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China’s Singles’ Day festival wrapped up after its longest campaign yet, with subdued spending underscoring continued consumer caution amid property and income worries. Despite deep discounts and subsidies from <a href="/company/alibaba">Alibaba</a>, <a href="/company/jd">JD.com</a>, and others, major platforms withheld sales figures as shoppers spread purchases throughout the year.

Chinese family entertainment brand Meland will open its first overseas location in Bangkok’s Siam Paragon by the end of 2025. Developed with Siam Piwat, the 5,000-square-meter indoor park will feature six themed zones, hundreds of play experiences, and collaborations with D’strict, marking Meland’s global debut in family-oriented entertainment.

Cursor has raised USD 2.3 billion at a USD 29.3 billion valuation, nearly tripling its value since June. Backed by <a href="/company/nvidia">Nvidia</a>, Google, and major venture firms, Cursor joins the ranks of companies valued above USD 10 billion. Its coding tool now generates more than USD 1 billion in annualized revenue.

Mihoyo confirmed that Xie Qiliang, marketing lead of <em>Genshin Impact</em>, has resigned for personal and career reasons after six years with the company. Xie joined from <a href="/company/netease">NetEase</a> in 2020, and his departure marks another leadership change as <em>Genshin Impact</em> enters a steadier operational phase.

Apple and <a href="/company/tencent">Tencent</a> have reached a deal allowing the iPhone maker to take a 15% commission on purchases made through WeChat mini games and apps, ending a longstanding payment dispute. The agreement gives Apple a new revenue stream in China and eases pressure on Tencent as both firms seek to stabilize ties in the world’s largest smartphone market.

<a href="/company/baidu">Baidu</a> unveiled Ernie 5.0, its natively "omnimodal" foundation model integrating text, images, audio, and video, at Baidu World 2025. The company also introduced new <a href="/industry/ai">AI</a> agents, including Famou and GenFlow 3.0, while expanding the global rollout of tools such as MeDo and its digital human technology.

<a href="/company/bilibili">Bilibili</a> reported Q3 2025 revenue of RMB 7.69 billion, up 5% YoY, driven by 23% growth in advertising. Net profit reached RMB 469.4 million, reversing a loss a year earlier, while adjusted profit surged 233% to RMB 786.3 million. Strong user engagement and cost discipline pushed margins higher, marking sustained profitability momentum.

<a href="/company/jd">JD.com</a> reported stronger-than-expected quarterly revenue of RMB 299.1 billion, up 15%, as subsidies and a push into quick commerce boosted growth. Profit plunged 55% to RMB 5.3 billion amid fierce discounting. The company also expanded abroad with a stake in Ceconomy but lost out on a potential Argos acquisition.

<a href="/company/weride">WeRide</a> and <a href="/company/grab">Grab</a> have received approval from Singapore’s Land Transport Authority to expand testing of their autonomous shuttle fleet in the city-state’s Punggol district. Trials began in October and will increase fourfold by year's end. The 11-vehicle fleet will pave the way for Singapore’s first residential autonomous shuttle service, expected to launch in early 2026.

Personal care brand Laifen is expanding into the floor washer market, a segment dominated by Ecovacs’ Tineco. The move follows Laifen’s push into shavers and electric toothbrushes as hair dryer sales plateau. Despite intense competition, the category continues to grow, reaching RMB 14.09 billion in sales in 2024.

China’s top legislature has approved revisions to the internet safety law, tightening oversight of generative <a href="/industry/ai">AI</a>. The updated rules take effect in January. The law now extends beyond telecom security to cover AI risk management and the labeling of synthetic media. The move follows a surge of fake disaster and crime images online, leading to detentions and stricter enforcement.

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

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Whoop’s screenless bands use a subscription model instead of one-time hardware sales.

Meet Whoop, the new face of fitness wearables that ditch the screen

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Xiaomi crafts affordable smartphones, wearables, and IoT devices, appealing to users who seek innovation, quality, and budget-friendly tech.

Once the dominant name in China’s AC market, Gree is feeling pressure as rivals like Xiaomi close the gap.

Gree’s earnings cool while Xiaomi heats up China’s air conditioner race

Tencent, a Chinese tech conglomerate, invests in gaming, social media, and cloud services, supporting entertainment and connectivity worldwide.

Unlike Alibaba, Tencent is scaling back capital outlays even as it reports strong earnings.

Singles’ Day ends with muted demand in China

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Meet Whoop, the new face of fitness wearables that ditch the screen

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