Gavekal Technologies

China’s passenger car market is having a terrible 2026, and electric vehicles for once are no exception. Prices and margins are under pressure. Yet despite all that, the market is not consolidating—quite the opposite. What makes it all possible is exports, which now account for a third of Chinese EV makers’ unit sales. The question is how long international markets will be willing to absorb the rising tide of Chinese imports.

On July 15, ByteDance and Alibaba removed their user-defined AI agent features from their chatbots Doubao and Qwen. The move is widely seen as a proactive compliance response to eliminate regulatory risk as user-created AI agents, which are large in number and fragmented in styles and functions, are difficult to review and continuously monitor.