Apple lobbies Trump administration for Chinese chips
Apple is lobbying the Trump administration for approval to buy memory chips from Chinese manufacturer CXMT Corp., the Financial Times reported. The U.S. tech giant approached the Commerce Department more than a month ago and has been communicating with other officials in Washington.
Meituan plans stock buybacks
Meituan plans to repurchase its shares as its current valuation is severely undervalued, Chief Financial Officer Chen Shaohui said. CEO Wang Xing acknowledged the food-delivery giant’s unsatisfactory stock performance in recent years. Meituan’s total market capitalization has dropped by more than HK$200 billion this year.
China releases national standards for AI agent interconnection
China has released seven national standards for AI agent interconnection, covering core areas such as architecture, identity, interaction and tool invocation. By unifying architecture and interaction rules, enterprises can reuse standard components, reduce custom development and shorten time to market.
NEWS SUMMARY
China’s outbound direct investment across all sectors reached 507 billion yuan in the first five months, a 3% year-on-year increase.
Volkswagen plans to expand its global layoffs to 100,000 employees, according to German media reports.
Contact editor Lin Jinbing (jinbinglin@caixin.com)
