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Overseas Expansion Milestones

The Signing Ceremony of the Agreement Establishing the World Artificial Intelligence Cooperation Organization Held in Shanghai

On July 16, the signing ceremony of the agreement establishing the World Artificial Intelligence Cooperation Organization was held in Shanghai. Wang Yi, Member of the Political Bureau of the CPC Central Committee and Foreign Minister, attended the ceremony and signed the agreement on behalf of the Chinese government. The agreement clarifies that the World Artificial Intelligence Cooperation Organization is an independent intergovernmental international organization, which follows the purposes of the Charter of the United Nations, upholds the concept of extensive consultation, joint contribution and shared benefits, adheres to the people-oriented principle, and aims to promote international cooperation and global governance in artificial intelligence, ensure that artificial intelligence develops healthily and in an orderly manner in a beneficial, safe and fair direction, and benefits all mankind. The headquarters of the organization is located in Shanghai, China. (Xinhua News Agency)

State Administration of Foreign Exchange: Plans to Launch a New Package of Policies to Further Enhance the Facilitation of Cross-border Investment and Financing

On July 17, Xiao Sheng, Director-General of the Capital Account Management Department of the State Administration of Foreign Exchange, stated at a press conference of the State Council Information Office that since 2026, facing the new situation and new changes, the State Administration of Foreign Exchange, on the basis of extensive research on the needs of market entities such as banks and enterprises, and in combination with the process of high-level opening-up of the capital account, plans to launch a new package of policies to further enhance the facilitation of cross-border investment and financing. (Securities Times)

The 9th Plenary Session of the 15th Zhejiang Provincial Committee of the CPC Held in Hangzhou

The 9th Plenary Session of the 15th Zhejiang Provincial Committee of the CPC was held in Hangzhou, thoroughly implementing the "Eight-Eight Strategy", making every effort to promote the full-scale development of an innovation-driven Zhejiang, successfully achieving the annual economic and social development goals and tasks, and building a demonstration zone for common prosperity with high-quality development. The meeting was presided over by the Standing Committee of the Provincial Party Committee, and Wang Hao, Secretary of the Provincial Party Committee, delivered a speech. The plenary session heard the work report delivered by Wang Hao entrusted by the Standing Committee of the Provincial Party Committee, and deliberated on relevant matters. (Zhejiang Commerce)

New Market Insights

Ajman, UAE Launches a $490 Million Urban Development Plan

According to AGBI, the Emirate of Ajman in the UAE has launched the "AM30x30" urban infrastructure plan as a key component of its "Vision 2030". The plan covers five sectors including roads, infrastructure and sustainable mobility, with a total of 30 projects and a total investment of 1.8 billion dirhams, equivalent to approximately $490 million. According to the plan, the road scale in Ajman will expand by 43% from 2026 to 2030; by 2030, the total length of bicycle lanes will increase by 33%. (AGBI)

South Korea Plans to Greatly Relax Foreign Exchange Regulations on Capital Transactions

South Korea plans to greatly relax foreign exchange regulations on capital transactions, and will strengthen a 24-hour response mechanism to cope with Korean won fluctuations. (CLS)

Japan Plans to Procure 27,500 NVIDIA Rubin Chips to Develop a Local Foundational AI Model for Robotics

According to news on July 16, Japan plans to procure 27,500 next-generation NVIDIA Rubin AI chips to build a local foundational AI model for robotics. The newly established Noetra will be responsible for constructing a large data center, and plans to release the first AI model in March 2027, followed by continuous iterations, and launch AI models for robotic applications in the coming years. Noetra has received 387.3 billion yen in funding from the Japanese government as of March 2027, with dozens of enterprises including SoftBank, Toyota Motor-supported Preferred Networks, and NEC participating in its operation. This project aims to reduce dependence on overseas technologies and promote Japan to capture more than 30% of the global robotics market of approximately 60 trillion yen by 2040. (Yicai Global)

Corporate Updates

CATL Signs a 5GWh Sodium-ion Energy Storage Mega Deal with Alfen

36Kr learned that according to CATL's official WeChat account, CATL recently signed a Memorandum of Understanding with Alfen N.V., a European new energy integrator. The two parties plan to deploy 5GWh of Tianheng sodium-ion energy storage systems in Western European countries such as the Netherlands starting from 2027. (36Kr)

Amazon Leo Reaches Agreement with South African Enterprise, Plans to Launch Satellite Internet Service Next Year

Amazon's low-earth orbit satellite network Leo announced on local time July 15 that it has reached an agreement with Herotel, South Africa's largest fixed internet service provider, to bring satellite internet to South Africa through a new service called evry. Evry is expected to be officially launched in 2027, providing internet connectivity for residential users in South Africa. This is the first such agreement reached by Amazon Leo in Africa. (Yicai Global)

Bosch's First US Semiconductor Plant Launches Trial Production Bosch, the German automotive components and chip manufacturer, said on Monday that its first US semiconductor plant is starting trial production, and has finalized a $225 million agreement with the US Department of Commerce aimed at strengthening domestic manufacturing capacity for silicon carbide chips. During President Trump's tenure, some automakers and component suppliers expanded their manufacturing operations in the United States to avoid high tariffs and guard against geopolitical risks. Bosch acquired and renovated the chip plant in Roseville, California from TSI Semiconductors in 2023 at a total cost of $2 billion (including funds from the US Department of Commerce), and will start commercial mass production later this year. (Sina Finance)

Industry Trends

General Administration of Customs: Import and Export of Computing Power Hardware Increased by 56.6% in H1

On July 14, Wang Jun, Vice Minister of the General Administration of Customs, stated at a press conference of the State Council Information Office that with the rapid development of artificial intelligence, the import and export of related products in China have strong momentum. In the first half of the year, the import and export value of China's computing power hardware such as electronic components and computer parts reached 5.13 trillion yuan, an increase of 56.6%; smart products such as glasses, translators and mechanical exoskeletons are iterating rapidly, and various innovative products continue to emerge. (Securities Times)

China's New Energy Heavy-Duty Trucks Set a New Overseas Export Record

Recently, nearly 900 new energy heavy-duty trucks in a single batch were loaded and shipped overseas from Xins Port, Dongguan, Guangdong, setting a new record for the single export scale of domestic new energy tractors. Compared with traditional fuel heavy-duty trucks, each exported electric heavy-duty truck can save an average of $215 in energy costs per day, about $70,000 a year, and the cost of the entire vehicle can be recovered in two years. From the Asia-Pacific to South America, from Africa to Europe, China's new energy heavy-duty trucks are becoming a globally recognized, high-value business card. (CCTV Finance)

Chinese Pharmaceutical Enterprises Are Moving from "Product Export" to "Industrial Export", Highlighting Investment Opportunities in the CXO Sector

On July 12, at the Changping Life Science Forum in Beijing, a relevant official from the Drug Registration Department of the National Medical Products Administration released the latest "report card" on the development of innovative drugs in China. In the first half of 2026, a total of 38 innovative drugs were approved in China, and all 11 drugs with new targets and new mechanisms were domestically developed. At the same time, the total transaction value of out-licensing of Chinese innovative drugs in the same period was nearly $110 billion. According to statistics from the National Medical Products Administration, the total transaction value of out-licensing of Chinese innovative drugs in the whole year of 2025 was $135.655 billion. In other words, in the first half of this year, the scale of out-licensing of Chinese innovative drugs has been close to that of the whole of last year. (CLS)

This article is from the WeChat Official Account "Zhejiang Enterprises Overseas Comprehensive Service Port", authored by: Zhejiang Enterprises Going Global.