Weekly Investment Overview
Largest Fusion Funding
JD.com European Acquisition
Intelligent Chassis Investment
Blue Arrow Aerospace Valuation
AI Robotics Funding
The Chinese investment market this week (2025/07/28-2025/08/03) demonstrates strong momentum in technology innovation, particularly in AI, fusion energy, and autonomous driving. Nova Fusion Energy Technology completed a 500 million yuan angel round, setting a record for private fusion companies in China, with funds allocated to build China's first commercial fusion power station. Companies including Zero Order Robotics and RoboScience secured funding in the hundreds of millions, pushing forward embodied intelligence and general AI technologies, with JD.com leading RoboScience's investment, highlighting major tech companies' focus on AI frontiers.
Key Deals
| Company | Sector | Amount | Deal Type |
|---|---|---|---|
| Nova Fusion Energy (Shanghai) | Clean Energy | ¥500M | Angel Round |
| JD.com | E-commerce | €2.2B | Acquisition |
| CATL's Time Intelligence | EV Technology | Undisclosed | External Funding |
| RoboScience | AI Robotics | ¥200M | Angel Round |
| Shanghai Fangqing Technology | AI Chips | ¥100M+ | Angel Round |
| Teann Lithium (Shanghai) | New Energy Materials | ¥100M | Series A |
Investment Highlights
The new energy vehicle industry chain continues to attract capital, showing trends toward technology integration and platformization. CATL's Time Intelligence completed its first external financing round with a post-investment valuation exceeding 10 billion yuan. Its "Bedrock" integrated intelligent chassis technology promises to reduce vehicle development cycles by 60%-70%, significantly decreasing overall development costs while demonstrating excellent safety performance in high-speed collision tests without battery fires or explosions. These "first" and "largest" breakthroughs are poised to reshape the automotive industry landscape.
Teann Lithium (Shanghai) New Energy Co., Ltd. completed a Series A funding round of nearly 100 million yuan for production expansion. Its pre-coated nickel steel strip technology fills a domestic gap and breaks overseas monopolies, carrying strategic significance for China's new energy battery industry chain. These investments demonstrate confidence not only in vehicle manufacturing but also in upstream core technologies and materials throughout the new energy vehicle industry chain.
Chinese companies are accelerating cross-border acquisitions and deepening international strategy. JD.com announced plans to acquire CECONOMY, Germany's largest consumer electronics group, with a transaction value of approximately 2.2 billion euros (over 18 billion yuan). If completed successfully, this will set a new record for Chinese e-commerce companies expanding into Europe, becoming the "largest" acquisition by a Chinese e-commerce company in the European market. This milestone demonstrates the increasing capability of Chinese enterprises to integrate resources in global markets.
China Market & Policy Weekly Update
H1 2025 Fiscal Expenditure
Remaining Deficit Quota
Remaining Special Bond Quota
China's economic policies this week focused on "stabilizing growth" and "promoting consumption." In the first half of 2025, China's broad fiscal revenue and expenditure showed a 5.3 trillion yuan gap, with fiscal expenditure reaching a historic high of 18.8 trillion yuan, up 8.9% year-on-year, far exceeding the economic growth rate of 5.3%. Despite a slight decline in fiscal revenue, the Ministry of Finance stated that fiscal expenditure would maintain growth to address economic pressures, with ample fiscal space expected in the second half of the year.
Policy Analysis
The State Council's regular meeting has deployed interest subsidy policies for personal consumption loans and service industry business loans, aiming to lower financing costs for residents and service businesses. This comes amid July's Manufacturing Purchasing Managers' Index (PMI) falling to 49.3%, marking the fourth consecutive month below the expansion/contraction threshold, indicating significant economic downward pressure due to factors including high temperatures, flood disasters, and contracting demand. The manufacturing new orders index declined to 49.4%, though production activities maintained some expansion with a production index of 50.5%. The non-manufacturing business activity index stood at 50.1%, with the service sector remaining in expansion territory. The Central Political Bureau meeting emphasized the need to release domestic demand potential and implement special actions to boost consumption.
In the technology sector, the "AI+" action plans have gained significant momentum. The State Council's regular meeting has approved the "Opinions on Deepening the Implementation of 'AI+' Actions," marking an important national-level industrial development initiative following the "Internet+" action of 2015. Central enterprises have already applied AI in more than 500 scenarios as part of special "AI+" initiatives. This coordinated approach across multiple governmental departments signals China's determination to integrate AI capabilities across industries and maintain technological competitiveness.
The healthcare sector continues to see policy support for innovation and accessibility. The National Healthcare Security Administration has introduced new measures supporting cutting-edge technologies like brain-computer interfaces entering clinical use with approved pricing, added over 100 price items related to new medical technologies, and established first-launch pricing mechanisms for newly marketed drugs to encourage pharmaceutical innovation. These policies aim to balance innovation incentives with healthcare affordability.
Tech Market Overview
This week, China's technology market showed robust activity across artificial intelligence, robotics, and smart automotive technologies. The upcoming 2025 World Robot Conference highlights China's dominant position in robotics, with patent applications now representing two-thirds of global filings. Industrial robots have been deployed across 71 major industry categories, with manufacturing robot density ranking third globally, further solidifying China's position as the world's largest industrial robot market.
Robot Market Growth
Wenjie M8 Deliveries
Autonomous Driving Test
Tech Frontiers
China's AI sector continues to make significant strides in model development and practical applications. Alibaba Cloud's Qwen-MT translation model now supports over 92 mainstream languages with high-quality translation capabilities, keeping average Chinese-English round-trip translation times between 0.71-1.05 seconds. 360's Nano AI has evolved into a "multi-agent swarm" system, becoming the first to reach L4-level intelligent agent capabilities, with over 10 types of multi-agent swarms already deployed across video production, content creation, and e-commerce live streaming industries.
The robotics market in China has shown remarkable growth, with industrial robot sales increasing from 70,000 units in 2015 to 302,000 units in 2024, maintaining China's position as the world's largest market for 12 consecutive years. China has also become the world's largest robot producer, with industrial robot output growing from 33,000 units in 2015 to 556,000 units in 2024. This growth is supported by continuous technological innovation and expanding application scenarios, with robots increasingly deployed in manufacturing, logistics, healthcare, and consumer sectors.
Trending Tech Keywords
Selected News
Shanghai Court Sentences Zunpai Founder to 6 Years for Huawei Trade Secret Theft
Shanghai Pudong New Area People's Court issued a first-instance judgment against Zunpai Communications Technology (Nanjing) Co., Ltd. for trade secret infringement. Founder Zhang Kun was sentenced to 6 years in prison and fined 3 million yuan for illegally obtaining Huawei's Wi-Fi 6 chip technology. Thirteen former Huawei HiSilicon employees received prison terms ranging from 2 to 4 years with additional fines. Zunpai's 99.65 million yuan in cash assets have been frozen and the stolen technology ordered destroyed.
Tencent Releases First Open-Source 3D World Model Compatible with Traditional CG Pipeline
Tencent officially released Mixuan 3D World Model 1.0 at the 2025 World Artificial Intelligence Conference, marking the first open-source, navigable world generation model compatible with traditional CG pipelines. The model allows users to generate immersive, interactive 3D scenes through text or image inputs.
WeRide Reports 836.7% Growth in Robotaxi Revenue, Setting New Quarterly Record
Global leading autonomous driving company WeRide released its Q2 2025 financial report with total revenue reaching 127 million yuan, a 60.8% year-over-year increase. Its Robotaxi business revenue reached 45.9 million yuan, growing 836.7% year-over-year and setting a new quarterly record since the company's founding.
Bilibili Launches AI Voice Translation Feature for Global Viewers
Bilibili announced the launch of its self-developed "AI Voice Translation Feature" designed to improve the viewing experience for overseas users. The technology not only translates text but also perfectly preserves content creators' voice characteristics, timbre, and breathing patterns for a more natural viewing experience.
Alibaba Cloud Launches Qwen-MT Translation Model Supporting 92+ Languages
Alibaba Cloud released the Qwen-MT translation model, emphasizing cost-effectiveness while supporting high-quality translation between more than 92 mainstream languages. Testing shows that Qwen-MT controls average processing time for Chinese-English round-trip translation between 0.71 and 1.05 seconds.
China's Equity Investment Market Shows Recovery in H1 2025
In the first half of 2025, China's equity investment market saw recovery in both fundraising and investment. New fund numbers and scale increased by 12.1% and 12.0% year-on-year respectively, while investment cases and disclosed amounts rose by 21.9% and 1.6%. Hard technology sectors including IT, semiconductors, electronic equipment, biotechnology, machinery manufacturing and clean technology attracted significant investment attention.
National Tax Administration Clarifies Tax Credit Policy for Foreign Investors
The State Taxation Administration issued an announcement clarifying that foreign investors can enjoy phased tax credit policies during reinvestment while still qualifying for deferred taxation policies, helping attract more foreign investors to the Chinese market.
China's Fiscal Expenditure Hits Record High of 18.8 Trillion Yuan in H1 2025
In the first half of 2025, China's broad fiscal expenditure reached a historic high of 18.8 trillion yuan, up 8.9% year-on-year, far exceeding the economic growth rate of 5.3%, demonstrating the government's increased fiscal support amid economic downward pressure. The Ministry of Finance expects ample fiscal space in the second half of the year, with remaining deficit and special bond quotas of 3.09 trillion and 2.24 trillion yuan respectively.
July Manufacturing PMI at 49.3%, State Council Deploys Consumption Stimulus
July's Manufacturing Purchasing Managers' Index (PMI) stood at 49.3%, down 0.4 percentage points from the previous month, marking the fourth consecutive month below the expansion/contraction threshold. The State Council has deployed interest subsidy policies for personal consumption loans and service industry business loans to stimulate consumption potential.
Multiple Government Departments Accelerate "AI+" Action Implementation
The National Development and Reform Commission and multiple other departments have accelerated the deployment of "AI+" initiatives. The State Council has approved the "Opinions on Deepening the Implementation of 'AI+' Actions," aimed at promoting large-scale commercial applications of artificial intelligence, requiring government departments and state-owned enterprises to strengthen demonstration and leadership roles.