Tobias

Alibaba’s Taobao Now launched a 50-billion-yuan subsidy program, boosting consumer spending and merchant growth. Early data shows significant increases in orders for food and beverage categories, as well as retail products. This year-long initiative aims to invigorate urban service consumption and provide substantial benefits to both consumers and businesses, fostering a new integrated e-commerce and service ecosystem.

JD.com launched the Jiangsu Football Super League’s flagship store, featuring city jerseys and mascot merchandise. They are also running a promotion offering 1,000 100-inch TVs to residents of the championship city. The league’s popularity surge has doubled football item searches, boosted local produce sales by 82%, and increased delivery orders tenfold.

The U.S. government has authorized General Electric Aviation to resume supplying jet engines to China’s COMAC. This decision, alongside the reinstatement of other export licenses, signals a potential easing of trade tensions between the U.S. and China. These moves follow earlier U.S. restrictions on critical technologies, including those for jet engines, in response to Chinese export controls.

Gree Electric’s leader Dong Mingzhu prioritizes domestically cultivated talent, citing national interests. She emphasizes mindset, innovation, and responsibility over age or origin. Marketing Director Zhu Lei clarifies Gree values loyalty, diligence, and contribution, not foreign vs. domestic status once hired. The company seeks “hard workers” and “doers” aligned with its ethos.

Huawei’s Terminal BG announced new HarmonyOS 5 games, prompting user inquiries about Genshin Impact’s arrival. Huawei confirmed active development and technical discussions with developers, advising users to wishlist the game and expect notifications upon launch. MiHoYo, Genshin Impact’s developer, is recruiting beta testers for a HarmonyOS version. Huawei aims for 100,000 HarmonyOS applications this year to strengthen its ecosystem.

Gree Electric’s Market Director, Zhu Lei, stated that Gree’s focus on technological advancement, rather than price wars, has stabilized the air conditioning market for over 30 years. He contrasted this with other sectors experiencing intense competition and criticized brands that prioritize crushing rivals over sustainable profits. Lei urged Chinese manufacturers to uphold “Made in China” and lead collaboratively.

Taobao Flash Deals launched a RMB 50 billion subsidy program, leading to over 100% order growth for 589 brands on day one. Sectors like food, electronics, and apparel saw significant increases. Summer essentials, including heat-relief products and swimwear, are particularly popular. The initiative aims to boost consumer and merchant growth through coupons, red envelopes, and reduced commissions, fostering a collaborative consumption ecosystem.

American corporate leaders are increasingly open about AI’s potential to displace jobs. CEOs from Ford, JPMorgan Chase, and Amazon are predicting significant workforce reductions due to AI integration and automation. Experts suggest this shift reflects a growing private acknowledgment by executives of AI’s disruptive impact on human capital, with some warning that nearly all roles could be affected.

Xiaohongshu has officially denied rumors of an acquisition by Alibaba, labeling the speculation as “groundless.” This isn’t the first time such rumors have surfaced, with similar claims made in 2019. Xiaohongshu, founded in 2013, has seen its valuation reportedly surge to $26 billion, a significant increase from its previous $17 billion valuation at the end of 2023. Alibaba has not yet commented on the reports.

China is establishing national standards for non-invasive BCI medical devices, paralleling advancements in invasive BCI clinical trials. The BCI market is rapidly growing, with applications in healthcare, cognitive enhancement, and new human-computer interaction paradigms. Companies like Neuralink and Synchron are pushing boundaries, with widespread commercialization expected within five years. Micro-vision Holography is investing heavily in BCI, aiming to integrate it with robotics and quantum computing for diverse applications. BCIs are poised for significant growth and integration across multiple sectors.