China sets 2027 consumption targets
Six government agencies, including the Ministry of Industry and Information Technology (MIIT) and the National Development and Reform Commission, issued a plan to optimize consumer product supply and demand. The plan aims to establish three consumption sectors worth 1 trillion yuan each and 10 hotspots worth 100 billion yuan each by 2027. It sets out 19 key tasks across five areas, including promoting the application of artificial intelligence throughout the consumer goods industry.
Li Auto swings to loss on slumping deliveries
Li Auto Inc. reported a net loss of 624 million yuan ($88 million) for the third quarter of 2025, reversing a 2.8 billion yuan profit from the same period last year. Revenue fell 36.2% year-on-year to 27.4 billion yuan, while deliveries dropped 39% to 93,211 vehicles. The company expects fourth-quarter deliveries to range between 100,000 and 110,000 units, with revenue projected at 26.5 billion to 29.2 billion yuan.
Didi profit jumps 67%
Didi Global Inc.’s net profit surged 66.7% year-on-year to 1.5 billion yuan in the third quarter of 2025. Core platform gross transaction value (GTV) rose 14.8% to 115.8 billion yuan. Transactions in China grew 10.7% to 3.52 billion orders, while international orders increased 24.3% to 1.16 billion.
MIIT launches satellite IoT trial
The MIIT issued a notice Wednesday to begin a two-year commercial trial for satellite Internet of Things (IoT) services. The initiative aims to boost market supply, support the commercial aerospace and low-altitude economies, and establish safety supervision systems. Eligible enterprises must build satellite IoT systems and operate continuously within regulations.
Meituan expands Brazil presence
Meituan’s international food delivery brand Keeta will officially launch in Sao Paulo, Brazil, on Dec. 1. The company plans to invest 1 billion reais ($188 million) to build local infrastructure and service systems covering Sao Paulo and several other cities. This move is part of a five-year, 5.6 billion reais investment plan for Brazil announced earlier this year.
Bain predicts humanoid robot boom
A report by Bain & Co. forecasts that the global market for humanoid robots could reach $120 billion by 2035, with annual sales of 6 million units. In an optimistic scenario, the market size could hit $260 billion. The report expects the bill of materials cost for these robots to drop by 60% to 70% over the next decade, falling to between $10,000 and $20,000.
Noetix Robotics raises funds
Beijing-based humanoid robot maker Noetix Robotics completed a pre-B+ financing round raising nearly 200 million yuan, led by China Capital Investment Group. The funds will be used for R&D, application scenarios, and mass production. This follows a nearly 300 million yuan pre-B round completed in October.
