China Executive Insights
Chongqing officially inaugurates the Three Gorges Laboratory, completing its four-laboratory framework targeting digital intelligence, life health, new materials, and green low-carbon technologies.
Huawei unveils AI-FAN architecture for home broadband, targeting the shift from gigabit to 10-gigabit connectivity with AI-powered network intelligence.
Over 20 chip manufacturers announce second price hikes in 2026, with AI-specific MLCCs surging 3-10x and delivery lead times extending to mid-2027.
ByteDance's Doubao and Alibaba's Tongyi Qianwen (Qwen) simultaneously announce the removal of AI agent features, effective July 15.
China's embodied AI robots are now available for hire at homes for as low as 74 yuan for 3 hours, sparking debate on the real value of billion-dollar embodied AI investments.
Alibaba's Hema SuperheSuan NB opens 6 stores in Beijing on the same day as Meituan's Happy Monkey opens 7 stores across cities, escalating hard discount retail competition.
In the previous episode of Tech Odyssey, we visited Portugal Ventures to see how a public venture capital institution supports early-stage startups in Portugal. This time, we moved further upstream — to Coimbra, a small city where university research, applied R&D, and entrepreneurship are closely connected. Coimbra is better known for history than startups. The city has a population of around 140,000 and is home to the University of Coimbra, founded in 1290. Its ancient buildings and academic traditions often define the city’s image. But behind that historical setting, a technology transfer system has been quietly taking shape. At the center of that system is IPN, or Instituto Pedro Nunes, a technology transfer organization that originated from the University of Coimbra. According to Paulo Santos, IPN’s Executive Director of Incubation and Acceleration, the organization works across three main areas: business incubation and acceleration, applied research, and specialized training in management, entrepreneurship, and technology. This structure makes IPN different from a conventional incubator. Its applied research labs work with SMEs and incubated startups on technology and product development.
At the 2026 TapTap Game Conference on Thursday, Recreate Games announced the development of a mobile version of its hit party game Party Animals. The studio said, “The mobile version folder has been created,” but did not disclose a testing schedule or release window. Even so, the announcement quickly drew widespread attention from players. Since its launch on PC and Xbox in 2023, Party Animals has become a popular choice for multiplayer sessions thanks to its adorable animal characters, physics-based slapstick gameplay, and lighthearted party mechanics. The game has earned a Very Positive rating on Steam and received nominations for Best Multiplayer Game at The Game Awards (TGA) as well as the BAFTA Games Awards, making it one of China’s best-known party games. According to the team, the mobile version will retain the core gameplay of the original. Players will once again take control of round, fluffy animal characters to play sports, card games, hide-and-seek, go fishing, or engage in the game’s signature friendly brawls.
Kling AI, Kuaishou’s AI video generation business, raised nearly $3 billion in external funding on July 2, with its post-money valuation expected to reach $18 billion. The financing will support Kling AI’s transition to independent commercial operations. The round was co-led by CPE, Guofang Venture Capital, BlueFive, Tencent, CITIC Securities and Zhongguancun Science City Fund together with CAS Investment. Alibaba Cloud, Baidu and Huace Film & TV also participated alongside dozens of other investors. Lighthouse Capital served as exclusive financial adviser and also invested through its Lighthouse Founders’ Fund (L2F). The Chinese financial advisory firm said its relationship with Kuaishou dates back 12 years, when it advised the short-video company on early-stage fundraising. [TechNode reporting] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.
Kuaishou’s AI video generation platform, Kling AI, is reportedly close to completing a $3 billion funding round, with Tencent participating in the investment. Upon completion, Kling AI is expected to be valued at $18 billion. In May, foreign media reported that Kuaishou was planning to spin off Kling AI and launch an IPO as early as the first quarter of 2027. Kuaishou has already begun discussions with potential investors for a pre-IPO financing round, initially seeking a valuation of $20 billion for Kling AI. The company later confirmed in a filing with the Hong Kong Stock Exchange that it has started evaluating a restructuring plan for Kling AI, which could involve bringing in external investors through the reorganization. Kling AI is Kuaishou’s in-house AI video generation model, launched in June 2024. It offers text-to-video and image-to-video generation capabilities. [TechWeb, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.
Tencent today launched Just Dance: Party, a mobile rhythm game based on Ubisoft’s Just Dance franchise, across iOS, Android and HarmonyOS devices. The game uses a proprietary AI-powered skeletal tracking algorithm that enables full-body motion capture through a smartphone’s front-facing camera, eliminating the need for external accessories such as dance mats or motion controllers. Players can also cast gameplay to a television to create a larger home dance experience. Just Dance: Party retains the franchise’s signature rhythm gameplay while offering a music library spanning Mandopop, K-pop, Western hits and viral online tracks. All songs are available free of charge and will be updated regularly. [TechNode reporting] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.
Chinese social media platform Xiaohongshu has launched an internal startup incubation program, codenamed Darwin, aimed at developing new products beyond its flagship app, according to Sina Tech. The initiative, which recently opened applications to employees, allows selected participants to work full-time on new ventures under the guidance of the company’s senior executives, the report said. Teams will also receive access to Xiaohongshu’s internal resources to support product development. The program is reportedly designed to create a product with the potential to match the scale of Xiaohongshu’s core platform. Employees behind successful projects could become product leads, with positions starting at the company’s L1 management level. Xiaohongshu did not respond to a request for comment from Sina Tech. [Sina Tech, in Chinese] Every Wednesday and Friday, TechNode’s Briefing newsletter delivers a roundup of the most important news in China tech, straight to your inbox. Your support helps TechNode continue to provide credible, on-the-ground journalism and industry insights about the Chinese tech industry.