China Technology: CBO - China Brief Overnight - June 12, 2026

Research evidence excerpt

China Technology: CBO - China Brief Overnight - June 12, 2026

area in the cantons of St. Gallen, Appenzell Ausserrhoden, and Appenzell

Innerrhoden. Provided all safety and regulatory requirements are met, regular fully driverless

operations are expected to launch in early 2027.

•• Li Auto to showcase the new L8 tomorrow at stores ahead of official launch on June 23:

According to Sina News, Li Auto CEO Li Xiang said that the new L8 will arrive at all nationwide

showrooms ahead of its official launch on June 23.

•• Chinese robotics firm UBTech and chipmaker MetaX form JV for embodied AI chips:

According to 36kr, UBTech officially announces that it has signed a strategic cooperation

agreement to jointly develop embodied AI chips with A-share listed chipmaker MetaX. Both

sides set up a JV with registered capital of 100 million yuan to advance research and

production.

•• Moonshot AI’s Kimi partners with a state-owned bank for the first AI-native credit card:

According to 36kr, Moonshot AI’s Kimi announced that the pre-orders for the Kimi credit card,

which is the world’s first AI-native credit card, are open for bank clients in a partnership with

a state-owned bank. Every purchase made by cardholders can be redeemed for Kimi agent’s

access rights, usage allowance, and other services. The card holder also has priority use

rights for the newly released AI models.

•• Huawei launches open-source HarmonyOS ecosystem initiative to accelerate large-scale

deployment in over 20 industries: According to IT Home, the Executive Director and

Chairman of the Consumer BG officially announced the launch of the Hongtu Plan, which is

an initiative that aims to accelerate the large-scale deployment of the open-source