Xiaomi Outraces Porsche 🏎️ ByteDance Beats Google 🎬 China Drops Africa Tariffs 🌍

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2025-06-16 | 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:

• ByteDance launches Seedance AI, beating Google’s Veo 3

• AstraZeneca signs $5.3B deal with CSPC for AI drug R&D

• Humanoid robot dealership opens in Beijing this August

• Huawei overtakes Apple in global wearables market

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.

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🚀 Headlines

China to expand zero-tariff treatment to 53 African countries (link)

China will expand its zero-tariff treatment to 53 African countries, excluding Eswatini, to strengthen economic cooperation. This policy will cover 100% of tariff lines for all African countries having diplomatic relations with China. The move includes 20 new additions, such as Nigeria, South Africa, Egypt, and Algeria. Since the 100% zero-tariff policy for Africa’s 33 least developed countries took effect on December 1, China's imports from these countries have soared 15% to USD21.4 billion in the first three months of 2025. China remains Africa's largest trading partner for the 16th consecutive year, with bilateral trade reaching CNY2.1 trillion (USD292.8 billion) in 2024 and CNY963.2 billion (USD134.3 billion) in the first five months of 2025, up 12% year-on-year.

ByteDance tops AI video generation benchmarks with Seedance 1.0 (link)

ByteDance's Seedance 1.0 Pro has been launched, setting a new benchmark in AI video generation. According to Artificial Analysis rankings, this model excels in text-to-video and image-to-video tasks, surpassing competitors like Google's Veo 3. Seedance 1.0 Pro can generate a 5-second 1080p video in just 41 seconds at a cost of $0.50, offering high efficiency and cost-effectiveness. The model's technical innovations include the Time Causal Variational Autoencoder (TCVAE) and Decoupled Spatio-Temporal Diffusion Transformer, which enhance video coherence and detail. It is available via the Volcano Engine API, making it accessible for developers and businesses. This release marks a significant step forward in ByteDance's AI capabilities, with broad applications in content creation, e-commerce, and marketing.

UK’s AstraZeneca signs USD 5.3 billion AI research deal with China's CSPC for chronic diseases (link)

Cambridge-headquartered AstraZeneca has signed an AI-led research agreement with China's CSPC Pharmaceutical Group, valued at up to USD 5.3 billion, to develop therapies for chronic conditions. This collaboration includes an upfront payment of USD 110 million, with CSPC eligible for up to $1.62 billion for development milestones and USD 3.6 billion linked to sales-related milestones. The deal follows AstraZeneca's announcement in March to invest USD 2.5 billion in a Beijing R&D hub and marks further investment in AI after collaborations with Immunai, Qure.ai, and Tempus AI. This strategic move underscores AstraZeneca's commitment to innovation in chronic disease management, which impacts over two billion people globally.

Huawei leads global wearables market, Xiaomi second, Apple is only third (link)

According to a new report from IDC China, Huawei led the global wearables market in Q1 2025 with 10 million shipments, capturing a 21.9% market share, up 42.4% year-on-year. Xiaomi followed with 8.7 million shipments and a 19% market share, marking a 42.6% increase from the previous year. Apple ranked third with 7 million shipments and a 15.5% market share, growing 37.2% year-on-year. Samsung and Garmin rounded out the top five with 3.4 million and 2.1 million shipments, respectively. The overall market shipped 45.6 million units, up 10.5% from Q1 2024. China's market alone accounted for 17.62 million units, growing 37.6% year-on-year, driven by government subsidies.

Xiaomi car sets new Nürburgring EV lap record, crushes Porsche and hypercar at fraction of their price (link)

Xiaomi's SU7 Ultra has set a new record at the Nurburgring, achieving the fastest lap time for a production electric vehicle at 7:04.957. This time surpasses the Rimac Nevera's 7:05.298 and the Porsche Taycan Turbo GT's 7:07.55. The production model, equipped with an optional track package, reached speeds of up to 345 km/h (214 mph) and is powered by a tri-motor setup delivering 1,527 hp and 1,306 lb-ft of torque. Despite its hypercar-level performance, the SU7 Ultra is priced at ¥529,000 ($73,600), significantly cheaper than its rivals.

World's first humanoid robot dealership to open in Beijing in August (link)

The world's first humanoid robot dealership is set to open in Beijing in August, featuring an initial lineup of 10 confirmed brands, including Ubtech Robotics and AgiBot. The dealership, located in Yizhuang, Beijing's growing robotics hub, will provide immersive, interactive experiences with humanoid robots and after-sales services. Over 100 upstream and downstream companies in the robotics industry have expressed interest in joining the initiative. Yizhuang, located in Beijing’s southeastern Daxing district, now hosts over 300 robotics companies, with the sector’s total output exceeding CNY 10 billion (USD 1.4 billion). This August, Beijing will also host the 10th World Robot Conference, featuring the world’s first humanoid robot sports competition.

Labubu doll fetches record USD 150,000 at China auction as demand rages (link)

A human-sized Labubu doll created by Hong Kong artist Kasing Lung sold for 1.08 million RMB ($150,000) at an auction in Beijing, highlighting the toy's popularity. The auction at Yongle Auction House included 47 other Labubu items, with a limited-edition brown Labubu selling for 820,000 RMB (approximately USD 114,086). The total sales reached 3.73 million RMB ($518,953). Pop Mart, the Beijing-based maker of Labubu, has seen its shares surge 180% this year. The popularity has led Deutsche Bank to boost its target for Pop Mart shares by 52% to HK$303 ($38.6), and Morgan Stanley to lift its target to HK$302. The Monsters blind-box series, featuring Labubu, generated over 3 billion RMB ($417 million) in sales last year, accounting for nearly one-fourth of Pop Mart's revenue.

Chinese firm launches flying bike with 44.7 mph speed, 31-mile flight range (link)

Chinese tech company Kuickwheel has unveiled its hybrid flying motorcycle, the Skyrider X6, which can reach speeds of 44.7 mph and has a flight range of 31 miles. The three-wheeled vehicle, available for pre-order at approximately $69,000, operates in two modes: a ground mode with a top speed of 43.5 mph and a maximum range of 124 miles, and a flight mode using a 6-axis, 6-rotor electric system. The bike features automated takeoff, landing, and route planning, as well as manual joystick control. It is made from carbon fiber composites and aviation-grade aluminum alloy, and includes safety features like redundant motors and a ballistic parachute. The Skyrider X6 was first showcased at CES 2025.

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🎁 Bonus Stories

China Extends 240-Hour Transit Visa-Free Policy to Indonesia, bringing total to 55 countries (link)

China has extended its 240-hour visa-free transit policy to Indonesia, increasing the number of eligible countries to 55. This move aims to deepen relations with ASEAN members, promote economic cooperation, and enhance cultural exchanges. Indonesian citizens, along with those from 54 other nations, including the US, UK, and the Czech Republic, can now enter China visa-free through 60 designated ports in 24 provinces and stay for up to 10 days for tourism, business, or family visits. In 2024, China saw a 61% increase in inbound tourists to 131.9 million, with spending rising 78% to USD94.2 billion, partly due to visa-waiver schemes. Indonesia had previously revoked visa-free access for Chinese tourists in 2023 due to concerns over illegal immigration and public order.

Shanghai and other Chinese first-tier cities dominate the list of cities with largest working-age populations in the world (link)

Chinese cities dominate the list of cities with the largest working-age populations, with four of the top five cities in China. Shanghai leads with 18.4 million working-age residents, followed by Beijing with 16.5 million. Shenzhen, ranking fifth, has the highest proportion of working-age adults aged 25–64 at 83.3%. India also has two cities on the list, with Delhi and Mumbai among the cities with the biggest workforces. New York is the largest U.S. city on the list, ranking sixth with 13.3 million working-age adults. In terms of growth, Bengaluru in India leads with an average annual growth of 2.4% over the last five years, followed by Toronto at 2.2% and Shenzhen at 2.1%.

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