BYD hypercar at 472km/h 🏎️ HK leads global IPOs 📈 Huawei's AI super drive 💾

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2025-09-01 | subscribe | homepage

Welcome back to this week’s edition of the China Insights Weekly Newsletter!

Here are some of the key highlights for this week’s edition:

• USD 50B bet on China’s renewables as Saudi giant ACWA doubles down on green power

• World’s first AI agent factory boosts efficiency 80% with Midea’s smart plants

• Top 30% of households drive 80% of spending, reshaping China’s consumer market

• Arctic shipping route to Europe slashes delivery times from 40 days to just 18

Dive deeper into these stories and more by clicking the headlines below. We value your feedback. Let us know your thoughts or suggestions on LinkedIn, X or Facebook.

🚀 Headlines

Mainland firms cement Hong Kong’s hold on IPO top spot (link)

Hong Kong has reclaimed the global lead in initial public offerings (IPOs), with funds raised in the first seven months of 2025 surging over 610% year-on-year to HK$128 billion (USD 16.4 billion) from 51 IPOs. Mainland Chinese firms drove the boom, accounting for 83% of listings and 92% of proceeds. CATL’s USD 5.3 billion IPO was the world’s largest so far this year. New shares in Hong Kong jumped an average of 19.4% on debut, with some like Innogen Pharmaceutical rising nearly fourfold. In comparison, US listings by Chinese firms raised just USD 740.9 million. With over 220 IPO applications pending, analysts expect full-year fundraising to reach HK$160–250 billion, as Hong Kong gains from review efficiency and shifting capital flows.

Saudi power giant ACWA bets big on China’s renewable energy market (link)

Saudi Arabia's largest power producer, ACWA Power, is significantly expanding its presence in China's renewable energy sector. The company plans to boost its renewable capacity in China to over 30 gigawatts (GW) and grow its assets to more than USD 50 billion by 2030. ACWA Power's China president, Saleh Al Khabti, emphasized that over half of the company's global projects involve Chinese partners, and more than 95% of its equipment comes from Chinese suppliers. Globally, ACWA Power has invested USD 117 billion, with a total capacity of 94 GW (52 GW renewables), including the world's largest green hydrogen plant in Saudi Arabia's Neom, which is 80% complete. This expansion aligns with Saudi Arabia's target to derive half of its electricity from renewables by 2030 and produce 4 million tons of hydrogen annually.

Chinese home appliance giant Midea receives the world's first AI Agent Factory certification (link)

Chinese home appliance giant Midea’s pilot plant in Jingzhou has received the world’s first AI agent factory certification from World Record Certification. The factory has deployed 14 AI agents across 38 core business scenarios, including energy, production, and quality control, increasing operational efficiency by over 80%. Tasks that once took hours now take minutes, thanks to AI technologies and coordinated automation. Midea has also developed an AI-powered headset that cuts material inspection time from 15 minutes to 30 seconds using visual recognition and historical data. The Jingzhou plant, which mainly produces washing machines and dryers with an annual capacity of 15 million units, has a planned investment of CNY5 billion (USD 700 million). Midea plans to roll out its AI agent factory model across other facilities worldwide, positioning China as a leader in next-generation manufacturing.