Innovation

Ant Group celebrated 2,733 employees, 7.5% of its workforce, who have dedicated over 10 years to the company. These “Decade of Dedication” awardees, averaging 39 years old, include key innovators behind initiatives like “Collect Five Blessings” and Yu’e Bao, with 45% in technical roles. CEO Eric Jing presented them with the “Entrusted with Fortune” gift set. In a humorous gesture, Jing offered a “conditional offer” to a 10-year-old boy, son of an honoree, for a job in ten years.

China’s *People’s Daily* advocates a shift from price wars to value-driven strategies for sustainable growth, criticizing “burning money” tactics as detrimental to long-term quality and innovation. The article emphasizes that focusing on customer satisfaction and technological advancements, supported by legal safeguards and industry collaboration, can foster healthy competition, benefit all stakeholders, and drive high-quality economic development. Initiatives are underway to curb “involutionary” competition and promote fair market practices.

Nvidia CEO Jensen Huang, despite the company’s $4 trillion market cap, feels constant pressure, stating Nvidia is “30 days from going out of business.” He attributes this to the rapid pace of technological obsolescence in the chip and AI industries. Nvidia faced near-bankruptcy twice: once due to the Dreamcast chipset failure and again from a graphics card design flaw leading to recalls. Huang’s commitment to innovation fuels his drive to guide Nvidia far into the future.

In a CCTV News interview, Nvidia CEO Jensen Huang lauded China’s technological innovation and vitality, emphasizing Nvidia’s 30-year commitment to the market. Huang highlighted companies like DeepSeek, utilizing the H20 chip for AI innovation, and Xiaomi’s advancements in electric vehicles. While avoiding direct answers regarding advanced chip supply under potential limitations, he noted that constraints can foster innovation, referencing Alibaba and DeepSeek’s achievements. He acknowledged China’s impressive development speed in the EV sector.

Xiaomi’s YU7 electric SUV has garnered over 240,000 pre-orders within 18 hours of launch, signaling a shift in China’s economic outlook. Defying expectations of a price war, Xiaomi focused on innovation and user experience with both the SU7 and YU7 models. Experts suggest Chinese consumers are willing to invest in domestic EVs that meet their needs and demonstrate quality, driving companies toward increased R&D investment. Ford CEO Jim Farley acknowledged China’s advanced EV technology, further highlighting Xiaomi’s potential as a major consumer brand in the automotive sector.

To celebrate its 10th anniversary, VAPORESSO launched “Innovation X” in Jakarta with a hypercar parade, kicking off “The Roar On Rush” world tour. The event showcased the XROS 5 and highlighted VAPORESSO’s focus on vaping innovation and user experience. The tour continues in Paris, London, and Las Vegas. VAPORESSO will also host online events in August, inviting users to explore technology and collaborate on future designs.

The AI industry faces a “Safety-Velocity Paradox” where rapid innovation clashes with responsible development. A public disagreement highlighted the tension between releasing cutting-edge models and ensuring transparency and safety through public system cards and detailed evaluations. While AI safety efforts exist, they often lack public visibility due to the pressure to accelerate development in the AGI race against competitors. Overcoming this paradox requires industry-wide standards for safety reporting, a cultural shift towards shared responsibility, and prioritizing ethical considerations alongside speed.

At Peking University’s 2025 commencement, YMTC Chief Scientist Huo Zongliang urged graduates to pursue foundational research and independent innovation. Reflecting on YMTC’s success in advancing China’s 3D NAND flash memory technology from its beginnings to a leading position, Huo highlighted the importance of perseverance and overcoming challenges. YMTC has achieved significant milestones, including developing China’s first 3D NAND flash memory and introducing proprietary architectures like Xtacking®, demonstrating a commitment to pushing storage technology boundaries.

Wheaton Precious Metals is relaunching its Future of Mining Challenge, offering $1 million to a cleantech venture revolutionizing water management in mining. The company seeks innovative solutions to boost operational efficiency and reduce environmental impact. Expressions of interest are due August 29, 2025. This initiative, in partnership with the University of British Columbia, aims to identify and commercialize groundbreaking technologies for a sustainable mining future.

At the Tianjin Summer Davos, Unitree Robotics CEO Xingxing Wang highlighted the robotics industry’s potential as the “next big thing,” positioning Unitree to capitalize on this trend. He credited Hangzhou’s business environment and the company’s clear goals for its rapid growth. From a one-man operation in 2016, Unitree now employs over 1,000 people and generates over 1 billion yuan in annual revenue, holding a strong patent portfolio with over 330 patents filed.