China Recap is a weekly roundup tracking Chinese companies expanding abroad, covering market entries, funding rounds, product launches, and global partnerships.
China’s corporate globalization strategy is evolving fast. Industry giants are rewriting the global playbook, while a new generation of companies charts fresh paths overseas.
China Recap tracks both—focusing on strategic expansion, brand building, and localized operations—to help readers make sense of shifting trends and understand how Chinese firms are reshaping their global approach.
Here is this week’s roundup:
China deepens cooperation with Brazil across sectors
- Sinovac and Brazil’s Eurofarma signed an agreement on May 12 to co-develop a vaccine production platform, expanding supply to Brazil and other Global South nations.
- Chinese medtech firm Wandong Medical and Brazil’s VMI Group have signed a JV agreement to build a joint R&D and manufacturing center for advanced diagnostic equipment. Officials say the move will boost Brazil’s medtech capacity and deepen bilateral healthcare cooperation. —Sina
- GAC confirmed plans to localize EV production in Brazil and launch a R&D center in Sao Paulo. New models including the Aion V and GS4 will debut at a May 23 event as GAC advances full-chain operations in Latin America.
- On May 12, Meituan signed an investment agreement to launch its food delivery unit Keeta in Brazil. The company plans to invest USD 1 billion over five years. —36Kr
- BYD’s new factory in Bahia, Brazil will begin phased operations in 2025 with vehicle assembly from imported kits, reaching full production by December 2026. Originally set to open this year, the project was delayed by labor probes and bad weather. BYD estimates it could generate up to 20,000 jobs over time. —Reuters
WeRide expands robotaxi service in UAE
WeRide has begun trial operations of fully driverless robotaxis in Abu Dhabi. The pilot expands coverage to Al Maryah and Al Reem Islands, building on existing routes serving Yas Island and Zayed International Airport. It also follows WeRide’s receipt of a UAE self-driving vehicle license in 2023 and its partnership with Uber since 2024.
Shein leases massive warehouse in Vietnam
Fast fashion giant Shein has leased nearly 15 hectares of warehouse space near Ho Chi Minh City, its first such facility in Vietnam, sources said. The move aims to position goods closer to global shipping routes and reduce exposure to US-China trade tensions. Shein remains heavily reliant on China-based suppliers and vulnerable to shifts in tariff policy. —Reuters
Asia reached 646 unicorns in 2024
Asia had 646 unicorns by end-2024, with a combined valuation of USD 2.4 trillion, according to a recent report by the Asia Unicorn Forum. China led with 454 firms, followed by India. Most unicorns are in software, transport, and deep tech, and 96% are valued under USD 10 billion. The average time to reach unicorn status is five years. ByteDance topped the list with a USD 300 billion valuation.
Beijing warns JD, Meituan, Ele.me over food delivery war
Chinese regulators have summoned JD.com, Meituan, and Ele.me over concerns of unfair competition and labor practices in the food delivery industry, citing aggressive subsidy tactics and alleged restrictions on riders. The move follows JD’s recent entry into the market with fee waivers and social insurance pledges. —Dazhong News
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Meitu’s Wink surpasses 30 million global users, tops charts in Southeast Asia
Wink, a video editing app developed by Chinese tech firm Meitu, now has over 30 million monthly active users worldwide. It currently ranks first in app stores across several Southeast Asian markets, including Thailand, Vietnam, and Cambodia, making it Meitu’s third largest product after MeituPic and BeautyCam.
Naixue rebrands ahead of expansion
Naixue, which operates stores in Singapore, Malaysia, and Thailand, appears to be testing a new name and logo ahead of its planned entry into Western markets. Photos shared on Chinese social media show the brand rebranded as “Naìsnow,” blending Chinese phonetics with English styling.
Huawei and Keppel partner on clean energy
Huawei and Keppel have signed a non-binding MOU to co-develop renewable energy solutions focused on photovoltaic systems and battery storage. Projects will cover ASEAN power grids, low-carbon data centers, and hybrid energy platforms, with real-time optimization managed through Keppel’s ONC hub in Singapore. The partnership supports Singapore’s broader push for sustainable energy adoption.
China opens direct truck routes to Hanoi
China launched two direct international road freight routes to Hanoi on May 14, with convoys departing Nanning and Kunming under CBTA permits. The move marks the first time Chinese freight trucks enter Vietnam’s interior directly, cutting costs and transit time. —People’s Daily
Chery, NTU launch joint EV research hub
Chery and Nanyang Technological University have partnered to launch a co-innovation center under Chery’s global open-source initiative. Located in Wuhu and led by Chery’s Kaiyang Lab, the collaboration will focus on technologies for intelligent, low-carbon vehicles and cross-border talent development. —IT Zhijia
That wraps up this edition of China Recap. If your company is expanding internationally, we’d love to hear about your latest milestones. Get in touch to share your story.