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Tencent remained the top holding among China’s active mutual funds as of Q2 2025, followed by CATL and Kweichow Moutai. Xiaomi and Eoptolink entered t…

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Alibaba, China’s e-commerce giant, operates online retail marketplaces, cloud computing services, and digital payment networks across Asia and beyond.

China’s tech ecosystem serves as a driving force behind the world’s second largest economy, influencing global digital markets.

China

Explore East Asia’s thriving tech hubs, global electronics producers, and fast-evolving digital platforms shaping cross-border innovation.

East Asia

Ele.me, a Chinese online food delivery platform, partners with local restaurants to provide fast, convenient dining options to urban consumers.

Ele.me

JD.com, a Chinese e-commerce leader, ensures trusted transactions, efficient logistics, and a wide product selection for online shoppers.

JD.com

Meituan, China’s all-in-one local services platform, covers food delivery, travel bookings, and lifestyle deals, simplifying daily consumer choices.

What sets the bar for convenience? Examine on-demand platforms, subscription models, and personalization transforming consumer expectations.

Consumer Economy

How does dinner arrive at your door? Study platform partnerships, last-mile delivery, and culinary trends powering the takeaway economy.

Food Delivery

How do platforms deliver on immediacy? Analyze ride-hailing, instant deliveries, and gig models meeting consumer needs fast.

On-demand Services

Platforms are setting user and order records while investment banks issue warnings.

China's food delivery wars taking a bite out of Alibaba's, others' profits

Decoding China&#039;s tech and business pulse

KrASIA

As part of 36Kr’s ongoing partnership with Nikkei, you can read selected content from Nikkei Asia on KrASIA.

Nikkei Asia

What guides machine-led insights? Uncover AI applications, language models, and decision-making systems transforming sectors worldwide.

Artificial Intelligence

What lies beyond familiar frontiers? Investigate emerging tech—like quantum computing and AI—transforming traditional sectors.

Deep Tech

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With chip access in flux and scrutiny mounting, Manus has left China for Singapore, betting that neutrality offers a safer path forward.

Has China become too risky a home for AI startups? Manus thinks so

T. K. Lin

Photo of Augmentus’ co-founders. From left to right: Daryl Lim, Leong Yong Shin, and Chong Voon Foo.

How do markets shape wealth creation? Study portfolio diversification, asset classes, and strategies balancing growth and risk.

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When do companies invite public investment? Understand listing criteria, underwriter roles, and regulatory steps defining initial offerings.

Why do firms join forces? Investigate synergy goals, valuation methods, and negotiations driving corporate consolidation.

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Bringing you the latest updates on funding deals and activities in the Asia Pacific.

Deals in brief: Augmentus raises Series A+ funding, Coda to acquire Recharge, Origgin Capital debuts second fund, and more

An alias used when humans and machines team up in our newsroom. Articles under this byline may be shaped with the help of AI, but are always vetted by a human before publication.

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KrASIA tracks China’s tech and business stories—alongside key developments across the broader Asia Pacific region.

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<a href="/company/tencent">Tencent</a> remained the top holding among China’s active mutual funds as of Q2 2025, followed by <a href="/company/catl">CATL</a> and Kweichow Moutai. <a href="/company/xiaomi">Xiaomi</a> and Eoptolink entered the top ten, while <a href="/company/byd">BYD</a> and Wuliangye dropped out. Baijiu stocks saw the largest sector-wide outflows during the quarter.

<a href="/company/alibaba">Alibaba</a> has unveiled Qwen3-Coder, a 480-billion-parameter MoE code model built for agentic coding and tool use. With native 256,000-token context and large-scale reinforcement learning, it reportedly tops open-source benchmarks including SWE-Bench. A companion CLI tool, Qwen Code, has also been open-sourced.

<a href="/industry/ai">AI</a>-powered tools like <a href="/company/openai">OpenAI's</a> ChatGPT and Perplexity captured 5.6% of US desktop search traffic in June, more than doubling YoY, according to Datos. The shift is forcing brands to rethink outreach as AI generally delivers one answer instead of search links, reducing visibility and prompting a wave of optimization efforts.

<a href="/company/tesla">Tesla</a> has opened a retro-themed diner in West Hollywood, pairing 80 V4 Supercharger units with rooftop seating, mega LED screens, and classic American fare. Open to all NACS-compatible <a href="/industry/ev">EVs</a>, the site doubles as a car charging hub and entertainment venue.

The UK government has signed a non-binding agreement with <a href="/company/openai">OpenAI</a> to explore AI-driven public service upgrades in sectors like education, defence, and justice. The deal may involve data sharing and infrastructure investment, while critics warn of vague terms, weak safeguards, and tech overreach.

Elon Musk-led xAI is seeking USD 12 billion in financing through a chip lease deal arranged by Valor Equity, aiming to expand infrastructure for its Grok chatbot amid rising <a href="/industry/ai">AI</a> costs. The plan follows USD 10 billion already raised via stock and debt, as xAI burns cash and pledges key assets to stay competitive.

Kweichow Moutai and parent firm Moutai Group have established a RMB 1 billion research company to advance fermentation, biotech, and environmental technologies. Holding a 49% stake, Kweichow Moutai aims to consolidate R&amp;D resources and enhance product quality as part of its broader push for innovation and long-term growth.

Runtian, a Chinese bottled water firm pursuing a backdoor listing, has denied ties to viral online claims by a woman alleging past involvement with the company. She accused shareholders of asset misuse and raised personal debt disputes, but Runtian said she and her spouse have had no connection to the firm since a 2014 restructuring.

Pinhaofan, <a href="/company/meituan">Meituan’s</a> low-cost meal service, now supports over one million vendors and has grown branded restaurant partnerships by 64% YoY. With daily orders surpassing 35 million, it has launched a campaign to onboard 10,000 more brands, offering tailored support to reach price-conscious consumers and scale its value-focused strategy.

<a href="/company/deepseek">DeepSeek’s</a> chatbot saw downloads drop 72% and users decline 9% in Q2 2025, as Chinese consumers shifted toward <a href="/industry/ai">AI</a>-driven apps focused on productivity and study, according to QuestMobile. <a href="/company/bytedance">ByteDance’s</a> Doubao gained market share, while <a href="/company/tencent">Tencent’s</a> ima.copilot and 360 Wenku led in MAU growth.

Chinese brands are gaining ground in the global foldable phone market, with <a href="/company/huawei">Huawei</a> projected to reach a 34.3% share in 2025, just behind Samsung. <a href="/company/honor">Honor</a>, <a href="/company/lenovo">Lenovo</a>, and <a href="/company/xiaomi">Xiaomi</a> are also expected to gain momentum as they expand their lineups ahead of a potential demand surge in 2026.

Apple designs iPhones, iPads, and Mac computers, coupling sleek hardware with robust software ecosystems and service offerings.

Apple

The US market serves as both the backbone and the driving force behind global technological advancements.

Pang Ruoming built Apple’s foundational AI models, but secrecy and internal gridlock kept his team in the shadows—until he walked.

Trapped by silence: How Apple lost its top AI talent to Meta

36Kr is China's most influential business and technology network, delivering high-quality content focused on China’s innovation and new economy trends since 2010. With its extensive traffic and network, 36Kr has built a comprehensive database and strong data analytics capabilities to provide insights into China’s technology landscape.

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36Kr English

Built to predict the next best word, AI has become adept at reflecting human empathy. For many, that reflection is enough to offer comfort.

“This must be painful for you”: How AI became our emotional mirror

A real debate is brewing over whether Moonshot AI’s latest open-source model belongs in the top echelon of AI.

Tencent tops China mutual fund holdings

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