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The Latest Breaking News from Meituan

China's Meituan says new AI model trained on domestic chips

Chinese tech giant Meituan has unveiled LongCat-2.0, a new AI model comparable to Google's Gemini 3.1 pro. This marks a significant achievement as it's reportedly the first trillion-parameter model trained entirely on domestically developed computer chips. This development is a crucial step for China in its pursuit of AI dominance…

The Economic Times

Business Brief (June 29): Apple Said to Lobby Trump Administration for Chinese Chips

Meituan plans stock buybacks, Volkswagen reportedly weighs expanding global layoffs to 100,000

Caixin Global

China seeks to rein in 'unfair' food delivery competition with new rules

China is seeking to crack down on 'unfair' competition among food delivery platforms by introducing new rules to limit subsidy campaigns that regulators say harm the economy. "These practices harm the interests of merchants operating on the platforms, delivery drivers and consumers, squeezing the real economy," the SAMR said.

The Economic Times

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Microsoft makes big AI inroads in China by selling OpenAI models

Microsoft is significantly growing its AI business in China, with ByteDance reportedly spending over $1 billion annually on its cloud and AI services. Despite US-China AI rivalry and concerns from competitors like OpenAI, Microsoft continues to sell AI models to major Chinese tech firms, fueling rapid revenue growth in the…

The Economic Times

Alibaba bids $1.5 billion for China grocer Pupu in Meituan fight

Alibaba is reportedly offering $1.5 billion for Chinese grocery delivery firm Pupu, initiating a bidding war to gain market share from rival Meituan. This move highlights intense competition for scarce retail assets in China's local commerce and fresh produce sectors. The escalating bids signal a potential return to market-share competition…

The Economic Times

Tech Brief (June 10): China Targets 10,000 Humanoid Robots in Commercial Use by End-2026

Chinese tech insiders cash out after AI stock rally, Pentagon adds Alibaba, Baidu, BYD and Nio to Chinese military-linked list

Caixin Global

Tech Brief (June 9): China’s Robotics Industry Index Rises 6.4%

UBS sees Hong Kong IPO fundraising reaching $50 billion in 2026 on tech surge, Tencent Cloud expands AI agent push

Caixin Global

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China’s Moonshot AI seeks $30 billion value in new funding talks

The developer of the Kimi chatbot has held early talks with prospective investors to raise more than $1 billion, people familiar with the matter said. The discussions have begun just as Moonshot is on the verge of closing a round led by Meituan that valued the AI firm at $20…

The Economic Times

‘The next China is still China’: McKinsey’s Joe Ngai and Nick Leung on why global business can’t write off the Chinese economy

“You can’t find another China. There’s no other China out there now," Greater China chair Joe Ngai says.

Fortune

Stock Index Futures Muted as Investors Parse Middle East Developments, U.S. JOLTS Report in Focus

June S&P 500 E-Mini futures (ESM26) are down -0.14%, and June Nasdaq 100 E-Mini futures (NQM26) are down -0.01% this morning, taking a breather after a recent rally, while investors assess the prospects for an end to the Middle East conflict.

Barchart

Tech Brief (March 27): Pony AI Robotaxi Revenue Jumps 129% as Fleet Expands

Meituan swings to 2025 net loss on bruising delivery war, China Mobile reports slowing revenue and profit growth

Caixin Global

Should You Buy the Dip in Alibaba Stock?

Down 22% from its 52-week high, Alibaba stock remains a top investment in December 2025, given its widening AI moat.

Barchart

Alibaba Folds Ele.me Into Taobao As China's Delivery War Heats Up

Alibaba Group Holding Limited (NYSE:BABA) has officially retired its longtime food-delivery brand Ele.me as it folds the service deeper into its instant-retail strategy to better compete in China’s intensifying delivery market.

Benzinga

Tech Brief (Dec. 1): Baidu Initiates Largest Layoffs in Years

Meituan swings to quarterly loss, Nexperia China says supplies resume for over 500 clients

Caixin Global

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Caixin Global

The Week Ahead (Dec. 1 to 7): Macron Visits China, Fed Ends Quantitative Tightening

Putin to visit India, Hong Kong holds Legislative Council election

Caixin Global

Tech Brief (Nov. 27): Li Auto Swings to Quarterly Loss on Slumping Deliveries

China sets 2027 targets to boost consumption, Didi’s net profit jumps 67%

Caixin Global

Tech Brief (Nov. 4): Baidu’s Robotaxi Service Expands to 22 Cities

Amazon and OpenAI sign $38 billion deal, PBOC to explore cross-border payment solutions with digital yuan

Benzinga

Alibaba Turns Local Shops Into Taobao Hubs In Fresh Challenge To JD.com And Meituan

Alibaba Group Holding Ltd (NYSE:BABA) launched a 2 billion yuan ($281 million) investment on Friday to build a nationwide network of Taobao-branded convenience stores that will support its fast-growing instant commerce and on-demand delivery business, Taobao Shangou.

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Caixin Global

Tech Brief (Oct. 31): China Launches $7.2 Billion Fund for Strategic Industries

U.S. to suspend 50% or more “affiliates rule” for one year, DJI under investigation in Italy for alleged price-fixing

Caixin Global

Tech Brief (Oct. 28): Meituan Releases Open-Source Video Generation Model

China’s securities regulator to deepen ChiNext board reforms, XPeng expands into the Baltics and Cambodia

Caixin Global

Business Brief (Oct. 17): U.K. Sanctions Chinese Firms Over Russia Ties

Chinese scientists report a major breakthrough in solid-state EV batteries, Indonesia confirms purchase of Chinese J-10 fighter jets

Benzinga

What's Fueling Alibaba Stock's Jump Past Its 52-Week High?

Alibaba Group's (NYSE:BABA) mapping and local services platform, Amap, reached a record 360 million daily users on the first day of China's National Day holiday, underscoring the company's growing push into the local services market.

Benzinga

Jack Ma Back At Alibaba? What's Going On

Jack Ma has re-emerged at the center of Alibaba Group (NYSE:BABA) as the company intensifies its push into artificial intelligence and revives competition with JD.com (NASDAQ:JD) and Meituan (OTC:MPNGY).

Benzinga

What's Going On With Alibaba Stock Monday?

Alibaba Group (NYSE:BABA) stock traded higher on Monday as its artificial intelligence endeavors continue to spur investor optimism.

Benzinga

Nvidia's China Chip Boom Faces Threat As Beijing Pushes For Homegrown AI

Nvidia (NASDAQ:NVDA) has popularized the accelerators that China should ditch, a top government adviser warned, urging the country to develop domestic chips that enable artificial intelligence.

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