Tobias

As of July 1, 2025, China has updated its minimum wage standards, varying across provinces and municipalities. Most regions use a tiered system. Shanghai leads with a monthly minimum wage of RMB 2,740, and Beijing with an hourly rate of RMB 26.4. Minimum wage adjustments directly affect income distribution and improve employee benefits like overtime pay and social security contribution bases, benefiting the broader workforce.

NVIDIA’s H20 series AI chips have U.S. approval for reintroduction to China alongside a new RTX Pro GPU for the Chinese market. Morgan Stanley sees this as a positive catalyst for BAT, anticipating increased capital expenditure for AI, cloud services, and e-commerce enhancements. Chinese firms like Tencent and ByteDance are placing orders, requiring U.S. government approval. The move aims to counter Huawei’s dominance in the Chinese market by providing an alternative, potentially limiting Huawei’s global competitiveness despite its technological advancements.

Beijing Aniya, linked to influencer Da Xiang Ge, is undergoing simplified cancellation. Da Xiang Ge, previously a top content creator, revealed a debt exceeding ten million yuan following a failed investment of 12.49 million yuan (approximately $1.7 million USD) in a catering project where the partner allegedly absconded. Aniya also divested shares in Shanghai Lizhaoman in May, a company co-owned with the involved catering executive. The cancellation announcement period is from July 7-27, 2025.

Meituan’s local commerce CEO Wang Putao addressed merchant concerns about high commission fees in China’s competitive food delivery market. Merchants perceive commissions around 20%, while Meituan claims effective rates are 6-8%. The discrepancy stems from combining technical service fees (commissions) and delivery service fees. Wang explained that a significant portion of the 20% goes to subsidizing delivery costs, not platform revenue. He also clarified that marketing expenses are largely merchant-driven subsidies, not fees to Meituan, and the issue is low average order values during the “delivery wars”.

“Two Point Campus” will release its “Fantastic Follies” DLC on July 17th. The developers at Two Point Studios addressed the potential inclusion of real-world artifacts, acknowledging the sensitivities surrounding historical ownership, especially for a UK-based studio. They utilize humor and absurdity to avoid misrepresentation in culturally sensitive themes. They are exploring a potential DLC centered around Chinese culture, emphasizing the need for expert guidance to avoid cultural missteps and ensure respectful representation.

A U.S. investigation into the June 12th Indian Airlines crash, which killed over 270, suggests the pilot(s) may have deliberately cut fuel to both engines. Citing black box recordings, a CCTV report indicates the focus has shifted from technical malfunction to possible crew error. Indian Airlines hasn’t responded. The crash, involving a Boeing 787-8 shortly after takeoff, was initially attributed to disrupted fuel supply. However, experts find intentional engine shutdown unlikely, given the necessary actions and illogic immediately after takeoff.

Faraday Future (FF) has secured $105 million in funding to boost production of its upcoming FX Super One model and advance its AI technology roadmap. The package includes $82 million in new unsecured convertible notes and warrants. Existing investors, including Master Investment Group, and new institutions participated. Terms are more favorable compared to previous rounds. FF’s CEO Jerry Wang stated the financing will enhance the company’s ability to deliver the FX Super One and establish FF as a leader in intelligent electric mobility.

Sam’s Club is facing backlash for including mass-market brands like Orion Pies on its shelves, angering members who perceive this as a betrayal of its premium image. While some criticize the inclusion of domestic brands, these products often have exclusive formulations and are subject to stringent quality controls. The controversy highlights a conflict between perceived prestige and the retailer’s efforts to leverage local supply chains. Rapid expansion and a focus on cost reduction have led to quality control issues, prompting legitimate member complaints unrelated to brand origin.

Meituan’s Core Local Commerce CEO, Wang Putaozhong, revealed the food delivery business operates on thin margins, with Meituan achieving a mere 4% profit margin last year. Growth stems from scaling, not margin expansion. He highlighted the complexity and low per-order profits, contrasting Meituan’s 3% operating profit margin with the struggles of competitors like DoorDash, despite higher commissions. Satisfying merchants, riders, the platform, and consumers presents a constant challenge, making substantial profit margins unrealistic.

Meituan’s local commerce CEO, Wang Putao, addressed concerns about China’s food delivery “war,” acknowledging user anxieties and merchant fatigue caused by intense competition and subsidies. He suggested a return to “rational business judgment” as a path to resolution. Wang outlined potential war-ending scenarios, including annexation, stalemate, or external intervention. Industry insiders view the delivery battle as a platform competition for instant retail dominance, but the long-term sustainability of heavy subsidization is questioned. The benefits for riders and consumers are likely temporary.