Chinese artificial intelligence developer Zhipu AI crossed the HK$1 trillion ($127 billion) market valuation mark on Monday, becoming China’s first large language model company to reach a HK$1 trillion valuation at one point. The momentum also underscores growing investor confidence in China’s homegrown large language model developers. Zhipu AI’s shares jumped more than 42 percent during trading on Monday,…
China’s market regulator has ordered freight platform operator Huolala to stop using algorithms that unfairly suppress freight rates and to scrap rules requiring drivers to display exclusive vehicle decals. The State Administration for Market Regulation said on Thursday it had formally summoned Huolala under China’s anti-monopoly law and instructed the company to carry out a…
BEIJING — The China Development Bank (CDB) had issued 213.3 billion yuan (about $31.3 billion) in loans for technological transformation and equipment upgrades by the end of May, the bank said on Thursday. Covering sectors including industrial, energy and electric power, transportation and logistics, the loans supported 366 enterprises and 507 projects, CDB data showed.…
Chinese green technology company Envision Group announced on Thursday a sweeping plan to construct 5 gigawatts of green artificial intelligence computing centers across global desert regions, including the Gobi, by 2030. The company announced the plan as part of efforts to build stable, eco-friendly and cost-effective infrastructure for the AI era. The ambitious target was…
This photo taken on June 16, 2026 shows a view of Shanghai Disneyland in its 10th anniversary themed decorations in East China’s Shanghai. [Photo/Xinhua] Executives from Walt Disney Co and its Chinese partners have expressed optimism about prospects for Shanghai Disney Resort, unveiling a series of expansion plans as the resort celebrated its 10th anniversary…
On Tuesday, Yum China Holdings announced that it has entered into a definitive agreement to take full ownership of the Pizza Hut brand on the Chinese mainland in a $1.2 billion deal, a strategic shift that will eliminate ongoing royalty payments to Yum Brands. The move gives Yum China direct control of one of its…
As preparations accelerate for the 2026 Aichi-Nagoya Asian Games, which will kick off in less than 100 days, Chinese home appliance maker Haier has recently announced that its water purification systems have been installed in the National Olympic Sports Center in Beijing to support athletes and staff members during training and daily operations. According to…
Boeing Shanghai Aviation Services opens a new maintenance facility capable of servicing up to six aircraft simultaneously. [Photo provided to chinadaily.com.cn] A Boeing-backed aircraft maintenance joint venture in Shanghai has opened a new maintenance facility capable of servicing up to six aircraft simultaneously, expanding capacity as global airlines seek additional maintenance, repair and overhaul services…
Following a leadership shake-up at Sam’s Club China’s chairman level, the company’s chief merchandising officer role has also seen a transition. On June 17, Zhang Qing, chief merchandising officer of Sam’s Club China, resigned for personal reasons and will officially step down at the end of June 2026. In response, Sam’s Club said it is…
A Walmart store in Yichang, Hubei province, on June 6. LIU JUNFENG/FOR CHINA DAILY Walmart China will significantly strengthen food safety and compliance controls, the retail giant said after China’s top market regulator summoned its local membership retail arm Sam’s Club China over repeated food safety violations. The undertaking by Walmart China followed an official…