Kr Evening Post | Jensen Huang Voices Strong Support for Chinese Open-source AI Models; State Administration for Market Regulation: Thoroughly Rectify "Involution-style" Competition

Large Companies:

ByteDance Establishes Shuofang Xinghe Technology Co., Ltd. in Zhongwei with a Registered Capital of RMB 2.4 Billion

36Kr learned from Tianyancha App that Zhongwei Shuofang Xinghe Technology Co., Ltd. was recently founded, with Tian Kai as its legal representative and a registered capital of RMB 2.4 billion. Its business scope includes information technology consulting services, software development, information system integration services, network equipment sales, etc. Shareholder information shows that the company is wholly owned by Beijing ByteDance Network Technology Co., Ltd.

Prices of gold jewelry from brands including Chow Sang Sang and Lao Feng Xiang have been lowered across the board

On local time July 23, gold and silver plunged sharply while oil prices surged. Spot gold dropped 1.96% at $4049; spot silver fell 3.60% at $57.5967 per ounce. International precious metal futures generally closed lower. COMEX gold futures fell 2.4% at $4052.30 per ounce; COMEX silver futures dropped 3.99% at $57.90 per ounce. At Beijing time July 24, spot gold and spot silver kept falling. Reporters found after sorting that domestic branded gold jewelry prices dropped sharply again after three consecutive hikes: Chow Sang Sang's fine gold jewelry is quoted at 1227 yuan per gram, a sharp drop of 31 yuan in a single day; Lao Miao Gold's fine gold jewelry is now quoted at 1231 yuan per gram, down 27 yuan in a single day; Lao Feng Xiang's fine gold jewelry is now quoted at 1229 yuan per gram, down 24 yuan in a single day. (Zhongxin Jingwei)

Jensen Huang Voices Support for China's Open-Source AI Models

According to US media reports on the 22nd local time, Jensen Huang, Founder and CEO of NVIDIA, talked about China's artificial intelligence development in an interview, noting that China's open-source AI models are very excellent and the United States should not be afraid of China's open-source AI models. Jensen Huang said: "These Chinese large models are extremely outstanding, and excellent open-source large models should be put into use. I believe that high-quality open-source large AI models are of great benefit to the whole industry." Multiple foreign media outlets pointed out that China's rapid launch of cost-effective AI models has broken the previous industry consensus on the AI technology gap between China and the US, bringing a huge shock to Silicon Valley. (CCTV Finance)

Mobileye announces plans for leadership transition, Amnon Shashua intends to step down as CEO

Mobileye announced on July 23 that its founder Amnon Shashua has informed the board of directors that he will resign from the position of the company's Chief Executive Officer once the successor takes office. The board of directors will launch a comprehensive CEO selection process to identify the successor. The board has proposed that Shashua serve as the chairman of the company after the new CEO takes office. (Jiemian)

UniCredit CEO Says Acquisition of Commerzbank Expected to Be Completed in Q4

Andrea Orcel, CEO of UniCredit, Italy's largest commercial bank, said in an interview on Thursday that the bank is likely to complete the acquisition of Commerzbank in the fourth quarter. Orcel stated that UniCredit is satisfied with its shareholding position in Commerzbank, has now raised its shareholding ratio to 48%, and is gradually realizing full control over the bank. (Sina Finance)

CSRC Approves Sinenovo's STAR Market IPO Registration

36Kr learned that the China Securities Regulatory Commission recently issued the approval on the registration of the initial public offering of shares of Suzhou Sinenovo Pharmaceutical Technology Co., Ltd., approving the company's registration application for its initial public offering of shares and listing on the STAR Market.

Investment and Financing:

Meta Faces Higher Borrowing Costs in Its Latest $12 Billion Data Center Financing

It is reported that bond investors are seeking significantly higher yields in the latest $12 billion Meta-backed data center transaction. Compared with the terms reached nine months ago, the market has priced in the higher risks of artificial intelligence financing. According to people familiar with the matter, the data center project located in El Paso, Texas with a capacity of nearly 1 gigawatt plans to issue bonds through a special purpose company under BlackRock, with yields exceeding 7% in preliminary discussions. The above sources added that the price discussion is still in the early stage and may change when the transaction is officially launched as early as next Monday. (Sina Finance)

New Products:

COLMO Launches Single-Vent Indoor Unit and Turing Pro Full-Time 3-Pipe Central Air Conditioner

On July 23, AI technology home appliance brand COLMO held the Turing Pro new product launch event, unveiling the industry's first single-vent central air conditioning indoor unit and the Turing Pro full-time 3-pipe central air conditioner. The new product integrates the air supply, return and inspection ports into one, enabling installation with a single linear duct to free up floor height and cabinet space. Equipped with a 3Hz ultra-wide frequency compressor and AI algorithm, it achieves precise temperature control of ±0.2℃ across all regions. Paired with an AI smart screen, it creates a whole-house smart air hub.

Today's Viewpoint:

State Administration for Market Regulation: Intensify Rectification of "Involution-style" Competition

36Kr learned that on July 23, the State Administration for Market Regulation held the 2026 second-quarter work review meeting, to take stock of and coordinate the implementation of the decisions and arrangements of the CPC Central Committee and the State Council as well as the key tasks of the Administration by all affiliated entities in the second quarter, and make arrangements for key work in the third quarter. The meeting required that all decisions and arrangements of the CPC Central Committee must be firmly implemented, the in-depth rectification of "involution-style" competition be advanced, the Party building work for the group of online delivery workers be solidly promoted, the centralized rectification of undesirable practices and corruption issues occurring around the people be deepened, special rectification in key fields be carried out properly, and flood prevention and drought relief work be well performed in accordance with respective duties. It is necessary to strengthen the political responsibility for exercising full and strict Party self-governance, properly organize the fifth internal inspection of the Party Leadership Group, and further foster a positive and clean atmosphere for officers to fulfill their duties and start undertakings.

Beijing: Encourage the development of Token economy, increase support for measures including computing power vouchers

36Kr learned that the Beijing Municipal Development and Reform Commission and other relevant departments have jointly issued the *Several Measures of Beijing Municipality on Accelerating Intelligent Agent-led Development*, to promote the innovative and leading development of intelligent agents, and take the lead in fostering new forms of intelligent economy. The document encourages the development of Token economy. It supports innovation entities to develop general-purpose processors adapted to intelligent agent system invocation, complex task scheduling and high-frequency decision-making, as well as dedicated inference chips with low latency and high throughput. It promotes innovation entities to tackle key technologies such as inference architecture, reduce inference costs through heterogeneous collaboration, storage-computation collaboration and intelligent scheduling, accelerate the efficiency optimization of application layers such as inference cache reuse and intelligent task routing, and improve Token efficiency through full-link optimization. It restructures product forms and service modes, fosters new business models including Token as a Service (TaaS), Agent as a Service (AaaS), and Result as a Service (RaaS), and promotes more qualified new Token products and services to be included in the scope of products covered by service vouchers for small and medium-sized enterprises. The city will ramp up support via measures such as computing power vouchers, and encourage qualified districts to work with innovation entities to explore the issuance of Token vouchers, intelligent agent service vouchers and other measures to accelerate the promotion and application of intelligent agents and related products.

Other News Worth Noting:

Major Breakthrough in China's Brain-Computer Interface: Realizing Simultaneous EEG Signal Collection of Over 1,000 People Across Different Regions for the First Time

Brain-computer interface is a key track of the global future industry, and large-scale, high-quality EEG data is the core foundation for promoting the technology to move from the laboratory to industrialization. Yesterday afternoon, a Chinese scientific research team released a new type of EEG signal acquisition device, which realized the simultaneous EEG signal collection of over a thousand people across different regions worldwide for the first time, marking a key step forward in the training of large neural models and the R&D of general brain-computer interface technologies. According to the R&D team, to achieve thousand-level cross-regional synchronous acquisition, two core technical difficulties have been overcome: first, to ensure signal acquisition accuracy while miniaturizing the equipment; second, to eliminate the impact of network latency, achieve millisecond-level precise time alignment among multiple devices in different regions, and ensure that different EEG signals can be analyzed uniformly. In the future, large-scale EEG acquisition technology will continue to accumulate data for training neural foundation models. This also means that the learning materials for AI will no longer be limited to indirect information such as text, images and videos, but can directly understand human cognitive states through neural signals. (CCTV Finance)

Ministry of Commerce: Online retail sales of smart exoskeletons and smart eyewear rose by 458.4% and 151.7% respectively from January to June

36Kr learned that an official from the Department of Electronic Commerce of the Ministry of Commerce introduced the development of China's e-commerce sector from January to June 2026. Focusing on high-quality consumption upgrading initiatives including the "National Online New Year Shopping Festival" and "Double Quality Online Shopping Festival", the consumption potential has been fully unleashed. According to data from the National Bureau of Statistics, the national online retail sales of physical goods increased by 4.8% from January to June, driving the total retail sales of consumer goods to rise by 1.2 percentage points. Smart consumer products continued to deliver strong growth. According to monitoring data from the big data system of the Ministry of Commerce, the online retail sales of smart exoskeletons and smart eyewear increased by 458.4% and 151.7% respectively. Data from the National Bureau of Statistics shows that online retail sales of services increased by 6.0%. Per the monitoring of the Ministry of Commerce's big data, online sales of tourism and catering services went up by 27.2% and 13.9% respectively.

Aotian Gande-1 01 Satellite Successfully Launched

At 7:33 on July 24 Beijing time, the Lijian-1 carrier rocket developed by CAS Space was successfully launched at the Dongfeng Commercial Space Innovation Pilot Zone, smoothly sending 5 satellites including the Gande-1 01 Satellite into the preset orbit. As is known, the Gande-1 01 Satellite is the first satellite of the space debris monitoring constellation built by Aotian Technology (Beijing) Co., Ltd., and it is also the first commercial space debris monitoring satellite in China. After entering the orbit, the satellite's solar panels deployed normally with stable attitude, and the launch mission achieved complete success. The successful launch of this first satellite marks the official kick-off of the Aotian Gande constellation networking construction.

Vice Foreign Minister Ma Zhaoxu Visits the United States

From July 22 to 23, 2026, Vice Foreign Minister Ma Zhaoxu of the Ministry of Foreign Affairs visited the United States upon invitation, held consultations with U.S. Deputy Secretary of State Landau, met with Kanapathy, Senior Director for Asian Affairs of the White House National Security Council, and U.S. Deputy Secretary of Defense Colby, had exchanges with members of the U.S. Senate and House of Representatives, and conducted in-depth exchanges of views on implementing the important consensus reached by the heads of state of China and the United States and promoting the construction of a constructive China-US strategic stability relationship. (CCTV News)

US Government Announces $5 Billion in Funding for Artificial Intelligence Scientific Research

Michael Kratsios, Director of the White House Office of Science and Technology Policy, announced on the 22nd that multiple US federal agencies have pledged to allocate more than 5 billion US dollars to the "Genesis Mission" initiative coordinated by the Department of Energy, aiming to use artificial intelligence (AI) technology to accelerate basic scientific research. Analysis points out that this move marks that the US administration is accelerating the reshaping of the federal scientific research fund allocation model, and further tilts the funding priority to artificial intelligence-empowered projects and independent researchers. (Sina Finance)