China

A Chinese artist’s Ultraman-inspired grotto, carved into a cliffside, ignited both online buzz and scrutiny. Documented in a viral video, the ambitious project sparked debate over cultural appropriation. Authorities in Sichuan Province, a historical stone carving hub, highlighted the need for regulatory compliance. This artistic endeavor highlights the interplay between creative expression, cultural heritage, and government regulations in China.

In China, a man sparked a cross-country car theft spree after balking at the price of a return flight. The suspect, named Chen, allegedly stole multiple vehicles across several provinces, using them for transportation. He was apprehended after stealing eight cars in total and attempting to return to Dalian. All stolen vehicles have been recovered, and charges are pending.

China is boosting its consumer market with a new round of subsidies to encourage the replacement of old goods. ¥138 billion (approximately $19 billion USD) in central government funds will be released in Q3 and Q4, following the distribution of ¥162 billion in the first half of the year. The program is part of a larger initiative with a total of ¥300 billion allocated and currently about 50% utilized, covering appliances, electronics, and vehicles. Local governments are also expected to contribute.

The “Global Unicorn Enterprise Development Report 2025” reveals a booming unicorn market in 2024, with 1,212 companies globally, valued over $3.6 trillion. TikTok leads as the highest-valued unicorn. China ranks second with 372 unicorns, totaling $1.225 trillion in valuation. The report highlights industry trends, emphasizing FinTech and AI, and analyzes founder backgrounds, with masters degrees being the most common.

Huawei’s Eric Xu predicts a surge in 5G-connected car adoption in China, reaching 30% of new passenger vehicle sales by 2025 and 95% by 2030. He differentiates between connectivity approaches for the cockpit (B2C) and telematics (B2B). Recognizing challenges like IPR and pricing, Xu urges industry collaboration, with Huawei and GSMA playing key roles in resolving them.

JD.com CEO Xu Ran revealed impressive earnings for the company’s food delivery riders. Full-time riders in Beijing, Shanghai, Guangzhou, and Shenzhen now average nearly RMB 13,000 monthly, a significant increase. This increase comes despite comprehensive benefits. JD.com’s delivery arm is rapidly expanding, with over 120,000 riders and processing over 25 million daily orders, highlighting the company’s commitment to sustainable growth in the food delivery sector.

Published on CNBC, the article highlights China’s growing influence in the global refrigeration industry. Gree Electric Appliances, along with partners, spearheaded the development of two new international standards for refrigeration compressors (ISO 18501 and ISO 18483), marking a shift in the previously Western-dominated standardization. This achievement, driven by Gree’s technological advancements and self-sufficiency efforts, illustrates the company’s journey from dependence on foreign suppliers to a global leader in compressor technology.

Innovent Biologics initiated a Phase 3 trial (GLORY-OSA) in China for mazdutide, a dual GCG and GLP-1 receptor agonist. The study will evaluate the drug’s efficacy and safety in Chinese patients with obesity and moderate-to-severe obstructive sleep apnea (OSA). Mazdutide has shown potential in weight loss and metabolic improvements, representing a potential treatment for a condition that affects millions in China, where current diagnosis rates are low. This marks the seventh Phase 3 study for the drug.

GAC Group announced it will finalize dealer rebates within two months to bolster the automotive supply chain’s financial stability. This move, aligning with regulatory trends and calls for a healthier ecosystem from the China Automobile Dealers Association, follows similar commitments from other automakers. The initiative aims to foster high-quality development within the sector, with industry observers watching for similar actions from other major players like FAW Group and Dongfeng Motor.

Errol Musk, father of Elon, advocates for a nuanced view of China, seeing them as a brilliant and formidable competitor, not an adversary. He admires their drive and talent, inspiring him to excel. This aligns with his son’s perspective, who highlights China’s impressive infrastructure and workforce. Both Musks and Nvidia’s CEO acknowledge China’s skilled and dedicated people as a key driver of their progress.