Weekly Investment Overview
Largest Biotech Financing
World's Fastest 3D AI Chip
Unmanned Delivery Growth
This week's investment landscape in China shows diversification and high-tech focus, particularly in AI, biotech, new energy, and advanced manufacturing. AI has emerged as a core driver, deeply empowering multiple industries with real commercial applications rather than remaining a conceptual technology. Internet giants' investments in AI have reached ¥83.14B in Q3, accounting for 17% of their revenues, while ByteDance is expected to invest $20B in AI capital expenditures.
Investment Highlights
The investment market this week reflects AI technology's penetration into vertical domains. In the AI chip sector, Hangzhou Micronano Core Electronics completed over ¥100M in Series B strategic financing, with its 3D-CIM technology aiming to create the world's fastest mass-producible 3D edge AI chips, breaking through the challenges of "high performance + low power consumption + low cost." This reflects the market's urgent demand for AI computing power and domestic replacement.
The biotech and healthcare sector continues to receive substantial investment, focusing on breakthrough frontier technologies. Maikekang Biotech completed a D round financing exceeding ¥400M to accelerate clinical research of recombinant herpes zoster vaccine and respiratory syncytial virus vaccine. Kangdesai Medical received tens of millions yuan in Series A investment to delve into "mRNA + cell therapy" applications in tumors and severe fibrosis. These investments highlight China's commitment to advanced medical technologies like innovative drug development, cell therapy, and bio-artificial organs.
Strategic investment in new energy and advanced manufacturing sectors demonstrates accelerated domestic substitution processes. Rongke Energy's IPO process is accelerating, potentially becoming the first all-vanadium flow battery listed company on the A-share market, with its 2024 delivery volume reaching 1,428MWh, accounting for nearly 60% of the national total. This showcases China's leading position in new energy infrastructure construction. These events indicate that China is actively promoting self-reliance in key areas and enhancing industrial chain resilience.
Key Deals
| Company | Sector | Amount | Deal Type |
|---|---|---|---|
| Maikekang Biotech | Biotech | ¥400M+ | D Round |
| Hangzhou Micronano Core Electronics | AI Chips | ¥100M+ | Series B |
| Vision Aero | eVTOL Aircraft | Nearly ¥100M | Seed & Angel |
| Tuqiang Aerospace | Satellite Technology | Tens of millions ¥ | Angel Round |
| Kangdesai Medical | Cell Therapy | Tens of millions ¥ | Series A |
China Market & Policy Weekly Update
Industrial Enterprise Profits
September Profit Growth
Minimum Wage Standard
Green Factory Production
This week, China's market and policy dynamics present multidimensional development trends, particularly in macroeconomic policies, industrial transformation upgrades, and consumption stimulation. The "15th Five-Year Plan" provides a clear blueprint for China's economic and social development over the next five years, emphasizing high-quality development, technological self-reliance, deepened reforms, and increased consumption rates. Unlike the previous plan, the new one doesn't set a specific economic growth target, instead emphasizing that economic growth should remain within a reasonable range.
Policy Analysis
The new policy framework demonstrates China's shift toward quality-focused development rather than speed-focused growth. The "15th Five-Year Plan" transitions from setting specific GDP targets to emphasizing economic growth within a reasonable range, with greater focus on resident consumption rates and domestic demand as the main driver of economic growth. This represents a strategic adjustment in response to both internal development needs and external uncertainties.
In the green development arena, policies show accelerated implementation of carbon reduction goals. The Ministry of Ecology and Environment's announcement that the carbon emissions trading market will expand to major industrial emission sectors by 2027 aligns with the carbon peaking target by 2030. Similarly, the Ministry of Commerce's "Implementation Opinions on Expanding Green Trade" serves as the first specialized policy document in the green trade field, aiming to promote trade optimization and upgrading while helping achieve "dual carbon" goals.
The consumption stimulation policies, particularly the duty-free store optimization, represent targeted efforts to recapture overseas consumption and attract foreign visitors. By requiring duty-free shops to allocate at least 25% of space to domestic products and expanding duty-free categories to include electronics and other high-value items, China aims to enhance both domestic consumption and inbound tourism spending, addressing the dual goals of consumption growth and opening-up.
Tech Market Overview
This week, China's technology market demonstrates vigorous momentum, particularly in artificial intelligence, new energy vehicles, aerospace technology, and consumer electronics. In the AI domain, China's indigenous innovation continues to gain strength, with breakthroughs in image generation efficiency, multimodal world models, and commercially competitive large language models that balance performance with cost-effectiveness.
Largest Wind Turbine
M2 Model Speed
BYD Sea Lion 06 Production
Tech Frontiers
China's technology landscape this week highlights significant breakthroughs across multiple domains. In the renewable energy sector, Dongfang Electric's 26 MW offshore wind turbine represents a world-leading achievement, demonstrating China's growing dominance in green technology. With an annual generation capacity of 100 million kWh, this innovation positions China at the forefront of large-scale clean energy solutions and supports its ambitious carbon reduction goals.
In the AI domain, China is making remarkable strides in developing cost-effective, high-performance AI models. MiniMax's M2 model showcases China's ability to compete with global leaders like Claude and GPT, offering twice the inference speed at a fraction of the cost. Similarly, Beijing Academy of Artificial Intelligence's Wujie·Emu3.5 demonstrates growing capabilities in multimodal AI. These developments indicate China's strategic focus on building indigenous AI capabilities that balance performance with commercial viability.
The aerospace achievements, highlighted by the successful launch of Shenzhou-21 and the announcement of ambitious 2026 mission plans, reflect China's long-term commitment to space exploration and technological self-reliance. Meanwhile, in the manufacturing sector, innovations like Tongwei Group's "Lighthouse Factory" showcase the integration of AI and automation into traditional industries, substantially improving productivity and efficiency. This convergence of digital technologies with industrial processes represents a key aspect of China's industrial upgrading strategy.
Trending Tech Keywords
Selected News
World's First "Lighthouse Factory" in Photovoltaic Cell Manufacturing
Tongwei Group (Sichuan Meishan Factory) was recognized as the world's first "Lighthouse Factory" in photovoltaic cell manufacturing, producing one cell every 0.7 seconds, increasing daily output from 4.41 million to 4.95 million cells, and reducing equipment failure rates by 50% using AI large models.
World's Largest 26 MW Offshore Wind Turbine Connected to Grid
Dongfang Electric's independently developed 26 MW offshore wind turbine successfully connected to the grid in Shandong Dongying, setting new global records for wind turbine unit capacity and rotor diameter, with annual generation capacity of 100 million kWh.
MiniMax M2 Model Ranks First Among Open-Source Models
MiniMax's M2 model ranked first in open-source model evaluation with a score of 61, featuring inference speed twice that of Claude 3.5 Sonnet, API price only 8% of competitors, and 230B parameters.
China Optimizes Duty-Free Shop Policies
Five departments including the Ministry of Finance issued a notice that, effective November 1, port departure and in-city duty-free shops must allocate at least 25% of operating area to domestic products, while expanding duty-free product categories to include smartphones, drones, and sports equipment to guide overseas consumption back and attract foreign visitors.
Industrial Enterprise Profits Up 3.2% in First Three Quarters
The National Bureau of Statistics reported that profits of industrial enterprises above designated size increased by 3.2% year-on-year in the first three quarters of 2025, with September's profits surging 21.6% year-on-year, reaching the highest growth rate since 2024, primarily driven by low base effects, better-than-expected production, and price recovery.
Ministry of Commerce Issues First Green Trade Policy Document
The Ministry of Commerce issued the "Implementation Opinions on Expanding Green Trade" as the first specialized policy document in the green trade field, aiming to promote trade optimization and upgrading while helping achieve "dual carbon" goals, emphasizing that financial institutions will support green service trade development through green credit, bonds, and equity funds.
Carbon Emissions Trading Market to Expand to Major Industrial Sectors
The Ministry of Ecology and Environment announced that China's carbon emissions trading market will expand to major emission industries in the industrial sector by 2027, following the "Opinions on Promoting Green and Low-carbon Transformation and Strengthening Carbon Market Construction" issued in August, aiming to further promote emission reduction in high-emission industries such as steel, cement, and aluminum smelting.