A Weekly Business Briefing from Yicai August 2nd

LINK THE WORLD

A WEEKLY BUSINESS BRIEFING FROM YICAI

JULY 29th _____ August 2nd

Chinese LED Display Makers Hasten Overseas Expansion via Paris Olympics

Chinese light-emitting diode display manufacturers are accelerating their expansion into overseas markets to make up for insufficient domestic demand, seeing the Paris 2024 Summer Olympic Games as the perfect stage to showcase their products and services to the world.

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((( Mega Projects )))

Breast Cancer Drug of China's Kexing Gets Go-Ahead to Enter EU?

A new breast, pancreatic, and lung cancer drug developed by Kexing Biopharm, a Chinese maker of recombinant protein medicines, has been given the green light to enter the European market.

The European Commission approved Kexing's injectable albumin-bound paclitaxel, sold as Apexelsin, the Jinan-based company announced.

BYD, Uber Ally to Bring 100,000 EVs to Key Global Markets

BYD and Uber Technologies have unveiled a partnership to bring 100,000 electric vehicles made by the Chinese auto giant onto the US firm's ride-hailing platform worldwide.

The multi-year collaboration will kick off in Europe and Latin America and then expand to the Middle East, Canada, Australia, and New Zealand, BYD announced. The pair will also ally in developing driverless vehicles for Uber's platform, it added.

((( AI Next)))

AI Will Drive Autonomous Driving, Three Other Major Trends, Xpeng Chair Says

The power of artificial intelligence will drive the development of autonomous driving, chips, large language models, and robots, and Xpeng Motors will take on these sectors, according to the chairman of the Chinese new energy vehicle startup.

((( New Moves )))?

Seres Stock Jumps After Chinese Carmaker Says to Invest in Huawei's Smart Driving Unit

Seres Group’s shares climbed after the car production partner of Huawei Technologies said it plans to invest in the Chinese tech giant's intelligent driving subsidiary, following a similar commitment by Changan Automobile.

Seres announced that it has entered talks with Yinwang Intelligent Technology and its shareholders. The carmaker hopes the investment will help support the unit, set up in Shenzhen early this year, to become an open platform serving the auto industry and develop into a world leader in the intelligent driving system and components industry.

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((( Cooperation )))

Shanghai, New York Explore Cooperation Benefits via River Dialogue

The "River Dialogue between Shanghai and New York," held on the 45th anniversary of establishing diplomatic relations between China and the United States, used exchange between the waterfront cities as an example to explore how to achieve win-win results via economic and trade cooperation.

((( Business Insights )))

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China Is World's Largest Chemicals Market, BASF’s Local Chairman Says

China has become the world’s largest chemicals market, and its growth momentum is increasing, according to the chairman and president of the Chinese arm of German chemical giant BASF.

China is an important growth engine for the future of the chemicals industry, which presents BASF with tremendous development opportunities and encourages the company to keep cultivating and investing in the Chinese market, Jeffrey Lou told Yicai in an interview.

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