Markets

Gree Electric Chairwoman Dong Mingzhu was nominated for the 2025 National Science and Technology Progress Award for her contributions to high-efficiency heat pump air conditioners. This recognition aligns with her recent statements about empowering younger leadership and her philosophy that talent is defined by capability and mindset, not age. Dong, 71, will continue to lead Gree for the next three years.

Romoss denies bankruptcy rumors amidst a large-scale power bank recall. Employees at their Shenzhen headquarters report normal operations with no layoffs. The company states refunds for recalled products are being processed within 15-30 days after verification. However, reports indicate delays on Taobao due to insufficient seller deposits.

Dream Vacations launches its 14th annual “Operation Vetrepreneur” contest, offering U.S. military veterans a chance to win a complimentary travel agency franchise. This year’s grand prize includes a franchise, a Carnival cruise for two, and comprehensive training. The contest aims to empower veterans with entrepreneurial opportunities, continuing a legacy of over $787,200 in gifted franchises since 2012. Applications are open until September 1, 2025.

Alibaba co-founder Jack Ma was recently spotted in Brussels, Belgium, specifically at the Grand Place. Netizens shared photos of the tech mogul, dressed casually and engrossed in his phone, accompanied by bodyguards. This sighting adds to Ma’s trend of appearing in various international locations since stepping back from his active role at Alibaba, continuing to draw public interest.

Meta’s aggressive hiring is driving up tech salaries, with reports of a $20 million, four-year compensation package for an ML Engineer. Leaked filings reveal high base salaries for roles like Software Engineers and AI Researchers, often exceeding $350,000 annually. This fierce competition for specialized talent, particularly in AI, is forcing companies to offer increasingly lucrative deals, setting new benchmarks in the industry.

Innate Pharma announced its total outstanding shares and voting rights as of July 3, 2025. The company reported 92,183,523 ordinary shares and 6,434, plus 7,581 preferred shares. Total theoretical voting rights stood at 92,962,943, with 92,944,368 exercisable rights. This disclosure complies with French regulatory requirements.

The US has resumed export of crucial aircraft components, including engines, to China after a month-long hiatus. This follows the recommencement of Boeing aircraft deliveries to Chinese airlines. This policy shift, alongside eased restrictions on chip design software and ethane, signals progress in US-China trade negotiations and a thawing of trade relations.

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.