China

Pony.ai and WeRide, Chinese autonomous driving firms, experienced stock declines in Hong Kong after raising a combined $1.17 billion in IPOs. The companies aim to use the capital to advance Level 4 autonomy, expand globally, and compete with Baidu’s Apollo Go and Alphabet’s Waymo. Regulatory hurdles in the U.S. and allegations between the companies add to the challenges. They also aim to partner with Uber and expand in China, the Middle East, Europe and Asia.

Jensen Huang’s remarks on China’s potential AI dominance have sparked debate. He initially cited lower energy costs and less stringent regulations in China as advantages, prompting concerns about the U.S. losing its AI leadership. Nvidia later clarified that the U.S. is currently ahead, emphasizing the need to maintain developer reliance on Nvidia chips. Restricted access to the Chinese market, coupled with China’s focus on domestic AI chips, has seemingly shifted Huang’s focus to factors hindering Western AI development, like regulation and energy costs.

Baidu’s Apollo Go robotaxi service is rapidly expanding, achieving over 250,000 weekly driverless rides as of October 31st, rivaling Google’s Waymo. Operating primarily in China, Apollo Go also plans international deployments. The company has fulfilled 17 million ride orders and driven 240 million kilometers, including 140 million driverless kilometers. Baidu emphasizes safety, reporting a low airbag deployment rate. Investors await Q3 earnings to assess Apollo Go’s financial impact and long-term strategy, amid intense competition in China’s autonomous driving sector.

The Dutch government seized control of Nexperia, a Netherlands-based chipmaker owned by China’s Wingtech, citing national security concerns, escalating geopolitical tensions. China responded with export controls on Nexperia products, threatening global automotive production due to reliance on these essential chips. Automakers warned of potential production cuts. Diplomatic efforts are underway, with possible exemptions to China’s export ban being considered, offering a glimmer of hope. The situation highlights the vulnerability of the semiconductor supply chain and growing scrutiny of Chinese-linked tech firms.

Nvidia CEO Jensen Huang defends selling advanced semiconductors to China, citing mutual benefits despite national security concerns and U.S. export controls. He acknowledges China’s AI leadership and significant market potential, estimating it at $50 billion this year. Huang also highlights Huawei’s technological prowess, emphasizing that underestimating China’s capabilities would be “foolish”. He believes collaboration serves both countries’ interests amid rising tensions.

Zeekr Intelligent Technology Holding Limited (ZK) announced October 2025 deliveries of 61,636 vehicles across Zeekr and Lynk & Co brands, a 9.8% year-over-year increase and a 20.5% month-over-month jump. Zeekr-branded EVs accounted for 21,423 units. The growth is attributed to customer trust, with over 2.15 million cumulative users. Zeekr focuses on differentiation through vehicle design, ADAS, OTA updates, and charging infrastructure. Analysts emphasize the importance of software, e-powertrain technology, and EV supply chain development for Zeekr’s long-term competitiveness.

President Trump indicated Nvidia’s advanced AI chips, particularly the “super duper chip” (GB200 Grace Blackwell), could be discussed with President Xi. Trump claimed US chip technology is a decade ahead of competitors. This comes amid export controls restricting Nvidia’s advanced chips to China, and a recent Chinese ban citing national security. Analysts believe China’s ban may be leverage in trade talks. Nvidia was developing a China-specific chip, the B30A, but the ban complicates this. Analysts warn easing restrictions could boost China’s AI ecosystem. Nvidia CEO Jensen Huang plans announcements in South Korea, potentially expanding Nvidia’s presence there.

Nvidia CEO Jensen Huang is visiting South Korea amid geopolitical tensions, coinciding with a Trump-Xi meeting. He’ll meet with SK Group and Samsung executives to discuss HBM supply, crucial for Nvidia’s AI systems. The trip follows Nvidia’s global infrastructure deals. Huang’s potential meeting with Trump raises questions about Nvidia’s future in China, especially concerning Blackwell chip exports, given Beijing’s push for domestic alternatives. Nvidia’s situation highlights the intertwining of technology, trade, and US-China relations.

Mercer projects a 4.0% average salary increase in China for 2026, up from 3.8% in 2025. Their *Total Remuneration Survey 2026* indicates a positive shift in company sentiment regarding salary adjustments. Individual performance and market competitiveness remain key drivers. High-tech is expected to lead with 4.9% growth, while consumer goods and automotive lag. First-tier cities anticipate increases aligning with the national average. A softening in talent mobility suggests a more stable labor market. Companies are advised to align compensation with strategic priorities.

Autohome Inc. (ATHM; 2518.HK) will release its Q3 2025 financial results on November 6, 2025, before U.S. markets open. A conference call will be held at 7:00 AM ET. Analysts are focusing on the company’s performance in a changing Chinese automotive market, including the effectiveness of its AI content strategy and the success of Autohome Mall. A live and archived webcast will be available at https://ir.autohome.com.cn. Autohome is adapting to increased EV adoption and competition, striving to diversify its revenue beyond advertising.