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StepFun has appointed Qianli Technology chairman Yin Qi as its own chairman and closed a B+ round exceeding RMB 5 billion to accelerate development of foundation models and commercialise AI on devices. The funding and leadership change underscore a strategic push in China to embed large models into cars, smartphones, wearables and robots through close hardware partnerships.

Zhu Xudong, a veteran Chinese semiconductor investor and former Pudong science bureau chief who led state‑backed deals to build domestic chip capability, died suddenly at 62 while on a business trip. His passing leaves a practical leadership gap at a major investment vehicle and removes a seasoned architect of China’s strategy to translate state capital into industrial capacity in semiconductors.

Two Chinese embodied‑AI start‑ups, Galbot and Magic Atom, have been chosen for prominent roles on the 2026 Spring Festival Gala, signalling a shift from technical demonstration to mass visibility. Galbot has secured large industrial orders and more than $300 million in financing, while Magic Atom — spun out of a Xiaomi‑linked robotics team — has shown rapid product development and fundraising momentum.

Samsung plans to begin HBM4 production in February and has passed validation for Nvidia and AMD, signalling a sharper contest with SK Hynix for AI‑grade memory. The move could ease supply constraints for next‑generation GPUs, affect pricing and market share, and has contributed to a notable re‑rating of Samsung’s financial outlook.

Chinese tech giants are using traditional Lunar New Year red‑envelope campaigns to fight for dominance over consumer AI entry points, with Baidu and Tencent pledging hundreds of millions to a billion yuan in giveaways. These promotions aim to convert festival virality into long‑term control of AI interfaces and datasets, but they also carry high cost, regulatory and competition risks.

Tencent has pledged RMB1 billion in Lunar-New-Year cash red packets via its Yuanbao app, and Baidu followed with a RMB500 million giveaway tied to its Wenxin AI assistant. The promotions are designed to drive engagement, accelerate AI adoption and cement payment and app ecosystems, but they carry costs and regulatory and long-term monetization risks.

Yin Qi has been appointed chairman of StepFun while retaining the chairmanship of Qianli Technology, as StepFun closes a B+ round exceeding RMB5 billion. The move pairs deep foundation-model R&D with a hardware-centred commercialization strategy — notably automotive — and signals a new phase of consolidation and specialization in China’s AI landscape.

Samsung has raised NAND flash prices by over 100% in Q1 2026 as AI‑driven demand for high‑performance storage outstrips supply. Analysts say the industry has entered a storage‑chip "supercycle," with tight capacity likely to persist until at least 2027 and meaningful new supply not expected until 2028.

Qianwen has denied claims that its restaurant‑reservation calling feature is operated by humans, asserting the service uses a fast emotion and intent recognition engine to produce humanlike speech. The response underscores tensions between the operational benefits of voice automation and concerns about deception, privacy and regulatory oversight.

China’s national per‑capita disposable income rose 5% to 43,377 yuan in 2025, led by Shanghai, Beijing and Zhejiang, while household spending growth slowed to 4.4%. The gains are concentrated in coastal and major city provinces, and policymakers are prioritising income and job measures to revive consumption.

Li Dongsheng has handed over the TCL Technology CEO role to long‑time executive Wang Cheng, marking a deliberate shift from founder‑led management. The new leadership inherits a heavyweight industrial group with deep exposure to cyclical display and photovoltaic markets, an aggressive overseas expansion aim and a freshly announced JV to take on Sony’s TV business.

Dreame CEO Yu Hao has announced extravagant year‑end rewards—direct flights to Antarctica for top staff, a stadium concert in Suzhou instead of a company party, and one gram of gold for every employee—generating publicity and debate. The gestures highlight a broader trend among some Chinese tech founders to use spectacle and founder‑led branding as talent and marketing tools amid a challenging macro and regulatory environment.

Xibei founder Jia Guolong said he will stop cultivating a personal brand and return to frontline operations as the group forecasts more than RMB 600 million in losses and prepares to close about 30% of its stores. New investors have increased the company's registered capital modestly, signalling both concern and continued faith in the chain’s underlying assets.

Yonghui’s 2025 results reveal a RMB 2.14 billion loss and the fifth straight year of deficits after an aggressive refit programme modeled on Pangdonglai. Traffic gains from the refits have not translated into profit because Yonghui has replicated the superficial features of Pangdonglai without its deep labour, procurement and trust‑based economics, leaving the chain cash‑strained and dependent on a risky RMB 3.1 billion fundraising round.

A tentative Canada–China trade deal to cut tariffs on Chinese electric vehicles in exchange for restored canola access has prompted President Trump to threaten a 100% U.S. tariff on all Canadian imports. The standoff exposes Canada’s vulnerability to U.S. leverage, China’s growing ambition in the EV market, and the broader strategic contest over trade in North America.

Jixiangju, a leading Sichuan condiment maker long expected to list, has been sold to private equity firm FountainVest in a deal transferring roughly 92% of equity and effectively ending founder Ding Wenjun’s control. The transaction lets early investors monetise and could accelerate or reshape Jixiangju’s path to a public listing while altering competitive dynamics in China’s condiment market.

Spot gold topped $5,000 per ounce for the first time on January 26, propelled by central‑bank purchases, safe‑haven flows and expectations of easier U.S. policy. Analysts see both structural and cyclical support for higher prices, though they caution that a stronger‑than‑expected U.S. economy or profit‑taking could prompt corrections.

Wang Shi, the 75‑year‑old founder of Vanke, has been compelled to rebut marital split rumours as social‑media footage and changes in joint holdings signal a decoupling from his younger partner, Tian Pujun. The personal spectacle mirrors Wang's professional decline since the 2015 Vanke power struggle and failed post‑Vanke ventures, underscoring how attention economies and generational shifts can hollow out the authority of once‑powerful business figures.

JD.com and Meituan have turned car sales into a new competitive front, reflecting a deeper battle for high-frequency user engagement in China’s instant-retail era. While both platforms see vehicle retail as an entry to lucrative aftermarket services, JD may achieve faster gains by prioritising daily-use services like shared bikes to boost app open rates rather than doubling down on selling cars or high-barrier travel businesses.

The U.S. State Department reported a January 25 call between Secretary of State Rubio and Iraqi Prime Minister Mohammed Shia' al‑Sudani about transferring IS detainees from northeastern Syria into Iraqi custody. The talks reflect urgent security concerns after instability in Kurdish-held areas, but transfers would raise legal, logistical and geopolitical complications for Iraq and regional actors.