Hi everyone. I’m Stephanie LI.

Coming up on today’s program

• 2025 World AI Conference kicks off in Shanghai in the weekend, with humanoid robots from China taking center stage;
• Profits of China's major industrial firms narrow decline in June.

Here’s what you need to know about China in the past 24 hours

China's humanoid robotics sector reached a new milestone at this year's World Artificial Intelligence Conference (WAIC), held in Shanghai from Saturday to Tuesday, where more than 150 robots were showcased in the country's largest and most advanced lineup to date.

The Shanghai World Expo Exhibition and Convention Center is hosting more than 3,000 cutting-edge products and services, including more than 100 global and Chinese debuts. More than 60 intelligent robot models debuted at the WAIC, with more than 80 enterprises specializing in embodied intelligence taking part.   

Chinese robotics firm Dobot Robotics displayed its newest robotic arm, equipped with Tencent Robotics X's VLA large-language model. The robotic arm demonstrates advanced human-machine interaction capabilities, being able to engage in natural dialogue, interpret user's intent, perceive environmental conditions and reject unreasonable commands.

Unitree Robotics presented a lineup of embodied artificial intelligence (AI) innovations at the WAIC, including its boxing robot, which showcases the fusion of cognitive and motor intelligence through high-precision movements.

Also making its world premiere, Shenzhen-based Cyborg Robotics unveiled the Cyborg-R01, China's first heavy-duty humanoid robot. Built for industrial scenarios including heavy load handling, the model is designed to enhance automation and accelerate the intelligent transformation of manufacturing.

China's humanoid robotics sector is rapidly moving from concept verification to practical application, driven by technological development and market demand. Morgan Stanley stated in a May report that China is taking a dominant position in AI robots, humanoid robotics and related fields. 

Meanwhile, China unveiled a 13-point action plan on artificial intelligence that includes a proposal for the formation of a multinational group to foster global integration of AI development and regulation at the conference. China has suggested Shanghai host the organization.

Prominent scientists and AI industry leaders attending the conference lent their voices to the call for global cooperation. Nobel laureate Geoffrey Hinton, considered the "godfather of AI,' likened the technology to a "cute tiger cub" that can become dangerous as it matures. He said a shared commitment to ensure its safe development is critical. Stuart Russel, a University of California computer sciences professor, warned against a pointless "arms race" mentality in the development of AI.

As China's robotics technology advances, its global market presence - especially in emerging regions - is expanding rapidly, said Chee Fai Tan, president of the ASEAN Federation of Smart Industry at the WAIC. 

"Southeast Asian countries are quickly embracing automation and digitalization. Industrial and collaborative robotic arms are now widely used in high-precision areas such as semiconductors, electronics, coating and welding. An increasing number of Chinese robotic solutions are entering the ASEAN market, gaining strong traction among small and medium-sized enterprises due to their cost efficiency, improving quality and robust supply and after-sales support," said Chee.

GBA express

• Hong Kong financial secretary Paul Chan said in his Sunday blog that the SAR's economy has maintained a steady recovery trajectory, with the second-quarter GDP figure expected to show the 10th consecutive quarter of growth, driven by robust exports, increased investment, and a rebound in private consumption. Building on the 2.5 percent economic expansion in 2024, Hong Kong's GDP expanded by 3.1 percent in the first quarter of this year.
• Hong Kong recorded about 24 million tourist arrivals in the first half of the year, up 12 percent from a year earlier. Arrivals from the mainland totaled 17.8 million, up 10 percent in the period. Meanwhile, Macao saw over 19 million visitors in the first half of this year, up 14.9 percent from a year earlier. The number of mainland visitors rose 19.3 percent to 13.77 million.

Industry and company news

• The profit decline of China's major industrial firms narrowed in June compared with May, with emerging sectors led by equipment manufacturing posting solid growth, the National Bureau of Statistics (NBS) said on Sunday. Revenue of major industrial enterprises rose 1.0 percent year-on-year last month. Total profits came in at CNY715.58 billion in June, down 4.3 percent year-on-year, but the drop narrowed by 4.8 percentage points from May. Notably, the manufacturing sector saw a marked improvement, with profits reversing from a 4.1 percent decline in May to a 1.4 percent increase in June. In the first half of the year, the revenue of China's major industrial firms rose 2.5 percent year-on-year, while profits declined by 1.8 percent.
• China's tax revenue will likely top CNY85 trillion during the 14th Five-Year Plan period that started in 2021, up CNY13 trillion from the previous five-year period, Xinhua reported, citing the State Taxation Administration. The number of tax-paying business entities has exceeded 100 million as of the end of last month.
• China's 2025 summer box office, including presales, exceeded CNY5 billion as of 11:19 a.m. on Sunday, according to box office tracker Maoyan. Daily box office takings have remained above CNY100 million for 10 consecutive days, said Maoyan.
• China allocated the proceeds of a third tranche of CNY69 billion ultra-long special government bond funds to support the country's consumer goods trade-in program, the Ministry of Finance said. Some 300 billion yuan has been earmarked this year for the program. As of July 16, 280 million people had applied for the subsidies.
• E-commerce giant JD.com is in advanced talks to acquire German electronics retailer Ceconomy for a possible 2.2 billion euros. A deal of that size would be the largest Chinese retail investment in Europe to date. Ceconomy has confirmed that discussions are underway and that JD is considering a 4.60 euro per share cash offer, though no binding agreement has been signed.
• CK Hutchison opened 1 percent up today after the conglomerate owned by Chinese billionaire Li Ka-shing said today it wants to invite a major strategic partner from China to join a consortium to buy its global ports, according to an exchange filing. The composition of the consortium and the structure of the transaction will have to secure regulatory approval.
• British-based GSK will pay Chinese innovative medicines giant Hengrui Pharma USD12.5 billion for exclusive global rights to develop 12 drugs. The deal would give GSK the rights to develop a drug for treating chronic obstructive pulmonary disease (COPD) called HRS-9821, as well as 11 of the preclinical programs owned by Jiangsu Hengrui Pharmaceuticals, according to a statement to the Hong Kong stock exchange on Monday. Hengrui’s shares jumped as much as 9 percent to an intraday high in Hong Kong today.

Asia-Pacific highlights

• As Chinese enterprises are evolving from exporting products and capacities to building entire industrial chains in the Southeast Asian market, for in-depth overseas market development, safety is the top priority for overseas investment, industry insiders and experts told a seminar held by Guangdong’s Development and Reform Commission that focused on helping enterprises go global. Chen Riling, president of Indonesian Guangdong General Chamber of Commerce, with 20 years of overseas experience, said Indonesia, for its stable political environment and policy continuity, large population, advanced infrastructure facilities, and favorable policies for foreign investment, remains a hotspot for Chinese firms to expand overseas market. Chen noted that Guangdong enterprises looking to invest in Indonesia may find opportunities in such fields as industrialization, new energy, urban renovation and infrastructure construction.

Editor: LI Yanxia

Host: Stephanie LI

Writer: Stephanie LI

Sound Editor: Stephanie LI

Graphic Designer: ZHENG Wenjing, LIAO Yuanni

Produced by 21st Century Business Herald Dept. of Overseas News.

Presented by SFC