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Photo by FMT Summary Apple CEO Tim Cook praised DeepSeek's AI models ahead of Apple’s upcoming developer conference in Shanghai. Cook’s comments came during his visit to China amidst declining sales, particularly in China, and increasing tariffs. Apple plans to unveil details about Apple Intelligence for mainland developers at the Shanghai conference Apple's CEO, Tim Cook, has publicly praised DeepSeek's artificial intelligence (AI) models, calling them "excellent" ahead of Apple’s highly anticipated developer conference in Shanghai. Cook made these comments during the China Development Forum in Beijing, where he highlighted DeepSeek’s innovations in the AI space. This marks an important moment for Apple as it prepares to introduce Apple Intelligence to mainland China, pending final approvals.

Photo by FMT Summary Geely’s profit in 2024 surged by 213%, reaching 16.6 billion yuan, driven by strong electric vehicle (EV) sales and asset disposals. The company sold 2.18 million vehicles in 2024, including 1.76 million on the mainland and 414,522 exports. Geely’s sales grew by 34%, totaling 240.2 billion yuan, and it announced a dividend increase. Geely, China’s second-largest carmaker, has reported a remarkable profit surge in 2024, with a 213% increase year-on-year, reaching 16.6 billion yuan (US$2.3 billion). The company’s success was propelled by a si gnificant boost in electric vehicle (EV) sales and a notable gain from asset sales, positioning Geely for further growth in the highly competitive automotive market.

Summary Xpeng predicts that the robotics industry will surpass the automotive sector in size in the coming years. The company plans to mass-produce humanoid robots and flying cars by the end of next year. Xpeng is focusing on three growth areas: AI integration in cars, international expansion, and humanoid robot development. Xpeng, the Chinese electric vehicle maker, is making bold predictions about the future of robotics, stating that the sector will soon eclipse the automotive industry in size. According to Brian Gu Hongdi, the company's vice-chairman and co-president, robotics holds enormous potential due to its wide-ranging utility applications and the large-scale market it can serve. Gu emphasized that while humanoid robots may not be available for households in the next few years, commercial deployments in settings like factories and retail outlets are already underway.

Photo by FMT Summary Tencent's fourth-quarter profit surged by 90%, reaching US$7.1 billion, driven by strong performance in gaming and AI advancements. The company’s revenue grew by 11% to 172.4 billion yuan, exceeding analyst expectations. For the full year, Tencent's profit rose by 68%, with revenue growing by 8%. Tencent Holdings, the Chinese technology giant, reported a remarkable 90% increase in its fourth-quarter profit, driven by robust growth in its video gaming business and advancements in artificial intelligence (AI). The company’s quarterly profit reached 51.3 billion yuan (US$7.1 billion), surpassing analyst expectations of 43.9 billion yuan, signaling the company’s strong market position despite external challenges.

Photo by FMT Summary Tesla plans to introduce a cheaper version of the Model Y, which will be 20% less expensive than the current models. The company is also enhancing its self-driving technology in China by collaborating with Baidu for better integration with local map data. Tesla’s market share in China has dropped significantly, from over 16% in 2022 to just 4.3% in February 2025. Tesla, the global electric vehicle leader, is making strategic moves to regain its competitive edge in the Chinese market, which has seen a significant downturn in sales. The company is set to launch a cheaper version of its popular Model Y in China, with a price cut of approximately 20%. This move is part of Tesla’s broader strategy to combat the fierce competition from local Chinese electric vehicle manufacturers, which have rapidly advanced in both price and technology.

Photo by FMT Summary PDD Holdings, owner of Temu and Pinduoduo, reported an 87% increase in annual profit for 2024, thanks to strong revenue growth in online marketing and transaction services. PDD’s net profit reached USD 15.4 billion, with revenue climbing by 59% to USD 54.3 billion. The company’s expansion plans are facing challenges due to global competition, but its focus on innovation and strategic investments is expected to help it navigate future obstacles. PDD Holdings, the parent company of Temu and Pinduoduo, saw a significant 87% profit surge for 2024, driven by impressive growth in its online marketing and transaction services divisions. The company’s net profit hit USD 15.4 billion, marking a dramatic increase compared to the previous year. With revenue soaring by 59% to USD 54.3 billion, PDD demonstrated its robust performance in the highly competitive e-commerce sector.

Photo by FMT   Summary DeepSeek has quickly become a strong competitor in the global AI race, ranking third in performance, only behind OpenAI’s top models. The company’s model, DeepSeek-R1, offers lower pricing than leading models such as OpenAI’s GPT-4.5, providing a cost-effective option for developers. DeepSeek's rise reflects the growing influence of Chinese AI models and their ability to compete globally in both performance and price. China’s AI industry has rapidly gained ground on its Western counterparts, with DeepSeek-R1, an advanced reasoning model developed by the leading Chinese AI start-up, reaching impressive performance levels. DeepSeek-R1 achieved a score of 60 on the Artificial Analysis Intelligence Index, making it the third most intelligent AI model globally, behind OpenAI’s o1 (62) and o3-mini (66).

Photo by FMT Summary Nike expects a decline in sales for the fiscal fourth quarter due to tariffs, sliding consumer confidence, and ongoing restructuring efforts. The company reported a 9% drop in sales for its fiscal third quarter compared to the previous year, with significant weakness in China. Despite these challenges, Nike exceeded earnings expectations, with earnings per share at 54 cents versus 29 cents expected. Nike has warned that its sales will face a double-digit decline in the fiscal fourth quarter, as external factors such as new tariffs and sliding consumer confidence weigh heavily on its business. The company’s projections indicate that sales will fall to the low end of the mid-teens range, far worse than the initial expectations set by analysts.

Photo by FMT Summary Premier Li Qiang has urged China’s foreign trade enterprises to prepare for external challenges, particularly mounting tariffs from the United States. Li emphasized the importance of market diversification, innovation in trade channels, and product competitiveness as key strategies for overcoming economic difficulties. The government is committed to supporting the private sector with stronger policies to improve the business environment and maintain growth in exports. In a meeting held during his inspection tour of Fujian province, Premier Li Qiang urged China’s foreign trade enterprises to strengthen their ability to face the challenges ahead, particularly the impact of increased tariffs on Chinese imports by the United States. Li’s comments come as China’s export growth—a major pillar of its economic development—faces mounting pressure. With the return of President Donald Trump to the White House, the likelihood of further tariffs and other trade restrictions on China remains high, leading to significant uncertainty in the global trade market.

Photo by FMT Summary China’s government has pledged to use additional fiscal and monetary tools to handle both internal and external economic risks amid ongoing trade tensions with the United States. The government aims for a growth target of 5% in 2025, with a focus on increasing domestic consumption and supporting technological innovation. China plans to allocate nearly 1 trillion yuan (US$137.9 billion) in a guidance fund to promote industrial upgrades and enhance its tech sector. As China faces mounting economic challenges, including intensifying trade tensions with the United States, top government officials have vowed to use all available fiscal and monetary tools to safeguard the country’s economic stability. In a press briefing during the annual “two sessions” policymaking meetings, Finance Minister Lan Foanemphasized that China has set aside a range of reserve tools to cope with both internal and external uncertainties. These tools will be deployed as needed, ensuring the country is prepared for potential economic shocks.

Photo by FMT Summary DeepSeek, a Chinese AI startup, has disrupted the AI market with its low-cost models that outperform global competitors like OpenAI and Meta. Chinese AI startups, including Moonshot AI and MiniMax, are responding by releasing open-source models and seeking fresh funding to remain competitive. DeepSeek’s models have raised questions about the economic viability of traditional AI firms due to their affordability and efficiency. In a remarkable shift in the AI landscape, DeepSeek, a Chinese AI startup based in Hangzhou, has made waves by releasing highly efficient, low-cost models that have outperformed industry leaders such as OpenAI and Meta. Initially, DeepSeek’s V2 model triggered a price war in China’s AI sector, but its V3 model and the R1 model, released in 2025, have raised existential questions for many players in the AI market. Despite its low-cost approach, DeepSeek’s models are seen as technically superior, positioning the startup as a formidable competitor in global AI development.

Photo by Public Domain Summary China aims for a 5% GDP growth target in 2025, focusing on emerging industries to drive economic momentum. The government is addressing challenges in foreign trade, with an emphasis on cross-border e-commerce and stabilizing exports. China plans to avoid a trade war, but it remains committed to defending its economic policies amidst external pressures. At the annual “Two Sessions” economic briefing, Zheng Shanjie, Chairman of the National Development and Reform Commission (NDRC), expressed confidence in China’s 5% GDP growth target for 2025. The government believes that the country has the necessary foundation to achieve this goal despite external economic pressures. Notably, emerging industries now contribute around 18% of the country’s GDP, a figure that continues to rise as new sectors, including technology and green energy, gain traction.