Some of China's prominent business leaders, including the heads of carmakers BYD and Xiaomi , said they would resist external pressure and keep innovating, following a rare meeting between President Xi Jinping and the private sector.

China's technology stocks rallied Tuesday. E-commerce firm Alibaba and smartphone maker Xiaomi both saw their stock price surge over 4%, while video games firm Tencent and online services company Meituan also gained.

The rise of China's DeepSeek AI model is boosting Chinese tech firms including Alibaba, Baidu, and Xiaomi.

They think Porsche’s cars are too expensive and are missing desirable tech gadgets and features. Porsche sales tanked 28 percent in China in 2024 and Taycan deliveries almost halved in the year. Chinese smartphone giant turned automaker Xiaomi proudly announced last week that its SU7 Ultra sedan has lapped the Shanghai International Circuit almost 1.

Chinese technology stocks advanced sharply on Friday, with Alibaba Group Holding Ltd. jumping 11.41% in Hong Kong trading, as investors responded to positive earnings guidance and anticipated monetary policy easing from Beijing.

Wall Street is flirting with a record again as U.S. stock indexes creep higher on Tuesday. The S&P 500 was up 0.1% in early trading and just above its all-time closing high set last month. The Dow Jones Industrial Average was down 59 points,

Chinese electric sedan lapped Shanghai in 2:09.94 and hit 201 mph on the back straight during its record-setting run

President Xi Jinping presided over a meeting with Alibaba co-founder Jack Ma and other Chinese business leaders, signaling his support for private companies after years of turmoil. The gathering included the heads of Xiaomi and Meituan,

Shares in China's Xiaomi are up more than 30% in Hong Kong this year as the smartphone maker aims to deliver 300,000 EVs in 2025.

The Chinese company's shares rose 5.9% to 47.80 Hong Kong dollars, equivalent to around US$6.14, as of midday Tuesday, taking year-to-date gains to 39%. The shares touched HK$48.15, a new intraday high,

Ren Zhengfei from Huawei, Lei Jun from Xiaomi and Wang Xinxing from Unitree all gave speeches at the high-profile meeting.

T he Xiaomi 15 Ultra has been highly anticipated in the smartphone market worldwide—and rightly so, considering the camera experience its predecessor, the Xiaomi 14 Ultra, deliv