China Recap is a weekly roundup tracking Chinese companies expanding abroad, covering market entries, funding rounds, product launches, and global partnerships.
China’s corporate globalization strategy is evolving fast. Industry giants are rewriting the global playbook, while a new generation of companies charts fresh paths overseas.
China Recap tracks both—focusing on strategic expansion, brand building, and localized operations—to help readers make sense of shifting trends and understand how Chinese firms are reshaping their global approach.
This edition examines the scope of China’s artificial intelligence drive, as markets and infrastructure lead the way while new applications reshape industries from healthcare to entertainment.
Chinese AI firms dominate global Q3 gains
Chinese AI-related firms dominated markets in the third quarter, accounting for half of the top 20 global gainers by market capitalization. Foxconn Industrial Internet, Eoptolink, and Zhongji Innolight nearly tripled in value, while chipmaker Cambricon more than doubled to USD 77.8 billion. Investors are betting on China’s AI drive, though some warn of speculative excess. —Nikkei Asia
Biomap claims edge over AlphaFold
Biomap, a biotechnology startup co-founded by Baidu’s Robin Li and backed by Hong Kong’s government, said it has surpassed AlphaFold in commercializing AI models for drug discovery. CEO Wei Liu cited rising pharmaceutical adoption as Biomap expands through BioGend Science, a Hong Kong-based venture aiming to bring drugs to clinical trials within two years. —SCMP
Z.ai releases open-source GLM-4.6
Z.ai, formerly Zhipu AI, has released GLM-4.6, an open-source large model with enhanced agentic coding and expanded deployment options. The release marks the first FP8 and Int4 quantization integration on Cambricon chips and also runs with native FP8 precision on Moore Threads GPUs via the vLLM inference framework. —36Kr
Huawei plans to double chip output in 2026
Huawei plans to double production of its Ascend AI chips in 2026, targeting 600,000 units of the 910C model and up to 1.6 million dies across the lineup, according to people familiar with the matter. The ramp-up suggests Huawei and Semiconductor Manufacturing International Corporation (SMIC) are easing bottlenecks under US sanctions as Chinese firms seek alternatives to Nvidia. —Bloomberg
Moore Threads cleared for Shanghai listing
Chinese GPU maker Moore Threads has reportedly won approval for an IPO on Shanghai’s STAR Market, less than three months after filing. Founded in 2020 by former Nvidia executive Zhang Jianzong, the Beijing-based company plans to raise RMB 8 billion (USD 1.1 billion) to fund AI chip R&D. Blacklisted by the US in 2023, Moore Threads is part of China’s broader effort to bolster semiconductor self-sufficiency. —SCMP
AI-generated content gains ground in China
Chinese media groups including Tencent, iQiyi, and TVB are expanding use of AI-generated content. iQiyi has launched an “AI theater” with Oscar-winning cinematographer Peter Pau, Tencent is hosting an “AI short film competition,” and TVB has released Hong Kong’s first miniseries featuring AI-generated characters. Analysts expect China’s AI video systems to generate up to USD 1 billion in annual revenue by 2025. —SCMP
That wraps up this edition of China Recap. If your company is expanding internationally, we’d love to hear about your latest milestones. Get in touch to share your story.