up to over 1,000 employees within two years and expand its manufacturing capacity in South China.  

    Unlike consumer goods, obtaining regulatory approval for autonomous vehicles overseas is far more complex. The licenses are typically issued not by local or municipal authorities, but by national-level transportation ministries. This means the approval process involves multiple layers of oversight across an entire country, making it more time-consuming.

    "Moreover, many countries still lack specific laws that allow autonomous vehicles to operate on public roads, so industry players need to do a great deal of groundwork in advance," said Pan Yuchang, general manager of Zelos Group's marketing department.  

    Highlighting that markets like the Middle East are extremely promising due to high labor costs and government support for innovation, Pan said the company's overseas team is working closely with local regulators in related work and accelerating commercialization.  

    Domestically, Zelos Group is capitalizing on favorable provincial policies in Shandong and Jiangsu provinces, where local governments have rolled out roadmaps for low-speed autonomous logistics vehicles.

    Pan said that these provinces are now among the most active deployment zones for Zelos Group's autonomous vehicles, which have already been integrated into operations by logistics companies, pharmaceutical distributors and even cold-chain food suppliers.  

    Zelos Group to date has supplied autonomous logistics vehicles to 190 cities domestically and provided support services for buyers.  

    "We are expecting to see wider provincial adoption as more local governments follow Shandong and Jiangsu provinces' lead in issuing regulatory guidelines," said Pan.

    Meanwhile, Zelos Group is expanding into China's hinterlands, including the Xinjiang Uygur autonomous region and Guizhou province, where vehicle testing and local government engagement are already underway.  

    Ji Xuehong, a professor at the School of Economics and Management at Beijing-based North China University of Technology, said Chinese companies' ongoing global expansion in autonomous driving reflects the broader competitiveness of the country's high-end electromechanical products in international markets.  

    Zhang said the export of smart logistics equipment, autonomous vehicles and industrial automation systems not only meets global demand for intelligent solutions, but also drives innovation and supply chain upgrades within China.

    Source: By Zhong Nan in Suzhou, Jiangsu province | China Daily | Updated: 2025-07-01 09:14

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  7. (China Daily) Chinese electric vehicle maker Nio said it is confident to "turn profitable" in the fourth quarter of this year, as the company sees delivery volumes stabilizing, margins improving and a global expansion strategy taking shape under a new partnership-led model.  

    "We delivered around 24,925 vehicles in June, and the momentum is clearly building," said Nio founder and CEO Li Bin on Tuesday.  

    "We're confident about hitting our fourth-quarter profitability target. The teams are executing better, the product mix is improving, and the cost structure is getting more efficient," Li said.

    The company's delivery rebound comes as Nio prepares to launch three major models in the second half of the year. Li said its L90, in particular, is poised to "redefine the family SUV segment" with its spacious design and innovations like a front storage compartment.  

    Li also highlighted the strong early performance of the Firefly — a compact EV targeting entry-level users. "Its June sales exceeded combined sales of the BMW Mini and the Smart EVs," he said.  

    In a significant strategic shift, Nio is moving away from a direct-sales model in global markets. After operating its own stores and swap stations in Europe, the company now plans to work through local partners for overseas market development, Li said.

    "We realized that globalization in this industry can't be rushed. It needs deep local roots. That's why we're changing our approach — Nio provides the products and service systems, and our partners handle market execution."  

    The comments come as China's EV industry increasingly positions itself not just as a manufacturing powerhouse, but as a leader in smart mobility innovation. Li pointed to China's unique combination of market scale, full-stack industrial capabilities and rapidly maturing tech infrastructure as key advantages.  

    "Ten years ago, foreign carmakers viewed China only as a supply chain base," he said. "Now we have the complete system — design, chipmaking, manufacturing and intelligent infrastructure."

    Nio has invested heavily in developing in-house technologies, including its own automotive-grade autonomous driving chips. The company was among the first batch of companies in China to mass-produce such chips, and it continues to prioritize safety in its autonomous driving rollouts.  

    "The real value of autonomy isn't just convenience. It's about preventing accidents," Li said. "We've always put safety first — from emergency braking to visual recognition — and we design our computing architecture to ensure performance can last a decade."  

    Li also reaffirmed Nio's longstanding commitment to battery swapping, with plans to reach more highway swap stations in the near term and extend coverage to county-level regions across China. "If every 180 kilometers has a swap station, long-distance EV travel becomes truly stress-free," he added.

    While the company remains focused on the Chinese market — where EV adoption is fastest — Li said international ambitions remain intact, just on a more patient timeline.  

    Nio's factory is located in the Hefei Economic and Technological Development Area, one of China's most high-performing industrial clusters. In 2024, its GDP grew by 8.5 percent, ranking seventh among 229 national-level zones.  

    "By integrating science and innovation with advanced manufacturing, Hefei is building world-class industrial clusters," said Wang Peng, deputy director of the area's investment promotion bureau.

    Home to over 1,200 large-scale enterprises, including Nio, Volkswagen Anhui and Lenovo, the area has attracted more than 90 projects from leading foreign companies and has built strong multimodal logistics capabilities.  

    Wang added that the area has become one of the world's leading hubs for EV research and development, and production, with more than 15,000 automotive R&D professionals.

    Source: By Cheng Yu and Zhu Lixin in Hefei | China Daily | Updated: 2025-07-03 10:02

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  8. (China Daily) From clinching a sweeping 9-0 victory at the RoboCup German Open in March to gearing up for the RoboCup 2025 in Salvador, Brazil, in July, a Chinese humanoid robot soccer team has been capturing global attention.  

    At the heart of this excitement is the T1 robot, developed by Beijing-based humanoid robotics startup Booster Robotics, which is breaking new ground in performance and design.  

    Standing 1.2 meters tall and weighing 30 kilograms, the T1 robot's kicking and goal-keeping movements have been significantly upgraded. It is now capable of delivering powerful shots, executing free kicks and performing fluid, human-like motions.

    Cheng Hao, founder and CEO of Booster Robotics, said the T1 model was specifically designed for developers with an emphasis on being lightweight, agile and exceptionally durable.  

    "For example, the robot can withstand hundreds of falls and still function without issue. To exaggerate a little, it can survive a rock-breaking stunt on its chest and stand up within a second," Cheng said.  

    The technical resilience and adaptability have helped the high-tech startup expand its market presence well beyond China. The company has already delivered hundreds of humanoid robots to customers worldwide, including in the United States, Germany, Switzerland, the United Arab Emirates and Japan.

    Behind this impressive performance lies a broader story of patient capital and strategic financial support for the country's rapidly maturing robotics industry.  

    Earlier this month, Booster Robotics completed its series A funding round.  

    Cheng said the funds will be mainly used to accelerate product iteration, improve manufacturing processes and scale up production to meet growing market demand.

    "The Beijing municipal government has also provided great support in terms of equity investment and major project funding, which has helped the company achieve technical and production breakthroughs in a short time," Cheng added.  

    This financial support ecosystem is no accident.  

    According to Liang Hongjun, a senior official at the Beijing municipal bureau of economy and information technology, the capital has built a world-class financing system for emerging industries like robotics.

    "The city government has set up a multibillion yuan robot industry development fund, with heavyweight investment firms such as Sequoia Capital, Hillhouse Capital and IDG Capital establishing a dense presence in the sector. This structure combines public funding with private capital, forming a complete investment chain that supports startups from initial research and development through pilot production to real-world application," Liang said.  

    Such systematic financial backing comes at a time when China is intensifying its focus on achieving high-quality economic growth and technological self-reliance through upgraded and innovative measures.  

    Last month, seven of the country's top entities — including the Ministry of Science and Technology and the People's Bank of China, the country's central bank — released a joint policy package aimed at building a comprehensive financial services system for the full life cycle of technology enterprises.

    In the field of venture capital investment, the document stated the need to strengthen the role of VC as a driving force for technological innovation. It calls for the establishment of national startup investment funds, encourages the development of secondary private equity market funds (S funds), and supports bond financing for both venture and industrial investments.  

    According to Shaw Wang, founder of Unity Ventures, technology innovation usually requires long-term, patient capital to endure its lengthy development cycles.  

    "Patience is the most critical quality for early-stage investment. Technological development is always a long journey — we must give entrepreneurs sufficient time and patience," Wang said.  

    Wang added that Unity Ventures is often the first investor in its portfolio companies, accompanying them from their earliest days and helping shape their strategies, fundraising plans, recruitment and branding efforts, with some investments even spanning seven to 10 years.

    The philosophy underpins the investor's portfolio, which includes Beijing-based Haawking, a chip tech startup that just completed a new pre-B+ financing round, bringing its total funding to several hundred million yuan.  

    As one of China's rare players in the field of digital signal processor chips, Haawking is the first in the world to design, develop, and mass-produce DSP chips using the open RISC-V instruction set architecture, a crucial step toward domestic technological independence.  

    "The innovative tech rose from a global DSP market which has long been dominated by US companies, with Chinese firms struggling to establish a meaningful presence," said Li Renwei, founder and chairman of the company.

    Li explained that the development of DSP chips has largely been a closed process, with existing instruction set architectures not open for external licensing. This means that domestic companies lack viable technical pathways for advancement. Over time, such a situation will hinder technological upgrades and product iteration, restricting the integration and compatibility of domestic operating systems, software and the broader application ecosystem.  

    "Against this backdrop, we innovatively use RISC-V instruction to resolve two critical issues, intellectual property rights and ecosystem compatibility, opening a secure, autonomous pathway for Chinese processor design," Li said.  

    According to the company, its self-developed Haawking-HX2000 DSP chip series, the world's first based on RISC-V architecture, has already developed more than 10 chip models. Several versions have entered mass production and are shipping at an annual volume approaching 10 million units.

    Li emphasized the company's heavy focus on innovation, noting that over 60 percent of its employees are research and development specialists and that total R&D investment has exceeded several hundred million yuan to date, which makes sufficient financial support a big role.  

    "Technological breakthroughs become even more valuable during periods of rapid market change," said Wang of Unity Ventures. "The more uncertain the environment is, the more we should invest in companies with breakthrough potential, as technology remains the underlying force driving social progress."  

    In this sense, Chinese policymakers are also moving to streamline capital market access for such hard-tech firms. One key highlight is the recent establishment of a growth tier to the STAR Market at the Shanghai Stock Exchange as part of efforts to deepen reform in the technology-focused board.

    Initiated by the China Securities Regulatory Commission recently, the move was coupled with the restart of a fifth set of listing rules for companies to float at the STAR Market, which allows the listing of rapidly growing but still unprofitable companies.  

    "Previously, the listing thresholds of the STAR Market made it difficult for many technology firms — those with major breakthroughs but not yet profitable or still in the R&D stage — to access the capital market," said Xu Chi, chief strategist at Zhongtai Securities.  

    Xu said the new policy offers more targeted support for high-quality tech companies with significant technological advances, broad market potential and sustained R&D investment, opening up financing channels to help these firms grow rapidly.  

    SSE data show that 54 unprofitable companies have been listed on the STAR Market since its launch six years ago. As of the end of 2024, these companies had achieved total revenue of 174.5 billion yuan ($23.93 billion), with 26 reporting annual sales exceeding 1 billion yuan.

    Source: By Li Jiaying | China Daily | Updated: 2025-06-30 09:29

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  9. (China Daily) After eight years of development, an innovative surgical robot has recently secured China's first domestic registration certificate for a coronary interventional surgical robot approved by the National Medical Products Administration.  

    Developed by Beijing-based medical equipment firm WeMed Medical Technology Co Ltd, the ETcath robot marks the country's first homegrown surgical robot for cardiovascular interventions.  

    "Our force feedback technology is the world's first of its kind — in simple terms, this robot has 'touch', capable of detecting forces as weak as 0.01 newton during surgery," said Yang He, CEO of WeMed. Without this force feedback system, a surgical robot cannot relay real-time tactile information to surgeons, increasing the risk of vessel penetration or damage, Yang added.

    Yang noted that the robot will not only boost surgical efficiency, but also dramatically improve working conditions for surgeons, helping to extend their professional careers.  

    "Interventional procedures lasting hours usually require surgeons to wear heavy radiation protection gear. However, with the robot, doctors will soon be able to perform surgeries remotely in normal clothing, no longer weighed down by such cumbersome protection," he added.  

    According to the company, in hundreds of pre-market clinical trials, the ETcath robot demonstrated a 100 percent surgical success rate.

    Yang said the approval for market launch means the surgical robot is now set to enter medical institutions nationwide. "The journey from project initiation to the first domestic robot-assisted coronary intervention in hospital, to securing the country's first registration certificate, spanned a full eight years," he said, adding that the team will soon embark on multi-center research projects to further showcase the robot's clinical applications across the nation.  

    "Beijing's strong innovation ecosystem and policy support from local authorities have greatly inspired our team to push technological boundaries and create breakthrough products," Yang said.  

    So far, the company has secured hundreds of patents, 80 percent of which are classified as invention patents. Driving this wave of innovation is a foundation of patient, long-term capital support.

    "Specializing in early-stage value investing and providing full lifecycle post-investment support, we aim to help many disruptive technology firms evolve from seedlings to industry leaders," said Tang Yinan, managing director of Marathon Venture Partners, a major investor in WeMed's development.  

    Tang emphasized that their investment philosophy goes beyond simply injecting capital. "We actively participate with expertise and resources, in an effort to accelerate China's landmark breakthroughs in independent medical technology innovation," Tang said.  

    As technology enterprises remain the driving force of innovation, recent policy signals in the financial sector have greatly boosted confidence among emerging pharmaceutical and medical device firms.

    The policy package to build a comprehensive financial service system that covers the entire lifecycle of technology companies released last month proposed establishing national startup investment funds to foster strategic emerging industries and future sectors, and promoting the transformation of major technological breakthroughs into real-world productivity.  

    In fact, earlier in March, the National Development and Reform Commission announced plans to launch a top-class national startup investment fund that is expected to drive nearly one trillion yuan ($137.2 billion) in regional and private capital.  

    According to the NDRC, the fund is designed to guide financial resources into early-stage, small-scale, long-term and hard technology investments, prioritizing seed and startup companies while supporting small and micro-enterprises in their early and middle stages. Its goal is to support original cutting-edge technological innovation and tackle critical, cutting-edge technologies.

    Zhao Heng, a senior researcher at the Fareast Credit's research institute, said the fund's design perfectly matches the growth needs of emerging tech firms.  

    "China's current financing system is dominated by indirect financing, accounting for around 70 percent. Traditional commercial banks, in particular, favor revenue, guarantees, and collateral — conditions that early-stage tech companies often lack. This supply-demand mismatch makes it difficult for small and medium-sized tech firms to secure sufficient funding that aligns with their long research and development cycles, hindering their technology development and market expansion," Zhao said.  

    Zhao added that the new national fund will not only provide long-term, stable capital to tech firms, but also leverage its role as a mother fund to attract private investment.

    "By guiding banks, insurance and other capital providers to co-invest, it will build a synergistic ecosystem combining government incentives, market-driven investment and professional operation," he said.  

    The analyst added the approach will help foster a thriving tech investment landscape, accelerate the transformation of scientific achievements into productive forces, and inject fresh momentum into China's drive for high-quality economic development.

    Source: By Li Jiaying | China Daily | Updated: 2025-06-30 09:33

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  10. (China Daily) Chinese NEV manufacturer BYD rolled out its first Brazil-made passenger vehicle from its factory in Bahia state on Tuesday, marking a new milestone in its global expansion.  

    "From breaking ground to the first car rolling off the production line, it has only taken us 15 months. This achievement heralds a new chapter for BYD and sustainable transportation in Latin America," said BYD Executive Vice-President Stella Li.  

    With a total investment of 5.5 billion reais ($1 billion), BYD's production base in Brazil manufactures pure electric and plug-in hybrid models, with a planned annual capacity of 150,000 vehicles.

    The factory, located in the coastal city of Camacari, benefits from a well-established auto supply chain and mature port logistics infrastructure. It is expected to create 20,000 job opportunities.  

    Jeronimo Rodrigues, governor of Bahia state, praised the completion of the BYD factory as a symbol of industrial development and a new chapter in Brazil-China cooperation.  

    He said Brazil is ready to embrace a greener, more innovative future, driving the local economy, employment, and technological transformation.

    Since BYD introduced its passenger NEVs to the Brazilian market in 2021, the company has sold 130,000 units cumulatively in the country.  

    In the first quarter of 2025, sales in Brazil exceeded 20,000 units, which put it in the top spot of local NEV sales. In May, BYD jumped to the fourth place in the Brazilian auto brand retail sales ranking, securing a 9.7 percent market share.  

    So far, BYD have entered the markets of more than 110 countries and regions worldwide. In the first half of 2025, its overseas sales exceeded 470,000 vehicles, jumping 132 percent year-on-year. It is projected that the full-year overseas sales will surpass 800,000 vehicles in 2025.

    Source: chinadaily.com.cn | Updated: 2025-07-02 15:20

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