CPE takes majority of Burger King China
Chinese private equity firm CPE plans to invest $350 million for an 83% stake in a joint venture that will control Burger King’s operations in China, marking a major strategic pivot by the fast-food brand to revive its performance in the competitive Chinese market. Restaurant Brands International Inc. (RBI), the Canadian owner of Burger King, will retain a 17% stake in the newly formed venture, which has exclusive rights to the brand in China for 20 years. The transaction, which values the business at nearly $421 million, is expected to close in the first quarter of 2026.
Rationality and AI reshape China’s consumer market, report finds
Chinese consumers are gravitating toward domestic brands and artificial intelligence to guide their shopping decisions, as tighter budgets and a cooling economy usher in a new era of rational consumption. According to a report published Monday by consulting firm Accenture, value-for-money has overtaken brand loyalty in consumer priorities, with domestic brands enjoying a significant boost in popularity. Based on a survey of 5,000 people across cities from tier one through five, the report found that 37% of Chinese consumers now rely on AI tools to assist with their purchases.
Value of intended deals signed at CIIE hits record high
The value of intended deals signed at the 8th China International Import Expo (CIIE), which concluded in Shanghai on Monday, reached a record high of $83.5 billion, a 4.4% increase year-on-year, according to data from the CIIE Bureau, the organizer of the event. A record 4,108 overseas companies and international organizations from 155 countries and regions participated in the event, which covered an exhibition area of over 430,000 square meters. The expo also set a new high for attendance, with 922,000 trips recorded as of Monday noon, up 8.2% year-on-year.
Apollo Go gets license for fully driverless commercial robotaxi services in Abu Dhabi
Apollo Go, Baidu Inc.’s autonomous driving unit, announced Monday that it has obtained one of the first licenses for fully driverless commercial ride-hailing services in Abu Dhabi. The license was granted by the emirate’s Integrated Transport Centre. Apollo Go entered the Abu Dhabi market in March through a partnership with local self-driving firm AutoGo, with plans to achieve fully unmanned operations by 2026. Apollo Go said its robotaxis now operate in 22 cities worldwide, including Beijing, Shanghai and Dubai.
Robotics startup Wujie Dynamics raises 300 million yuan
Embodied AI startup Wujie Dynamics said Monday it has raised 300 million yuan ($42 million) in an angel funding round. The round was led by HongShan Capital Group and Linear Capital, with participation from investors including GL Ventures, Horizon Robotics and Baidu Ventures Wujie Dynamics’ founder and CEO, Zhang Yufeng, previously held senior roles at companies including Sony, Arm and Horizon Robotics.
