Shanghai Bright Power to Acquire Sichuan Yichong; Shanghai Launches Enterprise Going Global Platform
Key Takeaways
- Shanghai Bright Power to acquire Sichuan Yichong for $457M to expand product portfolio.
- Shanghai launches 'Enterprise Going Global' platform to aid overseas expansion efforts.
- Shanghai implements trusted data space using blockchain, develops 300+ data products.
- Shanghai introduces credit repair measures for businesses in Jing'an, Jiading, Fengxian.
Top Stories
Shanghai Bright Power to acquire Sichuan Yichong for $457M.
Shanghai Bright Power Semiconductor will acquire Sichuan Yichong Technology, a Chinese wireless charging chip maker, for $457 million. The deal aims to expand its product portfolio and enhance competitiveness.
Shanghai launches Enterprise Going Global platform.
On August 21, 2025, the Shanghai Enterprise Going Global Comprehensive Service Platform (Xuhui) service point was unveiled. The platform aims to address challenges faced by enterprises in overseas expansion.
Shanghai implements trusted data space for super-large cities.
Shanghai is advancing the implementation of a trusted data space for super-large cities to address data utilization challenges. The Shanghai Data Group has developed over 300 data products, utilizing blockchain technology for secure data exchange.
Shanghai introduces credit repair measures for businesses.
The Shanghai government has introduced measures to support credit repair for business entities. Districts like Jing'an, Jiading, and Fengxian are implementing new mechanisms to facilitate the process.
Culture & Events Scene
Shanghai's RED LAND event launched.
On August 8, 2025, the “RED LAND” open-world adventure island event commenced in Yangpu District, Shanghai. The event covers 80,000 square meters and is part of Shanghai's efforts to promote the ACG economy.
Shanghai Economy Today
Shanghai enterprises expand markets overseas.
On August 11, 2025, over a thousand Shanghai enterprises grouped together to explore overseas markets.
Shanghai implements 36,400 cross-domain tax payments.
Shanghai has implemented 36,400 "cross-domain" tax and fee payments since the beginning of the year, including 10,500 "cross-provincial" transactions. The comprehensive service hall window volume has been reduced by 27%.
Weather Update
Shanghai combats false weather reports.
On August 21, 2025, Shanghai's authorities addressed the spread of false weather information, specifically regarding snowfall. The Public Security department issued penalties to those spreading misinformation to maintain public order.