Business & Markets

On June 25, the 17th Summer Davos Forum ended in Dalian, Liaoning. In three days, about 100 events, more than 1,700 guests from more than 90 countries and regions held lively discussions around the theme of "innovation at scale" and gathered cutting-edge forces. Among them, the reporter found that Chinese innovation has become a high-frequency word in the forum. This is the opening ceremony of the 17th Annual Meeting of the New Champions of the World Economic Forum (Summer Davos Forum), which was held on June 24 at the Dalian International Convention Center in Liaoning. Xinhua News Agency reporter Pan Yulong photographed - this is a ubiquitous and accessible Chinese innovation. In the venue, "How does China's innovation model go steadily and far?" China AI ‘Lobster Fever' "" China Platform, Going Global "and other sub-forums focusing on China's innovation model and large-scale development sparked ideas. Outside the venue, vehicles such as new energy vehicles, hydrogen energy buses, and unmanned intelligent driving buses were neatly arranged. The day before the opening of the forum, the World Economic Forum announced a new list of global lighthouse factories, and a number of Chinese cases were selected... The collision of audible views and visible innovative breakthroughs brought representatives of multinational companies to the meeting. Kang Ruide, president and CEO of Clariant, said that China has successfully transformed from a" world factory "into an" innovation magnetic field ", leading the world in many fields such as new energy vehicles, renewable energy, artificial intelligence, etc., affecting the global innovation development trend....

Merdeka Gold Resources listed on the Hong Kong Exchange with a $310 million IPO despite losing money and facing declining gold prices. Shares opened flat but closed 6.5% lower, reflecting investor caution.

Taiwan's opposition-controlled parliament stalled on Friday the government's proposed $6.6 billion in spending on domestically made drones that could be used to defend the island against a potential Chinese attack. China claims Taiwan is part of its territory and has threatened to seize it by force if necessary. The opposition stripped out around $15 billion that the government had wanted to use for domestic drone procurement and other efforts to boost defences.

Wen | Wang Xinyi Editor | Zhou Xinyu Six months ago, when we first communicated with Dai Zonghong, founder and CEO of Ground Origin, this AI company that flowed into the B-side of the Bureau had just promoted 7 or 8 projects. The voices he received the most from the outside world were questioning: "The story is not sexy enough", "customization is tiring". Half a year later, the basis point's response to the queries was tens of millions of yuan in on-hand orders. Dai Zonghong told "Smart Emergence" that the number of orders originating from the basis point has doubled, the contract amount of orders has increased by an order of magnitude compared with half a year ago, and AI solutions have landed in more than 10 industries such as metallurgy, chemicals, precision manufacturing, semiconductors, and textiles. Accompanying the order, Basis Origin completed 3 rounds of financing within half a year, with a financing amount of hundreds of millions of yuan. "Smart Emergence" exclusively learned that Guoke Investment, Electronic Control Industry Investment, Shanghai Semiconductor Industry Investment, Construction Investment Investment, Xinheda, Chonglin Capital and Hardcore Nut Capital, betting on the origin and development of the baseline. Dai Zonghong, the "old gun" of AI To B. He was a co-creator of the "AI Six Little Tigers" and previously served as the CTO of Huawei Cloud AI, landing hundreds of customized projects. He once told "Smart Emergence" that the so-called "customization" is to precipitate the enterprise in the expert, business data Know-How, artificial modeling into a set of workflows....

(Central News Agency Hong Kong, 26th Integrated External Telegraph) South Korea's Seoul stock market fell sharply again today, triggering another wave of sell-offs in Asian stocks, bringing the market into the weekend after experiencing a violent shock like a roller coaster. South Korea's KOSPI index has fluctuated sharply over the past five days amid growing concerns about a possible bubble in tech stocks and warnings that the bubble is about to burst, AFP reported. The sell-off came as U.S. stocks plunged, with Apple leading the charge among the “Magnificent Seven” as it announced higher prices for laptops, tablets and other products due to rising costs. Market pessimism has also been exacerbated by Amazon and Microsoft. The EU says the two giants should face stricter digital competition rules given their dominant position in the cloud computing market. Driven by an alarming boom in the field of artificial intelligence (AI), technology stocks have become a major driver in pushing a number of stock markets around the world to record highs. Recently, however, this optimism seems to be fading. With corporate valuations appearing too high, traders are questioning when the trillions of dollars invested will pay off. South Korea's KOSPI index plunged about 9% in afternoon trading before closing down nearly 6%. Chip giant and weighting stock SK Hynix fell more than 8%, while Samsung Electronics fell 5.3%. The sell-off even triggered a 20-minute pause in trading on the KOSPI index....

Notice of the General Office of the State Council on Further Improving the Late-stage Support Policy for Immigrants from Large and Medium Reservoirs The people's governments of all provinces, autonomous regions and municipalities directly under the Central Government, all ministries and commissions of the State Council, and all agencies directly under the State Council: According to the Opinions of the State Council on Improving the Late-stage Support Policy for Immigrants from Large and Medium Reservoirs (GuoFa [2006] No. 17), in order to consolidate and expand the results of the late-stage support policy for immigrants from large and medium-sized reservoirs and further improve the production and living conditions of immigrants from reservoirs, with the consent of the State Council, the relevant matters are hereby notified as follows: First, a five-year transition period is set for immigrants who have been included in the scope of support, and the period of support is extended on an existing basis for five years; for non-removal immigrants who started construction of the reservoir before June 30, 2026, and immigrants from newly built reservoirs after July 1, 2026, the period of support is included in the scope of support, and the period of support is calculated as 25 years. 2. The objects, standards, methods, etc. of support remain unchanged. The objects of support are still rural immigrants from large and medium-sized reservoirs. The support standard is still 600 yuan per person per year. Individuals who can directly distribute to reservoir immigrants should be distributed to individuals as much as possible. Project support can also be implemented, and the combination of the two can be adopted. The Ministry of Water Resources is responsible for the approval of the late period of population support until June 30, 2026. Migrants who need to be included in the scope of support due to the construction of new reservoirs after July 1, 2026 shall be approved once a year by the Ministry of Water Resources in conjunction with the National Development and Reform Commission, the National Energy Administration and other relevant departments. III. Do a good job in the management of the Reservoir Immigration Support Fund...

The 199th plenary meeting of the United Nations World Organization for the Harmonization of Vehicle Regulations (UN/WP.29) was held in Geneva, Switzerland, from 22 to 26 June 2026. At the meeting, the United Nations Global Technical Regulation on Autonomous Driving Systems (ads gtr), jointly developed by China, the European Union, the United Kingdom, the United States, Canada and Japan, was voted on by all Parties and officially approved for release. In recent years, autonomous driving technology has accelerated iterative upgrading and industrialization applications. Major countries and regions in the world have taken it as a strategic commanding point for the future development of the automotive industry, and have introduced planning policies and strengthened the development of regulations. The penetration rate of new vehicles equipped with the combined driver assistance system in China has exceeded 60%. In December 2025, the first two models equipped with the L3 level (conditional automatic driving) system were conditionally licensed. Japan and Germany issued type approval certificates for models equipped with the L3 level system in 2020 and 2021 respectively. The United States supports accelerated road driving and commercial applications through regulatory exemptions and other means. Previously, at the global level and in major countries and regions, there was no complete unified system of standards and regulations for autonomous driving technology. Countries mainly promoted R&D and application according to their own experience, and the development of globally unified technical regulations for autonomous driving systems became the consensus of all parties....