At Beijing’s Haidian District Economic and Social High-Quality Development Conference yesterday, Xiaomi CEO Lei Jun highlighted the critical role of both

Chinese technology stocks advanced sharply on Friday, with Alibaba Group Holding Ltd. jumping 11.41% in Hong Kong trading, as investors responded to positive earnings guidance and anticipated monetary policy easing from Beijing.

Some of China's prominent business leaders, including the heads of carmakers BYD and Xiaomi , said they would resist external pressure and keep innovating, following a rare meeting between President Xi Jinping and the private sector.

President Xi Jinping presided over a meeting with Alibaba co-founder Jack Ma and other Chinese business leaders, signaling his support for private companies after years of turmoil. The gathering included the heads of Xiaomi and Meituan,

China's Xiaomi on Thursday slashed its initial sticker price for its luxury electric sedan SU7 Ultra by over a third to 529,900 yuan ($72,931.72), mounting a bigger challenge to the likes of Tesla and Porsche in the world's largest auto market.

Xiaomi, the world's third-largest smartphone maker, launched its new flagship smartphone Xiaomi 15 Ultra on Thursday, with the base model starting at 6,499 yuan ($894.19).

Xiaomi cut the price of its luxury electric sedan SU7 Ultra by 35% to 529,900 yuan ($72,932) from 814,900 yuan ($111,842).

Chinese electric vehicle maker Xiaomi on Thursday priced its luxury electric sedan, the SU7 Ultra, at 529,900 yuan ($72,931.72).The final price of the car announced by founder Lei Jun at is much lower than the initial sticker price of 814,

As the company’s most advanced smartphone to date, the Xiaomi 15 Ultra boasts the latest Snapdragon 8 Elite processor, a 200MP camera, a 2K display, a 6,000mAh battery, and cutting-edge satellite communication support.

Xiaomi Corp on Thursday unveiled the official pricing for its high-performance electric car, the SU7 Ultra, starting at 529,900 yuan ($73,000), after the Chinese technology company made a splash in the crowded car market last year.

Xiaomi looks to “redefine premium cars for this generation” with a combination of performance features that compete with Porsche, technological functions similar to Tesla, and luxury comparable to German carmakers.