DeepSeek, the AI start‑up sparked a frenzy after reports that it could unveil its V4 model this week. Alibaba and Tencent are in early talks to invest at a $20bn valuation, up from a recent $10bn appraisal. The buzz shows investors expect the new model to run on domestic chips, a sign China’s chipmakers are edging past U.S. limits.

The Beijing auto show, kicking off Friday, will host about 1,450 cars, including a record 181 global debuts. Chinese makers are courting overseas buyers to offset slowing domestic demand. Geely shipped 203,000 vehicles abroad in Q1, a 126% jump, while BYD sold nearly 120,000 cars overseas in March, up 65.2% year‑on‑year.

Meta’s $2bn purchase of Manus has drawn a sharp reaction from Beijing, which labels the deal a “conspiratorial” threat to its tech base. The National Security Commission, chaired by President Xi, launched a multi‑agency review using export controls and competition law. Manus’ founders have been barred from leaving China while the probe proceeds.

Korean e‑commerce giant Coupang faces mounting scrutiny as regulators fine it for alleged algorithm manipulation and supplier pressure. Labour groups protest poor working conditions, while founder Bom Kim has avoided returning to Seoul for questioning. The company’s aggressive expansion into food delivery, fintech and streaming has reshaped South Korea’s retail sector but raised serious antitrust concerns.