Top News
Chinese President Visits Washington This Week for Summit With Trump
China officially announced that President Xi Jinping will make a two-day state visit to the US this week to meet with President Donald Trump in their second summit this year. US media reported that Trump will personally greet Xi at the airport, a rare honor for a visiting head of state. Discussions are expected to cover trade, investment, technology and geopolitics. Last year, both nations called a truce in bilateral trade tensions related to tariffs, export controls and other trade barriers. US Treasury Secretary Scott Bessent, after a weekend meeting with Chinese Vice Premier He Lifeng, said both sides also discussed the establishment of a new "US-China AI dialogue," with a particular emphasis on creating a bilateral notification system to cover AI-related incidents that rise to a national security level. The guest list for a state dinner for Xi at the White House includes Nvidia chief Jensen Huang and other leaders of big US tech firms.
Amid Continuing Threats, Focus of Iran Conflict Shifts to UN
US President Donald Trump said the only options left on the table in the Iran war, absent of a peace deal, are "wiping Iran out" or letting its economy rot. His remarks came just days before the convening of the UN General Assembly, where an Iranian delegation will join other global leaders at a forum that was founded to promote world peace. Iran said it has military intelligence suggesting a large-scale strike being prepared by the US and warned of "painful" retaliation across the Middle East if that occurs. Trump told Fox News that he would be open to meeting Iranian President Masoud Pezeshkian on the sidelines of the assembly. Tehran has insisted that it will not reopen the Strait of Hormuz until Washington fulfills commitment it made in a June memorandum, including lifting the US naval blockade of Iranian ports, easing sanctions and unfreezing Iranian assets. Global benchmark Brent crude futures in New York declined to around US$100 a barrel.
NATO Takes Intelligence Warnings of Russian Attacks in Europe Seriously
European intelligence officials have raised the possibility of an imminent Russian "test" of NATO, with one saying a potential attack could come in a matter of "months, not years," the Guardian reported. The warnings come after Polish Prime Minister Donald Tusk told his parliament of intelligence assessments suggested Russia might launch an attack with drones or missiles on NATO in order to test the organization's pledge that an attack against one is an attack against all members. French President Emmanuel Macron called Tusk's warnings "sound and well-documented." The Guardian cited interviews with three European intelligence leaders, who said the warnings threats are plausible. "We don't see indications of an imminent attack," said Normunds Mežviets, director general of Latvia's state security service, but he said there are signs that Moscow is making preparations for more decisive actions in Europe.
WorldSkills Competition Opens Today in Shanghai
The 48th WorldSkills Competition opens today in Shanghai. It is an Olympics-style event that showcases vocational, non-academic skills among young people up to the age of 23. This year's competition, which ends on Sunday, brings together a record 1,385 competitors from across five continents to compete in skills related to 64 trades, including robotics, welding, aircraft maintenance, cooking, hairdressing, and web development. Among new categories this year are drone systems, software testing and rail-vehicle technology. China is fielding 71 competitors.
Top Business
RoboTechnik, Three Other Chinese Companies Begin Sales of IPO Shares
RoboTechnik Intelligent Technology, a Chinese automation equipment maker, priced its Hong Kong IPO, seeking to raise as much as HK$5.2 billion (US$663 million) through the sale of 12 million shares at up to HK$436 each. If options attached to the sale are exercised, the amount raise could rise to HK$6.85 billion. The company makes equipment for solar cell manufacturing, and also assembly and testing systems for silicon photonic devices used in optical interconnections for data centers and AI infrastructure.
RoboTechnik was one of four Chinese mainland companies launching initial public offerings in the city on Monday. Printed circuit board maker Kinwong Electronic is seeking to raise up to HK$5.1 billion via a secondary sale of 72.9 million shares priced at up to HK$69.88. Red Avenue New Materials said it plans to sell 68 million shares at a maximum price of HK$44 to raise up to HK$3 billion. And Direct Drive Tech, a provider of automotive solutions, is seeking to raise HK$1.1 billion, with its shares priced at HK$21.6. Shares in all four companies are expected to start trading on September 29.
Lenovo's Legend Subsidiary to Sell 90 Percent Stake in Luxembourg's Oldest Bank
China's Lenovo, the world's largest maker of personal computers, said its Legend Holdings subsidiary has begun the formal sale of its 90 percent stake in Banque Internationale of Luxembourg, the nation's oldest bank, the Luxembourg Times reported. Legend is seeking to raise about 2.5 billion euros (US$2.9 billion) from the sale, with bids to close next week. It acquired the stake in the bank from Qatari investment firm Precision Capital in 2017, valuing the bank then at 1.6 billion euros. The bank has assets under management of 50 billion euros.
New World to Spin Off Shanghai K11 Commercial Assets Into Listed Real Estate Trust
Hong Kong-based New World Development said on Monday that it has received approval from the Shanghai Stock Exchange to spin off and list its NWD C-REIT on the exchange, with the offer expected to raise 3.8 billion yuan (US$570.5 billion). New World said it will subscribe for at least a 20 percent interest in the real estate investment trust, with the remainder to be offered to institutional and retail investors. Underlying assets of the trust are the property developer's commercial holdings in the K11 Art Mall shopping center and the K11 Atelier office complex in Shanghai.
Economy & Markets
China's Robot IPO Craze May Face Tighter Screening
Chinese regulators have signaled to investment banks that initial public offerings in robotics will face tougher scrutiny, according to financial news outlet Cailianshe. The informal guidance comes after robotics giant Unitree's IPO in August debuted with a 460 percent price increase, only to fizzle 55 percent from that peak as investors reassessed its marketing prospects. Regulators reportedly will be vetting whether valuations and revenue reflect commercial demand and real-world applications for robots. IPO pipelines on Chinese mainland markets and in Hong Kong are filled with robotics companies seeking to raise funds publicly. The regulatory move highlights Beijing's effort to cool an investor craze in one of China's hottest investment themes without undermining a technology the government has made a national priority.
China Central Bank Injects Liquidity Into Banking System Ahead of Holidays
China's central bank deployed its reverse repurchase monetary tools to inject about 100 billion yuan of short-term cash into the banking system to maintain ample liquidity during this week's Mid-Autumn Festival and next week's start of the seven-day National Day holiday.
Huayuan Holding Shares to Be Transferred to Beijing Financial Street Capital
Shenzhen-based Huayuan Holdings said its controlling shareholder, Huayuan Group, plans to transfer 29.9 percent of the company's shares to Beijing Financial Street Capital, though the Xicheng District State-Owned Assets Supervision and Administration Commission will retain effective control. The transaction consists of a negotiated transfer of 21.5 percent of shares for about 1.1 billion yuan (US$167 million) and a no-cost transfer of 8.4 percent of shares. Huayuan Group's stake will fall to 17.7 percent from 47.6 percent when the transaction is completed. Formerly known as Huayuan Real Estate, the Shanghai-listed company divested its property development business in 2024 and pivoted to property management and hotel operations, but has yet to turn a profit.
Bitcoin Rises as Confidence Returns
Bitcoin rose above US$86,000 on Monday in New York, its highest level since January, as a recent rally highlighted a return to confidence in the cryptocurrency after a long price decline. Ethereum, Dogecoin and other cryptocurrencies also posted strong gains. Cryptocurrencies often trend in tandem with sentiment on the advanced technology sector. The tech-heavy Nasdaq in New York rose 2 percent to a record on Monday.
China's Rare-Earth Magnet Exports to US Decline
China's rare-earth magnet exports to the US in August fell 21 percent from July to 512 metric tons, according to customs data. The magnets are essential components in the production of electric vehicles, consumer electronics and military hardware. China imposed export controls on the magnets and other rare earths in April 2025, during a peak in China-US trade tensions. China is the world's biggest producer of rare earths.
Corporate
Hygon Information Moving Into Real-World Chip Applications
Beijing-based semiconductor maker Hygon Information Technology is set to release a new chip targeting physical-world applications, robotics, expanding beyond its current focus on data centers, according to Chinese media reports. The product launch, scheduled for today, marks Hygon's move into a new chip category powering machines that interact directly with their environments. The new chip is a refinement of the company's CPU1000 series, targeting a range of physical AI applications, including robotics, machine vision and intelligent manufacturing, according to China Securities Journal.
Jinan Acetate to Acquire Cerdia in Cash-and-Stock Deal
Jinan Acetate Chemical announced it will acquire 100 percent of Cerdia Holding, one of the world's top three cellulose acetate tow manufacturers, for about US$368 million. The seller is a fund managed by Blackstone. The cash-and-share offer will involve the issuance of about 10 percent of Taiwan-listed shares and a cash payment of US$214 million. Cerdia operates a research and development center in Germany. The deal remains subject to regulatory approvals and closing conditions.
Beauty Group Yatsen to Push Deeper Into Skin Care
Yatsen Group, the Chinese beauty company behind Perfect Diary cosmetics, plans to deepen its push into skincare and new product development to bolster growth after a years-long overhaul of its business that has seen the firm acquire a string of overseas brands, the South China Morning Post reported. The Guangzhou-based company will slow its acquisition spree and instead focus on expanding its existing portfolio of skincare offerings and possibly raise spending on research and development spending, according to founder and Chief Executive David Huang. Perfect Diary initially drove company earnings, but the New York-listed company has since built a skincare portfolio including French brands Galenic and Eve Lom, and the Taiwanese Dr Wu dermo-cosmetics brand. The company's loss in the second quarter widened to 91 million yuan (US$14 million) from 19.5 million yuan a year earlier on higher sales and marketing costs.
Moonshot's Kimi3 Model Added to Amazon's Bedrock Platform
Amazon Web Services said its AI platform Amazon Bedroc has added Kimi K3, the open-source large model from Chinese startup Moonshot AI, allowing corporate developers worldwide to access it directly alongside models from Anthropic and OpenAI. Moonshot deploys Kimi through foreign cloud providers and takes a share of the revenue the usage generates.
Chinese Chain Restaurant Xibei Battles Closure Rumors
Xibei founder Jia Guolong called for tighter regulation against misinformation spread online after denying recently posted rumors that his restaurant chain would close within months. Xibei, which specializes in the cuisine of northwestern China, has been struggling since an online influencer a year earlier accused the restaurant of serving "pre-made food." The chain has since closed about a third of its outlets, with 226 locations remaining in China and four in California.
Yadea Joins Africa's Largest E-Mobility Firm
Yadea, the world's top maker of electric two-wheelers, signed an agreement with Dubai-based Spiro, the largest electric mobility operator in Africa, to supply vehicles tailored to African roads and business use. Under the pact, Spiro will integrate the vehicles into its battery-swap and energy network across seven countries on the continent. Spiro runs more than 130,000 electric motorcycles and 2,500 battery-swap stations. Yadea has been building its Africa presence since opening its first store in Ethiopia last year and expanding into Kenya.
Robotics Theme Park Opens in Southern China
Robotics giant AgiBot and tourism conglomerate Chimelong opened the world's first large embodied AI theme park in the southern city of Zhuhai. The park features more than 100 robot features, spanning entertainment, commercial performances and tour guiding.
Editor: Yao Minji
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Sep 19, 2026
