China

Intelligence for Better Decision Making

Humanoid Robot Production Accelerates as XPeng and Tesla Announce Major Milestones
Jan. 22, 2026 | Technology & Innovation

Leading manufacturers of humanoid and industrial robots are advancing rapidly toward commercial-scale production.

**Chinese new energy vehicle maker XPeng Motors has completed its first ET1 humanoid robot, built to automotive standards and representing a significant technical milestone.**
CEO He Xiaopeng described the ET1’s development as a crucial breakthrough on the path to mass production of advanced humanoid machines. XPeng plans to begin large-scale manufacturing of high-level humanoid robots later in 2026 as part of its broader effort to commercialize physical artificial intelligence, moving from technology exploration to practical application. In November, the company unveiled IRON, a new-generation humanoid capable of human-like “catwalk-style” movements; its demonstration sparked online debate over authenticity and drew international attention after Tesla CEO Elon Musk liked a social media post about IRON and predicted that Tesla and Chinese companies would dominate the market.

**Meanwhile, Tesla CEO Elon Musk has warned that initial production rates for the company’s humanoid robot, Optimus, will be “agonizingly slow” due to the complexity and number of new parts involved, although he expects output to accelerate significantly over time.**
Tesla aims to start Optimus production toward the end of 2026, following timelines similar to those for its other advanced products. The company’s $1.39 trillion valuation reflects investor expectations for both self-driving technology and humanoid robots, even as its primary revenue and profits continue to come from electric vehicle sales. Musk considers the humanoid robot project central to Tesla’s long-term strategy and has suggested that Optimus could eventually surpass the vehicle business in economic value by performing a wide range of tasks that humans typically avoid, thereby unlocking substantial new opportunities.
Surge in Global Investment Accelerates Growth and Expansion of Chinese AI Startups and Concept Stocks
Jan. 22, 2026 | Technology & Innovation

Investors are channeling substantial capital into Chinese AI startups and concept stocks, fueling global expansion and technological development.

**Malaysia-based private equity firm Crewstone International (CSI) led a US$73.6 million pre-IPO+ financing round for Shanghai- and Hangzhou-based AIoT solutions provider Uni-Ubi, joined by state capital investment group Shanhai Industries Group from Wenzhou City and existing shareholder Bojiang Capital.**
Uni-Ubi will use these funds to support its global expansion and localization efforts, with a particular focus on emerging markets in Southeast Asia.

**Beyond its financial investment, CSI will leverage its Southeast Asian network and expertise in international capital markets to facilitate Uni-Ubi’s market entry, partnerships, localization, and resource integration.**
Founded in 2011, CSI manages over US$1 billion in assets across more than 40 companies spanning logistics, healthcare, green technology, manufacturing, ICT, and e-commerce.

**Uni-Ubi plans to deploy the capital to develop “core AI 2.0 capabilities” in robotics, multi-modal large models, and general-purpose robot intelligence.**
These initiatives aim to enable robots to perceive, reason, and act in unstructured environments, aligning with the broader embodied intelligence trend. In 2025, the Chinese embodied intelligence sector attracted 37.9 billion yuan (US$5.4 billion) across 304 financing deals, more than quadruple the 2024 total. Since its 2014 founding, Uni-Ubi has built a full stack of “AI 1.0” products—including facial recognition and temperature measurement systems for access control, security, and digital management—and delivered solutions to construction sites, parks, residential communities, and hotels in nearly 90 countries since 2019.

**Meanwhile, San Francisco–headquartered legal AI startup Ivo raised US$55 million in a Series B round led by existing investor Blackbird on January 20, 2026, valuing the company at approximately US$355 million post-money.**
The round also included new investors Costanoa Ventures, Uncork Capital, Fika Ventures, GD1, and Icehouse Ventures. Ivo intends to use the proceeds to accelerate development of its legal services platform and expand its sales force to meet growing demand.

**Ivo’s AI-driven platform automates contract review workflows and extracts insights from legacy agreements to evaluate shifts in negotiating positions and risk profiles for clients such as Uber, Shopify, IBM, Reddit, and Canva.**
Since its previous funding round in February 2025, Ivo has increased its revenue sixfold. The company distinguishes its technology by decomposing contract review into over 400 discrete AI tasks to improve accuracy and minimize legal errors. Facing rising demand for support on complex agreements, Ivo plans to triple its headcount from 60 employees by the end of 2026.

Monitored Intelligence for China - Jan. 23, 2026


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Erudite Risk takes an all risks approach to intelligence reporting. We categorize key intelligence into one of 40 different risk intelligence categories.

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时政微观察丨为人民出政绩 以实干出政绩

Current Affairs Micro-Observation | Achieving Political Success for the People Through Practical Work

China Daily | Local Language | News | Jan. 23, 2026 | UndeterminedPolitics and Elections

On January 20, 2026, General Secretary Xi Jinping emphasized the need to deepen the study and implementation of the Fourth Plenary Session of the 20th Central Committee, aiming to unify thinking and concentrate efforts to ensure a successful start to China’s 15th Five-Year Plan. This plan prioritizes economic development-centered, high-quality growth amid a complex environment of risks and opportunities. Xi stressed the importance of leadership at all levels improving political judgment and execution, noting the Party Central Committee’s unified leadership is essential for steady and successful economic progress.

The seminar for provincial- and ministerial-level leading cadres underscored adhering to the Party’s major strategies, policies, and economic tasks outlined in the 2025 Central Economic Work Conference. Initial 2026 measures include national subsidies, green consumption promotion, and expanded government financing guarantees to stimulate market vitality and support business entities. Xi highlighted the need for localities to pursue sustainable development tailored to their unique resources and conditions, advocating against one-size-fits-all approaches by encouraging efforts aligned with comparative advantages and local realities.

Xi called for a correct view of performance focused on tangible achievements that benefit the people, emphasizing that success is measured by public satisfaction and improvements in livelihoods. The Party prioritizes practical work that addresses the urgent needs of the population, from ecological protection along the Yangtze River to child-raising subsidies and major infrastructure projects aimed at enhancing public services and living environments. Local and central plans must align strategically while remaining adaptable to local circumstances to ensure effective implementation.

In the inaugural year of the 15th Five-Year Plan, authorities are tasked with anchoring targets in concrete actions, with solid results serving to establish momentum for the broader goals of building Chinese-style modernization. The leadership underscores that practical work and execution are paramount for political success and the continued prosperity of the people.

China to curb excessively low bidding in government procurement

Xinhua | English | News | Jan. 23, 2026 | Regulation

China's Ministry of Finance issued a notice on January 21, 2026, to curb excessively low bidding in government procurement, effective February 1, 2026. The measure aims to reduce involution-style competition and promote a healthy market environment where quality is rewarded with fair pricing.

The notice requires procuring entities to set reasonable price ceilings and configure appropriate procurement packages to support competitive bidding. Financial authorities will oversee bid evaluations, and if evaluation committees fail to properly review abnormally low bids, corrective actions will be taken, including legal accountability for responsible experts.

Procurement entities are also mandated to ensure performance acceptance procedures comply with legal standards, with thorough reviews of all technical and commercial contract requirements during inspections and complaint handling.

事关个人所得税!财政部、税务总局、证监会等三部门发布

Concerning Personal Income Tax! Ministry of Finance, State Taxation Administration, and CSRC Jointly Issue Announcement

STCN | Local Language | News | Jan. 23, 2026 | Regulation

On January 21, 2026, the Ministry of Finance, State Taxation Administration, and China Securities Regulatory Commission jointly announced the continuation of tax policies for the pilot domestic issuance of depositary receipts (CDRs) by innovative enterprises. From January 1, 2026, to December 31, 2027, individual investors will be temporarily exempt from personal income tax on price-differential gains from transferring CDRs of innovative enterprises.

During the same period, a differentiated personal income tax policy will apply to dividend income received by individual investors holding CDRs. Tax withholding and payment responsibilities fall on the domestic depositary institution, which must also file detailed reports with the tax authorities. Foreign tax credits may be granted for dividends already taxed abroad, according to relevant laws and bilateral tax treaties.

For corporate investors, price-differential gains and dividend income related to CDRs of innovative enterprises will follow existing enterprise income tax policies for share transfers and dividends. Public securities investment funds are temporarily exempt from enterprise income tax on these gains and dividends. Qualified foreign institutional investors (QFII) and renminbi qualified foreign institutional investors (RQFII) will treat such gains and dividends as income related to the transfer or holding of the underlying shares of the CDRs for enterprise income tax purposes.

The announcement defines "CDR of innovative enterprises" as securities issued domestically by a depositary based on overseas shares, meeting the pilot enterprise criteria set by the State Council and CSRC guidelines. These CDRs represent rights in the underlying overseas securities.

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