Atlantic Council: China-led cross-border digital currency platform mBridge, still a prototype, has processed 4,000+ cross-border transactions totaling $55.5B
Transactions on a new China-led digital currency platform have surged to over $55 billion, a new report shows …
Chinese state media: China launches three VC funds of $7.1B+ each to back early-stage “hard technology” startups valued below ¥500M, or about $71M
China on Friday launched three venture capital funds to invest in “hard technology” areas, state broadcaster CCTV reported.
Sources: China is considering a ~$28B-to-$70B incentives package, which would be separate from the $50B Big Fund III plan, to support its chipmaking industry
China is considering a package of incentives worth as much as $70 billion to bankroll and support its chipmaking industry …
Sources: China's Moonshot AI, developer of the Kimi models, is raising several hundred million dollars at a ~$4B valuation and is aiming for an IPO in H2 2026
Wall Street Journal :
Xiaomi reports Q3 revenue up 22.3% YoY to ~$15.9B, below ~$16.4B est., and net profit up 80.9% YoY to ~$1.59B, above ~$1.5B est., driven by AI and EV revenue
China's Xiaomi (1810.HK) reported a 80.9% jump in third-quarter profit on Tuesday as the world's third-largest smartphone maker doubled …