1. (China Daily) Iluvatar CoreX is considering an initial public offering in the Hong Kong Special Administrative Region, amid investor interest in Chinese mainland artificial intelligence chipmakers.  

    Shanghai Tianshu Zhixin Semiconductor Co, as the Centurium Capital-backed firm is formally known, is working with advisers on the potential share sale that could raise $300 million to $400 million, according to people familiar with the matter, who asked to speak on anonymity.

    Deliberations are preliminary and details such as size of the possible IPO are subject to change, the people said. Iluvatar CoreX, which makes the graphics processing units that are crucial to running AI services, didn’t respond to requests for comment.

    Iluvatar CoreX joins a pipeline of Chinese AI companies looking to go public in the HKSAR to tap investor interest in the sector.  

    The HKSAR’s market has picked up this year, with the emergence of DeepSeek spurring a rotation into the mainland stocks and helping to fuel a near 28 percent rally by the Hang Seng Index.

    Others planning IPOs in the HKSAR include MiniMax and Zhipu. Chipmaker Shanghai Biren Intelligent Technology Co is in the queue too, people with knowledge of the matter said. Biren didn’t respond to requests for comment.  

    Iluvatar CoreX is one of several startups vying to make chips to boost the mainland’s semiconductor capabilities. Founded in 2015, the company raised 1.2 billion yuan ($167 million) in a funding round in 2021 led by Centurium and Cedarlake Capital. Another round in 2022 included Beijing Financial Street Capital and Hopu and raised 1 billion yuan. 

    Source: China Daily by Bloomberg Published: 01:45, August 13, 2025 | Updated: 02:48, August 13, 2025

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  2. (Xinhua) Building on President Xi Jinping's 2023 proposal for the Global Artificial Intelligence (AI) Governance Initiative, the Chinese government has now called for the creation of a global AI cooperation organization.  

    In July, Chinese Premier Li Qiang announced the proposal during his address at the opening ceremony of the 2025 World AI Conference and High-Level Meeting on Global AI Governance, a three-day event held in Shanghai.  

    China's call comes amid intensifying competition among major global countries at a time when efforts to regulate AI remain fragmented. Despite mounting geopolitical tensions, there is a shared international interest in addressing risks posed by AI, including machine hallucinations, deepfakes and unchecked proliferation.

    An urgent need exists to build a consensus on how to strike a sustainable balance between technological advancement and security. As AI becomes embedded in every aspect of daily life, including public services, healthcare, finance and national defence, societies face the dual challenge of fostering innovation while managing complex risks.  

    Addressing these challenges requires inclusive dialogue among governments, industry leaders, researchers and civil society. The goal must be to ensure that AI develops responsibly, ethically and in alignment with the public interest and global stability. Much like the global financial architecture that has long been dominated by Western hegemony, there is increasing recognition that AI governance should follow a more multipolar trajectory. A balanced approach is crucial to prevent any single bloc from unilaterally shaping the future of this transformative technology.

    China envisions the proposed organization as a comprehensive, inclusive platform for international AI cooperation. It aims to foster broad participation that reflects the diverse priorities of countries across the globe. A key objective is to address the growing "AI divide" -- the technological gap between advanced economies and developing countries. Without coordinated action, the objective will be further marginalized in the accelerating global AI race, deepening existing inequalities.  

    The initiative emphasizes pragmatic, action-oriented collaboration to translate shared objectives into tangible outcomes. China seeks to unite countries to promote innovation, share technological expertise, and coordinate AI-related policies in a spirit of mutual benefit.

    The proposed organization would also work to unlock the transformative potential of AI across sectors such as healthcare, education, agriculture, and industry. China hopes this will catalyse more equitable global development, fostering inclusive growth, shared prosperity and stability in an increasingly interconnected digital world.

    The fragmentation in global AI governance stems in large part from the dominance of a few powerful countries pursuing narrow national interests. For decades, the West has disproportionately benefited from technological progress. However, the emergence of China, India, Singapore and other innovation-driven Global South countries is beginning to challenge this status quo.  

    Now is the time for the international community to align efforts toward establishing a robust, consensus-based framework for global AI governance, one that equitably serves the interests of all countries.  

    China is taking the lead by inviting interested countries to participate in shaping the proposed organization's structure and agenda. It is reaffirming its commitment to advancing both multilateral and bilateral cooperation -- a strategic yet inclusive approach.

    China's proposal signals a shift from passive participation to active leadership in global AI rulemaking. Its growing confidence in its AI capabilities, including large language models, facial recognition and industrial applications, positions it as a credible leader in this arena.  

    China is also offering to share its technologies, resources, and insights with the international community. This includes providing training, infrastructure and technology transfer to support other countries. By doing so, China positions itself as a partner in equitable development and a counterbalance to Western dominance in AI.  

    Its support for open-source development reflects a commitment to shared growth over control or profit, signaling a willingness to empower other countries, particularly in the Global South, through collaborative innovation.

    China has consistently promoted international cooperation in both software and hardware technologies, recognizing that addressing global AI challenges requires collective action. Through joint research, technical partnerships and knowledge exchange, China aims to democratize access to advanced tools, frameworks and platforms.  

    This strategy aligns with China's broader vision of inclusive technological growth. It emphasizes key principles such as "AI for good," fairness, respect for national sovereignty, and the development of non-discriminatory global standards.  

    Facilitating cross-border research collaboration is another major goal. By undertaking such efforts, China aims to reshape its image from a strategic rival to a constructive global partner.

    Yet a key question remains: can a truly inclusive AI governance framework be built in a deeply divided geopolitical landscape? Like it or not, China's approach, especially its willingness to share knowledge and promote open-source collaboration, is gaining traction, particularly among Global South countries. These countries increasingly view China as a transparent and reliable partner, in contrast to traditional Western frameworks that often come with geopolitical conditions.  

    China believes that by providing access to advanced AI tools, it can forge stronger political and economic ties through technology-driven diplomacy. Western powers, by contrast, tend to restrict AI access to preserve their strategic advantage and profit through technological concentration.

    As the AI arms race accelerates, the architecture of global technology governance is undergoing a profound transformation. China's latest proposal is more than a call for cooperation -- it is a strategic move to shape how AI is regulated, applied and understood globally.  

    Ultimately, the success of this initiative will hinge on its reception, particularly among Global South countries. These countries will play a decisive role in determining whether a truly multipolar AI governance structure emerges or whether current Western-led frameworks continue to prevail.

    Editor's note: Maya Majueran currently serves as the director of Belt & Road Initiative Sri Lanka, an independent and pioneering organization with strong expertise in Belt and Road Initiative advice and support.

    Source: Xinhua  2025-08-14 16:44:16

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  3. (China Daily) China's top market regulator and the Ministry of Industry and Information Technology have issued a draft notice seeking public feedback on tighter oversight of recalls, production consistency and marketing practices for intelligent connected new energy vehicles.  

    According to the State Administration for Market Regulation, the draft rules prohibit carmakers from naming or promoting combined driver assistance systems in ways that could lead consumers to believe they are autonomous driving systems or have functions they do not actually possess, in a bid to prevent driver misuse.  

    Companies should also avoid overstating vehicle performance or misleading consumers into driving at unsafe speeds, the notice said.  

    The market regulator will step up inspections of advertising and commercial promotions that exaggerate driver assistance capabilities or mislead consumers.  

    It will also direct recall technical bodies to assess cases of excessive marketing and conduct joint investigations with the ministry, taking enforcement action where necessary.

    Source: By Cheng Yu | chinadaily.com.cn | Updated: 2025-08-13 20:26

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  4. (China Daily) Mid-tier premium brands such as Volvo and Jaguar are struggling to stay relevant in the competitive Chinese market, as local EV marques woo their customers and more popular global brands, including Audi and BMW, push downward into their previous domains.  

    Once positioned well above mass-market offerings, these brands have been forced to slash prices in recent months to draw customers back into their showrooms.  

    Volvo is offering incentives with its XC60 SUV, which is priced starting from 250,000 yuan ($34,500). Jaguar's XEL now starts at just 160,000 yuan, and Lincoln's Z sedan begins at 170,000 yuan, according to the China Automotive News.

    Even Lexus — long known for holding firm on pricing — has joined the discounting wave, it reported.  

    The discounts have drawn some consumer interest, but they also point to deeper structural challenges.  

    Many of these brands have been slow to electrify their lineups or invest meaningfully in intelligent driving systems — areas where domestic EV players have rapidly gained ground.  

    "Consumers are no longer buying based on badge alone," Shi Hongtao, general manager at car rental and service platform Yian Yongche, told China Automotive News.

    Models such as the Arcfox S5 and Dongfeng eπ007, Shi noted, come equipped with large infotainment displays, voice control, and semi-autonomous driving features — technologies that were once confined to the high-end segment.  

    For many buyers, particularly younger consumers, such tech has become non-negotiable.  

    The effect is already visible. In the first half of 2025, China's car market grew 11.4 percent year-on-year, with new energy vehicles leading the charge.  

    But mid-tier premium brands bucked the trend. Volvo's China sales fell 5.9 percent to 59,400 units. Lincoln posted a steep 32.5 percent drop to 33,000 vehicles, while Jaguar Land Rover sold just 22,000 units — a fraction of their former volumes.

    For quite a while, these brands relied on large discounts to attract customers, particularly during market downturns.  

    But this strategy is rapidly losing effectiveness. "The model of trading margin for volume is breaking down," said one Beijing-based dealer for a European brand.  

    "Today, even if you cut prices by 40 percent, customers may still walk away. There's growing skepticism about the long-term value and brand direction."  

    Adding to their woes, second-tier premium players now find themselves caught in the middle.  

    If they maintain higher prices, they risk being undercut by more competitive EV offerings.

    Meanwhile, first-tier luxury brands like Mercedes-Benz and BMW are coming close to their pricing territory, eroding any justification for choosing the lesser-known marques.  

    Brand erosion is becoming a real concern. "If you sell a 300,000-yuan car at 150,000, the brand suffers," said Liu Jun, an auto dealer in Beijing.  "

    Consumers start to question whether the product was ever worth the original price. It undermines trust."  

    Liu believes the better path is to maintain pricing discipline and reinforce brand positioning through more exclusive offerings — such as personalized vehicle options, premium after-sales service, and a more curated ownership experience.

    "There is still demand for niche, high-quality products," he said, "but not if brands try to compete as volume players in a market they're not equipped to serve."  

    With competition in China intensifying and EVs commanding ever-greater mindshare, some foreign premium brands may shift their focus to overseas markets, where EV infrastructure remains underdeveloped and fuel cars retain a stronger foothold.  

    Some industry insiders believe a quiet retreat may already be underway. "The intensity of competition in China is unlike anything in Europe or North America," said Shi.  

    "If these brands cannot adapt to the pace of change — not just in technology, but in consumer expectations — their role in this market will continue to shrink. A full exit may not be imminent, but marginalization is already happening," he said.

    By Li Fusheng | China Daily | Updated: 2025-08-11 09:25

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  5. (China Daily) Researchers from Tianjin University have synthesized a human genome fragment exceeding 1 million base pairs in length — specifically 1.14 million base pairs — and successfully transferred it into mouse cells to verify its biological function.  

    This milestone overcomes critical technological bottlenecks in human genome synthesis and transfer, opening new pathways for biomedicine and genetic disease treatment.  

    The accomplishment addresses two long-standing challenges.  

    First, over 50 percent of the human genome consists of complex repetitive sequences, which academician Yuan Yingjin likened to "assembling a million-piece puzzle with near-identical fragments".

    Second, transferring lengthy DNA segments is exceptionally delicate; core team member Liu Yue described it as moving "a fragile artwork of glass beads prone to shattering".  

    The team focused on the AZFa region of the Y chromosome, where deletions cause untreatable male infertility. This segment posed extreme difficulties with over 69 percent repetitive content.  

    Using their novel "SynNICE" system, scientists employed a stepwise strategy: dividing sequences into over 200 fragments, assembling them hierarchically using the homologous recombination capabilities of baker's yeast and integrating components with CRISPR-Cas9.

    For transfer, they pioneered yeast nuclei as protective carriers. Yuan explained: "If DNA transfer is a moon mission, yeast nuclei are the spacecraft safeguarding genetic material."  

    Liu Yue added that this "natural transport capsule" prevents damage by shielding synthetic DNA within intact nuclei.  

    The breakthrough enables direct study of gene-function-disease relationships. Peking University professor Tang Fuchou noted SynNICE could extend viability of pig-to-human organ transplants from "years to decades".  

    Yuan emphasized interdisciplinary collaboration with Tsinghua University and hospitals, plus adherence to WHO-endorsed Tianjin Biosecurity Guidelines.  

    Supported by national resources, the team is now expanding SynNICE applications to tackle more health challenges.

    Source: By Yan Dongjie | chinadaily.com.cn | Updated: 2025-08-14 16:42

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  6. (Xinhua) China on Sunday sent a new test satellite into space from the Xichang Satellite Launch Center in the southwestern province of Sichuan.  

    The Shiyan-28B 02 satellite was launched at 4:55 p.m. (Beijing Time) aboard a Long March-4C carrier rocket and entered its preset orbit successfully.  

    The satellite will be used mainly for space environment exploration and related technology tests.  

    This is the 589th flight mission of the Long March carrier rocket series.

    Source: Xinhua   2025-08-17 18:23:00

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  7. (China Daily) Kingdee International Software Group reported strong first-half growth, driven by surging demand for its AI-infused cloud subscription services and continued leadership in China's enterprise software market.  

    Revenue for the six months ended June 30 rose 11.2 percent year-on-year to 3.19 billion yuan ($442 million), with cloud services up 11.9 percent to 2.67 billion yuan.  

    Cloud subscription revenue jumped 22.1 percent to 1.68 billion yuan, as annual recurring revenue climbed 18.5 percent to 3.73 billion yuan. Gross profit margin also improved to 65.6 percent.  

    According to market consultancy IDC, Kingdee maintained the largest market share in China across multiple enterprise application segments – from SaaS ERP and finance cloud to PLM cloud.

    It also became the only Chinese company listed in Gartner's discrete manufacturing PLM market guide, and earned top rankings in Gartner reports for high-productivity aPaaS and generative AI applications in enterprise management.  

    AI has become a major growth driver. In the first half, Kingdee launched its Cosmic AI Agent 2.0 platform and a suite of AI-native agents for finance, analytics, travel, recruitment and quoting, signing contracts worth more than 150 million yuan. New clients included Hisense Group, Tongwei Co and China Jinmao.  

    Its large-enterprise products Kingdee Cloud Cosmic and Kingdee Cloud Constellation generated 845 million yuan in revenue, up 34.3 percent, with subscription income soaring 41.1 percent and a net dollar retention rate of 108 percent.

    Mid-market solution Kingdee Cloud Galaxy lifted subscription revenue 19 percent to 740 million yuan, while small-business offerings Xingchen and Jingdouyun saw subscription sales rise 23.8 percent to 537 million yuan.  

    Kingdee also accelerated its overseas expansion, adding 259 new clients, which are Chinese enterprises going global and local overseas companies, including Singapore's SKYWIN Energy, and building localized applications for Singapore, Vietnam and Gulf markets. Partnerships with Standard Chartered, HSBC and Deutsche Bank aim to deepen capabilities in treasury, cross-border payments and fintech services.  

    Xu Shaochun, chairman and CEO of Kingdee, said: "AI+SaaS is reshaping the industry and unlocking unprecedented opportunities for enterprise management. With our AI-first, subscription-first and globalization strategy, we are confident in leading this transformation and achieving our vision of becoming the world's top enterprise management AI company by 2030."

    Source: chinadaily.com.cn | Updated: 2025-08-13 21:15

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  8. (China Daily) Chinese robotics startup X Square Robot is accelerating its development of general-purpose robots capable of performing precise and complex tasks, with applications spanning diverse fields including households, services and industries.  

    The company specializes in developing next-generation robots based on embodied intelligence foundation model and robotic systems powered by real-world data, said Wang Qian, founder and CEO of X Square Robot, adding that he is bullish on the prospects of AI in the robotics industry.  

    Wang said the company is dedicated to integrating both hardware and software technologies while promoting the innovation and development of embodied intelligence.

    Established in December 2023, X Square Robot's self-developed visual-language-action (VLA) model possesses strong multimodal capabilities, and enables robots to achieve autonomous perception, decision-making and high-precision operation.  

    The company's core team comprises experts from world-renowned AI and robotics laboratories, as well as scholars from top universities at home and abroad.  

    During the 2025 World Robot Conference, it launched a self-developed wheeled humanoid robot called Quanta X2 designed for diverse scenarios such as service, household and industrial applications.

    Source: By Fan Feifei | chinadaily.com.cn | Updated: 2025-08-13 18:29

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  9. (China Daily) Volkswagen Group China and XPeng announced on Friday that their jointly developed zonal electrical/electronic architecture, the China Electronic Architecture (CEA), will see broader adoption. Starting in 2027, the CEA will be deployed not only in locally developed Volkswagen-brand pure electric vehicles but also extended to combustion engine and hybrid models produced in China.  

    Equipped with central computing units, the CEA supports advanced driving assistance systems to enhance safety, features a cutting-edge smart cockpit with an AI-powered in-car assistant, and enables online updates. Additionally, the architecture helps reduce costs by minimizing the number of electronic control units and simplifying overall system complexity.  

    Ralf Brandstaetter, chairman and CEO of Volkswagen Group China, said: "By extending the CEA to our robust combustion engine fleet, we are strengthening our technological leadership in the conventional powertrain sector, and at the same time, we are systematically reducing our cost base, enabling us to continue offering highly attractive choices to customers in China's intensely competitive automotive market."

    The expanded cooperation with XPeng advances Volkswagen's "In China, For China" strategy, reinforcing its commitment to localized R&D. The initiative also includes a new Hefei innovation center via the Volkswagen (China) Technology Company (VCTC) and leverages CARIAD China, the Group's software hub, enabling faster responses to key market trends like digitalization and driving assistance through deeper local tech integration.  

    As part of these efforts, Volkswagen Group China plans to introduce 30 NEV models by 2027, with around 30 pure electric models expected by 2030 across its new AUDI, Volkswagen, and Audi brand lineups.

    Source: chinadaily.com.cn | Updated: 2025-08-15 17:23

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  10. (Xinhua) Chinese electric vehicle (EV) brands dominated Indonesia's EV market in the January-July period, according to data released Wednesday by the Association of Indonesia Automotive Industries (GAIKINDO).  

    Chinese automaker BYD topped the market in the first seven months, selling 16,427 units. Its strong performance was supported by popular models such as the M6, Sealion 7, Atto 3, Seal, and Dolphin. In late July, BYD launched its latest city car, the Atto 1, at the GAIKINDO Indonesia International Auto Show, attracting attention with a starting price of 195 million rupiahs (around 12,080 U.S. dollars).  

    In second place was BYD Group's premium sub-brand Denza, with 6,256 units sold, followed by Chinese manufacturer Wuling with 6,210 units. Chery ranked fourth with 5,196 units, while Aion placed fifth with 3,126 units.

    Overall, Indonesia's electric car sales reached 42,178 units in the January-July period, almost matching the total annual sales in 2024 of 43,188 units.  

    The Indonesian government has pledged to cut carbon emissions by shifting from fossil fuels to clean energy. 

    Source: Xinhua 2025-08-14 10:30:30

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