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Explosive demand for the foundational unit of AI processing has forced tech giants and startups into a battle over pricing, computing power and the lucrative business market.

Cover Story: The AI Token Takeover in China

Explosive demand for the foundational unit of AI processing has forced tech giants and startups into a battle over pricing, computing power and the lucrative business market

On Saturday, Alibaba’s Qianwen and ByteDance’s Doubao notified users that they will discontinue services allowing them to build and chat with customizable AI characters. Photo: VCG

Alibaba, ByteDance Pull Persona Chatbots as China Tightens AI Rules

The companies will shut down customizable AI character features on their Qianwen and Doubao apps on July 15, the same day Beijing’s new rules take effect tightening oversight of human-like, interactive services

China Sets Safety Requirements for Assisted Driving

The standard, expected to take effect next year, lays out rules for three types of systems and requires stringent testing before mass production

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Jul 03, 2026 05:19 PM
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Yang Youlin accepted more than 2.21 billion yuan in bribes from 1993 to 2023, according to the court. Photo: CCTV

Former Nanjing Official Sentenced to Death in One of China’s Biggest Bribery Cases

Yang Youlin was found to have accepted 2.214 billion yuan in bribes over three decades, ranking him among the most corrupt officials in modern Chinese history

Jul 07, 2026 12:46 AM
A file photo shows a view of Nanning, Guangxi. Photo: VCG

Nanning Inflated Fiscal Revenue by $417 Million Through Land-Fee Scheme

The Central Commission for Discipline Inspection exposed how Nanning manipulated land transactions with state-owned enterprises to mask the financial toll of the property-market slump

Jul 07, 2026 12:27 AM
Tencent officially released its Hunyuan Hy3 foundation model on July 6. Photo: Tencent

Tencent Launches Final Hunyuan 3 Model With Free AI-Agent Feature

The Chinese tech giant integrated the updated AI model into its Yuanbao assistant, enabling users to generate complex documents using natural-language prompts

Jul 06, 2026 11:43 PM
The Silka Seaview Hotel in Kowloon. Photo: VCG

JD.com Enters Hong Kong Student-Housing Market With $96 Million Hotel Deal

The e-commerce firm secures guaranteed rental income through a leaseback agreement as mainland investors chase higher returns in a supply-starved market

Jul 06, 2026 11:07 PM
Photo: VCG

Chery Deepens Localization in South Africa With Factory Overhaul

The Rosslyn plant, which the Chinese carmaker acquired from Nissan under a deal announced in January, will undergo lengthy retooling ahead of a production restart in mid-2027

Jul 06, 2026 07:17 PM

Business Brief (July 6): China Moves to Rein In E-Cigarette Overcapacity

Internet watchdog intensifies crackdown on livestreaming violations, Guangzhou Futures Exchange opens lithium carbonate futures to foreign traders

Jul 06, 2026 06:18 PM
Z-Bank. Photo: IC Photo

China Seizes Private Lender Z-Bank to Contain Risks

State-backed Hankou Bank will absorb the Wuhan-based lender whose private corporate founders are mired in debt

Jul 06, 2026 04:19 PM
Proposed revisions to procurement and tender and bidding laws can curb local favoritism, bid-rigging and opaque public spending.

Opinion: China’s Procurement Overhaul Tests Its Market Ambitions

Legal revisions can curb local favoritism, bid-rigging and opaque public spending

Jul 06, 2026 02:37 PM
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CX Daily: How a South China Port Is Redrawing the Regional Logistics Map

Container throughput has boomed at Guangxi’s Beibu Gulf Port, but problems have emerged

Jul 06, 2026 09:00 AM
The Guangzhou Futures Exchange opened its lithium carbonate futures and options to overseas traders on July 3. Photo: VCG

China Opens Lithium Futures Market to Foreign Traders

The Guangzhou Futures Exchange’s move to allow overseas participation in the critical battery metal could enhance China’s influence over global supply-chain pricing while increasing market liquidity

Jul 05, 2026 03:10 AM
A battery production workshop at a factory in Wuhan. Photo: IC

China Targets 8 Trillion Yuan Recycling Industry by 2030

Beijing’s new circular-economy plan seeks to secure critical materials, cut emissions and manage waste from fast-growing clean-energy sectors

Jul 04, 2026 04:38 AM
New-energy vehicles charge at charging piles in Huai'an, Jiangsu province, on June 24, 2026. Photo: VCG

China Rolls Back Green Auto Tax Breaks as NEV Sales Surge

The policy shift, effective in 2027, aims to replenish municipal coffers and reform a tax system strained by the country’s rapid transition away from gasoline cars

Jul 04, 2026 02:15 AM
Guotai Haitong Securities in Shanghai, April 19. Photo: VCG

Guotai Haitong Becomes First Chinese Brokerage to Trade Offshore Yuan in Shanghai FTZ

The brokerage will begin offering offshore yuan spot and derivatives trading through a specialized firewall account on July 6, broadening the market beyond traditional commercial banks

Jul 04, 2026 01:47 AM

The Week Ahead (July 6-11): Major Stock Exchanges to Implement New Trading Rules

Momenta to debut on the Hong Kong Stock Exchange; the 25th China Internet Conference opens in Beijing

Jul 03, 2026 11:32 PM
Alibaba will require employees to stop using Claude Code and has added it to a high-risk software list, an insider confirmed to Caixin on July 3, citing backdoor risks. Photo: VCG

Alibaba Bans Staff From Using Anthropic AI Tools Over Security Concerns

Move follows claims that Anthropic embedded hidden code in Claude Code to track certain users, escalating tensions between the U.S. AI startup and the Chinese tech giant

Jul 03, 2026 11:16 PM
Suning said June 30 that HK Express World International Ltd. bought a 100% stake in Cacious China Holdings N.V. Photo: VCG

Suning’s Carrefour China Bet Ends in $275,000 Fire Sale

The Shenzhen-listed retailer is shedding noncore assets to cut debt after years of liquidity stress and legal disputes tied to the hypermarket business

Jul 03, 2026 10:50 PM



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