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Forbes
2 minutes ago
- Automotive
- Forbes
China Market Update: State Council Focuses Anti-Involution Campaign On EV Industry
CLN Asian equities retreated following yesterday's strong gains as Vietnam outperformed and the Philippines lagged behind. The most significant development came after the market closed, as Premier Li chaired a State Council meeting focused on regulating competition in the New Energy Vehicle (NEV) industry. The meeting emphasized the need to address 'irrational competition' and called for effective government regulation to restore order in the sector. Additionally, the meeting highlighted the importance of 'strengthening the domestic big cycle," a reference to boosting domestic consumption and optimizing policies for trading in old consumer goods for new ones. Solar stocks continued to benefit from the government's 'anti-involution' campaign, which aims to curb destructive price wars and promote sustainable industry growth. The renewed focus on electric vehicles (EVs) is notable, especially as 'overcapacity' remains a key issue in ongoing US-China trade negotiations. This policy emphasis may play a role in future trade discussions between the two countries. Separately, the China Chain Store & Franchise Association (CCFA) issued a statement warning that the intensifying 'real-time retail price subsidy war' among platforms is disrupting fair competition. The association urged its members to resist 'involution-style' price competition, which has led to a race to the bottom in sectors like restaurants and instant retail. This move reflects the broader anti-involution mandate filtering through the economy and may signal a turning point in China's domestic deflationary pressures. Nvidia CEO Jensen Huang's recent speech has attracted significant attention. Mainland media have speculated about a potential partnership between Nvidia and Xiaomi following Huang's comments about purchasing a Xiaomi car. It is striking how little analysis has been done of the contrasting results of Xiaomi and Apple, two of the world's largest smartphone makers, in the vehicle industry. Xiaomi has succeeded, while Apple barely got off the ground. Hong Kong markets saw profit-taking, with high but lighter volumes compared to the previous day. Notable moves included Alibaba (+0.26%), Tencent (-0.19%), Meituan (-1.66%), Pop Mart (-4.03%) despite a positive preliminary profit release, and Guotai Junan (+4.93%). Media and entertainment stocks continued to perform well, including Kuaishou (+2.13%), Tencent Music Entertainment (+2.37%), and Bilibili (+1.73%), all of which hit 52-week highs. In contrast, Hong Kong and Mainland China real estate stocks underperformed after the China Urban Work Conference ended without new policy initiatives, and June sales data remained weak. Mainland investors purchased $204 million of Hong Kong-listed stocks and ETFs today via Southbound Stock Connect, bringing the year-to-date total to over $100 billion. Tencent continued to see net selling through Southbound flows, suggesting investors are using it as a funding source. The Mainland market was relatively quiet as attention shifted toward upcoming earnings releases. A Mainland media source highlighted a statement from Unitree's CEO, who noted: 'The global vision for humanoid robotics technology and product development remains largely aligned, while countries may differ in cultural and industrial backgrounds.' He emphasized that China excels in hardware and manufacturing, while the United States leads in AI software ecosystems. Finally, Nvidia's market capitalization has surpassed the GDPs of India, the United Kingdom, France, Italy, Canada, and South Korea. As of July 2025, Nvidia's valuation reached $4 trillion, making it larger than the economies of nearly every country except the United States, China, Germany, and Japan. Live Webinar Join us on Tuesday, July 22, 10:00 am EDT for: China Mid-Year Outlook: Trade Deal Loading, Consumption & Innovation Locked In Please click here to register New Content Read our latest article: KraneShares KOID ETF: Humanoid Robot Rings Nasdaq Opening Bell Please click here to read Chart2 Chart1 Chart3 Chart4 Chart5 Chart6
The Sun
2 hours ago
- Business
- The Sun
Huawei tops China smartphone market after 4 years amid US curbs
BEIJING: Huawei has surged back to the top of China's smartphone market for the first time in over four years, surpassing Apple and local rivals like Xiaomi, according to data from the International Data Corporation. The Shenzhen-based company secured 18.1% of the market in Q2 2025, shipping 12.5 million units despite ongoing US export controls and economic headwinds. China's overall smartphone shipments declined by 4% year-on-year to 69 million units, ending six consecutive quarters of growth. Arthur Guo, a senior IDC analyst, noted, 'Despite the recent US-China trade truce, the broader economic environment presents ongoing challenges, with consumer confidence remaining subdued.' Huawei's resurgence follows years of US sanctions that restricted its access to critical technologies, pushing the firm to develop in-house solutions. Meanwhile, Apple dropped to fifth place with a 13.9% market share, reflecting weakening iPhone demand in China. The tech giant's rebound highlights its resilience amid geopolitical tensions, though analysts caution that smartphone demand may remain sluggish in the near term. – AFP
Mint
3 hours ago
- Automotive
- Mint
Nvidia CEO lavishes praise on China in Beijing, drawing rock-star reception
BEIJING : The head of America's most valuable company delivered a love letter to China while visiting Beijing, extolling the country's technological advances and praising its 'best-in-the-world" electric vehicles. Jensen Huang, chief executive of artificial-intelligence chip designer Nvidia, spoke a day after the Trump administration allowed the company to resume selling one of its advanced AI chips to Chinese customers. The decision, part of a trade truce in which China agreed to speed up exports of rare-earth minerals, opens the door for Nvidia to step up its business in China again despite criticism from some in Congress that giving expanded access to advanced U.S. technology could benefit Beijing's military and pose a national-security risk for America. Huang rejected such views at a news conference, which he interrupted from time to time so he could autograph Chinese reporters' clothing. 'There's always room in any house for two people, don't you think?" he said. The CEO said he was hoping to get approval to keep updating Nvidia's offerings for the Chinese market. He expressed confidence that his meetings with top officials in Beijing, including the vice premier, wouldn't bother President Trump. When he visited Trump last week, Huang said, the president 'was delighted to help celebrate a monumental day for Nvidia"—it became the first company to top $4 trillion in market capitalization—and 'was telling everybody about that." The CEO said he advised Trump that he was heading to Beijing and the president responded, 'Have a great trip." Huang has become a frequent visitor to both Washington and Beijing. Unlike most politicians and officials in Washington, Huang heaped praise on China while avoiding issues such as its military expansion. 'When you see me in the United States, you must think you went back in time. You wouldn't even understand my life—it's too strange," Huang said to a Chinese reporter's question, citing ubiquitous smartphone payments in China in comparison with Americans' continued use of cash. 'You are so advanced in technology adoption." Earlier in the day, Huang, who was born in Taiwan but is a U.S. citizen, swapped his signature leather jacket for traditional Chinese-style attire and delivered a speech at the opening ceremony of a government-backed business fair, partly in Chinese. 'China's supply chain is a miracle," Huang said. 'The heroes of China's superfast innovations are your researchers, developers and entrepreneurs." At the news conference, he took issue with U.S. policy under both the Biden and Trump administrations that has effectively barred imports of most Chinese EVs through high tariffs. He said he met the chief executive of Chinese EV and smartphone maker Xiaomi, whose EVs just hit the market last year and have already built up monthslong waiting lists. Xiaomi is a 'miracle of a company," he said. 'The technology inside is the best in the world." Asked by a Chinese reporter if he would buy one, Huang said, 'I would love to. It's unfortunately not available in the United States, but that's our misfortune, not yours." Write to Peter Landers at
CNBC
3 hours ago
- Automotive
- CNBC
As Nvidia gets a lifeline in China, Jensen Huang goes on the charm offensive in Beijing
BEIJING — Nvidia CEO Jensen Huang was all smiles and compliments as he made his third trip to China in just about half a year. As the leader and co-founder of the world's first, newly-minted $4 trillion market cap company, Huang had particular reasons to be happy when he met the press on Wednesday: Nvidia expected it would be able to resume sales of its less advanced H20 artificial intelligence chips to China after a three-month pause. "Many of my competitors are my friends," he noted. Huang said his understanding was that allowing Nvidia chips into China was part of an exchange with the U.S. for Beijing to release critically needed rare earths. CNBC has reached out to the White House for comment. Wearing his iconic black leather jacket, Huang walked into the sunny courtyard of the Mandarin Oriental hotel about 15 minutes earlier than scheduled and took multiple questions in the nearly 90-degree Fahrenheit weather. "Only in China can we do this out in the sun!" he said. Then he realized the press conference was supposed to be held inside an air-conditioned room. "What are we doing out here? Why didn't somebody say so?" he said. He was swarmed by local reporters asking for signatures of books and T-shirts. "Who needs an autograph? I'll do it while I'm listening." Here are the highlights of what he said over 90 minutes: Huang said he had a "wonderful meeting" with Chinese Vice Premier He Lifeng, and clarified that the discussions did not include China's restrictions on battery technology or rare earths. Earlier in the week, he met with Xiaomi founder and CEO Lei Jun, whom he labelled as "a brilliant business person." He said the two discussed artificial intelligence for large language models, autonomous driving and robotics. Xiaomi uses Nvidia's automotive chips in its electric cars. Huang said he told U.S. President Donald Trump about his planned voyage to China during a meeting with the White House leader last week to celebrate Nvidia's $4 trillion market cap. "[Trump] said, 'Have a great trip,'" Huang said. Nvidia on Tuesday said it expected to resume its H20 chip shipments to China soon following assurances from the U.S. government. The company was forced to halt such sales in April due to new U.S. requirements at the time. "In terms of the H20 ban and the lifting of the ban, it was completely in control of the U.S. government and China government. The discussion has nothing to do with me," Huang said, rejecting the idea that he had played a part in changing Trump's mind. "It's my job to inform the president about what I know very well, which is the technology industry, artificial Intelligence, the developments of AI around the world," he said. Huang emphasized Nvidia complies with the final policy decision and that tariffs are just something the company has to "adapt to." U.S. chip restrictions nearly halved Nvidia's market share in China, Huang said in May. Due to the U.S. export controls on China, the company said it missed out on $2.5 billion in sales during the April quarter and will likely take another $8 billion hit in the July quarter, pegging its sales at $45 billion over the period. The U.S. effectively banned Nvidia from selling its most advanced chips to China back in 2022. "I hope to get more advanced chips into China than the H20," Huang said in response to a CNBC question, "and the reason for that is because technology is always moving on. It's not like wood." He stressed that, years from now, there will be better and better technology available, adding, "I think it's sensible that whatever we're allowed to sell in China will continue to get better and better over time as well." But Huang would not give a definitive answer about how many orders Nvidia had received, or when the company would restart local sales of its chips — which he acknowledged were not the company's best, but which could still train AI models. He said the U.S. government was still processing the licenses for Nvidia to sell the chips to China, and that the company would need to restart its supply chain — a process he indicated could possibly take nine months. Huang also discussed the outlook for competing Chinese tech giant Huawei, which has been impacted by U.S. sanctions that precede the export controls on Nvidia. "Anyone who discounts Huawei and anyone who discounts China's manufacturing capability is deeply naïve," Huang said, pointing also to how Huawei has "excellent chip design" and their own connected cloud system. "They can go to market all by themselves." Underpinning Huawei's AI model capabilities is an entire tech system that doesn't rely on any of Nvidia's chips or tools. Instead, Huawei has developed its own Ascend chips, which works with the company's "CANN" system that acts as an alternative to Nvidia's CUDA. It has also built an AI-specific cloud computing system called CloudMatrix that launched last year. Asked about indications that Huawei's AI chip systems are still challenging for many developers to switch over to, Huang said, "That's just a matter of time." He said "the important thing to realize I've been doing this for 30 years, they've been doing it for a few, and so the fact they're already on the dance floor tells you something about how formidable they are." Huang rained down praise on Chinese AI models, as he had during a speech Wednesday morning at the opening ceremony of the high-profile supply chain expo in Beijing. "The Chinese models, DeepSeek, Qwen, Kimi, are excellent," he said, referring to the breakthrough from a Chinese startup, Alibaba's model and another one from an Alibaba-backed startup Moonshot. "I think over time it will be increasingly less important which one of the models are the smartest," he said. "It's going to be which one of the models are the most useful." China-developed DeepSeek shocked global investors in January with the release of an AI model that undercut OpenAI on development and operating costs. It's not clear how DeepSeek managed to develop the model under broad U.S. chip restrictions on China, but the startup's parent, High-Flyer, reportedly stockpiled Nvidia chips. One aspect that Huang said he particularly appreciated about Chinese AI models was that they are open source, making them available for people to download for free and use on their own computers. He said many companies in many countries downloaded DeepSeek R1 — "99%" of people — to use it locally for healthcare, robotics, imaging and other applications. As Huang was about to end the press conference, a reporter asked whether he would come back to China again this year. "I hope so. You have to invite me."
South China Morning Post
6 hours ago
- Business
- South China Morning Post
Huawei returns to the top of China's mobile phone charts for first time in 4 years: IDC
Huawei Technologies topped mainland China's smartphone market in the second quarter – the first time in four years – 'underscoring its strong brand appeal and effective shipment management', according to International Data Corporation (IDC). However, China's smartphone sales shrank 4 per cent to 69 million units in the April to June quarter due to weak consumption and reduced government subsidies for electronic devices, data from the consultancy released on Tuesday showed. It was the first quarterly contraction after six consecutive periods of growth, according to IDC. Shenzhen-based Huawei, which divested the Honor smartphone brand in 2020, accounted for 18.1 per cent of the mainland's market, although its shipments dropped 3.4 per cent from a year ago to 12.5 million units. Vivo and Oppo came in second and third, respectively, while fourth-ranked Xiaomi was the only one in the top five to record a growth in shipments. Xiaomi, with a focus on the 'value-conscious customer base', posted a 3.4 per cent increase in shipments to 10.4 million units, IDC said. Huawei was the top smartphone seller in China in the second quarter. Photo: EPA-EFE Fifth-placed Apple saw a quarterly shipment decline of 1.3 per cent – the least among the top five, as it 'leveraged strategic price adjustments that made specific iPhone 16 and 16 Pro variants eligible for government subsidies', said Will Wong, senior research manager for client devices at IDC in Asia-Pacific.
